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BONI LONNSBURRY: Where would you say most of your business comes from?

MARK SPAIN: Most of our business is referral, it is past clients or other associates in the business -whether it be other real estate agents selling their homes, or lenders. Our newest strategy is mass marketing campaigns.

BONI: How did you get started in the real estate business Mark?

MARK: I grew up with it. I am a second generation Realtor - my Dad was in the business for 20 years. I graduated from University of Georgia in 1993. From there I began building houses and then realized I didn't want to do that for the rest of my life. My knack was in sales, so I started selling. I went to work onsite for a large major builder in the southeast.

BONI: What mistakes do you see rookies making in this business?

MARK: I think the biggest mistake is thinking that this is an easy business. Some people get into it thinking they can get rich quick. Most people don't treat it as a business. This is a business like any other business - we just happen to be in the real estate business. You have to be willing to invest money. One of the reasons that so many people end up exiting the business is that they don't begin with enough operating capital. You need about six months worth of income to get yourself started. Plus you need additional capital to market yourself.

BONI: What advice would you give them as far as marketing? Somebody that is brand new probably doesn't have a very big sphere of influence.

MARK: I would advise them to go with a little advertising company that could set them up with some type of campaign. Another thing I think that is really good for somebody who is a complete rookie in the business is to start out as an assistant.

People contact me every month asking me what to do. They get their license and they are not sure how to begin. One option is to start onsite with a builder, where you are in a controlled environment and where you can learn from other people. Another way to get started would be to start as an assistant or a buyer's agent. Work with a top producer... whether it's for one, two, three years - you'll get a paid education. If someone is willing to do that, it's more likely they'll stay in the business. Statistically we have a huge exit every year - beginners who come and go quick. It is getting more and more competitive - the top few people are doing more and more of the volume.

BONI: Do you think veteran agents make the same mistakes as rookies, expecting it to be too easy?

MARK: Some do. Others resist technology. We get listings that other people don't get because we have embraced technology and we are willing to use that as an advantage. Using email effectively and marketing with your website can truly give you the advantage. We have three primary websites: One is www.markspain.com, another is www.spainteam.com and the third is www.homesofgreateratlanta.com. My dad, Terry Spain, is my web master. He understands the Internet, web pages and understands Internet marketing.

BONI: Mark, if you had a son or daughter entering this business, what advice would you give them?

MARK: I happen to have a daughter who is a freshman in college - she is not sure what she is going to do at this point, and I wouldn't want to push her one way or the other. But if she did decide to go into this business I'd give her the same advice as the rookies - learn the business from the ground up. My best experience was when I was working with a builder onsite - they brought in trainers and I learned from all of the other veteran sales people there.

BONI: How do you generate so many referrals?

MARK: Everyone on our team is really customer focused. We try and hire them that way from the beginning. We have the attitude that the customer is right, even though sometimes they're not. We try to understand that buying and selling a house is one of the most emotional, stressful experiences a person will ever go through.

We try to have a handholding approach - we really walk the people through the process of buying a home. And we do a good enough job that we do receive referrals. In the past we've made the mistake of not staying in touch, but now we try very hard to stay in contact with them on a regular basis: to say #1, don't forget us, and #2, if they need anything - we're here to help them.

BONI: What is your marketing strategy?

MARK: We try to send something to them, be it a letter, postcard, or personal brochure, 4-6 times a year. Unfortunately people will only remember what is in front of them, and they forget you quickly. If you're not in front of their face they are going to do business with somebody else.

BONI: Is your strategy for marketing to prospects a little bit different?

MARK: It is different. We have tried farm marketing in the past and our biggest mistake was not being patient enough. We send out 15-20,000 postcards and expect the phone to ring off the hook. It just doesn't work that way. Right now we send out 20,000 postcards or pieces of mail a month. It is working, it has been about 6 months, and our response is great! But it is just a patience game.

BONI: What was your most successful marketing campaign?

MARK: Probably targeting neighborhoods that we have done business in before. Once we go into a neighborhood and start farming (mass mailing), will get a listing here, and then another listing there, and it just kind of snowballs. I call it "picking off the neighborhood". I feel that when we can get close to a 50 percent market share, in our business as fragmented as it is, that's awesome! Once we pick off a neighborhood, we typically sell about 93-95 percent of every single thing that we list. Which is a high percentage!

BONI: It is. How do you have such a high conversion rate?

MARK: You tell the customer the truth. You don't try to overprice a house or try to under price it. You try to price it according to the market conditions and the way things are selling in the area, or that community. Unfortunately most people tend to overprice things.

BONI: And then their customer is not happy.

MARK: No, they are not happy. I couldn't say how many times we go into a listing that has either expired or the people were aggravated and withdrew it. And we asked them, "How did you come up with the price?" And they tell me, "Well that is what the other agent told me to list at - we thought it was kind of high ourselves, but that is what they told us." I am not sure why that happens, but our philosophy is, always tell them the truth. They might not like what we tell them, but it will always be the truth.

BONI: Mark who or what was the biggest contributor to your success?

MARK: First, I had incredible parenting. Both of my parents are incredible and are still an active part of my life, as well as my family's life. My dad is one of my best friends and a true mentor. He is a super intelligent person and always on the technological edge. He is like my personal coach! The second contributor would be my thirst for knowledge. I have read self-help books by authors like Anthony Robbins and Zig Ziegler ever since I was in high school. I have always been interested in success and have tried to model other successful people. I befriend them, take them to lunch, etc. There have been different people in my life who have been mentors for me. Successful people like to help other people. But you have got to have honesty, integrity and do business the right way. They want to help people like that.

BONI: Mark, what are your goals now?

MARK: We continually want to grow our business, to build on the Mark Spain brand name. We have a goal to grow our business 20 percent per year, which is pretty tough. Last year with the down market we grew right at about 15 percent, which, in a down market is huge! But we also want to have fun and enjoy ourselves in the process. Yes, it's important to make the business grow, but the main thing is to have fun and enjoy life! I haven't always had that philosophy. In the past I've been in a workaholic type and never satisfied. I would work 70 hours a week. But with those kinds of hours you miss out on a lot of things.

BONI: Mark is there anything else you would like to share with others who aspire to have the kind of success that you've created?

MARK: I would suggest never stop learning; always educate yourself and get as much training under your belt as you can. Our business is very systemized and we try to automate as much as we can. One of our favorite authors is Michael Gerber. We have modeled our business after his book, "The E-Myth". Knowledge is power. No one can ever take that away from you.

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A resource you should know about: ____________________________________________

71% of Real Estate transactions are generated from repeat and referral business.* Are you keeping in touch with your past clients? Mark said it, "...people will only remember what is in front of them, and they forget you quickly. If you're not in front of their face they are going to do business with somebody else." Let us help keep your clients returning and referring with a postcard or newsletter sent out automatically on your chosen schedule. *According to the National Association of Realtors

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