As we approach the end of summer, many listings might still be lingering on the market. Currently, two-thirds of listings in the U.S. have been on the market for over 30 days, and 40% have been on the market for over 60 days. We're seeing more listings and less activity on the sales side, leading to a buildup of inventory and a shift toward a buyer's market.

If you have a listing that’s been on the market for a few weeks with little activity, try this script:

"Hey, Mr. and Mrs. Seller, this week I’m refreshing all my listings. Here’s what that means: I’ll be updating the lead photos so your listing looks new in the MLS. I’ll also revise the property description and review all the data points to ensure everything is accurate.

I’ll also schedule a 'meeting the market' to discuss any potential improvements to the listing. This meeting involves considering any incentives we might offer buyers or buyer’s agents. For buyers, we could consider...

So, how are you going to communicate your buyer agent commissions now that the MLS policies have changed?

We can’t list them in the MLS anymore, and agents and offices are coming up with different approaches. I want to share one of my favorite ideas that I’ve seen a few offices implement.

One office is using a Google Sheet—a live, online spreadsheet. The Google Sheet lists all their property addresses in one column and the corresponding buyer agent commissions (BACs) in another. It’s simple but effective. Since it’s a live document, you can update it in real time. The sheet generates a URL, so anyone with that link can access it and see the current BACs.

Now, here’s the cool part: With that URL, you can create a QR code using any free online generator. Attach the QR code to your marketing materials, and when someone scans it, they’ll be taken directly to your Google Sheet with all the BACs. As you add or remove listings, the document updates...

Question:

Who is your target audience?

When you are spending dollars, you need to target a specific audience. The big mistake most agents make is targeting everyone. They say, "Anybody thinking about buying or selling real estate, please contact me." This shotgun approach is very ineffective and can waste a lot of energy, effort, time, and most importantly, your budget and money.

You need to refine your message to target the specific audience you want to attract. This means you have to define who you're going after. Big businesses create what's called a persona—the exact person you're trying to get to respond to your message.

Maybe it's first-time home buyers, investors, or second home buyers. You might get even more specific, like targeting someone aged 45 to 55, who has owned their home for over 15 years, has a low mortgage, and wants to move closer to family and friends.

By the way, this is the #1 seller in today's market in 2024.

If I'm targeting this kind of seller, my...

Did you know that real estate is one of the best hedges against inflation? Even though inflation is starting to come under control, it’s still a big issue for most Americans. One of the biggest impacts on the average American is rent costs. Rent has been flat for a bit, but it’s starting to rise again. In June 2024, rents went up by 3.5%, the highest increase in about a year.

This is a great opportunity to talk to renters in your community about how they can get ahead of rising rental prices by buying a home.

Here's the message:

"Hey guys, you might not have heard, but rent prices have gone up 3.5%, the highest in over a year. Because of that, you might want to start considering buying a home. Yes, interest rates are a little higher than we'd like them to be, but when you buy a home, as long as you can make that payment, it stays stable for the next 30 years. The only things that might increase are your taxes and interest, but your core payment remains the same.

Imagine...

June was Homeownership Month. And as a REALTOR, your job is to emphasize the value of homeownership. It's the product you sell, and you need to let people know that being a homeowner has significant financial advantages.

Here's the first one:

The average homeowner has 40 times the net worth of the average renter.

Why?

The number one reason is that every time you make your monthly mortgage payment, a portion goes towards principal reduction. It's like a forced savings account, building up over time. When you sell the property, you benefit from this accumulation.

Additionally, you have appreciation. Every year, the home's value increases, sometimes more, sometimes less, but over a 30-year mortgage, the property value generally rises.

On top of that, homeowners receive substantial tax benefits that renters don't.

These are three key reasons why someone should consider becoming a homeowner today.

Your job is to provide people with a path to homeownership. The biggest resistance point...

Interesting new data shows that 63% of home buyers who purchased a home after the pandemic believe their home will be impacted by climate change at some level. Realtor.com found that statistically, 44.8% of homes actually will be affected.

Regardless of the numbers, it's clear that climate change is on the minds of our clients.

What matters is that your clients believe it, and insurance companies believe it too. Insurance rates have skyrocketed over the last few years due to environmental impacts like floods, hurricanes, and fires. These natural disasters cause insurers to take losses, leading them to ramp up their rates in anticipation of more such events.

As REALTORS, you can serve your clients by addressing this issue. Say to them:

“You probably have seen your insurance rates going up. Part of the reason for that is environmental impacts across the country. I've got a great insurance agent who can shop your rate and find the best deal for you. Also, if you want, I can give...

It's hard to believe, but sellers are greedy. We all are, right? When we sell our homes, we want the maximum amount we can get.

The problem is that many agents will "buy" a listing, especially in this desperate market. We're finding listings, but many agents are hanging on by their fingernails, willing to do anything to get a listing. That's not how we do business. We need a script that addresses the greedy seller.

Here's a script I'll call the "100% Script." If I'm sitting across the table, I can say…

“You know what? Many people don't realize this, but statistically, in our market, only about 60% of the time do listing agents sell the listing the first time. They list it, put it on the market, do the marketing, but then the home doesn't get an offer or the right offer, and you have to list it with another REALTOR. I don't want to do that with you. I don't want to waste your time or effort. I want to give you a different experience because my goal is to sell 100% of the...

Hey guys, price drops have hit an 18-month high. Here are three stats you need to know:

1. In May, 6.4% of home sellers dropped their home prices. In the last week of May, home prices actually came down by $3,000.
2. This is the first time home prices have declined in the last six months.
3. Homes are also staying on the market longer, now averaging 46 days. We are seeing more stagnation with listings.

When analyzing the market, we consider supply versus demand. We still have very low supply, but demand is decreasing due to high interest rates and record-high home prices. This combination makes affordability tough for many home buyers.

When discussing this with sellers, it's important to explain that a market can have pricing power or pricing pressure. For years, sellers had pricing power due to low supply and high demand. Now, with demand dropping, pricing pressure is entering the market.

The best time for a price adjustment might be surprising—it's at the listing appointment. At...

What is a success portfolio for a real estate professional?

Well, if you've ever gone to a photographer, architect, or even a wedding planner, you'll often see a book of their work—a portfolio. This showcases what they've done for other clients in the past.

Think about yourself. We often have listing presentations and now even buyer presentations, but do we have a portfolio of past performance?

This portfolio can be the pre-listing kit you've always dreamed of or the pre-buy meeting kit that will really motivate and inspire people to want to work with you.

So what would you put into this success portfolio? Of course, you'll include the properties you've sold and testimonials from other clients. You can also add marketing examples to show what you've done to market properties on social media, with flyers, with postcards, and even in a digital presentation, including video.There's a lot you could include in this presentation to make it really come alive and pop.

Now, imagine 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...