Real estate is a serious business if you want to make serious money at it: Farrell

John Farrell, EXIT Realty Homeward BoundFollowing is an excerpt from EXIT Realty’s free monthly agent training webinar.  This month’s session was entitled Slaying Goliath and was presented by John Farrell.  EXIT Realty agents can listen to the session in its entirety here.

“These are the nuts and bolts to success in the real estate industry", says Farrell.

1. Get up early in the morning.

2. Read, read, read, read.

“Real estate is a serious business if you want to make serious money at it.  People can spend $200,000 to go to college to learn so they can go out and get a $32,000/year job. It baffles me sometimes,” says Farrell.  “I went to Ithaca College.  They just announced it costs $48,180 per year to go there.  If I were 20 years old I would put $50,000 per year into real estate marketing and training.  Imagine if you did that for 4 years in a row – you could end up making way more than anybody that ever graduates from college and gets a regular job – $200,000 worth of marketing and 10,000 of hours of working will put you at the top of the game in almost any field.” 

3. Eat the frog first thing in the day.

“If you’ve got something in your life that’s bothering you get it out of the way – don’t delay – otherwise it hampers your attitude for the rest of the day.”

4. Ask buyers to tell you what they want.

“What a novel idea!”

5. Say, “Let’s go see the house right now!”

6. Follow the 7 C’s. – John’s no-interruption of chain of events.

1. Community – establish your community or sphere of influence

2. Contact them and maintain contact

3. Capture them – meet them face-to-face if they’re local or have a deep, meaningful conversation over the phone if they’re out of town

4. Qualify them (ok so it’s not a "c") – find out their nice-to-haves and have-to-haves

5. Convert them – this is the point where they love you and want to work with you exclusively

6. Get them under contract and care for them throughout the process

7. Closing – if everything went well you can keep them in your community and the process continues

7. Learn to tell stories

About John Farrell:  John is the owner of EXIT Realty Homeward Bound and has been in the real estate industry for more than 28 years. John is a multiple award winner including being a three-time recipient of EXIT Realty’s prestigious Tri-Real-A-Thon Award with over 1,200 sides closed. He was also honored as #10 in LORE Magazine for the Top 50 Agents by Transaction Sides. John currently resides in Vestal, NY with his wife Patti, three adult children and three grandchildren.

 

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