Hey guys, do you want to be a little bit more assertive, not aggressive, but assertive in your market? Let me give you a technique, a tip, and I love this idea. It came from one of my coaching students, and that is the idea of a real estate resume.
So, you are interviewing for a job when you're working for a buyer or a seller, and how many times in the real world, when you get a real job, you have to turn in a resume almost a hundred percent of the time. But what if you just become proactive and you create a real estate resume and you give it to everybody in your database? And you say, "Hey, I'm accepting new buyers and new listings for the spring market coming up, and I just thought I'd give you my real estate resume that you can share with your friends and family about my background as a realtor and my qualifications to help them with all their real estate needs. Here's a copy of it. Feel free to share it with your...
How many referrals did you send out last week to your favorite vendors in your market area? If the answer for most of you is a big fat goose egg, here's the problem:
The problem is you gotta put into place the power of reciprocity.
You start pushing out what you want to receive. Give, give, give, and eventually things will start coming back to you. It's just a natural thought, reciprocity.
We give because we want to be grateful and generous, and we know eventually good things will come back. But when you're not in that mindset of having abundance and you're closed up, you're not ready for opportunity. You have to open yourself up to opportunity by being the person that provides opportunity to others.
When you're out in the market, you're listening for opportunities to help people in your sphere of influence, people that you can help with their small businesses and what they're trying to get done in their lives. When...
How old were you when you moved out of your parents' house? And how old were you when you purchased your first home? New information from the National Association of REALTORS shares the latest data with us on the averages in the US. The average age of someone leaving their parents' house today is... drum roll... 26 years old. And the average age for them to purchase their first home is 34.
So I'm gonna challenge you. Put this out on a social media post and ask that question:
When's the first time you moved outta your parents' house? When did you buy your first house? You're gonna get a ton of responses. Then answer the question yourself like I did recently, and I got a huge response on this, and my answer was, I moved out at 17. I bought my first house at 19.
Then you might dig deeper and say, what's preventing you from taking that next step? If you have some people say, well, I'm not a homeowner yet. Get into that...
People that are doom and gloomers that think the sky's following, everything's going wrong, the market's never gonna come back are dead wrong. For one specific reason. And I'm gonna tell you why:
First of all, interest rates are coming down, demand's coming back. There are all kinds of leading indicators that say our spring and summer markets are gonna be incredible. But let me give you just a piece of information, which was shared with me recently, which I thought was absolutely fantastic and got me excited about the upcoming surge of activity we're gonna see in the next 5-10 years. We're gonna have this incredible run that's gonna be starting very soon. And I want you to be a part of it.
It's all about generational population basics. When we look at the baby boomer generation, which when I started in real estate, everything was about the baby boomers because they were just calming through the pipeline, buying up...
I've got a question for you:
How do you win against Zillow and Realtor.com in your local market?
And the reason I ask this question is because it's kind of crazy when you think about it:
Realtor.com and Zillow come to town, their algorithm takes our listings and uses our listings to get buyers to their websites. Then they take these buyers, they capture the information, then they resell the lead back to us.
It is absolutely bananas and nuts that we allowed this in the industry, but here we are. So how do we win against these behemoths, against these massive algorithms that are running 24/7/365 in our marketplaces?
I'm gonna give you the roadmap right now:
The way you win against an algorithm is you have to win mindshare.
Mindshare, not market share, but mindshare.
What that means is, in your community, when people hear the words real estate, what's the first thing they think about?
Is it Realtor.com? Is it Zillow? Or is it your name...
What's more important than the interest rate you're paying on a home?
It's the price you're paying for a home, obviously.
So when we're talking to our potential buyers, this is something we should be talking about with our social audiences, our sphere of influence, our farm areas, and really beating this drum that they need to refocus their attention on this idea that prices are coming down. And we have some real opportunities in the market.
The way we're gonna frame that up is gonna say:
"Hey, listen, a lot of people get really focused on interest rates. But I want you to start looking at price because some smart buyers that I know, some savvy buyers are really starting to get out there and find some incredible bargains. There's really two areas that I like to talk about with all my friends that I think are huge opportunities.
One of them is luxury housing. There's a 38% drop in the last quarter of 2022 in luxury home sales....
How can every business owner that you know model McDonald's for building wealth? Well, you might not know this, or maybe you do, but McDonald's makes a lot of money selling hamburgers, but they make more money owning real estate.
Did you know that of the 36,000 McDonald's locations around the world, they own 70% of those locations and the franchisees are paying them rent?
See, they figured out a long time ago that the money is in real estate.
So when you're talking to your business owners that are in your database, friends of yours, family members, people that are your in sphere of influence that own a business, ask them this key question:
"Hey, have you ever thought about buying a piece of real estate and putting your business in that? Or maybe buying the building that you're in? Because one of the best wealth building strategies for retirement eventually for your exit strategy is to sell your business and then rent the building...
What are the six things that you're gonna get done today?
Now, why do I say six?
The reason is studies show that most working adults can only accomplish six big items a day. Most of the things that they want to get done then are gonna come down to your priority setting. And how good you are at setting true priorities, and how committed you are to getting those priorities done.
So if we think that we're only gonna get six things done in a day, we have to say, how do I prioritize to make sure I get those six things done? Well, the first thing is this understanding when you build your to-do list is prioritizing what's truly important.
Some of us—I've been guilty of this too—create a to-do list that's got 30, 40, and even 50 things on it. It's two or three pages long, and we tend to do the easy things first instead of the important things.
We wanna just scratch off items because we like to see those lines.
Here's a quick question:
Have you offered your concierge services to all of your clients?
First of all, what's your concierge services? That means that you are the point of contact for anything that has anything remotely to do with real estate, for all of your sphere of influence. And your farmer areas. And your social audiences. So in all those categories, I want those people to think of you when they need a plumber, an electrician, a carpet layer, etc. They're thinking about you before they think about anyone else because you're the main point of contact.
Now, how do you insert value so that they actually make that call instead of just Googling it? Well, here is the way you insert value:
First of all, you gotta talk about it and you should say something like this, "Hey, you may not be aware of this, but I want to act as your real estate concierge for anything that you have related to your house. Whether it's landscaping, a new...
We are in a different marketplace, aren't we? The market totally rolled over into a buyer's market in a lot of price categories. And because of that, we need to hone our negotiation skills. So today I'm gonna give you 10 strategies to help you be a better negotiator. Because we know if a buyer feels good about the negotiation, they're gonna often be excited, and tell their friends and family to use use to purchase their next property.
Remember, it's all about referrals and doing an amazing job.
1. Discovering the motivation
It's simple, but it's interesting how many agents haven't done that. We just had an offer come into my office over $2 million and guess what? It was electronically sent without a phone call to the other agent. Very frustrating experience for the listing agent. But this is the example of a lot of buyer's agents that don't have any training. They're not calling the other listing agent and asking simple...
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...