For Real Estate Sales Professionals

September 2, 2003 E-zine

September 2, 2003




































Read by More Than 30,000 Agents

Always be determined to become the
best real estate agent in your territory!

In this Issue:

1. Where is This Real Estate Market Going?

2. How Are You Doing at Finding New Prospects?

1. Where is This Real Estate Market Going?

Everyone has their own opinion about where the real estate market is headed right now. Low interest rates have fueled such an unbelievable level of buying activity in recent years, and people are wondering what impact rising interest rates may have on the real estate market in general.

For sometime now I've been thinking myself that rising interest rates could put a major damper on our real estate market, but two new revelations have come my way that have recently changed my thinking about this.

The first revelation is the information I learned in a book I read by author and real estate expert Robert Campbell. In his book, "Timing the Real Estate Market" Campbell points out how there are five major indices of economic activity in any local real estate market that will tell you exactly where you are in that market's real estate cycle. And out of these five major indices, according to Campbell, interest rates are the least important of the five. According to Campbell's research, which is quite extensive, rising and falling interest rates tend more to accelerate or decelerate the speed at which the real estate market is moving in any given direction. The four other major economic indicices, when analyzed together, can and will predict with much more accuracy exactly where the real estate market is headed right now in your area.

If you're interested in reading more about this highly-acclaimed book by author Robert Campbell you can visit: 

In addition to the information contained in this book I've also been remembering the real estate market we experienced in the mid-to-late 1970s. During that time interest rates were rising to unprecedented high levels, while at the same time the value of real estate was rising quite dramatically also. So this shows that it's indeed possible to have rising real estate values when interest rates are also on the rise.

You can then add to this the fact that our current economy is probably poised to get even better very soon. It's just a matter of how quickly it will happen. Most experts seem to be in agreement that the worst of economic times are behind us and that better economic times are ahead. So even if interest rates are rising, we'll probably have an even stronger economy working to support the value of our real estate also. And when people are making more money and are doing better economically, they tend to become even more interested in owning real estate.

So while we can never predict with 100% certainty exactly what will happen in the real estate market, it's great to know that there's evidence out there indicating that the future may actually be rosier than what some people have been predicting.

2. How Are You Doing at Finding New Prospects?

How are you going about finding your new prospects right now? In terms of locating new prospects to work with in your real estate business--you either need to be proactive, or else you're left with whatever just happens to fall onto your lap. As a real estate agent this is the equivalent of being the captain of a boat a boat at sea with no engine, no sails, and no rudder. You're pretty much just left with what the current, the wind, and the elements happen to throw your way. And trust me, this is no fun place to be.

One of the big differences between these two scenarios, though, is that when you're a captain of a boat like this at sea, you're fully aware of your situation. But oftentimes real estate agents are not really aware of the fact that they're not doing what will have them develop great business for themselves. This is because they're often caught up in the fog of being busy, but they're busy doing unproductive activities. That's one of the dangers of looking and feeling busy a a real estate agent...if you're busy doing the wrong activities, you can simply wonder year-after-year why you're not making the amount of money you'd like to be making. And your solution to the problem can sometimes be to keep doing the same exact activities you've been doing, simply thinking that you haven't been working this game plan long enough for it to really pay off for you yet. (Hint: If you haven't been generating great new activity for 90 days or longer, you probably need to change what you're doing.)

Whatever you are currently doing to develop new business for yourself, you must make sure you're doing the activities that will successfully bring you solid clients and prospects to close new business with.

Here are some of the activities you can do that will bring you new business:

  • Prospecting on the telephone
  • Prospecting in person
  • Networking with people
  • Joining organizations
  • Asking for referrals
  • Mailing continually to the people you want to do business with
  • Sending an E-mail newsletter to your clients and prospects
  • Staying in relationship with your old clients
  • Hosting real estate educational events in your territory
  • Having a great real estate agent Web site
  • Utilizing E-mail autoresponder campaigns
  • Getting involved in your community
  • Getting publicity for yourself

If you're not doing activities like these you may be wasting a lot of your productive time and costing yourself a lot of money. And with the National "Do Not Call" registry and law about to take effect, your opportunities for prospecting on the telephone may soon be changing dramatically.

When you're working in your real estate business, make sure you're doing the activities that will successfully develop new business for you. The difference between you and the agent making the amount of money that you'd like to make has very little to do with the amount of hours you're currently working. Instead, it has everything to do with the activities you choose to do with the hours you work.

More real estate business is always available for you in your territory. Just look at all the transactions continually being closed by real estate agents that you're not involved in. When you're actively engaged in doing the things that will bring you new business, you'll direct much more of this business your way in the future instead of letting it go to your competitors.

Click here to visit my Web site. There you'll find many articles and previous editions of my E-zine to assist you in taking your real estate career to the next level.

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If you find yourself trying your hardest in your real estate career and still not making the amount of money you know you can, you may want to find out more about my one-on-one real estate coaching program. If this is something you may definitely be interested in, send me an E-mail or give me a call at (909) 694-6655.

"After 20 years in real estate I needed to revive my business and look at new options and ideas. Together Jim and I evaluated my entire business plan, designed new strategies, and implemented a game plan that's now making more money for both me and my team."

Bill Ukropina
CB Richard Ellis

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

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