Conner Marketing's online newsletter for November 2017
NOTES with Jay Conner Success
NOVEMBER 2017
HOW TO FIND YOUR Investor-Friendly Realtor
I f you read this headline and thought, “I’m good! I already have an investor-friendly Realtor,” then you should keep in mind a lesson I learned from Dan Kennedy himself. The most dangerous number in any business is the number one. You always want to have more than one relationship with contractors, Realtors, real estate attorneys, etcetera. If you have just one contact, imagine how much trouble you’ll be in if you lose that relationship. Even if you are already working with an investor- friendly Realtor, I strongly encourage you to widen your network. Here are five tips for finding investor- friendly Realtors in your area. Contact your local real estate investing association (REIA). Start your hunt for investor-friendly Realtors at nationalreia.org/find-a- reia/, where you can find the REIA group closest to 1.
"Even if you are already working with an investor- friendly Realtor, I strongly encourage you to widen your network."
Jay and Carol Joy in Alaska
Once you have a list of referrals, call each Realtor and ask some questions. Remember, you aren’t calling to sell them on working with you. You’re giving each Realtor the opportunity to sell you on working with them. Think of it like a job interview and ask these questions: 4. • “How long have you been a real estate agent?” and “How long have you been a real estate agent in this area?” • “What areas or ZIP codes do you focus on?” This is important, as you want to work with a Realtor who works in your area, can give you all your comps, and give you their opinion on after-repair values. • “Do you work with investors?” It’s nice to start a relationship with a Realtor who already has experience with investors, but not having experience isn’t a deal breaker. For example, one of the first Realtors
you. Meetups have also become popular, and you can find a gathering by searching “real estate investors” at meetup.com. Once you find an organization, I encourage you to get involved. Become a volunteer and get connected to other people in the group. Then, talk to the organizer of your local REIA or meetup, as well as other members, and ask them for referrals for investor-friendly Realtors. Contact your local landlord association. Obviously, landlords are people who buy and hold real estate investments, but they will have a relationship with Realtors in your area. Ask landlords for referrals. Contact your local Realtor association. The Realtor association won’t give you a list ranking their biggest agents, but they can help you find Realtors who work in a particular niche. If you ask them which local Realtors work with a real estate investor, they can refer you to some. It’s also smart to ask about the top agents for listings, purchases, and sales, if the association will give you this information. 2. 3.
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Og Mandino and the Incredible Lessons of Simon Potter 'THE GREATEST MIRACLE I
At some point in their career, every businessperson and entrepreneur will pick up “The Greatest Salesman in the World” by Og Mandino. This book has inspired countless people to achieve their greatest successes. Today, I’m recommending another one of Mandino’s books, “The Greatest Miracle in the World,” written about one of the most influential men Mandino ever met, Simon Potter. When Mandino met the retired Simon on a snowy winter morning, it seemed like pure coincidence. As you read on and see Mandino and Simon form a strong bond, you might believe a greater force was at work. Simon shares an uncanny number of qualities with the main character of Mandino's book, including their jobs and their wives’ names. A self- described ragpicker, Simon spends his days finding people who have lost their purpose in life — the “living dead,” he calls them — and helping them find their path again. Through his advice on life, happiness, and the obstacles in the journey to success, Simon became a friend, father figure, and spiritual advisor to Mandino. What begins much like a “Tuesdays With Morrie” story takes an unexpected turn when Simon disappears completely from Mandino’s life.
At Simon’s apartment, Mandino finds a young mother and her children, who insist they have lived there for years, and no one has any recollection of the old man. All Mandino is left with is a package containing Simon’s final letter and a series of writings the two men discuss briefly. These writings, called “The God Memorandum,” are framed as if penned by God to you. Yes, you, the reader. Written for Simon’s “living dead,” people who have lost their purpose in life, this memo is a reminder that each person is special. We are all placed on this earth with a purpose, a mission we must fulfill. Yes, we will fail many times, but as long as we do not let self-doubt steer us off our path, we will find our purpose, in time. “The Greatest Miracle in the World” sets you on a winding narrative, which records the conversations of two men who explore the writings of history’s greatest philosophers. It is a valuable book for those dark times when we’ve forgotten how to believe in ourselves. As for what the “greatest miracle” is, exactly, I suggest you read the book yourself to find out. It is a short read, but I promise, it will stick with you for years to come.
The Importance of Following Up on Leads If you’re a business owner seeking to climb your way to the next level of success, there are three questions you must ask yourself. The answers will determine whether your company grows dramatically over the next few years or whether you’ll be sitting wondering why you have few prospects. of a salesperson giving up so easily should make you more than a little frustrated.
Moen Faucets conducts “Did you Buy?” surveys every month, collecting data on their customers and presenting it to their peers. From those surveys, they’ve discovered that, on average, only 15 percent of customers who request information from the company make a purchase inside the faucet category — not necessarily with Moen — within the first 90 days of requesting information.
Consider these questions as if they were a toll bridge standing between you and success.
First, how many prospects did your business generate last month?
Second, how many of these prospects did business with you, converting them from a prospect to a customer?
That means that 85 percent of the future value of all your leads is at least 90 days out.
Third, how many times did you contact the prospects who didn’t do business with you?
When it comes to nurturing leads, you need to follow up relentlessly. That doesn’t mean badgering your prospects, but it does mean following up regularly. Your first call shouldn’t be the be-all and end-all contact. Just because a lead isn’t ready to do business now doesn’t mean they won’t do business later. Instead, it should be an assessment call for sorting them into different timelines for future follow-up calls. There may be no exact way to predict when a customer will make the decision to move forward, but the more motivated they are to buy, the more frequent and personal the communication needs to be. Don’t throw away old leads as if they were spoiled fruit. Stay in contact and watch your business go to the next level.
This last question is the key. If you answered No. 3 with “only once or twice,” then allow me to let you in on a secret.
According to a study conducted by SiriusDecisions, the average salesperson makes only two attempts to contact a prospect. After that, they hang them out to dry. Like all CEOs, you lot on new leads. The thought
spend a
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Cover article continued ... THEWORLD'
I started working with 14 years ago, Chris, had never worked with an investor before. He was new to the area, but he was hungry, detail oriented, and very smart. We did great work together.
• “What is your process for working with investors?”
• “Do you own investment properties?” Again, this isn’t a deal breaker, but if they do own investment properties, you two will be able to speak the same language. • If they do own investment properties, I like to ask, “Why are you still a Realtor, and not just an investor?” These questions let me get to know their thought process about real estate. • “How do you find properties for investors?” I like to hear more than MLS listings, if possible. If they’re not able to get more listings, I want to know if they will refer me to properties that are for sale by owner and such. • “Are you willing to make low offers?” Most of my offers on bank- owned properties are 50 percent less than the after-repair values, and we get a share of those. You want a Realtor who is willing to make low offers, even if they sound ridiculous, when you are able to justify your numbers. Research an agent online. Everybody is looking up everybody on the internet these days. Find your agent online and read reviews past clients have left. Much like finding an investor-friendly real estate attorney, it’s not too challenging to find an investor-friendly Realtor. You just have to be willing to put in the leg work. If you found this information to be helpful and don’t want to wait until the next newsletter to keep learning, then you’re in luck! Every week, I hold a Free Coaching Friday livestream on my Facebook page. I answer questions and share strategies about real estate investing and private money every Friday at 3:30 p.m., EST. If you miss the livestream, the video remains on the page, along with many past videos. Learn more today by checking 5. • “How do you negotiate on behalf of your clients?”
1Thessalonians 5:11 Therefore encourage one another and build up one another, just as you also are doing. Proverbs 13:20 He who walks with wise men will be wise, But the companion of fools will suffer harm. John 15:13 Greater love has no one than this, that one lay down his life for his friends. Have You Heard the Good News … As It Relates to “Finding Friends”
out my video library at facebook.com/jay. conner.marketing/.
–Jay Conner
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INSIDE THIS ISSUE
Where Are All the Investor-Friendly Realtors? page 1 Book Review: ‘The Greatest Miracle in the World’ page 2 The Importance of Following Up
on Leads page 2 Don't Miss Jay's Cash Flow Conference page 4
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