Question: how fast do you pivot on price when you list a property?

Sometimes we get it right, and sometimes even the best of us get it wrong. When we get it wrong and don’t pivot quickly, we risk missing the opportunity to sell the property for top dollar.

So, how fast do you pivot? Do you wait two weeks, three weeks, a month, two months? Are you setting that expectation upfront with the seller?

Here’s a study from ShowingTime. They’re integrated with many MLSs across the country and help schedule showings. Because of that, they have their finger on the pulse of showing activity.

Their study, based on tens of thousands of showings, shows that after the first five days, showings plummet on most listings.

Why? Because when a listing hits the market, all eyes are on it. Most buyers—probably 95% to 99%—are set up on portals like Realtor.com, Zillow, or your website. When that listing hits the MLS, the entire backlog of active buyers sees it almost immediately.

Hundreds of buyers look...

What is push-button recruiting?

If you're an office leader or team leader, you might be tempted to say, “I want to recruit, but I don't want to spend the time doing it. I just want to plug into a system—a CRM, AI platform, or some kind of tech—that will do the work for me. It’ll send emails, send texts, and every day it’ll do the job automatically.”

Then, like magic, people will just start calling, wanting to work for you.

Well, I wish that were true. That would be nice.

Another version of this is hiring virtual assistants overseas to make a thousand calls a day.

I'm going to tell you something you might not want to hear:

These systems, by and large, do not work.

On the rare occasion they do set an appointment, it’s usually with the lowest-hanging fruit—the kind of agent you don’t want anyway. These are people who’ve changed companies five times in a year.

Why doesn’t it work?

Because it’s not personalized recruiting.

Imagine you’re on the other end. If you're getting a gener...

If you're a brokerage owner or team leader, I want to talk to you about something that's kind of outside the box—and that is what we call “adoption rates.”

What's adoption? Adoption means you bring in technology, a system, a tool, or maybe a training program into the company, and you watch as only 20% of the people utilize it—and 80% do not.

That's the rule of thumb: The 80/20 rule.

So you start to wonder why the heck you would bring anything into this company? You feel tempted to cut everything: the technology they’re not using, the training, the mentorship program—this, that, and the other.

Well, remember there's also an 80/20 rule in production too:

20% of the people are doing 80% of the production.

So when you cut these things, you might actually be hurting the people who are supporting the company the most.

But I want you to rethink the 80/20 rule for a second.

When we measure whether we should cut, keep, or add something to the company, don’t just look at whether people a...

Hey guys, have you ever heard the phrase “a high tide floats all boats?” You probably have.

This concept applies to pricing. In a strong market—like we saw during the COVID years—if you priced a home slightly wrong, it didn’t really matter. The market was so hot that it would cover your mistakes. Even if you were off by 4% or 5%, prices were rising 10%, 15%, even 20% annually.

But that’s not the case today.

Today, we’re in a completely different market. There’s an imbalance: about 500,000 more home sellers than buyers. Prices are flat or even declining in many areas. Zillow and Redfin are both predicting price drops this year—the first in several years.

What’s driving this shift? Interest rates. Once rates come back down and buyers re-enter the market, things will likely shift again. But for now, we're stagnant—or even declining—on price.

So, when you're sitting down with sellers, the pricing conversation becomes crucial. We're no longer in a "high tide" market. In fact, the tide ...

If you're a broker, owner, or manager, here’s a key question for you:

Are you benchmarking your agents?

What do we mean by benchmarking? It means drawing a line in the sand—looking at what an agent has done over the past 12 months and what they want to accomplish in the next 12 months.

We call this Per Agent Productivity.

Start by measuring your entire office: What is your average per agent productivity?

Let’s say the average agent in your office is closing 6 transactions per year and doing $3 million in production. Once you know that number, and you must know that number, you can set a growth goal.

Now, based on that, figure out how you can push the envelope and go from 6 to 7, 8, 9, even 10 transactions per agent? What’s it going to take to make that happen?

It comes down to two things: recruiting and retention.

From a recruiting standpoint, your goal should be to help new agents outperform where they came from. This is another layer of benchmarking.

When an experienced agen...

As a brokerage owner or leader of a real estate company, you probably remind your agents every week that the best way to grow their business is by engaging their Sphere of Influence (SOI) and consistently asking for referrals.

But are we holding ourselves to the same standard?

We should be asking our own agents for referrals and recommendations about who we should be talking to in the marketplace.

Questions to ask regularly:

1. “Who are the top agents you’ve worked with in the last six months that would be a good fit here?”
2. “In that last transaction, how did Bob do? Would he be a good fit for our company?”
3. “Is there anyone I shouldn’t talk to—any red flags in the marketplace?”

By engaging agents consistently and requesting their generosity, they start to understand the importance of referrals—just like our clients do when we ask.

Agents aren’t conditioned to send referrals unless we ask. The best time to ask is right after you’ve helped them like after:

• Solving a problem
• H
...

Let me tell you the number one mistake rookie recruiters make when they're first released into the field. They've just been given the job of becoming a recruiter, and they think, “Okay, I better get out there and start making things happen.”

So they go to a REALTOR event—could be an MLS meeting, a board meeting, maybe a training or education event—and they jump into full-on “mayor mode.” They’re shaking hands, kissing babies, acting like the VP, president, or CEO. They’re working the room.

And then they make the classic rookie error:

They start trying to recruit in public.

Professional, high-level recruiters never recruit in public. Ever.

We build relationships in public. But we always recruit in private.

Why? Because if you’re seen recruiting openly at a public event, people will run from you. They’ll think, “I need to get away from this person before anyone sees me talking to them.”

Nobody wants to be seen as the agent who’s being recruited, and you don’t want to be the recrui...

Is it a buyer's market or a seller's market in real estate today?

If we look at the nation as a whole, we have about four and a half months of inventory. What does that mean? It means if every REALTOR stopped taking listings tomorrow, it would take about four and a half months to sell off the current inventory at the current sales pace.

Is that healthy? Is that where we want to be? Generally, a balanced market has about six months of inventory. So being slightly under that means sellers still have a bit more power overall. When a seller prices their home correctly and it's in good condition, they can still get plenty of showings and, in some cases, multiple offers — even in today's market.

This is also why home prices continue to rise, despite higher-than-normal interest rates and an economy that appears to be nearing a recession.

The limited supply keeps pushing prices up.

However, it's crucial to understand that real estate isn't just one giant national market. Real estate, like...

If you're a brokerage owner or team leader, I’ve got a question for you:

What drives market share? When you look at a ranking report of your company or team against others in your market, what drives that market share higher?

If you want to go from 1% to 2% or from 5% to 10%, the number one driver is your ability to recruit experienced agents. Here’s why: As you recruit these agents, their production gets added to your team’s numbers, and your market share will rise.

But what we often forget is that when you pull an agent from Company A to your company, Company A's market share goes down, and yours goes up. So, you get a double whammy—Company A goes down by 1%, and your company goes up by 1%. That means the spread grows by 2%.

By focusing on recruiting experienced agents, you grow your market share that much faster.

If you want a path to start doing this and dive into recruiting experienced agents, head over to our website at eRealEstateCoach.com. Check out the new webinar I creat...

As a brokerage owner or team leader, you have a tech stack, right? We all have a tech stack of some kind, the technology we provide to our agents and teams to help them operate effectively in the local market.

But here's the question: Are you eating your own dog food? Do you know how to use your tech stack from top to bottom, inside and out? More importantly, are you using it every single day? Are you fully engaged with all the bells and whistles so that your agents see you actively using it?

When your team sees you texting out of it, video texting, using it for social media, and running drip campaigns—fully immersed in the CRM—they take notice. They follow the leader. If you're not leading from the front, why would they adopt it?

If you find yourself not fully understanding your own tech stack, it's time to dive in. Use it daily, attend all the training, explore the help sections, and go through all the tutorials. Learn it because you likely invested tens of thousands of dollars in...