Friday, February 3, 2012

In Real Estate, What To Do First

     What is the first thing you need to do to make money in real estate? 
     The two hundred list. It is day one.  You have had your Florida real estate license for twenty four hours.  You may have been fortunate enough to go to work for a company with a fabulous training program.  I hope.  You may have gone to work for a company whose training program is a limerick. " Here's a desk.  Here's a phone.  Get some listings.  You are on your own."  Intial training varies greatly from one company to another.

     No matter what training you have, here is the first thing you need to do.

     Get a list of your two hundred closest friends.  Send them a Ijustgotintorealestate letter.  You know at least two hundred people that would recognize your name if you mailed them a card or letter.  Who is on that list?  Your parents, your kids, your uncles, your aunts, your ex's, your neighbors, your old co workers, your architect, your barber, your chiropractor, your dentist, your equestrian trainer, your farrier, your grocer, your haberdasher, your instructor, your jeweler, your knife sharpener, your landscaper, you masseuse, your nurse, your optician, your plumber, your quilter, your roofer, your stockbroker, your teacher, your undertaker, your valentine, your weatherman, your xylophone player, your zookeeper. 

     Every person you can think of should be on that list.  If you are in a service club, send them a letter.  If you go to church, send the membership a card.  If you are a member of a country club, send the other members a card.  Anyone you know should be on that list and get a letter.

     What does this card or letter say?  It simply says " I have just started in real estate and if you know someone that wants to buy or sell, please call me". 

     I am a sales trainer. I love to teach.  A long time ago when I was much younger, I was a sales trainer for ERA real estate.  I taught a five day sales training class for real estate rookies.  Since I was a employee of ERA, I was required to teach what they told me to teach.  One segment of that class was cold calling.  I never cold called  when I was a real estate agent.  I didn't like cold calling.  It was in the curriculum so I was bound to teach it. 

     One day I was visiting in the office of one of our ERA brokers and he told me this story.

     He told me one day he was walking through the office and there was one of his new agents that had just finished my class.  She was about fifty years old and she was talking on the phone with tears running down her face. The broker asked her what she was doing and she said she was cold calling people from the cross reference book like Ron had taught her in sales training school.  It was pretty obvious that she was not having fun.. The broker took the cross reference book off the desk and threw it in the trash can.  He asked her if she had a appointment address book in her purse.  She did.  He told her to start calling all her friends in her address book and tell them she just got into real estate. 

     He told me every time he walked by her desk, she was laughing and talking on the phone.  She was catching up with old friends.  Next month she was the number one listing agent  in the office.  That was probably beginner's luck. 

     Send out those two hundred cards.  This is solid gold.  There are other ways to prospect and maybe there are better ways to prospect.  This is what you need to do first.  Did I say first?

     Save that list.  You will need it again in six months.

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