We all know those real estate agents who make a fortune and never seem to break a sweat, and we’ve all heard the expression that the key to a successful career is to work smarter and not harder. The question is, “What is smarter?” (We all know what harder is). I’m reading a book, The 80/20 Principle, by Richard Koch, and I highly recommend it. I’ve applied some of the 80/20 principle to this blog, “If You Want to Make More Money and Work Fewer Hours, Consider the 80/20 Principle,” and I hope that it inspires you to read the book. It will be well worth the time.
- 80% of sales come from 20% of the prospects. The very top agents typically work three sources of business, which provide roughly 80% of their business: Sphere of Influence (SOI), including past clients; the Internet; and a target market or markets. They find what works for them, and they Read the rest of this entry »
Not all buyer leads are worthy of the time and effort to it takes for you to sell them. There are “leads” that won’t buy now or in the future, and there are leads that will demand hours of your time and effort just to get them qualified to buy. Experienced and successful agents avoid working with leads that aren’t ready, willing, and able to buy. Using the five scripts below can help you determine if you want to work with potential clients as their buyer agent by getting you the right information to make the best decision.
Good or Bad?
- “How soon do you need to move?” Motivated buyers know the answer to this question, and they expect you to ask it. In may instances they know as much about the houses for sale as the agents do, and they don’t want to work with an agent who’s not in a HURRY! If they respond to this question by saying some time “months from now,” or “next year,” you can then make an informed decision whether to work with them or refer them to another agent.
- “Have you been talking to other real estate agents? When was the last time you talked to them?” Buyers bouncing among multiple agents create Read the rest of this entry »
It’s been a number of years since I was a new agent (1972!) but I still remember the overwhelming feeling of “what should I do?” I also remember “eating the real estate elephant” during a slump or two when strategies that had worked in the past weren’t making ANY contribution to my GCI. My memories of these times spurred me to write this blog “How to Eat the Real Estate Elephant in Five Bites.” It’s a reminder that if you do what you’ve always done, you’ll continue to get the same results. Do Something New!
Five Big Bites
- Generate Leads. The one single thing that new agents, slumping agents, or agents who just can’t seem to get started need the most is LEADS. One of the best ways to generate those leads is to spend more time making Read the rest of this entry »