I had a very interesting and long conversation with a potential client this past week. He didn’t call so much asking for advice … he called asking me to approve what his plans were for becoming a 50+ deal a year producer. I asked him what methods he was using for creating business now, which would allow him to do 50+ transactions in the next 12 months. His answer was very interesting, as he told me that he really didn’t like talking to his Past Clients and had very little communication with them. He wasn’t one of those types of agents who contacted For Sale By Owner and Expired listings, because he let those listings go to other people. He had never done any Just Listed or Just Sold calls, or knocked on somebody’s door seeking a listing. I asked him specifically, “What DO you do?” and he said, “I hold open house each Saturday and Sunday, I do that four weeks a month, and I take as much floor time as the company will allow me to take throughout the week. I really believe that by doing this, I can do 50 transactions a year.” I smiled and said, “How many transactions did you do in 2012?” and his answer was … 11. So I said to him … “Do you really believe that you can go from 11 transactions to 50 by doing the same things you’ve always done and not adding anything to your lead generation or prospecting efforts?” He then said, “Well, I’m also now spending a good solid hour a day on social media and I think this should take my business to a much higher level.”
You know the sad part of this conversation … for those of you reading this message … I think the guy actually believed that he could add 40 transactions a year by doing the same things he’s always done that produced 11 transactions a year! One of the hardest parts about being in Real Estate is having good common sense and good business sense. Without being overly critical of this man, it seems that he had neither. Now, I’m sure this will bother some of you … but let’s get real here. To close 50 transactions a year, you’re either going to have to take 75 to 80 listings … which requires talking to a lot of people to get those listings … or you’re going to have to take 25 to 30 listings that all sell and have 25 to 30 buyer controlled sales. Both of these require talking to a lot of people. If there is a 3rd alternative, I’m not sure what it is. All I can say to each of you is … “Do you really believe you can improve your business dramatically, even while the economy gets better, without changing some of your work habits?”
Just a thought.
Mike Ferry
CEO - The Mike Ferry Organization
800-448-0647
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