I wanna give you two questions you should ask every buyer to test whether they're actually ready and willing to move forward in the process.
Your time is your most valuable asset. You don't wanna be spending it with people that are not ready to pull the trigger. So one question you can ask is this:
“Hey, you know what? The way I work is very low key. I never wanna pressure anyone. But I do have a quick question for you: If we find you the right house, the one that really clicks all the boxes for you, is there anything holding you back from moving forward?”
Now, that's a great kind of pre-close question that you can ask in advance before you go out and start looking at homes.
And here's another one:
“One question I ask everybody I start working with before we start looking at homes is, what's your biggest hesitation? What's your biggest fear about this home buying process? I wanna make sure I...
Hey guys, what if I told you that today may be a better time to sell your home than even last year when rates were 4%?
Let me give you the data (and a script you can use):
“According to the National Association of REALTORS, home prices are now only $4,000 away from their all time high last June, and we are at 11% less inventory than we were at that time.
The other great thing that is happening in this market is that sellers are now back to getting 100% of our asking price on average in our market. And get this: 37% of sellers are selling for over full price.
So this is a market that is a great market for sellers in most price bands. If you're thinking about selling, I'd love to chat with you. I'd love to have you send me a text or a quick call.
Let's talk about what it might look like for you to put your home on the market.”
That's the script I want you to use. That's the script I want you to put out because...
In a study of 10,000 sales calls, two different scripts were tested to set appointments with sales professionals.
I'll share those scripts with you, and I want you to think about which one you believe was more effective.
Script one: "I'd love to talk to you about a game-changing idea I just came across."
Script two: "I'd love to get your opinion on something."
Now, which script do you think had a higher success rate? Well, script two, where we asked for their opinion, outperformed the other script by a staggering 700%.
People love giving their opinion. It's irresistible. We see it on social media all the time. So when we use this language in our sales approach, it engages and opens up the conversation.
Try incorporating it when selling homes, talking to buyers, or engaging with sellers.
For example, ask Mr. and Mrs. Buyer, "I've found a few homes that could be a good fit. Can you tell me your opinion? Which...
Guys, 60,000 agents have already left the industry, and another two to 300,000 are projected to follow.
But here's why it's good news for us as REALTORS:
Each departing agent likely had one or more transactions last year. As they leave, those opportunities come back into play, and we have the chance to handle them as real estate professionals. So we can expect to get busier with each agent's exit.
However, there's an even bigger opportunity that most agents are overlooking:
Every agent who leaves the industry leaves behind a sphere of influence, a network of family and friends who may have some influence that we can tap into.
Here's what you can do:
Reach out to these exiting agents and express your condolences about their departure. Then ask them a quick question: Would they be interested in monetizing their hard work by earning referral fees? Since their license is still active, they can leave it hanging and...
Hey guys, when you meet someone new, whether it's at a party or a function, one of the first questions they ask is, "What do you do for a living?"
Our default response as REALTORS might be, "I'm a REALTOR."
But that's boring and generic. Everyone knows multiple REALTORS.
We need to rethink how we present ourselves and craft a unified message that leaves a lasting impression. We need to occupy a unique space in the minds of potential clients.
Imagine the brain as a whiteboard with "REALTOR" already written several times. It's meaningless and makes us seem like just another commodity. We must find a new space to occupy.
Here are some examples:
1. "I specialize in riverfront and rural properties in southern Oregon. With 30 years of experience in this market, it's my passion."
2. "I focus on helping people buy homes in the highly desirable Summerfield area."
3. "As a relocation specialist with John L. Sky Realty, I...
Guys, you've probably heard about the class-action lawsuits targeting realtor organizations, MLS groups, and large franchises.
The plaintiffs claim that they were unaware they were paying both their own fees and the buyer's fees. The lawsuits aim to either eliminate seller-paid brokerage fees or ensure transparent disclosure of these fees. While similar lawsuits have been filed in the past, these recent cases are gaining traction, resulting in settlements.
For instance, a New England MLS paid a 3 million settlement to resolve the issue.
This poses a significant challenge to our industry's business model, which has operated on the basis of sellers covering the REALTOR fees for decades. We may face a future where we have to approach buyers and inform them that they must pay their fees at closing and make a choice regarding representation. If they want me to represent them, we'll have a conversation, sign a document,...
I just received fantastic advice from the head of development at ChatGPT:
When using ChatGPT to generate content, many of us have fallen into the habit of simply asking it to write the article, blog post, or content for us. However, sometimes the output can sound too artificial, like it was clearly written by AI.
So, how can we improve it and make it sound more like us? The answer is to shift our approach. Instead of saying, "Write the article for me," we should say, "Help me write an article about this topic."
Using the word "help" triggers the system to prompt us with questions about the article we want to write.
This interactive exchange of answering and asking questions helps refine the article and shape it more in our own voice, based on the specific topics we want to address.
By following this approach, our writing will improve significantly, becoming more authentic and personalized.
So, make sure to utilize...
Hey guys, I have a quick tip regarding Instagram's algorithm:
There have been some recent changes, and it's important to stay updated. Here are the key changes:
Firstly, they no longer recommend using 8 to 15 hashtags like we used to. Instead, focus on using 3 to 5 hashtags. However, the emphasis now is on creating better descriptions and captions. It's preferred to include the tags within the captions. So, start writing more compelling captions, and there are helpful technologies like ChatGPT that can assist in creating SEO-friendly captions.
Another important aspect is video content. Instagram prefers that you edit videos within the Instagram app itself, rather than using third-party apps and bringing them into Instagram. For instance, avoid creating a video on TikTok and directly transferring it to Instagram. Instagram sees TikTok as a direct competitor, so keep that in mind when producing video content.
If we look at the engine of your business, it's your sphere of influence.
Statistically, for every 10 people in your sphere, you'll average one closed sale.
But that's only if you stay in touch with them 20 to 50 times a year and have a good relationship with them. So let's go back to January 1st. Do you know how many people were in your sphere at that time?
If you don't, you don't have control of your business.
Now, fast forward to today. Have you grown your sphere of influence in the past six months? If not, your business may not be growing and could even be shrinking due to market challenges.
We can't escape market conditions by focusing on other things and neglecting our sphere. The key to changing your business's trajectory is to quickly increase your sphere of influence. You may be wondering how to do that. Well, here's a magic number to keep in mind:
The average American has 27 conversations a day. As REALTORS, we should...
Can you relate to this?
You meet someone at a party or an event, and you have an amazing conversation. You really connect and feel like you could become friends. But then they disappear, and you never hear from them again.
As REALTORS, we often miss the chance to expand our spheres of influence and grow our business by nurturing these relationships. Plus, we could gain some friends along the way.
But here's the secret sauce: The Ford Plus One technique.
You might be familiar with the Ford technique, which stands for Family, Occupation, Recreation, and Dreams and goals. Whenever you're talking to someone and struggling to keep the conversation flowing, think about these topics.
Ask about their family, their occupation, what they enjoy doing for fun, and their dreams and goals. But as good as that is, I want to add a plus one to this technique.
I want to find a way to add value to the conversation even after it...
Jim would like to talk to you about your real estate business with a complimentary 30 minute coaching session.
During the call be prepared to discuss - Your goals for the next twelve months. Your time management and priority management strategies. Your willingness to change and adapt to a changing market landscape, and your biggest choke points - what's really holding you back
The road to transformation starts with small steps. Take your first towards a better real estate business today...