My good friend Dean Jackson once told me this, having listings will NOT make you a more successful real estate agent….only SOLD listings count.

Second, getting “famous” in a farm area does not equal getting “Rich” as a listing agent.

Here’s the evolution that most agents go through to some extent throughout their career.

As a new agent…it’s all about finding some buyers to work with. Holding open houses, doing floor time, getting your feet wet.

All of that stuff is about self-esteem. “I better work with some buyers just to get some experience” and then, as they get busy and realize how hard it is to actually find buyers to work with, the next level becomes…I’m going to move on and become a “listing agent”.

So what happens?

Something very similar to this sequence:

Phase 1. I need to create a “Personal Brand”

An agent gets to observing and sees that it appears the most successful agents in the market have a slogan, and full color super-deluxe postcards, brochures, billboards and image ads.

They further deduce that must be what makes them successful.

So, they crack open their piggy bank, empty all the money they have and take it to the “full-color-super-deluxe-image-building-specialists” and give it all to them to create a one of a kind personal promotion package.

3 months later, after spending weeks agonizing over the decision of which picture of me conveys a better image…the skydiving picture or the picture of me on a horse?

The proofs are in and… It looks great!

They approve of everything, and then find out that it’s going to take a few thousand more to get the stuff actually printed…the big fee was only for designing the stuff.

Oh…well, I’ve gone this far…I can’t stop now.

I’ll just use my “power-line” from the bank to get things started.

Phase 2. I need to get my name “out there”

Armed with the matching brochures, the postcards, the website and the letterhead…it’s time to start spreading the word!

Oh, those “big” postcards cost MORE to send out?

Ok…well, let’s go for it! If I just get 3 transactions, it will “more than pay for itself”

“Repetition is the key!”

“You’ve got to get your image out there consistently over time…that’s the only way you’ll ever get that important “top-of-mind” awareness.”

So they spend, and send the postcards, buy the billboards, run the ads…and it works.

Sort of.

“Someone in the grocery store recognized me! — and I wasn’t even “dressed up”!”

“At church, Mrs. Nelander told me my brochure was lovely.”

That’s sort of encouraging…for a while…until…

Phase 3. “Hey, wait a minute…I’m spending more than I’m making!”

I better put a “hold” on this stuff until I get some money coming in. Those postcards aren’t dated, I can wait a little while, it will probably work better in the spring market anyway…now that I’ve planted the seeds.

I’ve seen that scenario too many times.

The sad thing is, there is some truth to image advertising.

The most successful agents “appear” to be successful because of the advertising they do, and they seem to be all over town with the billboards, the full-page ads, the postcards, the bus-benchs, the for-sale signs…they must have 30 listings!

All of the money they spend, and the image advertising they do creates a big stir and they get business because of it, but many times they are spending as much or more than they are making at the end of the year.

And the saddest part of it is…even if it does work, they’ve created a business that is so dependent on them, they couldn’t stop it if they wanted to.

It becomes like a big “Jenga” puzzle with all the pieces stacked on top of each other to create this business tower, and you can never tell which piece you remove will cause the whole tower to collapse.

Is it the billboards? The postcards? You can never tell.

As someone once said…”I know HALF the money I spend on advertising isn’t working…I just don’t know WHICH half!”

I realize it may seem a bit harsh…but every word of it is true. I speak to dozens of people every year who are in one of those 3 phases.

The saddest stage to see someone in, is at the end of phase 1, when they’ve already spent the money, got their proofs and have put in the order at the printer.

Those people are committed. There is nothing you can do to stop them…and when I see them again the next year…they always say “I wish I had listened.”

Anyway…go ahead and do it if you want. I’m just here to tell you there’s another way.

What if I could show you a better way, would you want to know?

You may want to email me mark@notapennydown.com

Mark Fidgett | 604-273-2002

“Your Personal Mortgage Consultant….For Life!”

PS – Please Don’t Keep Me a Secret

A REFERRAL is when you INTRODUCE someone you care about to someone you TRUST!

T 604.273.2002 | F 604.522.2072

http://www.notapennydown.com

An independent Mortgage Specialist associated with the Verico Mortgage Network.