If you have been an agent in Toronto for any length of time you recognize that the real estate market tends to slow down a bit in the summer months. We’ve all been working pretty hard so a quieter pace is always welcome. We cut back our weekly meetings and take a collective breath as we recharge our batteries, catch up on work, plan for the fall or simply enjoy the summer heat . Well, as they say, there’s no rest for the weary as we find ourselves as busy as ever. We are on our way to recording one of the best Julys in years.
Considering the great weather, we had a great turnout. I thought at this morning’s meeting we would take a few moments to take stock of what’s going on in the market.
The good news is that everyone is busy but the biggest complaint out there is that there is not enough product. I like conducting a quick poll to best guage what is going on. It was clear that the agents are working with way more Buyers than Sellers. At the end of the day this is not a terrible problem to have. But no product out there? This got me thinking. I’m in a room full of real estate agents who are hired by buyers to find them a home. Waiting for properties to show up on MLS is NOT finding a home! If someone has contracted me to find them a property where I could potentially make $20,000, I’m going to do everything in my power to do my job ….including spending a little money and throwing in a little elbow grease.
So where does one start? When I got my license in 1988 my manager told me to go out and door knock, cold call, drop flyers and cover other agent’s open houses. She told me that for one simple reason…..because it worked. Today, you can add contacting people by email, twitter, LinkedIn, Facebook or a host of other means. There is one difference though. When you were first starting in the business you were told to bang on doors to find listings.
Knock knock, “Hi, my name is Joe Smith from ABC Realty, I am your neighbourhood realtor. Do you want to sell your home?” Repeat.
Today your job is different. You are trying to find a home for your buyer.
Knock knock, ” Hi, my name is Joe Smith from ABC Realty. I have a fully qualified buyer looking to move into this neighbourhood. They recently missed out on a home similar to yours. Since they are currently renting they a pretty flexible on when they need to move. Are you considering a move in the next few months or do you know someone in the vicinity that is thinking about selling?”
Can you spot the difference? It’s HUGE. While the first example is about introducing yourself with the hope of getting a listing, the second is clearly a call to action. You HAVE an active and ready buyer. What could be easier? There is nothing scary about knocking on someone’s door when you have a real purpose.
I am reminded by the words of an old Realtor I know. “If the business doesn’t come to you…you go and find the business”. Looking for a house for your client? Do your job and find one the old-fashioned way.
If you like what you read please follow me on Twitter of Facebook. Thanks!
Last week I had a few freinds up to my farm in Prince Edward County. As I usually do, I started my Saturday morning with an early morning country run. When I got back, my buddy asked me how it went. I had to admit it was a tough one. In the early stages I just couldn’t get motivated. At about the 3rd kilometre I thought about turning around. That thought didn’t go away at kilometre 4 or 5 but then I thought, heck if I turn back now I’m already in for 10km so I might as well just keep going and do my 12kms. He said to me that pushing yourself like that is kind of like eating an elephant. I thought this was another great metaphor for running, business and life. My apologies to the vegetarians in the crowd.
Think about it for a moment. How does eating an elephant relate to being a great real estate agent. First of all, you can’t just start your career in real estate and expect to be a rock star right off the bat, neither can you expect to eat an elephant in one sitting. Just like our business, being successful means working up to it, accomplishing small tasks individually to get to the ultimate payoff. It’s clear that there are no quick fixes or easy paths to success. That comes only from hard work and determination. It is a very long process. I contemplated doing the math on how much people eat in a day compared to the weight of your average elephant, but I think you get the picture.
While we talk about the importance of social media to our business, it shouldn’t be the only thing we do. I think we all agree that it is a necessary part of our daily routine just like inspecting or showing houses, taking care of our accounting, connecting with clients, catching up on industry news or attending office meetings.
The point is that eating an elephant can be done as easily as being a great real estate agent. You just gotta pace yourself.
If you are reading this on my blog you probably see a Facebook like box to the right. Can you please “like” if you found this post helpful? thanks!