If you could start over, what would you do differently??

[Rosalina Brenda Berk]

Calling all seasoned real estate agents, (5+ years of experience), 

I am a brand spanking new agent, (I passed my state exam three weeks ago and joined Coldwell Banker almost two weeks ago), and I would love to hear your best advice for a newbie starting out. 

If you could start over, what would you do differently knowing what you know now in terms of lead generation, connecting with people, balancing work, life, second jobs, etc? 

Thanks in advance for your input. I really appreciate it. 

-Brenda Berk

[Karl Krentzel]

Awesome Question! 

Looking back... almost 19 years now... (19 years in May.)

After two coasts, hundreds of transactions, thousands of clients and hundreds of hours teaching agents the ins and outs of real estate has taught me a few things.

I've been hired by the Council of Residential Specialists (CRS) to teach, I've spoken professionally across the United States, and I can assure you that there are only a few things you need to know in order to be successful in real estate!

It's Simple, But Not Easy! 

I am going to share with you a simple 5 Part Formula of everything you need to do to get your "one deal per month".  

If you follow these five steps, you will be guaranteed to make your deals happen!

Step 1. Lead Generation... By Any Means Necessary!

You must learn how to generate leads. Understand that there is a difference between a prospect, and a lead. A "Prospect" is someone who "says" they want to sell. They might even have a sign in the yard!

A LEAD however, is someone who will sign a contract in the next 7 days. They HAVE to sell, and are going to make a decision NOW!

Find these leads free via the usual suspects... FSBO, For Rent By Owner, Expired Listings, MLS Listings, Craigslist ads, and more. They are all free lead resources for you! (If you want a script book filled with the scripts you need for that, then thats cool, just let me know.)

Step 2. Lead Followup... Be Relentless!

If they have to sell, and are willing to sign a contract in seven days, then you must be relentless in your followup!

Know that you aren't the only game in town! There is nothing that a motivated seller loves more than a motivated, ready to buy buyer!

Call them to get the appointment to see the home, call them after you leave, call them all the time until you get them under contract... then keep calling!

Step 3. Pre-Qualification... Don't Waste Time!

Now that you have the appointment, the job isn't over! By No Means!

Now you need to determine if they are a viable candidate for whatever exit strategy you may want to use. This would include running comparables, checking repairs in similar properties, talking to your existing network to find what they would pay for something that the subject property in that area...This is the time to do research to determine if you really want to go or not.

If it turns out that you do not want to go, or they aren't quite motivated enough yet; you can always gracefully cancel the appointment and keep the contact and followup over time.

If it turns out that it is a great appointment, then you are already prepared for the appointment... best of all, if you do it correctly, you will know their objections in advance!

Step 4. Present and Sell!

Now is your time to shine! It's "Showtime!" as one of my mentors used to say! You have approximately 20 minutes to make the case as to why they should sell their home at a discount to you!

It's not easy, but there are methods to explain it. I prefer using "The Pawnshop Presentation" (PM me if you have questions about that)

It's sure that they may not always agree with your price! Therefore, learn how to obtain, present, and explain comparables to help them understand that the retail price of their home is probably X. They want Y, and you are going to offer Z.

Step 5. Answer Questions and Close!

This is the most exciting part!! This is where they obviously will have questions (objections) and you (being smart!!!) will have already pre-memorized all the Ten Most Common Objections Handled! Scripts that I have!

That will give you the confidence to ask for them to sign the contract!

Remember!

3 Part Formula For Success!

In closing, let me share with you a three part formula for success in real estate that has worked for me. I hope it brings you the same success as it did me!

1. Each week, Work to bring in a salable contract first!
2. Work on Selling your Own Inventory First!
3. Keep Your Promises, to Yourself... and Others!

If you do those three things, each week... you will undoubtedly find success!

Have a Powerful Sales Day!