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 [...]
by Denise Lones
Many real estate agents get stuck and stop making progress when they don’t see immediate results.
The key to mastering any business is to keep taking the action you need to improve.
However, if you focus on the action rather than the results, the results will come.Here are 10 ideas to jump start your business with action:
1. Send every one of your past clients something about the current real estate market. A mail piece or report that is well thought out and that educates your clients on what is going on in their local market is a great way to connect. Past clients are a wonderful source of referrals and past business, however, a small percentage of clients use their agents again due to a lack of “connection” (which is another way of saying that you forgot to keep in touch with them). This data base of clients is your “gold mine” and you need to take care of them. When you need to increase your business, put together a mailer which includes quality, relevant information. Follow up with them to make sure they received it and to see if they have any questions.
2. Focus on connecting with people and being present in public. Real estate is a people business where success depends greatly on your ability to make connections with people. As an agent you need to stay in the forefront so potential clients can see you and get to know you before they hire you. Make a plan for the year [...]
“Often the only thing that stands between a person and what they want from life is merely the will to try it and the faith to believe that it is possible.” ~Richard M DeVos
If you want to increase your income you can either increase the number of transactions you do, or you can make a higher profit on the transactions you close.
Because most people focus on the first option, lead generation and prospecting are often the topic of training and coaching with endless options for generating more leads: paid advertising, lead capture websites, direct response marketing, etc., etc.
Much less attention is given to the second option, increasing the profit from your listing transactions, which we’ll be demystifying for you in this article.
There are really only three basic ways to make more from each transaction.
1. Transaction fees 2. Charging higher commissions 3. Referral fees
Before you start thinking, “Oh, that can’t be done in my market, or in this economy,” let me assure you, it can be done and there is only one thing that stands between you and higher commission checks.
Fear of asking for more money, fear that you aren’t worth more money, and fear that your client won’t think you are worth more money. The way to overcome this fear is to be prepared ahead of time and understanding a bit of psychology to help get what you deserve.Transaction fees can be charged [...]
Dead beat buyers! Ugh!
They can be like a vampire sucking the life out of you. So why are you holding on to these people? You know you should let them go but you don’t.
Don’t worry my friend. I’ve got your back… In this article I will help you get free of Dead-Beat Buyers and reclaim your dignity, joy and personal power. Sound good? Let’s do this.
To start, let’s do a little ‘be-honest’. You already know what you need to do. You need to drop them. But you don’t. Why? Maybe you’re addicted to suffering. Maybe you’re codependent. Maybe you are starry-eyed and optimistic. I don’t know.
What I do know is that if you are reading this article, then you realize you have a problem. You realize you’re pretending like they are going to buy any day now, right? “Matthew, I just have to show them one more house. I can’t let them go! What if they buy from someone else? I’ve put in so much work.”
The list of reasons goes on and on. And, I know… It’s okay. It happens to the best of us. But it’s time for a change. Let’s get your power back starting now.
The first step to solving any problem is the awareness of the cause. In my Mindset Methodology I call this ‘The Game Changer Process’. Awareness of a problem instantly makes you more flexible because you don’t want to keep [...]
Recently I had a discussion with Heather, our project coordinator, regarding the importance of agents keeping things organized in their business. Whether that is organizing your files, systems, or even your time, each is critical to an agent’s success.
As Heather puts it “good organization is key to a successful transaction and being organized saves you time, money and potential transaction mishaps.” I couldn’t agree with her more. Here are some of the great ideas that came from our discussion.