How to Fail in Real Estate Part 1

If you are interested in what it takes
to fail in real estate, then you may enjoy
the humor (and reality) of this series...

The first way to fail in real estate is to...

Wake up...
Start work...
And react to events all day long...
Without any real plan or purpose to follow...

And that's what average Realtors do.

But what do the top producers do?

They wake up and invest the first hour of
each day into income generating, lead
producing activities.

And then of course, the rest of the day resumes to chaos as usual :-)

But it doesn't matter, because a top
producer has protected their first hour...

Here's a tip to start the hour off:

In general, the highest dollar per hour activity
is to call 5 past clients each day, check in,
and at the end of your conversation, ask
them for referrals.

If done correctly, every fifth call should net
you at least 1 hot referral.

Stay tuned for Part 2 of "How To Fail In Real Estate" next week,

Key to Sales - Follow Up!

This post is especially for our Executives. Many times we forget when sales really happen. I was rummaging through some training material and found this and thought it would help.

2% of all sales are made on the 1st contact
3% of all sales are made on the 2nd contact
5% of all sales are made on the 3rd contact
10% of all sales are made on the 4th contact
80% of all sales are made on the 5th to 12th contact

Remember people are simply not ready to do business on the 1st contact and it takes time for leads to trust you. When they trust you only then do they feel comfortable about contacting you and doing business with you.

What does this tell us?

1. Follow up is the most important skill you can ever have.
2. You must follow up no less than 12 times per lead to guarantee success.
3. You simply cannot do follow up manually - you must have a system in place.

Whatever type of business you are in, lead follow up is key. So, what type of lead follow up system are you using? Is it working? If not, email me for my lead follow up system at Derek@UTEXPERTS.com - I am happy to share some more ideas that have worked for me.