Hey guys, want to increase your referrals by 24%?

It's simple, and it comes from the American Marketing Association: When you ask for a referral and attach a reward to it, your referrals increase by 24%.

So, what rewards work best?

Cash, consumables like wine or coffee, right?

But here's the issue with consumables most people overlook:

They're forgotten once consumed.

That’s why I prefer giving experiences…

An experience sticks with you. It's memorable.

For instance, for a couple who refers a great client, I might reward them with a night out at a local restaurant. Personalize it with a note: "Enjoy this meal on me. Thanks for the referral!"

For a golfer, instead of a round of golf, a golf lesson; for a tennis player, a tennis lesson.

Or if they're into concerts, a music ticket; sports, a sporting event ticket.

These experiences are unforgettable. Find what resonates with them personally, and your referral count will skyrocket.

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Why do Brokerage Owners, Office...

Hey guys, let's talk about asking for generosity from your clients, specifically in the form of referrals.

I'm going to share two or three strategies that should feel natural to you because referrals are the number one way to generate business.

Remember, when people are going through a transaction, there's a four times greater likelihood they'll refer you because it's a natural part of the conversation.

So here's the deal: you've got to train them, you've got to coach them.

Try this scripting: "Now that you're buying or selling, I'm sure some of your friends are going to be jealous. If you run into somebody who wants to follow your lead, I'd love the opportunity to work with them." Simple, right? It doesn't sound salesy; it sounds natural.

Another approach: "Now that you're selling, I'm sure a few of your friends and family will be jealous. If they want to follow your lead, I'd appreciate your referral. I like working with people like you." It's about leveraging their network in a...

As we gear up for the bustling spring and summer real estate market, it's crucial to leverage our networks effectively.

How do we elegantly request referrals and direct business?

Enter the real estate resume strategy.

Just like crafting a resume for traditional employment, create a polished document highlighting your real estate expertise: experience, market performance, education, skills, testimonials, and office history.

Distribute this resume physically and via email to your entire database. Accompany it with a cover letter emphasizing your readiness for the busy season and encouraging recipients to share your resume with potential buyers or sellers. Keep it concise, yet professional.

This approach conveys authenticity and seriousness, distinguishing you from agents solely focused on humor or gimmicks.

By showcasing your dedication to your profession, you establish credibility and foster genuine connections. It's not just about being funny; it's about meaningful engagement. This...

Hey folks, did you know 23% of homeowners in the US are planning to sell their homes within three years?

That's a massive pool of potential listings right in your community.

How can you tap into this "shadow inventory"? Well, here's a winning strategy: a personalized letter campaign.

You're already farming neighborhoods, right? So send out letters, but make them different this time. Start with a simple question: "Hey, Mr. and Mrs. Homeowner, is this the last home you'll ever own?"

It's a magic question because regardless of age, people always think there's another move ahead.

Then, explain that some of your clients aren't keen on listing publicly but would entertain offers from qualified buyers. Offer to chat if they're in that boat. Include your contact info, and keep it straightforward.

This approach will resonate with many homeowners who aren't ready for the market but would consider a strong offer. You'll start receiving calls, so funnel them into your drip campaign. Build that...

Why do people try FSBOs instead of listing with a REALTOR?

The answer might surprise you…

A lot would assume it's all about commission, but only 40% of sellers do it for that reason. That means 60% don't!

Another interesting fact: Only 5% of people will never use a REALTOR. The othere 95% are open to it.

In fact, did you know 92% of FSBOs will end up working with a REALTOR?

The question is: Will it be you or your competitor? You need to reach out to them. There's a 4-6 week incubation period for most FSBOs. So, commit to working with them for that time.

When calling them, use this magic sentence: "I'm not calling to list your house. I respect your decision to sell on your own."

This will bring their defenses down. Then, ask to come by and take a look at their house. No pressure to list. It's about incubation and relationship-building.

If they decide to list with you, be ready for that conversation. Walk through the house, take notes, and casually ask if they might work with a...

Question:

Should you have your own podcast?

Absolutely!

It's a powerful tool to boost your influence and authority in your local market. By focusing on your niche, you become an expert and build authority over time.

Another benefit?

You can connect with influential people in your community. Create a list of top movers and shakers and invite them to be guests on your show. It's a win-win—you'll elevate your podcast's status and forge valuable connections.

Podcasting is straightforward—all you're doing is asking questions. Make it easy for your guests by providing a list of questions beforehand. Trust me, they'll love the opportunity to share their insights.

The best part?

You can repurpose your podcast content across different platforms using tools like Opus Pro and Repurpose.ai. It's seamless and helps you reach a broader audience.

As for the cost?

It's super affordable. Platforms like Buzzsprout make hosting a breeze, and services like Fiverr can help with...

Your website should be a magnet for potential clients. Think about it: when someone recommends you, the first thing others do is Google you. And if your website looks outdated, it's a turn-off. So, let's talk about how to create a standout website that dominates your market.

First, your website should reflect the lifestyle of your niche. If you're in a bustling city, showcase the urban lifestyle. If you're in a scenic area, highlight the natural beauty.

Second, make search functionality a priority. Your website should seamlessly connect to local MLS for easy property searches.

Third, make it hyperlocal. Your website should be a one-stop hub for all things community-related. Include tabs for relocation, buying, and selling. Also, keep your website dynamic by updating it regularly. Changing photos seasonally keeps it fresh and engaging.

Photos are paramount. Consider using AI tools to enhance and update them regularly.

Another must-have is a blog. Posting weekly about the local real...

When somebody hears the word “real estate” in your market, what do you think comes to mind?

For most Americans, it's instantly Zillow. They've taken over this position in consumers' minds, being the first place they go for searches and home values.

So, how do we compete against a billion-dollar company?

A lot of you have given up and said, I'm just going to start buying my leads from Zillow. Keep in mind that's a negative 32% ROI, meaning for every $10 spent, you lose $3.20.

So, how do you win against Zillow and take over “Mindshare” in your local community?

You can't do it entirely, but it'll come from getting close to your consumers and your community.

Why?

Zillow can't create relationships with specific people in specific communities. But you can… by developing relationships with your own audiences, showing expertise, and connecting with local businesses and charities. Highlight why you love your community through videos and social media.

When...

Hey, team, got two game-changing ideas for your upcoming Comparative Market Analysis (CMA). As you gear up for the next week or two, consider adding these to your arsenal.

Number one: Identify the strongest competitor and share this insight with the seller. During the CMA, explain, "Mr. and Mrs. Seller, we're diving into a CMA, much like an appraisal. Analyzing three sold properties, three active ones, and three that didn't sell. My suggested price is based on this, but I want to highlight a key competitor. This is the one we need to go head-to-head with. Buyers are likely considering these two listings, so let's be super competitive."

Number two: Distinguish between an as-is price and an improved price, especially for properties needing a bit of work. Frame it this way, "Like an appraisal, we can provide an as-is or an improved price. If we list it as-is, aggressively priced to sell, we're looking at this range. However, if you invest in a few improvements, I've got great...

Have you ever faced a bad review? If not, you will at some point in business. It's inevitable.

So, what's the game plan when it happens?

Here's a nugget: 94% of consumers, according to a recent study, let a bad review sway their decision to avoid a business.

You've probably done the same on Yelp or elsewhere. The key? It's not just the bad review itself, but how many positive reviews balance it and whether the business responded.

Surprisingly, 53% of consumers expect a business to respond to a bad review, yet 63% say businesses rarely do. Here's the kicker: 45% of consumers are still open to doing business with a place that got a bad review if the business responds.

The response is crucial.

So, how do you handle it?

Never argue, never say they're wrong. Instead, respond and swiftly take it offline.

For instance, "Thanks for sharing your feedback. Sorry your experience didn't meet expectations. Let's discuss this offline." Or, "Feel free to reach out with further comments. We're...