One thing we're all challenged with right now is the speed of the market — or how fast listings sell as soon as they hit the market.
When you listed a house in a traditional market, you would have 90 or 180 days of market time. During that market time you'd able to be able to put out just listed cards, call and farm neighborhoods, host multiple open houses, and receive sign calls from your marketing. And with all that marketing, you would be able to convert those interested people into more buyers and sellers.
So every listing could easily lead to five or six more opportunities for more buyers and sellers.
But today things have changed. Every time you put a house in the market, it's generally selling within a few days with multiple offers. So you're getting robbed of that extra marketing opportunity.
But you can change that by using what I call a Marketing Sequence.
A marketing sequence simply means that you have a strategy about how you...
There's one key thing that all great leaders possess: The ability to be self-critical. They're aware that they're not perfect. And that they need to change, adapt, and pivot to be more competitive in their market.
So how do you do that?
One way is to encourage brutal honesty and absolute transparency with your teams — both inside your office and community as well as outside of it.
If you're an agent, this means asking your escrow officers, lenders, and co-op agents to be brutally honest with you.
Now there's a magic question to help you do this that I learned years ago from a top producer that took her business from around $2 million a year to $10 million a year in only about two years.
When I asked her what she did to transform her business from 2 million to 10 million, she told me she just started asking this key question after every closing.
Here's her key question: "Hey, listen, I'm working really hard to improve my business this year. I really...
There are 8 key systems I recommend you create this year to help you scale your business and provide consistent raving fan level service to buyers and sellers.
By the way, a system is nothing more than a checklist. In the real estate industry we often make systems sound complicated, but a system is nothing more writing down all the things you need to do in order to do something efficiently.
8 Key Systems to Quickly Create Predictable, Repeatable Success:
1. Pre-listing Checklist
You should have a list of all the things you need to do to get ready to take a listing to be at the top of your game when you meet with that seller for the first time.
2. Listing Launch Checklist
This explains what you're going to do to launch a property into the market. Think about the 5, 10, 15 things you're going to do every time you launch a listing in the MLS.
3. Marketing Plan Checklist
This should include everything you're going to do to actually promote a...
We see so much marketing that is irrelevant and meaningless — it doesn't resonate with anybody. It's trying to be ironic, cute, and Instagram perfect.
But nobody really cares so these marketing gimmicks fail.
What do our potential clients care about then?
Learning something new — which will always make them stop dead in their tracks and consider your message.
That's the basic idea behind my "Educational Marketing" strategy.
Now let's think of it in terms of real estate:
Not everyone has an interest in real estate. Buyers and sellers usually only get interested right before they're ready to sell their home or buy a new one.
So when a buyer starts to think that they should buy a house, that's when they start to look at all the terms and processes around real estate. Or when a homeowner gets interested in selling, that's when they suddenly get tuned into the market conditions.
That's the power behind using "Educational...
Have you gotten all of your reviews and recommendations from your past clients over the past year? If the answer is no, you're missing a huge opportunity because there's a young, aggressive, and strong agent that's rising rapidly and would like to capture your future clients.
These young agents are listening to podcasts, watching webinars, and they're learning about a secret weapon in the market — and they may be beating you without actually beating you.
Here's what I mean by that:
These young, aggressive agents are capturing reviews and recommendations. And they are hyper-conscious of getting five-star reviews from everyone and anyone who will give them to them. They're making sure that those reviews go on all the right places, which I'm going to outline for you. And what happens is you can have an agent that's only been in the business 2-3 years, but online, they look like they are super experienced because they've stacked up more reviews and...
Want to take a lot of listings rapidly?
The trick to do this is by targeting pre-foreclosure properties. There's 2.7 million homes in America today that are in a pre-foreclosure status. That number is so high because a lot of people have applied for a forbearance due to the COVID crisis, the struggling economy, and not being able to make their house payments.
A forbearance is where the lender gives the owner an opportunity to restructure their loan so they can either move or skip payments then make a balloon payment at the end.
But a lot of people are going into default because they're not able to get caught back up.
Here's the latest numbers we found from principal economist, Yanling Mayer from CoreLogic:
39.1% of all forborne loans are now 150 days behind payment. And 25% are 180 days past due.
Now, I don't say this to scare you that we're in 2009 again. The sky is not falling — and there are many differences between the market we were in then...
50% of clients can't remember their agent's name 6 months after closing.
In order to avoid falling into that group, you need a system of steps to follow after closing that captures people for the long haul. In this video, I'm going to explain four strategies to do this and reveal a simple system you can implement today. It's called the "3-7-30-1 System" and it will make it impossible to be forgotten by your clients.
The 3 stands for Day 3 After Closing.
We already know we should provide a closing gift and ask for reviews and recommendations after closing. That's not what we're talking about today. Instead, we're talking about having a follow-up system that makes it impossible to forget you.
So on Day 3, you want to call or text your clients and say, "Hey, I just want to follow up with you since it's been a few days since we closed. Often my clients find that if things are going to go wrong, they go wrong in the first weeks of ownership. Because of...
When's the last time you updated your bio and refreshed your overall brand?
Remember the brand that you are selling is YOU. And you need to refresh your brand at least once a year. You might hate getting your picture taken, but you need a new one every year. And I'm not just talking about a new headshot. You also need to hire a professional photographer to do an entire photo spread for you.
On top of that, you need to update your bio. The best bios that will drive sales your way include the following four things:
Your #1 goal with your bio is to create an emotional connection with people. So that when they read about you, they can easily decide that they want to work with you.
Once you've updated your bio, you have to make sure...
Watch and listen to this podcast featuring Jennifer Seeno Tucker. Jennifer is an Associate Broker & Vice President of Business Development of Exit Realty. She is the co creator of The 7 Saturday’s Training Program and the author of Become A Rockstar Real Estate Agent: 7 Steps to Make $100k A Year.
As a former educator with an advanced degree in curriculum design and instruction, Jennifer is committed to utilizing her background to provide realtors with the necessary tools for support as they transition to a full time real estate agent.
Are you ready for a Real Estate Coach?
Check out the Path Performance Coaching Platform!
+ 16 Weeks of Daily On-Demand Coaching
+ Hundreds of Downloads - System, Forms, Checklist, Scripts..
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One question we always receive as REALTORS is - What's going to happen next? What's the crystal ball for where prices are going over the next 12 months?
According to the NAR, Zelman, Realtor.com, Freddie Mac, CoreLogic, Fannie Mae and the Mortgage Bankers Association, the average of all those top industry insiders and economists within those groups, their prediction for the next 12 months is that we're going to see appreciation at 3.9%. You might think that sounds low. After all we just went through a year where we had double digit appreciation and in many markets we saw appreciation as high as 15-16% . Why would this group of economists predict such a low number when most of us would reasonably expect it to be double digits or high single digits (at the very least).
The reason is I think those economists know something - When you have a low supply and high demand, what happens? Prices go up. When supply increases, it puts pressure on...
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