Wonder if you have what it takes to make it in real estate? This one test will instantly predict your future.
A few months ago I had the privilege of talking to one of our best agents. His name is Barry. We were discussing his business plan for next year — yes, he has a business plan!
Because Barry is growing his business exactly the way I teach, I often brag about him to our readers. You might even recognize him from past case studies.
Barry is awesome.
The last time we talked, he told me something that made me absolutely fear for the state of our industry.
Whenever I brag about Barry in Magna Realty emails, that day he gets about a half-dozen phone calls. Our emails currently go out to 8,000+ agents, so he’s bound to hear from a few. These calls are from agents who Google him to find out if he’s real — and want to learn from him.
Of course he confirms that he’s a regular guy and tells them how he generates tons of leads using Magna Realty Tools and our lead strategy.
He also shares that his secret to lead conversion is following up with the lead as quickly as possible (often in under 10 minutes).
Here’s the part that blew me away and made me fear for the next generation of agents.
Barry told me that often, when the agent on the other end of the line hears that he makes over a thousand phone calls to new leads every year, flat out tell him that they can’t do that and immediately lose interest.
When he told me, I have to admit that I was dumbfounded. I literally didn’t know what to say.
All I’ve heard from agents for the last decade is how they don’t have enough business, and yet when you show some of them how to make more leads for free than they can possibly handle, they don’t want to pick up the phone and engage them?! Huh? I don’t even know what to say!
The Simple Test
So let me try this. To those of you who feel like you can’t make a thousand phone calls…
The way you are successful in real estate is the same way you eat an elephant — one bite at a time.
Come on, folks. Think about it: a thousand phone calls a year is not that many. Most of us work about 250 days a year so that translates into making about four phone calls to new customers per day. Is that really too much to ask to earn a six figure income?
I know of one very successful real estate coach who teaches his agents to make one hundred phone calls a day, and all of them cold calls.
Have we really gotten so lazy as agents that we can’t find the time to make four phone calls a day to earn $100,000? If you have, and I’m talking to you now, I’d like you seriously think about another line of work.
How to Make Prospecting Easier
Of course, it helps to know what to say when you are making prospecting calls.
Most agents know they need to focus on prospecting, but they have no clue what to say on the phone.
This leads to…
– Extreme call reluctance. “Ummm I think I’ll redesign my business card today. I’ll make calls tomorrow.”
– Scaring good leads away. “We talked once, now they always avoid me. Must be a bad lead.”
– Self-loathing. “Why can’t I seem to make any real money in real estate? There must be something wrong with me.”
Real estate is a great business, but you can bet that your competitors are working hard. Are you willing to work harder? If you are one of those who’s too “busy” (read: lazy) to make a few phone calls to new customers, you really need to rethink your career choice.
After all, this is a sales business. There is no easy money just for wearing your “REALTOR” pin and showing up at the office.
On the other hand, if you are one of my readers who isn’t afraid of a little work, you can do what Barry has done. In the last year he’s grown his practice and is now thinking about building a team. And he’s doing that by working hard, making tons of free leads, and actually picking up the phone and talking to them.
Call Reluctance is a Symptom, Not the Illness
If you have a bad case of call reluctance, don’t just give into it and start looking for another “email drip campaign”. Instead, figure out where the reluctance is coming from.
If it’s because you struggle to know what to say when you are making prospecting calls, you’re not alone. Even I work from a script. Click here if you’re interested in my exact what-to-say-and-how-to-say-it prospecting scripts.
But if you just straight up don’t want to make prospecting calls, I predict your future in real estate will be short.
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