My Pipeline Kept Me Alive and Thriving During The Lean Real Estate Market

From our friend in southern California comes this sage advice:

One of the very first lessons I learned (the hard way) is that regardless of how busy you are with current business, you HAVE to prospect and continue to put future business in your pipeline. Sales rooms are full of people chasing around after the current close or current transaction....having lunch with peers celebrating the latest sale, but then often these same people will be back in a month scared to death over the lack of activity then.

Prospecting is not always our favorite task. I get that! It's putting ourselves out there for rejection and that's not comfortable. The Internet has helped with this quite a lot, it's allowed us the opportunity to showcase ourselves and use the law of attraction to bring business to us, but nothing has eliminated the need to get in front of potential clients and sell ourselves. It's natural to want to wait for the phone to ring with someone ready, able and willing to act.

I started in Real Estate as professional in 2003. (up until that time I was very unprofessional....:)...just kidding, I had a license but only used it for my personal investments). 2003 was still a pretty healthy market in Southern California. I had few referrals and no pipeline, so I had to build from scratch. I have spent my life in sales, so I was not afraid of the work, but unsure about the activity which was appropriate for real estate.

I hosted garage sales.
I walked neighborhoods with dog treats.
I held open houses.
I shopped with my name tag on.
I took floor-time at the office.

I did everything anyone told me to start developing leads and then converting them into clients.

When the market turned, I didn't really notice at first. I was busy and I was closing transactions. Little-by-little I stopped going to office meetings because of the negativity. I knew from experience that there are "woe-is-me" ers in every sales force and I didn't want to be affected. But I kept doing the prospecting that was working for me.

During the lean years....I had over 1200 prospects in my system active or semi-active. As prices dropped, these buyers bought. I concentrated on the buyers who wanted to take advantage of the great interest rates and house values. As more and more seller found they had to act, I developed a short sale listing business as well. I already laid the groundwork for business.

My Pipeline Kept Me Alive and Thriving During The Lean Real Estate Market

Karen

Karen Fiddler
Broker/Associate
www.great-western-realty.com

Serving all of Orange County, California Real Estate!

--- Come for a visit; Stay for a lifetime!

Lottie Kendall, Realtor®

Compass

CA DRE#10215160; 650-465-4547

Lottie@LottieKendall.com

LottieKendall.com

KendallRealtyAssociates.com

PeninsulaLiving

 

 

 

 

Comment balloon 2 commentsLottie Kendall • June 19 2010 04:13PM

Comments

All good ideas. Networking is the key.

Posted by Ellen Dittman, #1 Stop for NE FLA-JAX/OP 904.535.1199 (TEXT OK) r (Watson Realty Corp.) over 10 years ago

Great Job,

I don't know where I'd be if it were not for the referral business my contact list has generated but you've given me additional ideas to work on.

Posted by Colin Moody (HCo Properties) over 10 years ago

Participate