What I’d do if I started over in real estate today…

A few of us here at Fast Newsletters were chilling after work, sharing our plans for the new year. Scott asked Jeremy (one of our agent contributors) what he’d do if he had to start over in real estate in a brand new town where he didn’t know anybody and only had $500 to spend. It was a ‘dope’ question, according to Jeremy. So dope, in fact, that I thought it would be fun to share it here on our Fast Newsletters blog…

It’s a great way to get started on your 2019 business plan. (Download our free 2019 real estate business planning tool here.)

Here’s the question:

“What would you do if you had to start over in real estate in a brand new town where you didn’t know anybody and only had $500 to spend?”

 

And here’s the main substance of Jeremy’s answer:

OK, so I’m new to the city and need to start my real estate business cold. I’m going to assume I already have my license and I’ve joined a real estate office. Now I’m looking ahead to at least 60 days of empty air before I have a closing.

I need to find a deal and close it fast, so I need to start with the low hanging fruit. But I also want to be doing something to fill the pipeline for the future.

Something for the Pipeline

To fill the pipeline, I have to think about what’s happening in the real estate market. It’s cooling off, right? Who are my best clients in a cooling market? I’m going to say sellers, because they can still get a whole lot of money for their house, compared to ten years ago. So that’s my pipeline target.

And in a cooling market, I might want to focus on how to get expired listings to list with me, since that will probably start to happen again now that the real estate market is flattening. [Check out Borino’s 2019 Expireds Bootcamp (not an affiliate link)…he’s been doing this for a long time and really knows his stuff. Tell him you heard about it on Fast Newsletters.]

I’ll also be making friends with new title, escrow, inspection, handyman, lender, etc resources. and I’ll be getting my listing packages together and practice using them. I have to be thinking like a listing agent.

Picking Low-Hanging Fruit

At the same time, I need to be harvesting low-hanging fruit, and that’s most likely going to be buyers. I can ask agents in the office if I can do open houses with their listings. Since I don’t have a lot of money, I can’t run ads. But I can do a lot of guerrilla marketing, like putting ads on the back of the listing flyers while I’m holding open houses. I can also run quick pop-up home buyer classes … anything to get in front of where buyers are at now.

I might also spend some of my $500 on Facebook ads, using the Chat-Bot Messenger system. That’s going to be a fast way to generate targeted leads, then I’ll have to spend some time converting them to real buyers. If you don’t know about using Messenger Bots, you have to know they’re the “next big thing.” Here are a couple of sources to give you a quick overview:

Client retention for the future: Assuming I’m in this for at least the next 5 years, I get my newsletter ready, too, because I want to be sending it straight away to all my new connections. I want to keep every connection I make, because if I have to move again, I want to have a sell-able asset. That would be my active, engaged real estate list.

Other Ideas

Jeremy’s ideas are great, and among the rest of us, we came up with at least 20 different approaches to “starting over” in real estate. What about you? As you launch into 2019, what would your “dropped in a new city” real estate plan look like?

DOWNLOAD OUR FREE 2019 BUSINESS PLANNING TOOL.

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About The Author

Linda Schneider

Linda Schneider, a real estate marketer, author, and former agent for 30 years. She thrives on helping agents make money using creative and affordable prospecting tools and real estate newsletters. Get her latest book, Door to Door Real Estate Prospecting on Amazon.com.

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