"2 and 1 Really Worked"

Real Estate Education Training:  (www.teer1broker.blogspot.com)

Two Listings and One Sale   


I was very fortunate to have been a part of the training team at a former Real Estate office and to have taught a Real Estate Finance class at a local Community College.  The training classes at each were helpful for pre and post licensing students.  The classes taught to prospective licensees were designed to assist them in passing the California exam and the Community College class also offered Continued Education (CE) credit.  This was back in the mid 1980's just a few years after receiving my Real Estate Agent License in 1983 and my Real Estate Brokers License in 1986.   The timing was good in several ways because I still remembered many of the areas covered on both the Real Estate Agent and Broker exams.  I made a special note of what I did to pass the California exam(s). I emphasized the importance of completing the test questions at the end of each chapter on a regular basis and not relaxing until AFTER taking the California exam.  My message was to retake each chapter test over and over until the results were over 90% of all answers on each chapter test being correct. 

The post exam training focused on Real Estate Practise techniques.  The training was usually geared to the philosophy of the Real Estate Franchise, as well as, sharing a few of my own "field" experiences.  New agents are very malleable and are like a sponge when absorbing information.  I too wanted as much information as I could secure from "tried and true" practitioners after becoming a Realtor.  Those Realtors with regular monthly listing and/or sales success were the ones that I wanted to observe.  I especially remember one newly licensed Realtor asking me how I responded to prospects that asked about Real Estate sales experience and references.   I told the class that I did remember the anxiety experienced when heading out to my first listing appointment.  The sellers did in fact want to know what experience I had in Real Estate sales and marketing.    They wanted to know if I had access to the Multiple Listing Service (MLS) and a host of other things.  I worked in an office with approximately 60 Realtors at the time so my response was that I had a large national franchise office behind me as well as a lot of other members of the MLS that would share in the commission if they brought us a buyer, etc.  My "Achilles Heel" was the experience and number of listings inquiry.  I did not have one single listing and had never closed a sale.  I looked successful with my nice suit, shined shoes and clean automobile in their driveway but I had not earned one dime in Real Estate.  I admitted that I did not have a track record.  I shared that I was a new and full time Realtor and would have my entire day to commit to marketing their listing.  I would not be distracted by a large inventory of buyers or sellers.  I made it clear that I needed to sell their home and that I would only get paid if I did so.  I shared my interest in doing Open Houses and other marketing tasks ( flyers, brochures, mailings, etc.).  They agreed to give me the listing. 

I wanted to succeed in my new "independent contractor" enterprise and was ready to put in the hours to be productive.  It paid off because my first full year as a Realtor was (1984) and I was "Top Salesman" for my office of approximately 60 Realtors.  My highest listings count for a single month in that office was 11 and my highest closed sales count was 9.   Every month was productive with multiple listings and sales.  I also made what was then called the Top Ten in my local Association (approximately 900 Realtors) in 1986.   I know that having a family to raise and care for was a great motivator.  I also believe that one can accomplish most tasks once they made up their minds to do whatever it takes to get the job done.  Real Estate is a small business venture and investment for those who choose this line of work.  Many of us come from more structured work environments where a paycheck is received on a regular basis.  Real Estate can be more like a "real job" if certain commitments are made.  One of the recommendations that an early Real Estate trainer made within a few weeks of my receiving my license and joining a very respected, then and now, franchise was to work for "2 Listings and 1 Sale" every month.  He mentioned that having listings is like having every licensed Realtor and MLS member working for you to help you earn your living in Real Estate.  We smiled when he said that "you can be on the beach in Hawaii and have someone back home putting money in your account by selling one of your listings".  He also made a point to say that if you had listings it would increase your chance of getting paid multiple times a week.  You would also have a combination of  inventory, open escrows and closed sales.  Further noting, that good work habits would often lead to months where more than 2 listings and 1 sale would occur.

I bought the idea and set a goal to earn at least 2 listings and 1 sale every month.  It was slow go at first even with hitting the 2 listings and 1 sale a month mark.  Listings must be promoted, buyers need to be shown affordable properties, etc.  After a few months the listings began to increase and I experienced my first closed transaction.  Median homes prices were approximately $65,000 so my share of the commission was around $800.  It was my personal "Powerball"!   My first commission was earned from an all cash sale of another Realtors listing and it closed in a few weeks.  I could finally go home with a smile and some money in hand.  My taking other agents floor time, doing Open Houses on my listings, showing homes with very little gas and other sacrifices had finally paid off!  The 2 listings and 1 sale began to increase to a large inventory and several well qualified buyers.  If I had to advise a new Realtor on a success model today, I would suggest knowing and actively using social media, become a member of the National Association of Realtors (NAR) Certified Residential Specialist (CRS), get involved in your community and work to secure a minimum of 2 Listings and 1 Sale every month.  It really works!

Michael Teer, Broker
Certified Residential Specialist (CRS)
Teer One Properties, Inc.
(951) 313-5168 Cell
www.miketeer.com
ProbateSoCal@gmail.com