When I started my career as a brand new agent, I had ZERO clients and ZERO prospects.
But I didn’t just sit around waiting for the phone to ring. My previous business experience taught me that if I wanted success, I first needed excellent systems and procedures. So I worked on those.
I also took time to have some fun by previewing properties every day.
After a while, I developed a system where I kept track of every property I saw, noted its strengths and weaknesses, and guessed the future sale price. I was way off at first, of course, but the more I did this and the more I improved my system, the more accurate I became.
Aside from becoming the Area Expert, I learned many other skills, including becoming a Pricing Expert. It’s surprising what you can learn by concentrating your energy in one particular area.
And once I figured out the next steps (demonstrating my newfound expertise), it started to pay off in commission cheques. This happened quite naturally, without any preconceived plan on my part. I just learned these skills by fluke, more than anything.
Even though it took me months to complete my first transaction, I ended up earning $186,000 in my first year, then $590,000 in my second year, and my career took off from there. But here’s the critical point:
By consistently looking at hundreds of properties and following a simple system, I turned myself into an EXPERT. Then, I learned how to leverage that expertise into commission cheques, which is easy once you learn a few more simple skills.
This is why I believe strongly that every agent should become a Geo Farmer, but not the prevailing definition of a Geo Farmer, which seems to be “the agent who spends the most money marketing themself.”
My definition of being a Great Geo Farmer has nothing to do with spending the most money. It’s about gaining the most knowledge.
This is why the first module of my course (The Agent Skills Master’s Program) is all about Geo Farming: How to identify the best farm for you, how to get started, how to become the Undisputed Area Expert in a matter of a few weeks, and how to then leverage your newfound knowledge.
There’s much to learn in becoming a highly successful real estate agent, but it’s surprisingly easy to become the #1 most knowledgeable agent in a particular area. Even a brand new agent can become the legitimate #1 expert in any area they choose with a little effort. I’m living proof.
Once you are the #1 most knowledgeable agent in a particular area, you’ll be surprised how much easier this business becomes, how much more confidence you have, and how you can apply the skills you’ve learned to many other areas of your practice.
But let’s return to the fact that you’re now the #1 most knowledgeable agent in a particular area.
Now you’ve got something of real value to talk about!
I like the idea of becoming an expert in the area where you live because this is where you meet the most people, including your neighbours, other parents from your kid’s school and sports teams, or even just doing a little laptop time at your local coffee shop. You should be constantly seeking out ways to meet more people.
Once people learn that you’re a real estate agent, it’s easy to demonstrate your expertise because everyone is curious about what’s happening in the market within their community.
For example, someone mentions a new listing on Mulberry Street. This is an easy opening for you to chip in your two cents (both pros and cons). You’re able to speak knowledgeably about it with authority. Why? Because you’ve already seen it! You viewed it the day it was listed (or the day after), which means you’ve got way more information than anyone else who has merely seen the listing on MLS.
Do you know how powerful this is when chatting with people at an Open House? Or even more so at a listing presentation?
After a few weeks, you’ve seen ALL the active listings and EVERY recently sold listing!
And, by the way, NONE of your competitors can say this because they’re too lazy to do the work.
You probably won’t see an instant return on your investment of time, but one day, you’ll surprise yourself with the volume of knowledge you’ve accumulated and how it pays off in the most unexpected ways. Keep it up, and the benefits will compound over time.
Over the years, I’ve quit doing this, started it again, then got lazy and stopped doing it again. But every time I start doing it again, I’m pleasantly reminded of why I do it, and before I know it, it starts paying off again!
Writing this post is just what I needed to incorporate this into my daily routine once again. What about you?