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