4: This Is How You Sell $1.5 Billion In Real Estate – Michael Edlen

Summary

michael edlen, real estate agentWhat does it take to sell $1.5 Billion in real estate?  Well, Michael Edlen spills the beans on how he’s done it.

Profile

Agent:  Michael Edlen

Market: Western Los Angeles, California

Steal His Ideas:

  • Open houses
  • Continual follow up and prospecting
  • Hiring a team of specialists
  • Complete 5 important tasks a day
  • Advertising of your listings and your business
  • Offering amazing service
  • Energetically look for and claim opportunities
  • Assume to have abundance in all areas of your life

Strategies

Sure, it helps a bunch to get to $1.5 billion in real estate sales if you live in a higher-end market.  But, no matter the price point, you don’t get there without dedication, focus, a business-owner mentality, and loving your job and looking at it as “play” instead of “work.”

Before Michael was selling gazillions worth of homes, he started out simple…and continues a lot of that simplicity in his business today.  One of his favorite strategies he started with back in 1986 (and still does today) is open houses.

His focus was and is on providing amazing service and being truly interested in the client and not the potential outcome of the deal.

Although he doesn’t time-block parts of his day, he does plan the prior evening to complete 5 essential tasks the following day.  He feels that being extremely focused is a key to getting a lot done in a little time.

Another key area where he accomplished a lot is simply by having a team of 6 people that help him.  Each person has a designated job to do.  Michael treats his business as a company with employees that each have specific roles.  So, he doesn’t do paperwork or marketing activities. He focuses on the high-value activities of prospecting, listings, and negotiations.

On the seller side, they put a lot of time into marketing listings not only for the benefit of selling the house, but also for brand exposure for his services.

On the buyer side of the business, Michael has online lead generation sources like Zillow and Tigerleads to bring in various levels of quality leads.  One thing he says he’d do differently if he had it to do over would be to make more systems and processes to create more accountability in how those leads are followed up on.

Lightning Round

What’s the worst marketing you’ve done that others should avoid:  Committing to a new type of advertising without much proof of its success.  He encourages a free trial or limited paid trial before committing too many dollars to something that may not work.

What keeps you motivated:  Enthusiasm to be of service to people.

You’ve got 30 days and $1000, what do you do:  Get 10 personalized open house signs and work open houses like crazy.  He feels that this is least costly way to effectively meet people and start building a database.

How You Can Do What He’s Done

Start with open houses.  Build your database person by person.  Extend your team by hiring people with specific duties.  Branch into paid advertising for your listings as well as buyer leads, but always be cautious about how much you’re spending and evaluate the return.

Resources

Michael Edlen Real Estate

TigerLead

 

 

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