Every transaction you enter into will be the result of a recent conversation that you've had in the last two weeks. Yes, your business is the result of your ability to have conversations on a regular basis. A great rule of thumb is this - for every 30 conversations you have you will average one closed sale.
Two quick techniques that can help you improve your conversation skills - first when you're having conversations get in the habit of asking this question:
"Hey, I'm in real estate so I always have to ask what's your housing situation look like right now?"
And now you're in the conversation. You're in the opportunity.
Almost everybody aspirationally is thinking about making a change at some point, right? Which leads to the second technique, which is even more powerful, which is to always ask this question.
"Hey, I'm in real estate. I always ask people if you could live anywhere in any kind of home, what would that look like for you?"
When they answer the question, you can...
Quick notes on professional persistence. For many agents when we are going to do follow up, we feel uncomfortable with it. We feel like we're going to be annoying with clients and or potential clients. So we don't make the calls, we don't send the email, we don't send a text. And what happens is we lose those opportunities to our competitors. Here's the reality - 80% of all sales are made after the fifth contact or follow up, yet, most salespeople will give up after the first or second. In fact, 50% of all real estate leads are never followed up on!
We don't want to fall into that gap trap, right? We want to be someone that is following up consistently, but we need to think about it in a different way. Professional persistence is different than just being annoying. One personal example for me personally is Matt. Matt had been working on me for months and months and months to sell me his product. I would get a weekly call, a text or an email from him and about 80% of the...
When you have a listing that goes pending or sells most agents do a just sold or just pended postcard to the neighborhood, which is a great idea because it can trigger people to make a call to you. But recently I heard a great twist on this approach which I thought was brilliant.
This agent still did a postcard but he tied it back to his last open house. What he said on the headline of his postcard was this "At my last open house. I had 27 attendees and this house just went pending. All of those buyers are still looking in your neighborhood. Please give me a call. If you have any interest in selling."
What a brilliant concept because it ties the message to urgency and the last marketing you did for the house, which was an open house. Plus it shows off that you are getting results and you have real world buyers that are interested.
When you look at in the NBA, the NHL, or the NFL, what do great teams do before an important game? They sit down and study the competition. They look at the plays that have been run by their competitors. They look at the defense, the offense, they look at the individual players and how they are going to approach this game.
We need to do the same thing as a corporate athletes.
We need to be looking at our competitors and define how we can compete at a high level. What can we learn from what they're doing? What can we avoid that they're doing wrong? What can we do to get better than we already are?
Once you've identified your top five competitors. Start by reviewing their personal website. Check out their their bio or about me section, study the content, the structure, and the brand elements of how they have written their ad copy. Who is it speaking to? How does it come across? Next look at the photos. Are they using multiple photos throughout the website? Are they using video...
If we printed it out every transaction you've done over the last 12 months, you would likely see clusters in your production. This means you would see transactions that are done relatively close together, then a gap, then another set of closings, then a gap, and so on.
Why do we have gaps in production?
The answer is because we have gaps in lead generation. We get busy and we stop lead generating and every single time we say to ourselves, "I've made it. I don't have to lead generate anymore."
I know I've been there. And then we run out of escrows. So we panic and scramble, we quickly begin lead generating, and the cycle continues and continues and continues.
But this approach to your business creates anxiety. It creates stress. It creates turmoil in your business, and it's not a great way to run your business, or live your life.
The good news is we can eliminate those gaps. If we do something really simple and you already know what it is - we need to lead generate every...
For my recent Birthday my wife bought me a trip to raft the Wild and Scenic section of the Rogue River. This is a guided trip where we stop at lodges along the way and they serve dinner and breakfast - so not exactly roughing it - but still an adventure.
When we set out on the trip we were told that cell phones would stop working almost immediately, there is no wi-fi, tv, or phones at any of the lodges, and no amount of crying about it will fix it - you are going without communication to the outside world for three days.
I kind of shrugged it off - set all my platforms to out of office, recorded my voice mail messages explaining the situation, and figured it would be the ultimate way to get away from it all.
The truth is I felt way, way more anxious about it then I thought I would. When I checked my phone on our first lunch break 12 texts and about 40 emails had come in just during the first hour on the river that we still had service (none of which I could respond to). What would...
Interesting news - Facebook is quietly testing the use of hashtags.
We all know that Facebook owns Instagram. They have for years and hashtags are big on Instagram. So we always tend to place hashtags behind every post. Why do we do that? Because hashtags are searchable! If you click on a hashtag you will see all the posts that have used that hashtag recently.
Now that hashtags are going becoming searchable on Facebook, you can get ahead of the crowd and be somebody that is showing up at the top of one of these hashtags early.
Check out this quick video for a quick demonstration!
So one question that you might be getting occasionally from buyers is "I'm going to wait until we see a lot more foreclosures hitting the market...I know they're coming."
A couple of stats that has been recently reported in thew news is that 12% of mortgages across the country had recently been delinquent. Buyers see the headline and naturally assume we are heading back to a 2009 kind of market cycle where there's going to be a ton of foreclosures.
That's not true. Why? Because this is a completely different market environment.
The first reason reasons we won't see a massive surge in foreclosures is because of the CARES Act, which was created in response to the COVID pandemic. The CARES Act includes a provision which forces lenders to offer forbearance to people that are in financial trouble. Forbearance allows borrowers to skips payments for a period of time or pay interest only payments. It started with a 180 days and it's now been extended for another 180 days. So a...
How do you engage your sphere of influence in a unique way this week?
Try using an audio clip from Facebook Messenger. Audio clips can provide an easy way to record a personalized message that will engage your sphere of influence. Yes, calling and texting are always our number one and two methods of communication but an audio clip can be something new, fresh, and exciting.
The advantage to a clip is the ability to send multiple messages quickly. Imagine touching a hundred of your clients with a personal message that will be heard within just a few hours!
Need an idea on what to say? Try this script: “Hey (contact name) just wanted to reach out and let you know that I am now accepting new listing appointments – we are in a super low inventory market, almost sold out in some price categories – so if you hear of anyone making a change I would love to help and if I can help you with anything, please give me call!
So you wrote an offer and it failed, now what?
For most agents this is the end of the line but for savvy agents this is an opportunity to be placed into a back up position.
While we all prefer to be in 'First Position' in a hyper competitive market agreeing to be 2nd position can provide your buyer with an opportunity that could be easily missed by other agents.
During our current Covid-19 market we are still seeing an elevated number of contract failures, those failures can be create the opening for you buyer to quickly move into first position but only if you have coached your buyer correctly!
Watch this quick video for tips!
Check out the Webinar: 10 Ways to Win in a Multiple Offer Situation
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