How to fail at real estate

Posted Dec.05, 2008 by Joseph Bridges in Real Estate Internet Marketing

Can anyone describe a business where you can work only the weekends, not do any advertising, and make a great living? That is exactly what some people think about real estate. Many consumers, new real estate agents, and maybe even a few experienced real estate agents think that they can do an open house on either Saturday or Sunday for 1-2 hours and make a great living with absolutely no advertising and surviving off of referrals exclusively.

Depending on 1 source for leads

I guarantee the number 1 way to fail at real estate is to depend on only 1 system for your business. Referrals are great but what happens when people forget to refer, don’t feel like referring, or you don’t have any current clients to send you referrals. If you depend too heavily on one system for your leads if that one system has a problem your entire business will have a problem. This is not something you want to see happen.

Answer the following questions about your business:

So how many different sources of leads are you using now to generate leads?
How many of those sources are generating closed business?
Which one is generating the highest return on time and money spent?

The goal is to make sure you have enough leads and enough business to accomplish your goals. Optimally you have multiple systems generating business for you that close business for you each and every month.

Not Advertising

That’s right in tough economic times you want to advertise to genreate more leads and more business. You want to make sure that your marketing is generating a substantial return for you. In other words if you are spending $1 to make $1 you are better off saving the dollar. On the other hand if you can spend $1 and generate $5,$7, or $10 you want to spend those dollars to generate a return on your money.

The key is to know where to advertise, what to say in your advertising, and how to convert those leads. That is where you may need a little help with someone who has done it before.

Not Having a Marketing Message

Most real estate professionals do great with the people they already know but they have a hard time attracting new business. It is usually as a result of sounding exactly like everyone else. They have no compelling message that attracts the new customers to their services. They offer no guarantees, no offers, & no marketing message to get clients to want to use them.

This is one of the biggest mistakes that real estate agents make. It really isn’t their fault though because agents aren’t taught to offer a guarantee or have a marketing message.

Avoid Failure in Real Estate

So how do you avoid failure and succeed in real estate? Well you get advice from someone who has been there done that more times than can be counted. If you can get some time with that person for free that would be even better right?

Todd Bates, real estate and marketing coach, is coming to Long Beach and will be offering 2 hours of real estate training on generating 12 ways to get 3 new deals in the next 45 days. So how do you get access to this free training? All you have to do is register ahead of time by clicking the link below.