S.E.C. Real Estate Observer

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Editor’s Note: This article first appeared in the February 1972 issue of the Real Estate News Observer.

SESSION 1 — “HOW TO GET CLIENTS” It really didn’t come as a surprise when I found one of our brokers lying on my couch staring at the ceiling and muttering, “But how do I get the clients to come to me?” This man had just recently thrown away his tin cup and was embarking in the exchange field. Needless to say, contact knowledge is quite slim, and much is needed in the field of image building to get into the stream of clients moving your way.

FIRST, PREPARE A BROCHURE. This brochure should be well done—with first-class printing on choice stock and written in a professional tone. The contents of the brochure should explain how your real estate practice is different from that of others engaged in the real estate field. It should also explain your philosophy of doing business. Following is such philosophy as I have had printed in my own brochure:

OUR PHILOSOPHY. The basic philosophy of Walker & Company, Professional Real Estate Service, might be somewhat different from that of other practitioners in the Real Estate Industry.

Our basic plan is to spend as much time as needed conferring and counseling with the client to ascertain any problems that might need solving and to determine which benefits the client feels he needs. Real estate ownership should serve the best interest of the client, depending on his circumstances and needs in life.

In most cases, we insist on conferring with your tax counselor to best protect your interest in the case of a purchase, sale, or exchange. The specialists at Walker & Company have secured additional training in the fields of both law and taxation, but this is only for their use in working with the client’s own legal advisor and tax counselor. Under no circumstances shall we engage in giving advice in the fields of law and taxation. We feel that, for the client’s best interest, it takes all three—the attorney, the tax counselor, and the professional real estate practitioner.

We are not interested in securing great numbers of clients but only those clients we feel we can help. We solve your problems before accepting additional clients. Our main purpose is to serve the client to whom we owe our best efforts and highest fiduciary fidelity.

Also included in the brochure might be your picture and an explanation of your background, your activities, your achievements, etc. You might wish to make up a list of questions that the reader of the brochure might ask himself. Following are ten questions that might be used if you are primarily interested in income property:

TEN QUESTIONS EVERY INCOME PROPERTY OWNER SHOULD ASK HIMSELF:

1. Is your depreciation basis low?
2. Do you feel you should have more cash flow on your investment?
3. Would you be interested in pyramiding your equities?
4. Did you pay too much income tax this year?
5. Are you tired of rental management?
6. Will the new apartments being built in Boise affect the rental market?
7. Would you consider exchanging your equities into something you feel would better serve your interests?
8. Would you consider converting your equity into secured paper if your net income were as large as your present net return on your property?
9. Have you deferred some items of maintenance on your property?
10. Would you be interested in securing a professional analysis of your property with regard to comparative rental income, expense analysis, return on investment, and suggestions for enhancing present rental income?

WHO TO SEND IT TO:
Property Owners—Go to the courthouse and get names from the records of all C-2, R-3, and L.O. zoned properties of your liking.

Set up a mailing list. This mailing list will become most valuable to you in the months ahead. Also send brochures to the CPAs, lawyers, and whoever you might consider investors in your community, whether it be the country club list or the executive club of your community, etc.
Now you have zeroed in on the community in creating an image of your desire for:

A. Property Owners
B. Attorneys
C. CPAs
D. Investors

Wake up, my friend, out of the séance. Your game plan has been made. Now go to work.