I’ve worked with thousands of real estate agents at all levels over the past 30 years.
Two of the most common problems I see with coaching clients, and for that matter the biggest reasons for failure in this industry, are…The notion that somehow working harder will make up for working smarter. Fear of asking for what one is worth and deserves.
Here’s a few of my favorite strategies to overcome both of these obstacles, set you apart from the average agent, and lead you to greater profitability…
1. Raise it.
Before the listing appointment, fill out all paperwork with your new rate (7% maybe?) and make it business as usual. Scared? Well, make a great listing presentation, don’t leave until you get the objection, and learn how to overcome the objection. If you have to, drop it back down to your old retail rate but only after much hesitation.
2. Email new listings.
Send new listings to your database immediately, hours before it hits the MLS. This is a two-fer:
#1 – It keeps your database informed with “secret” pre-listing information, but with your “permission” they can forward this hot info on to their sphere.
#2 – You make more double ends with new people.
3. Institute a cancellation fee.
Many agents allow sellers to cancel listings with a guarantee stating they can [...]
Here’s a checklist of ideas to educate your prospective sellers on the pitfalls of selling their home and help position yourself as the local expert.
Just one more piece of collateral to add to your lead conversion and follow up tools as a free download on your web site, addition to your email auto responder, or through your client e-letter.
Pick out those that best suit your business strengths and modify to make it your own.18 Mistakes Most Sellers Make When Putting Their Home on the Market Pricing your home too high: Have a professional determine comparable sales and listing competition. You want top dollar, and you want all the buyers to see your home. The top agents know how to walk that fine line. Small repairs bring big profits and fast sales: Have a professional give you low-cost solutions to minor repairs that will yield big profits. I arrange for a professional inspection for my sellers so we are actually selling “pre-inspected properties”, which is another reason why I get more showings for my sellers. Not considering other financing terms (besides cash): Have a professional give you options that may be better than cash for you, the homeowner, and financing options that excite a buyer. All of my sellers have a flyer that we give them on the “Fifteen Ways a Buyer Can Finance” detailing how new buyers can finance your home. Market Timing: Have a professional determine if the market cycle is poised to net you [...]
There are only two goals after you’ve qualified an expired listing lead:
#1 – To determine if there is still motivation to sell
#2 – To obtain an appointment for a listing appointment
Here’s a few ideas to help you handle the most common objections on that first call…
1. If the seller says they are considering re-listing with the same agent, congratulate them and ask if they’d like their home evaluated from a fresh perspective.
Tell them your evaluation will consist of new ideas they may not have considered that could even result in a higher net. You can tell the seller there’s no pressure and they can even share these ideas with their original agent should they choose to re-list.
The secondary effect of this appointment (which you should tell them) is the more you become educated on their property, the better the chance you have of explaining and selling it to your buyer database.
Once you meet with the seller, show them your plans and how you put their needs in front of yours — they may just consider not renewing with the prior agent and try the marketing process with a new enthusiasm through you.
2. If the seller says they would like to wait a while, remind them of their original motivation.
Typically, motivation does not reveal itself on the first question. For instance, if they say they would like to move to the Midwest, you might [...]
Regardless of your religious beliefs we can all learn from Leviticus 19:18a: “Do not seek revenge or bear a grudge against one of your people, but love your neighbor as yourself.”
The real estate business gives a lot of opportunities for pain from other people: sellers who waste your resources with unrealistic expectations, buyers who cannot pull the trigger, cooperative agents who don’t do their job, and peers who usurp your clients.
Many times, you cannot foresee the pain from a client, and it becomes a necessary part of our business that comes from us working for free until closing. Coping strategies become necessary.Get over it as soon as possible.
Ephesians 4:26a: “Do not let the sun go down while you are still angry….”
Don’t seek revenge or hold a grudge. Personally, I must tell you it has been the hardest lesson I have ever learned and still fight with it! When I follow God’s Word to love my neighbor who I perceived has wronged me, the pain goes away and God provides other opportunities.
“But Walter, you are a business man. What if we are talking some real money that you are entitled to under contract?”
Paul gives instruction to that question also (I Cor. 6:7-8): “The very fact that you have lawsuits among you means you have been completely defeated already. Why not rather be wronged? Why not rather be cheated? Instead, you yourselves cheat and do wrong, and you do this to your brothers and [...]