13/12/2011 • 10:08 0
Have you ever come across a broker asking you to share listings? I don’t know about you but I have. On countless occasions! Often times real estate brokers would ask what properties you have in that ‘List of Listings.’ And if you say you don’t have a list, they’ll frown at you and think you’re selfish. It’s as if you don’t want to share your food with them…
Early in my career I was told: ‘to succeed in this profession, you should have MANY LISTINGS!’ At first, it really does make sense. It’s like having a store and you should have an inventory of properties being sold. If not, your store would look sad and empty. So, that’s what I did early in my career. I took the advice of a seemingly successful broker and got up every morning to get listings.
Getting listings was fun for it’s very easy. Everyone knows that all you need is to have a property owner sign an authority to sell. That’s it. After a year of doing this, I began to question myself: Is Real Estate Brokerage this shallow? Is it really just about getting listings, putting it in an advertisement and hope that someone would see your ad? I thought to myself anyone can do this and in a marketer’s perspective I will not be able to differentiate myself if I do just what most people are doing. Especially if what you’re doing is really not that difficult (probably this is the reason why seller’s think our profession is easy and thus, more and more give only under 3%, I’ll talk about this more in my next post.)
During my first year as a real estate broker, I only closed three mediocre real estate transactions. Maybe because I put too much time gathering listings and totally forgot about the other aspects of real estate brokerage. A very important part of this profession is designing a marketing plan and sticking to it until successful. After my first year in Real Estate Brokerage I decided to never seek for listings but rather look for specific properties to market efficiently. I totally made a paradigm shift. I am no more a listing broker but a marketing broker (more about this on my future posts).
How was your first year in the real estate profession? Unlike me, did you succeed because you have numerous listings?
Real Estate Broker
PRC License #: 0007396
0905 311 0120 / 503 8070
Affiliation: Philippine Association of Real Estate Boards