Third Day - 9/25/2006

I drove around the three zip codes on Friday and have decided to focus on the 63109 zip code. The area encompasses over 1000 multi-unit properties, the majority of which are 4 family (720) but that also includes numerous larger properties. This area will allow me to become experienced listing and selling some 4 family units while also allowing scalability to large units as my experience increases. The area includes all or parts of 5 neighborhoods and has local business associations, housing corporations and local groups, all of which will provide an excellent opportunity to network and get to know the area.

Todd and I identified properties both for sale and for rent in Sunday’s paper and called for more information. It was interesting to listen to his pace of conversation and line of questioning that ultimately leads him to a meeting, listing, information or whatever he determined was the purpose of the call.

I need to create or find a database program that allows me to list and group contacts. Todd suggests listing the contacts by phone number so that before I call, I search for the number and find out if I have contacted them previously if they have had previous property listings etc. Phone number is ideal because in the paper the name is not always included and can be hard to obtain.

Another tool that will be extremely valuable when I cold call will be a tracking system. The calling process has been described by many as a slot machine. Every time you “pull the lever” you have a change to “win.” When you pull the lever and don’t “win” and you know that for every 10 calls you make you will get 5 appointments, then every “non-win” is simply one call closer to the “win”