Day #51 of 100 Days of Prospecting
So the awards banquet went well last night. Had a good time and hung out with good people. Great seeing so many people doing so well.
Let me tell you one great thing about being in real estate – and RE/MAX in particular. MOST of the people who are living in America today have pretty much ZERO expectation that they’ll ever earn $100k per year. Those that do think they’ll achieve that mile stone believe that they’ll pretty much get there 10 years before they retire which means they expect to get all the coin when they don’t have kids to raise who need it.
MOST men in particular believe that they’ll ALWAYS have to have their wife work in order to keep their family going strong. There’s no plans for living a really epic life all on one income….because everyone knows that starts at $100k and they don’t plan on seeing that level of income show up in their bank account alone. If the household ever is going to a achieve six figure income level it’s because there will be two people working to make that happen.
That’s most of America.
That’s not RE/MAX. There were TONS of RE/MAX agents who were part of the 100% club. Meaning that they had earned at least $100k but hadn’t gotten to $250k. I’m talking at LEAST 1/4 of the room. And there were only about 500 agents there. There were DOUBLE that many who earned the entry-level award for those making $50k to $100k.
So this whole thing about the average real estate agent earning $36k per year and doing only 6 transactions is very much a foreign idea to RE/MAX agents. That whole thing is just not part of our culture. Maybe because part-time agents or newbies that want training are not drawn to RE/MAX. I don’t know. All I know is that RE/MAX agents fully believe that earning $100,000 per year EVERY year is not out of the ordinary in any way. It’s clearly common. You see it front and center at this event when it seems take forever for all the people earning $100k to walk across the stage and just get their award. No photo op or anything. Take, shake, walk. One after another after another.
So again – what a blessing it is to work in an industry where earning $100k per year is expected and $250k+ is well with reach of anyone who wants to put their nose to the grind stone. There just are not very many positions (even SALES positions) that have that type of income possibility on the table.
Scored the Listing
So the seller I met with earlier this week on the meet-n-greet – I did the full-blown Fearless Agent listing presentation and she signed up. Her house is dated but she’s realistic about the price the home will be selling because of that. So that’s good.
She also signed up at 7% with automatic $5,000 price reductions built into the listing contract every 14 days. The listing contract was for one year. That’s the Fearless Agent way. Love it.
So I’m extremely grateful for that. I needed a win. Now if I could only get my other cold-call sourced listing under contract…that would be GREAT.
Here’s the one thing you need to take away from this. Cold calling is a LONG TERM game. Here I am at day #51 and I JUST took my first listing since starting this new calling campaign way back on December 27th. Nearly 2 months later. That’s a LONG time to work without taking a listing.
I have friends cold calling too that have taken listings already this year while cold calling. But that didn’t happen for me. And you shouldn’t expect it will happen for you. You should expect to call for 50 days at LEAST and get ZERO listings until Day 51 and then you won’t be disappointed.
The lions share of all the listings that are going to be taken are going to happen at the tail end of the campaign. It all pays off in the end. As long as you don’t quit anyway. It very very different from Expired/FSBO calling which is a much more “now business” type of approach. Cold Calling also doesn’t have the wicked competition that those types of leads sources have though (as my own recent experience shows) it is not completely competition free.
Day #50 of 100 Days of Prospecting
So here we are at the half-way point of this 100 Days of Prospecting campaign. Here are a few things that are front and center on my mind now that I’m halfway through. Maybe you’re reading this a few years down the line and are doing this same type of thing and can compare to see if your experience matches mine.
- There’s too much to do – that’s how I feel anyway. There’s a lot of stuff to do that isn’t calling and a simple 4-hour time block of calls slices out half your day. I start calling and all of a sudden it’s noon and 5pm seems like it’s right around the corner and because there’s so much “other stuff” to do…I feel like I’ve not done anything for the entire day and wonder how I’ll even get “the essentials” done before 7pm.
- I have a chronic backlog of material to send out – we’re here at the end of February and there’s a truckload of people who never got initial stuff sent out in the mail. Truth-be-told these are people who asked for CMAs to be MAILED to them. Those just got put on the back burner unless they were HOT leads. Those who gave me an email address to email the report have faired better….but if I open the database there will be plenty of those who fell through the cracks too I’m sure.
- Follow Up Calls are Suffering – I can’t even explain what’s going on but making follow up calls is very very difficult for me. I don’t even know why. I think it has something to do with my schedule and my wife’s schedule and not knowing what days I can schedule appointments freely and stuff combined with the push to make more calls, and other general chaos of the day. I seem to have ideas to fix this problem but I don’t actually FIX the problem. I kinda feel like the REAL solution is to NOT do front-end cold calls but rather to farm those out and only do follow up calls. The whole “you can only be great at one thing” kind of idea.
Obviously, this doesn’t sound like the typical “rah rah build you up” type of stuff that coaches, trainers, and gurus spit out. You’d never see Tom Ferry putting this type of stuff out there.
I really don’t care.
I’m tired. I’m not exercising. I’m eating crap and thus I feel like crap. I’m calling and working and believe that my work will pay off in the end but I don’t feel particularly good right now. I’m going to keep doing what I’m doing regardless of how I feel though and in the ends we’ll let the results speak for themselves.
Again, maybe you’re calling. Maybe you’re on Day 50 and you’re feeling like you’re behind the 8 ball and are frustrated that you’ve not gotten more listing appointments than you have. Maybe today when you’re reading this you are feeling exactly the same way I was feeling 2/3 of the way through February 2016. The cool thing for you though is that if you’re reading this years down the line you can just skip to the more recent blog posts to see how it all turned out.
I don’t have that advantage. I have to keep pushing forward on faith.
Tonight is the RE/MAX of Southeast Michigan awards gala. There’s a guy there that brought in over a Million in GCI this year. Tons of people have gotten awards. I’m getting zero.
Now I don’t put a lot of stock in awards anyway but the simple fact that I’m not getting one when you only have to make $50k to qualify is saying something. And it’s not something good. My hope is that 2015 will be the last “bad year” that I’ll ever have. I work too dang hard and to dang consistently to not make good money. I don’t care if we have another “great recession” – doing what I do at the level I do it should never see another year south of six figures. It’s ridiculous.
In regards to that, I often get people calling me and asking for advice. Sometimes I wonder if that’s a good idea on their part. I have a plan and I’m executing on it but I’ve not “arrived” yet. Makes me wonder if I’m really the best person to get advice from. My guess is that if people called me this time next year it might make more sense because there will be some substance to back up all the words.
It all comes down to the commission checks.
You can “know” your doing the right stuff but until it translates into cashable checks that prove that you had what it takes to get large numbers of people to put their trust in you to get the job done and then you DID get the job done…that’s the measuring stick that we measure by. Nothing else. Which is why I’m looking forward to tomorrow’s listing appointment. We’ll see if I can get someone to put their trust in me again.
Day #49 of 100 Days of Prospecting
Today I did a test run on calling with Mojo from my new office. You have to budget a day to figure out the quirks that are going to be unique to any calling environment. This was no different.
What I leaned was that the WIFI at my office is pretty bad. While running just one dialer the Mojo in-browser latency guage said that response time was pretty bad. Now this could be because of the computer set up in the office too. I don’t know. I don’t know how I’d test that without bringing my beast computer up there…which I don’t plant to do. My laptop is old and slow itself so it wouldn’t be able to provide perspective.
If it’s the WIFI then there’s little that can be done about that other than buy a new router I guess. Or ask them to run some CAT5 cable. Which I doubt they will. There is no drop ceiling and it’s a historical building so drilling holes might be an issue.
I also discovered that the WIFI is not reliable enough to us m SKYPE number.
I got a new Galaxy S6 phone and in order to give my wife HER phone back to her while running two Mojos my solution was to buy a Skype inbound number, install the Skype app on my old Galaxy S3 phone, and then just use that for my voice connection for Mojo #2. That was working fine from home but again, it wasn’t working in the office. The solution to that will be to just use the office landline I guess. No biggie.
So I scored 50 contacts running one dialer this morning at the office and then another 50 at home in the evening running two. One lead.
Day #48 of 100 Days of Prospecting
Short calling session today. Just over 50 contacts in. Again, the broker changeover is taking time. Family stuff is in there too.
I did go on a Meet-n-Greet appointment today. Hit it off with the seller and have a full-blown listing appointment set for Saturday afternoon. I feel very good about this one.
Day #47 of 100 Days of Prospecting
Went in to the office today early for a meeting and then went and previewed seven homes in my new market area. That took longer than I thought it would. Picked up the kids from school, zipped back home, and jammed on the dialer.
Got one lead today. Lady wants to downsize and stay in same area. I got her to commit to a Meet-n-Greet appointment for tomorrow at 4pm. So that’s good.
On the flip side, one of my leads that I’ve been following up with finally picked up the phone when I called only to tell me that they already listed with another agent. Bummer.
Oh well. On to the next.