Jun 22 in General discussion
The Proof Stacking Story - Where It Started
I started at Coldwell Banker Commercial Real Estate in their sales training program. It was amazing. My entire life was shaped by what I learned. The first thing I was told was "we are the largest and most successful real estate company in the world for 1 reason, we have a system, if you follow the system, you will succeed, if you deviate, cut corners or think you have a better way, you will fail".
Every major brokerage firm was formed based on this model.
There was one major problem. No one every explained “why” the system worked, we just knew it did.
Over time, the original system became diluted. It is not taught with the same sense of purpose. New agents started doing it their way. That's probably why the failure rate is so high.
The system can be taught with a few basics.
1. Target a specific market with 1000 owners
2. Focus On Getting Exclusive Listings
But why?
Here's a short story that explains why.
When I was an agent in NYC I sold small residential and commercial buildings on the Upper East Side (66th St - 96Th St, Fifth Avenue to Lexington Avenue)
Every month or two, I sent a newsletter to my market. I loved sending the newsletter. It's like buying a lotto ticket. I always had a sense of excitement that someone would call and want to sell their building. Oddly, that never happened. What did happen was, when I stuck with it, over time, business came in.
One day, I got a call from the owners of a beautiful limestone townhouse at 22 East 67th Street. I had been calling them and sending my newsletter for 7 years. They said "we'd like to have you look at our building and give us a price".
When I met with them, they had a stack of every newsletter I ever sent. They basically hired me to sell the building on the spot. They didn't even speak with another broker. I think i sold the property for about $7 Million.
The result epitomizes the system I was taught. It took years for me to discover why it worked. It comes down to trust and belief. The only way to build trust and belief is with Proof. And the key is Proof Stacking. That's the formula and why it works.
The image you see here was one of the first newsletters made on a copy machine. The key is to stick with it. Keep stacking the proof.
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The Proof Stacking Story - Where It Started
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