What are the best ways to market real estate?

realtor

One out of hundred buyers? That sounds really low.

Incidentally

I live in England, if I came to the USA for a vacation could I work for 14 days finding real estate listings for a broker. If I did this for him would he be allowed to pay me a share of the commission ,or a finders fee. I would be unlicensed.

I understand in the USA the gross commission is 6%, this is split 4 ways, could someone tell me what does the lister / finder normally receive. Could I take an Option to buy properties and sell the Option to a broker or investor. Top listers/ what do they need to produce in sales to get the honorary title King Pin.

Does anyone know any good RE books to read, I will do a Google Search for mock real estate exams to see whats required and what elementary groundwork I need.

A strange sort of question: Lets say I do this, what would be the best type of properties to concentrate on. I can't see much point in bringing in a number of D.-E. properties [low cost / blue collar homes] when AAa-AAb [qualty / professionals homes] sell quicker and pay out faster, or is this incorrect thinking. Do some agents refuse to touch low-cost properties, considering its beneath their dignity. We have that situation here [Bob]

AZBroker

In the USA you have to be licensed if you engage in the activities of a real estate agent in addition Brokers are prohibited from paying (commissions, referral fees, etc.) unlicensed agents for these licensed activities.

There are two sides to every real estate transaction. The Buyer's side and the Seller's side. It is not uncommon to see a 50/50 commission split. Using the example of 6% this means 3% would be paid to the Buyer's Broker and 3% would be paid to the Seller's Broker. How much the Broker pays each Agent per side varies and is usually outlined in an employment agreement.

I haven't heard of anyone getting the title of King Pen - in real estate. The term Top Producer is thrown around a lot and the volume required varies from location to location.

The best real estate book I've found is called "List More, Sell More" by Jerry Bresser. I think you would appreciate his style. There is a link to a free copy of this book on the forum - Jerry Bresser - List More Sell More

This is going to depend on your market but you've got the right idea... supply and demand.

Absolutely. A good example is mobile homes on land.

AZBroker

Bob I would be very interested in hearing your ideas on how you would go about getting listings.

Incidentally

Finding new Listings: My one word explanation is: HUSTLE.

This would be a new territory for me situation, my modus operandi would be to simply knock on doors and say to who ever answers something as simple and zany as this; "Is it TRUE you are thinking of putting this house on the market shortly, and your thinking of moving, and> [then stop on the word AND] just stare at him / her, as if you have forgotten what to say next, by my reckoning you've said enough, now its there turn to speak and the information wanted should come flowing out".

I knock on doors, walk in shops and speak to the staff, enter restaurants, speak to passersby, pull strangers up, talk to someone sat in his car, men or women sitting on a park bench, dive into groups of 3 /6 people, in short I'm a quizzer. A quizzer is an English word for someones who's trying to find an answer to a general question. The question is ARE YOU MOVING, OR THINKING OF SELLING, I learnt years ago no one ever said stick to doors. My father used to pull people up and ask did they know were John Henry Street was, they didn't because it did NOT EXIST. After one minute of useless conversation in which he appeared to be pleasant and lost, he would say;" Look do you want this carpet, I am sick to death of carrying it". I don't do this, its unethical, but I would bet you my father would find more LEADS AND LISTINGS, than lets say any three of your conventional staff and who use normal methods of contact and approaches. This is sales UK style, it might not suit less delicate people. Thank You for your well wriiten and appreciated responses. Thank You.

Incidentally

AZBROKER AND OF COURSE ALL OTHER FRIENDS ON THIS FORUM:

I took your advice and did a search for RE Information, I found another forum similar to this and with great respect to the posters who had written in; they appeared to me to be hobbyists. There was about 35-45 topics dealing solely with joining a lead referral system and many of these hobbyists had received zilch.

I found it amusing insofar as these partimers sales people intended selling another persons property for them, which is quite a serious undertaking in itself, yet they were unable to sell themselves in order to get leads, nor appeared to have the energy, or inclination to find their own leads. In short they were not willing to put themselves out in order to seek instructions. The impression I got was yes I will do it- when I've got time and "WHEN are you going to make me rich". The staff t/o must be incredible in USA Real Estate Offices. Today I passed sometime reading up on Goldman Sachs, the NY Bank, its should be required reading for all ambitious people. I also wrote down these slogans [old habits die hard] so may I share them with you all:
We did not come here to finish second.

Something well bought is half sold",

'Our client's interests always come first.

I used to have hand written exercise books full of this stuff, it kept me going - but did it do any good?

Thomas

Would you knock on everyone's door or just the for sale by owners?

Liberty

Why cold canvassing? Wouldn't telephone prospecting be a more efficient use of your time?

Incidentally

I would knock every door not sporting a current RE for sale sign.
I carry with me a simple call sheet on a clipboard, its in [MS word] printed blocks, squares and columns, at the top it shows the Zip code, the date, time, the street name, area, milege, expenses.
My knocking code is:
O X C/BK APPT ORDER [these mean]
out x-no Call / bk Appt/&time sign up

At the bottom I total up daily . Sample figures are:
O X C/BK APPT ORDERS [TOTAL CALLS]
91 43 8 5 7 154

A call back expressed some interest, but not a strong lead.
Appoinment this is someone who expressed STRONG interest.
So I ended the day with 7 orders, 5 good leads, and 8 poor leads.

TELEPHONE USAGE: The problem here is no matter what you say its going to be brief, sound as if you are selling something, and its so easy to say no thank you and terminate the call. With door to door you have facial, voice, eye contact, manner/isms, and unspoken / apparent APPEAL, your always someone to speak to, to exchange pleasantries, admittedly you need to pass the 5 second YES -HE'S ok test, but if you cannot do this you should not be in sales. Your not paying phone bills, hiring a TEL caller and can assess the quality of the person/s [prospects] and leads obtained yourself. Not only that if you are good, you can easily turn a 3*** lead into a 7******* lead. Admittedly you end up with about 50 leads per week, thats 50 leads involving call backs and sorting them out, this is your STRENGTH / or failure. Bob

Liberty

Bob it reads like you aren't targetting your prospects that you're calling on anyone and everyone. Am I reading that correct or do you use some way of filtering the leads?