Buyers Are Unreliable
I went to college so I wouldn’t have to dig ditches anymore, but then I got into real estate because I couldn’t get a good job with my degree. I got licensed to sell oceanfront condos in Myrtle Beach, then started working with buyers. You know the roller coaster – one month I’d sell a few properties and then I wouldn’t sell anything for the next two. I knew what I was doing wasn’t working well, so I kept my eyes open, looking for something new.
Three Things Listing Agents Need
I joined a new office and met a guy who listed tons of properties. I followed him out the door one day and asked him what he was doing differently. He told me three things: 1) he had a coach, 2) he prospected every day to generate new business, and 3) he had a consistent amount of leads to prospect. I was sitting around waiting for something good to happen, and he was out making good things happen. While I spent 3-4 hours a day combing through classifieds to find people to call, he spent 3-4 hours a day on the phone actually talking to people.
Prospect Every Day
He had a highly predictable business because he knew all his metrics. He knew how many calls, contacts, appointments, and contracts he needed to get a sale. He told me, “If you have 50 buyers, you can’t show them all a property this week. But if you have 50 listings, they could all get shown today.” So I started building my business around that. I got a schedule, went out on a limb, hired a coach, and started prospecting REDX leads every day. That led to where I am today. Back then REDX only did Expireds, but now they have all sorts of leads to call.
Vacant Property Leads — Alternative To Expireds And FSBOS
One of my favorites from REDX is their For Rent By Owner Leads. These absentee-owner leads are great because I find many owners unsuccessfully trying to rent out their properties. That means they’re paying a mortgage on an empty rental. Talk about a stressful money hole! So I approach them to see if they’d be interested in selling the house and cashing out. If they’re interested I set an appointment, and if they want to keep the property I follow up every week or so to see if it’s still vacant. Because most prospectors are just focused on Expireds and FSBOs, these leads generally haven’t talked with a bunch of other agents by the time you talk with them.
