When Good Agents Hit A Wall

Written by Posted On Sunday, 19 June 2005 17:00

A Realty Times reader who has had only mild success from farming, mailing, and hiring a coach, wonders what further advice could help.

"I have a question.

I notice you've addressed new agents' obstacles and real estate. How about seasoned agents who have hit a roadblock in business? I don't understand why, but my business has never really taken off the way it should. I have had only mild success, and mostly with buyers.

I've spent lots of time farming mailing and even hired a coach. My background is in marketing and public relations, and still no real success.

I am at an age that I would be hard pressed to get into something else. The best I can hope for a is a decent part-time job until I get back on my feet. By the way, I have worked full time in the business and at my best only did 20 closed sides a year. This is my 6th year.

I would appreciate your thoughts. I have been trained and work for the same company since I have begun.

Thanks so much. By the way, I love the business and have a passion for it anyway!"

Signed, Discouraged

Realty Times responds:

Dear Discouraged:

It's easy to second-guess yourself and let disappoint creep into your psyche, when things aren't going as well as they could. However, that has to stop because it may be affecting your ability to connect with prospects.

For example, you say you love the business and have a passion for it, but you don't mention that fact until the end of your letter. That's the part that needs to come first, so let's talk about how to rekindle the passion and make it pay off for you.

Let's begin by evaluating everything in your letter, which is all we know about you, and see what we find.

  • You've had "mild success, mostly with buyers."

    Without knowing what your local market conditions are like, it's a good guess that you are in a market where others dominate as listing agents. One idea is to "shadow" one of these agents and see what they do to snag listings that you don't. Offer to sit open houses with them so they aren't alone and vulnerable and see what you can learn.

    Sometimes these agents have an edge that you simply don't have. They find a niche and build from there. If you don't have kids and are trying to sell single-family homes in a neighborhood known for the schools, you're going to have a tougher time getting prospects than an agent who serves on the local PTA and knows all the families.

    So the second solution is to find out where you fit in and build from there. It's foolish to try to be all things to all people. That's the fastest way to homogenize yourself to prospects. It's far better to develop a niche -- a neighborhood, a certain type of housing (historical, condos, beach homes) and build from there. Start with what you like, and your enthusiasm will grow and so will your contacts.

    You've already said you have the most success with buyers -- start there. So the third solution is finding ways to connect with buyers. Start throwing educational seminars for buyers. Learn about investing in real estate and start turning your own properties. Become an expert .

  • You've spent time "farming, mailing, and even hired a coach."

    See answer number one. You're working hard at it, but you're not distinguishing yourself. Find the reason why people should hire you. Is it because you know and love historical homes? If so, do you know the best preservational renovators in town? Do you know how to tell a buyer to buy, renovate and sell a historical home for serious profit? Do you know the history of your town, and architectural styles inside and out? Are you a member of the local preservationist society? Do you help your local charitable organizations with home tours? These are ways you can combine an interest (in historical homes) with charitable work, meeting more people, and becoming the expert.

    At this point, advertising may not be as effective as getting out to meet new people. But, be selfish about it. Join groups that interest you. Get out in the community.

  • You're "at an age that I would be hard pressed to get into something else."

    Don't worry about your age.

    The average Realtor is well over 50, but it's the attitude that counts. What matters is do people enjoy being around you? If they do, they don't care how old you are. If you find you aren't getting much feedback or interest from people, it could be your attitude and how you make them feel.

    Make an appointment with your Internist. You could be feeling tired, depressed, or unenergetic because of medical reasons that might be impacting your work. Find out. It's your health, so start there. Something is sapping your energy, so zap it.

    Look for other ways to help you regain your edge. They don't have to cost a lot of money -- just put a spring in your step. Do you need to cover that grey? Lose some weight? Need a style makeover? Start with free exercise. Grab your dog, walk to the park with a pocket full of your cards and meet people. Call your most stylish friend and invite her over to redo you and your closet. Have her show you new ways to wear your clothes and accessories to give a fresh look. You'll have fun.

  • You "have been trained and work for the same company" since you began.

    Talk to your broker-owner or manager and share the same thoughts with him/her. Ask for an evaluation. You are obviously ready to follow suggestions.

    Remember, don't look at your shortcomings as failings. Look at them as guideposts to direct you to the better path. For example, you may find you have a gift for working with investors, or property management, or some other aspect of real estate sales besides trying to be all things to all people.

    Re-evaluate your market. It could be that your market has changed, and your business needs to change with it. Ask people you have recently worked with for help. Are there services they need that you don't provide? What could you do differently to get their business?

    Look also at the unspoken needs of your market. Are a lot of investors buying, but having trouble renting their homes? That could become a niche for you -- helping them manage the properties they have already bought. Real estate doesn't have to be just about buying and selling.

Hopefully, some of these suggestions will work for you. Please keep in touch and best of luck to you.

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Blanche Evans

"Blanche Evans is a true rainmaker who brings prosperity to everything she touches.” Jan Tardy, Tardy & Associates

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