Why re-invent the wheel?
When we first begin thinking about starting a career in real estate sales; why re-invent the wheel? Real estate sales is not a new business, it is just new to us. The real estate industry has been in existence for well over 100 years. It has already created an opportunity for many people to become independently wealthy through all those years. Without them realizing it, the most successful sales people in real estate has become a prototype for us to follow. We don’t need to invent a new way to make the sales profitable. We simply need to follow the prototype and duplicate what they have been doing successfully for a long time.
So what does a real estate sales prototype look like?
The top 100 producing sales people in America is a perfect prototype for us to duplicate. Their techniques weren’t invented per say. They were developed and evolved from other successful people in the business prior to their existence. The Internet age has changed the way real estate is bought and sold but the actual process remains the same. The Internet has just simplified the process and made the techniques more easily followed and actually made it possible to create even higher sales than ever before.
The prototype has a business plan…..
which carefully balances their business and personal goals. Common sense tells us that if we wish to achieve certain goals, we need to know where we are currently before we can determine what we need to do to reach a higher level of success. All work and no play will destroy our family relationship as well as strip us of enthusiasm in building a successful business. All play and no work might help strengthen our family relationships but the lack of income will put us in the poor house. We need to plan the hours we work as well as time required to spend with the family. We all have the same 24 hours in a day. Some people accomplish much more in a day’s time than others. The reason is they prioritized their time for accomplishing the things most important to them.
The prototype time blocks…..
to ensure they have sufficient time each day to accomplish the tasks necessary to reach each goal. Time blocking can be a little difficult to begin with but after doing it for a week or two you will find that you complete many more tasks with greater ease and efficiency. Please don’t confuse working from a “To Do” list with time blocking. Time blocking is done when you develop a business plan. If your business plan determines you need to make so many phone calls per day to new prospective clients, you need to block out the required amount of time necessary to make those calls for each work day of the week. When you block time, you are taking it out of the day. You’re saying that nothing else will hinder you from making the necessary calls. You should block time for making calls, for lunch, to answer emails, for showings, for working closings and etc. You can quickly see that this requires some careful thought but when you time block, each work day should look the same. If blocking the time is important to you, you should block the same time each day of the month. The time you don’t have blocked is the time you spend doing the things on the “To Do” list. Keep in mind that managing time is most important because once it’s gone it is gone forever.
The prototype understands the three-foot rule.
Real estate sales is all about asking people two questions; 1) Are you interested in buying or selling real estate? 2) Do you know anyone who is? If you ask everyone that comes within three feet of you, you will sell more real estate than you ever dreamed. The problem with so many sales people is they try to invent new ways of producing new clients rather than following the prototype by asking those two simple questions. Eventually you’ll have to ask at least one of those questions so why not do it to begin with. They’re simple questions. What makes them so difficult to ask? Could it be fear of what someone might say or ask? When most people first get into sales, they have this fear. If they can’t overcome the fear of knocking on a strangers door, or calling someone they have never spoken to before, they might as well choose another profession. They’ll make a few sales but they’ll never reach the level of success they desire to reach.
The prototype understands the need for education.
They are always striving to learn how to perform new techniques, how to use new programs that will help them become more proficient, and staying abreast of new laws to help them and their clients keep out of trouble. They don’t look at education as being required continuing education they have to take in order to renew their license. They understand that gaining knowledge will benefit them much more than the cost of taking educational classes.
The prototype knows the importance of marketing.
Marketing is not simply placing your listing in MLS. Professionally marketing a property is not just advertising in a newspaper, or Homes for Sale magazine. Marketing is making everyone in the vicinity of a property aware the property is for sale and communicating with them about their possible interest or if they know someone that might be interested in purchasing in that particular area. So many people take the easy way by just sending out mass emails or post cards notifying people that you have just listed a property. These are two means of marketing but the owner is paying you well to professionally market the property for sale in such a way as to produce prospective buyers. Try putting yourself in the seller’s shoes. Would you pay someone the same commission you charge, to perform the same duties you perform; or would you expect them to do much more? If you would expect more don’t you think they expect more too?
The prototype knows the value of branding.
I’m not talking about branding cattle either. I’m talking about branding yourself in such a way that when people think about buying or selling real estate you are the first name that comes to mind. There are many ways to brand but many times it is accomplished through the use of images. What do you think of when you see the golden arches? McDonald’s; right? Do you think about how good the burgers taste? Not necessarily. You just associate the arches with McDonalds. If you show a child a picture of the arches they think of a free toy or a place to play. Most businesses use some type of logo, special lettering, or picture of something that demands instant recall every time they see it. They have that logo on every advertisement; every media of communication.
The prototype realizes the power of social networks.
Social networks are relatively new and most powerful when properly used. The mistake so many people make, or at least I think so, they use social networks to advertise property they have for sale. A more beneficial use of social networks is creating communication opportunities. Through communication links we lay the groundwork for establishing a relationship. People buy real estate through people they have a relationship with. They may not be best friends but they have some trust and respect for the agent. All that comes from having communicated with each other. How powerful can the social networks become if they are used to brand an individual? Most powerful! Think of the thousands of people who are linked together seeing your brand, all because you use the brand on everything you do.
What do you want to know?
Should you have specific questions concerning various issues, please let me know and I’ll research the answer for you. I also want to encourage you to subscribe to our “News & Updates” weekly report so you can stay abreast of issues that might affect you when buying or selling real estate. If you haven’t visited my website, please go to www.AlabamaRealEstateInstitute.com and view previous articles.