Mail-Right Podcast Episode 257 with Special Guest Los Angeles Broker Peter Lorimer
Mail-Right Podcast Episode 257 where hosts Robert and Jonathon discuss All Things Tech With Leading Los Angeles Broker Peter Lorimer. Peter Lorimer is a highly awarded real estate broker in the Los Angeles area, starting his career in 2005 with Keller Williams Realty. He began his career with Keller Williams by becoming the rookie agent of the year and following that with a 3-year back to back to back run of being the #1 agent in his brokerage. In 2009, he earned the prestigious #1 top producing Keller Williams agent for the entire LA region and, finally, in 2010, stated his brokerage PLG Estates based in Beverly Hills.
Effects of Covid-19 Pandemic on Real Estate
Like most other industries, Covid-19 has impacted the real estate industry, especially in the way buyers behave. During March, the number of sales for Peter’s business also dropped significantly. However, after the initial impact of the pandemic, his team was able to experience some of his busiest months in April through August. The amount of movement for properties was similar to what he experienced in 2005.
Starting PLG Estates
After establishing a lot of success within the Keller Williams system, Peter wanted to develop his brand with his vision of real estate. He hated everything corporate and doctrine-based systems and wanted to set something up for himself. For him, real estate is full of different flavors, and there isn’t just one way to do it. His process is unique for himself, and he’s found success in it, but it doesn’t mean that his system will work for everyone. He wasn’t worried about his business failing when he started it as he knew he could always go back to Keller Williams. After ten years, though, he never had to look around as the company now has over 200 agents. His story is an excellent inspiration for those looking to branch out and build their own real estate business.
Working Your Network
Peter is one of the biggest proponents of using your network to build your real estate business. His marketing training focuses on maximizing the people you know, accounting for almost 86% of his deals. He puts less priority on online leads and invests most of his time working within his circle of influence. He also trains his agents not to be generic and be authentic to the people they market to. He understands the importance of digital marketing and social media, but you need to prioritize your efforts within your network and build success from there first.
Social Media and Digital Tools
The biggest platforms that Peter suggests realtors use are Facebook and Instagram, especially in the LA area. People will generally look you up on Instagram, and if they like what you have posted there, the more likely they are to check out your website and what you’re about. As for tools that Peter uses, his stack includes Real Scout, HomeSpotter, Spacio, Hootsuite, Iconosquare, and Luma Touch. He uses these tools in various ways, and I highly recommend you listen to the podcast for Peter’s take on each of these tools.
