There's a fantastic book I read years ago called "Positioning" by Al Ries and Jack Trout. It delves into the concept that our brains, like a whiteboard, need a space. As marketers, our goal is to occupy that space in the consumer's mind. However, with numerous competitors in the market, the challenge is stiff.
I appreciate the idea that it's not about what we want to say; it's about what consumers want to hear and learn from us. Consider the top four things consumers seek from a realtor: finding the right home, assistance with paperwork (part of negotiation), negotiating price, and negotiating terms.
Reflect on these four aspects—finding the right home, negotiations on price and terms, and paperwork. Are we addressing these in our marketing and branding? Shift from what we want to say to what clients want to learn. This transforms marketing into something people want to pay attention to.
Now, let's consider what sellers want. The top four things a seller desires: an expert in...
Hey folks, let's talk about the big picture in real estate—how long are you planning to stay in the game? Is it a year, two, five, ten, or even twenty? Are you testing the waters with just a toe in or is this a full-blown career for you?
Many agents tend to have a myopic view, making crucial career decisions based solely on today's market conditions. Yes, sales volume is currently at a 20-year low, but assessing your entire career based on a single down year is shortsighted.
If you envision being in the business for the next 10 or 20 years, one year of reduced sales shouldn't define your career. Recessions in real estate occur every 10 to 12 years, and what follows is typically a decade-long period of rising prices and increased sales volume. It's a market reset, not the end of the road.
For those considering exiting the industry for a "real job," think about the earnings over the next decade in that new job. If you're fortunate, maybe a...
Hey folks, I came across a fascinating study—it revealed that a whopping 74% of consumers base their business decisions solely on the brand!
Now, let's shift the focus to your personal brand:
Imagine stacking it against the top 10 agents in your community—just you, not who you're working for. How do you measure up? Does your brand stand out, exuding a modern and sharp vibe, or does it seem dated, like a relic from the '90s or early 2000s?
To make a mark, focus on clean, sharp lines. Forget flashy taglines and funky logos. Your brand revolves around a clean picture and a stylized version of your name.
Remember, you're a personal brand in the real estate space, akin to the likes of Michael Jordan or LeBron James. With countless agents in the field, the key is to separate yourself by having a consistent and clean brand integrated throughout your marketing plan.
Everywhere people look—your website, digital footprint, social...
We’re facing a dilemma here:
With the impending changes in buyer representation, there's talk about some agents taking zero BAC listings—charging a fee but listing it as zero.
Now, think about it: Buyers looking at these listings may opt to go unrepresented, thinking they can handle it all. So, as a listing agent, taking these listings, the question arises:
What do you do when an unrepresented buyer wants you to facilitate the sale without the BAC?
Considering the surge of unrepresented buyers, it's time to discuss this with sellers. You may still charge your standard listing fee but need to charge a bit more for dealing with an unrepresented buyer.
Because you're essentially doing double the work for potentially half the pay.
You're handling everything from financing and inspections to appraisals and negotiations.
You've got to communicate this to sellers. Due to changes in the market, unrepresented buyers...
Hey everyone, I've got some thrilling news about a game-changing trend in the real estate industry.
Meet the "Silver Tsunami."
Get this: 51% of individuals aged 50 and above are gearing up to downsize. Brace yourselves because this wave kicks off in late 2024, gains momentum in 2025, and is expected to roll in for decades, unleashing an estimated 30 million homes onto the market.
Just to put things in perspective, we currently have around seven to eight hundred thousand homes available.
Now, imagine an additional 30 million hitting the market in the next 10, 15, or 20 years. That's a colossal opportunity!
So, the big question: are you targeting these silver tsunami sellers?
Take me, for instance. I'm 54 and just sold my home—right in the sweet spot. Many individuals like me, empty nesters whose kids have flown the coop, are looking to downsize. This demographic is about to create a flood of opportunities in our market.
Here’s a quick and easy technique when you're talking to investment property owners:
So, you're out there doing lead generation, looking for investment properties like duplexes, triplexes, or RV parks. Often, when you ask owners if they've considered selling, the answer is a flat-out no, right? Happens a lot. But here's the game-changer: ask them why they're holding onto the property.
"Why are you holding onto this property?"
Give them a moment to think, and their response might be about it being a good investment or passing it on to their kids. Respond with understanding, acknowledging the value of holding onto good investments.
Then, drop the bomb: ask if they know their current rate of return.
Offer an income analysis sheet to calculate their cap rate and return on investment.
Now, here's the kicker – if you can beat their current rate of return, would they consider moving their money to something even more profitable?...
For years, the real estate industry has been known for its conventional and traditional methods. However, the advent of Artificial Intelligence (AI) and automation technologies is revolutionizing the sector, particularly in the realm of brokerage.
AI and automation are not merely buzzwords in the real estate industry; they're transformative tools that are reshaping the sector from the ground up. This shift is being driven by AI-powered solutions that streamline operations, enhance efficiency, and deliver exceptional customer experiences. In this article, we delve into the pivotal role of AI and automation in the future of real estate brokerage.
Before we delve into the specifics of how AI is revolutionizing real estate, let's first understand what it entails. Artificial Intelligence is the ability of machines and computers to mimic human intelligence, enabling them to perform tasks that usually require human intellect. This involves pattern recognition,...
Hey everyone, what are the top reasons buyers want to hire REALTORS? What do buyers value most? Well, here are the top three reasons according to an NAR study.
The primary one, unsurprisingly, is assistance in finding the right home. It's consistently at the top.
What might catch you off guard are the next two reasons, both tied to negotiations. Second is aiding buyers in negotiating sale terms, and third is assisting with price negotiations.
Two-thirds of the top reasons revolve around negotiation.
When engaging with buyers initially, agents often overlook discussing negotiation. How can I prompt buyers to choose me, armed with this data? Well, one effective strategy is to showcase successes on social media. For instance, if I help buyers secure $10,000 in closing costs or credits from the seller, why not share that after closing? Highlight the journey—viewing 10 homes, narrowing down to two,...
Hey everyone, with the recent Sitzer Burnett lawsuit and NAR's loss, even though there are pending appeals, how should we adjust our approach to working with buyers? Waiting for the appeals isn't an option; we need to change right away.
So, what should we change? We must revamp our tactics and strategies. Today, I want to discuss a couple of key elements that should be part of your buyer presentation.
A common question from buyers is, "Why pay a buyer's agent a hefty sum to search for properties on the MLS when we can do it ourselves on platforms like Zillow or Realtor.com?"
This is a valid concern. To prove our value, we need to show that we bring a lot more to the table. In your buyer presentation, just like a listing presentation, there are crucial points to cover.
When it comes to the property search, it's not just about using the MLS. We go above and beyond. I emphasize that we leave no stone unturned. I mention that, of...