As the market begins to improve I believe controlling the inventory is the name of the game. Many say that fall time is when we will start to see the market shift, and that next year this time we should feel the recovery.
If you are going to sell real estate in high volume, you have to have inventory. The more signs you have the more your phone will ring with buyer inquiries and more listing leads as well.
As many of you know, I am the co-owner of You’re The Difference, Inc., a real estate sales training company, and I am also still full time in real estate sales. I consistently sell an average of 110 homes a year and am on track to do so again this year despite the challenging market.
I want to share some things with you now that have helped me to produce at this level year after year.
I also co-wrote the book, Now What Do I Say? a collection of over 425 answers to more than 70 of the most common questions and objections you’ll face in real estate. If you haven’t already purchased a copy, please visit our website at www.yourethedifference.com to get your copy. We have it available in published format, E-book version, as well as on audio.
Quickly let me tell you that I have been in real estate for over 20 years and have been selling in Roanoke, VA for the last 10. From the very beginning of my career in real estate I have focused my time and energy on getting listings and getting them sold. I have never spent a lot of time with buyers. I learned very early that buyers take up a lot of time and that controlling the inventory was the way to produce buyers anyway. I mean afterall without signs and ads for buyers to call on, how do you pick them up?
My goal each day is to get a listing. Right now I have 63 active listings and carry an average of about 40. My inventory is higher than normal right now based on the market conditions. Before I go into the ways that you can take more listings, let me clarify what I do with the buyers that I pull in.
I have a full time buyers agent, and she works with all the buyers that are not interested in purchasing my listings. When they call in on a sign or an ad, if that particular home does not meet their needs, I pull them in as a buyer lead by asking a serious of questions to determine their needs, wants, desires and goals for a home.
I get them with our lender to get pre approved if they haven’t already done so. I go ahead and email them with all homes that are for sale based on what they are looking for, and let them know that my buyer’s agent will be following up in a few days to see which homes they would like to look at. Then I turn the lead sheet over to my buyer’s agent and she takes over from there. This is all she does is spend 100% of her time on working with the buyers that I refer to her. It’s a great situation for her because she virtually has no overhead and is handed pre approved, ready, willing and able buyers on a consistent basis.
By having a buyer’s agent it frees up my time to focus on taking listings, servicing my sellers, and getting their homes sold, while still making a profit from the buyer sales.
To get listings I call daily expired’s, FSBO’s, I keep in touch with all my past clients 4 times a year by phone and 4 times a year by mail.
I call all the neighbors when I list a home in their neighborhood to let them know the home is for sale in case they know of someone looking to be in their neighborhood, and ask to see if they happen to have any plans on selling.
When I sell a house, I call all the neighbors in the neighborhood to let them know we sold a house in their area. I tell them the price it sold for, the new neighbor’s name, and ask that they please help welcome their new neighbor. I also ask if they happen to have any plans on selling.
Guys one year I took 18 listings from calling around just listed’s and just sold’s, in fact took a listing yesterday from this. Trust me, it works!
Every ad call, sign call, or internet lead I receive I follow up with them numerous times offering to help them. I don’t just return their call, leave a message and throw them away. If I am unable to reach them in person I leave them up to three messages and/or emails before disregarding them.
I do not come across as being bothersome or annoying in these messages and emails. I truly come from a place of wanting to help them. Everything I do and say is very “contribution” based, and all about the client and their needs. I believe the paycheck only comes as a result of doing an outstanding job.
I have written, well rehearsed scripts for all the prospecting that I do. If you are interested in growing the listing side of your business but don’t quite know what to say, I have a scripts CD that you can purchase. This CD gives you exactly what to say and how to say it for all avenues of prospecting including questions to ask before going on a listing appointment so you can be better prepared and confident when you arrive at their house. You can purchase this on our website as well at www.yourethedifference.com.
Guys, I have a system for following up with the leads that I generate each day. I follow a very strict schedule allowing a minimum of 2 hours each day for generating new business and following up with current leads.
I am in touch with all my sellers on no less than a weekly basis keeping them up to date on what we are doing and the response we are getting. I update them every 30 days on market conditions and discuss pricing and market strategies to get their home sold as quickly as possible.
I challenge you to take a look at your business and see what you can do to generate more listings for yourself. Believe me guys this is what will allow you to really expand your business in a BIG way.
I hope some of this is helpful to you and opens your mind to new possibilities. I treat my real estate business as if I owned a large corporation. Actually it is incorporated for tax purposes. but really I like to think of myself as a real business owner even though I work under my broker.
I show up to work every day as if I had an actual job. I follow a daily schedule as normal employees do. And, believe it or not I only work 4 days as week from 7:00-3:00 each day and take most weekends off. I do not work 24/7.
If you are interested in working with me personally to help you get your business off the ground or to the next level, I have two spots open right now for personal coaching.
This is a 30 minute call each week with just you and me. I teach you everything you need to know to expand your business. Due to the current economic situation I am offering this personal coaching for only $499 a month, normally $799 a month. I only have two spaces available in my schedule right now, so if you are interested please email me at email@example.com or call our office, 609-601-1296 to schedule a free 30 consultation with me to see if my help is right for you.
If personal coaching is not right for you, we have two other programs available for only $99 each per month. And, if you sign up for both, it’s only $149 a month.
Ask The Coaches – This is a weekly 30 minute call with myself and my partner and co-author Scott Friedman, where we will meet with agents from across the United States in a forum where you can ask us anything you want about the real estate business and how to grow your production. Just being on the call and hearing others questions is invaluable.
Objection Handling Workshop – This is a weekly 30 minute call with myself and Scott as well. Here we will teach you how to handle all the objections you face in this business. The ideas, handlers and techniques are right from our book, Now What Do I Say? including powerful NLP langauge patterns designed for you to close more deals!
Email or call us to let us know which option is right for you or how we can support you, firstname.lastname@example.org or call 609-601-1296. There are many free things on our website designed to help you as well, so please be sure to check it out at www.yourethedifference.com.
I hope you are on track to Making 2009 YOUR Year.