Remember the concept“ you locate a buyer; you do not create a buyer.”
Here are three different examples of developing sizable networks:
1. You have 10“ active” leads in your universe. Another person that you follow up with consistently has a total of 10“ active” leads in their separate network. If you communicated with your 10 each month or each quarter, and they communicated with their leads, then the total universe of“ active” possibilities would be 100.
2. You have a mediumsize network, such as 100, but fail to engage in a consistent followup daily action habit. Failure to engage may become your barrier. It will be necessary for you to change your action pattern. Calling, emailing, and communicating consistently with at least 1020 active prospects daily is a good start. Twenty is not a magic number, but if you call and they enjoy talking with you, that may be all you can handle. Otherwise, you may be calling 20 to 30“ actives” per day, completed and nonanswered calls, and follow up with a polite“ thank you” email.
3. You have 200 or more“ active” leads in your network that you follow up each month or quarter with a good action habit. The person you follow up with also has 200 or more potential leads that they follow up consistently with a good action habit. 200 X 200 = a total of 40,000 universes of possibilities.
Let’ s assume that your CPA has 2,000 clients. During a meeting between the CPA and the client, the client needs a service provider. Whose name pops up? Yours, if you have been effective at your job of staying in touch with the CPA.
The purpose of these examples is to serve as a reminder that if you want to become successful, then associate and follow up with other correspondingly successful people who also have an extensive network. Imagine having 1,000 or 10,000 different people who are receptive to taking a call from you, showing you respect, and enjoying the conversation, and who also have an extensive network of their own.
Leveraging your time and effectiveness:
There will be a natural point at which you will not be able to keep up the pace, close all the transactions, and provide quality service because you will be overloaded. You should hire an assistant to leverage your time and effectiveness. The assistant may be an employee or an independent contractor.
The salesperson should identify the task that only he can do, such as facetoface communication with the client. Others may be writing up an offer and presenting it to a seller and seller’ s agent.
The salesperson should identify tasks that can be effectively delegated to an assistant or junior partner.
Remember the concept“ you locate a buyer; you do not create a buyer.”
A government license scheme may prohibit an assistant from certain functions and limit the decision to delegate. However, in some states, such as in California there are provisions in
real estate licensing for performing certain functions under what is referred to as unlicensed assistant law. Each state has its own.
The effective delegator will free up time to close more transactions, spend more with his family, and enjoy time in his mental hobby shop.
Remember the concept“ You locate a buyer; you do not create a buyer.”
MEET DAN HARKEY
Dan is President and CEO at California Commercial Advisers, Inc. He consults on subjects of Business Growth & Private Money. Dan often creates articles interrelated to these subjects. He has been active in the real estate and financial services industry since 1972 & possesses a lifetime teaching credential for secondary and adult education. He has taught over 350 educational seminars on subjects related to real estate lending, private money lending & loan underwriting for commercial / industrial properties.
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Contact Dan Today Mobile: 949.533.8315 Email: dan @ danharkey. com
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