The Most Important Ingredient For Success In Real Estate

There are many factors to becoming a super successful real estate agent, and everyone has their own opinions on the subject. Some think it is related to how you get leads such as online, cold calling, door knocking, etc. Others think it is mindset along with how you were wired when you were born. While some believe it is in the work ethic meaning the strength of your productive habits. I think it is a combination of each of these of course, but I think there is one thing that trumps all. Consistency. That’s where the money is!

I can take an agent who has the gift of gab and could sell a ketchup popsicle to an eskimoe. I have seen people like this. Amazing salespeople. Lovable, likable, knowledgeable. They can sell anything to anyone. It really is an incredible thing to watch. But, I can take an agent like that who is an amazing salesperson, but is not consistent, and put them up against an agent like me (a pushover, no real social skills, not a salesperson—BUT WHO IS TEACHABLE AND CONSISTENT) and watch what happens. The great salesperson will make a few sales much faster than me, but over time, they can’t keep my pace. My pace is such a high level that never stops. This is what keeps me ahead. It is the consistency in everything I do.

Over $2MM in Sales Through Consistency

I will tell you the story of the $2.4 MM/3 transaction deal I completed earlier this year off of a postcard I sent out every month for three years, or real estate farming. I was sitting at the house on a Saturday catching up on some emails, and my phone rings. I did not recognize the number so I answered, “Good morning. This is Ricky!” It was a lady who started talking about a condo for sale in Orange Beach. We continued talking for a few minutes and she eventually told me that she had a condo and wanted to upgrade from the bay front condo she was in at the time to a condo directly on the beach. That made perfect sense to me, and of course, I was glad to start working with her. I knew the condo she was currently in was in the $700,000-800,000 range. I asked her about the criteria of the condo she would like to buy on the beach, and we started to talk about different complexes that offered those type of amenities. There was one complex that I thought would really make her happy and she agreed to meet with me that day to look at what was available in that particular complex. So, I set it up and we checked it out and she loved it. We made an offer and get it under contract for $850,000 contingent on the sale of her condo. I listed her condo and we got a quick offer, but couldn’t get it worked out. So, I made cold calls looking for another buyer and tried everything I could to market the property with no luck. A few weeks went by and she started to get cold feet about the beach front condo we had under contract (trust me, there were plenty of times I thought this whole deal was going to fall apart, but I continued plugging away).

Well, she did pull the plug on the contract with the beach front condo. However, she did this because she had her eyes on another complex she liked better. What happened was that her daughter wrote an offer on a condo in this other complex and she wanted to be in the same building as her daughter. The problem was that the one her daughter wrote a contract on was the only condo for sale in the complex. No problem. Finding condos is my specialty. I cold called the complex and found a seller of one of the nicest condos in the building. I met with the owner and we worked out a deal that if I could sell the condo to my buyer, he would buy another condo from me as well. He also wanted to upgrade. So, I showed his condo to my buyer and she loved it. We were under contract by the end of the week. This meant it was time to go condo shopping with my new clients that were selling their condo to my buyer who was also selling her condo. Now we got a deal going on, right?

So, after showing twenty condos in Florida to these buyers five different days, spread across two weeks, I was ready to get under contract. We finally did for $1.2MM on one of the most incredible condos I had ever seen. Well, they backed out after a week due to association issues that they were just not comfortable with. I understood that. So, back to the drawing board. After another ten condos and two full days, we went under contract again on another fabulous condo at a cool $1MM. Great! Shortly after that, we found a buyer for the original clients condo. Perfect.

I finally had everyone under contract and ready to close on their new condos to move in and start decorating. The only problem was that all the deals were contingent on each other closing and really the most important closing was the buyers on the condo the lady owned that first called me. All and all, there were several sketchy moments that we all thought everything was going to fall through, but we got it done. I had to throw several thousand of my commission in to smooth out a few things in order to get it to close on time because my last buyers had a moving truck full of furniture that had to be unloaded on a certain day. Lots of crazy stories involved in this deal. But, like I said, we got it done.

So, I had one side of a $765K deal, both sides of a $685K deal and one side of a $1MM deal. All closed the same day along with two other deals. That was a good day, and it all came from a postcard I consistently sent out for three years.

This is why it is hard for me to hear agents tell me they used to send postcards out, but didn’t get anything out of it for a year so they quit. If I would have quit sending postcards to that complex after a year, I would have lost out bigtime.

Ricky Carruth, RE/MAX of Orange Beach

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