I just started out as a Realtor on the North Shore in Massachusetts. Not being from the area, I was looking for advice from any other agents or realtors on building up a decent client base. I know the market is slow here, as it is everywhere, but any advice would be appreciated. I have sent out cards to friends and family and am being trained, but would love to hear any input on the dos and don’ts.
I would like to inform you what, possibly, NOT to do. THEN what you should do. THEN you should be able to make your decisions and proceed from there.
DON’T fax every person in every office the same fax about your listings or services. Its not necessary. Many offices have a bulletin board or the agents can go on-line to the brokerage web site OR YOUR web site OR YOUR broker‘s site.
DON’T text message for the same reasons.
DON’T use direct mail to promote your listings and services.
Some time ago, I read a statistic which may or may not be true today:
FOR EVERY piece of direct mail a company or an individual sends, ONLY 1 in 100 will respond to that direct-mail promotion.
At today’s postal rates – 1st class – that’s $41 you could use for other purposes. THAT’S the cost JUST for the reponse! This DOES NOT include the cost of buying the stationery and envelopes, toner etc.
JUST to get the appointment is 1 in about 250-500. Your costs are accelerating, aren’t they? AND you STILL DON’T have a sale!
It takes about 1,500 to 2,000 direct mail pieces to get JUST one appointment ALL the way to the closing/settlement/escrow.
That’s about $600 to $800+ before you see one dollar – not to mentin your time – "spinning your wheels", wasting your time.
((((You haven’t made the sale – yet.)))))
DON’T lease or spend [notice I didn't say "invest"] your hard-earned money for a piece of equipment with automatic phone dialing and recording/speaking features, telling agents about your listings and services.
Do you like getting those telemarketing calls?
Do you like or mind getting any telemarketing calls?
If I haven’t discouraged you, we’ll move on to the "grey area": "cold canvassing".
Its a terrific way to meet people face-to-face, one-on-one! It requires going to the same houses about once every two weeks – or even more frequently.
Know your market AND your product. Know how to solve various situations ["problems"] which arise on a regular basis.
When you DON’T know how to solve those problems, you KNOW what hoops and hurdles you have jump over, under, around and through to speak with the right person to get the answers and solutions to get your deals to the settlemnt table/to closing/to escrow.
The above are the DON’Ts, here are a couple DOs:
AND what about the cost of your business cards? Do you think you can "cut corners" and make a good impression with those thin, flat, lifeless, computer-generated cards?
PLEASE DO yourself a HUGE favor: Invest your time to sit down and properly design your business cards. If you aren’t sure, please go to a professional printer or graphic arts store and ask for help and guidance. Those folks should amaze you with ideas and concepts. In the long run, good, professionally printed business cards with raised lettering and features, go a long way to show others you care – about yourself, about your business and about your clients.
When you leave, your contacts and clients have two things:
1] Good, bad or indifferent – the impression you left.
2] Your business card.
Don’t you think it makes good sense to invest your money in a good, quality business card? Have your cards professionally printed.
Find an investment group – or two – or more with professional real estate investors. JOIN it/them &&&&&&&&&&&&& BE ACTIVE!!!! Get on committees, get to be known as a "can do" type of person. You should have fun [and Yes, some aggravation, too]. You should make some friends and begin building your client base. You should get leads! AND look how much time, money and aggravation you’ll save! LOTS!
As the saying goes, "Build a better mousetrap and the world will beat a path to your door."
What the saying doesn’t tell anyone or even mention is: YOU MUST get out there and let "the world" know about that better mousetrap!
Thanks for asking your Q! I enjoyed answering it!
VTY,
Ron Berue
Yes, that is my real last name!