Why You Should Do Your First Real Estate Deal For Free

If you are brand new in real estate or if you’re just looking for something to get
some serious momentum going in your business, this is going to be the message for
you.
I know a lot of you are thinking why in the world would I do a real estate deal for
absolutely free. I’ll tell you right know this is something I wish I would have known from
day one in real estate 17 years ago. I would be so much further ahead in my career
right now if I understood the principles that I’m going to talk about in this post. It took me
8 long months to make my first sell. I would have made my first sell a lot sooner if I
would have known what I’m about to tell you. First, I want to tell you why you should do
your first deal for free and then I am going to tell you how you should do your first deal
for free. Before I get into these two points, I want to let you know that this past Thursday
I called prospects live and offered to sell their property for free. The link to the video is
below. This is something that no one has done in the industry.
The entire zerotodiamond philosophy is relationships over transactions. In the
very first half of my career, I did real estate completely backwards from the way it
should be done. Everything for me was about the transaction, the money, and the deal.
It wasn’t about the people. It took me losing everything in the crash, going bankrupt, and
homeless for a brief moment in my life to realize what I had done wrong and how I
needed to rebuild my business based on relationships, not transactions. When I got
back into the business I started maintaining and creating lifelong relationships with my
clients, I didn’t care if the bought or sold anything, I just wanted to help them for the rest
of my life any time they wanted buy or sell something or knew anyone that wanted to
buy or sell something. I quickly learned that every prospect that I do this with is worth
10-20 deals with me over the life of my career regardless if they do anything the day,
month, or even the year that I talk to them for the first time. A lot of trainers and real estate coaching programs
will tell you if real estate prospects are not motivated, move on. To me that’s the wrong advice. Most of my
business now, and the reason I am able to sell over 100 properties a year for the last 5
years straight, is through the exact process I am telling you. Creating and maintaining
lifelong relationships with so many property owners and potential buyers in my market.
You cannot worry if they are going to do a deal or not. A lot of agents ask me “how do I
convert” “when I go a listing appointment how do I get them to sign the listing
agreement” my answer is…you don’t. Your job is not to convert them or make them sign
the agreement. There is nothing you are going to magically say that’s going to make
them sign the line or do the deal. They already know when they want to do the deal.
They want an agent that they feel comfortable with and makes them feel like a friend or
family member. I call it the F E effect. They need someone that is going to represent
them the way they want to be represented and not try to pressure them into a situation
just because the agent wants to make some money.
The number one skill in real estate is not how to get somebody to sign the line or
knowing how to handle objections. The number one skill is learning how to effectively
communicate who you are as a person to your clients. That you care, are hardworking,
dependable, professional, knowledgeable, that you are going to go over the top to help
them through whatever the situation is that they are trying to get through and make sure
everything goes smooth for them. So the reason you should do your first real estate
deal for free or if you’re plateauing in your business and you can’t get any momentum
going and not sure how to get it going again you need to do a real estate deal for free.
What happens is you begin this relationship with this prospect and they will never use
another agent in their life. They are going to refer everyone they know to you. I have
been thinking about this for several weeks and contemplating what the strategy should
be on this. My strategy is with for sale by owners. You can’t take an owner and say “I
am going to list your property for free” or put it on MLS in your name for zero
commission. Your broker would not agree with that, it’s not how it’s going to work. But,
you can go to a for sale by owner and consult them, help them, teach them how to put it
on MLS themselves, show them how to make better remarks, get professional pictures,
and advise them on the price. You can do all the things and teach them all the secrets
on how to sell it on their own. Don’t be the gatekeeper on MLS, show them how to put it
on there. A lot of agents want to hold that back so the for sale by owners think they
must have an agent to put it on MLS.
The strategy is very simple; we are going to advise them, put them in the best
position, and not hold back anything. Give them everything to help them sell that
property. To take it a step further, I would even make phone calls to property owners
who you think could upgrade to the property that’s for sale. What happens is as far as
the for sale by owner is concerned you went over the top to try and get their property
sold. What if they don’t sell it and they get ready to list it because they are tired of all the
showings, dealing with the buyers, and dealing with the people said they were going to
do things and show up at different times or don’t follow through with offers. They are
tired of it and ready to give it to an agent. What agent do you think they are going to list
with? They are going to list with you because you were there trying to help them with
zero commission. Let’s think about the flip side, if they do get it sold themselves through
your advice and now, they are getting ready to buy. Who do you think they are going to
buy through? You, the one who was helping them for zero commission and when they
buy, they don’t pay a commission at all so they are a lot more open to dealing with in
agent in the buying process. In a couple months or years when a family member or
friend is ready to buy/sell a house who do you think they are going to refer that person
to? You.
Let’s say you took the rest of my advice and started making phone call to try and
sell that property. When you are talking to the property owners who might want to
upgrade to the for sale by owner, you are going to run into all kinds of different people
and have so many incredible conversations and create so many future relationships.
There may even be some people in those phone calls who want to do business now.
They don’t want the for sale by owner, they want something else that’s listed, or they
want to sell their house. They’re looking for an agent. This is how you get business
going, stir the pot, talk to people, get on the phone, create activity, take massive action.
Let’s run through it again. We are going to call for sale by owners, help them,
consult them, try to sell their property. We don’t want anything out of it. We just want
them to try and get that property sold. Help them get it on MLS on their own, look at the
price, the picture, see if there is anything they want to do to the house to make it more
appealing to buyers, make phone calls. Phone calls are dual purpose, I like to have dual
purpose with everything I do. The purpose of phone calls is to help the for sale by
owners sell their house so maybe they can buy something from you and at the same
time you may run into future clients.
Let’s say that the for sale by owner sells it on their own and buys on their own or
lists with a different agent or they you didn’t feel appreciated because there was zero
contact after that, and they just went away or went somewhere else. That’s fine too.
You’re not going to win them all. It’s okay if someone does this to you, it’s part of the
business that you guys need to understand. The point is that maybe you want to do this
5-10 times and see what happens. You’re going to get 6 or 7 out of the 10 that do future
business with you for the rest of their life. Like I said from the beginning, if I would have
known this from day one, I would have been doing deals within my first month using this
strategy. You need momentum and not transactions, not business, not money. You
need momentum in relationships in the business to get to the money. The more
relationships you have the more transactions you’ll have. So, watch the link attached

and watch me make calls live using this strategy.

Sign up for Zero to Diamond, it’s free

CONTACT US

We're not around right now. But you can send us an email and we'll get back to you, asap.

Sending
Copyright@ 2017-2018 Ricky Carruth's Zero to Diamond Design and Developed by Webn8.com

Log in with your credentials

Forgot your details?