A Fresh Approach to Real Estate Rookie-hood with Jennifer Allan: May 2007

We old fogies (those of us with more than a year of experience) like to advise the newbies in our lives on how to work efficiently and productively and Gawd Forbid - how not to WASTE TIME!

What are some "time wasters" in our business?

How about:

1.  Working with an unqualified buyer?
2.  Talking to renters
3.  Showing a listing to an already-represented buyer (who calls off the yard sign)
4.  Preparing a CMA for a seller who wants to move "sometime next year"
5.  Having lunch with friends who already know lots of real estate agents
6.  Helping an acquaintance appeal her tax assessment

Well, in this old fogie's humble opinion, there's NO SUCH THING as wasting time in your first year if you're doing something that:

1.  Puts you in front of a warm body and/or
2.  Teaches you about the real estate market

Let's take example #3 - Showing an office listing to an already-represented buyer.

Here's the scenario. You're sitting on floor time twiddling your thumbs, or maybe working up the nerve to call a few FSBO's. The phone rings. You find yourself talking with a buyer who is sitting out in front of one of your office's listing. He wants to see it right away. He tells you he already has a buyer agent, but he can't seem to track him down today. He's just so busy, y'know. So... can YOU show it to him?

Option I ~ Tell the "buyer" in no uncertain terms that you don't work for free and he needs to wait for his own agent!

Option II ~ Cheerfully say "Sure! Give me some time to notify the owner and I'll meet you there in 30 minutes! What's your phone number in case there's a problem?"

Let's say you select Option I. Here's what you accomplished.

You're still sitting at your desk, twiddling your thumbs, but by gawd, you didn't waste your time. And, oh yeah, you probably confirmed the buyer's opinion that real estate agents are jerks.

Conversely, with Option II, you:

~ Practiced showing homes and building rapport with strangers
~ Possibly learned just a little more about the market
~ Met someone who just might end up being your biggest referral source (you never know)
~ Met someone who just might be the love of your life (you never know!)
~ Got your arse off the chair and OUT INTO THE WORLD
~ Improved, just a little, the public's perception of real estate agents

And maybe, just maybe... you'll get yourself a client if the buyer decides you're way cooler than his missing-in-action agent.

Sounds like a no-brainer to me. Get off your butt and go waste some time!

Sell with Soul
Creating an Extraordinary Career in Real Estate without Losing Your Friends, Your Principles or Your Self-Respect

Subscribe to
Confidence-Builders for the Rookie Real Estate Agent

copyright Jennifer Allan 2007

I'm a fan of reverse psychology in real estate. I blogged about it a few months ago and have since made a long list of ways to use reverse psychology in our business. It's a fascinating concept, really.

But just last night, one more possibility occurred to me. I'm not committed to this position yet, so help me out!

As the self-proclaimed Master of All Things SOI, I encourage everyone to respectfully seek business from their friends and family. If done right, it works. And works beautifully.

Lots of agents argue with me. They claim to "hate to work with friends or family," for a variety of reasons. Most of their reasons don't hold much water, but I'm not here to argue that opinion right now (be happy to, later, though if you like!).

But I'm realizing something... Friends ... and... FAMILY are two different animals.

Seducing your friends for business and referrals is pretty easy. Family? Not so much.

I read a post yesterday on a different forum about how the OP (original poster) was furious with a relative for not hiring him to sell her home. OP said "THIS is why I hate working with family!" It made me think. Many of my consulting clients bemoan the fact that they're getting very little support from their families. Their friends are gung-ho about the agent's real estate venture, but not their blood relatives. Weird, huh?

Maybe - I dunno.

But anyway, (finally getting to my point) how about trying out this solution?

Howza'bout you send out a personal letter to your family members telling them the following:

1. You are a real estate agent (if they seem to have forgotten)

2. You love your job (show your enthusiasm)

3. You have made the decision not to work with family members (!) because of possible conflicts of interest

4. However, you would truly appreciate the opportunity to counsel with your beloved relatives and help them find the perfect agent for their situation. (referral fees are cool!), and would be available to them throughout their transaction for advice.

Here are some of the benefits I see in this strategy:

1. People want what they can't have. You might find your relatives actually begging you to be their agent

2. By showing your willingness to help your family without the possibility of a paycheck, you demonstrate your professionalism, which will probably result in referrals.

3. If a relative does take you up on your offer for help finding the right agent, you can always change your policy if it seems appropriate.

4. A lot of stress is relieved among family members that you aren't going to be bugging them for business.

What do you think? This idea is about 12 hours old, so suggestions and arguments (and of course, any commentary on my early morning brilliance) are welcomed!

www.sellwithsoul.com

Subscribe to
The Daily Seduction
Tips & Inspirations to Generate Business from the Very Important People Who Know You!

copyright Jennifer Allan 2007