The Greatest Real Estate Broker I Ever Met

[Don Konipol]

47 years ago I obtained by Texas real estate broker license, and went to work in a commercial real estate brokerage.  Like most new agents, I thought success would come by building my “ROLODEX” of investors (buyers), obtaining as many listings as I could by chasing listing “leads”, and trying to “service” the buyers and sellers I represented.  In my first 18 months  my results were mediocre, at best.

Then I caught one of the greatest “breaks” of my business life.  Our offices in the brokerage were set up for 2 people, and the other broker in my office had just quit.  A new broker had just transferred in from California, and he was given the desk in my office.  We became quick friends, and after observing the way he worked over the next12 months I was able to lift myself from “mediocre” to top producer increasing my income by a factor of 20 times!

What Ron did was that he ONLY worked on “great” deals.  He didn’t bother working as a buyers agent finding deals that fit any particular buyers requirements, and he didn’t spend his time marketing properties where the seller wanted market price.  He spent his time it identifying those properties for sale that were priced WAY under market, or had an unrecognized value that made them worth a lot more than asking price.  (This was all a lot easier to do before information became so readily available on line).  

He would then meet with the seller/owner, and talk to the owner to obtain the LOWEST acceptable price the owner would consider.  He would then obtain a limited non exclusive listing agreement for a short period of time.  He’d then work on;y with buyers whose criteria was to buy “great” deals; who had cash ready or financing easily lined up, and who we’d motivate to move fast.  Ron closed more big deals than everyone else combined.  Btw, while the rest of us were charging 6% commission, Ron charged 10% - or more!