When I started in real estate in 1996, one of the things my mentor gave me was a dog eared book with a bald guy on the cover wearing a brown suit and pinky ring.
The book was entitled "List More, Sell More," and the author, Jerry Bresser, is a legend among real estate trainers. I did not judge the book by the cover; I read it and made the philosophy my mantra: if you want to make a high income in this business, you have to list more properties. The book is out of print; Bresser still sells it, and you can buy it used on Amazon for a lot of money. I own 2 copies.
"List More, Sell More" was written in 1983, so it did not take into account the possibility of other business models, such as exclusive buyer agencies. If you run an EBA, my thoughts don't apply. But if you work with sellers or want to, here's the deal: You'll make more sales, build a larger team, and build a bigger operation if you have a strong inventory of listings.The more listings you have, typically the more money you'll make. And as Barbara Todaro (Thanks, BTW, for inspiring me to finish the draft) recently pointed out, if you focus on listings, your time becomes more your own. Working with a buyer means your time in that moment is singular. Working with listings duplicates your time and replicates income.
I'm not knocking working with buyers; we need them. I still work with buyers, but I have never made it my primary focus. If you like working with buyers, great. Work with buyers. And if you want to take your operation to the next level, you'll get more buyers and make more sales if you increase your listing inventory. You can't really have a store if there is nothing on the shelves, and the firms with the most signs in the yards around here have the largest market share.
Imagine working with a buyer for 6 hours on a rainy Saturday. You get home tired and soggy. They found nothing worth buying, and you made nothing. You have hope, though, that you'll sell them something.
Now imagine working with a buyer for 6 hours on a rainy Saturday. You get home tired and soggy. They found nothing worth buying, and you made nothing. Or so you think- because on your fax are two offers on 2 different listings of yours. You now have more than hope! You have INCOME, 2 happy sellers, and lucrative work to do on converting the offers into closings.
OK, let's suppose there are no offers. You are still soggy. But believe me, there will be buyer inquiries on your listings! You work for buyers. But listings in many ways work for you. It is that simple. And you are protected for your commission, no matter what. Show me an agent with 15-20 listings, and I'll show you a person who is not leaving the business anytime soon because they can't make money.
It might be difficult at first, and getting over the initial hump is always the rub for an independent, but let me tell you- when a prospective seller tells you that they've seen your sign before, you have reached critical mass. And there is no exhilaration like building your own brand. There is also no greater feeling of momentum than planting YOUR sign in the yard of a referral from a happy seller whose home you listed successfully.
Feel free to contact me with any questions, and we have plenty of openings in my Expired Listing Mastermind group.
Happy Labor Day. I'll be working with a buyer later today, but all of my listings are working for me 24/7.