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#463260 - 01/08/19 03:55 PM Re: How are expired listings still being prospected? [Re: Suburban Gal]
gitmonee Offline
Veteran Member

Registered: 10/24/13
Posts: 758
Loc: LA California
let's be honest S.Gal
Let's do some good old fashioned accounting here.

what exactly have you done so far?
You said you were gonna mail out postcards... how many batches have you mailed out?

How many people have you had a spoken conversation with in the last 4 months? need actually numbers here.

How many HOURS a day do you spend on your job actually doing real estate work?


Just provide YOUR numbers; no commentary or excuses.

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#463271 - 01/09/19 09:40 AM Re: How are expired listings still being prospected? [Re: gitmonee]
Suburban Gal Offline
Member

Registered: 06/22/17
Posts: 36
Loc: SE WI
Originally Posted By: gitmonee
what exactly have you done so far?
You said you were gonna mail out postcards... how many batches have you mailed out?


5 or 6, but I had to stop because of the cost.

Originally Posted By: gitmonee
How many people have you had a spoken conversation with in the last 4 months? need actually numbers here.


I talk to as many people as I possibly can, especially when they see the magnets on my car and bring up the fact I'm in real estate. All total, several dozen people since last June. I always give a business card and then get their information for follow-up.

The only thing I'm sure about is one of my prospective sellers plans on listing with me sometime this spring and another 3-4 years from now.

Originally Posted By: gitmonee
How many HOURS a day do you spend on your job actually doing real estate work?


I don't have much else to do so much of my day is spent prospecting and working on how to market and advertise myself, but not breaking the bank to do it.

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#463272 - 01/09/19 10:13 AM Re: How are expired listings still being prospected? [Re: Granta Omega]
Suburban Gal Offline
Member

Registered: 06/22/17
Posts: 36
Loc: SE WI
You have to understand, I went into this field unemployed. Prior to this I hadn't been working for 3 years.

I ended up leaving my job as a receptionist in an accounting firm so I could go back to college for 6 or so months and earn a paralegal certificate. The plan was to find entry-level work as a legal assistant or paralegal and make that my new career path. However, entry-level jobs are practically non-existent. They want experienced legal assistants and paralegals. After 2 years of struggling to get entry-level work as a legal assistant or paralegal, I gave up.

Mom and I started seeing signs in front of brokerages that read 'FREE REAL ESTATE CLASSES.' Mom suggested I give that a try. When I started my pre-licensing class, the broker who was teaching it said they really needed agents in SE WI and we were told that it should only take a week or 2 to pick up a job after we passed the exam and got licensed.

Like everyone else in the class (there were 12 other people that took it with me), I was totally unprepared where start-up costs were concerned. Half of the class couldn't continue on after they passed the exam because they didn't have the money or didn't have enough money. (I went into a lot of debt to make this work, a much of the start-up costs were charged on 2 different VISA credit cards Once I got sign-on as a new agent, I felt compelled to keep going because I didn't want to feel as if I had wasted all that time and money just to do this.) One of the students who couldn't continue felt deceived and confronted the broker who taught our pre-licensing class and asked why she didn't talk about start-up costs and better prepare everyone for the reality of getting started and how hard it would be. She told the student that it wasn't her place to talk about that. That it was her job to help everyone pass the exam, which she did. One of the students in my class who ended up getting hired and moving forward with the real estate agrees with the broker's response. I, however, do not. I think the broker had a moral and professional obligation to discuss start-up costs and the stark reality of what it was going to take to a person to really make it work once they became licensed. (By the way, the same student who agreed with the broker's response is now one no longer a real estate agent. She found a real paying job. She got so overwhelmed and stressed with it and was hemorrhaging more money than she anticipated. Like me, she also went into this after a long-term stretch of unemployment.)

The stark reality is if I can't make it to the closing table by the end of October, I'm not going to be able to continue because I won't have way to pay all the association and brokerage fees. And that's really going to suck because I just renewed my license for 2 years. It's good through the end of 2020. Thankfully, I'm not the only one from my pre-licensing class still struggling to make it to the closing table. Rob has 4 listings and hasn't seen the closing table yet and Alivia still hasn't signed any buyers or sellers. Many other new agents are lucky if they make it to the closing table 2 or 3 times their first year.

When I took my CE prior to renewing my license last year, even a lot of the older, more experienced real estate agents were complaining about how hard it is to acquire and sign clients, both buyers and sellers. The broker who taught the CE told them that they weren't the only ones having that problem right now and that younger, newer agents like myself were also facing the exact same problem. (Like that's supposed to make them feel better?)

That said, I'm doing the best I can to try and make it work because I really do want to do this and be successful with it.

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#463277 - 01/09/19 02:14 PM Re: How are expired listings still being prospected? [Re: Suburban Gal]
gitmonee Offline
Veteran Member

Registered: 10/24/13
Posts: 758
Loc: LA California
Originally Posted By: Suburban Gal


All total, several dozen people since last June.




Several dozen... as in like 36?

Every real estate coach agrees that you need to talk to more than just a several dozen people in 6 months, especially if most of them aren't even leads.

You're simply not hitting high enough numbers.


Quote:

I don't have much else to do so much of my day is spent prospecting and working on how to market and advertise myself, but not breaking the bank to do it.


What exactly are you doing for prospecting?

How many listings were in your MLS last year for all agents combined within a 20 mile radius ?

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#463734 - 03/06/19 08:41 AM Re: How are expired listings still being prospected? [Re: Suburban Gal]
Z06Fanatic Online   content
Member

Registered: 08/06/16
Posts: 470
Loc: US
Originally Posted By: Suburban Gal
You have to understand, I went into this field unemployed. Prior to this I hadn't been working for 3 years.

I ended up leaving my job as a receptionist in an accounting firm so I could go back to college for 6 or so months and earn a paralegal certificate. The plan was to find entry-level work as a legal assistant or paralegal and make that my new career path. However, entry-level jobs are practically non-existent. They want experienced legal assistants and paralegals. After 2 years of struggling to get entry-level work as a legal assistant or paralegal, I gave up.

Mom and I started seeing signs in front of brokerages that read 'FREE REAL ESTATE CLASSES.' Mom suggested I give that a try. When I started my pre-licensing class, the broker who was teaching it said they really needed agents in SE WI and we were told that it should only take a week or 2 to pick up a job after we passed the exam and got licensed.

Like everyone else in the class (there were 12 other people that took it with me), I was totally unprepared where start-up costs were concerned. Half of the class couldn't continue on after they passed the exam because they didn't have the money or didn't have enough money. (I went into a lot of debt to make this work, a much of the start-up costs were charged on 2 different VISA credit cards Once I got sign-on as a new agent, I felt compelled to keep going because I didn't want to feel as if I had wasted all that time and money just to do this.) One of the students who couldn't continue felt deceived and confronted the broker who taught our pre-licensing class and asked why she didn't talk about start-up costs and better prepare everyone for the reality of getting started and how hard it would be. She told the student that it wasn't her place to talk about that. That it was her job to help everyone pass the exam, which she did. One of the students in my class who ended up getting hired and moving forward with the real estate agrees with the broker's response. I, however, do not. I think the broker had a moral and professional obligation to discuss start-up costs and the stark reality of what it was going to take to a person to really make it work once they became licensed. (By the way, the same student who agreed with the broker's response is now one no longer a real estate agent. She found a real paying job. She got so overwhelmed and stressed with it and was hemorrhaging more money than she anticipated. Like me, she also went into this after a long-term stretch of unemployment.)

The stark reality is if I can't make it to the closing table by the end of October, I'm not going to be able to continue because I won't have way to pay all the association and brokerage fees. And that's really going to suck because I just renewed my license for 2 years. It's good through the end of 2020. Thankfully, I'm not the only one from my pre-licensing class still struggling to make it to the closing table. Rob has 4 listings and hasn't seen the closing table yet and Alivia still hasn't signed any buyers or sellers. Many other new agents are lucky if they make it to the closing table 2 or 3 times their first year.

When I took my CE prior to renewing my license last year, even a lot of the older, more experienced real estate agents were complaining about how hard it is to acquire and sign clients, both buyers and sellers. The broker who taught the CE told them that they weren't the only ones having that problem right now and that younger, newer agents like myself were also facing the exact same problem. (Like that's supposed to make them feel better?)

That said, I'm doing the best I can to try and make it work because I really do want to do this and be successful with it.


You're so lucky to have someone supporting you - be grateful you don't have to earn a living to survive. All you have to do to have big success is prospect on the phone a couple hours a day, 5 days a week - that's it. The problem for most is they have someone supporting them so they're not motivated to do "whatever it takes". For me I had no options - maybe you need that push to get it done.

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#464111 - 04/05/19 09:18 PM Re: How are expired listings still being prospected? [Re: gitmonee]
Suburban Gal Offline
Member

Registered: 06/22/17
Posts: 36
Loc: SE WI
Originally Posted By: gitmonee
What exactly are you doing for prospecting?


I do a lot of networking, especially with RelyLocal. I send anywhere from 1 to 4 hours a week networking. I also do booth/table events. I also try to leverage FB, especially where FB Groups is concerned.

Originally Posted By: gitmonee
How many listings were in your MLS last year for all agents combined within a 20 mile radius ?


I'd have to do some digging to get that information.

I can tell you that today, between Kenosha and Racine counties, there are 18 listings. 9 in each county. This has been the norm since the end of last summer/beginning of last fall. Prior to that we'd have 15-20 listings a day in each county.

Last month real estate agents sold 122 houses in Kenosha County and 158 in Racine County. This is pretty much how it's been for the past year or two. Maybe even the past 3 years.

Inventory where I am is extremely tight. In a tight inventory market, the competition for listings and sales is stiff.

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#464112 - 04/05/19 09:44 PM Re: How are expired listings still being prospected? [Re: Z06Fanatic]
Suburban Gal Offline
Member

Registered: 06/22/17
Posts: 36
Loc: SE WI
Originally Posted By: Z06Fanatic
You're so lucky to have someone supporting you - be grateful you don't have to earn a living to survive. The problem for most is they have someone supporting them so they're not motivated to do "whatever it takes".


Actually, it's been difficult just surviving on mom's income. She makes just under $60K a year, but money obviously only goes so far and now you throw a mortgage and HOA into the mix. (We didn't have any of that prior to moving to SE WI. When we were in NE IL, we lived in a single-family home we inherited from my grandpa.) Unlike IL, I'm ineligible for food stamps in WI. We rely heavily on the food pantries in WI, which have been quite generous. Whenever I go to the panties for food, I get enough boxes and bags of food to completely fill the back of my car. Between the 4 food pantries I go to, we get more than enough food to get by with very little grocery shopping.

I did find work as a receptionist not long after we moved to SE WI. I ended up taking a part-time job with ABRA Auto. The job paid well ($12.50 an hour), paid on a weekly basis and was supposed to morph into a full-time job. However, a month or so into it, they let me go and all I was told was that I wasn't fit or cut out for the automotive industry. It was a HUGE blow to me. I had felt really good about getting back to work as a receptionist after having been unemployed for such a long time. Unfortunately, I didn't work there long enough to qualify for unemployment and given I had been out of work for so long they had nothing to go off to give it to me.

Originally Posted By: Z06Fanatic
All you have to do to have big success is prospect on the phone a couple hours a day, 5 days a week - that's it. For me I had no options - maybe you need that push to get it done.


When I did my orientation last summer at my local board, we were explicitly told to check DNC prior to any cold calling so we were DNC compliant.

According to the NAR, in a real estate brokerage, real estate brokers can register and provide the account number to their agents. This will allow agents within the same brokerage the ability to access the registry under the same registration as the broker. However, brokers in my area seem unaware of this and don't have any account # to provide me when I ask for one.

In fact, the broker at the first brokerage I worked with said we're not telemarketers and don't need to be checking DNC prior to any cold calling. This is the complete opposite of what I was told at orientation and attorneys when I called the WRA Legal Hotline not once but twice.

Other agents have told me about Mojo, an auto dialer that scrubs #s so agents are DNC compliant when cold calling. One line is $99 and then you have to pay for your leads on a monthly basis. I can't afford that.

I've also been told to call FSBOs but to focus more on the expireds. I found out though that you can't call certain groups of people unless you have a past business relationship or connection with them. (Again, something else the attorneys told me when I contacted the WRA Legal Hotline twice regarding cold calling.)

Unless I can do cold calling while being DNC compliant in the process, I refuse to do it at all. I can't risk it. I have no way to pay any fine(s) if caught.


Edited by Suburban Gal (04/05/19 09:45 PM)

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