Life is Good... Says Jake

By
Education & Training with Sell with Soul

jakeFast Forward another three years, into Jake's fifth year selling real estate.

(Jake's story begins here.)

Jake is the perennial top producer in his office and is considering going out on his own. He works about 30 hours a week and sells around 70 properties a year. Last year his gross commissions topped $300,000 and it looks as if he'll do it again this year.

His expenses? Not bad at all. Because his business is almost 100% SOI, his marketing budget is quite low, perhaps only 5% of his gross. And that 5% is spent mostly on entertainment (lunch dates and dinner parties, afternoon BBQ's and impromptu happy hours.) The rest of his marketing budget goes toward business cards, newsletters, annual calendars and postage. He spends no money on geographic farming, newspaper advertising or even web leads. Yeah, he has a website, but it's not a big source of business for him. He doesn't need it to be.

Let's look at Jake's sales statistics thru the years:

Year One: 25 homes sold (22 to SOI) Gross Commission: $71,000

Year Two: 38 homes sold (32 to SOI) Gross Commission: $138,000

Year Three: 47 homes sold (40 to SOI) Gross Commission $215,000

Year Four: 57 homes sold (51 to SOI) Gross Commission $305,000

Year Five: YTD in July: 33 closings, 12 active listings, 5 in escrow, 5 active buyers

Projected gross commission - well over $300,000

So, do you think Jake is a BELIEVER in the power of SOI? (more about Jake here)

Real Estate Doesn't Have to be a Number's Game...

sws

 

 

www.sellwithsoul.com

 

 

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It's Here!

 

The More Fun You Have Selling Real Estate, the More Real Estate You Will Sell! 
(True Story)
Order Your Here!

 

 

 

 

 

 

 

 

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Rainmaker
150,060
Janie Coffey
First Coast Sotheby’s International Realty - Ponte Vedra, FL
Uniting Extraordinary Homes w/ Extraordinary Lives

I wanna be Jake, i wanna be Jake!!! wow, that is some impressive earning!

 

Sep 24, 2007 11:21 PM #1
Ambassador
838,676
Charlie Ragonesi
AllMountainRealty.com - Big Canoe, GA
Homes - Big Canoe, Jasper, North Georgia Pros
It's like waiting for a new Harry Potter, The story of Jake. This sounds like the last episode. Hopefully we will have another "jake" to read about
Sep 24, 2007 11:42 PM #2
Ambassador
920,301
Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Savvy Realtor - Ann Arbor Real Estate
These are excellent, are they in your book ?
Sep 24, 2007 11:52 PM #3
Ambassador
566,489
Rosemary Brooks
BMC Real Estate - 209-910-3706 - Stockton, CA
The Mother & Daughter Realty Team
When I grow up I wanna be like Jake! Thanks for sharing.
Sep 24, 2007 11:53 PM #4
Rainmaker
558,962
Maggie Dokic | Miami, FL | 305.81.HOUSE (46873)
eXp Realty LLC - Miami, FL
GREEN, CDPE, SFR, Pinecrest | Palmetto Bay |
It took me a while....but I'm listening.
Sep 24, 2007 11:54 PM #5
Rainmaker
558,962
Maggie Dokic | Miami, FL | 305.81.HOUSE (46873)
eXp Realty LLC - Miami, FL
GREEN, CDPE, SFR, Pinecrest | Palmetto Bay |
OK, wait.  I am more than listening.  I'm floored.  It's taken me much too long to find you Jennifer.  I think I'm beginning to understand why I never finished learning the stupid scripts and never picked up the stupid phone.  Inside, I knew it wasn't for me.  I knew there was a better way.  You've been doing it that way all along.
Sep 25, 2007 12:01 AM #6
Rainmaker
484,282
Jennifer Allan-Hagedorn
Sell with Soul - Pensacola Beach, FL
Author of Sell with Soul

Maggie - I'm humbled by your comment. And so excited. The point I wanted to make with this series was that everything you've ever heard about SOI business is probably wrong. It's a major paradigm shift to realize how to do it right. I've struggled for a long time to find a way to demonstrate this effectively and suddenly hit on Jake's story... which as you may suspect, was my story, almost word for word. Well, all except for the part about finding ME on Active Rain!

I'm pretty much in love with Jake right now. I had a blast writing this - I think it took me all of an hour - it just flowed out. So, this isn't the last you'll see of Jake... or Amy (my other alter-ego).

Sep 25, 2007 12:09 AM #7
Rainmaker
540,626
Karen Rice
Davis R. Chant, REALTORS - Hawley, PA
Northeast PA & Lake Wallenpaupack Home Sales

Thanks so much for such a fun read, Jennifer.

Not only is it fun but its empowering.  I was at a big function the other night where my husband was the superstar (long story) and I was thinking...wow, what an SOI this bunch would make!

  

Sep 25, 2007 12:13 AM #8
Rainer
78,052
Aziz Abdur-Raoof
RE/MAX Rewards - Columbia, MD
Howard Co. Real Estate Scoop
Jennifer --I like Jake and the story.
Sep 25, 2007 01:52 AM #10
Rainmaker
558,962
Maggie Dokic | Miami, FL | 305.81.HOUSE (46873)
eXp Realty LLC - Miami, FL
GREEN, CDPE, SFR, Pinecrest | Palmetto Bay |
Jennifer, I'll be busy catching up on all your posts.  I think I can have dinner delivered for the kiddies....
Sep 25, 2007 03:25 AM #11
Rainmaker
484,282
Jennifer Allan-Hagedorn
Sell with Soul - Pensacola Beach, FL
Author of Sell with Soul
Maggie - I will catch up on YOURS as well...
Sep 25, 2007 07:34 AM #12
Rainer
99,564
Ashley Drake Gephart
Drake Intel Group - Albuquerque, NM

Jennifer - Jake/Jennifer's story is just inspirational. It goes against everything I was taught about SOI. So I got very discourage and figured that just wasn't the way to get new business. The first thing we were taught was to mail a letter "announcing" being new in the business and to please use us and send us business. One agent sent out 200 letters. I was jealous thinking I wish I had that many and figuring she would take off. We had been told for every 100 SOI we should be able to do one million a year. She sold one home at $125,000 her first year.

I have to have a big shift in thinking about SOI now.

Sep 25, 2007 09:13 AM #13
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Jennifer Allan-Hagedorn

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