The past couple of years have been a real eye opener for me. In my business you deal with so many unique people, and situations. I've worked with a lot of folks who are experiencing major hardship for the very first time, where they're being forced to make decisions that will have a major impact on their personal and financial future.
"Do I pay the mortgage, or my healthcare premium?"
"Do I stay in the home I love and pray for a miracle, or give it up and try to short sell?"
"Do I accept the 20% pay cut and keep my job, or tell them to shove it and hope something else comes along?"
Through all of this, one constant has remained; the incredible, unfailing spirit of the American people. That might sound kind of Polyanna-ish, but it still holds true. To a person, everyone I've spoken with has the attitude that they will endure, that things will improve, and they will prevail.
I believe that hope and fortitude are the core values that have made this country the greatest democracy that the world has ever known. I realize that there are countries where saying "Things will get better" is just a pipe dream; where hope is lost, and nothing ever improves.
In this country, all of us have the opportunity to raise our fortunes. No matter how rough things get our attitude remains..."The good times are just over the horizon, and this downturn won't beat me."
I'm not a flag waving, love-it-or-leave-it, fanatic, but it sure makes me proud of what this country stands for, and what our indomitable spirit can achieve.
The Rookie
Sunday, July 25, 2010
Thursday, July 15, 2010
Keeping Some Perspective
Looking back on what I had planned to achieve my first couple of years in the real estate business, I'd say that I'm pretty much on track unit-wise, but short dollar-wise. As with any business, I have a plan, I review that plan monthly, and adjust my projections based on how I'm trending.
My first year figured to be rough, as I competed against established agents for leads, learned the business, and sold a few homes. I finished with 5 sales after struggling and selling nothing for the first 6 months.
This year I'm projecting to close around 12 to 14 transactions; not great, but solid...steady. That's what I'm looking for; good, solid growth, while I build a strong, loyal customer base. I'm not looking for the one-time big score, or the sexy deal; just give me steady business, and a full pipeline.
Over the past couple of years I've gotten acquainted with some pretty high powered agents. Some have a phenomenal grasp of their business, and are constantly adjusting to stay ahead of the newest trend. Others lack this business acumen, and have fallen on tough times. I've learned an equal amount from both.
I've learned that 99% of the marketing you pay for is crap. I've learned that open houses give you free, tangible, quality results. I've learned that having someone see your face on a shopping cart isn't nearly as effective as having them see you in person. I've learned that the good times don't last long, so you better market for the bad times. I've learned that you have to control your growth, or you will rapidly grow out of control.
I read an article once on how NASA developed the very first pen that would write in a Zero-G atmosphere; creating a separate department, putting in hundreds of man hours, and reviewing countless prototypes. After a couple of years, and millions of dollars, they finally did it!
The Russians? They used pencils!
The Rookie
My first year figured to be rough, as I competed against established agents for leads, learned the business, and sold a few homes. I finished with 5 sales after struggling and selling nothing for the first 6 months.
This year I'm projecting to close around 12 to 14 transactions; not great, but solid...steady. That's what I'm looking for; good, solid growth, while I build a strong, loyal customer base. I'm not looking for the one-time big score, or the sexy deal; just give me steady business, and a full pipeline.
Over the past couple of years I've gotten acquainted with some pretty high powered agents. Some have a phenomenal grasp of their business, and are constantly adjusting to stay ahead of the newest trend. Others lack this business acumen, and have fallen on tough times. I've learned an equal amount from both.
I've learned that 99% of the marketing you pay for is crap. I've learned that open houses give you free, tangible, quality results. I've learned that having someone see your face on a shopping cart isn't nearly as effective as having them see you in person. I've learned that the good times don't last long, so you better market for the bad times. I've learned that you have to control your growth, or you will rapidly grow out of control.
I read an article once on how NASA developed the very first pen that would write in a Zero-G atmosphere; creating a separate department, putting in hundreds of man hours, and reviewing countless prototypes. After a couple of years, and millions of dollars, they finally did it!
The Russians? They used pencils!
The Rookie
Monday, July 5, 2010
What's In A Name?
In my mind, the purpose of holding an open house isn't necessarily to sell the property in which the open house is held, but rather to solicit potential clients. It continues to astound me how few agents take advantage of this free marketing opportunity
Last Sunday I met a woman who was very enthusiastic about the home I was holding open. After a little fact finding, I learned that she had an agent, but was unhappy with the service she was receiving. Turns out the agent, her cousin, made her feel that she was a very low priority for him. That often happens when you enlist family for business purposes; they generally give you inferior service, knowing that you're not going to blow them off. She mentioned that the agent who handled her previous transaction had worked extremely hard for her, making the whole process enjoyable. They were not related!
In the real estate business, praise like that isn't heard very often, so I couldn't help but wonder why she wasn't dropping her cousin and calling her previous agent. When I asked, I heard the answer that I absolutely fear most about my own business..."Oh, I can't remember his name." Wow, no way around it, what a horrible indictment as to the previous realtors post-sale marketing approach.
Most people are terrible with names; forgetting them before the handshake is over. Most agents act as though the deal is over once the commission check's deposited. What a terrible combination; Poor memories plus bad follow-up.
Keeping your name in front of previous clients is quite possibly the single most important responsibility an agent has. Obtaining referrals from past clients, or listing the property of a previous buyer are just two of the potential benefits. Who can afford to miss out on that kind of business, simply for the lack of sending an occasional email or card?
The Rookie
Last Sunday I met a woman who was very enthusiastic about the home I was holding open. After a little fact finding, I learned that she had an agent, but was unhappy with the service she was receiving. Turns out the agent, her cousin, made her feel that she was a very low priority for him. That often happens when you enlist family for business purposes; they generally give you inferior service, knowing that you're not going to blow them off. She mentioned that the agent who handled her previous transaction had worked extremely hard for her, making the whole process enjoyable. They were not related!
In the real estate business, praise like that isn't heard very often, so I couldn't help but wonder why she wasn't dropping her cousin and calling her previous agent. When I asked, I heard the answer that I absolutely fear most about my own business..."Oh, I can't remember his name." Wow, no way around it, what a horrible indictment as to the previous realtors post-sale marketing approach.
Most people are terrible with names; forgetting them before the handshake is over. Most agents act as though the deal is over once the commission check's deposited. What a terrible combination; Poor memories plus bad follow-up.
Keeping your name in front of previous clients is quite possibly the single most important responsibility an agent has. Obtaining referrals from past clients, or listing the property of a previous buyer are just two of the potential benefits. Who can afford to miss out on that kind of business, simply for the lack of sending an occasional email or card?
The Rookie
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