You might have entered real estate because you have been inspired by a top producer you know or see in your area. After a while you might feel kinda feel lost in your business and you wonder what it is that these top realtors do differently from you.
What do they know that you don't?
Looking up and wanting to copy what these successful real estate agents do are not bad at all. You just want to learn from them and follow their footsteps.
When you've worked with many real estate agents like I do, you will eventually start seeing patterns.
In today's blog post, I want to talk to you guys about how to immediately see those patterns, how to copy what's working in someone else's business and assimilate it into your own.
There are ways of figuring out what the top agents are doing, tricks, strategies, etc. You don't have to reinvent the wheel. You just assimilate these activities into your business and copy that pattern to where you actually get more business with less effort than trying to discover it on your own.
Backtrack, Research and Study about an Agent's Previous Sales and its Owners
Generally, top agents aren't going to spread themselves too thin. They're not going to focus on a million different things that don't work especially if they've been in the business for a long time.
They're probably will focus on doing three or four things work consistently and just generate business for them. That could be maybe they are participating in community events or sponsoring stuff at their kids' school, etc.
I always try to backtrack to learn what's working for them.
I look up real estate agents and look up their past sales, address, the address of their past sales and see who the owner was. Then I try googling the owner to check relevant information such as what they've done in the community or what their profession is.
What you're looking for are SIMILARITIES and this will lead you to think if you can build an AUDIENCE of your own that have these things in common and try to figure out what that agent is doing.
One way to look for those information is with Propertyshark.com. This is one of my favorite websites right now that can give you different information about any property. You can just type in an address of a property and you'll be able to see who the owner is.
This is how you can track and look up addresses of the registered owner of properties, see what they have in common, try and check if you can Google that name and find out relevant pieces of information.
They can be a high profile person, maybe they are active in the community...
That's a good way to work backwards and in order to organize those details you want to keep that in a spreadsheet containing all these different owners so it's easier for you to keep track and see what they have in common. How can you find them, how can you duplicate this agent that you are looking at and duplicate their success by assimilating the owners and what they have in common.
What if the property owner isn't a person's name?
Properties will sometimes be registered in a trust or sometimes in an LLC.
Why do people register their properties under an LLC?
That's mainly because they want to limit their liability. LLC stands for Limited Liability Company. What that means is that you're putting a property into a company structure and a company structure has different owners, different ownership types. You can be 50/50 owners, you can have 25% ownership on each of these LLC, whatever it is it's going to be one owner or multiple owners. So you can see that easily when you come across an LLC and property if you look up the owner.
What you can do is you can go to a site like Corporation Wiki. All you need to do is punch in the property address LLC or whatever the name of the LLC is and it will pull up information about who the owners are.
The Managing Member of the LLC is the target person you are looking for because that person has expressed that he or she wants to be the point of contact for this particular LLC.
Usually you can find their phone number or their email address easily. Find that target contact person and try to strike a conversation with them. Again, make sure to track all these information in a spreadsheet and be as detailed as possible.
Find out their similarities? Are they all doctors? Attorneys? What are their common interests?
Study these patterns well and assimilate it into your own business.
Now, all you just need to do is be patient. Research and study is the key. Always remember, doesn't matter who these real estate agents are. They can't be everywhere or anywhere at once right? Take that chance and advantage to capture those opportunities where they cannot. Opportunities won't just fall into your lap. You need to get up, work you butt off and find it to achieve greater success and financial reward.
I hope this helps you guys, this method may or may not work but what matters is you tried. Contact me at firstname.lastname@example.org if these tips work and if not, what do you think will?
I will see you guys in my next blog. Talk to you soon!
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