Unprecedented times call for unprecedented action.
Generally reserved for their own internal training and advancement, EXIT Realty steps up big time with this public share from a few of their best and brightest.
Listen in for practical strategies and tips to help steady your share of this shaky market… and perhaps even pick up some new business in the process!
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Message from EXIT Realty…“When you’re down, reach up and when you’re up, reach down.” Words spoken by our Founder and Chairman, Steve Morris. At EXIT Realty we’re focused on providing support, elevating confidence and increasing focus, so we assembled a team of industry experts to join Annette Anthony, our Vice President of Technology Engagement, to contribute their best advice. During this conversation with panelists Chantal Traversy, Sheryll White, Nick Libert, Janice Petteway, Sharron Richardson and Samantha Morris you’ll hear how to handle current listings and generate new ones; help buyers and follow up with clients, and leverage your time wisely with productivity to help keep you focused. In addition, you’ll learn about opportunities in the real estate market today, creating a continuity plan, tips for your [...]
by Rich Levin, Real Estate Grad School
When we started to work together Carol cried every time that we had a coaching call.
She was struggling despite making a decent income in real estate in addition to the modest salary that her husband earned as a manager of an auto parts store.
Four young adult children with tuitions, travel, weddings, showers, enjoyment, and helping them get started was expensive. His income was fixed. She knew that it was up to her to raise their income.
Carol’s story is, unfortunately, a common one.
Real estate agents learn the basics of the business, begin to enjoy the commissions and freedom. Then after just a few years most plateau. They get stuck at an unsatisfactory level of income. Still knowing that there is so much more potential and they are capable of achieving it. Yet, it eludes them.
There is a way out of the real estate production plateau.
Maria Sharapova, the Champion Tennis Player, and Entrepreneur wrote in her book Unstoppable:
“Repetition creates discipline. Just repeating a thing, perhaps inconsistently at first, then with more consistency creates a feeling of the repetition that leads to discipline.”
Steven was an Agent with a wife, three children with a fourth child on the way. He told me that he wasn’t earning enough to afford his life. He said that what stood in his way was a lack of [...]
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 [...]