Question: how fast do you pivot on price when you list a property?

Sometimes we get it right, and sometimes even the best of us get it wrong. When we get it wrong and don’t pivot quickly, we risk missing the opportunity to sell the property for top dollar.

So, how fast do you pivot? Do you wait two weeks, three weeks, a month, two months? Are you setting that expectation upfront with the seller?

Here’s a study from ShowingTime. They’re integrated with many MLSs across the country and help schedule showings. Because of that, they have their finger on the pulse of showing activity.

Their study, based on tens of thousands of showings, shows that after the first five days, showings plummet on most listings.

Why? Because when a listing hits the market, all eyes are on it. Most buyers—probably 95% to 99%—are set up on portals like Realtor.com, Zillow, or your website. When that listing hits the MLS, the entire backlog of active buyers sees it almost immediately.

Hundreds of buyers look...

As a REALTOR, you've heard the word farming, right?

Well, I want to give you a different thought process on farming that I think will be really unique:

Instead of doing a shotgun approach where you're sending out a generalized postcard or letter (which can be effective if done right), I want to introduce you to what I call “Vertical Farming.”

So instead of reaching out to 200 people, reach out to 20. And with those 20 people, go deep.

Here’s how: I might send them a CMA or a neighborhood report (both of which you can generate for free at NAR.com if you're a REALTOR). That system allows you to create a beautiful 81-page report on someone’s home anywhere in the country.

You can choose between a seller report or a neighborhood report (which might be shorter, maybe half the size).

Then, add a cover letter that says something like:

“Hi, my name is Jim. I'm with ABC Real Estate. I'm reaching out to a select handful of people in your neighborhood today to give you a quick update on you...

Quick question:

What is in your buyer presentation right now?

With the NAR settlement just around the corner, you need to address what you’re doing about it. One thing you need to do is have your buyer presentation dialed in.

Here are 11 things to include in your buyer presentation post NAR settlement:

1. The Search Process: This can't just be you searching the MLS. Buyers can do that on Zillow or realtor.com. Go further by curating listings, hand-selecting the best fits, and commenting on each one. Be involved in the search process daily.

2. No Stone Unturned: The best listings sometimes don't hit MLS. Look at for-sale-by-owners, expired listings, and network with other REALTORS on coming-soon listings. Canvas neighborhoods to find potential sellers.

3. Research Process: Dive deep into any specific home you're interested in. Check permits, architectural plans, disclosure statements, plat maps, aerial maps, assessed values, and neighborhood trend lines. Interview neighbors to gat...

Are you actively farming your own neighborhood?

It's a straightforward marketing strategy that many agents overlook. So, why should you consider farming your own neighborhood?

Well, it all comes down to the fact that people prefer doing business with those they know, like, and trust, especially when they share a common bond.

When you live in the same neighborhood, potential clients are more inclined to choose you as their REALTOR. However, this won't happen if you're a "secret agent" – someone they don't even know lives nearby and can serve them.

To get started, you need to establish yourself as a local expert.

How?

Begin by introducing yourself through a letter or postcard. Let them know you're a resident and express your interest in being their preferred REALTOR. Share your credentials and accomplishments to give them confidence in your abilities.

Next, demonstrate that you're an active agent. Regularly send updates about just-listed, just-pending, and just-sol...