For Real Estate Sales Professionals

August 2, 2004 E-zine

August 2, 2004
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Read by More Than 30,000 Agents

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

In this Issue:

1. Is it Time to Begin Contacting Your Past Clients?

2. Be Careful When Signing Your Broker/Agent Agreement

1. Is it Time to Begin Contacting Your Past Clients?

If you've been in our business for awhile now you probably have a good number of clients you've already closed transactions with. But one of the problems in our industry is the nature of our business doesn't normally require ongoing contact with our clients after we've closed transactions with them. Attorneys, CPAs, and insurance agents all have ongoing relationships with their clients throughout the year. But as a real estate agent, once you've closed a transaction with a client, it's easy to get out of relationship with the client unless you proactively do something to avoid this.

When you get out of relationship with your clients and haven't contacted them in sometime, you make it very easy for them to begin working with another agent whenever they're ready to buy, sell, or lease again in the future. And if it is your intention to build a solid base of loyal clients who will continue working with you throughout your career, getting out of relationship with your clients is the last thing you want to do.

In addition to mailing to your clients on a regular basis, you want to be contacting them on the telephone from time-to-time also. Business professionals who have clients normally contact them on the telephone at various times throughout the year, and you should be doing this also. And if it's been years since you've talked with some of these people and you're feeling guilty about it...don't worry. You'll feel a lot better once you've reconnected with these people once again, and they'll probably be very happy to talk with you, too.

When we begin our careers as real estate agents we often don't have any prospects we can immediately begin working with. Our lives often become this process of trying to find people we can show properties to in the hope of successfully closing transactions with them. The problem, though, is if we don't watch out, we can just continue repeating this cycle. And in the process of continually looking for new people to work with, we can completely ignore the people we've already worked with successfully.

If you know it's been awhile since you've contacted a good number of your past clients, I have a recommendation for you:

Take about 5-15 minutes and make a list of all of your clients you haven't spoken with for awhile. Then schedule some time to contact these people and get on the phone and call them. In the process you'll be reconnecting with old friends, you'll find out what their current needs are, and you'll be able to ask them for referrals, too.

As an agent you want your business to involve both closing transactions with new clients, and keeping your old clients loyal to you. When you stay in contact with your old clients and show them that you care, you maximize the probability that you'll be the agent they'll want to work with once again when the time comes for them to buy, sell, or lease another property.

Click here for downloadable E-books and live audio interviews with top-producing real estate agents. These interviews are with industry experts who show you exactly what they do to continually make hundreds of thousands to millions of dollars a year.

2. Be Careful When Signing Your Broker/Agent Agreement

Last week I received a phone call from a woman who is very distressed about the situation she's in. She changed brokerage companies about eight months ago, but found out after several months of working there that she had made a mistake. So she then went to work for another company that she's now very happy with.

The problem, though, is that the manager of her old office pointed out to her that the broker/agent agreement she signed with them required her to stay with that company for a minimum of two years. And right now she finds herself in a lawsuit with that company over the fact that she left the company before the two-year period had expired. Fortunately for the agent her new company is defending her in the lawsuit, and her new manager feels the other company is being unreasonable with her.

If you live in the United States, I guarantee that you know the name of both of the companies involved in this situation. The company that required the two-year agreement with the agent is a household name in real estate, and it's name is also known in many other countries in addition to the United States.

I'm bringing this to your attention so you now know that this type of clause may be included in any broker/agent agreement that you're asked to sign in the future. So make sure that you always read the fine print before signing!

It's understandable why brokerage companies would want to include this type of clause in their agreements, but if you're a solid agent the chances are that management might be willing to delete a clause like this from their standard broker/agent agreement if you insist on it. But you need to take care of this before you sign the agreement, not after!

If for some reason you change brokerage companies and find that the new company is not fulfilling their end of their agreement with you, the last thing you want to have in place is a clause that requires you to stay with that company for two years or more.

In recent years some of the top agents in our industry have been paid large sums of money to change brokerage companies. Some of the top commercial agents have been paid more than $1,000,000.00 just to change from one company to another. In situations like these, I can understand the new company requiring that the agent stay with them for a minimum period of time. But for everyone else, signing an agreement with a clause like this in it could be completely unnecessary.

So just as you carefully review the offers and contracts that your clients and prospects will be signing, it will probably serve you well to do the exact same with the next broker/agent agreement you'll be signing, too.

Click here if you'd like more information on my one-on-one coaching program to take your real estate productivity to the next level. One-on-one coaching is available for both real estate agents and company management.

 
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.

Your subscription to my real estate E-zine entitles you to receive FREE online training. My training course is designed to take you to the next level in your real estate sales career regardless of where you are currently at in your career right now. To receive my FREE 7-Day Online Real Estate Training Course send a blank e-mail to the following E-mail address:

RealEstate101@RealEstateSalesCoach.com

You will receive your first of seven lessons within minutes after sending your E-mail. You will then receive six additional lessons, one each day, for a total of seven lessons in seven days.


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 (951) 694-6655.

"Jim has me much more focused on doing the things that make me more money and he holds me accountable to make sure that I do them."

Greg Barsamian
CB Richard Ellis


If you arrange for me to lead a seminar or training for your real estate company you qualify for FREE coaching! Call me or email me for more information.


Please forward this E-zine to anyone you know who is interested in becoming a better, more productive real estate agent.

To subscribe to Jim Gillespie's 
ADVANCED REAL ESTATE SUPERSALES E-ZINE
 click here

and send a blank E-mail.

To unsubscribe and bring tears to my eyes follow the directions below.


Jim Gillespie
America's Premier Real Estate Coach®
Advanced Real Estate Sales Coaching

Click Here to Contact Me

Home   What I Do   Background   Articles   Testimonials
Agent Tools
   Free E-zine   Contact Me   Links