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Archive for May, 2013

As many of you know, our crop of supportive Relentless Realtors followers comprise some of the coolest people in Real Estate from across North America. Plus, regularily, e-mails and comments from places like Austrailia, England, South Africa, and others continually grace our inboxes…  Getting engaged in many great discussions, all prodded by what’s shared here, is our goal and it’s just an extra if the advice here is of use to you, our loyal readers.  Of course, we encourage communication  anytime, good or bad, compliment or complaint. Continue to bring your questions, your concerns, your contributions, and your directives so we can keep presenting what we believe to be solid and candid advice to hard working, prefessional real estate practitioners anywhere the internet shines a leading light.

In that vein, recently, a good friend of Relentless Realtors, David Thompson from Winnipeg Canada (www.DavidThompson.net) connected with Rick and wanted to share some ideas and techniques he’s used  working with those pesky FSBO’s – you know, those sellers who think selling a house is easy, that professional Realtors are grossly overpaid, and in essence AREN’T worth the fees attached to listing and selling. His success rtate with FSBO type clients is way above normal, way above average.

About David Thompson: Some of you probably already know David from Winnipeg, Mb. Canada as a solid family man and successful agent in what’s been called a “very under-valued city” in Central Canada. He and Rick met in 2001 in Orlando Florida as students at a Real Estate Conference and have been close friends ever since. Together, they’ve traveled the width and breadth of North America as both ardent students and sharing speakers. David is also a recipient of the very coveted, Quantum Leap award. 

David’s career spans more than 20 years and would certainly be the epitome for ANY agent chasing success and sustainability. Always  maximizing the selling conditions of his unique market, David’s tenacity has earned him “Top Producer” status and he’s well known locally. Today, as both a high volume sales agent and, most recently, a private success coach, David continues to extol the value of developing a business mindest through an adpatation of a repeatable systems implentation model. He’ll tell you if you ask, “the best most profitable buinesses anywhere use systems and technolgy to drive their success and there’s absolutely NO reason why we can’t emulate that as Realtors.”

We agree and we salute Davids Relentlesness!! Hope you enjoy this great post

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THE LESSON OF WILLIE SUTTON…

After his capture by police in the 1930s,famous bank robber Willie Sutton was asked why he robbed banks and his answer was “because that’s where the money is”.

If you are an active Realtor and you want to increase your productivity then you want to increase your listing inventory. If you want to increase your listing inventory then you need to create a system to target FSBOS because “that’s where the money is”.

Now <two> very important things to understand before we go any further. Even if you are in a slower “buyers” market you still want listing inventory because no matter what anyone says the “best,ready to act buyers” will come from listing call spin off. I have had plenty of transactions occur off ad call/sign calls from listings that may never have sold but if you average one transaction per listing whether it sells or not that you will never have a cash flow problem (more on how to do that in my next <post>). The second thing to understand which is very crucial is that when I say “target listings” I don’t mean chase after them. Actually I mean the opposite: have them contact you. (read that last sentence again).

Folks it’s called reverse prospecting and it works and has worked for many years and that’s not all….the good news is that it is not market based, it’s human nature based so I don’t want to hear ” that won’t work in my market”. What,you don’t have humans in your market? <please know> I didn’t invent this idea at all, I learned this from studying Craig Proctor’s Quantum Leap System (www.TheProctorProgram.com) for over 10 years plus I have studied the subject of FSBOS for 25 years as an active Realtor and been on for sure thousands of direct contact FSBO appointments so while I don’t know a lot about a lot of subjects this is one I feel qualified to speak about.

The reason I targeted FSBOS in the first place was because when I first started and the Realtors who were giving me “guidance ” explained the way to get business was to either call people randomly out of the phone book and ask for business or to sit in somebody’s house on a Sunday for 3 hours, these just didn’t seem to make sense to me.

I thought why would I cold call people out of the phone book when there were tons of people in my market advertising their homes for sale every single day of the year?  Why would I make 300 random phone calls to find a needle in a haystack when their were people who were standing on their roofs waving a red flag to tell me that they were selling their home and needed my services – they just didn’t know it yet!

And then I realized that these “mentors” in my office did not teach or encourage me about FSBOs because they perceived that there was tons of rejection involved and that many other Realtors were calling these people. Both of those things may be true but the good news is this can be done with zero rejection and can be done in such a way that nobody in your market is doing right now.

The other very cool, and in fact, very powerful thing about the concept of reverse prospecting is that not only does it work like the name implies (prospect contacting you) but it does something even better-it changes the POWER DYNAMIC between you and the FSBO. Every FSBO feels they have the upper hand in this relationship because every eager Realtor in their market is calling them with every pitch in the book. But when they contact you everything changes. You immediately have the upper hand in this relationship and the prospective client has given it to you just by virtue of the action that they have contacted you.

You have created such an effective and compelling reverse prospecting marketing piece that it makes it virtually impossible for them not to pick up the phone or send you an email ASKING YOU for an appointment.

What is this one – two punch that makes these most difficult yet lucrative prospects compelled to contact you instead of the other way around?

Keep following Relentless Realtors for my next <post>  to find out the EXACT answer to my proprietary system that I have developed, tracked, and tested and find out what my “real world” and documented results are and then start implementing it yourself in your market.

It’s simple and it works.

Until next time…..

-David “DT” Thompson  “the Fsbo hunter”

PS… Oh and do you have a system for pre-foreclosure leads yet? I have one of those also in case you have any pre foreclosure situations in your market……..

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