The Reluctant Prospector

Live in the SWS Virtual Studio on Thursday!

Contrary to what you may have always believed, being an introvert is nothing to apologize for, overcome or make excuses for. No, not even if you're a real estate agent! In fact, around here, we believe that introverts actually make exceptional real estate agents, so if you lean toward the introverted side of the personality spectrum, you're among friends.

If you want to read more about why I think introverts are so special (aside from the fact that I AM one myself), just go here: www.TheReluctantProspector.com. Or check out my blog especially for introverts here: www.The-Reluctant-Prospector.com.

But as wonderful as I believe we are, there's one place we don't always shine. And that's in the social arena. Networking. Socializing. Partying. Making small-talk (ugh!). There's no place I'd rather NOT be than at a Chamber of Commerce after-hours cocktail party! If by some terrible mistake I find myself at such an event, I'm almost sure to be hiding in the corner, slinking as inconspicuously as possible toward the door.

However, the fact is, being a successful real estate agent requires a level of social interaction with the outside world. After all, PEOPLE buy and sell homes, so the more of those people who know us, like us and trust us, the more real estate we're likely to be hired to help buy and sell. And the best way for people to know us... so they can like us... and trust us... is to BE places where other people tend to be and to, yes, have conversations with them!

And you know what? Socializing doesn't have to be painful or scary, and it doesn't have to be expensive or time-consuming. It can actually be FUN (and profitable) as long as you stay true to your wonderful introverted self and don't put yourself in situations where you'll be uncomfortable (or when you do, have an exit strategy!).

That's what we're going to talk about at the next SWS Teleseminar show. I'll have Susan Haughton with me who happens to be an introvert as well, and we'll both share our tips for socially staying connected with the people we already know, and for meeting new people to inspire to support our real estate businesses.

Even if you aren't sure you're an introvert, you might want to attend, if for no other reason than to better understand the introverts in your own life. And you never know - you might decide that you, too, have a bit of a wonderful introvert in you! 

Sound like fun? If so, please mark your calendar and join us on November 17th!

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THE DETAILS
Date: Thursday, November 17th, 2011
Time: 8:00am Pacific / 9:00am Mountain / 10:00am Central / 11:00am Eastern (Please show up a little early to get settled in.) 
Duration: 60 - 75 minutes
Equipment Needed: A computer with a high-speed connection and speakers or a telephone.
Cost: Free, but you must register, below. 

Register For the Show Here

"You Have to List to Last!"

Ever heard that before? Probably so - most real estate agents have heard this advice from their well-meaning mentors, trainers, gurus and associates. It simply means that if you don't have listings (that is, that you represent sellers), you won't succeed in your real estate career.

There are plenty of reasons industry pundits feel this way, and some of those reasons are absolutely valid. As a solo agent, you can probably handle far more active listings than active buyers. Listings have the potential to generate even more business, both from sellers who see your sign in their neighbors' yards and from buyers who call you to inquire about your listings. Listings give you something to advertise in print media or online. And there's just something about being a strong listing agent that feels more "mature" than being a strong buyer agent.

My feeling on the matter is that an ideal business model has agents working with both buyers and sellers, more or less equally. After all, the purchase transaction and sale transaction of a home are two sides of the same coin - you can't sell a home without a buyer and you can't buy a home without a seller, and the more you know about the other side of the transaction, the better you're able to advise and support your buyer or seller client.

But the fact is that not everyone is well-suited to be a listing agent! Yes, I said that out loud. Some agents will be far happier and therefore more successful working primarily with buyers and there's nothing in the world wrong with that!

This Thursday, May 5th, Jim Kimmons, the About.com real estate guru(!) and I will talk about the myth of Listing to Last and help you decide if working primarily with buyers might be a good fit for you, and we'll all learn more about Jim's own exclusive buyer broker business model in Taos, New Mexico.

Join us? 

THE DETAILS
Date: Thursday, May 5th, 2011
Time: 8:00am Pacific / 9:00am Mountain / 10:00am Central / 11:00am Eastern 
Duration: 60 - 90 minutes
Equipment Needed: A computer with a high-speed connection and speakers or a telephone
Cost: Free to attend live, but you must register, HERE.

If things go as planned, my next book will be released sometime in late April... so this week's show is a sneak preview of what's in that book and, frankly, a little pre-release marketing to boost pre-sales! (How's that for transparent?)

As the title implies, we're going to talk about choosing the right prospecting methods for you - or, as the subtitle of my book promises "Discovering the Perfect Prospecting Strategies for Wonderful, Extraordinary, One-of-a-Kind YOU."  Because you ARE wonderful, you ARE extraordinary and you ARE one-of-a-kind! And your approach to building your business should reflect that. 

Because you know what? You CAN choose which prospecting strategies you're going to implement - and which ones you'll reject. It doesn't matter what anyone else thinks you should do, this is YOUR business and you can (and should) run it your way. In fact, you'll be far more successful, not to mention happier, if you figure out what works for you, what you enjoy doing and what you're good at. 

Sounds obvious, doesn't it? But so much of our training pushes just the opposite - that we need to do things we dread doing; things that embarrass us or make us uncomfortable if we're to have any hope of succeeding. 

BAH! 

Anyway, on March 31st, we're going to talk about this and much more, and I'll walk you thru some self-evaluation exercises to help you strategically figure out what prospecting methods are right for you at this stage of your life and career.

Join us?

THE DETAILS
Date: Thursday, March 31st, 2011
Time: 8:00am Pacific / 9:00am Mountain / 10:00am Central / 11:00am Eastern (try to show up a few minutes early to log in or dial in)
Duration: 60 - 75 minutes
Equipment Needed: A computer with a high-speed connection and speakers or a telephone
Cost: Free to attend live, but you must register below.

TO REGISTER FOR THE SHOW
www.SellwithSoul.com/perfect

"Okay, I'm convinced. I need to Blog, Blog often, and Blog well. But, but, but... what on earth do I Blog about?"

I get this question in my inbox and on my SWS forum several times a week. And it's a good question! One we all asked ourselves at that point we were persuaded of the value of the Blog.

In fact, it's such a good question (and so frequently asked) that I decided to bring a few people who obviously came up with some good answers to the SWS Virtual Studio to share those answers with all of us.

On Saturday morning, May 22nd, four of Active Rain's powerhouses will convene in the Studio with me to share their thoughts on what inspires them to Blog - how they come up with topics, what topics seem to work best and how they stay motivated.

And these are folks who know what they're talking about. All have at least 400,000 Active Rain points and 800 Blogs posted. They're all among Active Rain's top subscribed Bloggers, so they obviously offer good material that people like to read. And all attribute a significant portion of their business to their Blogging efforts.

How could you NOT want to hear their brilliance?

My guests on May 22nd are...

Jeff Belonger
500,000+++ points

Broker Bryant Tutas
700,000+++ points

Erica Ramus
400,000+++ points

Loreena Yeo
Coming up on 600,000 points

Join us? It's a freeeee show... here are the details and registration page!

The live show is over - but here's a link to it. I had a great time; hope the audience did, too... there's some good stuff here if I do say so me-self. Thanks Jon!

Hey, if you have a minute (okay, an hour) in the middle of the day today (12:30 eastern), please consider tuning in for my interview on the Introvert Experience with Jon Hansen! He sent me an outline of the program last night and yipes! He has some good questions - ones I've never answered before... some I've never even thought much about.

I better do that - give them some thought, that is.

Below is the promo for the interview. If you want to join us, here's a link to connect: http://www.blogtalkradio.com/jon-hansen/2009/12/16/the-sincere-introvert-sincerity-and-vulnerability-

The Sincere Introvert: Sincerity and Vulnerability in the Age of Personal Branding
As host of the PI Window on Business Show, I have had the opportunity to speak with The Twittering Granny, Canada's Trade Minister, Maine's gubernatorial candidate Matt Jacobson, bestselling authors too numerous to list and industry thought leaders.

Suffice to say each one provided invaluable knowledge, insight and great entertainment for all of us. However, and even with this great constellation of guests, in a world in which personal branding is the key element of building one's profile and establishing an enduring presence, Jennifer Allan caught my attention!

Perhaps it was the fact that she is an admitted introvert? Or maybe it was the simple yet powerful expression of her belief that "the secret of success for real estate agents (Jennifer is a former top producing real estate broker), and other entrepreneurs is not in aggressive marketing techniques or hard-core sales pitches, but rather in being competent in one's craft." A quiet competency if you will that establishes confidence in those with whom she seeks to connect and serve.

A published author, a speaker and a trainer, Jennifer has written five books about the business of selling real estate, including her flagship book: Sell with Soul: Creating an Extraordinary Career in Real Estate without Losing Your Friends, Your Principles or Your Self-Respect.

Jennifer also has a new book that is scheduled for release in early 2010 entitled "If You're Not Having Fun Selling Real Estate, You're Not Doing it Right!"

In the context of the old saying "I can't hear what you are saying because your actions are speaking too loud," I cannot help but think that this champion of the "quiet" brand is perhaps on to something in what is the fast-paced world of social media and social networking.

I am of course pleased to be joined by Jennifer Allan on today's show to talk about her version of building an effective personal brand.

Real Estate Is Not a Numbers Game!
(at least, it doesn't have to be)

You've heard the cold caller's philosophy...for every 100 phone calls you make, you'll get five appointments; for every five appointments you go on, you'll get one listing. Therefore, if you make 500 phone calls, you can count on five listings as a result. If your average listing commission is $5,000, then every phone call is worth $50 since it takes 100 phone calls to get a listing. Supposedly you will actually start to enjoy each rejection, because you realize that every 99 "no's" equals a "yes" which leads to a paycheck, since every "no" means you are one step closer to a "yes." Sound fun?

Not to me. In fact, it sounds like an awful way to make a living. Pestering people for three hours a day asking the poor sap who answers the phone if he "knows anyone who's thinking of buying or selling real estate?" Being rejected 99 times out of a hundred, voluntarily? Ick. Phooey. Blech.

So tell us how you really feel, Jennifer!

Okay, thanks for asking, I will.

The State of Colorado's Division of Real Estate did not grant me a real estate license so that I could be a professional prospector. I have to assume that good old DORA intended for me to spend a significant amount of my time serving the clients I am honored to have today instead of tracking down the ones I hope to have tomorrow. Taking good care of my listings and my buyers. As my first priority. Not as an afterthought when I can squeeze them in around my prospecting and networking efforts.

But, but, but....!

Yeah, I know. As self-employed types, we have to ensure ourselves a steady stream of business to keep the home fires burning in the style to which we intend to become accustomed. Hey, believe me, I never took a vow of poverty and I don't sell real estate out of the goodness of my heart. I've had $50,000 months before, more than once, and I could happily get used to that!

But you know what? I have never cold called, I have never knocked on a stranger's door... in fact, I've never even asked a stranger for business. Ever. No, not even FSBO's or expireds.

For ten years I have depended on my SOI for 100% of my business. And they have generously delivered. Sure, I've picked up the odd client here and there from floor time or open houses; maybe two or three a year, which is nothing to sneeze at. But the vast majority of my business comes directly or indirectly from the people I know or meet.

And every client is special to me. Even precious. Okay, admittedly some are a pain in the ass, but I still appreciate their business and the juicy commission checks I get as a reward for putting up with them. But most of my clients are pleasant people with a real estate need who simply want to be treated as if their business is valuable to me. Not like a number.

When you depend on your SOI for business, you bow out of the numbers game. And it's wonderful. No more dragging yourself to the phone for your daily cold calling session. No more searching the real estate ads for your next FSBO target. No more beating yourself up because you'd rather take a nap than finish up your 10 HouseValues CMAs that are due today.

When your pipeline is running low, you have a little Super Bowl party. Or send out some friendly personal emails. Or ratchet up your "take-a-friend-to-lunch" campaign. You don't need 20 more clients today; just two or three good ones will restore your mood. And pad your bank account.

SOI business is good business. It's loyal business. It's fun business. The success ratios are more like 50%-75%, compared to 5-10% from traditional lead generation (and that's being optimistic!). So if you get 100 leads from your SOI, that will result in 50-75 closings from you.

So how does it work exactly? Glad you asked.

SOI business comes in one lead at a time. But the leads are good leads, leads that will likely result in a closing. And, depending on your market and your broker split, each lead-that-will-probably-result-in-a-closing is worth thousands of dollars to you.

So let's say you have 20 close friends. If you have implemented a respectful, consistent SOI campaign, you, obviously, are the agent of choice for most of them if any happen to need a real estate agent this year. Maybe that will only get you one or two sales; or maybe your friends are a restless bunch and you'll get five or six.

You should also get the family business of your 20 nearest & dearest. Katie's grandma moves to town to be closer to her grandchildren. Fred's brother-in-law needs a referral to a Las Vegas agent. Maria's sister gets engaged and needs to sell her condo. Her fiancé wants to sell his too. There's a good chance you'll get first dibs on this sort of business. So let's say you pick up three family members.

Let's not forget everyone else your 20 friends know. If just half of your friends refer you to just one person, that's 10 more clients for you. What if all of your friends refer you to one other person? Or if three of your friends each refer you to five of their friends? What if you have 30 friends? 50?

Oh, and what about everyone else in your SOI? The other 150 people you know and stay in touch with? Your husband's assistant? Your dog trainer? Your massage therapist? Depending on the strength of your SOI campaign, you might see 5-15 sales a year from these folks.

And we haven't even talked about the NEW friends you're going to make over the next 12 months! If you're out there in the world, with your antenna up, you will run into people who happen to be in need of real estate services. If you approach them right, that business is yours. Maybe that's another five sales for you.

So add it all up and you're selling some real estate! All without treating anyone like a number.

Unless you're striving to be a mega-producer with 10 buyer agents scurrying around underfoot, you really don't need to go after every buyer and seller in town. This is what I mean when I say that Real Estate is Not a Numbers Game. The business that you can generate from your SOI and from your own social encounters really ought to be enough.

And the best part? If you spend a few years building a strong cheering section (i.e. your SOI), you can coast through the rest of your real estate career. NO prospecting, NO marketing budget, NO sleepless nights worrying about where your next closing is coming from. Now, that's a lifestyle I could get used to (and I have).

http://www.sellwithsoul.com/

copyright Jennifer Allan 2007