Can you imagine how it would be to have an X-ray type superpower that would “shine” every house that will go on sale in your area of a blinding white, even many months before the owner decides to put it on the market? You must know the tricks real estate agents play. And how would you be able to train one or more people to have the same superpower to wander in the city or in your neighborhood and come back with a written list of addresses, names and phone numbers of people who are not even aware that they will sell, giving you a huge advantage unfair about all your competitors?
If you are a real estate agent and you would like to find out how to apply Winning Agent strategies to your sector you are lucky because you see, my first job as a salesman when I was 19 was the real estate agent. Follow the 15 tips to improve your home
Tricks real estate agents play
Many years have passed, but I have always been very close to that kind of activity, I have trained hundreds of successful real estate agents, and I have also developed. Thanks to the continuous field trials, a cutting-edge system that allows you to eat all the dust. Your area competitors, with less effort and more earnings, even if the market is collapsing.
If you are not a real estate agent, go ahead and read because you will discover that you have removed the “technical” words typical of the sector. With a minimum of adaptation, you can use at least 90% tricks real estate agents play of this article, even if you work in a completely different sector.
The “sale” in the real estate market consists of several “parts,” or rather it is necessary to sell over and over again before completely packaging the transfer of ownership of a property between two owners.
Hyper-simplifying, the first sale you need to do is to find properties to sell and convince owners to grant you what in the technical jargon is called “sales appointment,” the contract that authorizes you to advertise and treat the property for the bill.
Since getting the job of selling a palatable property is the first “sale” that you have to learn to do to give away the full cycle of intermediation, in today’s article we will focus on this aspect.
How do you find houses that the owners want to sell?
If you want to stay open with your agency, the first thing you need to do is find people who want to sell their homes and are available afterward to give you a sales job.
If you ask young real estate agents or even agents who have been on the field for many years, the answers you get to the question: “How do you find houses to sell?” , Will be more or less always the same. The “traditional” strategies that differently all more or less use are the following:
1. Door to door: The real estate agent wanders around his area of expertise, ringing all the bells that he can and talking to all the people he meets, asking his interlocutors with various stratagems but always quite similar, if they know someone who is trying to sell a house
2. Cold telemarketing: The telephone calls to strangers in my area are the instrument, together with the door to door, with which I started many years ago as a real estate agent.
In summary terms, you carry out the same task as the door-to-door activity, but on the phone. Call people at home to ask more or less standard:
“Hi, do you know if anyone in your building or a nearby building is trying to move house?”.
I remember that I had to play at least a hundred calls every day to reach my “quota” of pre-established contacts.
In its way, it was the only tool we had to bring the results home because no one could teach us anything better.
The problem is that as I will explain in a moment, it is certainly not the smartest way to work and as in any other sales job, door to door and cold phone calls as customer acquisition tools, are the cause of the huge turnover in companies trying to create a sales network.
For a person who makes it and resists it, it burns tens. So the consideration of some genius “We have always done it, and it works” is based on a “historical forgery.”
It works because you only see people who are genetically more predisposed to survive:
“No!” No! “No!” “Do not bother me anymore!” “I told you not even last week, did not you understand?” “If you call again his tariff plan I will put it in the c ** o! “
– “But there must be a misunderstanding! We are a real estate agency! “
– “Well it’s the same, you take them for everyone because today they turn me!” And so on …
… but you do not see the dozens of people who could have had a promising career as real estate agents and sellers in general who were brazed by these prehistoric methods of acquiring customers.
3. Calling the ads of other agencies: The easiest way to find houses to sell, is to fish in the pond where it is full of fish that you see with the naked eye, that is to try to find out where are the houses advertised by other agencies.
It is clear that if you know your area and have a minimum of the eye for the facades of the buildings, it’s a breeze.
It ‘s a breeze, but it is also the most stupid method to work. You will be dealing with properties that are already on sale for some time on the market. You were almost certainly “disgraced,” and being on sale for more than 30 days are now “Smashed.”
Moreover, even more stupid, you’ll have to deal with real estate that others have in exclusive and therefore you will not be able to treat, or at best you will try to sell properties that also deal with other agencies.
The obvious consequence is that the commercial strategy on that house will not be of your exclusive and so many greetings to the bathroom of shit that will come out when someone wants to propose but that of the other agency had told him about different conditions. Best wishes.
4. Calling private ads: Another stroke of genius of the real estate agent is to call the ads of people who want to sell “from private.”
From private means that they do not want shit to pay mediations to the agencies, for one reason or another.
But it is clear that if you do not have the slightest idea how to get customers motivated to sell with you, as in war “every hole is trench” and then get to deal with people who have a sign on the head: “Real estate agents all die because you’re on the cock ” also seems a clever idea.
To the problem before, that of a hyper-disgraced property, add the problem of having to deal with a person who detests real estate agents, the idea of dealing with them and especially that of having to sacrifice part of their own I gain in that ugly thing called “commission.”
Beware that I am not arguing that those who want to sell from private are right. I am PRO to work as an agency (well done would be lacking). I think today how to sell home alone is throwing himself into a lake of shit head thinking that is Nutella.
The Hamster wheel
In simpler words, they are activities that, although not very effective in proportion to the effort, only work while you are doing them .
When you’re not out there in the cold ringing bells them knocking doors, when you’re not attached to the phone, when you’re not scouring the signs in your area or the web to identify homes. That is already on sale through agencies or individuals. The “news” to find appointments that will carry out the tasks, they suddenly stop them.
This flaw in the system is what determines the “ups and downs” in the production and income of real estate agents. Follow me, I’ll do it easy:
1. These “hamster wheel” activities work when you have time to do them. If you do them seriously, at some level even if not optimal they bring results, that is appointments.
2. When you start making acquisitions, you then produce exhaustive negotiations to take over the sale, from which then your activities arise to promote the property and then make appointments to visit.
3. In short, what happens is that as soon as the hamster’s wheel starts to work, you are forced to stop doing it because you find yourself having to make acquisitions and sales appointments.
Worse if you conclude a deal you must follow the practice with the exhausting bureaucratic pursuits that lead to compromise and then to the deed.
High and low brother, because when you have finished making appointments, and you finally closed that grueling practice with the deed before the notary guess what? You’ll be dry again, without “good” properties, without appointments and you’ll start from the beginning with the hamster wheel to get new activities.
High and low brother, a month you run like a desperate in the hamster wheel to get appointments, the next month you run on another wheel, where you do the appointments and follow the bureaucracy but stay dry with new blood.
It’s like that for every real estate agent I know, and I’ve kept track of their results for over a decade: one month runs and does not eat, one month runs and eat but we find ourselves with the dry pantry. Good life, eh?
The door to door hamster wheel
The first thing you need to understand and accept if you want to get out of the slavery of the manual work of real estate agents is that your money can be replaced and you can earn more and more. What you can not replace instead is your time. So you have to stop using your time as a resource and instead invest the money to produce more money. End.
“But Frank ..” STOP.
“But Fr …” STOP.
“But …” STOP !!!
I do not want to hear excuses, piagnetti, justifications or “but my area is different”.
Nothing: “But these things work for people in the suburbs, I have the agency in the center and people are in a hurry”
As a joke: “But these things work in the city, we are a small reality and people do things differently”.
If you are from this parish of depressed grievances, you are asked to close the blog and return to where you came from. So we do not waste time in two.
It seems obvious that if you are hanging by the neck in the bank and money to put in the lever you have very little, of course you will have to make a “soft” transition, that is to invest what you can and gradually replace the quota of manual labor with shares of systemic work I will show you soon.
Another thing for those who work in “real estate groups”. I’ll tell you without words: you are too many and have a wrong strategy.
Your strategy, since you do not have a system that goes beyond the manual work of the hamster wheel, is to recruit a lot of people for the sole purpose of sending it out to make cannon meat ringing bells and grinding on the phone breaking the balls at home of the people who are doing something else.
Your goal should not be to have five agents in an office that hardly earn 1,000 dollars each because those who “at the top” eventually eat, while continuing to grind with the turnover of people who inevitably demotize and give up.
Your goal must be to have very few selected agents, who earn a lot and around which you build a contact generation system.
Is this clear?
Now if this is clear we can go on but let’s repeat it for safety: your time is over and you can not leverage it. What is potentially infinite is money and it is what you have to use in order to make people know you, and want to entrust their properties for sale.
How to best use the leverage?
The first thing I see those who think about investing money to promote themselves is to invest in “advertising” in a generic way so that their name is “known”, in the belief that if their name turns pretty sooner or later people will end up contact us.
It ‘a bit’ the rough copy of the commercial strategies of large real estate groups in the golden years, which bought advertising space on national television networks, sponsored events, passed with their jingle and their slogan for radio etc …
And so begins your sad adventure in search of becoming “Famous”, in the belief that if people know you, and you will be famous, and everyone will know your name, people will want to entrust their properties to sell. Because if you are “famous” in the city then people are looking for you!
Obviously if you are a single agent with your agency or a small group that can not use real economies of scale, since you are a genius you will do the same thing in small: “institutional” spot on TV (local), passages on the radio and in local newspapers, because your purpose is to make your name “turn”.
Then if you are very far ahead, you will make a “marketing agency” the new visuals for your company, with images and creative slogans “that break”.
On that line, you will prepare beautiful institutional brochures, sponsor the local soccer team that makes you feel good. You will participate in meetings of local merchants trying to associate your image with that of merchants known in the neighborhood or in the city.
So you create a beautiful stand with your logos, your slogans and your cool graphics to put in the shopping center of the country, to stop people like the sellers of Sky. Because you are a genius … people are inside the mall so you put yourself there and wait! Great…