Thursday, August 23, 2012

If You Need Money, Prospect

     This week, I am teaching my favorite class to teach at Climer School of Real Estate, the forty five hour post license class.  This class is about how to make money in real estate.  It is about how to get listings and make sales.  We talk about answering objections and making effective listing presentations. 

     This is stuff that you need to know if you intend to make money selling real estate.  Many people tell me that they have a desire to make money.  Don't tell me that you have a desire to make money.  Show me.

     You can demonstrate that you want to make money by showing up at the office before anyone else.  By the time the second person walks in the office, you have already got today's expired off the computer, looked up the phone numbers of the ones you can find, addressed a letter to each one of these expireds and put those  letters in the mail at the main post office downtown.  Since it will probably be long after eight o'clock before that second person walks in the office, you have already called a few of those expired listing and have appointment with one of them.  If you are doing that for about thirty days in a row, I will believe that you are serious about making money.

     Stop with the excuses.  Don't make an excuse for not making money.  If you are not making money in real estate, it is probably because you are not prospecting.  Why don't you call prospects?  You know why.  I know why.  Your boss knows why.  You are afraid.  Do it.  Call a prospect even if you are afraid.  You don't have to " Don't be Afraid.".  You have to call even if you are afraid. 

     If you are in real estate, the prospects are FSBOs, expired listings, and foreclosure victims.  The only reason not to call is you are afraid.  Call them anyway.  If your phone is not ringing, you have to dial the phone.  I did not make this rule but I understand it.  If you obey this rule, you will make money.  If you have some grandiose plan to make the phone ring, wonderful.  Until your plan starts to work and the phone starts ringing, dial the phone.  Call some prospects.  If you are too busy to call prospects,  quit doing some of the stuff you are doing that is not turning into money. 

     Start calling prospects before it is too late.  You must have money coming in the front door.  If what you are doing is not leading to a closing, start doing something that will.  Call a prospect.  If prospects are not calling you and you are not making enough money,  you will soon have to leave real estate and take a job that you not only hate, but will not allow you to earn the money that you want to make.

     Prospecting is the key to success in real estate.  The details are not important.  Whether or not you are talking to prospects is important.  If you are talking to good prospects, you will make money in real estate.  If you are not talking to prospects, you won't.  How you get face to face with a prospect is unimportant .  They call you.  They find you at an open house.   They see your ad on some website.  You call them when their listing expired.  They read your blog on Active Rain or Eblogger.  You met them at a Chamber of Commerce event.  It does not matter where you meet prospects.  It matters that you meet prospects.  You have to talk to prospects to be successful in sales.  

     When you wake up one day and say to yourself," The sun will not set today without me shaking hands with a prospect.", your problems will be over.  If you can get committed to that one simple concept, you will be on the right path.  Thousands of Realtors do not understand this concept.  Many Realtors get caught up in some deal from hell that will probably never close.  They spend hours trying to fix an unfixable problem.  Just find a new prospect.  Someone else in the transaction can fix the unfixable problem. 

     If you wake up on the first of the month with no listings and no pendings, it is going to be a dismal month.   You have to have listings before you can have pendings. This is not the chicken and the egg.  We know which came first.  Find  a prospect.  Get them listed.  Get it under contract.  We go to closing.  That is the order.  If you want to go to closing soon, get a listing today.  If you want to get a listing, find a prospect today.  If you don't have any prospects calling you, call a prospect.

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