12 Stats About Realtors To Make You Look Smart Around The Water Cooler

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However, no matter where you're at the moment in your career as a real estate professional and whether you're just starting out or have been in the business for 20 years now is the time to plan the exit plan. How many people do know who are able to retire from real estate and ultimately sell their company for a significant sum of money? It's likely to be very few even if there are. What is the reason? A successful real estate professional must be able to market their client list and business , just like any other professional.

Anyone who has been in the industry for at least 3 years should have a database of clients that they have worked with. This is an asset that can be sold. But there's no guarantee that your clients are going to be willing to work with whoever it is that buys your company. The best thing you can likely do is to sell your clients' lists for only a small amount or someone will give you an amount of referral fees for anyone who chooses to engage in deal with them. That's not a good exit strategy.

What if, instead of having to give them a listing of every client that have ever been the case, you could also show them how you gained those clients? What if you were able to show you your "book of business"? What if you could tell them the amount you earned each year, and precisely how you earned it?

You now have something to offer. You would now have something more valuable than a 20percent referral fee.

Your book of business must include your list of clients along with your marketing strategies, products, the results you have gotten from the advertisements, and provide a roadmap for how your success will be duplicated. The most important thing to do when creating your business book is tracking everything you do.

One of the best methods of doing this is by using ad tracking technology such as a call capture hotline. This is among the benefits hidden in these systems, which are usually exclusively used for lead generation. With a call capture hotline that also includes ad tracking you can easily track all of the ads you have run as well as the responses that they brought. The system will track every phone caller who dials in take note of their name, address , and number, then follow them through your system, tell you what extension they were on (and thus the ad that brought them to the phone) and, at times, keep track of whether they left a message , or if they asked to speak with you.

This is a powerful tool. Now you have reports that show the number of leads that every successful advertisement generated, how many of those leads became clients, as well as the name and contact number for every person who responded to the ads. Combine that with the actual advertising materials you utilized and your list of clients now you've got something.

You've got your book of business. It is possible to duplicate it. This is a saleable asset. This is an exit strategy.

We operated the world's largest real estate wholesaling business in the world wholesaling properties to investors in around 280 US markets. The whole wholesaling procedure can be divided into six simple daily checklists to use. The checklists are listed below in order of importance and, similarly, the order in which you must work in each day.

In the beginning, you must be reminded daily of the direction that you're taking and the goal you hope to be able to achieve. Stephen Covey says, "begin with the end in mind," and so it is imperative to revisit our objectives, and empower ourselves with daily questions in the first place. Also, you should make affirmations. The process should take just between 5 and 10 minutes. it sets an example for the rest of the day . It's a crucial but often forgotten, initial step.

Another, and this is an important aspect and the most important one, you should make sure you're taking care of all your marketing. If you're selling real estate wholesale, you must focus on marketing in a few important areas: buying (or managing properties) and selling (and creating your buyer's lists) and hiring help.

For the promotion of buying homes, you'll be taking steps that get sellers calling for properties they've got for sale. Simple actions like using Craigslist effectively can bring about a steady flow of wholesale sales.

You could also count heavily on Craigslist when you're trying to market your properties that you control of , and to expand and improve your buyer's list. However, there are extremely efficient, low-cost direct mail methods of finding the most serious, active buyers that are buying deals just like the ones that you control and who are trying to make wholesale https://www.compass.com/listing/35935-mission-boulevard-fremont-ca-94536/891496254137314585/ deals too.

One of the easiest actions to implement to streamline your wholesaling company is to seek out help that costs you nothing up upfront and is paid after you have closed an offer. Just posting a couple of advertisements per week to search for research and bird dogs will provide you with a plethora of deals and investor buyers which put you in a in the position of sifting and sorting which sellers and investors you collaborate with.

The third and final daily checklist will be following up with your buyer inquiries through the entire buying cycle starting from the initial contact, through the research phase, through making offers and following up until you receiving your wholesaler's charge after you have transferred management of the premises to the buyer.

The fourth checklist for the day is making contact with potential buyers (both retail and investor). One of the biggest benefits to wholesaling is the capacity be reliant on the work you've accomplished in the past on your existing buyers list. In addition, increasing your list of buyers in number and strengthening your relationship with your buyers ' list are valuable daily activities.

The fifth daily checklist is the time to work with fellow dream team members. The focus is on working with your title firm, hard money lender, real estate agents, mortgage brokers and more. A well-functioning team can help even the weakest of leaders be successful , so make sure you build the most effective team you can, and let them be at their best. If the transaction is paying for the perfect team member, why not work with the best?

A sixth, and the final one is the checklist for business management that covers all the business management activities like accounting, institution maintenance and asset protection, and keeping important data safe.

By following these six proven to be successful checklists over time will result in you growing your real estate wholesaling company.