Have you ever heard of Dave Ramsey? A lot of us have heard of Dave Ramsey but he is someone that wasn't super popular like five years ago. But over the last few years, boy, he's really taken a leadership position even within the real estate industry.
So who's Dave Ramsey? Dave Ramsey is a financial author, consultant, and coach. He has a podcast and hosts a radio program, which is highly syndicated across the country in many different media outlets.
What Dave Ramsey is doing is interesting. Because a lot of people don't know that he's now earning upwards of $40 million a year just in real estate referrals.
What he's doing is he positions himself as someone that's the expert. And then people come and say, hey, who does Dave Ramsey trust in each of the markets to list my home? He then collects a referral fee by referring agents to his audiences.
What a brilliant idea.
But what's really interesting about this when we take a hard look at this is what Dave has done.
Dave has created something with his audience, which we all want to create. We don't want to be waiting for referrals from Dave Ramsey or anyone else.
Instead, we want to be the one that people look at as the expert. We want to be the Dave Ramsey's of our individual markets.
So what Dave has done is he's created a position of authority and trust — two key elements that we need to have within our own real estate Spheres of Influence within our own communities.
Now, how do you do that?
Well, one way you can do that is by knowing your numbers and then communicating those numbers to the marketplace.
I'm gonna give you three things that you may not be doing enough of right now in your own markets.
1. Being visible on social media.
Visibility is more important than ability.
We all have agents in our community that kind of suck, and they're not great agents, but they're crushing it because they're highly visible on social media.
Visibility is more important than ability.
We also have some great agents, maybe you, lots of designations, highly ethical, great agents who do amazing raving fan level service, but they're not doing really well in the market. And the reason is because they're not visible on social media.
So get out there and be visible! And then you're going to communicate some good information about the markets so you establish authority and trust.
2. A regular email to your entire database.
How many of us have been doing a regular email throughout 2021 every month or every week where you're communicating market numbers and stats, and engaging that level of authority and trust with your database? But it's super important.
3. Good, old fashioned pieces of mail.
Something that people get in the mailbox that again, talks about market stats and actually positions you as the preeminent expert in your market.
Now, what are the numbers you should be communicating in these three formats?
I'm going to give you the numbers you should know cold and your market. And good news: They're delivered to you from your MLS every single month.
Every single month on a certain a day, they're going to come out in your market. For me, it's around the 10th of every month where I get this data.
When you get this data, here's what you're looking for:
* Average days on market in your market area.
In my market, the median market time is four days, but the average market has 14 days.
* Average sales price in your market.
* The list to sales price difference.
In my market, it's now at 100%. People are getting a 100% of what they're asking. Some of you may be at 104%. But know that number.
And last is...
* Rates of appreciation
How fast is the appreciation rate happening in your community? Is at 14% a year, 15% a year?
You can go deeper on that and go to hyper-local and drill down into specific communities as well, which is even more powerful.
But take a look at that. Become the Dave Ramsey of your market by having those three channels that you may not be doing enough of — social media, emails, and physical mail — to your database and show off those numbers. Take that authority position and that position of trust with your community.
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