First Facebook Deal

J Philip Faranda December 18, 2009

When I graduated college in 1989 (ouch), I decided that I wanted to follow my older brother in sales. So, I interviewed insurance companies and financial planning firms, only to find that I was ill-suited to that industry. I was advised to make a list of my 100 closest friends and relatives and tell them I was in the insurance business. I wanted no part of that embarrassment; I went into sales for a publisher. After Catholic school from grade 2 to my BA, I’d still rather talk to nuns and principals than solicit friends and family. 

Nuns. Franciscan nuns. 

In Philadelphia. 

In 1996 I was convinced by a college roommate to get into real estate with him and his father. 

In Rochester. Where I knew nobody. Even if I did have the cajones to contact my sphere of influence , they were 300 miles away. I didn’t even know any of the nuns. 

Fast forward to 2009. I’ve been back home in Westchester since 2000, I have been on Active rain over a year and Facebook for at least 6 months. Facebook has been a virtual college and high school reunion for me, and it has enabled me, effortlessly, to reconnect with old friends, some of whom have real estate needs they have shared. 

The first closed yesterday. An old wrestling teammate from high school, whom I haven’t seen in person since 1989 and lives in Maryland, referred me to his younger brother. Michael and Stephanie are recently married and had been through at least 2 other agents. They made a couple of offers, but nothing panned out. Michael is not his older brother; he’s deliberate, cautious, and reserved. He also had suspicions about the agents whom he was dealing with, for good reasons. 

Given the nature of the referral, trust was not an issue. Plus, it helps that I know what I’m doing a little bit. We made an offer on a short sale several months ago, and it was not an easy process. But I did my job, we stayed in communication, they used the attorney I referred, and together, we got through to closing with a happy successful closing. 

There is a nuance to using social networking that is for another post; however, I have to say that the medium has more than potential, it gets results if done right. Return on investment: Pretty high! 

 

 

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