© Valentin Frost, 2022
© Ekaterina Milash, 2022
Created with Ridero smart publishing system
You are holding in your hands a manual that I created primarily for myself and for my colleagues.
This handbook was designed for our company to facilitate the process of our sales department development and to help us operate effectively in the competitive real estate market.
Once I began to work on process automatization for our company it became clear for me there was a strong need for such a manual in the market.
Penetrating the market of Krasnodar Region and developing new projects, we faced an absolutely new reality of operating in the field.
We found out there were no customer-oriented companies in the market.
Today the purpose of the handbook is to help professionals in the real estate industry with the following issues:
– Changing the society’s perception of our job
– Creating a civilized real estate market
– Facilitating the processes of finding and purchasing real estate for the customers in a constantly growing market
– Increasing revenues
Do not limit yourself by only listening to the advice of successful businessmen – pay attention to what those who are bankrupt have to say if you genuinely want to win.
Your job consists of establishing communication with your partners and clients, so building additional sales funnels will only increase the performance coefficient.
Note that I am not talking about additional effort, nor about something new or unusual. In fact, this is what you are used to doing on a daily basis, however, now your revenues will start to increase.
This information will be useful for sales managers, real estate agents, executives, investors, and entrepreneurs of any kind who have been contemplating the idea of joining the real estate market, but do not know where to start.
If you implement the techniques described in this book, you will manage to build a “bridge” that leads your customers to becoming grateful property owners.
The methods outlined in this manual are as solid as the fact that tomorrow will definitely come – with or without you wanting this. There will be a brand-new day!
So, you either take action and win the battle, or the next morning is not for you.
No one is to make your job for you.
You have to do it yourself.
And now I am going to tell you how to do it.
Becoming a part of the large “Bridge” project means taking the first decisive step towards building a successful career in the real estate sphere and investment.
However, the situation in this industry is such that in order to stay in the market, you need to respond as quickly as possible to all significant events taking place in the world.
The book that you hold in your hands will become your faithful assistant in this.
“Bridge”: created for the entrepreneurs and investors as plan B:
– You have no objects? – Open the book!
– Market stagnation in your region? – Excellent. Open the book!
– The world’s economic crisis? – Couldn’t be better! Take and opened the book!
The content of the book covers all business processes and technologies for the implementation of the real estate objects and projects.
The book will give you the exact algorithms and mechanisms of work and focuses your attention on especially significant points.
It is important for us that, by joining the project, you get the opportunity for professional development, career growth and the right to independently develop your own projects.
We want to help you develop your business and grow with you, expand your geography every day, create more new projects, attract more people to our team.
But how do you structure your work? What to focus on first?
Of course, competent self-organization and effective time management play an important role at any stage of creating a project. But at first, it is especially important to correctly prioritize and allocate temporary resources.
So, what do you need to allocate time for and how to allocate it appropriately to achieve the desired result:
1. 25% of the time
▪ Planning the goals for each day
▪ Search of the objects
▪ Inspection of the objects
▪ Advertising creation
▪ Advertising distribution
▪ Sending of the letters
▪ Making calls
▪ Meetings, communication with agents, presentations in the real estate agencies
▪ Search of the specialists to develop the sales funnels
2. 25% of the time
▪ Training, participating in business trainings (networking)
▪ Improving oneself as a person, increasing the level of competence
▪ Communication with specialists (lawyers)
3. 50% of the time
▪ Customer search and involvement agents (the main activity that directly influence on the result)
▪ Environment sphere formation
▪ Target marketing
The main task at the very beginning of the way will be the search of the partners and objects. You must have your own strategy. Here is the definition given by Wikipedia:
Strategy (ancient Greek “the art of the commander”) is a general, not detailed plan of any activity, covering a long period of time, a way to achieve a difficult goal.
In a general sense, being a strategist means arranging goals in a hierarchical order, the consistent achievement of which, starting from a small goal, leads to the achievement of a major goal. The task of the strategist is the efficient use of resources to achieve goals. The main resource is people.
I remind you that all your activities consist of building quality communications. In order to sell your expertise, you must first find someone who will be interested in buying your service, so the first step is to find customers.
Definition of TA (target audience)
There are a lot of people providing intermediary services, and very few people who are ready to offer new ways to solve the problems, which indicates a large segment of the market, free from competition.
Everyone will be able to find their client if they approach this issue professionally.
Even if an experienced specialist reads these lines, he still performs the same actions every day, namely, he searches for sources of potential customers: sellers, buyers, intermediaries.
And you, my future partner, most likely know such a thing as lead. If not, then keep the information:
A target lead is a potential customer who, in one way or another, reacted to the selling communication.
The term “lead” is used to designate a potential buyer, contact with him, received for the further work.
In Russian, the expression “a customer who has shown interest” is closest to it.
The term “lead” is used in management theory to describe the methods and practices used to engage new potential customers, and the methods of building communications that allow generating the interest of potential customers are called “lead generation”. Thus, lead generation in this business is a communication technology aimed at engaging new potential customers and selling the services to them.
And since we have plunged into the world of technology, I propose to get acquainted with the concept that will firmly enter into your daily activities.
Prospecting – the activities to engage potential customers.
Prospecting is not limited to calling potential buyers and sellers.
To be effective, it must be a planned and sequential process. If we project prospecting onto our project, then it will be constant presentations in the real estate agencies, webinars, communication with agents, customers, posting ads.
Take the time to prospect!
The main difference between the prospecting of the “Bridge-INDVIZH” project and the usual prospecting is that here the search is aimed at creating partnerships, searching for partners.
In order not to “break down” after a month of work in a new sphere for you (and this is absolutely a new sphere), you need to plan your time, allocate a sufficient part of it to find and engage partners and customers. In the long-term prospective, those of you who can build the “bridge” will win customers based on your reputation and referrals. And that’s exactly what they will be able to reduce the amount of time allocated for prospecting. However, when you first develop your project, you need to learn different ways to search.
Search is a system process, not a single event.
Let’s look at the example again (real estate analytics of the north and analytics of the south).
You and I have a clear understanding of the real estate market and investments in Moscow, St. Petersburg, and other cities in the north of Russia (here we mean all Russian cities outside the Krasnodar Territory and Crimea) and understanding of the investment flows of the Black Sea cities. Therefore, prospecting should be directed in two directions. The south side is to search for projects and the north side is to search for partners. Everything is extremely simple. Investors and buyers in the north should be aware of the great deals in the south, and that’s why you connect both sides. And for the search to become effective, find partners continuously and systematically!
One of the methods to encourage investors and partners to cooperate is to give them something they find valuable. Pass on the information! This is called direct response marketing. Create an offer to receive important information for a partner or investor that they simply want to receive. But remember: the information must be really important, and your offer must be convincing. And I believe that the analytics of the markets of the north and south will become that most valuable information. Keep connecting with them. Business contacts, like any other, are based on whether people like and trust each other. In order for the relationship to be of value to the investor and partner, place them in your favor. To do this, keep them interested by continuing to give useful information in small doses. And your personal qualities will help to please and be remembered. For example, a sense of humor.
We build a system of sequential actions:
The only guarantee of a growing business and financial independence is a stable flow of leads.
Daily mailing of messages; holding at least three webinars per week; at least three streams on the YouTube channel; daily meetings and negotiations with interested parties; at least 40 quality calls per day. Here it is necessary to clarify what “quality calls” means. This means that you have reached a potential customer or partner at least forty times a day. You also already understood that you need to start a YouTube channel. Use all possible types of prospecting.
However, it is better to start with your environment.
Perhaps you know about 100 people (the “method of a hundred”) whom you see from time to time. And, of course, you have family, friends, old acquaintances, neighbors and even a hairdresser with whom you meet regularly. All these people are the basis for the generating a sales funnel. Create a database of people you keep in touch with. Gather the names, addresses, phone numbers, and email addresses of all people who know you. At this stage, you need to quickly collect the database and then start working with it sequentially.
First step: announce to everyone that you are the leader of the “Bridge” project, working in a large inter-regional network.
Second step: convince your sphere of influence that you know how to earn one million rubles per a month.
During the first 30 days in business, contact each contact six times. After this period, get in touch at least once a month. To optimize your activities, create an Excel table for entering data. Enter in the table the data of all relatives, friends, friends of relatives, acquaintances, neighbors. Let them know that you are now creating projects to engage investment in apartment real estate and business projects based on apart-hotels. Ask them to tell other people about it – for example, at work. Notification methods can be different: personal conversations, phone call, SMS.
Forming your sphere of environment involves working with all contacts. Family and friends are no exception. Everyone should know what you are doing. Remind yourself constantly!
Networking (from networking – lit. “network weaving”: net – “network” + work – “work”; “useful connections”) is a social activity aimed at ensuring that, with the help of friends and acquaintances or people who have connections in one sphere or another, to solve problems as quickly as possible.
When you first enter this project, you have time. Use it wisely. Get noticed by as many decision makers as possible. Join any public organizations and groups. There are many professions closely related to real estate and investment. Arbitrators, lawyers, mortgage brokers, specialists in lending departments, architects, surveyors, cadastral engineers can become good sources of information.
Thus, networking is a good way to build professional connections and expand your funnel.
Create the table for input data:
▪ Last name
▪ Telephone number
▪ Result of negotiations
The table should provide for the possibility of including all the information necessary for the work and making comments on the work done for each contact.
A. An example of the initial appeal to your environment:
– (Name), as you may know, I’m developing projects (known through your social network). I am in charge of the project to engage investment in apart-hotels on the Black Sea coast.
– What is the meaning of this project? – There is a huge number of large real estate objects on the market that have been put up for sale more than five or even ten years ago.
– What exactly do I do? – I find these objects, I negotiate with the owner that it is much easier and faster to implement the object if it is divided into rooms, apartments. After successful negotiations, my company enters into a contractual relationship for the implementation of this object – the hostel, the hotel, a large commercial area. We put up the object for the sale process, having previously created a business project and established business processes.
Most owners ask for an initial fee, that is why I’m looking for the investors. For the investor, I create favorable conditions with minimal investment. Everything is individual. Each owner has their own individual problem and the reason for the sale. Accordingly, completely different amounts are required for the initial fee. In addition, I am also looking for a final customer for the created residential / non-residential premises.
Get answers / get questions.
– Could you tell us (the name), who do you know who would like to invest in the real estate in the coming future?
– Do you mind if I call them?
If there are no objections, continue.
– Can you think of people from your environment who may need my services in the coming future?
B. Your initial contact with the partner (if it is a face-to-face meeting):
– (Name), at the end of the meeting, one of three events will occur:
1. You will be able to work with me;
2. You decide that you are not ready to work with me;
3. I will decide that I am not ready to take on a job with you (ultimatum)!
– Any of these three options will suit me!
Let me ask you some questions:
A. You want to earn money because you need money. Right?
We get an answer.
B. Why do you need money?
We get an answer.
Q. Are you ready to learn and constantly develop?
(After receiving three answers, we will find out the motivation for working in your team).
– Now great news. I have prepared an investment project for you (an example of a project is an anti-cafe).
– What conclusion can be drawn? The conclusion is simple: you need to find investors, buyers from the north and direct them to the south. You and I will receive financial rewards for the creation of the project, and we will also continue to manage the project.
How will it look like?
– You create a sales funnel.
With the help of social networks, with the help of “cold” calling or direct contact, you look for and find people with money, negotiate with them. After that, you give me customer contacts. I “close” the client. After the client transfers funds, you receive your commission in the amount of 30,000 rubles per 1 sq. m or 3% of the transaction amount invested in shares-tokens.
At the same time, you do not take the client around the objects, you do not show the market: foundation pits, all stages of construction, secondary buildings, plots, commercial real estate, private houses.
Be sure to enter the results of these negotiations with a potential partner in your table.
Continue to regularly work with your environment, remind yourself of yourself in various ways.
Thus, working with the database is a continuous cyclical process. Remember: prospecting will bring you a significant number of clients only if the sphere of influence is systematically and regularly worked on.
This book talks about how you can make a profit in various ways.
One of these ways is to find large real estate objects with further division into premises. It is not necessary to immediately plunge into the processes of separation. You can gradually enter projects by providing such objects to those companies that are engaged in the partition. Transferred the object – received a commission. In the process, you will gradually grow into an independent project, but first you need to find the object itself.
Now I’ll tell you about a new term that will definitely come in handy for you:
Farming (from the English farm – “farm”, farming – “cultivation”) in our project is work on your own territory. It can be territorial and/or segmental (hotels, guest houses, private houses or commercial real estate, etc.).
The advantage of this method is the fact that once you start to become known as a specialist in your area (region), it will be very difficult for other agents or the whole company to force you out of your market.
How should one properly “cultivate”?
A. Determine the geographical boundaries of your local market and describe it.
The optimal volume is considered to be from 50 to 300 of real estate properties.
B. Define a segment.
You can choose the economy segment of the market and sell large real estate objects, dividing them into shares, at low prices, or take on commercial real estate and re-concept (change the concept) and sell commerce by apartment, positioning the object as a business class.
It makes no difference to you how you receive your money. Investments in real estate will always exist as long as this world exists. The most important thing is for you to choose your own market segment and work with those clients with whom you would like and know how to work. By segmenting your funnel, you will be able to identify who owns this type of property. Contact them and try to build a business relationship.
B. Thoroughly study the real estate market in your area.
Explore your area. You need to know the price level in the area in order to put your property on the market at the right price.
The right price is the price at which the property will be bought.
The ability to conduct market analytics and negotiate based on this analysis will be your competitive advantage.
G. Study the infrastructure of the area.
Social and cultural facilities are of great importance:
▪ Hospitals and polyclinics (for children and adults)
▪ Kindergartens and schools
▪ Fitness clubs and swimming pools
▪ Stadiums, sports facilities
▪ Restaurants and shops
▪ Car services and parking
▪ Beauty salons, children’s centers, as well as other infrastructure facilities of the district
Check out the Community Forum.
D. Explore the territory relative to the object within a radius of approximately 15—20 minutes on foot, as well as by car and always by public transport. Find out the features of transport accessibility.
E. Work on the “farm” systematically, build relationships.
Connect different channels for obtaining information, make contacts. Farming efficiency secret:
Thoroughly study your territory, actively maintain and develop contacts. Let everyone know that you are the best specialist in your area!