High-dollar home sales make up one of the most sought-after niche markets for agents – and one of the most intimidating. The clientele and the properties in this category can radiate a sense of exclusivity that seems untouchable to new (or even seasoned) Realtors®, with those extra-padded commissions only existing in their dreams.
You just managed to get all your listings into escrow. Time to celebrate, right? Not so fast. It suddenly hits you that now you have no listings to show buyers, no more guaranteed commissions, and you basically have to start all over. Talk about a buzz kill.
What’s the most common word real estate agents hear on a day-to-day basis? That would probably be “no.” In fact, it’s not at all unusual to hear a long string of “no’s” before getting to a “yes.” If you’re in real estate, you’re basically in sales with your career constantly relying on new business for continued growth. Unfortunately, society has become so indifferent to, or even suspicious of, “sales speak” that it’s almost a reflex to say “no” when potential clients are approached by an agent.
As a Realtor®, it’s up to you to find your own clients, build your own business, and work for yourself. You know that your success depends heavily on the trusting relationship between you and your client.
Ah, the paradox of choice. We are obsessed with having options for everything, and are even more obsessed with making decisions. Complain though we may, being deemed the “decision-maker” feeds us with such a sense of importance that we tend to ignore the agony that comes along with making so many decisions.
It’s no surprise that sellers want to get top dollar for their beloved house. Can you blame them? They’ve likely put a large amount of money, time and love into the home, and they don’t want it to go unappreciated or undersold. But listing a home at a high starting price can be disastrous for the sale. Two recent U.S. News & World Report articles refer to the “list high, lower later” concept as both a ubiquitous real estate myth, and a sure-fire way to plummet a home’s selling price.
As many agents know, working in real estate often means being subject to the whims of events out of your control. This includes, but is not limited to, fickle buyers and sellers; a drastically-fluctuating housing economy; and natural disasters that may strike in your local market.
Home trends come and go, but one thing that is here to stay is home automation. Home automation refers to technology that automatically controls various parts of a home’s ecosystem including climate, lighting, and entertainment.
In our last article, we talked about the importance of home staging and how 77% of agents believe it made an impact on a buyers’ final decision. The statistics, as reported by the National Association of Realtors, demonstrate the need for an agent to seriously consider home staging.
A significant part of an agent’s pitch is selling the lifestyle that comes with a certain property. Even experienced buyers sometimes struggle with envisioning what their lives will actually look like in a property that seems to check all the right boxes. This is when the process becomes more about the “feelings” a property generates and less about the numbers.
A property listing is often the first encounter a potential buyer has with a property and can be the difference between a successful sale and a “pass!” Listings might seem tedious to write, but think of them as your sales pitch – this is a buyer’s gateway to working with you, so it’s important to make a great first impression for both you and the property.
As each generation comes of age, they also become prospective homebuyers. Although there is no shortage of challenges for younger generations, homeownership is still a goal that many aspire to – largely thanks to the abundance of media that showcases the joys and struggles of homeownership.
When you’re not marketing or working to improve your business, you’re likely out with clients conducting showings and facilitating deals.
What Realtor® isn’t constantly on the go? Few things have become more beneficial to Realtors® than a smart phone to help you work and prospect while you are out and about.
Once you delve into the world of blogging, it’s hard to ever leave! If you’ve been following our blogging series (part one and part two), you’ve likely begun your own blogging journey.
You’ve set up your blog, and you’re ready to go – but now the blank page stares back at you, and you have a meeting to go to and phone calls to make. How are you ever going to find time to write and promote content for your blog?
Being a successful Realtor® means demonstrating your value over and over again, and in order to do this, you need a platform where you can share your valuable knowledge. Increase your influence and entice prospective clients by starting a blog! You may be hesitant to spend time on something that doesn’t reap immediate rewards, but we’ll show you the true value of a routinely-updated blog.
In business and in life, time is money! Think of all the time you spend every day tackling tedious, menial tasks, such as emailing, scheduling, and organizing. It’s not that these tasks aren’t important – they certainly are! – but the time spent doing them takes away from time that could be spent on building relationships with clients and strategizing your long-term business plans.
What distinguishes a good Realtor® from a GREAT one? A successful, savvy agent makes continuing education a priority. The world of real estate is ever-changing, and agents need to constantly evolve with it. It’s not enough to just follow the market — Realtors® need to be on their game and constantly trying new approaches to earn and retain clients.
Expanding your network and developing meaningful long-term relationships with clients might seem like lofty goals, but what if we told you it’s not only possible, but it’s something you already do every day?
If you haven’t yet joined the 124 million Americans who have caught the podcast bug, now’s the time! (And if you have, congrats! You’re riding the rocket of one of today’s most popular and influential forms of edutainment.)
Marketing has come a long way! In the old days — and we’re talking medieval-era days — merchants would hire young people to shout their offerings to passers-by in the town square. This eventually gave way to a more “sophisticated” form of communication: communal bulletin boards.
Effective, innovative marketing is a must for all successful Realtors®, but choosing which strategies are most worth your time can be tricky. This is often why Realtors® put social media marketing on the backburner: the results aren’t always immediate, and building a following specific to your business takes time. But, if done with purpose, developing a social media following can expand your network by thousands!
Social media is an undoubtedly valuable marketing tool for Realtors®, but be advised, not all platforms are equally effective or worth your time. Instead of rushing around creating profiles, writing daily marketing posts, or running ad campaigns on every media...
Facebook is, without a doubt, the most popular social media platform in the world. More than 1.3 billion people use Facebook, which means that it’s the ideal platform for real estate marketing, right?It can be, but it’s not as simple as making a “Page” and hoping people flock to it. Facebook is valuable, but sometimes you have to dig deeper in order to unearth its treasures. Part of that digging means keeping astride of the infamous “algorithms,” understanding how they affect you, and weeding out fact from fiction.
Did you know it takes just 5 to 10 seconds to form a first impression? Yep, it’s that fast. So, let’s say a potential lead lands on your website or social profile. You basically have 5 seconds to hook them! Don’t panic. We’ll show you how to use the power of video to capture them, hook, line, and sinker.
Do you want to catch the attention of new leads in your market? Are you willing to try something totally crazy that will get you TONS of new leads with minimal effort?
Try this: direct mail.
As unexciting as it might sound, dropping a personalized brochure, postcard, sales letter, or other marketing piece in the mailboxes of your clients and potential leads is an effective way to cut through the digital noise…
There are many words one can associate with Florida-based Realtor® team The Jills, including luxury, elegance, and sophistication. What do The Jills have that less-successful Realtors® don’t? Memorable branding.
The new year is a great time to kickstart your real estate business, and what better way than to follow the advice of the most successful Realtors® in the world? The best way to learn from the experts in real estate and business is to go straight to the source — their books! These six must-reads are all new books, released in 2017 or coming out this year, so the valuable information is recent and relevant.
Vilfredo Pareto, a prolific Italian economist from the late 1800s, said that 20% of events cause 80% of the effects. This may sound complicated, but it’s a simple formula that applies to every type of business, activity, and industry, including real estate.
The most important tool in a real estate agent’s toolbox is their database. Your database is the culmination of all of your outreach and marketing efforts, and it’s the heart of your business, storing the information of all the people you’ve worked with over the years.
But your database is only what you make it. This is where a customer relationship management (CRM) database comes in.
Lead generation: it’s a sore topic for many real estate professionals, but it’s crucial for growing your business and becoming a top producer. What’s the best way to generate more qualified leads in less time? The options are practically endless, but we’ve done our best to identify a few of our favorites.
It’s time for the last two habits in our series of “five habits of highly-successful agents.” Though habits #4 and #5 may seem relatively unimportant and even easy to dismiss, do not be fooled! Developing and practicing these two habits are an essential part of achieving top producer status!
It’s time for some brutal honesty: Do you fall short when it comes to initiating and returning phone calls or emails? Do you often fall back on texting or emailing clients, even though you think a phone call might be more effective? Or maybe you’ve already lost a client due to less-than-par communication skills. (Sometimes it happens and we don’t even know it!)
Effective communication is a tenet to becoming a successful agent, which brings us to #3 in our series of top producer habits:
Do you ever feel like you are going nonstop, taking care of business – but you don’t have time to actually produce more business? Like your career is hitting a plateau even though you are working harder than ever?
This brings us to Top Producer Habit #2: They delegate!
This article the first in a 5-part blog series that explores five key habits of highly-successful agents.
As a real estate professional, odds are, you’re working for yourself. Even if you operate under a large brokerage, you essentially run your own business. It’s up to YOU to make your deals flow and your income grow.
All real estate agents experience ups and downs in the market. Maybe you’ve had a few slam dunks, and they were very exciting and motivating — but then things dried up, and you suddenly realized that, in order to be a success in this business, you have to know not only how to sell houses, but also how to sell yourself!
You want to do well. You want to be a top producer. That’s why you got into this business! But, what separates the average-producing agents from the TOP producers? What are their secrets and how can you achieve their level of success? If you want to experience success in any area of life, it is essential to do one thing: create good habits — both personally and professionally.
Remember when you were a teenager and you thought you knew more than your parents about life? Well, sometimes clients have that same attitude toward their real estate agent. In recent years it has become even worse due to the excess amount of information online that may or may not be accurate. This can be frustrating for experts like you, who have spent countless hours in classes and have years of real experience under your belt. This problem is much easier to manage when you understand what common beliefs your clients might have and you are prepared to explain why that might not be the case.
First, let’s look at 3 buying myths that need busting:
An effective open house is one that generates a buyer for the house you are selling, right?
A truly effective open house should generate a buyer for that house, AS WELL AS produce multiple future clients in the neighborhood and beyond! Think about it: an open house gives you access to a bunch of people who are thinking about buying or selling a home, whether it be the one you are showing or one that is similar. Take advantage of this opportunity to convert attendees into leads!
Here’s a step-by-step guide on how to get it done:
It’s the juggernaut of social media. It’s the first place many of us go for interaction, laughs, news, and recommendations. For real estate agents, it could be an incredible lead source. The question is: Are you using Facebook to its full potential? The depths of...
August is coming to an end, kids are going back to school, and football season is kicking off. Before we know it, the grocery store aisles will be filled with pumpkin-flavored everything. Fall is quickly approaching, and this could mean a surge in home sellers wanting to get their house listed before winter sets in – good news for you!
With your help, sellers can stage their home to create all the comfy feels that fall brings without having it look like a pumpkin patch exploded in their living room.
Here are a few ways to stage homes seasonally and effectively: