01 Jan Mike Sety – The Biggest Problem Holding Back My Real Estate Business
Mike Sety is a REMCamp member and a real estate agent in Boise, Idaho.
A few days ago I sent out an email to REMCamp members asking them:
What is the one problem with your real estate business that you need help with? What is your deepest frustration and what is holding you back? At the very core of your business what problem do you need fixed that would dramatically change your business?
Here’s Mike’s unedited and honest answer. I’m publishing it with Mike’s permission and well wishes to everyone in 2016.
I hope you take the time to read it, identify parallels with your own real estate business and post a comment below.
Also take a look at my breakdown of the Biggest Real Estate Marketing Problem.
Mike Sety, Dec 29, 2015
What do I need help with?
I’ve been an agent since 1990. I am 77 years old and I’m still working because I stepped outside of my knowledge base and bought a farm. I am still working to feed the farm and prevent it from eating our retirement. This spring I will be selling the farm… hopefully at a near breakeven point.
If that happens, I can cut way back and just help clients that still want to work with me. And, therein lays the problem. I’ve lost track of most of my clients. For example, I ran into a woman at a Plumbing supply house. She and her husband bought a house with my help 5 years ago. She still thinks super positive about me and my Real Estate skills. But she never brought me a buyer or seller. Not one in 5 years. She knows how to find me and speaks highly of me but she doesn’t “refer” me.
So – to answer your question… I need to “enroll my client base in a fan club” that will refer me.
Let me go back to your question and try to answer the 2nd version of Q1
OK… My Deepest frustration is with myself. Damn wine is kicking in. I really want to be face to face with my clients. I think anything less is a waste of time and energy and money. I know better but I am so good at “rapport with individuals” that I don’t need anything else to maintain my business. Seriously – people I meet and work with in person are “connected to me by a bond of trust and honesty”. people almost always see me as a Beneficial Helper. We bond for the time we are together. Get the job done -buy or sell – and I move on.
Next time I see them – all is well but the connection doesn’t make them want to refer me.
About 3 to 5% of my past clients used to be my total source of new business. Somehow – they have sensed my retirement mentality and acted accordingly… Referrals have nearly stopped.
So my deepest frustration is with myself. I’m in a shutdown mode. I did not make my business a self-sustaining business. I hired a few people along the way but I didn’t really work with them to grow my business, I see “teams” becoming the solution to this problem. I am happy with the status quo… and I will be ecstatic when the farm sells.
Next question… Question 3. I wrote all of the above last night then went to sleep. Continued on the next page.
What do I need fixed…what is holding me back. I think I’m holding myself back.
I guess I need to ask myself if I really want to grow my business.
That brings me right back to the beginning of this soul searching endeavor.
I’ve been telling myself that the reason I am still working is because I have to feed the farm. The question I really need to answer is – would I keep my license active if the farm was sold. The answer is yes. But, I would not seek business.
So what do I need or want to help me maintain an income and still have free time after the farm sells. By the way it will sell. I just need to let go of it. It was a dream that no one else in the family bought into. Now it’s a liability.
I think the best way to revitalize my business is to re-engage with my client base. I started to do that with the last REM Camp. But, got busy and didn’t follow through.
I need a simple way to stay in touch with my past clients. A way that allows them the freedom to accept my presence after the absence – if they choose to do so – and keeps me in touch with them as much as they want me to be in touch with them.
www.Yodle.com comes to mind. So does Facebook.com
Now I’m going to print this and read it out loud to myself. I will edit and send it.
Post a comment below if you see yourself in Mike’s letter and make sure you read the 5 part special report on how to identify and overcome the biggest problem in your real estate business.