So this is more of question than a blog. Since I am a part time agent where do you think my time is best spend trying to get business? Calling

Asked by Ed Hodkinson, Levittown, NY Fri May 13, 2011

FSBO's,

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16
Shanan Sheph…, Agent, Austin, TX
Mon Aug 1, 2011
BEST ANSWER
Hello Ed! I spent my first year in Real Estate working a full time job too. I did it because I was reluctant to give up my salary for straight commission. I stayed really busy and after the first year I dove into it full time. I found that the best way to build my business was to take call duty on the weekends (nobody usually wanted to do this anyway), hosting open houses for fellow agents, and naturally just getting the word out to everyone I knew! It only takes a few sales to establish a strong referral base. My theory is simply to treat every client (regardless of budget) like they are my own family...I have had LOTS of referrals from previous buyers and sellers simply because they felt like I truly cared about their needs. I'm sure you will find similar outcomes as well! Best wishes to you for a wildly successful career in Real Estate.
0 votes
Doug Vogelsa…, Agent, Austin, TX
Fri May 13, 2011
Ed, I gotta tell you, getting the business is a full-time job. Prospecting probably takes 20-25% of all hours I spend working in this career. I have tried bunches of different ways from cold-calling to door-knocking to e-newsletters to mailers to networking groups.

Simply put, your efforts are best placed where you feel comfortable. It's not what you do, it's that you do it regularly and consistently. If you hate knocking on strangers' doors, it will not only show on your face, but you will learn to hate the job. If you feel better calling on FSBO's, it will show up with results. Good luck!

Doug Vogelsass
Agents For Change Real Estate
1 vote
Betina Forem…, Agent, Austin, TX
Thu Dec 8, 2011
Dear Ed,
I must agree, this business is a fulltime job and then some. Potential clients want answers now, not three days later on your day off from your "real job". Most successful Realtors work 7 days a week, maybe not 24 hours a day but it feels like it sometimes. your best bet is to focus on your sphere of influence. Those people already know and trust you and know how strong your work ethic is. Stick with what works for you. Good luck!
Betina
0 votes
Linda Lorenzo, Agent, McKinney, TX
Sat Jul 30, 2011
Ed,
You can work the FSBO market. Knock on their door and ask if you can preview their home so that you can
add it to your inventory of possible homes to show buyers, there is nothing wrong with that. You don't have to have a buyer, most FSBO's will be happy to have you look at their home. Give them some of your cards and tell them if they get an unrepresented buyer you would be happy to represent them. Keep checking back with them to see how their marketing is going, send them information of value. Also the expired market is a great resource to work as they already are familar with the process and ready to hire another agent as they are probably frustrated with their current agent. Good luck.
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Ron Thomas, Agent, Fresno, CA
Fri Jul 29, 2011
Some of the bigger firms use rookies to canvass FSBO's:
There's a reason why.
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Perry Hender…, Agent, Austin, TX
Fri Jul 29, 2011
Do as many video blogs you can possibly do. Focus on your "farm". Get your name out there....
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Betina Forem…, Agent, Austin, TX
Mon Jul 25, 2011
Another idea is to find a local full time agent that has listings. Ask them if you can do Open Houses for them. They may be grateful to have someone to help make the home available to potential buyers. Good luck!
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Gerard Carney, Agent, Spring Hill, FL
Mon Jul 25, 2011
Best time spent as a new and a part time agent is to ask other agents that are full time but have obligations after work hours that you are available to show homes and help with Open houses! Partner up with a team or another person, one that needs someone to cover certain hours of the day, say A mother who wants to keep after 5pm and weekends free!
0 votes
Gerard Carney, Agent, Spring Hill, FL
Mon Jul 25, 2011
Ed you can't call a FSBO to solicit their business, you can call if you have a buyer that says they are interested in the property, again there is no promise or agreement that the FSBO will pay you anything for the lead unles you have them sign an agreement when you bring the potential buyer! Federal Law does state though that as agents and Realtors we are not allowed to cold call aFSBO without a buyer in hand!
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Betina Forem…, Agent, Austin, TX
Mon Jul 25, 2011
Dear Ed,
I would spend a little money on a decent website. The main thing is to work your sphere of influence. Most of my business is referrals from: friends, family, and associates in other states and of course repeat business. Good luck getting started!
Cheers,
Betina

Betina Foreman- Realtor, C.N.E.
Austin Home Girls Realty
(512)771-6318
0 votes
Annette Law…, Agent, Palm Harbor, FL
Tue May 24, 2011
Ed,
Looks like you have been on Trulia for a while now. When I look at your Trulia profile, I can only call it 'profile-lite.' No brokerage or indication of how long you've been in the business, congrats on email and telephone #.
Morale: People need to know who you are, what you do and what makes you different. Don't be a secret agent.

Getting business, a good and profound business question. It begins with you and the 5 Steps to Knowing You are actually in business.

1. Without using real estate jargon, no reference to the fees you pay to play in the game, no reliance or rules, process and such, explain the value you bring into a real estate transaction. Why do you deserve a piece of the homeonwers equity? Now, focus this response to deliver in an elevator speech. (Time it takes to ride elevator to top floor) Run it by your non-realestate freinds and ask them if they BELIEVE!
Morale: If you don't know your value as perceived by your buyer or seller, you are on a sinking ship.

2. Know it is a local business. Pick your area and pour over the stuff..total listings(sfh, th, condo) total sold, LP/SP discount, what communities have retained value, increased value, getting clobbered, how many sfh, th, condos are shorts, reo and appear in the tax data base as delinquent.
Morale: preparation + opportuntiy = success

3. Put off your invisibility cloak and go where the people are! Farmer market, events, panera, Starbucks and if in a retirement area..McDonalds..Events, attractions, if there are lots of hearts beating...BE THERE! Opportunity bypasses those who are invisible
Morale: the business you get is the business you find.

4. Wear your name badge...It should read
Ed Hodkinson
"Ask me about the real estate market"
I open my conversation with, "Have you received your copy of "100 Days of Summer?"
Morale: Establish value that endures

5. Buy them a cup of coffee (much cheaper than most leads you buy from lead generating companies) and after they say thank you, follow with, "It was my pleasure. I know you'll do the same for me. This week I know you will meet two or three people looking to move here or need to sell their home and I am confident you will remember to call me so you can introduce us."
Morale: If you don't ask the answer is ALWAYS NO!

Being prepared is the secret ingredient. (See POP: Power of Preparation) Where you go depends on where you beleive the opportuntiy exists. Who needs your help? Would you only assist a drowning person if they were on the north side of the lake? No! You help where help is needed!
FSBO's need help. Make sure you know the help THEY want.
Homeowners need help. Make sure you address their four unspoken questions about you.
Apartment dwellers need help. Make sure you address their concerns with benefits, outcomes and solutions.
Some real estate agents need help, let them know you are available and will protect their interests.

Get out there and have a ball. It's a great time to be in real estate.
Annette Lawrence
ReMax Realtec Group
Palm Harbor, FL
Web Reference:  http://www.MyDunedin.com
0 votes
Torquil Cree…, Agent, Austin, TX
Thu May 19, 2011
Hi Ed--
This is a really tough business to be successful at part time, but Full or part time doesn't change how you get clients. Perhaps you should determine if you want to specialize as Buyer's Agent or Selling Agent. You can certainly do both, but specializing helps.

Get to know different areas of town--what each neighborhood has to offer. You can "farm" neighborhoods--post flyers about what you have to offer, helpful info for their neighborhood, etc... Get to know lenders and others in the business so you can get referrals and have a network of professionals to refer your clients to.

It really is a social, information driven business. learn as much as you can about EVERY aspect of Real Estate & get out & socialize, let your friends know what you are doing, etc...

Also work with a successful Real Estate office that has established website and can refer you clients.

I have had massive success with establishing relationships with new home builders and advertising their homes or neighborhoods. There are free services like postlets.com where you can create ads for free that go out to lots of other sites like FrontDoor. Just make sure you get permission to advertise properties that are NOT your listing. get it in writing!!

Best of Luck to you!
0 votes
, ,
Sun May 15, 2011
This is a very difficult business to try to do part time. I would first make sure you have good Social Media spots set up, and a decent, even if basic, website. I would blog a little each week to keep your blog current. Then, spend the time where you see fit - your own lifestyle will determine where you are most likely to find clients.
0 votes
Suzanne MacD…, Agent, Morristown, NJ
Sat May 14, 2011
I am not sure how rentals work in your area, especially single family and townhome rentals, but I will tell you how they work here in New Jersey and if this is an option for you I highly recommend it.

Here we ask tenants to pay the realtor's fee. The fee is negotiable. My fee is generally equal to one month's rent, though others charge 10% of the gross lease, a little more money but I find mine is easier to calculate and understand and I am happy with it. There is really no downside for the landlord, I let them continue to market for a tenant on their own, but most don't and even if they do, I tend to find the tenant about 75% of the time. So, it costs them potentially nothing but increases their marketing expotentially.

What is great about rentals is they are fast and easy. Most of mine rent in abut 30 days and there is no home inspection, no mortgage commitment, no appraisal and no survey. They provide a smaller but faster pay check for new agents and they are a real confidence booster. Once you get the script down, picking up rental listings here is like picking up loose change on the street.


Add to that, you will be building a sphere of influence that includes future buyers and sellers of homes. A lot of people are renting their homes rather than selling due to the slow market, but they will be selling within the next couple of years, and the tenants are also renting because they are afraid to buy in this market. They too will be buying within the next year or so.

In my opinion rentals are Win Win!
0 votes
Phillip Baird, Agent, Austin, TX
Fri May 13, 2011
I agree with Douglass. Do what you feel most comfortable. I call/email/facebook etc. my contact database, hold open houses and just talk real estate with everyone I meet. But the key is to stick with it and be consistent.
Hope this helps.
Phillip
0 votes
Voices Member, , Austin, TX
Fri May 13, 2011
Form your influence. i.e. - everyone you know or can talk to, all online efforts (forum participation), puttin' in work. Drive IRL traffic to your online presence, then connect/engage/share/reconnect, repeat. Always ask for referrals.

What area are you targeting?

Aaron Marcus
Realtor®
512.696.0490
Austin City Living
"Voted #1 Residential Real Estate Company 2010 by the Austin Business Journal"
0 votes
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