Why do people try FSBOs instead of listing with a REALTOR?
The answer might surprise you…
A lot would assume it's all about commission, but only 40% of sellers do it for that reason. That means 60% don't!
Another interesting fact: Only 5% of people will never use a REALTOR. The othere 95% are open to it.
In fact, did you know 92% of FSBOs will end up working with a REALTOR?
The question is: Will it be you or your competitor? You need to reach out to them. There's a 4-6 week incubation period for most FSBOs. So, commit to working with them for that time.
When calling them, use this magic sentence: "I'm not calling to list your house. I respect your decision to sell on your own."
This will bring their defenses down. Then, ask to come by and take a look at their house. No pressure to list. It's about incubation and relationship-building.
If they decide to list with you, be ready for that conversation. Walk through the house, take notes, and casually ask if they might work with a...
Question:
Should you have your own podcast?
Absolutely!
It's a powerful tool to boost your influence and authority in your local market. By focusing on your niche, you become an expert and build authority over time.
Another benefit?
You can connect with influential people in your community. Create a list of top movers and shakers and invite them to be guests on your show. It's a win-win—you'll elevate your podcast's status and forge valuable connections.
Podcasting is straightforward—all you're doing is asking questions. Make it easy for your guests by providing a list of questions beforehand. Trust me, they'll love the opportunity to share their insights.
The best part?
You can repurpose your podcast content across different platforms using tools like Opus Pro and Repurpose.ai. It's seamless and helps you reach a broader audience.
As for the cost?
It's super affordable. Platforms like Buzzsprout make hosting a breeze, and services like Fiverr can help with...
Your website should be a magnet for potential clients. Think about it: when someone recommends you, the first thing others do is Google you. And if your website looks outdated, it's a turn-off. So, let's talk about how to create a standout website that dominates your market.
First, your website should reflect the lifestyle of your niche. If you're in a bustling city, showcase the urban lifestyle. If you're in a scenic area, highlight the natural beauty.
Second, make search functionality a priority. Your website should seamlessly connect to local MLS for easy property searches.
Third, make it hyperlocal. Your website should be a one-stop hub for all things community-related. Include tabs for relocation, buying, and selling. Also, keep your website dynamic by updating it regularly. Changing photos seasonally keeps it fresh and engaging.
Photos are paramount. Consider using AI tools to enhance and update them regularly.
Another must-have is a blog. Posting weekly about the local real...
When somebody hears the word “real estate” in your market, what do you think comes to mind?
For most Americans, it's instantly Zillow. They've taken over this position in consumers' minds, being the first place they go for searches and home values.
So, how do we compete against a billion-dollar company?
A lot of you have given up and said, I'm just going to start buying my leads from Zillow. Keep in mind that's a negative 32% ROI, meaning for every $10 spent, you lose $3.20.
So, how do you win against Zillow and take over “Mindshare” in your local community?
You can't do it entirely, but it'll come from getting close to your consumers and your community.
Why?
Zillow can't create relationships with specific people in specific communities. But you can… by developing relationships with your own audiences, showing expertise, and connecting with local businesses and charities. Highlight why you love your community through videos and social media.
When...
Hey, team, got two game-changing ideas for your upcoming Comparative Market Analysis (CMA). As you gear up for the next week or two, consider adding these to your arsenal.
Number one: Identify the strongest competitor and share this insight with the seller. During the CMA, explain, "Mr. and Mrs. Seller, we're diving into a CMA, much like an appraisal. Analyzing three sold properties, three active ones, and three that didn't sell. My suggested price is based on this, but I want to highlight a key competitor. This is the one we need to go head-to-head with. Buyers are likely considering these two listings, so let's be super competitive."
Number two: Distinguish between an as-is price and an improved price, especially for properties needing a bit of work. Frame it this way, "Like an appraisal, we can provide an as-is or an improved price. If we list it as-is, aggressively priced to sell, we're looking at this range. However, if you invest in a few improvements, I've got great...
Have you ever faced a bad review? If not, you will at some point in business. It's inevitable.
So, what's the game plan when it happens?
Here's a nugget: 94% of consumers, according to a recent study, let a bad review sway their decision to avoid a business.
You've probably done the same on Yelp or elsewhere. The key? It's not just the bad review itself, but how many positive reviews balance it and whether the business responded.
Surprisingly, 53% of consumers expect a business to respond to a bad review, yet 63% say businesses rarely do. Here's the kicker: 45% of consumers are still open to doing business with a place that got a bad review if the business responds.
The response is crucial.
So, how do you handle it?
Never argue, never say they're wrong. Instead, respond and swiftly take it offline.
For instance, "Thanks for sharing your feedback. Sorry your experience didn't meet expectations. Let's discuss this offline." Or, "Feel free to reach out with further comments. We're...
Hey, team, you're on prospecting calls today—reaching out to expired listings or for sale by owners, maybe marketing in a neighborhood. What if no one picks up? Do you leave a voicemail?
Before that, try this trick:
Hang up and call the same number quickly, twice. Imagine being on the other side—seeing a missed call, then the same number calling back. You're more likely to pick up.
Now, they still don't answer. It goes to voicemail. Should you leave a voicemail as a salesperson? Absolutely. The chances of circling back and calling again are low. Keep the message concise and to the point.
For an expired listing, I might say, "Hey, I'm Jim. Your property delisted today. Wondering if you're interviewing other agents. I have a 25-point marketing plan that works. Just sold a house nearby, 25 days, 5% over list price. Let's talk."
For a for sale by owner, a simple approach: "I'm J Man with ABC Real Estate. Saw your ad on Craigslist. Can I do a video of your property for...
There's a fantastic book I read years ago called "Positioning" by Al Ries and Jack Trout. It delves into the concept that our brains, like a whiteboard, need a space. As marketers, our goal is to occupy that space in the consumer's mind. However, with numerous competitors in the market, the challenge is stiff.
I appreciate the idea that it's not about what we want to say; it's about what consumers want to hear and learn from us. Consider the top four things consumers seek from a realtor: finding the right home, assistance with paperwork (part of negotiation), negotiating price, and negotiating terms.
Reflect on these four aspects—finding the right home, negotiations on price and terms, and paperwork. Are we addressing these in our marketing and branding? Shift from what we want to say to what clients want to learn. This transforms marketing into something people want to pay attention to.
Now, let's consider what sellers want. The top four things a seller desires: an expert in...
Hey folks, let's talk about the big picture in real estate—how long are you planning to stay in the game? Is it a year, two, five, ten, or even twenty? Are you testing the waters with just a toe in or is this a full-blown career for you?
Many agents tend to have a myopic view, making crucial career decisions based solely on today's market conditions. Yes, sales volume is currently at a 20-year low, but assessing your entire career based on a single down year is shortsighted.
If you envision being in the business for the next 10 or 20 years, one year of reduced sales shouldn't define your career. Recessions in real estate occur every 10 to 12 years, and what follows is typically a decade-long period of rising prices and increased sales volume. It's a market reset, not the end of the road.
For those considering exiting the industry for a "real job," think about the earnings over the next decade in that new job. If you're fortunate, maybe a...
Hey folks, I came across a fascinating study—it revealed that a whopping 74% of consumers base their business decisions solely on the brand!
Now, let's shift the focus to your personal brand:
Imagine stacking it against the top 10 agents in your community—just you, not who you're working for. How do you measure up? Does your brand stand out, exuding a modern and sharp vibe, or does it seem dated, like a relic from the '90s or early 2000s?
To make a mark, focus on clean, sharp lines. Forget flashy taglines and funky logos. Your brand revolves around a clean picture and a stylized version of your name.
Remember, you're a personal brand in the real estate space, akin to the likes of Michael Jordan or LeBron James. With countless agents in the field, the key is to separate yourself by having a consistent and clean brand integrated throughout your marketing plan.
Everywhere people look—your website, digital footprint, social...
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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!