How to Create a Steady Stream of Income from Your Real Estate Business

Education & Training with Cannon Publishing Group

Excerpt from RISMedia article

Whether you are new to real estate, entering a new area or even a seasoned professional, you can still fall into the dreaded P-C-P (Prospecting-Closing-Prospecting) cycle. That cycle starts when business drops off for some reason. Naturally, you start prospecting. Maybe you hold open houses for the other agents and brokers, you make phone calls to past clients and unrepresented sellers. You mail out postcards, send e-mails and network like crazy. Out of all this prospecting, you finally get a listing, and then you write up an offer or two, get another listing and suddenly you are so inundated with the details of multiple closings that prospecting falls by the wayside. Pretty soon all the sales are done, the paychecks collected and you can breathe easy for about three days before you realize that you now have to get back to massive prospecting. If you are in this kind of P-C-P cycle, be it mild or severe, know that you are not alone. Also know, however, that you don't have to live like this.Breaking the P-C-P CycleReal estate professionals who have overcome the P-C-P cycle generally cite three factors that contribute to a steady stream of income: technique, touch and time.

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Posted by

Joe Cooke

Comments (4)

Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

I think I have the technique to touch my mouse and click the article...iI hope it is about manufacturing is hard to do it all !

Jun 04, 2008 05:56 AM
Angela Lucaj
Amerigo Realty - Canton, MI

The P-C-P cycle can be quite dreadful.  That's why after my first year of business I made it a goal to have at least 1 sale a month, 1 closing a month, 1 new listing a month, and contract at least 1 new buyer a month, while keeping touch with clients through mail and calls.  Last year was an absolute success maintaining this stream of business.  After reaching my sales goals, I decided to doubl it for this year.  Things are going well despite the Michigan marketing climate.  Thanks for the article.

Jun 04, 2008 05:56 AM
Drew & Christine Morgan
RE/MAX Star Properties - Belmont, CA
Belmont California Real Estate

It's hard not to fall into this trap. My wife and I both do real estate together. When we are busy we have not time for a vacation-but we have the money. When we are not busy, all my wife can do is think about getting more business so no vacations then either. It's hard to find the balance in time off and prospecting.

I can relate to movie stars who make millions of dollars doing a movie but they have no idea how long that must last them.

Jun 04, 2008 05:59 AM
Ron Tarvin
Residential, Investment properties, rehab projects, property management, luxury homes, new construction! - Katy, TX
Broker, Katy, Houston, Cypress 77450,77494,77095

I hate this cycle as well... I'm told it's all about time blocking.  Prospect in the morning and take care of current biz in the afternoon.  Sounds easy, right?  Yeah...sure it is! :)

Jun 04, 2008 06:12 AM