The Boiler Room

Have you ever attended a conference, or signed up for a webinar where they lured you in with the promise of teaching you something great and helpful, but it ended up being one big sales pitch?

Most have. I get annoyed pretty quickly once I realize their only mission is to get you to buy something or upsell you on something you don’t need.

Don’t get me wrong, I’m all for people and companies providing free training on something and offering their products and services along the way.

But if you pay for training, it should be mostly training. Not selling.

This just happened to a bunch of agents in my office.

There were advertisements recently for a conference for real estate agents in Boise. It promised a full day of learning about new technology and ways of serving clients better, and there was a fee to attend.

Naturally, a number of agents in my office made special arrangements to be there.

All were severely disappointed.

One agent said, “If this is what this industry is really about, then I am pretty sure this isn’t the career for me.”

From what I gathered, not only was it a big sales pitch, it was designed primarily for agents who focus on getting more leads and converting more leads, rather than building a relationship/referral business.

Have you seen The Wolf of Wall Street or The Boiler Room? It’s that kind of thing. Make money, lots of money, and it doesn’t matter how much you bug and pester your leads and clients to make more money – that kind of mentality.

This ideology is alive and rampant in the real estate industry. It always has been. A B Cs, right? Always Be Closing. Make better sales calls. Call more often. Follow proven scripts. Close, close, close.

I know many agents like this. Many are very successful.

I just don’t want them working at my firm, because as soon as you put making money above doing right by your client, you become a liability, not an asset.

Warren Buffett said it best, “If you lose money for the firm I will be understanding. If you lose reputation I will be ruthless.

Because principles matter and reputation is a far greater asset to the company than quarterly earnings.

So when I saw my agents come back from the conference saying they felt they needed to take a shower, it was just further confirmation that I’m working with the right people. We share similar principles about how we treat people and run our businesses. It’s our culture.

Last week I shared my own story of how in the beginning of my real estate career I got sucked into a world of real estate greed through a coach I hired, and then soon after, fired.

It was the moment I realized how important it was to stick to my principles, even if it means making less money, or even losing money to do the right thing. No one wants to be tricked, pestered or duped into a sale. Even if it’s an effective strategy.

Because, it’s not HOW MUCH business you do, it’s HOW you do business that counts.

Until next time, have an awesome day.

Mike and Girls with Impact ClubMike Turner

Co-Founder: Impact Club Boise
Host: Idaho Speakeasy
Collaborator: Value Drive Approach
Founder: Front Street Brokers
Author: Agent Entrepreneurs
Voice: 208-340-8399