For Real Estate Sales Professionals

January 14, 2002 E-zine

Jim Gillespie's
January 14, 2002
Publisher: Jim Gillespie


Doing what has you become the best real estate
agent in your territory definitely beats all
of your other options.


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1. How to Discover Gold With Your Old Clients

2. Start Renewing Your Listings Now!

3. How to Make $1,000,000.00 in One Year

4. Yahoo! Update

1. How to Discover Gold With Your Old Clients

I'm sure you already know how valuable prospecting can be. If
you're doing a lot of prospecting you know what a great
opportunity it gives you to find leads that will lead to great
commission dollars for you in the near future. And if you're like
most agents you probably don't jump out of your chair immediately
at the thought of canvassing, either. Well, here's an idea for
you to make your canvassing a little more enjoyable and more
productive as well...

If you've been in the business for several years or more you
probably have already completed transactions with many, many
clients. What you may or may not recognize is that these clients
can be a great source of referrals for you at any moment in time
when you choose to follow-up with them. While a large percentage
of your past clients may not be looking to buy, sell, or lease
right now they know an abundance of people who are. So something
you may want to take the time to do is "cold call" your old
clients. You may have tens, hundreds, or thousands of old
clients depending on how long you've been selling real estate
for. And the purpose of your call to them can be threefold:

1. Finding-out if they're looking to buy, sell, or lease real
estate right now

2. Asking them if they know of anyone who is looking to buy,
sell, or lease real estate right now

3. Continuing to build upon your relationship with them so that
they think of calling you FIRST when they or any of their friends
or business associates are looking to buy, sell, or lease real
estate in the future

These "warm calls" can be some of the most productive prospecting
you'll ever do. When people have enjoyed working with you
successfully in the past they'll want to refer their friends and
business associates to you in the future. Sometimes, though, it
takes a call from you to remind them that they know people who
they can refer to you RIGHT NOW. And as I've discussed in past
issues of my E-zine, referrals from past clients can many times
be the best, most loyal prospects that you can work with.

So, how many old clients do you have that it may be time to call
right now? Just consider these calls to be highly-productive
prospecting calls and start calling these people who in all
probability would probably love to hear from you again!

2. Start Renewing Your Listings Now!

So you've had a listing now for several months and you've had
very little activity on it. And you know that the expiration date
for the listing is approaching, too. So what are you going to do?
Well, if you're like some agents you could just disappear, not
call the owners, and hope that they don't call you asking you
what's happening on their listing. But this is truly going down
the road that will almost guarantee that the owners will not
extend the listing with you when it is about to expire.

The real estate sales business is a very dynamic business and
each step along the way needs to be mastered. Being a master at
obtaining exclusive listings is a great skill to have but in
addition to this becoming a master at renewing your listings is a
skill that will greatly increase the amount of commission dollars
that you put in your pocket year-after-year.

When the market is hot you normally don't need to be concerned
with renewing your listings. If they're priced right they will
almost always move within the initial listing period. It's when
the market cools off a bit that honing your skills at extending
your listings becomes more important.

You work hard for each and every listing you obtain. Every
listing you have is the result of countless hours of prospecting,
building relationships, and beating-out your competitors when it
counts to convince the owners that you are the best choice they
can make in a real estate agent to list their property with. When
it comes to renewing your listings, this involves a different
approach to relationship building than what had you obtain the
listings in the first place.

Regardless of how much activity you have on a listing you must
stay in contact with the owners and keep them informed. If they
hear from you frequently about what's happening with their
property they will feel that you are actively working on their
listing for them. And if a property is not moving during the
listing period there are bona fide reasons for this. Tell your
owners what these reasons are along the way and send this
information to them in writing also. And tell them what your
recommendations are. Get feedback from prospects who have toured
the property and tell the owners what this feedback is. Get
feedback from other agents and tell the owners what they say.
Show the owners the most current comps--especially if you can get
comps for transactions that have been negotiated and signed in
the last 30 days. These truly are more reflective of where the
market is today than a comp where the property went into escrow
120 days ago and just closed last week.

The point is to become an expert at continuing to have your
owners feel that you are still the best choice they can make in a
real estate agent when it's time to renew your listing. And in
order to do this you need to stay in close relationship with
them, keep them informed, give them solid reasons why their
property isn't moving, and enroll them in reducing the listing
price whenever it's appropriate. If you don't learn how to become
an expert at this in your real estate business another agent will
ride in on a white horse when your listing is about to expire and
take the listing away from you.

And the truth is that almost any agent will appear to be a better
alternative than you for the owners if you've been out of
communication with them. Then that agent will probably make a
deal on the property in the near future at a price that you could
have easily moved the property for also.

We both know that owners usually get much more motivated the
longer their property is on the market. Your job is to convince
the owners that you are still the best choice that they can make
in a real estate agent while you continually utilize all of your
best marketing skills to move their property for them. Doing this
will ensure that you are still representing the owners when they
finally decide it's time to sell or lease their property at
whatever the best price is that someone will pay them NOW.

3. How to Make $1,000,000.00 in One Year

I have a coaching client of mine named Jeff who has been in the
real estate sales business for about 18 years now and who is
constantly one of the most successful, top-earning agents in his
territory. We've been working together for about six months and
he began working with me because of a strong recommendation from
another client of mine who is also a top-earning agent in Jeff's

Jeff is someone who is constantly reinventing himself and his
real estate business and is always doing new and creative things
to take his real estate production to the next level. He is truly
and completely driven to develop the ultimate system of real
estate brokerage and he is well on his way to doing this. He
embraces the new technology, ideas, and approaches that I
constantly teach him about amazingly fast also. And his results
in his real estate business show it...

In 2001 Jeff made $600,000.00. And last week during my coaching
call with him he told me all the amazingly huge transactions that
he is in the middle of right now. After he read me his list of
transactions he said, "Jim, it's only January and with what I
already have going on in my real estate business it looks like I
will easily make over $1,000,000.00 this year!" He then thanked
me for the work we've been doing together that he definitely
feels has greatly contributed to his remarkable success over the
past six months.

In taking this a step further there are only two ingredients that
you need to be one of the best agents in your territory:

1. Great people skills

2. A solid system of real estate brokerage that will produce
great, predictable results for you as long as you work the

What is extremely important in YOUR real estate business is that
you have a system of feedback in place that allows you to
evaluate the system of brokerage that you are currently working.
And the reason it is not a good idea for you to evaluate your
system completely on your own is because it is your own mind that
somehow decided that you should be working the system that you
have been up until now. What you really need is someone who is
already familiar with the systems that top-producing agents are
utilizing in their real estate businesses to evaluate your own
system along with you. It's kind of like the same reason why
doctors are not supposed to evaluate and treat their own symptoms
on their own. It's not an objective evaluation! Make sure you
talk with a top producer or someone who understands thoroughly
how the top producers are doing it day-in and day-out. If you
don't have someone you are checking-in with to make sure you are
constantly on-track or some other way of objectively evaluating
the day-to-day system you are currently working in your business,
you run the risk of becoming one of those agents who makes almost
the same amount of money every year and wonders why they can't

If you want to produce results that are similar to what Jeff is
doing you need to find a way to accurately and objectively
evaluate the system of real estate brokerage that you are
currently working. Otherwise you are doomed to continue to
produce the results that you've been producing in the past.

The only differences between you and the agent you aspire to be
like are your people skills and your system of real estate
brokerage. When you are committed to becoming the agent you've
always wanted to be find someone who will objectively evaluate
these two areas of your business and let this person guide you on
your way to becoming the top producer you've always wanted to be.

4. Yahoo! Update

Yahoo! has just announced a major change in their pricing policy.

Web sites submitted and approved to be listed on Yahoo! for the
first time will now be subject to a $299.00 annual listing fee.

If your Web site is currently listed on Yahoo! you will not be
asked to pay this annual fee.


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If you'd definitely like to find out how much you
will increase your real estate sales through my
one-on-one real estate coaching program, send me
an E-mail or give me a call at (310) 203-2222.

"In only 3 months I now have more business than I had
in the 6 months before I began working with Jim."

Craig Weisman


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of my E-zine to assist you in taking your real
estate sales career to the next level.


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Jim Gillespie
Advanced Real Estate Sales Coaching
41890 Enterprise Circle South
Suite 135
Temecula, CA 92590
(909) 694-6655 

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