Unlock the Potential of Real Estate Agent Sales Funnel for Life Sciences

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it's the black real estate dialogue tune in tune in this is the first week of my four week intensive Workshop that's teaching how to buy your first out of state investment property this week we went over how to find the right location if you're interested you can still join the workshop and replays are available for the sessions that you've missed next week we're going to go over how to find and build a team that you can trust so if you're tired of the expensive Market that you live in if you want to learn how to buy affordable investment properties go to out-of-statemoney.com forward slash workshop and I'll see you there so you mentioned a couple times just like making calls knocking on doors what's that conversation like is for a lot of people it might be nerve-wracking to you know cold call somebody or just you know this is the street I'm knocking on all these doors what's that conversation like with the potential well great question but before I answer that question you know for me thankfully I had a lot of experience dealing with people in the car business and selling luxury cars where I was comfortable with having conversation with strangers and that's hard for a lot of people to have conversation with strangers but then go to the next next level which you're knocking on someone's door right and not only are you knocking on someone's door they may or not may they may or may not even want you more than like they don't even want you at their front door right and then you're going to talk to them about something personal their finances being in foreclosure you gotta you gotta have some guts and you gotta have some stamina and some nerves to be able to approach someone in that manner but for me my mindset is you don't know that I'm here to help you in that level of value that I can provide to you and what I focused on was individuals that wanted help not the individuals that were upset or didn't want me at their door didn't want me calling I was always professional and I never had one bad experience with anyone however there were some people that were kind of like I'm not interested but I never had one bad experience because my energy my attitude and my Approach when I knocked on the door I said hey you know I'm aware of your situation I'm here to help if you aren't interested in having a conversation about it I totally respect and I left it up to them and they would say okay well what is it that you have what is it you want to share with me and I would go right into the value I'd had to share how I could help them avoid foreclosure or restructure their loan for a modification um I referenced my past experiences in this space and said if you like to have a conversation further about it we can and um that worked for me honestly it worked for me tremendously and I would say a lot of that just goes back to you know having experiences being in front of multiple strangers day in and day out and and really being forced to have those conversations because if you're not talking to people you ain't closing no deals and that was my Approach you got to be talking to people to close deals you got to be building relationships to close deals and you know taking action and being consistent with that especially when you have a family and you have people that you have to support you got to go get it you know you can't make excuses you got to say all right I might have this wall in front of me but how am I going to climb over it how am I going to go around it and break through it right that just has to be your mindset and that was my mindset and I'm I'm grateful the way that I was raised helped me to to succeed in this space that I'm in today and and in those situations that I was in When approaching homeowners you know out of the blue basically definitely definitely some what I'm thinking about is just the value of having sales skills it's funny like I I sometimes I talk to my wife I'm like you know I really wish I took a career in sales coming out of school yeah but I feel like in the black community a lot of times you know we're thinking about security we're thinking about you know let me get that 60 65 000 job out of school I'm gonna get paid every week yeah but I'm just seeing the value of having sales skills I mean you could think it could help in a multitude of way so what's your opinion on that because you worked in sales for some time prior to real estate yeah to me man sales is about asking the right questions you're never gonna Force someone or persuade someone to do something they're not ready to do you have to ask the right questions to get understanding on where those individuals are what their needs are what their expectations are and how you can help them and then advise and guide them through that process to get what they want that's literally what sales is about and genuinely being kind and respectful to people and I was in an environment where I got to see sales at a very high place at a high level and I got to see bad sales techniques and I got to see good sales techniques and what I did is I studied the aid the the actual advisors that had good sales techniques I listened to the things that they shared and what I just shared with you one particular salesman who was very successful at the dealership I was working and he told me never lied to a customer telling the truth helped them get what they want listen to what they say y'all what they're telling you that's important to them and then at that point go and service the need and I took that that you know that information and just started to apply it to what I was doing in real life and it was natural for me because I genuinely want to help people so the sales process man is really about asking the right questions and then helping those individuals get what they want definitely definitely so at a certain point you shifted to the luxury yeah higher end real estate when when was that shift and what what inspired you to want to take that step yeah with a shift you know I would say kind of took place around 2012. I closed the deal with that I double ended in La Jolla California so if you're not familiar with La Jolla California look it up it's one of the most wealthiest zip codes in San Diego California I closed the deal around 1.3 million I double ended it and I made like 80 87 or 85 000 and that was the most money I'd ever seen in my bank account um and that changed my perspective on business it changed my perspective on well if you can close this deal right in this community where people don't look like you people don't um oftentimes even engage with someone that looks like me to represent them to sell their home I was like how do you do this repeatedly right how do you figure out how to close these transactions so what I did is I focused on getting knowledge and experience in education and I took a designation called certified luxury home marketing specialist and that designation helped me understand how to communicate with luxury or affluent buyers and sellers what I needed to do to position myself in the market how to prepare my mindset to engage with these individuals and fortunately coming from a background of selling luxury cars I was prepared and I had the experience of dealing with an affluent buyer and even a seller because someone brings their car and trade it in you got to go back and forth with them on value et cetera so I had that experience and knowledge and then what really tipped it for me is I started looking at the amount of wealth that is in real estate primarily in your high-end sales you know if you sell a 535 let's say you sell a five million dollar house that's about a hundred and thirty thousand dollars you know that that type of money can change lives and so at that point again going back to my analogy with with short sales when I was selling in Texas you know I'm making three to five thousand versus three times the money I'm like well if I'm selling the traditional home here in California for say 700 000 which in Texas that I compare that's a lot of money two versus a 10 million or three million and five million man that's a big difference I'm still doing the same amount of work sometimes even less work on the higher inside because there's less hand-holding so it was an immediate um for me changing how I was thinking to say now you have to prepare yourself so I took the designation then I also transferred from Re Max to Pacific Sotheby's which was a very highly successful luxury firm in San Diego California that's really where I got my experience and my knowledge you know they offered various types of classes that I could educate myself in architecture because if you were insane if you're here in California period you see all of the homes have different architecture whereas back home in Texas it's just pretty much you know ranch style homes brick Etc pretty much they all look the same whereas here every home has its own personality and no two homes are alike so I put myself in an environment which is one of the probably top brokerages at the time with the top Brokers that are selling high-end real estate and I studied those men and women I watched their every moves from their marketing to how they communicated with their clients um and some of them I met with and picked their brains it was like going to college right it was like going to go get my masters which I have but it was like now I'm going to get my doctors right and so that was my experience and from that from that point once I got that experience I just got out in practice I went out and did what I needed to do to acquire clients from taking information that I was learning from being in those environments and then it led to me being where I am today definitely definitely when you said um I think you said you double ended it what is that what does that mean that means I closed both sides of the transaction I represented the buyer and the seller got you got you and then from a little bit a little while ago what's a short sale for those who may not know what it is so a short sale is a situation when a homeowner is basically in default meaning they can no longer pay their mortgage and their behind in the bank is basically giving them an option to say Hey you know you can either Schweitzer which means you can sell the property for less than what is owned and will forgive you for the the remaining balance or the difference that's owed and allow you to walk away from it now the downside is there is a blemish that goes on your credit but it's not like a foreclosure but it deal it still does impact your credit in an adverse way um however it allows individual to be no longer burdened by that distressed asset that's upside down so typically in the short sale the home has zero Equity you cannot sell it without coming to the table and writing a check whether that check is for five dollars or for five thousand or five hundred thousand yeah most property owners in those situations do not have the funds to be able to come to the table and write a check so therefore you're asking the bank to let you out of this situation and what most people don't know at the time in your mortgage Clause it allows you workout options loan modifications short sales and D to Lewis foreclosure those are your primary three options that you're going to find in your mortgage Clauses that allows you a way out if you will and so I studied that early on when short sales first came about nobody wanted to touch them nobody was interested agents were getting out of the business I was like this is my opportunity to thrive and get into the business so in essence that's what a short sale is what's up y'all Sam here from the black real estate dialogue podcast thank you so much for watching another episode so definitely take a moment to subscribe make sure you like this video also visit our website blackrealestadialot.com and follow on Instagram at black real estate dialogue talk to you soon