As part of the influenSPHERE (iS) blog roll, I will be sharing Business Development, Networking and Relationship Tips from the perspectives of Respected Business Professionals.
Featured Professional Profile ~ Joel Wright of Wright Real Estate
A few weeks ago, I had the pleasure of sitting down with Joel Wright of Wright Real Estate. We met a few months ago at a local chamber event and he had commented to me that he had just begun to attend chamber events again. Although I met more than a handful of business professionals at the chamber that evening, my conversation with him seemed to resonate. We had been talking about business relationships. After exchanging notes in the mail and various phone calls we set up an initial meeting to get to know each other and our respective businesses better.
I knew after that initial meeting that Joel would be perfect for my first Featured Professional Profile.
influenSPHERE: So Joel, Tell me what it is that you do.
Joel Wright: I help people buy and sell distressed property. For the seller it’s working with them in the short sale and consult with them first using consulting to see what they need to do and second to help them move forward if it is something related to selling realty. For the buyer, it’s helping people get into their first homes and our specialty is the investment property. Analyze and assess quality properties in the market.
iS:How long have you been doing this?
JW: Since 2000
What do you love about it?
JW: It’s different every day. Like the quote from Apocalypse Now “I Love the Smell of Napalm in the Morning.”
iS: Sounds like fun! Who is your ideal client?
JW:My specialty is the investor although I do help the first time buyer find a good investment. They don’t want to buy at the top of the market but they want to buy something they can get into at a good price and be happy in. My ideal client is a newer investor, a professional looking for property for cash flow, equity position in a good area. They respect other professionals, and they are looking to buy 3 or 4 properties.
iS: How do you find those clients?
JW: That is the question of the hour and the year. The way I find most of my clients, about 85% of my clients are by referral. So, it is predominately through networking two ways 1. On a broad scale through the majority of the people I know and through 2.Target Trades, people in a specific profession that see my same clients before I do, like attorneys, lenders, CPAs, financial planners, etc.
iS: With the people you know, how do you determine your niche or influenSPHERE within that broad scale?
JW: Sometimes you don’t know who those people are, unless you track where your leads are coming from. You could have a client or a friend or someone who has referred you 25 times and just nobody’s called you. Sometimes they don’t know how to refer well.
iS: How do you coach them?
JW: I am still working on it. I try to practice it in my own profession first. One of the things that I found works really well, is when I give a referral, I call both parties to let them know that I am referring them, or that they have been referred. I might say to them, “The reason that I’m referring you to this person is because I know they are going to give you top notch information regardless of whether you ever become a client or not.” This really puts them at ease. I really refer for informational purposes, not business purposes.
It is really about consultative selling. Are you acting as a professional or are you acting as an order taker? My pet peeve is when someone sell’s without thinking about the client’s best interest. My friend Mon Hart gives a two day seminar all about consultative selling. It is great.Read More