As a real estate agent, your sales track record is a gift that keeps on giving--at least it has the potential to be, after you’ve built it up. Not sure how? You’re in luck: top broker Ben Bacal shares the tips and strategies he used to start and grow his impressive sales portfolio in 13 years.
First, let’s cover why track record matters...
What role does track record play in your next deal? Bacal sums it up in one word: leverage. “It’s all about leveraging past sales...and build(ing) up from there.” Whether it’s your 1st listing or your 100th, you’ll be going up against the top brokers to get the deal. One of the biggest things sellers look for is a solid history of getting great offers to close sales quickly.
This goes hand-in-hand with prospecting every day as your best bet to getting listings and working your way up--it helps a lot to walk through the door with a strong track record. Here’s how to build one...
Co-list with top brokers
Don’t make it a solo effort--if you don’t yet have the big book of past sales to show, work with someone who does! Bacal highly endorses co-listing properties with top brokers; it’s exactly how he started his portfolio in 2005, booking $36M in sales by the end of his first year!
When you’re a newcomer, co-listing is a good way around competing as an underdog against experienced agents. It gives you a much better shot to land the listing, close the deal, and add the sale to your book. What’s more valuable? You the chance to learn from the best in action, as Bacal did, watching-and-learning how to pitch and leverage deals from the top broker at the time, and then adapt those methods to build up your sales.
Bring a buyer, land the listing
About 9 times out of 10, sellers will ask: “do you have a buyer?” The answer should be yes. Having a buyer ready-to-go when you’re interviewing for the listing shows you’re bringing real value to the seller. That can be the boost you need, especially when starting your portfolio or facing steep competition.
Don’t have a buyer for the property? Reach out to colleagues or other agents in your network; the effort is worth the advantage in landing the deal.
Building a leverageable sales portfolio does take effort and strategy. As Bacal says, the business won’t come to you--you’ll have to go out and prospect if you want those listings. But with every addition to your track record, it’ll get a bit easier to reach that next deal.
Woodland Hills Real Estate Agency
Provides service in English, Spanish, Farsi, Hebrew, French, Arminian, Russian, and Arabic
Call at (818) 770-3660
Address: 22020 Clarendon St suite 200, Woodland Hills, CA 91367