I've noticed a common practice among the top performers in the country, and it's what I like to call an "Easy Exit Listing Guarantee."
The question for you is, do you have one, and are you effectively marketing it? And what exactly is an Easy Exit Listing Guarantee?
It's pretty straightforward: It means that if a seller feels you're not meeting their expectations, if they're unsatisfied with your service or marketing, they can exit the listing and hire another REALTOR.
Now, there are a couple of conditions to consider.
First, they need to give you a 48-hour window to address the issue. Some may prefer 24 hours or 72 hours, but there should be a timeline for addressing any perceived problems.
Second, they can't exit the listing if it's pending or close to closing.
Those are the two key caveats.
So when you're in a listing appointment, you can say, "I want my clients to feel completely satisfied with my service, so I offer an...
Hey everyone, have you ever found yourself in a lull, wondering how to make the most of your downtime? Well, I've got three impactful activities to supercharge your business during those quieter moments.
Let's delve into them:
Step #1 - Cleaning and categorizing your database.
It might not sound glamorous, but trust me, this is the foundation for success. Your database is like a garden, and nurturing it ensures fruitful outcomes. Get in there, organize it, weed out the unnecessary.
Begin by categorizing contacts into groups:
The A group: those who refer you business, your champions.
Then the B group: They've transacted with you but haven't referred yet.
Acquaintances form the C group: They know and like you, but haven't done business or referred.
Lastly, the D group: Reconnect with them or let them go. Don't keep dead weight.
Maintaining momentum, let's talk about building your database. The game has changed with...
If we look at the engine of your business, it's your sphere of influence.
Statistically, for every 10 people in your sphere, you'll average one closed sale.
But that's only if you stay in touch with them 20 to 50 times a year and have a good relationship with them. So let's go back to January 1st. Do you know how many people were in your sphere at that time?
If you don't, you don't have control of your business.
Now, fast forward to today. Have you grown your sphere of influence in the past six months? If not, your business may not be growing and could even be shrinking due to market challenges.
We can't escape market conditions by focusing on other things and neglecting our sphere. The key to changing your business's trajectory is to quickly increase your sphere of influence. You may be wondering how to do that. Well, here's a magic number to keep in mind:
The average American has 27 conversations a day. As REALTORS, we should...
Can you relate to this?
You meet someone at a party or an event, and you have an amazing conversation. You really connect and feel like you could become friends. But then they disappear, and you never hear from them again.
As REALTORS, we often miss the chance to expand our spheres of influence and grow our business by nurturing these relationships. Plus, we could gain some friends along the way.
But here's the secret sauce: The Ford Plus One technique.
You might be familiar with the Ford technique, which stands for Family, Occupation, Recreation, and Dreams and goals. Whenever you're talking to someone and struggling to keep the conversation flowing, think about these topics.
Ask about their family, their occupation, what they enjoy doing for fun, and their dreams and goals. But as good as that is, I want to add a plus one to this technique.
I want to find a way to add value to the conversation even after it...
Hey guys, let me share an inspiring story with you:
Years ago, I met Wan Foran, a REALTOR who faced incredible challenges on his journey to success. Wan graduated from real estate school on September 11, 2001, as a Muslim immigrant in a small town. Despite the odds stacked against him, Wan achieved remarkable success. I asked him, "How did you overcome these obstacles?"
His answer changed my perspective, and it can change yours too.
Wan knew he needed to expand beyond his local market to thrive. So he adopted a unique approach to farming...
Instead of targeting specific demographics or niches, he focused on feeder markets—areas surrounding his town that contributed potential clients. Wan identified the top 10% of REALTORS in each feeder market and initiated contact through postcards, calls, and emails. He introduced himself as a hardworking REALTOR and offered an enticing proposition:
If they referred clients to him, he...
Human resource directors, why should you care about them?
Well, if you're seeking a new lead generation strategy, consider focusing on HR directors.
In most markets, companies with over 25 employees have an HR person responsible for hiring, evaluations, and more. Part of their job involves recruiting, primarily focusing on the company's benefits.
But what if you could assist them in selling not only the company's benefits but also the benefits of living in the area?
Here's how you can approach HR directors:
Start by obtaining a list from the Chamber of Commerce and target larger businesses in your market. Introduce yourself as [Your Name] from ABC Real Estate, a relocation specialist.
Let them know you understand their role in human resources and offer your assistance as a REALTOR in promoting the market area. Emphasize that your services are free to the company, and you only earn a commission if...
Did you know that one in seven US home investors lost money on their investment in March?
While I don't feel too bad for them, it's worth noting that profits are down for flippers and investors in the marketplace. And the reason for this is simple: holding costs are higher, interest rates have increased, and there's less inventory to choose from. So when a property that meets their criteria does come on the market, there's higher competition for it.
But as a REALTOR, you can help investors and be the person they turn to.
Let me share my personal experience:
Twice this week, I had different agents representing buyers call me. Their approach was interesting. They said, "Hey Jim, I noticed you recently purchased some real estate investment property. I have an investor myself who's looking to buy something. Do you have anything that you're holding that you'd be willing to sell now that you've bought some other...
Do you have a hospitality mindset?
I heard two stories that really brought this home.
The first story is about a restaurateur in New York City who overheard a group of four customers talking about how they had never had a hotdog in New York City, despite just having a $500 lunch at his high-end restaurant. The owner of the restaurant went to a hotdog vendor across the street, bought four hotdogs, had the chef cut them up and arrange them elegantly on a plate with all the condiments the customers wanted, and had the maitre d' bring it out to the customers. They were amazed, even though they had just eaten a five-star meal.
The second story is about Steve Wynn, who owns the Wynn Casinos in Las Vegas and all over the world. He implemented a process where all managers have a daily brainstorming session before every shift, and one of the things they discuss is positive experiences they've had with guests.
One of the stories that...
Hey guys, what's the best way to make your real estate marketing really pop, to come to life and generate more buyers and seller calls and emails and texts?
Well, the secret is using the AIDA approach, which stands for:
I want you to go back and measure all your marketing against this standard. It's simple and easy to understand.
It starts with Attention.
Is the marketing you're doing grabbing people's attention, shaking them and saying, Hey, you gotta look at me?When you look at marketing in magazines, on television, or on the internet, it has to break through the other 5,000 advertising messages the average American sees every day. So how do we break through? A lot of times, it's by asking a question, using photography, or creating visuals that are funny, ironic, or shocking. If it's the same old boring photos and headshots that you see with most realtors, it won't do that. We have to get outside the box.
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...