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The “Quarterback” Secret for Making Buyers Happy to Pay Your REALTOR Fees

        

I've got a hypothetical scenario for you:

Imagine a buyer walks in and says, "I want to buy this specific house. We've found it online and want to pay you directly. Convince me why your fee, whether it's 2%, 2.5%, 3%, or whatever you charge, is worth it. What value do you offer beyond finding the house?”

Remember, they've already found it. This is crucial for buyer representation. Let me share some ideas about this, drawn from my experience teaching the Accredited Buyer's Representation (ABR) class for NAR for a decade:

Let me guide you through building value. When working with buyers, start using this language: “You know, finding a house is surprisingly straightforward. My real work begins once we've found the house.”

It's crucial to show that the house hunt isn't the challenge; anyone can do that.

Then continue:

“But what I do is special. Here's what I do: First, I conduct thorough research on the house. I...

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7 Effective Strategies to Motivate Your Real Estate Team

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In the fast-paced and competitive world of real estate, there are bound to be periods of slow sales. During these times, it's crucial to keep your team motivated and focused on achieving their goals. By implementing effective strategies, you can inspire and energize your real estate agents, ensuring they stay productive and positive even when the market is challenging. In this article, we will explore seven proven strategies to motivate your real estate team during slow sales periods.

 

 

1. Review and Set S.M.A.R.T Goals

 During slow sales periods, take the opportunity to review your team's performance and set new goals. Use the S.M.A.R.T goal-setting framework, which stands for Specific, Measurable, Achievable, Realistic, and Time-bound. Instead of vague goals like "increase sales," encourage your team to set specific objectives such as "generate 20% more listings in a specific region" or "increase new seller leads by 10%."

By setting clear and measurable goals, you...

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Podcast #56: Embracing Technology to Build Your Brokerage Brand Featuring Caroline Hobbs

 

During this episode of the podcast listen as Caroline Hobbs provides deep insights into how using cutting edge technology can be the ultimate differentiator for real estate companies and agents.  Caroline is the visionary founder and Chief Broker of Reward Realty. Her team brings unparalleled commitment and tech proficiency to Silicon Valley's real estate scene. Her journey started in 2008 at a national franchise where she mastered database management. In 2013 she addressed agents' system management challenges by establishing Reward Realty as an entity that reflects her passion for real estate and technology.  Join us as Caroline outlines her cutting edge strategy!

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3 Key Stats that Drive Your Real Estate Success (Are you doing all three?)

           

I want to highlight three key stats that drive our real estate business:

First, about 80% of our business consistently comes from our sphere of influence, no matter what we do.

Second, an impressive 53% of today's industry transactions are from millennials.

Lastly, a Nielsen report reveals that a significant 92% of consumers trust family and friends over advertising. This underscores the importance of reviews and recommendations.

Now, let's dive into these areas and ask ourselves what we've done in the last six months to strengthen our sphere of influence, boost sales, and expand our reach.

Consider this: In a changing market landscape, where factors like interest rates and conditions influence sales ratios, it's crucial to grow our audience.

If your sphere of influence isn't growing, you might already be experiencing a decline in business due to lack of proactivity.

But it's not just about quantity; quality...

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The Genius “Tour Guide” Strategy for Boosting Referrals & Buyer Delight

            

I've got a story from my trip to Boston with my wife. While our son was in summer camp, we embarked on a delightful foodie tour of Little Italy, guided by an amazing teacher turned tour guide. He shared the rich history of the area, led us through fantastic shops, and treated us to mouthwatering cuisine. Toward the end, he pulled off a brilliant move relevant to your real estate efforts.

As we basked in the afterglow of a satisfying tour, he proposed a group photo. After the snap, he asked, "Who wants a list of all the restaurants we visited today? Just give me your email, and I'll send it over."

We all gladly obliged. Upon reaching home, his email contained the promised picture and the tour's culinary highlights. Here's the genius part: he added a well-placed plea for a review, taking advantage of our post-tour excitement. We promptly provided a glowing review.

He went further, offering even more value. For...

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Crack the Expired Listings and FSBO Code with these Cold Texting Strategies

             

Hey there, I've got a winning strategy for dealing with expired listings and for sale by owners:

Cold texting.

In today's age, people often ignore unknown calls. So, why not consider a more effective approach? Cold texting can be a game-changer, and adding a personal touch through video texts sets you apart.

Let's talk about expired listings. Craft a concise cold text, incorporating a hyperlink for more info.

For example: "Hey, I specialize in unique home-selling strategies. Want to chat? Check out my real estate resume here." (This link could lead to your LinkedIn or Instagram profile, even a Google Doc or a dynamic success portfolio.)

Alternatively, for a video text: "Thinking of relisting your home? Planning to interview new agents? Take a quick look at my marketing plan." This is especially impactful if you have a comprehensive 50-point marketing plan like the one in my coaching program. Showcasing...

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Building a Strong Company Culture in Your Real Estate Brokerage

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In the competitive world of real estate, having a strong company culture is essential for attracting and retaining top-performing agents. A positive and engaging culture not only boosts agent satisfaction and motivation but also sets your brokerage apart from the competition. Building a unique company culture requires a thoughtful and intentional approach that aligns with your brokerage's values and goals. In this comprehensive guide, we will explore the key steps to building a strong company culture in your real estate brokerage.

 

1. Define Your Core Values and Mission

Defining your core values and mission is the first step in building a strong company culture. These foundational elements serve as guiding principles for your brokerage and shape the behavior and decision-making of your agents. Take the time to articulate the core values that reflect the essence of your brokerage and the qualities you want your agents to embody. Consider values such as integrity, collaboration,...

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Podcast #55: How to Crush Your Goals and Expand Market Share in 2023 and 2024 w/ Joshua Smith

Joshua Smith is a real estate living legend and someone everyone should listen to (oh and by the way he just had his best month ever in real estate)! Selling 48 homes in his first year, he since sold 7000 homes been voted 30th Top REALTOR in America by the Wall Street Journal, and is ranked in the Top 1% of Realtors/Team Leader in the World. He is the Founder and Host of the GSD Mode Podcast. This episode is packed with specific strategies on ramping up both your listing sides and buyer sides. We go deep into team management, lead generation, scripts, social media marketing, and the way real leaders are adapting to our changing market.

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Innovative Real Estate Recruitment Incentives to Attract and Retain Top Talent

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Finding and retaining top talent is a constant challenge for real estate companies. With fierce competition in the industry, it's crucial to offer unique and enticing incentives to attract and retain the best agents. In this article, we will explore innovative approaches to real estate recruitment incentives that go beyond the conventional methods. By implementing these strategies, you can set your brokerage apart and create a culture that motivates agents to refer talented individuals.

 

1. Cash Bonuses: Motivating Agents with Monetary Rewards

One of the most straightforward and effective incentive options is offering cash bonuses to agents who successfully refer new talent to the brokerage. Cash bonuses provide agents with a tangible reward that they can use as they please. To make this incentive even more compelling, consider implementing a tiered structure. For example, agents receive a base bonus for each successful referral and an additional bonus if the referred agent...

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Recruiting Experienced Real Estate Agents: Strategies for Success

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In the competitive world of real estate, recruiting experienced agents is crucial for the success of any brokerage firm. However, attracting and retaining top talent can be a challenging task. To stand out in the market and convince experienced agents to join your team, you need effective recruiting strategies that showcase your value proposition. In this comprehensive guide, we will explore a variety of strategies and tips that will help you recruit and retain experienced real estate agents, ensuring the growth and success of your brokerage. 

Table of Contents 

  1. Understanding the Importance of Experienced Agents
  2. Building a Strong Company Culture
  3. Offering Competitive Commission Splits
  4. Providing Advanced Technology and Tools
  5. Highlighting Growth Opportunities
  6. Streamlining the Application Process
  7. Leveraging Networking and Referrals
  8. Conducting Effective Interviews
  9. Creating a Positive and Supportive Company Culture
  10. Investing in Agent Development and Training

 

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Fresh ideas, new scripts, cool tools, and the hottest trends in the real estate industry are coming your way. Have an amazing day!