Day #60 – Day #65 of 100 Days of Prospecting
So right now there’s not really a lot to talk about. Not a lot to share. Since I posted last I’ve done 6 days of calling but 3 of those have been super-short days where I only made follow up phone calls.
I’ve had a lot of rejection of late, which has me down a bit I think. Tons of leads just completely changing their plans when I call them back and shelving moving completely. Had one appointment set which, when I called to confirm the time, said that they changed their mind and decided to go with a different agent. Another appointment has put things off again and again because of schedule and I’ve got the feeling that that one has died on the vine too.
So not a lot of good news for me right now where getting business actually signed up is concerned.
Also, tomorrow is going to be April 1st. And I just wrapped up Day #65. That means that even if I called every single day in April I would only be able to get to Day #95 on May 1st. Bottom line? I’m not going to have reached the goal of calling 100 days until sometime in May. Which is a bit frustrating.
Change of Flow
I’ve decided that I’m going to just do these types of “burst posts” like this one here where I cover a number of days all in one go. There’s really not a lot to share on any given day of calling anyway. It’s really just work. Simple, mindless work in fact. I can’t imagine that if you were sitting in a secruity camera room at some Kohl’s department store watching security cameras all day that there would be very much to write about on a daily basis either.
So from now on it’s going to be burst posts of 3 or more days all bundled into one.
Day #56 – Day #59 of 100 Days of Prospecting
Again, no consistency here. Which is frustrating to a degree. Last week I did a big push and went through a lot of my leads that needed CMAs done up and sent out and did that. It took forever. Way WAY longer than I would have ever thought possible. Even with CloudCMA
This was a major logjam for me. I couldn’t really call people back to follow up with them if I had told them I was going to send them a report on what homes in their area had sold…and had not yet sent it. So essentially my follow up calls were all in limbo. It took a good amount of effort to get that fixed.
Now I have 35+ follow up calls that can be made. I called some of them today and got on the phone this morning and did a dialing session. Didn’t get to 100 contacts though.
On the Bright Side
My listing that went under contract passed inspection and the appraisal happened late last week. My new listing has over 40 showings on it in just over a week on the market and today we got an offer. The reason why it took so long to get the offer is that it’s a 1978 house with all original kitchen and bathrooms. The basement was messy too. The people looking consistently provided feedback that they wanted something that is move-in ready.
Day #55 of 100 Days of Prospecting
So if you’re following along, you’ve noticed that I dropped off the radar for about 10 days. During that time I’ve not been calling either. That doesn’t really square with the whole “100 days of calling” thing, now does it?
The reason for my absence is that I’ve been working on a face-to-face networking program. This past month I went on two listing appointments that came about simply because people who are at my church know me. Classic “come list me calls”. It was really REALLY nice to get those.
They are the polar opposite of the cold call leads have to be followed up by ME again and again in order to get the listing appointment. Very rarely do they just give me a ring when they are ready. It does happen, but not enough. I realized that if I want to get more “come list me” calls then I need to have at least some form of purposeful networking program up and running. So I’ve been working on that for a week. Maybe I’ll touch on it later.
In the meant time I did call yesterday. Pickup rate was terrible and I’m only calling on one line because I need to be able to multi-task and “do other stuff” while dialing and I really can’t do that when I’m running two dialers. I’m probably going to shut the second dialer down today and not bother to power it back up until my networking program is off the ground and I don’t have to do stuff while calling in order to get it launched.
Finally, I actually DID get a “come list me” call from one of my cold call leads today. So like I said earlier, it does happen…it just doesn’t seem to happen very often.
Day #52-54 of 100 Days of Prospecting
So let’s just put it out there. I’ve been crazy busy. Calls numbers have not been as high as I’d like. There’s a lot going on. Here’s the last 3 days worth of calling stats.
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.