As my loyal readers know (my, that sounds pretentious, doesn't it?), I recently re-entered the Wonderful World of Real Estate Sales, after two years away on a sabbatical WRITING about the Wonderful World of Real Estate Sales.
My re-entry into the biz was prompted by a number of factors, one of which was an unintentional challenge by Loreena Yeo back in September. In a nut, she asked if I thought the early success I enjoyed in my real estate career, back in the mid-90's, was due more to the strength of the market, rather than the strength of my business strategy (specifically my 100% SOI model).
So, many have asked how it's going for me, now that I've been back in the trenches a few months.
FABULOUS.
Frankly, I'm stunned at the warm welcome I've received from my sphere of influence, many of whom I haven't spoken with in years. More than once, more than twice, more than three times since my return, I've been told by past clients that they were thrilled to hear I was back in business. They said that in my absence they hadn't met another real estate-type who knew her stuff as well as I did and who gave the impression of actually caring about her clients. HUGE SMILE.
But enough back-patting from me. Sure, compliments are nice, but how's BUSINESS?
FABULOUS.
I have two buyers under contract, three sellable listings coming on soon and four more buyers in my car. All but one are SOI (and that one came from Active Rain!). I'm not crazy busy, but considering my license has only been active for less than two months, I'm quite pleased.
So... does an SOI strategy work in this market? Oh yeah.
Thanks for asking.
Welcome back to sales Jennifer. I've never left it and really think it helps my teaching because I do what my students do everyday...so I can relate to their challenges and issues.
I'm glad your re-entry is going so well. All the more powerful your message will be.
Jennifer,
I started selling real estate when interest rates topped 18% and it was still easier back then than now. Due to the lack of available data, the consumer was forced to rely on the agent to find properties, secure financing etc. Now, you have to have a hook to keep them loyal.
All of our recently developed "time-saving" tools consume about 6 hours of every day, including Saturday and Sunday. So, at the end of the year, when you actually can reconcile income minus expenses, I think that less that 10% of all agents NET more than $50K per year.
So keep us posted, I am curious to see how you think the actual work has changed!
I think that if we keep treating others with respect and are truthful we will be rewarded regardless of the market. You do have to know when to say no but if you have to say no say it with a smile. Offer a way to move forward with a buyer or seller in the future when situations change.
Glad you are testing your theories. i am sure they will work.
You really hit the ground running! Congrats on a great beginning the second time around.
Congrats on such a successful re-entry! I'm not a bit surprised, of course, at your success. SOI absolutely works! It's very motivating to hear about your new "excellent adventure."