1. How did you get started in real estate?
My family owns a real estate company at the Lake of the Ozarks, Missouri and I felt it best to go into the business with my family. Since my family is the most important thing to me, what better way is there to earn a living than to work with my family?
2. What roadblocks did you first have in obtaining clients?
There were numerous roadblocks when I first got into the business with obtaining clients. I started in 2007 just as the “Great Recession” was getting started. Finding qualified buyers was next to impossible. Dealing with sellers was even more difficult, as they were unable to grasp how much the market was turning.
The biggest problem that any new agent encounters is “lead generation”. How do I go about finding leads, either to find buyers or sellers? I hit the perfect storm with the “Great Recession” and trying to find clients. It was a very hard time, and yet I cherish that hard time for what it has made me.
3. What was the technique you initially used to find clients?
GET INVOLVED! I found any and every single group or organization that I could, and I got as involved as I could. I started coaching soccer in a local recreational program, I joined BNI, I went through my local county Leadership Class, I joined the University of Missouri Extension Council, I became the District Chairman for the Boy Scouts of America, I joined a men's league (golf), etc. Any place that I could find to get involved and get my name out, that is what I did!
Yes, the community knew my family, but they did NOT know me. I had to get out there, meet everyone that I could, and then the biggest thing was asking for the business! Most new agents have a hard time handing out the card and asking for the business. That was something that I was able to do well.
4. Was there a specific tool or resource you utilized when you first got started?
My biggest tool at the time was Excel. I used this to help me build a database and manage it. Now, I spend quite a bit of money every year on a Customer Relationship Management (CRM) System. Any REALTOR that is not using a CRM is just fooling themselves into thinking they will be successful. You must use a CRM if you are ever going to be able to manage your clients in a professional and timely manner!
5. Is there a prospecting technique that you currently utilize that helps generate your leads?
I have several techniques and scripts that I utilize to help generate leads. I utilize specific scripts to cold call FSBO’s. These scripts help turn FSBO leads into Sellers. I utilize my CRM and websites to generate qualified buyers. I am also very fortunate to have built a very good business off of referrals.
Today, over 50% of my business comes from repeat clients and referred clients. These past clients, friends, and people in the community now know me, my level of service, and the type of person I have become. Because of my involvement in the community, people know what I can do for them.
6. What was your greatest struggle when you first got started?
Lead generation, market knowledge, and my own ignorance to change. Honestly, I fought many of the things that I now consider invaluable when I first got started.
I did not think that scripts were something that I needed. I did not think that I needed a CRM. I did not think that I needed to review the market hot sheet every single day! These were very ignorant and stupid decisions.
I now review scripts, change them, and practice them every single day. I have a wonderful CRM that I use all the time, and I also time block 30 minutes every day to learn something new. I review the Hot Sheet every morning as well as review the 3-year statistical data report every day.
7. What did you do to overcome it?
MASSIVE ACTION & CHANGE! This can not be stressed enough. Probably the biggest asset that I have come across is books written by other successful Real Estate Professionals. I now read at least 10 pages every morning before going to work in order to give myself more knowledge and idea’s on how to become better.
A wise person once told me, “You are a complete moron if you don’t read every single day. A book is nothing more than a person’s life experiences & knowledge, wrapped up in a readable format that can be purchased for a very small sum of money.”
8. What are you most excited about as you move forward with your business?
The future and the unknown. Real Estate is an ever-changing business. Currently, it seems that everyone is trying to get into the real estate business. Zillow, Trulia, REALTOR.com, Redfin, Zillow’s Instant Offer’s, new brokerage’s, new agents, even Facebook has entered the market.
And what is funny is that REALTORStm have proven themselves to be the one consistency to Real Estate. We evolve our business and change with the world, technology, rules & regulations and so much more. We are there to assist in times of crisis, we are the one professional that truly wants to enrich the lives of those around us and our communities.
We care about everyone and everything. School systems, local, state & national government, insurance companies, bankers, construction workers, and so forth. We are the only true professional that touches the lives of every single person and business in the community. We make a difference every day, and it is the most rewarding thing in my life. I can’t wait to see what the future holds and how I am going to be able to help those around me.
9. If there was one thing you could say to someone considering giving up on their real estate career what advice would give them?
There is not one thing that I could say to this type of person. If they have mentally already given up and moved on, then there will probably be nothing that I could say to bring them back in.
Something I always ask everyone, no matter what business they are in, “What is your Why?”. Why did you wake up this morning? Why did you choose this career? Why do you want to be better? Where do you want to go in life and Why? Where do you see yourself in 10 years?
And then, the follow up to all of these questions is always, “Now HOW are you going to do it?” Going back to question seven, MASSIVE ACTION & CHANGE. Why do you want to do that and HOW are you going to. The answer is always MASSIVE ACTION AND CHANGE!
10. What motivates you to get up every day and work hard?
First and foremost, my wife & daughter. They are the world to me, and I want to make sure that they don’t have to worry about monetary struggles. This does not mean that I wish to be rich, a millionaire, or anything of that nature. I live a pretty conservative life, I don’t eat out much, don’t buy clothes often, and don’t have all the fancy toys that most have. I just want to ensure my family is ok.
Second, why are the people. I get to work with so many people on a daily basis and I cherish those times. It is so wonderful to be able to assist people in reaching one of their goals in life, whether it is to buy their first house, upgrade, sell, start a business, and so forth. Being a part of this big step in their life has truly given me a sense of value.
Third, I get to help my community and make a difference. I am not saving lives and putting out fires, but I am making my community a better place, by assisting someone in achieving their own paradise in this world. I am also assisting my school system, the children in that school, the local businesses, and so much more. Again, remember that REALTORStm touch every professional in some way, shape or form. This assists others in making money to pay for their mortgage, bills, and put food on the table.
And finally, myself. What can I do today, to be better than yesterday? I look forward to every single day as a new beginning, a new chance to be better, do better and make a better difference than the day before.
Justin Farrell: http://justin.justinfarrell.realtor/index.php?keya=33585
What is a CCIM?
I have been in business for 10 years and have grown up at the Lake of the Ozarks. My knowledge and skills are second to none. I love working with buyers & sellers in the residential market to help make their wishes become reality. In commercial, I am an expert at finding user's the right property to fit their needs and negotiating the right deal for their company. If you are looking for an investment, please put my CCIM knowledge to work for you, as I am the only Candidate for CCIM at the Lake of the Ozarks. My knowledge and skills will help you to obtain the necessary ROI for your portfolio!