Tuesday, September 05, 2006

The Parlay Effect

Great post yesterday on the HouseValues Mastermind Forum, this focused on the fact that one prospect can often lead to several transactions from that initial contact's sphere of influence.

Read on:

I have not seen this addressed on the forum before, I refer to it as The Parlay Effect.

I received my first HouseValues lead that has led to a listing about 1 month ago. I closed on it last week, the price was $125,000. While the sign was up I got a sign call and those buyers made an offer on Saturday. They accepted a counter offer Monday for another $125,000. Those buyers were brought to me as a direct result of me getting the listing on the HouseValues lead. $125,000 is just about average for a home in the Oklahoma City market, all brick on a slab, 3 bed, 2 bath, 1500-1600 sq ft, built in the 1980's. My take on those two homes will be $5640 which just about covers my subscription for the year.

But that is just the first level. The wife of the buyers is a surgical nurse at the local med school hospital. In combination with my mortgage partners we are going to do a Lunch and Learn session with the nurses. They do the mortgage presentation and I do the real estate part. Any buyers from that group will also be a result of the HouseValues lead as will any referrals down the road.

Another direct result of the HouseValues lead is that the sellers were so pleased with the service that they received, they would like me to sell their other home in Tulsa. They bought a new home outside of Tulsa directly from the builder, but still need to sell the other home once they get it fixed up. I told them that although I could sell it for them, I would not be able to service it properly, but that I would find them a Tulsa Realtor to list it. For which I will receive a referral fee.

The Parlay Effect. Where does it end?