I have a quick question for you:

Are you marketing your marketing?

You might be wondering what I mean by that, right? Well, let me explain: As real estate agents, we do an amazing job for our clients. We use drone photography, staging, postcards, social media marketing, and more to showcase their properties. We go all out to sell their homes in record time and get them top dollar.

But who actually experiences all of this marketing? Sure, the buyers who purchase the property may see it, as well as a small group of people in our closest network. However, not everyone is seeing all of our marketing efforts. In fact, on social media, only about 4-6% of our audience is actually seeing our posts.

So, how do we market our marketing?

One approach is to create a success portfolio. Whenever you have a beautiful, photogenic listing, go all out and create a home book, do exclusive videography, Matterport, and everything else....

Today I want to talk to you about the current state of the real estate market:

There's 67% more inventory on the market today than there was a year ago at the same time, which is more than before, but we still need way more inventory than we have today. When you start to see listings linger, you need to remember that there are two types of markets: listings that come into the market and sell instantly with multiple offers still happen today, but then you have another group of listings that hits the market but then just lingers.

When you're talking to sellers at a listing appointment, it's important to talk about being competitive or looking at comparable sales data. Comparative versus competitive sales data is a very important concept that most REALTORS never talk about with their seller clients.

A comparative market analysis, or CMA, is what most REALTORS use to determine a home's value compared to...

I have a challenge for you today:

I want you to imagine that you're a buyer who just landed in your area and has no knowledge about any REALTORS in the marketplace. So, go ahead and search for homes for sale in your market and see what happens. You'll likely be directed to realtor.com or Zillow. Now, pretend you're a buyer and go through the process of searching for a home on these websites.

As you go through the process, you'll notice that the algorithms push you through a funnel. The first thing they'll ask you is what price point you're looking for. They'll give you a list of price points to choose from, and very rarely will buyers type in a specific price. Instead, they'll be guided to choose a range from a dropdown menu.

Then, the algorithms will ask about bedrooms, bathrooms, and square footage before pushing the buyer further into the system. It's important for us as REALTORS to understand how the algorithms...

I have a concept called "anchor point pricing."

Here's what it means:

During a conversation about price with a seller, I bring up the neighbor down the road who listed their property but didn't really want to sell it. They overpriced their house and have been chasing the market down with four price reductions in the last 90 days. Their home has become stigmatized and people think there's something wrong with it, no matter how low they price it.

I never want that to be the case for my clients, and you shouldn't either.

In this market, first impressions are critical:

The longer a property is on the market, the less it gets.

That's why we use anchor point pricing. Every time potential buyers drive by the overpriced neighbor's listing, they're reminded that they don't want to end up like that person. This conversation can be powerful when someone is on the fence about overpricing their property.

Want more secrets like this 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:

Attention
Interest
Desire
Action

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.

The...

I want you to think about how many homes you sold last year that were your listings. So let's assume you sold 10 listings or five listings. What if I told you that you could take that 10 in times by five and have 50 transactions as a result of those 10 listings? Or if you took five listings, you times out by five and you could have 25 transactions. Does it sound impossible? It's not impossible. It's totally doable. You just gotta rethink how you're approaching your listings.

What smart, wise, savvy agents do, superstars do is they say, "Hey, I've got one listing and I can turn this into five transactional sides. Now how can we do that?"

I'm gonna walk you through it right now.

What are the five transactional sides that we create?

1. 1. Sell the listing that we take
2. Obtain a triggered listing
3. Convert a buyer who calls or attends an open house for the listing
4. Find sellers at your open house
5. Turn your seller into a buyer and sell them...

About a year ago, my wife and I decided to downsize as we hit our fifties. We have four kids, but three of them had already moved out, leaving us with just one. So, we moved from a bigger house into a smaller one. We realized that there are a ton of people just like us all around the country.

Before we downsized, we used to live in a big house near a golf course, and whenever we received marketing from REALTORS, it was always the same thing: The marketing was all about them getting a listing, and we could read right through it.

They just wanted our commission, and it wasn't very effective.

Over the years, we received door hangers, mailers, and all sorts of stuff, but as a REALTOR myself, I couldn't help but wonder if these methods were effective or not. Sure, anything is better than nothing, but what can you do to be more effective?

The key is to focus on the why of someone considering making a move, instead of what you need.

Why...

Okay guys, we all know that there's not enough listings to sell in our markets across the country, but there's still pretty strong buyer demand despite the interest rates. Every agent that I talk to has buyers, but their biggest struggle is finding buyers' homes. So what we need to look at is a deeper level, we'll call it, underneath where the market is seemingly at. We see that there's just, on the surface, it doesn't look like there's a lot of listings, but underneath that, just boiling underneath is what we can call shadow inventory.

I'm gonna give you a classic example:

I sold my house about a year ago, but for about six months leading up to that sale, I would have sold my house. And what I mean by that is we put the home on the market, you know, and we then sold the house. But I would have sold before that. If an agent had approached me and said, "I've got a buyer and I can sell your house today," I would have absolutely signed...

Hey guys, do you want to be a little bit more assertive, not aggressive, but assertive in your market? Let me give you a technique, a tip, and I love this idea. It came from one of my coaching students, and that is the idea of a real estate resume.

So, you are interviewing for a job when you're working for a buyer or a seller, and how many times in the real world, when you get a real job, you have to turn in a resume almost a hundred percent of the time. But what if you just become proactive and you create a real estate resume and you give it to everybody in your database? And you say, "Hey, I'm accepting new buyers and new listings for the spring market coming up, and I just thought I'd give you my real estate resume that you can share with your friends and family about my background as a realtor and my qualifications to help them with all their real estate needs. Here's a copy of it. Feel free to share it with your...

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...