Real estate professionals are extra good prospects for our business. Here’s why:
1. They like to sell
2. They’re 100% commission based: no sales => no income
3. Their income is not steady. When the market’s up they’re in chips; when
it’s down, they’re scrambling for money to pay the bills.
Here are the most common mistakes networkers make approaching them.
1. Denying you are in sales. They LIKE to sell.
Say you ask a real estate agent what they do. Have you ever heard one
say “Oh, I share homes”? Or “I educate” people about homes? They know what
they do: they sell – property – to people who are looking for property.
2. Telling them the money’s easy. They know better, they ARE in sales.
A gent on the call last night offered this when he got them on the phone, “I have a way
to make some really big money together.” I called him on it of course, like you would:
“Cool. So how much do you make with it right now?” Silence.
He then offered, “OK, how about, my upline, he makes $25,000 a month with this.
You can too…”
This is total pie-in-the-sky talk. Anyone who’s ever had a business of their own,
especially real estate professionals, recognize it.
Real estate people know from experience how hard it is to make money selling.
So when they hear such fantasy, the warning sirens go off: “It’s one of those people
with one of those things. Run!”
(Besides, if it were so easy to make the big money, why are you spending your
time soliciting them? Shouldn’t you be out enjoying all that easy big money?)
3. Offering the wrong part of the opportunity: the recruiter option
We have three ways to earn income: 1) the one time shots from signing up recruits
(from that initial big order); 2) getting regular customers who buy each month
(the commissions from those orders) and 3) overrides from the downline
purchases of people in your organization. #3 takes years to build up.
Real estaters don’t need another opportunity to earn one-time income
shots from our recruiter orders.
They already have that with their own business, and they make a lot more than
we do per shot: 6% commission on a $200,000 home gets them $12,000, of
which they might keep half – $6,000, or a quarter – $3,000.
What do you get selling a $1,500 recruiter package? Maybe $300? And it’s
just as unpredictable for us as selling homes is for them.
Our edge: regular income during the down months. That’s what we can offer
that they don’t have right now. That’s what sold me on the business when
I was a real estate broker.
Say they like your product line. You tell them they can earn $8 for each customer
who orders each month. Then stop talking. No promises. My only question to
myself when I heard that was: how many regular customers do I need to cover
the down months?
I figured if I had even 100 customers (my sponsor had gotten 56 over three years)
I’d get $800/mo (100x$8), and that would cover some of the office rent.
THAT is why I got involved. I thought for sure I could get 100-200 customers
in a few months, just talking to my daily contacts. I was on the phone all
day anyway…And I did get those customers.
After that – that’s when I saw the potential of this business – regular income
on sales I made once, and maybe some other real estaters might like to know
about that, too.
So there you have it. That’s how I began years ago, and nothing’s
changed for real estaters that I know of.
Real estaters: your thoughts?
Non-real estaters: your experience talking to real estate people?
What if you could learn to tell your story so you can amaze and delight your customer niche: Here’s a book and CD program to help. And here’s help for talking in a human voice about your business – a CD set and cribsheet .
I totally agree with everything you’ve said. When I talk to people in real estate and mortgage companies, I say,
“We’re introducing a new health product to the area and we’re looking for people to help promote it and get regular customers. Do you know anyone who might be interested in working with us?”
Then, when they inquire further about the details of profit margins, I say:
“The difference between wholesale and retail per bottle is $15, so that’s $60 per case (4 bottles). The customers can either buy direct from you, or through the company website.”
Simple, really. I always get a great response from people. No one thinks I’m “weird” or “it’s one of those things.”
Although there are 8 different ways to make money with my company, direct sales is the easiest to explain to normal people. Best to get them interested, signed up, and then they can inquire about the other ways of making money. Don’t confuse them in the beginning. Just my advice.
Mona Vie Marketing Group
This is why it’s so important to acknowledge every person’s individuality and to approach them on what they want… not on what we think is so great.
We need to use our ears more and our mouths less. Ask more questions and really listen to their answers. There will always be clues in abundance in their answers as to how you can serve them.
For people who already have a profession and they may only end up being faithful customers, having a monthly or quartlerly newsletter packed with good advice related to your product or a situation that it solves can be really helpful.
I’ve had customers that stayed wtih me for years and I’ve had some who came in for the business who’ve lasted less than a month.
Kim’s right about realtor’s knowing they are in sales and not pretending it’s a sharing business only.
There are a couple of things in our favor if we can just be upfron with them from the beginning:
1) It is very difficult to make a really good living in real estate, requires long hours, and missed family time.
2) I think almost every realtor I know has rental property;therfore they understand the importance of residual income.
3) By owning rental property they not only want residual income, they also:
a) Understand it takes time to build a business
b) Looking for the right opportunity
c) Understand timing in the market
Realtors can be good prospects for the right network marketer.