The number 1 question I receive is this, "Hey Amy, I'm just getting started in real estate, how do I land my first client?" Good news. I'm just the person to ask. I began my real estate career when I was 3 months pregnant with my 4th baby and I closed over $3.5M my first year...yes, I had a baby in there too and I haven't paid for a lead yet.
A feat few agents can claim.
So how do you land your first deal? It's simple. Go to Zillow, search for every For Sale By Owner property that is currently listed. Choose 15 of them in the area you'd like to work, then write down the address & familiarize yourself a bit with the neighborhood. What is the average days on market for that area? What does the house comp out at? Have those number in your head.
Now, here's where it gets hard. Remember, I said it was simple, not easy.
Go knock on the door & give them an offer they can't refuse. Offer to list for a flat rate of $3,000 or whatever is competitive in your market & tell them every bit of value you are going to bring to them. Professional cleaners, photos, open houses, etc. Make it so good, they can't tell you no...even though 80% of them will. Your goal is to convert 5 of those into listings. If you have to go back in 10 days to get to your 5, go back.
This is what I call your season of 'interning' in real estate. If you're just getting started and do not have any experience to bring to the table, you must be willing to intern for a season. Once you have 5 listings, your goal is to leverage those into your next 10. Post each listing to your social media profiles, hold an open house on every single one, meet buyers that are looking in the area and neighbors that are thinking about selling. These are your next deals, so offer each person you meet value, then serve them, no strings attached.
Your pipeline will begin to take shape and as such, you're now able to command a 3% commission because you have a track record to refer to. Use this formula anytime you hit a slump to get yourself back in the game. Imperfect action is always what makes things happen. You must behave yourself into success.
I've got a goal to help 100 moms reach $100k in real estate next year, do you want to be one of them? Sign up here to get weekly training to help you reach that goal.
Good luck! Be sure to come follow along in my adventures in real estate @amygregory on Instagram.
Hi, I'm Amy. When I'm not scouring the valley for the perfect new house, you can usually find me in the kitchen with a gaggle of kids. Chips, salsa and a Diet Coke are usually in hand.