Do you feel confident when you talk to a buyer or seller for the first time? Do you feel like you own the conversation? If you don't feel that way, then the reason might be that you don't have competence.
When you come into a room, you want to be the smartest person in the room when it comes to your profession. Unless you've hit that standard you are never going to be at your highest level. Here is one easy way to gain competence that will help you feel more confident when you're having conversations with buyers and sellers.
Know your numbers. Every MLS has a monthly report which will give you the monthly stats to compare each month and year over year statistics. Look at the numbers for pending sales. Where are they in your market? How many properties sold last month in your market? How about new listings? How long does it take the average home to sell? What is the months of supply in your market? How do these numbers compare to the previous month and the previous year?
It's likely that you know someone who has had a business close this year. We're seeing this across the country; about 8,000 businesses have already closed in 2020 . With Covid-19 and to online shopping - small business are suffering. Shockingly - 61% of retail purchases this year were done on a mobile device and that number is likely to grow in the coming months.
So what can you do to help people in your database who own a business that are struggling right now? First it's important to understand that we are all small business owners. We are all in this together. When a local business closes - it hurts the owners sure, but it also hurts the suppliers, the building owners, the employees, vendors, and countless other people who rely on small businesses in the community.
Four Ways You Can Help:
1) Endorse them on social media.
"I'm going to feature a local business every single week on my social media throughout this COVID crisis. I want to make sure that we're supporting...
A recent study that shows about 6% of people are taking advantage of eviction moratorium laws. In other words, they're not paying their rent and they're just staying in place. In those cases where the tenant is unable or unwilling to make their rental payment, it can become a burden on the people that own these investment properties.
Why? Because they have to continue to make their own mortgage payments.
As a real estate professional we should reach out to investors as a resource. How? Try using the "Lock In Your Upside" script:
"My name is (your name) with (your company name). I am calling about an investment property at (address of units) did I reach (owner name). Great! Quick question - how did you do with rent collection last month? You know, the biggest challenge that I'm hearing from rental owners in the market when I'm talking to them is that they're having a challenge with the eviction moratorium. The reason for my call is that we have still...
Do you find yourself getting a lot more friend requests right now? I am. In the past I might get one or two a day, now I'm getting four or five, sometimes 10 a day. Why is that? More people are at home and they are on their social media much more than ever!
So what can you do with that information?
We know we're supposed to be reaching out to our sphere with phone and video calls, writing handwritten notes, and Zoom meetings. But let me give you something else to do as well. Set a goal of sending out 10 friend requests on Facebook, following 10 people on Instagram, and connecting with 10 people a day on LinkedIn.
Yes, you can make 30 connections a day and it doesn't take a lot of time. But don't just connect - go deeper - endorse people on linked in and try using Facebook and Instagram as another CRM platform.
Look for life change. If someone is posting about losing their job, having a struggle with their kids and homeschooling, or they're going crazy in...
Here's a quick technique you can use in the field today to unlock more buyers, more sellers, and more opportunities.
It's the 'What's Stopping You?' technique.
This simple question can be added to almost any script to open up conversations, engage clients in a thoughtful conversation, and uncover leads that you may have missed using a traditional approach.
Watch this three minute video to see the technique in action!
Here's something to think about as you're coming into contact with your database this week which is the power of - The Next Step.
As you're making contacts, think ahead to the context of your next conversation. This is critical because you want to make contacts in context. If I'm talking to somebody and they mention that they're going to Hawaii, or their wife's having back surgery, or they got a new dog, you want to make those notes in your contact database, your CRM, so the next time you talk to them, you're talking in context about what they just talked to you about a week or two ago.
If you're always focused on what you want to say and you're not acknowledging what's going on in the client's lives, there's not going to be as much resonance, or as much of a connection. Instead you will come across like a typical salesperson. Our goal when making contacts is to elevate our client relationships to friendships.
To apply this technique requires a few...
The one thing that is missing from most agent's business strategy can be summed up in one word - accountability.
There is no easy way for agents, team leaders, and brokerage owners to measure their daily activities against their goal set. This creates inconsistency in lead generation, gaps in your performance, and an empty bank account.
Even with the best coaching and training your business model can fall flat unless you take the time to carefully implement, track, and measure your performance.
Listen we have all been guilty of attending a webinar, listening to a pod cast, or reading a great book but not actually pulling the trigger on action. But action is the only true way to create the results that will transform your business.
But what if you had a solution?
A simple, elegant way to track activities and results bundled with the best coaching platform in the industry plus incredible marketing assets that will help you stand out in your marketplace.
Watch this video to...
One of the things that we're seeing across the country, at every level is that buyers are climbing the pricing ladder and purchasing more expensive homes.
A couple of reasons. First lower price categories have sold out in a lot of markets so they're forced to go up to the next price bracket. But another reason is interest rates. As interest rates decline it allows buyer to move up into price brackets they haven't been able to before without having as big as an impact on their house payment as in years past.
Interestingly what's happening now is that we are starting to see this really impact the luxury. This is an incredible opportunity! Now is a great time to dive into expired luxury listings that have been off the market for an extended period of time and start making contact. We call these legacy expired listings.
To get started do some deep research in your MLS. Go back two, three, or even four years on expired luxury listings. Can't find a phone...
The market is changing, we are starting to see double-digit appreciation returning to the marketplace. Unfortunately this can cause some sellers to get ahead of the market and demand prices that are unreasonable. In short some sellers are getting greedy.
As a real estate professional one of our most important jobs is to be be an educator. Try using the "Four Sales" - Script to help educate your sellers:
"We have to sell this home to four different people. We have to sell it to the real estate community, to motivate them to show the home. Then we have to sell it to the buyer. Then we have to sell it to the appraiser and finally we have to sell it to the underwriter for the bank. All of these people will measure your home-based other homes they have seen in the marketplace. Even if one of them agrees to pay over market – it’s unlikely the other three will also agree."
Are you ready for a Real Estate Coach?
Check out the Path Performance...
During this episode of the podcast I interviewed Erin Bradley. Erin is a speaker and trainer, bestselling author, and host of the real estate podcast Pursuing Freedom.
Erin learned the hard way just how difficult entrepreneurship and success in sales can be. From flat broke to 6 figures, and then to burnout, Erin has been through it all, and quickly discovered that the stress of overwhelm is no less painful than the financial stress of failure. After redesigning her business to support her dream life, she’s been on a mission to teach her fellow real estate professionals to do the same.
During the program we dive deep on these core topics:
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This is your time to create the business and life you deserve!
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