This section is from the book "Practical Real Estate Methods For Broker, Operator & Owner", by Thirty Experts. Also available from Amazon: Practical Real Estate Methods for Broker, Operator, Owner.
Joseph P. Day
Value of Complete Information - Personality - Perseverance, Decision and Direction - Detecting Unusual Values - Closing a Contract - Showing Properties - The Auctioneer - Advertising Public Sales - Concentrated Copy - Action and Reaction - Auction Valuations
The real estate broker, as the connecting link between owner and purchaser, must rely for success primarily upon the establishment of some good system which keeps him constantly in touch with active properties and those which can be brought into the market, and also with lists of persons with money to invest in various forms of real estate. Having a piece of property to sell and a prospective purchaser in mind, he must depend, to close a sale, upon the following elements: his personality; presentation and avoidance of misstatement; perseverance in the right direction; securing a balance between what the owner will take and the buyer will give; and ability to draw up and secure the signing of a contract the instant the two minds are in agreement. These qualities are all essentials of real estate salesmanship.
In locating the prospective purchaser, the matter of decision plays a most important part, especially in saving the broker's time and money. For instance, it is not exercising proper decision to offer a big acreage tract to a man who is able to operate only in a small lot development or to offer a Broadway business property to a man whose field is restricted to operating in tenement houses. The reverse also is true; it is poor policy to offer a tenement house to a man who confines himself to big business properties. And while perseverance is generally a virtue, perseverance in trying to sell a piece of property to a man who never deals in that particular variety of investment is so much wasted effort. But perseverance properly directed toward influencing a prospective purchaser who has been chosen with proper decision is absolutely essential to success. The most successful broker is the one who can persevere the most in the direction of a purchaser to whom the proposed property offers a natural investment.