| Real Estate can be a very expensive business. | | | | myself and drop it off at their door. The |
| Most people looking to get into the business | | | | calling is free, and the packet of |
| don't realize how much money it takes to get | | | | information I have about my self is very |
| your business going. Getting licensed is not | | | | inexpensive. But believe me it works. For |
| cheap, letting people know you are in the | | | | sale by owners has been a challenge of mine |
| business is usually not cheap, and everyday | | | | throughout my career. I recently came up |
| marketing is not cheap. I didn't have much | | | | with the idea of creating home fliers for |
| money when I got into the business, and when | | | | them, in exchange for buyer leads, and the |
| my business was slow I didn't have much | | | | hope that they will work with me when they |
| money, so I found ways to market myself that | | | | purchase a home. My hope is that when they |
| didn't cost much. There is some truth that | | | | see my willingness to help them, they will be |
| it takes money to make money, but how much | | | | inclined to work with me if their home |
| money do you really need to spend? | | | | doesn't sell. The fliers are not very |
| | | | expensive to create; it's stopping at their |
| I am not going to say that you shouldn't | | | | door that is the hard part. |
| spend money in this business, but you really | | | | |
| should be smart with your money and make sure | | | | Getting known in the community does not mean |
| you know where it is going. When I got into | | | | you need to buy a Billboard, but it does mean |
| the business my company picked up the cost of | | | | that you should be active in the community. |
| my first 3 mailers to my sphere of influence. | | | | There are a number of volunteer opportunities |
| At the time I had about 300 people on my | | | | that will allow others to get to know you. |
| mailing list, and I was looking to get some | | | | Do you have any hobbies? If you like |
| business from them. Most companies however | | | | basketball, find a place where people play |
| don't pay for the first 3 mailings, but I | | | | pick-up games and make some new friends. I |
| believe it is important to let your sphere of | | | | have heard about scrap booking clubs in my |
| influence know that you are in the business. | | | | area, so there must be things in your area. |
| Before you start sending out mailers make | | | | |
| sure you have a plan and a theme to the | | | | Going door to door in a neighborhood is |
| mailers. You want people to remember you, so | | | | fairly inexpensive. The hard part is getting |
| sending out mailers on a consistent schedule | | | | out there and knowing what to say. Once you |
| is important. I send out mailers every | | | | are out there and have a script, it is a |
| month, and I believe that it is money well | | | | great source of business. Make sure that you |
| spent. | | | | leave them a business card, and ask for their |
| | | | name before you go. You will be surprised |
| Asking for referrals is the cheapest way to | | | | with the amount of business that is out |
| make money. After you send out a couple | | | | there. |
| mailers to your sphere of influence, make | | | | |
| sure that you call all of them. Who is the | | | | I believe that spending some money on a |
| next person you know who is going to be | | | | website is money well spent. However, I want |
| buying or selling real estate? I don't know | | | | to caution you on spending too much. If you |
| how many times I have asked that question, | | | | are going to spend $10,000 creating a website |
| but it really works. I just recently made it | | | | that no one is going to find, then you are |
| a goal to ask all my clients for business. | | | | wasting a lot of money. What is most |
| When I get a listing I let them know that not | | | | important is that your website can be found |
| only do I want to help you, but I want you to | | | | on the search engines. My first website was |
| be so happy that you refer your friends, | | | | created for free, and I spent $30 a month, |
| family and co-workers to me. By the way, who | | | | yet I still managed to make it to the first |
| is the next person you know who is going to | | | | page of Google for my keywords. Since then I |
| be buying or selling real estate? I also let | | | | spent some money on a better website, but |
| them know that when I call to give feedback, | | | | only after I knew that people would actually |
| I will be asking for referrals. The other | | | | visit it. |
| day I had a showing and gave them feedback | | | | |
| after it was done, and again asked for a | | | | I needed to spend money to get my name out |
| referral. I used to just ask for referrals | | | | there, but I also believe that there is |
| at the time of closing. Now they come to | | | | business out there that doesn't cost much. |
| expect me to ask for business and are more | | | | Asking for referrals is a great place to |
| prepared to give me a lead at closing. | | | | begin, working for sale by owners, and |
| | | | working expired listings is another |
| Working For sale by owners, and expireds is | | | | inexpensive way to get business. Becoming |
| another source of business that can be fairly | | | | well known in the community can pay |
| inexpensive. Every morning I check the MLS | | | | dividends, and going door to door in local |
| for homes that just expired off the market. | | | | neighborhoods is another good source of |
| I look up their numbers and call them. If | | | | business. Be careful with how much you spend |
| they have any interest in listing again, I | | | | creating a website. First get on the search |
| will bring a packet of information about | | | | engines, and then create a better website. |