Listings—The High-Leverage, Maximum-Earning Opportunity

a problem. Too many leads is a good thing. Now, you have choices you didn’t have before. When your lead-generation methods are consistently bringing you more business than you think you can currently manage, that is when you know it is time to hire help. Or you can “cherry pick” the best and refer the rest. Leads are foremost in the Three L’s of the Millionaire Real Estate Agent. You need to make sure you are not in the business of Lead Receiving and make sure you are always in the business of Lead Generating (and stay in it). Until you have enough leads to exceed your goals, there is no other issue. And, if you’re willing to be a Millionaire Real Estate Agent, you can never have too many.

LISTINGS—THE HIGH-LEVERAGE, MAXIMUM-EARNING OPPORTUNITY

The second most important L is Listings. While leads are vital to your sales business, seller listings are criti-

LISTINGS

Receive

Net

Earn

cal to your ability to build it to its highest level with the lowest costs and highest net. Let’s explore a hypothetical situation. Pretend just for a moment that you are in a situation

Think

LEADS

where you have to choose between working with someone who wants to list their $200,000 home and someone else who

Figure 10

would like to buy it. Neither will be offended if you choose the other, so which do you choose? The listing opportunity or the buying opportunity? I would hope that 100 percent of you would choose the listing opportunity. Why? Let me count the reasons. . . . “Listings make the business, and signs are our best source of leads.” David and Judie Crockett Millionaire Real Estate Agents Concord, OH Sales volume—$53 million

The Many Virtues of Seller Listings

1. Seller listings mean marketing opportunities: a) You get to put your sign in the front yard (and maybe directional signage, as well). b) You get to market the listing through direct mail and e-mail, etc. c) You get to advertise the listing through newspapers, magazines, the MLS, your website, etc. 2. You have more control of your time. There is usually not the sense of do-it-right-now urgency with sellers that buyers often have; therefore, you should be able to control your scheduling a little more. 3. Seller listings maximize your per-hour compensation. It usually takes a lot less time to obtain and market a listing prior to its selling than it takes to show for and sell to a buyer. 4. Volume, volume, volume. In our experience a highly focused, highly leveraged real estate agent can work fifteen to twenty-five seller listings per month. And keep it up. The same agent would be hardpressed to work seven or eight buyers per month and continue to do so over a long period of time. 5. With seller listings you are on the frontend of pricing, which translates to an intimate knowledge of the market. 6. Properly marketed seller listings bring you more business. Because of the multiple marketing opportunities that are part of the listings process, we’ve found that on average, one well-marketed listing will generate one serious buyer who buys. So, if you focus on obtaining and marketing seller listings, you should be able to get all the buyers you need. It’s the real estate industry’s version of the “twofer.”

Figure 11

Conversely, buyers present many fewer (if any) marketing opportunities. Atbest, buyer clients get us into the field, ensure that we are actively surveying our market firsthand, and can generate referrals. At worst, an indecisive buyer can demand weeks, if not months, of your attention before buying or, worse, deciding to wait until next year. There is simply too much upside to the listings business not to focus on listings first.