This is something I felt was very important to discuss for all the real estate agents out there, especially for all the newer agents out there who may be concerned about working in a real estate market some markets begins to soften - enjoy. Add me on Instagram: GPStephan
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If anyone is qualified to talk about something like this, it’s me. When I started, I had EVERYTHING working against me. I started working as a real estate agent in mid 2008…literally right as the market had peaked and was falling in price. Couple that with the fact that I was 18, with no college degree, and zero experience in the business. However, what one person might see as a massive disadvantage, another might see as an opportunity. And the amazing part about this? Is that BOTH sides are right. The person who sees the disadvantages tends to focus on the disadvantages, and that’s what they end up getting. The person who focuses on opportunity, are most likely to get those opportunities simply because it becomes a self fulfilling property.
When I started, I was seeing a lot of agents LEAVING THE BUSINESS. Oddly enough, this was one of the main reasons I feel I did so well…as the market shifted, agents left…and I was just getting started. But the real reason I was able to build up a business that now does over $20,000,000 a year in sales volume was because of what I did in the beginning of my career, and now is something that you should triple down on…and that is LEASES.
I want to say that 90-95% of agents won’t do this. If they DO do this, they’re simply doing a favor to keep their client happy, when deep down they know they really don’t want to do it. But this is where I saw an opportunity and I excelled…it was getting really, really good at leasing, during a time when VERY few properties were selling. Tenants were EVERYWHERE, agents were leaving the business, no one wanted to work leases…and here I was, hungry to do ANYTHING I could, who basically had an all the lease clients I wanted.
Leases clients are very simple to get. Very few people want to work with them, very few people are GOOD at working with them, and they largely go ignored. Because the higher end price points were so competitive, I had to get “in” with these people somehow…so I mainly worked lease clients. I’d find them a place and keep in touch…they’d refer me some other business, I’d work with them and lease them a place.
Around 2012, about 4 years into my career doing this…and those lease clients began coming back to me to BUY. All of a sudden, that $1620 commission I earned early on was worth $35,000 4 years later. And then it happened again…more lease clients came to me to BUY. After all, I worked 24/7 for them, I kept in touch with them, I became a friend to them..of course they would use me to buy. This is what led to $125 million worth of sales…almost all came from leases.
So right now, for you…if the market goes down or goes through a down turn, NOW is not the time to get discouraged and quit…instead, this is what you’ve been waiting for, this is your opportunity to DOUBLE DOWN when most agents simply can’t stay in the business.
For business inquiries or paid one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at GrahamStephanBusiness @gmail.com
Suggested reading:
The Millionaire Real Estate Agent: http://goo.gl/TPTSVC
Your money or your life: https://goo.gl/fmlaJR
The Millionaire Real Estate Investor: https://goo.gl/sV9xtl
How to Win Friends and Influence People: https://goo.gl/1f3Meq
Think and grow rich: https://goo.gl/SSKlyu
Awaken the giant within: https://goo.gl/niIAEI
The Book on Rental Property Investing: https://goo.gl/qtJqFq
Favorite Credit Cards:
Chase Sapphire Reserve - https://goo.gl/sT68EC
American Express Platinum - https://goo.gl/C9n4e3