Concentrating solely on deals could be the wrong approach if you’re looking for longevity in the real estate industry.
Counting your deals and focusing on how to move to the next level is the wrong approach if you’re aiming for longevity in the real estate industry, according to Jason Pantzer of Phillips Pantzer Donnelley.
“Rather than focus on doing 30 deals [and] how [you are] going to get to 50 deals, I think if you focus on a few of those things that enable you to generate more business, the numbers will just stack up,” Mr Pantzer told REB.
He said agents should concentrate on the smaller day-to-day tasks that may not provide immediate returns, but generate business over the long term.
“It’s the phone calls, it’s the mail-outs, it’s the following up prospecting sellers, it’s the letting buyers and sellers know once a property has sold, it’s all these little things that get done on a daily basis,” Mr Pantzer said.
The trick to building success is that it gets easier the longer you work, but you have to put the groundwork in early.
“It just snowballs along, so it’s easy to get from 30 deals to 50 deals, but it’s a whole lot easier to get from 50 deals to 100 deals because the more deals you do, the more people you’re meeting,” Mr Pantzer said.
“Every deal that you do you’ll meet 50-100 people ... then once you sell a property, they’ll go to a dinner party and they’ll tell 10-20 people about you.”
Consistency is key and you have to build your foundations before you can expect the business to roll in.
“There’s an engine room and a theory behind everything that we do, and for each and every listing that comes in there’s a checklist that we go through ... it’s the same for each and every sale and it’s a very simple formula. I’ve been doing it for 14 years now, and I’ve done it from day one when I got in there.”