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[Podcast] Insider Tips for Agents, Buyers, and Sellers with Melissa Herdman
Ever had a buyer quit their job on closing day? Realtor Melissa Herdman has, and she shares her story in Leigh Brown's aptly named podcast, Crazy Sh*t in Real Estate. But that's not all that Melissa and Leigh discuss. Tune in to hear Melissa's wise advice for both agents and clients trying to weather this crazy market, as well as: Reasons to get into real estate Keeping agents happy and building a great brokerage culture What buyers should keep in mind during closing Why there's truth in that old saying, "Everything happens for a reason" About Melissa Herdman Melissa Herdman is a full-time REALTOR® and a lifetime resident of Osage County. She is currently the supervising branch broker of Kirk and Cobb REALTORS® and is a Certified Residential Specialist. She graduated with a degree in Bachelor of Science in Nursing at Washburn University of Topeka. She proceeded to have her Master of Science in Nursing at the University of Kansas Medical Center. She is a member of the National Association of REALTORS®, among several other organizations. Listen on: Apple Podcasts Google Podcasts YouTube View the episode homepage for show notes and more details.
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5 Things Your Broker Is Too Nice to Say (But You Need to Hear Anyway)
Is a tough real estate market the right time for some tough love? It is if you're using the market as an excuse to be complacent, says Jimmy Burgess, CEO of BHHS Beach Properties of Florida. "One of the most important things we can do is have people be real with us right now when the transaction is a little more difficult to come along," Burgess says. "Now is the time that you need somebody that's going to be honest with you, that's going to call you out on a few things." Burgess shares a little tough love in the video below — five things you may not be hearing from your broker, but need to if you're going to thrive in the current market. Read on for a bit of wisdom distilled from each of Burgess' five points (plus a few extras from us): 1. The Market Is Tougher, You're Getting Softer When the real estate market rockets up like it has in recent years, it's easy to "get a false sense that we're better than we are. We can begin to just kind of accept what comes to us instead of going and making it happen." The fix? Be proactive instead of reactive. Make calls, host open houses, cultivate a geographic farm if you aren't already. 2. You're Blaming the Market and Your Broker for Your Failure Instead of Taking Responsibility and Doing the Work Ever find yourself falling back on excuses like these to explain lackluster performance? "If my split was just higher," "If I just had more support from a marketing team," "If I just did these things…" The fix? Stop the excuses and realize that you're in control of your situation and take responsibility for your own success. Are you truly unhappy at your current brokerage? Don't wallow — consider switching. 3. You're Not Facing Your Fears Are you letting your fear hold you back — the fear of being hung up on, the fear of what you look like on video, the fear of putting yourself out there and trying something new? The fix? Stop playing small. "Those that push past their fears right now when everybody else is freezing or they're stalling or they're not sure what to do those are the people that are setting themselves up not just for success now, but to have a business that continues to grow not if, but when, [the market] takes off." 4. You're Reacting Incorrectly to Adversity Some people freeze when faced with adversity. The successful, however, recognize adversity as an opportunity. The fix? While other agents are pulling back, recognize that "now is the time to understand adversity creates opportunities to build long-term relationships." Turn to your database to deepen relationships and build business that bears fruit in future. 5. You've Got to Do Different Things to Get Different Results "What got you success in the past is not going to get you success going forward," says Burgess. The fix? "Hard work is absolutely 100% undefeated. If you'll work harder this year, if you'll take more action, if you'll do new things, you're going to get new and different results." This can include leveraging your MLS's public records system to find listing leads, texting, trying a new-to-you source of lead generation, and more. The Road Ahead Tough love doesn't have to be painful, and it doesn't necessarily even require big changes. Instead, Burgess says, "if you can just make a small adjustment, it can change everything and make sure that you're one of those people [who] is thriving, not just surviving, during this time." Related Reading Stressed About Low Inventory? Read This. Be a Better Realtor: 36 Tips and Tricks on Productivity, Goal Setting, and Self Improvement
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Road Warrior Checklist: 30 Things to Keep in Your Car
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From Buyer's Agent to Listing Agent: One Realtor's Story
It's no secret that being a listing agent is potentially more lucrative than being a buyer's agent. You don't have to accompany clients to multiple properties for showings, or submit bids that may be lost to cash offers — and if you have a listing, there's an excellent chance it will sell for asking or above in today's competitive market. But being a listing agent is no walk in the park, especially with fewer homeowners willing to enter the market at all. So how do you transition to working with sellers rather than buyers — and do it successfully? Brandon Watts, a Realtor from Gainesville, Georgia, knows exactly how, and he shared his story in a recent video interview with real estate broker and coach Brandon Mulrenin. Early challenges Watts entered the real estate industry in 2016, and initially focused on buying leads from Realtor.com and Zillow, and "working mainly just a lot of buyer business, running like crazy, all kinds of hours working seven days a week. I mean, I'd get a lead [when] I'd be in the shower — I'd jump out of the shower and call them." Watts then joined a team where he worked mostly Zillow leads, but says he was met with a lack of direction on listing appointments, and struggled to acquire clients and close deals. "I remember going to [my team lead] one time and saying, 'Hey, what do I do for my listing presentation?' and he pretty much didn't have an answer. He was just like, 'You know, hey, if they want to list with us, it's great — or not, that's okay too. Just go to the next one.' And I'm like, 'Wow, okay, I gotta do something different here.'" That's when Watts began shifting his focus. The game plan Watts quit taking online buyer leads and joined a coaching program, which improved his sales and lead communication skills. In the past six months, Watts says that this coaching has resulted in 12 transactions and $78,000 in earnings. So what does achieving this kind of success entail? Watts says he uses Vulcan 7 for prospecting. His primary lead sources are FSBOs and expired listings. The heart of his success, however, is discipline. His lead acquisition strategy includes direct outbound prospecting from 8 AM to 12 PM every day. He averages around seven prospects per hour, totaling 25-30 leads per week. Thanks to consistent effort, Watts no longer needs to buy leads, which also results in increased profit margins. His lead follow-up process is equally regimented. He leans on a folder system to classify leads: nurture (6-12 months), warm (90-120 days), and hot (within the next week or two). He then follows up on hot leads almost daily, warm leads weekly, and nurture leads monthly. To make him stand out in the minds of those leads, he sends them personalized thank-you cards and $1 lottery tickets. Advice from a goal-getter While Watts ended 2023 with 25 closings, generating approximately $150,000, he's aiming even higher for 2024. His goal is to net $300,000 in 2024 via 50 transactions, with a gross target of $416,000. Here are his takeaways for those looking to achieve a similar level of success: Consistency is key: Stay focused and committed to the daily process. Mindset shift: Success takes time and often requires a shift in perspective towards the process. Daily routine: Approach each day with a commitment to the process, rather than worrying about immediate outcomes. Coaching and mentoring: Get a coach or mentor for guidance and structured planning. Related reading How to Turn Your Real Estate Buyers into Seller Leads Tips for Growing the Listing Side of Your Real Estate Business Be a Better Realtor: 36 Tips and Tricks on Productivity, Goal Setting, and Self Improvement
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The KPIs and Metrics That Matter for Real Estate Success
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Best Tech Tip: Doing This One Thing Fixes a Majority of Your Device Glitches
What's our best tech tip? We live in an age where the hum of technology is as constant as the ticking of a clock. Technology is our silent partner in nearly every daily task: it is everywhere from the moment we silence our smartphone alarms in the morning to the second we power down our laptops at night. Yet, technology, unfortunately, is not infallible. Glitches and freezes can turn a happy workday into a hectic one. However, there is a surprisingly simple yet often overlooked remedy to many of our technological troubles: properly restarting our devices. First things first Before touching that power button, make sure all your work is saved. This step cannot be overstated, especially when documents, client information, and contracts are involved. If you can't save your files because your computer is frozen, here's a workaround hack: if visible, take a picture of the documents to capture a temporary backup until you can (hopefully) access the documents or retrieve the temporary file versions. If not, at least you have a partial record to recreate. Pro tip: When your computer is frozen, it's a great time to reach out to a Tech Helpline analyst who might be able to get you "unstuck" by guiding you through troubleshooting steps. The proper sequence to power down Closing all open applications is your next step. This action goes beyond simply saving work; it's about terminating tasks that could be causing your device to malfunction. This includes your web browser, which often runs multiple processes in the background that can consume valuable memory and processing power. When you are powering down, there is a sequence that you should ideally follow. First, don't touch that power button! Instead, try to use your operating system's standard shutdown and restart prompts, if possible. This lets your computer close all running processes correctly, save necessary system information, and power down without risking data corruption. For smartphones or tablets, use the device's built-in power-off function to ensure all apps are automatically closed correctly before the device turns off. Pro tip: Before you flip the power switch on your laptop because it is frozen, again, you should contact a Tech Helpline analyst for assistance first. The technical reasons it works From a technical standpoint, restarting your device clears its RAM or Random Access Memory. The RAM serves as the device's immediate memory, temporarily storing data from active processes. Much like a desk cluttered with files, a RAM brimming with data from various applications can become inefficient and, eventually, unresponsive because it is overwhelmed. Shutting down also resets the system's cache or cache memory. Cache, as defined by Britannica, is a "supplementary memory system that temporarily stores frequently used instructions and data for quicker processing by the central processing unit (CPU) of a computer. The cache augments, and is an extension of, a computer's main memory." While intended to speed up process times by storing temporary files, your cache can become corrupted or overloaded. This can cause applications to freeze or crash. Restarting the device clears the cache, much like emptying the trash bin below your desk to prevent overflow. How to envision the benefits of a restart In lay terms, imagine your device as an employee with a desk piled high with tasks (data). Throughout the day, this employee becomes less efficient as the pile grows. By the end of the day, if these tasks are not filed away (saved), and the desk is not cleared (applications closed), the next day begins with yesterday's clutter: the employee is behind even before their day starts! Powering off your device with a restart is akin to that employee having a fresh, clean desk to start each morning. Longer-term benefits Beyond the immediate fix, there are long-term benefits to powering down devices and restarting them. You can prolong the life of your devices by allowing them to cool down, reducing the risk of hardware damage from overheating. Leaving your laptop or desktop on all the time can be detrimental. Restarting also ensures that any updates to your software or security patches to your operating system have the chance to install correctly, as many times, they will require a complete restart to take effect. Making it a routine For real estate agents, making device restarts a part of your regular work routine can mean the difference between a productive workday and one packed with hours lost to troubleshooting. By simply powering off your devices regularly, you ensure they're ready for performance. The bottom line Powering down your devices can become a regular maintenance ritual that ensures your digital tools can keep up with the relentless pace of life as a real estate agent! Yes, it takes a bit of time and patience, but you often can gain a giant leap in device performance. So, give your devices the break they crave and take that moment during the restart to enjoy a few moments of quiet in your busy world. And keep in mind that if during any of these steps, things go sideways – or you need extra assistance – contact a Tech Helpline analyst to help you get things fixed! To view the original article, visit the Tech Helpline blog. Related reading 5 Common Tech Mistakes Real Estate Agents Should Avoid The 5 Most Common Questions Agents Ask When They Call Tech Support Top Tech Issues Every Real Estate Pro Faces
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10 Ideas for Staging a Kitchen to Impress Buyers
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[Best of 2023] The Jury Has Ruled on Commissions: What Are the Next Steps?
Here it is — our top article of the year! This article was originally published back in November and is the most-read article of 2023. See #2 here, or read the full list of our Top 10 articles from 2023 here. So many lawsuits, what happens next? The answer is: it depends. For now, agents need to pay attention to the information from their MLS and their association of REALTORS, and talk to their broker. Do not put too much into the articles you read in the real estate news, unless a lawyer is writing it. The case list is long – Morel vs. NAR, Leader vs. NAR, Nosalek vs. MLSPIN, Sitzer/Burnett vs. NAR, and more! Do not get drawn into the drama. Nothing has happened yet. When it does, listen to your broker and your MLS/association. I have been mad about the Sitzer/Burnett case from the beginning. My opinion on Sitzer/Burnett is that the judge should be fired. Early in the case, he categorized it as a per se antitrust case rather than a rule of reason antitrust case. Every attorney that I have discussed this with has indicated that Sitzer/Burnett is a rule of reason case. That judge got it wrong. A per se violation requires no inquiry into the actual effect on the market, or the intentions of those individuals who engaged in the antitrust behavior. In this case, the market effect and intentions really matter… appeal! And yes, there will be an appeal, unless there is a settlement. The decision of appeal vs. settlement will absolutely be a measure of money – not law or the facts in the case. The final settlement in the case, or the appeal – or whatever happens next – does not really matter unless you are named in the litigation. For everyone else, think about how you can change now to avoid this sort of business uncertainty in the future. It's not that hard to change. Buyer's Agent Change Now Update the "Submit Offer" form from the buyer to include a field for buyer agent compensation. Oh, and make sure the buyer's agent uses a buyer representation agreement immediately, on every lead, and early in the conversation with the buyer. If you don't get paid by the seller, the buyer will need to pay you. Listing Agent Change Now Notify the seller of your fees and discuss the optional offer of compensation to the buyer's agent. Make it clear that the seller is paying your agency fee to some amount or percentage, and that they can authorize you to negotiate with the buyer on the buyer agent fee, or not. Let's look at the seller agency carefully. The seller pays a commission for a job. How the listing firm does that job, and who they pay to do that job, is up to them as long as it is seller authorized. MLS Change Now MLSs have the opportunity to change now. Just remove the offer of compensation field all together. Buyer's agents can submit an offer that includes buyer agent compensation; get out of that. This will also remove all suspicion of steering. Talk to Your Lawyer If you are an MLS, association, or broker, then you better have a dialogue with your lawyer about what happens if you get sued. The impact of these cases will be different for many states, so don't hold your breath and hope for clean air in the future. Assess your liability, if any. If you can pay it, or some amount – you may want to do that. Otherwise, you may want to dispose of your company and start another one before it's too late. NAR Dues The National Association of REALTORS® has had to raise money for settlements before. Some of you might remember the CIVIXX case involving a company that had a patent on displaying a property icon on a map to represent a home for sale. NAR settled for $7.5 million. They sent an invoice to all of the MLSs. This is a large legal bill; expect a far larger dues increase. Shout out to my retired consulting colleague Ann Bailey for saving the industry's ass with CIVIXX. Keep Selling The most important thing to tell agents today is to keep selling real estate, and their value is impressive. I expect some great new technology to emerge to demonstrate the value of listing agents and buyer's agents. I have been keeping an eye on Rayse. Theirs is a website that tells you nothing about the product, but the mission is clear: value your expertise. Consumers need professionals to help them with real estate transactions. Be there for your client. To view the original article, visit the WAV Group blog. Next steps Read recent research on buyer's agent commissions See more articles on tips, tricks and tools for buyer's agents Explore Buyer's Agent tools in our Product Directory.
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[Best of 2023] Using ChatGPT Is Probably an MLS Violation
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Creating an Unforgettable Brand: Building trust in the real estate industry
Word of mouth and loyalty are crucial for success in the real estate industry, and these both rely on one fundamental aspect: trust. Trust drives referrals and repeat business, making it essential for building a strong and unforgettable brand in real estate. Let's explore the key elements of trustworthiness, the benefits of a trustworthy brand and actionable steps to build trust in your real estate brand. Key elements of trustworthiness To build trust in your real estate brand, it's important to understand the key elements of trustworthiness. These elements include reliability, credibility, authenticity, dependability, honesty, transparency and expertise. While these concepts may seem intuitive, implementing practical trust-building strategies can be challenging. Benefits of a trustworthy real estate brand A trustworthy real estate brand offers various benefits. Increase loyalty and repeat business: It fosters increased loyalty and repeat business from clients who have confidence in your brand. Positive word-of-mouth: Satisfied clients are more likely to spread positive word-of-mouth referrals, expanding your customer base organically. Your competitive advantage: A trustworthy brand gives you a competitive advantage in the market, as savvy buyers often research and choose brands (AKA, partners) they perceive as trustworthy. How to build a trustworthy brand Building a trustworthy real estate brand requires careful planning, consistent execution and a focus on delivering great value and experiences to your clients. Seven steps to help you build trust in your real estate brand: Consistently provide outstanding service: Prioritize delivering the best service possible to your clients. This should be the foundation of your brand, as it builds trust and loyalty (not to mention referrals). Share your story: Your brand is more than a name and logo. Share your story, including your company's history, values, motivations, successes and failures. This personal touch helps establish an emotional connection with your prospective audience. Build social proof: Encourage satisfied clients to leave reviews and testimonials. Positive reviews and testimonials act as social proof, showcasing the trustworthiness of your brand to potential clients. Emphasize transparency: Be open and transparent with your clients about your processes, fees and any potential conflicts of interest. This transparency builds trust and fosters long-term relationships. Showcase expertise and knowledge: Position yourself as an industry expert by consistently sharing valuable and informative content through blog posts, social media and other platforms. This establishes your credibility and builds trust with potential clients. Engage with your audience: Interact and engage with your audience through social media, blog comments and email newsletters. Respond promptly to inquiries and provide personalized attention to build trust and nurture relationships. Utilize iGUIDE: Provide assets that impress clients and showcase your expertise. With iGUIDE, your 3D virtual tours with digital floor plans will create repeat, referable business. Following these actionable steps, you can build a trustworthy real estate brand that stands out in the industry. Trust takes time to develop, but once established, it becomes the foundation of a successful and unforgettable brand. If you want to add expertise and technology to your toolbelt, you can learn more about iGUIDE by booking a complimentary virtual demo. To view the original article, visit the iGuide blog.   Thank you to iGuide for sponsoring this article on RE Technology!
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Be a Better Realtor: 36 Tips and Tricks on Productivity, Goal Setting, and Self Improvement
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6 Steps I Follow to Be a Better Me
Welcome back to our "Tips and Tricks Tuesday" series, which highlights articles around a monthly theme. November's theme is "How to Be a Better Me." Read on for tips and tricks on being your best self in business from Stacy Herbel, REcolorado Director of Education and Development: I have always had a passion for education. That passion is vital to not only my success but those around me as well. And here's why. Education, by nature, is a collaboration of different people and interests working towards a common goal with a simple pass/fail mentality on its surface. Digging even deeper, education is the starting point for everyone's success. And in residential real estate, it's the "know-it-alls" who get it done. I started working in a real estate office as a receptionist when I was 14 years old, and I was always eager to learn more about the industry. I took every opportunity to learn from my colleagues, working in many different facets of the industry, from transaction coordination to escrow and title to training real estate technology. There is a formula I follow to be successful and it's contagious. For example, I have a strong track record of developing and retaining top talent. Two members of my team who left the industry and then came back to work with me again attest to my ability to create a positive and supportive work environment where I am always willing to help my employees grow and develop their careers. Here are six steps I follow to be a better me: 1. Have a passion for education I believe that education is the key to success in any field. It allows you to develop your skills and knowledge, and it gives you the confidence to take on new challenges. I have seen this firsthand in my own career. Students will walk into REcolorado MLS classrooms, often with what they think is a basic understanding of our resources, but they walk out acknowledging they needed the course, had no idea what the systems could do to make their daily business life better, and recognize the benefits of taking additional courses to learn more. If you want to be a better you, I encourage you to develop a passion for education and look for educational opportunities wherever you go. It will open a world of opportunities for you, and it will help you achieve your goals. Start with your managing broker; they are a trusted resource and a wealth of industry knowledge. If you are a broker that is newer to the business, find a mentor. Real estate is very complex — from contract law to cultivating leads, every transaction is different, and mentors can share tools and techniques that have proven successful. If your multiple listing service (MLS) offers classes, take them annually. Most MLSs provide powerful tools you will use daily. Having a clear understanding of those tools will help build and support a strong and efficient business. Why annually? Technology changes and improves; you will want to stay up-to-date on what the tools can do for you. Local and national organizations also provide educational opportunities. 2. Do what you love Do what you love. This may seem like a no-brainer, but it's important to remember that you spend a lot of time working, so you should make sure you're doing something that you enjoy. If you're not sure what you love, take some time to explore different interests and see what sparks joy. Once you find something that you're passionate about, pursue it with all your heart. You'll be amazed at how much more fulfilling your life will be when you're doing something that you love. 3. Become a people person At minimum, become a better listener to understand people. Being a people person is important because it allows you to connect with others, build relationships, and create a positive atmosphere. When you listen to what is important to others, you can find ways to connect to them. Better connections lead to better interactions. By becoming a people person, you are more likely to be successful in your personal and professional life. 4. Take the time to find technology to make things better for you It is a misconception to think using technology automatically makes things better. In some cases, you may be going in 30 directions at once, completely rudderless. Technology can provide us with so many options that it can be difficult to decide which one is the best. Take the time to explore and learn tools that best fit your needs. And remember, while most of us do not like change, change is not a bad thing. I have the opportunity to continually interact with brokers and agent who are so glad they took an hour to learn about an REcolorado tool because it will give them back 10 times that in the future. So, push yourself to look for something that better serves you when your current technology no longer does. 5. Focus on growth There are many reasons why real estate companies should focus on growth. But how does growth help anyone become a better professional? Growth allows you to learn and develop new skills. It also allows you to take on new challenges, find new passions, and set and achieve new goals. When you focus on growth, you are not only giving back to yourself, but you are also giving back to your business. 6. Pay your wisdom forward When you pay your wisdom forward, you are not only helping others, but you are also enriching your own life, as is my experience in authoring this op-ed. Here are some ways to pay your wisdom forward: Mentor or coach someone Write a blog or article about your experiences Teach a class or workshop. You never know when sharing your story can change someone else's life for the better. Finally, there is one key element that ties all six of these points together, and that is the importance of connecting one-on-one with those you encounter. Whether it's agents, brokers, clients or someone who is overtly critical of what you are doing, take a moment to take them aside and ask them to tell you more about the issues they face day to day. And then, listen. Listen closely. Because within their remarks is the answer to a very fundamental question in everyone's ongoing education: How can I learn to be a better me? Bolstered by 35 years of real estate experience, Stacy Herbel is the Director of Education and Development at REcolorado, where she oversees the instruction of 25,000 subscribers. In 2013, she managed training throughout a corporation-wide software conversion and successfully transitioned over 14,000 agents in three months. In 2020, she seamlessly navigated education offerings onto an online platform to ensure continued education opportunities for REcolorado subscribers during the pandemic. Stacy is well-versed in adult learning best practices and has gained expertise in all contemporary training modalities. More in this series Protecting Your Identity for Free: A Quick and Easy Guide How to Build Better Real Estate Listings with Immersive Content
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Movin' on Up: 15-Point Checklist for Switching Real Estate Brokerages
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The Emotional Rollercoaster of Real Estate: Strategies for Agents to Stay Afloat
Welcome to the thrilling world of real estate! It's a dynamic field that promises excitement, financial rewards, and opportunities to connect with clients on a personal level. But with great highs come inevitable lows, and real estate is no exception. Agents often find themselves on an emotional rollercoaster, navigating through a series of ups and downs. In this post, we'll explore the emotional rollercoaster of real estate and provide you with some strategies to help you stay afloat. The Highs 1. The Elation of a Successful Sale: Few things can rival the high of closing a deal. The satisfaction of matching a buyer with their dream home or helping a seller secure an excellent price can be truly euphoric. Relish these moments; they're what make the hard work worth it. 2. Building Lasting Relationships: One of the most rewarding aspects of real estate is the opportunity to form lasting relationships with clients. You're helping people make one of the most significant decisions of their lives, and that kind of trust is a powerful bonding agent. 3. Financial Triumphs: A successful real estate agent can enjoy substantial financial rewards. Commission checks can be substantial, allowing you to enjoy a comfortable lifestyle while doing what you love. 4. Flexibility and Independence: Real estate agents often have more control over their schedules than many other professions. This autonomy can be incredibly liberating and lead to a healthier work-life balance. The Lows 1. The Agony of Rejection: For every successful sale, there may be multiple rejections. Dealing with rejection is an integral part of the real estate world. Your dream property may slip through your fingers, or a client might decide to go with another agent. It's tough, but it's part of the game. 2. Market Volatility: The real estate market is like a capricious beast, and it's not always easy to predict its behavior. Economic downturns, fluctuating interest rates, and external events like the COVID-19 pandemic can wreak havoc on your business. 3. Burnout and Stress: Juggling multiple clients, attending showings, and handling the intricate details of transactions can be overwhelming. Burnout is a real risk in this profession. The constant pressure to meet quotas and deadlines can take a toll on your mental and physical health. 4. Uncertainty: Real estate is anything but predictable. Your income isn't fixed, and financial stability can feel elusive. You may have a fabulous month followed by a drought that has you questioning your career choices. Strategies for Staying Afloat Now that we've explored the exhilarating highs and daunting lows of the real estate rollercoaster, let's discuss some strategies to help you navigate the twists and turns. 1. Build a Support Network: Real estate can be a lonely profession. To combat this isolation, connect with other agents in your area. Share experiences, insights, and strategies. The emotional support from peers can be invaluable. 2. Maintain a Positive Mindset: It's crucial to develop a positive outlook to weather the lows. Remind yourself of your past successes, and visualize your future accomplishments. Embrace rejection as a learning opportunity and a step towards your next success. 3. Continuous Learning: The real estate industry is always evolving. To stay on top of your game, commit to lifelong learning. Attend workshops, take courses, and stay updated on market trends and technology. 4. Time Management: Avoid burnout by managing your time effectively. Set clear boundaries for work and personal life. Delegate tasks where possible and prioritize self-care. 5. Diversify Income Streams: Relying solely on commission-based income can be risky. Consider diversifying your income with rental properties or real estate investments. This can provide stability during market downturns. 6. Plan for the Future: Develop a financial plan that includes saving for retirement. It's easy to get caught up in the present, but having a long-term financial strategy can offer peace of mind. 7. Embrace Technology: Leverage technology to streamline your workflow. From virtual tours to CRM systems, technology can help you work more efficiently and stay competitive. 8. Seek Professional Guidance: Consult with a financial advisor or therapist as needed. A financial advisor can help you plan for your financial future, while a therapist can assist with managing the emotional challenges of the profession. 9. Adapt and Innovate: Be ready to pivot when necessary. If market conditions change, explore new niches or areas of specialization. Innovate your marketing strategies and adapt to the ever-changing real estate landscape. 10. Take Time to Reflect: Periodically step back and evaluate your career goals and personal well-being. Are you on the right path? Are you still passionate about what you do? Reflecting on these questions can help you make informed decisions about your future in real estate. Real estate is indeed an emotional rollercoaster, with its breathtaking highs and stomach-churning lows. But with the right strategies, a strong support system, and a positive mindset, you can not only survive but thrive in this thrilling industry. Remember, it's the journey, not just the destination, that makes the ride worthwhile. So, fasten your seatbelt and get ready for the next exhilarating twist and turn in your real estate adventure! To view the original article, visit the Transactly blog.
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The Jury Has Ruled on Commissions: What Are the Next Steps?
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4 Ways to Invest in Yourself
As the saying goes: you can't pour from an empty cup. And it's not just the stuff of self-help literature, it's a fact — you can't be your best and beat the competition without taking care of and investing in yourself first. Throughout your career, it's crucial to assess where you are, and not just for the sake of ensuring you're hitting a target or a specific number. You want to ensure you're investing back in yourself, and that the investment you make translates back out into your business. 1. Learn a New Skill What better way to invest back into yourself than by putting in the time, effort, and dedication to learning a new skill or two? Take a beat to sit down and jot down a list of all the technical skills you'd like to improve but just haven't had the time to tackle. Maybe it's becoming a whiz at your team's CRM. How about writing great copy for your email sends? Or, this is the year you learn the ins and outs of optimizing your marketing ROI. Let the ideas flow, and then stack-rank them with your top three picks. Next, check out online or local courses, or even tapping the shoulder of a colleague, to see how you can improve in each of those areas. By investing in improving and diversifying your skill set, you're truly investing in yourself. You can also pivot this to be focused more on your professional development. Are you eager to sharpen your negotiation skills? Is there a niche in real estate you'd love to learn more about? Or could your presentation skills use some tightening up? Whatever it is, go forth and pursue it relentlessly. Not only will your real estate biz benefit, you never know — you just might find your next passion. 2. Get Involved with Your Local Real Estate Association Your local real estate association is a wealth of access to so many opportunities that can directly translate to your day-to-day work. By getting involved with your local association, you can get access to a wide variety of training offerings, exclusive market research and MLS listings, and opportunities to attend conferences. And, because you're rubbing elbows with fellow real estate pros, it's an excellent way to network. 3. Choose a Mentor in the Business World You likely already have a mentor in the real estate industry (and if you don't, you should), but have you considered partnering up with a mentor in the business world? A mentor doesn't have to be involved in real estate for you to learn things from them, especially in the world of business. Business has a vast selection of concepts and best practices, all of which can help amplify your real estate business. Tapping into a business mentor can also allow you to explore a variety of new skills that can translate over to your world of real estate. If there is an area you want to better understand, find someone that can teach you that is already an expert in that area. Wish you were a master at running a business of your own? Want to improve your skills overcoming objections? Need a refresher on networking, both virtually and online? A business mentor can help with all of the above. 4. Get Involved in Your Community Believe it or not, helping others can be the gateway to helping yourself. A great way to invest in yourself is by getting involved in your community. It may sound counterintuitive, but think about it: by rolling up your sleeves and helping out where you live, you can make an actual difference and true impact on your community members. Most surprisingly, volunteering and giving back has been found by researchers to have clear health benefits, both physically and mentally, as well as help build new skills and connections. Furthermore, being involved in your community allows you to become an expert in your area, which directly translates back to knowledge you can use to help your buyers and sellers. As an added bonus, getting your name, face, and assistance out in your local area helps build up your brand, too. Your path to learning, growth, and self-improvement should be a continuous journey. By investing in yourself, in turn, you can offer a better version of yourself to others and to the world around you. This causes a ripple effect out into your real estate business, leading to better client experiences, more confidence in your deals, and masterful management of all that comes your way. To view the original article, visit the BoomTown blog. Related reading 9 Traits of Wildly Successful Agents How to Accentuate the Positive in Your Real Estate Career From Plan to Reality: Making Goals and Sticking to Them
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10 Tips To Make Your Fall and Winter More Productive
The fall and winter months are a time where productivity can easily take a hit for real estate agents. The holiday season can create a myriad of distractions. However, there are many things that you can do to stay productive during these months. In today's post, we're going to discuss 10 productivity tips for the fall and winter months. Stay Organized One of the most effective ways to stay productive during this time is to stay organized. Invest in a planner or software that can help you manage your schedule. This will help you prioritize tasks and stay on top of deadlines. Set Goals Goals provide a sense of direction and motivation. Set specific and measurable goals for your business, including lead generation, listings, appointments, and sales. Leverage Technology Utilize technology and automation to streamline tasks and make your work easier. A CRM can be a great help in this regard with advanced lead management and much more. Considering take this slower time of year to add new tags that will help you filter and locate leads by criteria you choose. Segmenting leads is a powerful tool for effective call campaigns or custom email campaigns with information or announcements relevant to your leads' interests. Learn Something New Use the fall and winter months as an opportunity to learn something new. Attend training sessions or conferences to gain new skills and knowledge. Network Networking is essential in the real estate industry. Attend events and stay in touch with past clients and colleagues. Check out these six networking tips to put together your own networking plan. Stay Active Staying active is crucial for both physical and mental health. Take a break from work and go for a walk or exercise to rejuvenate your mind and body. Stay In Touch With Clients Every contact in your database should be in some kind of email or text message campaign that offers insights about market activity. This educates them about market activity while keeping you top of mind. Set up each of your leads with custom listing alert emails that cater to their property location, pricing, and feature interests. Seek Mentorship Find a mentor who can guide you and offer valuable insights about your business. Research and consult with real estate coaches if want to get your business to the next level faster. If you haven't already, check out the recordings of our very popular coaching webinars with Bob Corcoran. They're packed with tips and insights from his 30+ years of being an award-winning real estate state coach. Consistently Evaluate Performance Regularly evaluate your performance to gauge your progress towards your goals. This will help you identify areas for improvement and make necessary adjustments. For example, some CRMs will show you which lead sources are the most productive so you can optimize your ad spending. You can also see the number of contacts you have in each stage of your pipeline, helping you to focus your efforts on the areas that need attention. Take Breaks It can be easy to get burnt out during this time, so make sure to take breaks and recharge when needed. This season is a good time to reevaluate the way you work every day. You might be surprised by what changes will make you more productive. Summary Embrace the power within you to turn the traditionally slow fall and winter months into a time of growth and productivity. The seasonal slowdown is not a setback, but an opportunity to refine your strategies, enhance your skills, and prepare for the year ahead. Use this time to track and assess your performance, plan ahead, prioritize tasks, and leverage technology to streamline processes. Remember, even in the quietest seasons, there are opportunities to be seized. Carve out time for personal development and relaxation, ensuring a balanced work-life schedule. In harnessing these strategies, you'll emerge from the winter months ready to take on the busy season with renewed vigor and an arsenal of improved tactics. To view the original article, visit the iHomeFinder blog.
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4 Tips to Ensure You Never Lose Another Client
Welcome back to our "Tips and Tricks Tuesday" series, which highlights articles around a monthly theme. October's theme is "Never Lose Another Client." Read on for tips and tricks on maintaining long-term relationships with your clients: The current market is presenting many challenges to agents. However, by using technology and a few strategic steps, combined with some simple best practices, you can stay top-of-mind with clients and increase the chances that they will do business with you. Technology automations can help you stay in touch with clients through email, social media, and other channels, as well as automate some of your marketing and sales processes. Here are the four tips to ensure you never lose another client. 1. There are no past clients and no future clients — everyone is a forever client There is no such thing as a past client, there's only a client. I remember when I bought my first home, I felt like I was in over my head. I had so many questions and didn't know where to turn for help. My real estate agent was a lifesaver. He was patient, knowledgeable, and always available to answer my questions. He made the whole process so much easier and less stressful. I'm so grateful for his help, and I would definitely use him again if I ever need to buy or sell a home. That's the critical key for real estate agents: to build relationships with their clients. This means being responsive, helpful, and knowledgeable. It also means going above and beyond to make sure that your clients are happy with the service they receive. If you can do this, you'll be sure to have repeat customers for years to come. A second home purchase could be an additional investment. Mom-and-pop investors mean that one client could make five, six, seven, or even more transactions in their lifetime. As you all know, the average person owns a home for five to seven years before moving. So, if you get someone who buys a home in their 30s and lives until they're 80, you're looking at about 50 years of home transactions. As someone gets older, they have a higher propensity or likelihood to work with those they know. The likelihood of older people working with a new real estate agent increases as they get older. This is a major issue, as NAR research shows that 89% of buyers would use their agent again or recommend them. However, we believe that this number is actually closer to 40-50%. This suggests that there is a problem with the way real estate agents are currently serving older clients. The solution: leverage technology to help you keep in touch with past clients, as they may become repeat customers. Great real estate agents need to stay top-of-mind with their past clients in order to continue to earn their business. 2. Customer trust leads the way We are passionate about customer success because experience has shown that if we do everything right for our customers, those customers will be happy and tell their friends about the company's products or services. This creates a positive word-of-mouth marketing campaign that will help the company grow without the expense of traditional marketing. To do this, it's critical to maintain relationships with clients after they have been acquired. Being responsive, helpful, and investing in both marketing materials and engagement systems are just a few ways that this can be accomplished. Proactively send home information related to their personal needs (such as the Home Valuation Report), have marketing materials that are well designed and high quality (such as a Monthly Neighborhood Report), and use intelligent systems to engage clients and increase your lead funnel. All too often, we don't spend money after a client's initial closing gifts. It's important to maintain relationships with clients after they have been acquired, which means investing in marketing materials and engagement systems after a client has decided to work with you in order to keep them interested and engaged. In other words, treat clients just as good (if not better) than how you treat leads. 3. Become a family adviser, not just a financial adviser Working in real estate, professionals often see themselves as financial advisers and rightfully so. Real estate purchases are moments of truth, as they are often the largest financial transactions that people make. Along with landing a new job, getting married, or having a child, these are critical moments in someone's life and can have a significant impact on the customer's overall experience. Buying a home is considered the third most stressful life event, after the death of a loved one and divorce. It is the single largest financial asset that most people have. In addition to the financial aspect, from a psychological perspective there is also emotional memory and attachment added to that transaction. Consider the home an extended member of the customer's family. Tappable home equity is around $18 trillion dollars in America right now. The average homeowner has around $200-300k in tappable equity. Helping people navigate their equity situation will generate goodwill. That will inevitably lead to prospects becoming clients and clients becoming clients for life, a goldmine of repeat and referral business. 4. Stay in consistent contact Mass marketing has around a 20-30% open rate. At best, the click-through rate is roughly 10%. That means for every 100 people you email, only two to three will actually engage with it. Conversely, personalized emails have a 70% open rate and a 50% click-through rate. Sending information about someone's home is personal. And more importantly, it's valuable and useful to the recipient. Typically, you will receive a positive response. We always say that the best marketing is the one where someone replies back, "Thank you, this was so helpful." Every once in a while, you might get a response like, "Hey, did you send this? Is this you?" and the answer is an emphatic yes. When sending a monthly home valuation report, the email will show up as coming from you, their agent, not from Percy. Your client can click on the "View Your Monthly Report" link to see their home value report. Once subscribed, your client will receive this report every month moving forward, providing automatic updates on recent nearby sales and buyer demand in your neighborhood. This tool enables consistent and most importantly, personalized client engagement, but in an automated way. Brandon Carroll is the Vice President of Client Success at Percy. More from our "Tips and Tricks Tuesday" series 3 Ways to Create Forever Clients Using Your Real Estate CRM 6 Ways Digital Home Management Platforms Help Agents Keep Clients Forever 40 Tools, Tips and Scripts for Finding More Listings
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Meeting Home Buyer Expectations: Understanding the Millennial HGTV Generation and Their Preferences
Thank you to Revive for sponsoring this article on RE Technology: Millennials, stereotyped for their love of avocado toast and HGTV, are beginning to redefine real estate's landscape. The largest generation, with 72.1 million millennials in the US, also represents 43 percent of homebuyers -- the highest share of any group. But decoding the millennial homebuyer can often feel like navigating through an intricate maze. Born between the early 1980s and mid-1990s, experts had prophesied that these young adults would be content with being urban renters, forever forgoing the suburban white picket fence. Yet, today's data tells a different story. Two-thirds of millennials see homeownership as the quintessential American dream, a Bankrate study found. Now 45% plan to buy a home in the suburbs like their parents, a stark contrast to early predictions. However, their journey to homeownership has not been smooth. High student debt, accelerating housing prices, dwindling inventory, and rising mortgage rates have formed a formidable barrier, especially for millennials. As a result, the dream of homeownership has been delayed for many. But as they step onto the property ladder, what truly drives their home-buying decisions, and how are they shaping the future of real estate? Barriers to Homeownership Despite their deep desires, millennials have not changed the housing markets because many struggle to become homeowners, negatively impacted by affordability issues, including the need for a down payment, the burden of student debt, escalating housing prices, and a lack of entry-level homes. Millennials hold 30.4% of the total debt. In fact, 15 million millennials are grappling with student loan debt, more than any other generation. They carry an average balance of $33,173 per borrower. And research shows over 79% see student debt as a significant issue for their generation. Moreover, personal affordability issues keep 78% of aspiring-homebuying millennials from purchasing a home, while the current housing market and economic conditions hold back 59% of them. A National Association of Realtors report from 2022 revealed that 27% of younger millennials saw accumulating funds for a down payment as the toughest step. A Bankrate.com survey found that many millennial non-homeowners cited limited savings and too-high home prices as reasons for continuing to rent. Over half (53 percent) of the older millennials, who aspire to be homeowners, said they could not afford the down payment and closing costs, higher than any other age group. Younger millennials noted other hurdles, including not having enough income (49 percent), home prices being too high (47 percent), and not being able to afford the down payment and closing costs (42 percent). Why millennials are different Because of the challenges millennials face, their entry into the real estate market has looked different from that of other generations. Overall, millennials are buying their first homes later than their baby-boomer parents. There are many reasons they are delaying homeownership. Still, studies show that high student debt, the enduring effects of career stagnation caused by the Great Recession, and the impact of the pandemic are among the most cited reasons. But it's not only about money. Many millennials also are delaying traditional milestones. In 2020, the median age for a man's first marriage crossed 30; for a woman, it was over 28. Correspondingly, the typical first-time homebuyer age has increased to 36, the oldest ever on record. One of the biggest influencers of changing housing is when a couple starts a family. Compared with earlier eras, people today have their children later in life. That also contributes to delayed homeownership for millennials. According to demographers at Ohio State University and the University of North Carolina at Chapel Hill, despite the recent fall in US birth rates, most young people still plan to become parents but are delaying childbearing. Another Bankrate survey found nearly two-thirds of Americans (64 percent) are willing to sacrifice to find affordable housing. Among millennials, 33 percent would buy a fixer-upper, 32 percent would move out of state, and 31 percent would downsize their living space. Home and design preferences For the first time, in 2022, more than half of millennials (51.5%) owned a home. However, reaching this milestone took millennials longer than any other generation. But their real estate influence continues to grow, as does their impact on home designs and features. Research shows millennials prefer buying a smaller move-in ready home than undertaking a fixer-upper. More than any other demographic group, Millennials prefer move-in ready houses over fixer-uppers. Designers say millennials opt for open spaces, connecting living and dining areas with the kitchen. Millennials also desire outdoor living spaces. Because millennials are digital natives, they expect homes to have technology with smart features such as home security, automated lighting, smart locks, and thermostats. Working from home is driving millennials' desire for home office space and workout space in the house. Pets are also a priority for millennials, influencing their home-buying decisions. For example, 79 percent of pet-owning new homeowners surveyed by Realtor.com said that they would pass on an otherwise perfect home if it didn't meet the needs of their pets. A Harris Poll found that 33 percent of millennial home buyers said their dog influenced their home-buying decision, outranking marriage and kids as the motivation. The study found this true among future millennial home buyers, with 42 percent surveyed saying a dog will be a crucial factor in their home purchasing decision. Renovation and remodeling trends among millennials The post-pandemic home improvement wave also spread to millennials. Although millennials account for less than 10% of homeowners who renovated last year, their renovation spending spiked 33% from the previous year, averaging $20,000. With the median age of the US home approaching 40 years, remodeling and renovation is rising rapidly. Fueled by the fact that more than half of America's homes were built before 1980, 55% of homeowners reported renovating at least part of their homes in the last year. In 2022, Americans spent an estimated $427 billion on home improvement projects. It's an accelerating trend over the last several years and is expected to continue, eclipsing $600 billion in 2025. While kitchen renovations and bathroom remodeling were the most popular home improvement projects, a Houzz study found that millennials did more home system upgrades than any other generation, focusing on automation and security enhancements. Upgrading home offices also were a priority for millennials more than any older generation in 2022. Not surprisingly, older millennials make the most renovations of their homes, but nearly all enjoy the result of home improvement. Researchers found that 93% of all homeowners felt they had a better quality of life after renovating. Interestingly, millennials overall shun taking on significant home improvement debt. Industry research shows that most millennials, nearly 88%, utilize cash savings for renovations. However, 35% also rely on using credit cards, a higher percentage than older generations. A blueprint for tomorrow's real estate As millennials continue to navigate the intricate dance between dreams and financial realities, one thing becomes evident: they are not just participants in the housing market; they are active sculptors. With their tech-savviness, appetite for digital information, and a strong desire to become homebuyers, they offer a fresh perspective on what they want as homeowners. Their journey teaches the real estate industry invaluable lessons about adaptability, resilience, and the undeniable power of understanding consumer needs. In embracing the millennial HGTV generation's unique blueprint, real estate professionals aren't just staying relevant; they're setting the stage for a vibrant, inclusive, and dynamic future in housing. For real estate agents and brokers, understanding and catering to this generation's nuanced needs isn't merely a sales strategy; it's a roadmap to the housing market's future. Jessica Morrow, a seasoned real estate veteran, is Head of Operations for Revive. Revive's mission is to guide home sellers through pre-sale renovations without upfront costs. Working with Revive, home sellers maximize their profit when selling their homes.
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Using ChatGPT Is Probably an MLS Violation
When the representative of a participating broker in the MLS enters listing information into the MLS, they are doing so according to a license agreement. The broker agrees that the data entered into the MLS remains the broker's property, but the MLS is granted a license to use the information entered for MLS purposes. In the license agreement, the broker also warrants that the information entered into the MLS is not subject to any third-party copyright. There are three elements of a listing that the broker can claim as copyright. The first is the photo, the second is the property description, and the third is the compilation (think of this as a collage that contains facts like bedrooms and bathrooms and the photo and description). In context, entering a property into the MLS is the same as creating a digital piece of artwork. Remember the days when real estate agents would copy photos off the internet and Getty Images would pursue the MLS for damages, resulting in fines and other penalties to the broker whose agent uploaded a copyrighted photo to the MLS? Even today, MLSs continue to sort out disagreements between firms when an agent uses another agent's photos on a listing. These problems have waned, thanks to the education efforts of NAR (national, state, and local) and the MLS. We have also advised that brokers make sure that there is a license agreement in place when a professional photographer is hired. NAR has sample agreements for professional photographers – make sure you use them. ChatGPT terms of use I imagine that by now, you have tried ChatGPT. It's a really cool application that takes prompts from the user and generates something else. For example, you can tell it to write a property description and give it some information about the subject property. The machine (artificial intelligence) will write the property description for you. It does a really good job, typically better than most authors of real estate descriptions. Social media is swarming with tips and tricks on how to use ChatGPT for writing property descriptions. The problem is that when ChatGPT writes something, you are not the author. Since you are not the author, you do not own the copyright. Adding a property description written by ChatGPT and loading it into the MLS is the same as stealing a photo off the internet, or another agent, and loading it to the MLS. It violates the promise between the broker and the MLS, which warrants that the content being submitted is free of copyright infringement. So please stop it. If you want to use ChatGPT to draft your property description, then edit it significantly, that's fine. Just be careful. Also, do not copy/paste. To view the original article, visit the WAV Group blog.
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Taking Advantage of Today's Real Estate Market
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5 Common Tech Mistakes Real Estate Agents Should Avoid
Today more than ever, real estate agents rely heavily on technology to engage their clients and streamline their workflow, which helps deliver exceptional services to clients. However, even the most tech-savvy agents can fall victim to common mistakes that hinder their productivity and success. How can agents ensure their tech stays in tip-top shape? Here are five common mistakes to avoid: 1. Ignoring software updates One of the most common mistakes agents make is ignoring software updates for their software and devices. These updates often contain important security fixes and feature enhancements that can improve the overall performance and efficiency of your daily tech. For software updates, most experts recommend you simply make sure you have your settings on automatic update. Pro tip: Instead of automatic updates, another approach is to set aside a specific time each month to check for updates and install them. For example, set a calendar reminder for updates on the second Monday of every month. This will keep your devices and applications secure, help you continue running your business smoothly, and time your updates when they work best for you. 2. Failing to back up data If you lose vital data due to a system crash or an accidental deletion, it can ruin more than your workday: it can negatively impact a customer relationship or impede your business. Therefore, it is essential to regularly back up your files and information to prevent data loss, protecting you and your clients. Pro tip: Use an automated backup service on the cloud or external storage devices to protect your data. Schedule regular backups and perform periodic checks to confirm the process is working correctly. 3. Neglecting cybersecurity In the digital world, cybersecurity should be a top priority for all real estate agents. A compromised system or stolen personal or client information can lead to financial loss, damaged reputation, and loss of business. Pro tip: Protect your devices with antivirus software and firewalls. Use strong, unique passwords for all your accounts and enable multi-factor authentication where available. Always be extra cautious when clicking on unfamiliar links or opening suspicious email attachments. 4. Relying on outdated technology Using outdated technology can slow down your work, making you less competitive in the deadline-driven real estate industry. Older devices and software may also lack essential features and security measures, putting your data – and business – at risk. Pro tip: Regularly assess your technology and consider upgrading or replacing outdated devices and software. Stay informed about the latest advancements in real estate technology and invest in tools that can help you stay ahead of the competition. 5. Not leveraging technology to its full potential Many real estate agents underutilize the technology at their disposal, especially tools provided by their brokerage or local MLS. Are you missing opportunities to improve efficiency, marketing, and client communication? Technology can help, but only if you are well-versed in all that these tools can do to help you improve your business. You don't know what you don't know, so educating yourself more about each tech tool offer can help you avoid missed opportunities to improve your business. Pro tip: Set aside "learning" time to dive deeper into the most common tech tools and software you use. Attend webinars, watch instructional videos and reviews, read articles, and talk to other agents about how they use the same tech to improve your skills. All these tasks can help you stay updated on the latest tips and best practices for using your real estate technology. By avoiding these five common tech mistakes, real estate agents can ensure their technology remains in top shape, and they can get the most out of the tech they use. Staying current with technology and cybersecurity best practices is an ongoing process: it takes a conscious effort to stay informed and adapt as needed. Finally, if you, like hundreds of thousands of agents, have access to Tech Helpline, don't hesitate to reach out for tech support. A patient, friendly expert is available to help you overcome just about any tech challenge you may have. In addition, you can connect with a tech analyst by email, call, or chat on the Tech Helpline app, and they will be happy to help you keep your tech in tip-top shape. Other related articles: Top 5 Ways for Real Estate Agents to Protect Their Data and Personal Privacy Don't fall for it: 4 new online + offline scams and how to protect yourself Slow Searches? 4 Simple Steps to Optimize Your Web Browser 5 ways you can spring clean your tech Tricia Stamper is Director of Technology at Florida Realtors®, which owns and operates Tech Helpline and Form Simplicity.
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How to Stay Productive and Motivated in a Slow Real Estate Market
Being a real estate agent can be an exciting and rewarding career, but it also comes with its fair share of challenges. One such challenge is navigating a slow real estate market. When the market slows down, it can be easy to lose motivation and productivity. However, with the right mindset and strategies, you can stay on top of your game and thrive even in a sluggish market. In this article, we'll share some practical tips to help you stay productive and motivated, while maintaining a positive attitude during these slower times. Embrace the Power of Networking The development and maintenance of relationships are crucial in a slow real estate market. Take advantage of online platforms, industry events, and networking opportunities in your community. To broaden your professional network, go to neighborhood business events, join real estate associations, and partake in social activities. Make contact with other agents, lenders, and business leaders in your field who may have leads or recommendations. By networking, you increase your chances of discovering opportunities and potential clients in addition to maintaining your involvement in the real estate community. Refine Your Skills and Knowledge A slower market provides a perfect opportunity to sharpen your skills and expand your knowledge base. Take advantage of educational resources such as webinars, workshops, and online courses to stay updated on industry trends and best practices. Enhancing your expertise not only boosts your confidence, but also positions you as a trusted advisor to clients. Consider obtaining certifications or designations that showcase your specialized knowledge, giving you a competitive edge in the market. Remember, investing in your professional development during a slow period will pay dividends when the market picks up. Focus on Client Relationships In a slow market, your existing clients become even more valuable. Maintain those connections by giving exceptional service and staying in touch frequently. Keep in touch with former customers and share insightful information about the state of the market. Inform them of any changes that may have an impact on their real estate investments. By proving your dedication and commitment, you'll come to mind when they or their acquaintances are prepared to act. Prioritize customer satisfaction and establish lasting relationships because referrals from happy customers can be a lifesaver in a down economy. Adapt and Diversify When the real estate market slows down, it's essential to adapt and diversify your business. Explore new avenues and target different types of properties or market segments. For example, if residential sales are slow, consider expanding into rental properties or commercial real estate. Alternatively, you can offer additional services such as property management or real estate consulting. By broadening your scope, you can tap into different revenue streams and maintain a steady flow of business. Flexibility and adaptability are crucial in any market, and embracing change will help you stay productive and motivated during challenging times. To conclude, a slow real estate market doesn't have to be the be all, end all for your career as an agent. By employing these tips and strategies, you can remain productive and motivated, even when the market is sluggish. Embrace networking opportunities, continuously improve your skills, prioritize client relationships, and adapt your business to changing conditions. Remember, success in real estate is a longterm game, and staying positive and focused during slower periods will ultimately contribute to your success when the market picks up. Keep pushing forward, and you'll come out stronger on the other side. To view the original article, visit the Transactly blog.
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5 Ways to Celebrate National Homeownership Month
It's June — do you know what that means? It's National Homeownership Month! It's the perfect time to raise awareness about the benefits of homeownership and to encourage people to consider buying a home. This benefits you by bolstering your local reputation as a source of solid real estate information — and by helping drum up new business. After all, increased homeownership rates are great not just for communities, but for the real estate professionals that serve those communities. Here are some ideas you can use to celebrate National Homeownership Month: 1. Educate your sphere on the benefits of homeownership Step one on this journey: Education, education, education. It's unlikely that the majority of your sphere of influence even realizes that June is National Homeownership Month. Be the one that brings that knowledge to them first. One way to do this is by highlighting the benefits of homeownership on social media and your website. Fortunately, organizations like NAR and HUD make this easy. Check out the resources below for information, tools, videos, social media sample posts, and other creative assets you can share with your sphere of influence: National Association of Realtors National Association of Home Builders U.S. Department of Housing and Urban Development** ** As of this writing, HUD hasn't yet updated their page for 2023 (government bureaucracy, amiright?). However, there are still plenty of useful resources there that shouldn't be missed. 2. Highlight homeownership programs in your area Let's face it, we all know the biggest barrier to homeownership right now: sky-high interest rates combined with sky-high home prices. However, there are homeownership programs that aim to take some of the financial sting out of buying a home. Research local down payment assistance and other homeownership programs and share this information with your followers. Programs are available to the general public, teachers, veterans, first responders and other diverse groups. Your MLS, association, or local mortgage lender can be a great resource if you don't know where to start. If your MLS has integrated Down Payment Resource into their system, MLS listings will show which programs a specific property is eligible for. You can also direct potential buyers to this page to see which programs they're personally eligible for. Lenders are also creating new borrowing programs to bring homeownership into reach for more people. You can share information about these programs, as well. 3. Organize a seminar, webinar, or a home buying fair Sometimes simply demystifying the homebuying process helps potential buyers move off the fence. To help, consider organizing a seminar or webinar on the home buying process, including topics such as financing, home inspections, and closing costs. You can invite local experts such as mortgage brokers, home inspectors, and real estate attorneys to share their insights and expertise. Or, if you're feeling a little more ambitious, consider organizing a home buying fair. Bring together mortgage lenders, home inspectors, title companies, and other real estate professionals in an event that's open to the public. This event can be a great opportunity for potential homebuyers to learn about the home buying process, ask questions, and network with professionals in the industry. 4. Volunteer in your community It's always a great idea to give back and show your face in the community. Participate in local events that promote homeownership and support affordable housing initiatives. You can volunteer with local organizations such as Habitat for Humanity or attend community meetings on housing issues. 5. Show appreciation to your clients We're so often focused on potential new clients that we overlook past clients. Take the time this month to show appreciation to your existing clients. Send a personalized note or gift to your top supporters and those who refer your services to their sphere. To other former clients, consider reaching out with a home valuation report. After all, a house isn't just a home — it's an investment in the future. And people love to see how their investments are faring!
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4 Time Management Tips for Real Estate Agents
To be truly successful in real estate, or any industry for that matter, you will need to learn the art of balance. If you've studied the concept of time, you know that time is relative to the perceiver. And to some us, it feels like time moves much faster than others. It's safe to assume that some people joined this business because they could work on their own time... but are being overwhelmed by how much time it actually takes. What do you do if you are on your way to hand the keys off to a home seller you just closed a transaction with, but a home buyer walks through your door with cash in hand ready to buy a luxury home? It's an extreme example, but below we will give you a few tips on how to properly organize your day, week, month, year, or however detailed you want to go into your schedule. 1. Create Time Blocks Block out your day! You can leave a little breathing room for yourself if you are a "go with the flow" type of person, and leave space for freestyle. There are some important tasks that real estate agents will sometimes ignore because they don't have time for it. If you block out 10 minutes of your day every day for your online marketing efforts, you'll have an hour dedicated to attracting more leads to your website! 2. Prioritize Tasks Go through your list of important tasks to complete this week, and prioritize them from High, Medium, and Low. To add onto the time block strategy, create blocks for different priorities. Complete all the high priority tasks when you are fully invested in your work, instead of in the beginning of the day before you've had your coffee. 3. Set a Specific Time to Check Emails Another way to rephrase this strategy is "Eliminate distractions." Of course emails are important — but you know what? They will still be there two hours from now, after you increase your sphere of influence by hosting an open house. Read and respond to your emails in blocks as well — you will thank us for it. 4. Automate Some Tasks A great way to assist with time management is by removing a few tasks from your schedules. One of the most time consuming aspects of real estate lead nurturing is responding to all those emails! Software like Zurple automates the lead follow-up for you. Leads are responded to in a way that sounds like you are sending them yourself. The software intelligently monitors their behavior, and when it sees they are ready to take the next step in the home buying process and speak to an agent, you'll be alerted. To view the original article, visit the Zurple blog.
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Advice for Real Estate Pros: Why Your Handshake Matters
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5 New Habits of Highly Effective Real Estate Agents
The impact of technology and innovation on real estate is accelerating at a blazing speed. As a result, agents must continually learn, adapt, and refine their skills to remain the go-to local expert while providing the best possible service to their clients. Emerging technologies and inventive solutions for buyers and sellers are driving several new habits you should adopt to continue providing the best experience for your clients – and help create more inventory. Here are five vital new habits that can set you apart from your competition and contribute to your overall success today – and tomorrow. 1. Review the pre-sale renovation opportunity with all sellers Pre-sale renovations are one of the most effective ways to increase a property's value and appeal. As a real estate agent, you should make it a habit to discuss potential renovation opportunities with all sellers before listing their property. Pre-sale renovation may include suggesting minor updates such as painting or landscaping, or more significant improvements like kitchen or bathroom remodels. By being proactive and helping sellers understand the potential for a substantial increase in the return on investment (ROI) for these projects, you can help them create more wealth. Moreover, because homeowners won't pay a dime out of pocket when working with a reputable pre-sale renovation firm like Revive, you can unlock stuck homeowners: They want to sell, but their home needs improvements, and many don't have the cash. Letting your past clients and other homeowners in your sphere know about the no out-of-pocket costs when working with a professional pre-sale renovation firm will create more inventory while securing higher sales prices for these clients. 2. Use AI tools like ChatGPT to improve your communication skills If you love to write and excel in communication – great! Clients want their agents to be effective communicators. Research from the National Association of Realtors shows buyers and sellers value communication skills more than negotiation skills. However, many agents find writing a challenge and incredibly time-consuming. Today, artificial intelligence (AI) offers new opportunities to help you strengthen how you communicate with your clients. For example, AI tools can help you draft emails, create social media posts, and develop blog content. As a result, you can save valuable time and, more importantly, ensure consistent messaging. But remember that you are the real estate expert, not AI. AI can make mistakes – and sometimes even make up facts. So, it's crucial for you and your business reputation to make sure you edit and proof everything AI helps you write. Also, make sure the writing AI that assists you, sounds like you. You should maintain authenticity by editing everything you create to reflect your tone and voice. Incorporating AI into your daily routine may improve communication skills and enhance client engagement. However, always double-check for accuracy and ensure your content remains genuine and personable. 3. Leverage the power of professional staging for every listing While virtual staging is a hot new trend, it can't provide the in-person impact of a professionally staged home. Staging is a proven technique for enhancing a property's visual appeal and showcasing its best features. As a real estate agent, you should make it your habit to recommend professional staging for every listing. The benefits and advantages of professional staging include: Faster sales: Staged homes often sell quicker than non-staged homes. Higher sale prices: Staged homes can command higher prices, increasing sellers' ROI. Better marketing materials: Professionally staged homes provide more appealing photographs and videos for marketing purposes. Enhanced perception: Staging can help potential buyers visualize themselves living in the space, making the property more appealing. 4. Learn and share the long-term value of energy-efficient appliances and improvements Energy efficiency is important to modern homebuyers, as it reduces their environmental footprint and provides significant financial benefits. Real estate agents who prioritize understanding the intricacies of energy-efficient appliances and home improvements can provide invaluable guidance to their clients, helping them make well-informed decisions about their property investments. Energy-efficient homes contribute to a more sustainable environment by reducing greenhouse gas emissions and the consumption of non-renewable resources. In addition, your buyers will benefit from savings on utility bills, a compelling selling point for clients who focus on long-term value. Buyers also will enjoy improved comfort and health. Energy-efficient homes often offer a more comfortable living environment with better insulation, temperature regulation, and improved air quality. Explaining these benefits can help you connect more personally with them and help them envision a higher quality of life in an energy-efficient home. Because of their reduced operating costs and the growing demand for sustainable living, efficient homes often have higher resale values. In addition, Federal, state, and local governments may offer financial incentives for homeowners to adopt energy-efficient practices, such as tax credits, rebates, or low-interest loans. When you stay updated on these programs, you can provide valuable information to clients and assist them in maximizing their benefits. Moreover, energy-efficient homes may have a competitive advantage in your market. They will appeal to eco-conscious clients. Your knowledge of this subject can differentiate you from other agents. 5. Learn and share the impact of climate risks specific to each property No matter how you feel about the topic, climate change is a growing concern for many clients and prospects. As a real estate agent and a trusted expert, you should know the climate risks specific to the properties you sell. Your clients will likely have access to this information, so you must be well informed. One thing you can do is help your clients assess their property resilience. Many factors, including building materials, elevation, and proximity to potential hazards, are essential to understanding a property's ability to withstand climate-related events. They can also help you advise clients on the necessary upgrades or recommend the discuss coverage with their insurance agent. Want to know how climate change may impact one of your listings? Then check out ClimateCheck at climatecheck.com. Just enter the address, and you'll receive, for free, a risk assessment summary. You can proactively address potential buyer concerns and provide valuable insights into the property's resilience and long-term value when you understand all the risks a client may face. This knowledge can help you build trust and demonstrate your value as a reliable source of information in the real estate industry. The bottom line These five new habits can significantly enhance your effectiveness as a real estate agent. Staying up-to-date with the latest innovations conveys that you are the local "go-to" agent for buyers and sellers, can help create more inventory, and ultimately help you achieve greater success in your competitive real estate market. Dalip Jaggi is at once an active entrepreneur, a highly skilled technologist, and a profoundly passionate business leader. Today, Dalip is co-founder of Revive Real Estate, a PropTech company with a goal to help homeowners nationwide maximize their biggest investment.
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Here's How to Help New Agents Become Profitable, Faster
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The Dos and Don'ts of Presale Home Renovation
Selling a home can be a stressful and time-consuming process for homeowners, especially when their home needs a little love before listing. But as a real estate agent, you know that presale home renovations can make a significant difference in the value of a property and the speed of its sale. However, if not done right a presale renovation can be littered with pitfalls. Here are some do's and don'ts of presale home renovations that real estate agents should keep in mind when advising their sellers: Do's of Presale Home Renovations Focus on first impressions: Spending time and money improving the home's exterior and entryway is critical to making a great first impression on potential buyers. The property's exterior is the first thing potential buyers will see, so focusing on curb appeal is vital. This can include landscaping, painting the front door, adding outdoor lighting, and more. Keep it simple, clean and neutral: Stick to neutral colors and designs that appeal to a wide range of buyers. Improve high-traffic areas: Concentrate on the most frequently used areas of the home, such as the kitchen, bathrooms, and living spaces. Work within your budget: Establish a budget with a built-in cushion for the renovation, but stick to it to avoid overspending. Set a realistic timeline: Homeowners should plan the renovation with a realistic timeline that accounts for unexpected delays. This will help avoid rushing the renovation and ensure that the end result is high-quality. Hire a professional presale renovation firm: A professional presale renovation firm, like Revive, has the proven systems, knowledge, skills, contractor network, project management resources, design experience, and an insider view of home feature trends to make the right improvements to enhance the value of a home. Don'ts of Presale Home Renovations Over-renovate: While some renovations are necessary to make the property more appealing to potential buyers, it's crucial to avoid over-renovating. Avoid remodeling the home beyond what the market demands, as it can be difficult to recoup the cost of major renovations when selling.Keep the neighborhood and the surrounding area in mind when planning renovations, as over-improving the home can make it stand out negatively. Being too hip: Avoid overly trendy designs and finishes that may not appeal to a wide range of buyers. Skimping on quality: Avoid cutting corners or using subpar materials to save money, as it can turn buyers off and decrease the home's value. Ignoring minor repairs: Don't overlook small repairs or maintenance issues; they can add up and convey a negative impression to potential buyers. Choosing the wrong contractor: Selecting the wrong contractor can be disastrous for a presale renovation. Homeowners should research potential contractors, check references, and request proof of insurance and proper licensing. This can be a highly time-consuming process, but it is necessary to be successful. A professional presale renovation firm, like Revive, has the necessary know-how to save your client the hassle, liability, and time. A company like Revive has proven systems, knowledge, skills, contractor network, project management resources, design experience, and an insider view of home feature trends to make the right improvements that will help your client enhance the value of their home. As an agent, it's your job to help your clients make informed decisions about the renovation process before listing a property, as your advice can help maximize the value of their property. Michael Alladawi, CEO and Founder of Revive, is a Southern California real estate veteran with a proven track record as a builder, investor, and respected home flipper. Michael created Revive to share his spectrum of knowledge and help homeowners maximize their profits when selling their homes. Learn more about Michael and Revive at www.revive.realestate.
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April Is Fair Housing Month: 4 Easy Ways to Get Involved
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Tips for Beginner Real Estate Agents
Real estate agents face a variety of challenges and competition within the industry. And as a newbie, you need to make a strong impression by setting yourself apart from other real estate agents. Whatever strategies you finally develop, it is highly recommended to focus on brand building. In this article, we will discuss a few tips on how new real estate agents can build a successful brand. Continue reading to learn more! Develop a Unique Selling Proposition Competency is a valuable commodity. Therefore, your services must be unique to stand out from the competition. For example, some agents guarantee that the home will sell within a given period. It's easy to see how something like that would impress a prospective client. However, this is just an example. The responsibility rests on you to develop your own unique abilities to help you succeed in such a competitive market. Cold Calling Is Dead: Warm Them Up If you are thinking of exploring a particular area, you may consider leaving flyers or mailing leads before calling. However, automation is the best way to generate new leads. Several solutions such as real estate CRM and more will help you generate organic leads. Even Facebook ads pinned to a radius around an address at the center of your chosen area will help in lead generation. Cold calling is a form of generating outbound leads, but leads should be warmed up for it to be efficient in 2023. Social Media Social media is an excellent starting point for establishing an online presence. Create social media accounts for your business on all social media platforms and ensure that you post consistently. Share tips through infographics, photos, and videos. It's not news that people relate more to video content than other types of content. Short videos engage people a lot more, and social media platforms such as TikTok, Facebook, and Instagram are restructuring their focus on this new trend. So, share short educational and entertaining videos with your audience to get more engagement and, potentially, more leads. Set Up Your Google My Business To appear on Google Maps when someone searches for an agent in your local area, you need to set up a Google My Business account. Then, ask a couple of your colleagues to write brief testimonials on your work ethic and dedication. Also, leave a link to your calendar so that leads can book appointments with you. Some free software integrates your calendar to Google My Business; make sure to choose a suitable one. Additionally, you can use this tool to collect personal information and ask relevant questions. Volunteer You will further build a network that expands your SOI (Statement of Information for Prospective Buyers). Also, your "remarkable index" will increase, thereby increasing the probability of your word-of-mouth campaign succeeding. Advertisement Platforms such as Google, Youtube, Facebook, or Instagram allow you to advertise with a small budget and get some quick wins with landing pages and lead magnets. This investment could give you the cash flow you need to get by until you can go full-time and build on your success. Then, depending on the strategy, you can get some very warm leads within a short period of time. To view the original article, visit the Realtyna blog.
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[Podcast] Finding the Right Brokerage for You, with Brittany Walter
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The Psychology of Homebuying: Understanding the Emotions that Drive Real Estate Decisions
Buying a home is often considered one of the most significant purchases a person will make in their lifetime. Not only is it a financial investment, but it also holds emotional value. For many, the process of purchasing a home can be overwhelming, stressful, and emotional. This is because the psychology of homebuying is complex and often driven by a range of emotions. In this post, we will explore the psychology of homebuying and how emotions influence real estate decisions. Major life decision First and foremost, homebuying is a major life decision. It is not only an investment in real estate, but it also involves a significant amount of money, time, and effort. As a result, a variety of emotions, including excitement, anxiety, fear and uncertainty frequently influence this decision. These emotions can often cloud the judgment of homebuyers and lead to irrational decision making. Feeling of security One of the most significant emotional drivers in homebuying is the feeling of security. People often associate owning a home with stability and security. This is because owning a home provides a sense of permanence and stability that renting does not. As a result, homebuyers often prioritize safety and security when looking for a new home. This is demonstrated by the desire for communities with low crime rates, top-notch schools, and convenient access to services like hospitals and supermarkets. Feeling of belonging Another emotion that drives homebuying is the feeling of belonging. A sense of neighborhood and community belonging is a benefit of homeownership. This is because homeowners often become invested in their community and take pride in their home and neighborhood. As a result, homebuyers often prioritize finding a home that is in a neighborhood that aligns with their values and beliefs. This can be seen in the desire for neighborhoods that are diverse, vibrant, and welcoming. Fear of missing out (FOMO) On the other hand, fear is another feeling that can influence a person's decision to buy a house. Fear of missing out (FOMO) is a common emotion that drives people to make hasty decisions. In homebuying, FOMO can manifest in the fear of losing out on a desirable property or neighborhood. This fear can lead homebuyers to make rash decisions, like putting in an offer without conducting proper research or inspections. Additionally, fear can also manifest in the fear of making a mistake. This fear can lead homebuyers to delay making a decision or to second-guess their choices. Anxiety Anxiety is another emotion that can play a significant role in homebuying. Buying a home is a major financial decision, and the fear of making a bad investment can lead to anxiety. Additionally, the process of homebuying can be stressful and overwhelming. This stress can lead to anxiety and impact decision making. Ultimately, homebuying is a complex process that involves a range of emotions. Understanding the psychology of homebuying can help homebuyers make more informed decisions. By acknowledging the emotions that drive real estate decisions, homebuyers can take steps to ensure that their decisions are rational and based on sound judgment. Here are some tips for managing emotions during the homebuying process: Set clear priorities: Before beginning the homebuying process, it is important to set clear priorities. This will help homebuyers stay focused on what is important to them and avoid making decisions based on emotion. Conduct proper research: It is important to conduct proper research when looking for a home. This will help homebuyers make informed decisions based on facts rather than emotions. Stay organized: Homebuying can be overwhelming, and staying organized can help manage stress and anxiety. Keeping track of important documents, deadlines, and appointments can help reduce stress and make the process more manageable. Seek support: Homebuying can be a stressful and emotional process. It is important that buyers seek support from friends, family or you, their real estate agent. Having someone to talk to can help manage emotions and provide a fresh perspective on the situation. Take breaks: It is important that buyers take breaks and step away from the homebuying process when feeling overwhelmed or stressed. This can help clear the mind and allow for more rational decision making. In conclusion, the psychology of homebuying is complex and driven by a range of emotions. Understanding the emotions that drive real estate decisions can help homebuyers make more informed and rational decisions. By setting clear priorities, conducting proper research, staying organized, seeking support, and taking breaks, homebuyers can manage their emotions and make the best decision for their needs and preferences. To view the original article, visit the Transactly blog.
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Real Estate Tips: Use Confident Body Language to Generate Business
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How to Sync Your Google and Apple Calendars
Are you an iPhone owner who uses Gmail? Or a MacBook owner with an Android? If you're any kind of technology cross-pollinator, chances are good that you've had some issues synching things, like your calendar. A transaction deadline or client appointment is the last thing you want to miss, so if you use a mix of Apple and Google products, it's important to make sure every crucial date is on the the calendar you use most. Syncing your Apple and Google calendars is a great way to make sure no important dates slip through the cracks. Fortunately, that's an easy process, and the video above shows you just how to do it. Watch it to learn how to: Add your Google Account to your Apple Calendar so transactions syncing to your Google Account also show on your Apple Calendar Add your Apple Calendar to your Google Calendar to get all your appointments, tasks, and events in one place Make Your Calendar Work for You Leveraging Google Calendar for Real Estate Real Estate Smartphone Tricks: Using Your Phone's Calendar
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Balancing the Roles of 'Agent' and 'Advocate'
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Understanding and Leveraging Your Network to Grow Your Business
"Sphere of influence" has become a popular term in the real estate world, but it's more than just the latest buzzword. A sphere of influence defines your reach in the real estate market — through social, professional and community connections. This broad collection of congruent paths leading to your doorstep is where the majority of your leads will come from. So, how do you use your sphere of influence to grow your business? First, it helps to understand the concept in greater depth. What is a real estate sphere of influence? The simple definition of a sphere of influence is a collection of people with similar buying habits, desires and lifestyle preferences. While it might seem like the answer is purely quantitative — e.g., number of Instagram or Twitter followers — your sphere is determined by the character traits, interests and behavioral tendencies of your contacts. Knowing your sphere doesn't mean avoiding or ignoring those outside your sphere. Rather, it means you may simply have to put more effort into learning about new potential customers through things like networking events, paid advertising and email marketing. Past clients, family friends and colleagues are all excellent sources of real estate referrals, but don’t hesitate to reach beyond the local market to find more business. Understanding your sphere of influence in the real estate business A sphere of influence (or SOI) can seem like a vague and nebulous term to define. Luckily, there is a basic formula you can use to pin down your specific sphere: Demographic: As a real estate professional, you probably already have an idea of who your target market is. Some examples might be young professionals, first-time homebuyers or commercial investors. Distribution channels: A distribution channel is anywhere you sell or advertise. This includes social media platforms and advertising online or in local publications. Social media is essential for nurturing and expanding your SOI, as you can build an online presence and find new clients while staying top of mind with your former clients. Environment: Think about any external influences at work in your market. Broad social or economic factors can influence the real estate industry and your sphere — for example, the local job market behavior, inventory volume and infrastructure. Consider any factors in your local community affecting your own sphere of personal relationships and professional relationships. Why is growing your SOI so important for real estate agents? If you're in the business of real estate (selling/buying/renting), you can't do it all yourself. One of your greatest assets as a real estate agent is your sphere of influence because it includes potential for new business through existing relationships. Staying actively involved in nurturing your sphere will help you in more ways than just getting new leads, too. It can help you find and recruit other agents, build referral relationships with clients, keep the business cycle turning, and direct the flow of industry information to help you succeed in buying or selling homes. Real estate is often described as a business built on who you know. It's a business involving considerable personal involvement — after all, you're not just selling a house, you're selling a home. Successful agents build rapport and trust with their clients, leading to repeat business, referral business and a broader sphere. If real estate is all about who you know, it's essential to understand the individuals included in your personal sphere. When you start to think critically and strategically about your sphere of influence, you'll realize you know more people than you thought you did. Growing your SOI is crucial, but so is nurturing your relationships! Need assistance managing your SOI? Elm Street Technology is here to help! Elm Street Technology offers customized solutions to assist agents in the growth and management of their business, no matter the stage they are in. Schedule a 1-on-1 conversation today to learn how a customized solution can help you grow and nurture your sphere of influence. SCHEDULE 1-ON-1 CONVERSATION
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4 Pre-listing Steps to Boost Your Commission and Add Value to Your Clients
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5 Ways to Show Your Listings Some Love This Valentine's Day
Valentine's Day is a time to show love and appreciation, and what better way to do so than by giving some attention to the properties you represent? After all, the homes you list play a big role in the overall well-being of your clients. Here are some tips to help you show your listings some love this Valentine's Day: Declutter and organize: A cluttered and disorganized space can be a turn-off for potential buyers. Take some time to go through the property and remove anything that's no longer needed or used. This will not only improve the look of the space, but it will also make it easier for buyers to imagine themselves living there. Add some fresh flowers or plants: Flowers and plants can bring a sense of freshness and life to a home. They not only enhance the appearance of the space, but also improve air quality and can boost the mood of potential buyers. Give the walls a fresh coat of paint: A new coat of paint can make a big difference in the look and feel of a room. Encourage your clients to consider trying out a new color or pattern to attract more buyers. Rearrange the furniture: Rearranging the furniture can give a room a whole new look without the cost of buying new pieces. It's also a great way to maximize the space and make it more appealing to buyers. Create a cozy reading nook: Encourage your clients to set up a comfortable chair and a small table or shelf in a quiet corner of the home. This creates a warm and inviting atmosphere that potential buyers will love. By taking the time to show your listings some love this Valentine's Day, you'll not only improve the look and feel of the space, but you'll also increase the chances of attracting potential buyers. Happy Valentine's Day! To view the original article, visit the Revive blog. Related Reading 10 Valentine's Day Gifts for Real Estate Agents 5 Ways to Show Your Real Estate Clients Love How to Get Cold Leads to Fall Back in Love with You
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Real Estate Hindsight: Analyzing Your Successes and Failures
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Essential Tips for New Real Estate Agents
Becoming a successful real estate agent requires a fair amount of hard work and dedication. It is not just about having the right qualifications or experience; it involves developing the proper skills, knowledge and attitude to succeed in this competitive industry. Because of this, it's easy for a new real estate agent to feel overwhelmed. Luckily, by focusing your efforts in a few key areas, you can get started on the right track toward developing a successful real estate business. With the right tools and technology — and consistent online marketing efforts — you can turn your real estate license into an excellent real estate career. Don't wait to invest in a good CRM A good real estate agent is always aware of and implementing new technologies. Adopting and mastering a powerful CRM early in the process will give you an enormous advantage when it comes to time management, organization, client retention and real estate lead generation. Imagine being able to send 200 SMS messages in just one click, or schedule out relevant newsletter content for your subscribers months in advance. Not only will you provide excellent communication and quality content, you'll have more time to focus on other important real estate services like comparative market analysis and generating leads. Develop an effective marketing plan for your real estate business It's crucial for every new real estate agent to allocate a portion of their budget to marketing expenses and create a plan for capitalizing on the investment. A basic real estate agent marketing plan should include a powerful, user-friendly website with mobile-responsive design and a reliable IDX. An experienced real estate agent will utilize a combination of pay-per-click (PPC) ads, social media campaigns, email campaigns, content marketing and traditional advertising methods like print and radio ads. And don't forget: the more you understand your target audience, the more efficient and effective your strategy will be. Build your brand on social media Social media has become an integral part of real estate marketing. It is a great way to reach potential buyers and sellers, build relationships, and generate brand awareness. Successful real estate professionals make use of multiple social media platforms like Instagram, LinkedIn and Facebook to showcase their properties in creative ways and increase their online presence. Additionally, by creating relevant content that resonates with their target audience, a seasoned real estate agent can build trust and establish themselves as an expert in the field. Social media also provides agents with a great opportunity to engage with their customers on a personal level, which helps them build relationships leading to repeat or referral business. Team up with other successful real estate agents You don't have to do everything on your own! A valuable real estate agent tip for getting started in the industry is to work with a team rather than attempting it alone. Joining a real estate team is an excellent way for new agents to gain access to resources, knowledge, and expertise that they wouldn't be able to get on their own. When you join a team, you can benefit and learn from more experienced agents who have been in the business longer. You will also have access to a network of contacts and resources that can help you succeed faster than if you were starting from scratch. Working as part of a team also gives new agents the chance to develop relationships with clients that will help them build their reputation and become top real estate agents in their local market. What does it take to be a successful agent? Unfortunately, there's no short answer, but it does help to focus on the basics. The real estate world is all about building relationships, but it's also about identifying and using the right tools. With a combination of a powerful CRM, solid social media marketing and learning from other real estate professionals, a new agent can build a successful business in the real estate industry. Need help growing your business, or creating a strategy to success? Elm Street Technology offers customized solutions to assist agents in the growth and management of their business, no matter the stage they are in. Schedule a 1-on-1 conversation today to learn how a customized solution can meet your needs and help you excel. SCHEDULE 1-ON-1 CONVERSATION
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5 Roadblocks Getting in the Way of Your Real Estate Success
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The Home Improvement Projects Spring Sellers Should Tackle Now (and What to Skip)
Sellers gearing up for the spring home shopping season need to roll up their sleeves now and spruce up their homes if they want to attract a shrinking pool of buyers. Investing in improvements, maintenance and repairs could pay off when it's time to sell. New research commissioned by Zillow and conducted by The Harris Poll finds a majority of recent sellers (65%) take on at least two home improvement projects to prepare their home for sale, while Thumbtack data finds they can invest about $5,400 on average when hiring a professional to complete the most common projects. The average cost of the three most common home improvement projects recent sellers complete to prepare their home for sale, according to Zillow and Thumbtack. The survey finds that sellers who sold their home within the past two years most commonly completed interior painting (40% did this), carpet cleaning (35%) and landscaping (33%) before listing their home for sale. Data from Thumbtack shows the average cost of those projects adds up to $5,388, but can average as much as $8,249 in metro areas like Seattle-Tacoma and as little as $4,102 in metro areas like Miami–Fort Lauderdale. In addition to location, costs for these home improvements can vary based on the size and scope of the project. For instance, smaller landscaping projects, such as flower planting, lawn upkeep and shrub trimming, can cost several hundred dollars, while larger projects involving tree planting and sprinkler installation can cost thousands. "These projects can instantly boost a home's online curb appeal," said Amanda Pendleton, Zillow's home trends expert. "An inviting outdoor space, clean floors and a fresh coat of paint — particularly in the right color — can deliver a powerful signal to potential buyers that a home is well-maintained and contemporary. While sellers may be reluctant to shell out for these projects up front, those improvements can ultimately pay off, either by helping a home sell faster or for more money." Nearly 3 in 4 recent sellers (74%) believe the improvement projects they completed to prepare their home for sale helped their home sell. The top projects that recent sellers say helped sell their homes were interior painting (27%) and landscaping (21%). "A well-maintained home is one of the best ways for homeowners to attract buyers," said David Steckel, home expert at Thumbtack. "Thumbtack research finds a well-maintained home can sell for about 10% more than a similar home in average condition. Buyers are making life's biggest investment, and they want the peace of mind that they're investing in a home that was well cared for." When considering which projects to skip, only 11% of recent sellers thought appliance repair or replacement, and roof repair, maintenance or cleaning helped sell their home. Meanwhile, fewer than 1 in 5 of recent sellers (17%) believe completing a kitchen renovation to prepare their home for sale helped sell it. While costs vary depending on the work done and materials chosen, this project can average $10,355. Neglecting needed repairs and minor cosmetic updates can lead to seller regret, particularly in today's shifting market. The Zillow survey found that 30% of recent sellers think more home improvements or repairs would have helped them get a higher sale price. Separate Zillow research finds that about 2 in 3 real estate agents believe today's sellers are mistaken if they think they don't need to make home improvements before selling. Late April is traditionally the best time to list a home for sale, which means now is the time to get a jump on any repairs or improvements. Previous Zillow research found that the top seller's regret is that they didn't start the process of preparing their home for sale sooner. And one-quarter of sellers who made at least one home improvement before listing their home for sale say it took longer than expected. Today's housing market is far different than the frenzied pandemic era of bidding wars and record-fast sales. A recent Zillow analysis finds that homes are now lingering on the market for a median of 54 days, 45% longer than last year. However, the listings that are finding buyers are doing so in 18 days nationwide, suggesting the most appealing homes are still moving very quickly. A trusted local real estate agent can help sellers decide which projects are worth the investment based on the market in their neighborhood, and Thumbtack can help homeowners find a local professional to get the job done.
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How to Network Successfully to Grow Your Real Estate Business
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How to Take Advantage of this Real Estate Market
Agents, how are you viewing this market shift? Rather than seeing it as a slow-down period, you should be thinking about it as your chance to gain the upper hand and boost your business for years to come. Now that you can come up for air, it's time to focus on your business, budgeting, and best practices. With the new year just arrived, now is the perfect time to be planning out your action plans for 2023 and beyond. Here's how you can take advantage of the market conditions to get ahead in your business. 1. Talk to Your Team With the market slowing down, this gives you a fantastic opportunity to resync with your team. As a first step to making the market work for you, you want to check in with all of the people who power the business and get their feedback on: What's working What's not working What they need help with What ideas they've come up with for improvements What their goals are for the next year This can help you get a real-time status update on your team's collaboration, productivity, and process. Opening the line of communication can also boost team morale and empower every individual to step up and share their unique insights. Pro Tip: To make this process as efficient as possible, we recommend that you give your team time to think about what they'd like to say. Set a formal meeting time and explain to them what you'd like to speak about so they can gather their thoughts in advance, rather than bringing it up unannounced — which may catch your introverted team members off-guard, preventing them from sharing their point of view. 2. Think About Connecting Your Front and Back Office Is your front and back office humming together in perfect harmony? If not, you should be thinking about how you can create seamless collaboration between your client-facing and team-facing tasks. Think seamless syncing of systems, instant data access, and a user-friendly transaction management portal that keeps everyone in the loop — helping you work better together. 3. Revisit Your Budget As we're arriving at the end of the year, it's the perfect time to revisit your budget. Take a long, hard look at your finances for the 2022 year. Pay attention to where you were overspending, where you underspent, and where you can cut back on waste. An important thing to think about when looking at your budget is that you want to be investing in tools that will generate solid returns for your business. You don't necessarily want to cut back on the tools and infrastructure that keep your business running strong. Otherwise, you could be cutting back your spending — at the expense of reducing your profitability. A strategic budget puts your dollars to the best use in order to generate more financial gains in the future. 4. Refine Your Tech Toolkit How did your tech toolkit perform for you this year? With the market slowing, it's a fantastic time for you to audit your technology. We're moving into a digital-first world, and the best agents are relying on their technology to empower their business models in the new year. Even if you don't make any changes to your tech, you might want to reach out to support teams to find out if there are any updates that you weren't aware of. You may also want to inquire about any additional training you can get to help lock in your team's expertise with their toolkit. 5. Clean Up Your Database Finally, you should take the time to clean up your database — getting it ready to do its best work in the new year. 5 To-Do's to Improve Your Database Make sure all information is current and accurate Fix any typos or mistakes in your contacts Incorporate any new information you may have gathered into your contacts Segment your contacts into categories Tag your contacts based on where they are in the transaction timeline To view the original article, visit the BoomTown blog.
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Top 5 Reasons Why Homes Today Need to Be Move-in Ready
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What You Need to Do Daily, Weekly, and Monthly to Be the Go-to Expert in Your Market
From how you spend your time to the big decisions you make, what you do today impacts the experience you'll have tomorrow. The past shapes the future, but you have control over your situation right now. If you're ready to become the best real estate team in your market, start today. Becoming Accountable to Your Business Goals Visions of amazing success require amazing action steps to make them real. The one thing holding you back from becoming the go-to expert in your local market is your team's accountability. Everyone sets goals, but not everyone achieves them. What separates the ones who want it from the ones who attain it? Accountability. Accountability is your ability to make a goal and get there. By being accountable to your goals, you will put in the work to make them a reality. Accountability empowers your goals with sustained activities and best practices, allowing you to do what you set out to do — rather than never making it because you didn't actually take the steps to get there. Earning Your Expertise Right now, it's more important than ever to know your stuff. Real estate agents who want to increase their market share need to have a finger on the pulse of their local markets and a constant eye on national trends. If your business goal is growth, you need to attract more leads and lock in their business by rolling out a five-star experience from click to close. This all happens when you're the expert in your market. That's what makes buyers and sellers trust you, viewing your value as an irreplaceable asset to their transactions. Becoming the expert doesn't happen overnight. And, even if you are the expert, you have to work hard to maintain your thought leadership in the industry. If you want to earn your expertise, you need to deploy accountability strategies. Accountability Starts Today: Here's How Ready to become the best team in your market? Up your expertise by improving your accountability culture. If you want to set your real estate business up for success, here's what you need to be doing monthly, weekly, and daily. Do These 3 Things Every Month Plan to take your team to annual and quarterly industry events, like Inman Connect, that will keep your sphere tapped into the world of real estate. Review the latest data and research publications shared by the National Association of REALTORS®. In addition to the many articles released predicting the latest trends, the monthly reports for Existing Home Sales show key market data and upcoming predictions that can help you guide your clients. Check out the latest coverage on national trends from HousingWire. This can be a great way to tap into the latest real estate conversations and hear the perspectives of research firms and thought leaders. Pro Tip: Take what you're learning and share it with your sphere of influence! Convert these data insights into regular market reports that you can send out as a newsletter to your database contacts. This can be a simple touchpoint that keeps you connected with your leads and past clients by sharing a valuable asset. After all, everyone has questions about the housing market. If you can answer those questions, you're elevating your position as the expert in your market. What to Do Every Week Look at your local data and specs. To make this part of your team's workflow, you can set aside 30 minutes in your weekly meeting to review market performance, trends, and the numbers that everyone on your team needs to know. Discuss an action plan with your team based on the market data. Local experts are always responding to the real-time circumstances of the market. To best serve your clients, map out a team-wide strategy for the week that can be deployed by the entire team. Invest one hour into training. Make a strong effort to keep up with your tech tools and troubleshoot any issues your team members may be having with your software. Keep on Track with Daily Actions Check out your local MLS. Is there anything new, from sales to listings? To be the expert, you need to know exactly what's going on in your market day in and day out. Think of this like reading the newspaper and invest a few minutes every day to explore the MLS. Keep in touch with leads. Every day is an opportunity to stay in front of your sphere. As you reach out to your active clients, follow up with leads, and stay in touch with your past clients, always operate with a service-driven mindset. Communicate with your team. Always have an open line of communication connecting your group where you can deal with any issues, stay on top of transactions, and plan for future wins. To view the original article, visit the BoomTown blog.
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7 Staging Tips to Help Your Listings Sell Faster
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[Best of 2022] What Type of Car Should Realtors Drive?
We're continuing an annual tradition of counting down our top 10 articles of the year. The following article was originally published in March and is #2 in our countdown. See #3 here. As a real estate agent, you've probably asked yourself, "Does it matter to my clients what car I drive?" There are many sides to this argument and many points to be made. We've listed these considerations agents should make with regard to their set of wheels, as well as a list of dos and don'ts. Considerations Luxury Vehicles Only Some agents may argue that a car reflects an agent's level of success as an agent. Driving a higher price vehicle indicates to your clients that you're likely succesful at what you do. Besides, riding around in a nice vehicle only elevates your service, right? Match Your Target Demographic Others think it's best to connect with whomever your client base may be. It could be awkward for you to drive your high-earning client in an older vehicle or vice versa. If you live in a rural area drive, an off-road capable vehicle such as a truck may be a better choice. If you service a beach community, you may consider a convertible. Or, if you serve a lot of young families, consider a crossover SUV or minivan. The Most Fuel Efficient Vehicle Available There are many benefits to driving a fuel efficient vehicle. If work with more buyers than sellers, this maybe is what's best for your customer base. Those driving eco-friendly vehicles can also come off as a environmentally conscious Realtor. Your Brand/Your Personal Preference What is your personal branding strategy? Do clients know you as the "cool Realtor" serving a community's up and coming neighborhood? Or the "family Realtor" with listings near great schools? Are you the "fancy Realtor" with luxury and vacation rentals? Whatever you may be known as, make sure your car matches your persona. Dos and Don'ts: DO's: Do make sure your clients are comfortable Do feel proud and comfortable of what you're transporting clients in Do make sure you can manage your personal errands in your car Do make sure your car is clean Do make sure it matches the terrain you are most likely to travel on. Ensure there is enough room for your target demographic—four doors for a family, etc. Have safety features available such as air bags and working seatbelts DON'Ts: Make your client feel uncomfortable Purchase a car you can't afford Drive a car that is too high-maintenance to manage Do have a car that is unsafe Conclusion So, what type of car should Realtors drive? A mix of your client's lifestyle preferences and your personal preference! Real estate is a people business, and ultimately your leads chose you as an agent because they like you. This is not to say that all of the above points don't matter, but ultimately real estate is about connecting with members of your local community. Consider members of your client base first and go from there! To view the original article, visit the Zurple blog.
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Friday Freebie: 67 Tips and Strategies from Real Estate Professionals
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3 Reasons Why Real Estate Agents Shouldn't DIY Their Solutions
Solopreneur is a new word that is not officially recognized by most spell checks, but it is something that applies to most real estate agents. Most agents are solo entrepreneurs. And being your own boss comes with a few strings. One major issue is solo agents are also their own employee, customer service team, marketing department, and personal assistant. Thus, some will attempt to do it all themselves. It takes a special type of person with specific attributes to succeed in the real estate industry. You are that person. However, we highly recommend adapting the philosophy of "work smarter, not harder" to accomplish your goals this year. Why You Shouldn't Do EVERYTHING 1. Time is Money We all have 24 hours to a day. You have to fit in your daily tasks as an agent. Respond to emails from your internet leads in the morning. Follow up with your potential home sellers after that. Maybe take a lunch. Cold call FSBOs. Show homes to your home buyer clients. Also, don't forget that some of you have a family to take care of! When will you fit in the other things like social media marketing, maintaining and promoting your brand image, or any other miscellaneous task that comes across your desk? 2. Focus All of us have a certain amount of mental bandwidth. Just like FSBOs thinking they can do everything themselves, it's easy to become overwhelmed. There is so much that goes into selling a home that gets overlooked. And, likewise, running a real estate business seems easy before you actually jump into it. There are so many new skills you must learn. Should you learn them all? Or unlike a FSBO, should you have an expert take care of it? 3. Energy With all the moving parts of running a real estate business, it's easy to become inundated with tasks you would rather not do. This is why top producing real estate agents will hire an assistant when there are too many leads for them to follow up with, or give leads to other agents when they have too many to follow up with. The moral of the story is that you should do what you are best at—find and sell homes for your clients. Some leads will take months to finally be ready to transact. So instead of you being on call for each of their whims, why not have somebody else do it for you? To view the original article, visit the Zurple blog.
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10 Real Estate Networking Tips to Live By
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The 7 Types of Realtors This Market Will Crush
Rising mortgage rates have caused many buyers to put the brakes on their home purchasing plans. That means there's less business to go around these days—and not every agent is going to make it. We believe, however, that there's not only room to survive this market shift, but to thrive. That belief comes with a caveat, though: if you're one of the seven types of agents in this video, your chances of making through are... not great. Do you fall into one of these seven categories? Watch the video above to find out. (Spoiler alert: if you're disciplined and organized, you'll probably weather this shift just fine.)
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How to Take Advantage of This Real Estate Market
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Remember Single Tasking? Probably Not!
The mobile technology revolution has completely eliminated the single tasking we remember from many of our pre-Palm and pre-Blackberry days. I never want to go back to that time, but rather adjust our life — and more importantly — our brain. Before I get into single tasking, here are facts from people much smarter than me. (Don't believe me? Google it!) Multitasking decreases your productivity by 40%, lowers your IQ by 17% and shrinks your brain by reducing density in area that controls cognitive and emotional control. Please re-read this section and think about yourself. I did while writing this — scary, huh? 7 Actions You Can Take Right Now So what is our plan to keep our brain from shrinking, be dumber and raise our productivity? I personally practice single tasking in spurts, and will share how in my next article. In the meantime, try these actionable steps: Acknowledge the fact multitasking is a bad thing, and decide it's time to take your life back. Teach yourself one task at a time. Try to stop daydreaming or letting your thoughts wander from the task at hand. Find a work environment free of distractions (we will discuss this point in a later article). Once in a while give. your brain a break. Find a place to reflect on your thoughts. Quickly learn to say No when folks push you to do something that gobbles up your time. Involve family and co-workers to help you stay on task. I know most of you are REALTORS® and will quickly argue multitasking is part of doing business. I will partially agree — but let's find a way to turn it off and on as needed to be successful. Personal note: After I finished writing this article and before I did my proofread, I checked my computer and phone. I answered three emails, responded to two text messages, and read a few news and weather alerts. Oh, I need help, too! Dick Betts is a national speaker, trainer and consultant. Learn more at www.DickBetts.com
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How to Reduce Stress from Tech: 4 Time-Tested Tactics
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4 Productivity Tips for Real Estate Agents
Time is money. Therefore, the more productive you are able to be with your time, the more revenue you will bring in. It's important to realize that you don't need to work 12-hour days everyday to be successful. As long as you are truly being productive with the hours you are working, you will be able to achieve your professional goals with a reasonable time commitment to work. Make an obligation to yourself to implement one or two of the productivity tips for real estate agents described below. You will see an increase in your productivity, as well as your projected revenue, that will put you on track to be a top producing agent. Delegate Delegating tasks to others is the most effective way to quickly increase your productivity. Yet it is often a struggle for many real estate agents to give up enough control to effectively delegate. If this is a problem for you, start small. Hire a virtual assistant, or virtual transaction based contract to close coordinator. Both of these positions are relatively inexpensive to fill, especially when compared to the cost of hiring an employee. You also have the ability to easily terminate their position. While these positions require low commitment on your end, they still possess the ability to significantly increase your productivity. For example, a contract to close coordinator, or transaction coordinator, performs all the paperwork tasks, and many administrative tasks related to a real estate transaction. This includes tasks such as coordinating all inspections, and ensuring all documentation is submitted on time, as well as coordinating the entire closing process. If these tedious tasks were taken off your plate, you would have more time to dedicate to tasks that would expand your business. Stop Multitasking This suggested tip for real estate agents to increase productivity comes as a shock to many agents. Many agents practice multitasking everyday at work, especially during the busy season. When a person attempts to multitask, though, one of the tasks always suffers. You simply can not commit your full attention to two tasks at the same time. When you try, you will end up missing something important for one, if not both, tasks. This results in a significant decrease in productivity, because you will most likely be forced to go back and review one of, if not all, the tasks you were trying to complete. One way to combat the habit of multitasking is to implement a chunking system. Say you need to return phone calls, reply to emails, and prepare a new listing. Instead of switching between these tasks while having your favorite podcast in the background, commit a block of time to each individual task. So, for example, you would dedicate an hour to each task in which you have no other distraction for the entire hour. After each hour, let yourself enjoy a 5-10 minute break, and then begin on the next task. Implementing this method will significantly improve your productivity, and the quality of your work, giving you reason enough to try this method out today. Set Specific Goals Specific goal setting is a tip to increase productivity that every school teaches, yet adults rarely practice. When you engage in goal setting, it allows you to have a constant source of motivation, as well as an increased feeling of accomplishment when the goal is finally achieved. This helps you to maintain drive and passion for your work. When practicing goal setting, it is not sufficient to create general goals like increasing your income from last year, growing your social media presence, or writing for your blog more. All of these goals are too vague for your progress to genuinely be tracked and therefore make it difficult to truly be held accountable. Goals such as increasing your income by a specific amount of money, successfully scheduling two social media posts per week, or posting to your blog once a week, are specific enough to hold you accountable. Implementing specific goals gives you a sense of accountability, satisfaction, and achievement that is difficult to achieve on a day-to-day basis otherwise. Utilize Technology Many technology platforms have been specifically created for real estate agents, and they can take your business to a whole new level. Utilizing advanced technology, and the automation of tasks to the fullest extent is sure to increase not only your productivity, but the prosperity of your business. There are automation tools for a variety of tasks, ranging from posting to social media, to sending emails to clients. You should be using all of them. Any tool that automates a simple task frees up your time to be working towards growing or improving your business. Advancements in technology have allowed agents to work smarter instead of harder. When you use these advancements, you are giving yourself a strong advantage that will help propel your business to a successful future. To view the original article, visit the Transactly blog.
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What Are Today's Millennial Homebuyers Looking for?
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5 Successful Morning Routines for Real Estate Pros
This post was inspired by an "unstoppable agent" rule shared by Tom Ferry: be unstoppable with your morning routine. Do you have a morning routine, or do you get up and immediately dive into your email and voicemail? Mornings set the tone for your entire day, and your willpower is at the highest right after you wake up – so make it count! This post will help you establish a morning routine that allows you to center yourself and focus on the tasks that matter the most to your real estate business. The goal is to start your day feeling optimistic and determined – and we're going to help you do just that. Follow our five tips to take control of your mornings: 1. Prepare the night before If you only do one thing, spend a few minutes each night organizing your to-do list for the next day. Develop a short list of the most important items you need to accomplish. Make it a habit to write this list before going to bed. It only takes 10 minutes each night, but can save you hours the next day. 2. Manage your energy, not your time Being in tune with your biological ups and downs can help you make great strides with your business (and personal) growth. If you take a moment to think about it, you'll begin to realize that you are better at doing certain tasks at certain times of the day. For example, if you recognize that you're best at analyzing business numbers and developing strategies first thing in the morning, capitalize on that. 3. Set your intention for the day: "I am in control" Make a conscious decision that you are in control of your day and use positive affirmations to reinforce it (I'm in control of my day. I plan to make it my best day). It may feel unnatural at first – so fake it when you're just getting started with affirmations. Before long, they will become second nature. 4. Be grateful and positive the moment you wake up Gratitude goes hand in hand with success. Appreciate things you have in your life and plan for better things to come. Create a gratitude journal and write down three things you're grateful for while having your morning coffee or tea. Make an effort to notice good things – not bad ones – and get the law of attraction to work in your favor. 5. Focus on what's important Decide on two to three things that make today a success for you and focus on those things. You want to experience the accumulation effect – incremental implementation of small steps. Bonus tip: Decide to be pleasant, charming and confident today When you say your morning affirmation, include some language on how you will act today. Tell yourself that you're going to be confident, approachable and friendly today. Tell yourself you're going to smile and make pleasant conversations with others. Doing so can help you break through an off morning and start your day on the right foot. It's no coincidence that what you do each morning is an indicator how your entire day will turn out. It's the choices that we repeatedly make that determine the life we live, the health we enjoy and the work we create. To view the original article, visit the Zurple blog.
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4 Basic Tips for Upping Your Real Estate Game
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5 Shared Traits of Highly Successful Real Estate Professionals
Some agents and brokers have over 25 closings a year, every year, while other real estate pros feel lucky to have 10. What are these top performers doing differently? Today, we're going to answer that question. We interviewed star agents and brokers around the country to identify the similarities they all share. Here are the top five characteristics of highly successful real estate professionals: Trait #1: Disciplined and Determined Top agents and brokers: always have the "big picture" in mind practice discipline and patience keep themselves focused on longterm gain don't count on quick results nurture their leads until they are ready to buy or sell their house don't shy away from "boring stuff" — they complete the right actions in the right order, day in and out are physically, emotionally and mentally present take control over their daily schedule and have well-established routines that have proven to be successful are all in — period Trait #2: Creative and Versatile Top agents and brokers are: open-minded and highly adaptable tech savvy early adopters of new technologies open to exploring new opportunities willing to engage with people from different walks of life good at connecting and networking good at maintaining meaningful relationships with potential, existing and past clients Trait #3: Heavily Involved in Real Estate and Community Top agents and brokers are: very active in their communities – they volunteer, serve on civic boards and support local businesses by the way of referrals knowledgeable about their local market, real estate trends and the impact both have on their communities keeping their finger on the pulse of their community and always researching local housing numbers consistently working closely with other local agents constantly expanding their sphere of influence through networking excited to let new contacts know they are in real estate proud of their job — they love what they do Trait #4: Focused on Exceptional Customer Service Top agents and brokers are: committed to being the best at their real estate craft ready and available to serve clients, whenever and wherever attracted to automated systems that streamline business processes without sacrificing service always honing their superior phone skills dedicated to helping as many people as possible practitioners of the "attitude of service" known to perform at their best always challenging themselves and their team to perform at the highest level possible Trait #5: Efficient and Focused on Attention to Detail Top agents and brokers are: great at delegating supported by well trained teams that help them hit their numbers reliant on self-built or automated systems that allow them to focus on developing in-person relationships with leads and clients focused on replying to new lead inquiries as quickly as possible dedicated to building trust and showcasing professionalism by providing fast and thorough follow-up sticklers for detail consistently holding their teams accountable focused on not letting any leads slip through the cracks Incorporate these five proven success traits into your day-to-day business operations to take your real estate business to the next level. What has proven to be successful for you while growing your real estate business? To view the original article, visit the Zurple blog.
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5 Great Daily Habits for Real Estate Agents
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Agents: You're Overworked! Fix It
If you feel like an overworked agent, join the club! Oftentimes you end up dedicating more than 40 hours to work, then go home too stressed and exhausted to really relax and enjoy yourself. Continuing this cycle is not good for you, or your business. So, take the steps necessary to gain control of your time, and finally make your schedule work for you. With proper time management you will be able to grow your business, while still keeping up with everything else you love to do. Follow the tips listed below to start improving your time management today. Invest in Support One overlooked aspect of time management is time allocation. You need to make sure that you are only spending your time on tasks that require your attention. For a real estate agent of course this is still a million tasks, but certain time consuming ones fall off the list. For example, all of the paperwork management involved in your transactions can be outsourced for a very reasonable fee, one which you can easily pass along to your client if you wish. Outsourcing your transactional work can save you as much as 16 hours per transaction. You can then use that time to work on revenue-generating tasks, client interaction, or even for a much needed break. Regardless, hiring a transaction coordinator can easily help you grow your business, and free up more of your time. A virtual assistant is also a good option when it comes to finding support for your business. Virtual assistants can complete a wide variety of tasks. Ranging from making social media posts, to handling your scheduling. They often don't have any real estate experience though, limiting them from helping you with many tasks involved in your transactions. So, evaluate what kind of support would be more beneficial to you, and then don't be afraid to invest in it. Have a Tentative Plan for Everyday Planning out your day helps you set goals for yourself, and keeps you on task. While it is still important to be flexible with your schedule to avoid unnecessary stress, having a baseline of what you need to accomplish everyday is never a bad idea. Plan out your day in short time blocks that allow you to focus on each task one at a time. After each block, plan for about a 10-minute break. So, for example, you could schedule social media planning from 9am to 10am, followed by a quick 10-minute walk around your block. Scheduling out your day in this way will allow you to reach maximum productivity and efficiency with your work. Seven hours or more straight of trying to work your hardest is not sustainable. You will quickly begin to feel overworked and burnt out from that approach. The benefits of a sustainable and healthy work schedule will show in every part of your life. Do not underestimate the power of taking care of your mental health, especially when it comes to your work. Set Boundaries When feeling overworked as an agent, it is a good idea to immediately start setting boundaries. Boundaries are extremely important when it comes to avoiding burnout. You need to have time away from work, as well as not feel like you're on-call 24/7 for your clients. To accomplish this, start by setting some of these simple boundaries: Schedule out one day a week, or a specific window of time each day, where you will not be available for work calls, texts, meetings, etc. Inform your clients on the best way to communicate with you. Give your clients an estimated time frame they can expect a reply from you. Have this conversation with your clients immediately, and ask them if they have any specific boundaries themselves. This ensures everyone has the same expectations from the very beginning, saving you from miscommunication and disputes later on. Clients who are worth working with will respect your boundaries, so don't feel guilty about addressing the subject. Find Your Balance When you start to feel overworked as an agent, it is important to take action quickly. You do not want to find yourself in the position where you no longer enjoy what you do everyday. So set the boundaries that are necessary, strategically plan out your day, and make sure you invest in the help that can make a huge difference. To view the original article, visit the Transactly blog.
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20 Daily Activities for Profitable Real Estate Agents
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Is Burnout Slowing You Down? Reduce Your Stress Without Losing Business
Real estate is a business of hustle. Agents are constantly on their grind, working hard to generate new business opportunities, lock in success for current clients, and grow their brand's market share. But, this routine can easily cause burnout -- and burnout causes inefficiency and reduced productivity. Even when you're putting in your best, burnout can actually make you work more hours and close fewer deals. Agents who are feeling the wear and tear of burnout, it's time to recharge your batteries so you're ready and able to excel. Here's how to regroup, reduce your stress, and become more productive. #1. The Benefits of Introducing "Strategic Renewal" Practices Into Your Workflow We all know what it feels like to be sitting in front of your computer when you're not in the right headspace. When you're running out of gas, take a moment to recalibrate and come back to the task instead of trying to speed through it. Rather than wasting time and inviting errors, you'll be able to efficiently complete your tasks. Studies show that investing time in "strategic renewal" can substantially increase your productivity at work. These activities might seem like slacking off, but they're actually helping you streamline and optimize your workflow: Taking breaks to exercise during the day. Indulging in a short afternoon nap and getting a full night's sleep. Taking frequent vacations to get your mind off the grind. Pro Tip: Start scheduling in time for self-care within your workday. Whether it's a quick nap, exercise break, healthy snack, or just a moment of "me time," you'll prevent burnout and keep your mood and energy up. It can also be helpful to plan out regular day trips or mini-vacations to help you clear your head and recalibrate. #2. Prioritize Tasks with the Eisenhower Matrix Have you heard of the Urgent-Important Matrix, also known as the Eisenhower Matrix? This is a system that helps busy individuals prioritize their to-do lists by identifying the most urgent tasks. This system was actually invented by President Eisenhower to help him strategically move through his daily task list. The Eisenhower Matrix is perfect for busy agents, whose workloads usually consist of very different tasks — like client outreach, transaction to-do's, phone calls, and open houses. To begin using the Eisenhower Matrix, you'll be segmenting your tasks into four categories: Do First: The most pressing tasks that need to be completed by the end of your workday. Schedule: Tasks that are of secondary importance can be completed at a later date. Delegate: Urgent tasks that can be delegated to others on your team rather than completed by you. Don't Do: Tasks that are not urgent, timely, or important that need to remain on your radar, but don't need to be completed immediately. It only takes a few minutes in your morning to get organized and schedule your tasks for the day. Try using the Eisenhower Matrix every day for two weeks to see if it helps you become more productive, on-task, and methodical. Pro Tip: Don't forget to share this system with your team. At your weekly team meeting, it might be helpful to conduct a business-wide Eisenhower Matrix session where your team prioritizes and schedules out tasks that need to be completed that week. #3. Leverage Automation to Take the Load Off Your Plate Spreading yourself too thin? You don't need to be glued to your desk 24/7 to be productive. If you feel like you have too much to do with too little time, take some of the responsibilities off of your plate by leveraging digital automation tools. One of the best areas of work that agents can automate is their lead generation and follow-up. In addition to freeing up your schedule, automation tools can actually help you reach more leads and provide better, faster customer service. For example, today's leads demand instant service. It's likely that you're not able to follow up with every new online lead within a few seconds — but an automated system can ensure that you're hitting every mark, every time, at the right time. When it comes to keeping in touch with your CRM prospects, automation can ensure that you're staying top of mind with everyone, including your previous clients. Scheduling custom outreaches to your database contacts and nurturing new leads are both covered when you deploy a system like BoomTown's Success Assurance. To view the original article, visit the BoomTown blog.
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[Podcast] Advice for New Agents, Resources, and the LGBTQ+ Community with Anthony Vulin
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Finding Your Niche in Real Estate
Members of niche markets tend to be passionate about their specific interests, values, and hobbies. As a result, they're more likely to talk about those interests -- and your brand -- with people they know, resulting in social network shares, conversations, and other word of mouth "advertising" that makes your brand seen and heard. Become an Expert But what is your niche market and how do you establish your reputation as an expert? Start by thinking about what you are interested in. What do you have expert knowledge in that sets you apart from other agents? This could be anything from first-time home buyers, luxury homes, or location specialized properties like golf courses or beach front properties. Promoting your niche on your website as well as in your farming or email campaigns will show you have knowledge in the specifics needed for that area of expertise. See also: Want to Make More Money? Consider One of These Real Estate Niches Get More Listings: Pursue Absentee Owners Find and Promote Your Niche You can also take a look in your area to see what a needed niche may be. For example, focusing on new construction properties in an area already saturated with luxury agent specialists. You'll also want to promote your niche where you can. Using your website or social media specifically are great and easy ways to get the word out that you are the best agent to represent that market. See also: Choosing a Marketing Niche to Dominate Using Competitive Data Real Estate Branding by Niche Market Will Grow Your Business How to Find a Fantastic Niche Selecting and Selling to Your Real Estate Niche To view the original article, visit the IXACT Contact blog.
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How to Convince FSBOs to Use an Agent
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The Introverted Real Estate Agent's Guide to Networking
Everybody thinks that all real estate agents are outgoing, talkative, and lack inhibition (in a good way, of course). While that may be true about some of the population, real estate agents come from all walks of life. One demographic you might be surprised that exists in real estate are introverts—and you'd be surprised at how effective introverts can be at networking. Are you the type of person that is "shy until I get to know somebody," then you might be an introvert. Introverts might not be the best at commanding the attention of an entire room, but they are experts at building authentic relationships with their potential clients. If you are an extrovert, some of these tips may offer perspective or even give you an alternative strategy for networking! Don't Go to Networking Events Networking events are filled with people that want to meet as many people as possible for future possible collaborations. You might not thrive in this environment, because there are many people that come to these events to increase the quantity of their network, not necessarily the quality. Instead, you should attend events that you enjoy where networking opportunities are present. Meeting a lender at a networking event is great, but being in the same bowling league as somebody who happens to be a lender is even better. Wear Something You Get Complimented on Often Do you get complimented on that fancy red scarf? Or your floral necktie? Wear that more often! This will make it more likely that people will initiate conversation with you, instead of the other way around. Think of your fashion as a fishing hook. Once you get a compliment, reel them in with a short story. "Thanks, I'm wearing it because _________." Then continue the conversation from there! Get People to Talk About Themselves Getting people to talk is about themselves is a great tool to have in your toolbelt. This will help prospects become more comfortable in sharing information with you. As a person starts talking more about themselves, you will be able to gauge if that person is likely to move soon and thus become a buyer or seller! Some easy questions to ask are: What brings you here? What are you hoping to get out of this? What do you have going on right now? Be the Connector When it comes to networking, most people will be in it for themselves. It really stands out if you do something for others. After getting to know people on a more personal level, everybody else you meet is an opportunity to connect people. The more you are the connector, the more you become the connective tissue in this mini-community you inadvertently created. Everybody knows each other through you, so when one of their friends or family is ready to buy a home, you will be the first person they recommend. They will remember the value you brought into their lives by introducing that plumber, contractor, fellow sports fan, etc., into their life. Use Facebook! Social networks are a goldmine for introverts. By posting content that people can engage with, or engaging with other people's content, you can get to know people and build a stronger rapport for when you meet them in real life. A great place to start adding comments is on posts from your local news station about local areas. You don't need to comment about real estate, just your thoughts on whatever topic they are talking about. The more people see you, the more people you are engaging with, the more they are likely to work with you! To view the original article, visit the Zurple blog.
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What Makes a Successful Real Estate Agent?
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Rush or Renovate: What's the best advice to give your sellers?
In the past, when a hot seller's market began to cool, listing agents often advised their sellers to get their homes on the market ASAP. They didn't want their clients to miss out on market momentum. But today, sellers have many new options, including the ability to choose a presale renovation. The real estate market is shifting. But successful real estate agents know that staying on top of the local market trends ensures they provide their sellers with the best — and most current — intelligence and sales strategies. The questions for real estate agents today are, "What's the best advice to give your sellers? Is there a way to avoid trying to 'time' the market? Would your seller benefit from a new way to maximize their home sale profits — with a presale renovation that increases their listing price – and not spend a dime out-of-pocket?" Real estate agents can best help their sellers by thinking like a home flipper in today's market. A changing real estate market The one universal truism for real estate is that it is local. So what's happening in the real estate market in a nearby suburb may be completely different than where you live. Nationally, trends are signaling a shift. For example, real estate brokerage firm Redfin reports a drop in recent home touring activity in their markets, declining 6% since January. In addition, mortgage purchase applications nationwide are off 10%. The rapid rise in mortgage rates has significantly impacted first-time buyers, who find it much tougher to afford a home. The monthly payment for a median-priced home has jumped almost 50% because of rising mortgage rates. The National Association of Realtors recently reported national home sales fell 3.4% in May — the fourth straight month of a sales decline. In addition, month-over-month sales dropped in three of four major U.S. regions, while year-over-year sales were lower in all four regions. Yet prices are still trending upward, and an existing home's new national median price was $407,000, eclipsing the $400,000 mark for the first time. Moreover, well-qualified buyers are still buying higher-priced homes because they can afford them despite higher mortgage rates. Keep in mind that buyers using cash purchased one in four homes. In some markets, all-cash sales are more than 50% of the market. Considering that iBuyers only make up a little over 1 percent of all sales, you quickly realize that there still is a tremendous amount of purchasing power in today's marketplace. Take the money and run? In a market where inventory is still historically low and prices are still rising, agents may be tempted to tell their clients to listen to the Steve Miller Band and "take the money and run!" But when we look at the numbers for sellers who opt for a presale renovation, agents might change their tune, giving sellers advice from Pet Shop Boys: "Opportunities (Let's make lots of money)." Research tells us that most homeowners who put their home on the market "as-is" are missing out on between 15% and 20% of the value. A presale renovation unlocks that capital. Instead of rushing to list, by taking a little more time to make intelligent renovations that have a proven ROI, sellers can earn an average of $186,000 more when they sell. We also know that renovated homes sell 72% faster and provide an average return on investment greater than 250%. Presale renovation is the hottest tool in today's real estate market because it provides massive property gains. In addition, presale renovations deliver a triple win: with a bigger sales price comes greater profits for sellers, higher GCI (gross commission income) for agents, and more brokerage revenue. The impact of presale renovation is potentially massive. Total U.S. annual existing home sales typically average between 5 million and 6 million. If just 5% of these homes took the presale renovation path, that would generate $56 billion in additional wealth for home sellers. That would generate an additional $1.4 billion in agent real estate commissions and $280 million in additional brokerage revenue. Thinking like a home flipper When you flip over 1,000 homes in Southern California, you learn a lot about how to maximize the value of a house. You figure out the best renovations to make and the ones to avoid. You understand the importance of establishing a network of reliable, high-quality contractors and how to keep them busy and working exclusively for you. As a real estate agent giving the best advice to a seller today, you don't need to be a house flipper; you need to think like one. The No. 1 goal of a flipper is to figure out how to get the most money out of a home sale. That's the new tool for sellers that a presale renovation offers a listing agent. By recommending a presale renovation firm, sellers and their agents won't do any of the heavy lifting: all the work is being done for them. Sellers also don't spend a dime upfront yet can tap into tens to hundreds of thousands of dollars in improvements to boost their home sale price. Like a flipper, a presale renovation firm is taking a risk, too, but delivering the benefits of a successful flip back to the seller. Agents also benefit by understanding the impact of recommending a presale renovation from a holistic point of view. When an agent recommends that a seller renovate versus rush to list their home, they do more than increase the money a homeowner receives from selling their home. Agents also are helping people create wealth. If an agent helps a seller increase their wealth by $100,000 or more, that home sale can be life-changing for the seller and their family. A successful presale renovation also can create a powerful lifelong bond between the seller and the agent who recommended this new path. You can learn more about the benefits of presale renovations and the massive wealth it created for customers at revive.realestate. Michael Alladawi, CEO and Founder of Revive, is a Southern California real estate veteran with a proven track record as a builder, investor, and respected home flipper. Michael created Revive to share his spectrum of knowledge and help homeowners maximize their profits when selling their homes.
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5 Habits That Will Lose Real Estate Agents Money
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Share and Show Your Expertise as a Real Estate Agent to Achieve Success
Knowledge without wisdom is just a bunch of facts. Having wisdom is knowing how to use your knowledge to achieve success at something. When you want to know how to brand yourself in real estate, applying knowledge, the correct tactics and strategies is fundamental for longevity. The National Association of Realtors reports there are over 3 million active real estate licences in the U.S. alone—that's a lot of agents competing for listings. So you need to make yourself stand out by showcasing your expertise, using current prop-tech, and building your brand. Be that one in 3 million whose name gets remembered, whose number is on speed dial, and who is the neighborhood "expert" for all things real estate. Why focus on yourself? While it is important to know how to become a successful real estate agent through the licensing and educational process, narrowing your focus to highlight your expertise can make a difference in your marketing outcome. The saying "Jack of all trades" is relevant in real estate. To master your skills and gain an advantage as a real estate agent, you should choose your niche carefully. Real estate transactions encompass more than finding a few listings and hoping they sell quickly. Find your niche, whether it be a specific geographic area or working with condos versus single-family homes. Don't expect every interaction with the consumer will materialize into a listing or a sale. When you learn how to succeed by accepting failures as a stepping stone and not a wall, the road ahead will be smoother. Top real estate agents focus on filling their funnels with prospect after prospect using great marketing tools like 3D tours. If one goes astray, there will be another one waiting to fill the spot. Be the standout agent Build your brand by applying your knowledge of the industry and sharing your expertise. Share tips about everything from staging a home to why 3D tours help sell homes faster. Use your social media accounts to consistently engage with the consumer by offering more than the average agent. When you want to stand out, you have to make a point of interacting with the public at every opportunity. Ask questions regularly to keep communication flowing and to assert your influence. People want answers, and if you can provide them with the right ones, you are well on your way to standing out in your chosen niche. Building your website with good content, helpful blogs, and links to your listings' virtual tours and floor plans is how to brand yourself in real estate. When your internet presence is remarkable, your brand speaks volumes. Don't forget to include professionally shot virtual tours and photos—leave the smartphone pics for selfies and personal memories. Investing in your future Never stop investing in yourself if you want to become a successful real estate agent. If you want longevity in the real estate industry, investing in yourself is the way to stay current and on your game. Choose to attend conferences and attend webinars sponsored by your local real estate board, NAR, and other associations connected to the profession. Learn from your peers and get insight into what is happening now and what to expect for the future of real estate. Learn things like why 3D tours are taking the industry to new levels, speak with builder associations to find out what's new with construction products and floor plans. Many industries contribute valuable ideas to the real estate business, and when you network with them, you stay current. Do it for them (and you) Your clients want you to use the latest technology. It's not a question of why; it's a question of when. Use technology now. There is no reason for you not to be providing 3D tours and immersive floor plans with every listing. It is the part of the listing presentation that makes you stand out in the eyes of your seller, and it makes you stand out to potential buyers. With the right tools, winning the listing presentation is simple. Using technology is how to brand yourself in real estate. Cutting edge companies like iGUIDE® have everything you need from accurate measurements and floor plans to virtual tours and analytics. Sharing is easy by embedding the 3D tours directly onto your website, sending a few 360° tours of specific rooms via social media, and narrating a virtual tour from top to bottom. How does all this help you? It gets you recognized and it shows value to both the seller and the buyer. Don't stop believing Competition is fierce and the market waxes and wanes, but that is no reason to give up your dream of becoming a successful real estate agent. Your never-say-die attitude is what got you into real estate in the first place. Keep that killer instinct and forge ahead because the only thing keeping you from succeeding is you. With proptech on your side, you can show your expertise like a seasoned professional. For more information regarding iGUIDE, click here. To view the original article, visit the iGuide blog.
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Will Your Real Estate License Transfer to Other States?
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What Real Estate Agents Can Learn from Facebook, Amazon and Netflix
Tech giants are great models to compare to your own business. You want to be able to scale your workflow and earn more income. There is a very important lesson that real estate agents can learn from these companies. The biggest names on the internet are Facebook, Google, Amazon, Netflix, Instagram, YouTube, and Spotify. These are websites that consumers go to on a daily basis, causing massive revenue growth for each of these companies. As a real estate agent, you are nowhere near as big as these companies, but what works for them can work for you too. Here are four lessons real estate agents can learn from today's technology giants. Personalize the Experience The reason we go to the above listed websites so often is because our experience is personalized. Facebook shares with us relevant posts. Amazon suggests products we would be interested in purchasing. YouTube recommends videos based on what we've watched. With real estate, you will want to personalize the experience starting from the time they become a lead — not just when you get them face-to-face. This can be done by sending them appropriate listings based on their serach criteria. Or communicating with them based on that individual's past behavior. Understand Why They Are Searching Why are they on your website? Do you know if they have a home in mind already? Do you know if they are looking for an agent? Do you know if they are thinking about moving? Each lead you generate has their own individual intentions, and they should be catered to as individuals. The reason most real estate leads never go anywhere is because most real estate agents will treat online leads like they are ready to see homes. This is often not the case, and will drive leads away from you and towards your competition. If they are in the beginning stages of their research, treat them as such. In the realistic couple of months it takes them to finally raise their hand, they'll go to you because you've been checking in and providing relevant information. Encourage Repeat Visits The reason these sites are so successful is because it encourages repeat visits. If you can't bring your real estate prospects back to your site, then it makes it harder for them to convert into clients. On average, real estate leads will visit a Zurple website 2.83 times. The more site visits you get, the more real estate clients you have, the morning income you generate, and the more you can pour it back into your business to continue the cycle. Stop their Search for an Agent What are home buyers looking for when they are doing real estate research on the internet? Homes. Additionally, they want to know about the neighborhood and the nearby schools. Don't give them any reason to do another Google search. Having all that information readily available on your real estate website will give them more reason to not go to any other websites. To view the original article, visit the Zurple blog.
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10 Ways to Stand Out in a High-Competition Market
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The Skills Needed to Be a Top Producing Real Estate Agent
Upon entering the real estate industry, every new agent has the dream of becoming a top producing real estate agent. While this is a dream shared by many, few are actually able to attain it. An overwhelming number of new real estate agents leave the profession after two years. This is because they are unable to meet their commission expectations, or are not able to fully commit to the profession. Don't let that be you. How do you become a top producing real estate agent? This can be a daunting question at first. It is necessary to ask at the very beginning of your career if you hope to have the building blocks needed to eventually become a highly successful agent. While there are multiple elements to becoming a top producing agent, focusing on the specific skills you need to develop is a good start to becoming a successful agent. Nurturing these skills and mastering them takes an extensive amount of time. Therefore you should begin the journey as soon as you get your license. Skills to Focus On Skills refers to skills sets that need to be nurtured and developed in order to be successful as an agent. These skill sets are specific to real estate agents, and can be difficult or time consuming to develop at first. Stay committed, though. An intense dedication to the profession, and skills required of it, is needed if you ever wish to be a top producing agent. Communication Having good sales and communication skills go hand-in-hand because you truly can not have one without the other. Without amazing communication skills, you will never be able to close a sale. As a real estate agent, you need to be constantly communicating with your clients. Always keep them in the loop on everything that happens. A home is a massive purchase and home buyers want to know exactly what is going on every step of the way. Therefore, you should always give timely responses with email, text, or phone calls. Try to always stay ahead of your clients. When they are forced to ask you questions all the time and always initiate the conversation, it leads to stress and mistrust—two things you definitely do not want your clients to feel. So you should do your best to always give them all the information you have access to. This hopefully answers their questions before they even ask them. Sales Many real estate agents take a consultative selling approach. You are not selling a product that nobody needs. Everyone needs a home, and your job is to help your clients make informed decisions about purchasing one. Top agents focus on discovering their clients' wants and needs, and then finding a way to meet them. Whether those wants and needs are specific to the home itself, or the service you are providing, it is essential to ensure the client feels they are in good hands. Even when using a helping approach, top agents know they should always be focusing on closing. If you are not consistently asking for the appointment, contract, listing agreement, or whatever the next step in sales the process may be, you will never get it. How you conduct follow-ups is another primary factor when considering your sales skills. In the real estate industry, having frequent and productive follow-up encounters is a must. All the best agents know that it takes numerous follow-up encounters to turn a lead into a client. Therefore, you should always be planning multiple encounters with any leads you have. Whether that encounter be over email, social media, or in-person, successful follow-ups are vital to your prosperity as an agent. It is also a great idea to ask the question, "How do you become a top producing real estate agent?" to any experienced agents you know. Experienced agents have years of sales knowledge to share with you, as well as knowledge of all the other skills you need to excel at in order to be successful as an agent. If others have developed tried and true tactics for closing a sale, who says those tactics can't work for you as well? Local Real Estate Market Clients want to be able to ask any questions about the local real estate scene, and want you to be able to give a complete and informative answer. These questions could pertain to anything from the safety of neighborhoods, to the best school districts, to the lifestyle amenities offered in a specific community. Knowing all this information off hand is obviously a lot to expect of you, but having this skill and knowledge will only prove to be beneficial. Over time, attaining this knowledge will come easier with experience. At the start of your career, though, it is best to spend a quality amount of time doing research on the area you will be servicing. Being able to articulate extensive knowledge of the area will impress your clients, as well as get you positive reviews and referrals from them. Transaction Management Having extensive knowledge of how real estate transactions are conducted and completed is also necessary. It is recommended that you even attain additional designations such as a CRS. It is vital to have your paperwork organized and done on time as a real estate agent. Many top producing agents even utilize a transaction coordinator to ensure that their paperwork is always done to the highest quality. Versatility As a real estate agent, you will be working with numerous different personality types and numerous different communication styles. It is simply the nature of the work. You are not able to be picky about who you choose to take on as a client. You must also be able to give each client an amazing real estate experience regardless of the type of person they are. That's why it's necessary that you be versatile in your communication and sales skills. Be prepared to present information in a variety of different ways, and hone the ability to add versatility into your scripts and objection-handlers. Creativity Versatility goes hand-in-hand with creativity. Constantly be thinking of creative solutions and ideas to implement. Interact with potential leads on social media, start your own real estate blog, or utilize video emails. Those are only a few examples of creative and innovative ideas to implement, but there are countless more if none of those fit your style. Being rigid and inflexible in your work will only cost you money. Clients want to feel like their business is valued and that you consider them a priority. So it is always in your best interest to stay on top of the latest industry trends and continue to constantly think of your own creative ideas to ensure your clients' satisfaction. How to Be a Top Producing Real Estate Agent While there are many elements to being a top producing agent, focusing on the skills required of the profession should always be a priority. Your skills as a real estate agent can always be developed and nurtured, so make sure that is always of your utmost concern. Becoming a top producing agent takes time, dedication, and a commitment to continuously improving on your skills. If you are willing to put in the work, you will create a career you love and excel at. To view the original article, visit the Transactly blog.
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How to Fire a Real Estate Client Gracefully
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[Podcast] Decoding Real Estate: Improving Dollar-Producing Productivity Without Stressing Out with Terri Murphy
"Available day or night," "Multi-tasking" and "Call me during dinner" are shock collar terms that sound like they belong to hard working real estate agents. However, they're actually impossible to achieve and do way more harm than good. Communication specialist Terri Murphy discusses the importance of self care and how to properly balance work and life in our latest episode. Terri also explains the importance of setting goals, setting boundaries, how to stay focused, and why delegating smaller tasks can make you a more dollar productive agent at the end of the day. There's also tips on how to say "no," decreasing the stress in your life and how to stop procrastinating. Tune in today to learn some systems and methodologies that will keep you on track and in sync. Decoding Real Estate is hosted by Reggie Nicolay and Genie Willett. Subscribe/Follow And be sure to check out these helpful and relevant links: TerriMurphy.com Realtors Property Resource Listen on: Apple Podcasts Google Podcasts Spotify Stitcher To view the original article, visit the RPR blog.
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5 Ways You Can Spring Clean Your Tech
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What Do People Have Against Real Estate Agents?
As an agent, you may have encountered people who don't have a positive view of your profession. Unfortunately, such attitudes are prevalent: as of the last Gallup poll, only 25% of people have a high or very high opinion of real estate agents -- far lower than the percentage of people who trust funeral directors, and barely higher than the percentage who have a high opinion of lawyers. Whether it's the myth that home buyers and sellers won't suffer if they don't use a real estate agent or the incorrect idea that the average agent is ripping off naive consumers, you may sometimes be fighting against negative or unfair stereotypes. Factors you can't control, such as historically high home prices and rising mortgage rates, can engender consumer frustration about real estate in general. But the reality is that certain behaviors are bound to sour consumers' attitudes about real estate agents. What should you avoid doing so that you don't further sully your profession's reputation? Here are five agent behaviors that turn consumers away from using real estate agents: 1. Being Unresponsive The first behavior that causes consumers to dislike or distrust real estate agents is being unresponsive. Some agents don't respond to inquiries and messages from leads and clients in a timely fashion – or at all. Being a high performing agent means responding as fast as possible as often as you can. If somebody contacts you when you're busy, don't be afraid to send a quick text message explaining that you can't pick up. You can also consider using an auto-responder, or keeping separate work and personal phones to better identify high-priority calls and contact. 2. Technological Incompetence Fair or not, being technologically challenged is a quick way for real estate agents to lose the respect and confidence of consumers. After all, purchasing any kind of professional service – including partnering with a real estate agent – is more likely than ever to occur online. That means that agents owe it themselves and their industry to be as technologically savvy as possible. Having a smartphone in your pocket is a good start, but is only truly useful if you can use it to prospect for leads, schedule home tours, communicate with clients about your progress, and even collect digital signatures. 3. Lack of Knowledge About the Housing Market By now, just about everybody is aware that the housing market has gone gangbusters. Home prices have been unusually high for nearly two years – but consumers don't need an agent to tell them that. If there's a sure way to give yourself and other agents a bad name, it's to demonstrate a shallow understanding of the housing market. Being a master of your craft means knowing the broader market pressures and opportunities – not just how home prices are rising but why, and whether that will stop soon, or will be affected by interest rate hikes. Nobody can answer these questions definitively, but remember that as an agent you are there to do more than buy or sell homes: You are the person your clients turn to for leading insights about the market. 4. Neglecting to See Clients and Leads as Individuals Being an expert about real estate broadly isn't enough to avoid alienating clients. You also must demonstrate an understanding of each individual lead or client's goals, aspirations, and expectations. Just as no two homes are exactly the same, no two clients share the exact same goals. What could be a dealbreaker for one client won't matter to another at all – but you'll only know that if you take the time to learn it. Remember that while you will sell and buy hundreds of homes over the course of your career, your clients will typically only go through a real estate transaction a few times. Don't let leads think you are cavalier or inattentive about the gravity of their real estate transaction by showing that you understand their individual goals. 5. Failing to Solicit and Display Testimonials from Satisfied Clients Some agents are doing everything right, but an average consumer wouldn't know it. Don't make that mistake: Solicit and display testimonials from satisfied clients to let consumers know that you're a professional they can trust. If you were hiring for a job, you probably wouldn't take seriously somebody who told you all about how great they were but couldn't provide a single positive reference from a past colleague. Real estate works similarly: People aren't going to trust you, or agents in general, if you don't have documented, positive reviews from satisfied clients and impressed colleagues. You should keep past clients' contact information and share specific instances where you helped people buy or sell a home. Also, remember to request positive, plentiful reviews on Google, so that it is clear to searchers that you are a competent, honest agent with integrity. To view the original article, visit the Homesnap blog.
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5 Weaknesses that Make Real Estate Agents STRONG
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Tips for Working Harder and Smarter Your First Year in Real Estate
A good friend of mine is approaching the end of her first year in real estate. An established interior designer comfortable running her own part-time business, Sara is also a busy mom and active community member. Multitasking during her rookie year was not the biggest challenge Sara faced. She simply needed to either add more hours to the day or outsource certain aspects of her life. Here are some ways Sara worked smarter and not harder this year and still found time to engage with her family and friends and maintain a work-life balance that suited her growing career. Meal Preparation One of the biggest challenges working professionals face is what I like to think of as the six o'clock scramble. Whether you are coordinating after-school activities, walking pets, or stuck in rush hour, getting a healthy meal on the table is an exhausting and exhaustive daily accomplishment no matter who is tackling the domestic duties that day. To help alleviate the burden, but still stay on budget, Sara used a meal kit delivery box like Hello Fresh or Blue Apron to save on grocery ordering and pick up. Capitalizing on the opportunity to engage her children and teach them a new skill, Some bigger cities offer commercial "make it and take it" meal assembly services like Let's Dish! Many households find preparing many meals at one time (freezing or lining labeled containers in the refrigerator) greatly cuts down on daily cleanup and helps reduce the temptation to eat out or order takeout. House and Yardwork For many working adults, there comes a point in our careers where our earning potential allows us to outsource house and yard work, either regularly or on an "as needed" basis. If your monthly budget and savings goals allow for a house cleaner or lawn care service, having even a few hours of assistance each month can free up your time to spend with friends, family, self care, networking or growing your client base. In Sara's case, her rookie year happened to be in the prime of the Coronavirus pandemic. With everyone home for the better part of two years, Sara's entire family pitched in and got creative with how and when they worked on school, jobs, and cared for their new dog. She also admits to folding many piles of laundry during her daily team briefings on Zoom. Streamlining Networking Already accustomed to working with clients in her interior design business, Sara had a solid client base but a different need for communication and marketing in a complimentary industry. She already knew the value of direct mail, referrals, and regular check-ins. Within the span of six months, she realized a real estate CRM—in Sara's case, IXACT Contact—was the key to growing her business, staying organized, and managing her time. To view the original article, visit the IXACT Contact blog.
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10 Things You Need to Know about FEMA Risk Rating 2.0
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5 Tips for Increasing Your Income as a Solo Agent
So you did a great job this year, but you think you could do more. You've read the books. And most entrepreneurial reading materials will give you advice, but mostly vague tips that apply to everybody -- instead of your individual business needs. What can a solo agent do to increase their income next year? Here are five tips for solo agents to increase their income: 1. Trim the Fat This is a very obvious way to increase the output of your business—but what is not very obvious is what needs to be trimmed. At the top of the list of things to cut are typically things you are paying for that don't return their investment. What about what you are NOT paying for? Make a list of tasks that you do on a daily or weekly basis, then write a dollar amount for what you estimate that generates you. If time is money, you should also cut things that are not contributing to increasing your income. 2. Outsource Some Tasks One of the best ways to trim the fat is by outsourcing some of the tasks that take too much time, you don't like doing, or you are not an expert in. Some agents will hire transaction coordinators or personal assistants. Some agents will hire a local marketer to write all their content. We would recommend also looking into some services that can automate these tasks for you. 3. Have Systems in Place You can sign up for all the tools you can afford, but they don't mean anything unless you are actually using them. This applies primarily to CRMs, but can pertain to almost anything. For example, if you outsource your social media posts, you should know what to do when somebody comments on a post or sends a direct message. How do you utilize that service to generate more leads that turn into real estate transactions? 4. Stay in Touch Most notably, all successful agents that have been in the industry for 10+ years will tell you that keeping in touch with your contact database is crucial to having a business that will perpetually run itself. By leveraging email marketing, social media marketing, or even picking up a phone—you are building relationships. Those relationships that you build today are the checks you will be cashing tomorrow. 5. Work on Increasing Your Average Commission To double your income, you don't necessarily need to double how many homes you close. You can focus more on optimizing your processes and the end result. By following the steps in this article, you can save time. To increase money, you can also put an emphasis on increasing your comissions. This can be by selling higher priced homes or increasing your comission. To view the original article, visit the Zurple blog.
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What Type of Car Should Realtors Drive?
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How Do Real Estate Teams Work?
Are you thinking about joining a real estate team or even building a real estate team to grow your business? You probably have a very important question: How does a real estate team work? Real estate teams work by being both efficient and effective. They are a development in the industry that is allowing agents to reach new heights in their careers while giving clients the best possible experience. What Is a Real Estate Team? A real estate team is two or more real estate agents who split commissions and work together toward a common goal. This team can be as small as two agents or it can have five or more licensed and unlicensed real estate professionals. With a team structure, the team works collaboratively to generate leads, manage listings and clients, combine marketing efforts, and develop professionally. How Do Real Estate Teams Work? Real estate teams are a collaborative effort. Team members work together and support each other with every client, and clients take notice. A client can contact any team member to answer any questions they may have, even if they are primarily being served by another agent on the team. This gives clients access to a real estate agent at almost any time of the day, helping them to relax and enjoy the real estate experience. The more positive your client's experience, the more likely they are to recommend your services. The team leader is at the heart of how the real estate team works. The leader often serves as a mentor and generates most leads for the team. They help guide other team members toward the common goal, set up systems to support the team, recruit or hire new team members, and manage how the team is run. Here's a look at some of the most common areas of real estate team operation. Working Toward Common Real Estate Team Goals One of the key elements of the team operation is working toward a goal. Real estate team goals are developed by the team leader and ideally broken down into short-term and long-term goals that can be tracked. While revenue is important, top real estate teams also set goals that support a sustainable business model and foster professional development and future referrals and leads. How do real estate teams work toward their goals? Through training, mentoring, collaboration, shared resources, and effective systems in place. A goal may be split evenly among team members, or several goals can be set with each team member working toward their respective goal that's best suited to their skills and contributes to an overall team goal. Real Estate Team Commission Split: How Do Real Estate Teams Split Commission? How do real estate teams get paid? Real estate team compensation for team members can be done in many ways. Members can have a flat rate if they are on a salary, the commission can be divided by set intervals, or the commission can be split based on performance. When building the team, the team leader should give plenty of thought to the right real estate team compensation model. Keep in mind the brokerage split usually stays the same. Team members will need to split the commission they receive. In most cases, the team leader receives anywhere from 20% to 50% of the total commission earned depending on their role. Real estate team splits may be determined by the team structure and duties. Some teams create a real estate team commission structure based on their goal, such as growing referrals. No matter which real estate team commission split you decide on, make sure it's reasonable, not too complicated, and in writing. This compensation model should be included in your real estate team agreement. Real Estate Team Structure Defines How Real Estate Teams Work The next crucial element of how a real estate team works is how it's structured and the duties of each team member. How to structure a real estate team will depend on the goals you have set and how you plan to run your business. Two-person teams can be comprised of two top real estate agents who pool their resources to grow their business and generate more leads. A larger brokerage team can include a team leader responsible for listings, two, five, or more buyer's agents, and a host of support team members such as showing agents. All real estate agent teams are different. Think of the real estate team structure as the blueprint for how the team works and how responsibilities will be shared. Shared Responsibilities and Collaboration One of the benefits of working on a real estate team is collaboration. Team members help support each other's clients and grow their business together to make everyone more successful and clients happier. This collaboration may involve bouncing marketing and open house ideas off each other, turning to team members with specialized knowledge, or brainstorming sessions to improve day-to-day operations and reach long-term goals. Even though the basis of every real estate team is collaboration, team members specialize in tasks. Real estate team roles defined with a clear team structure are important to make sure each team member is doing what they do best, all important elements of the business receive dedicated attention, and metrics can be tracked efficiently. Real estate agent team responsibilities are usually divided among team members as follows: Listing Agent(s) – CEO or Team Leader Listings – Specialists to Generate and Promote Listings Buyer's Agents – Buyer's Specialists Support – Transaction Coordinators, Assistants, Administration Marketing and Communications – Specialists in Advertising and Listing Promotion Many teams exist because single agents realize that there is too much involved in real estate transactions and day-to-day operations to effectively do it all for every client. That is why teams, and specialization on those teams, has developed so strongly in the real estate industry. Training, Education and Professional Development You completed your training and obtained your real estate license. Now, you may realize that nowhere in your training did you learn how to secure business for yourself. Therefore, to progress into the best real estate agent possible, you need to find support and a mentor. This is exactly what a real estate team can offer. Real estate teams can be a powerful tool for new agents to develop the skills and knowledge they need to become successful on their own. Many teams have weekly training sessions where agents will share successful tactics they have implemented. These sessions can be on anything from how to talk to new clients to how to effectively work with investors. Teams provide an educational opportunity that is difficult to replicate elsewhere. New agents are not the only ones to benefit from continued training. Experienced real estate agents know that you must evolve and be continuously learning if you want to become a top producing agent. Real estate teams work with you to help you achieve that goal. This opportunity for professional development fostered through collaboration and mentoring from agents with different specialties is a core element of how a real estate team works together. Shared Resources How does a real estate team work to make the best use of resources? Most real estate agent teams pool resources to reduce costs and increase revenue. Teams can share resources that are expensive or challenging to acquire and manage on their own such as: Leads Marketing resources Software for customer relationship management (CRM) and transaction management Personal assistants Transaction coordinators This approach gives team members access to a breadth of resources and tools that help them reach their full potential. The team can also better generate and capture leads with systems in place for social media marketing, phone calls, and more with less time spent on administrative tasks. Legal Considerations for Real Estate Teams There are many important considerations when working on or creating a team. Here are just some areas that must be considered to remain in compliance with state real estate regulations. Real estate team names must follow any state regulations. In Ohio, for example, there are real estate team name rules prohibiting the use of the words "real estate" or "realty." Real estate team advertising may have additional regulations. The brokerage name may need to be included prominently, for example. Teams must be supervised by a managing broker. Some states require brokerages to have specific control. In Maryland, the brokerage must designate a team leader who has specific qualifications. Special care must be taken to ensure unlicensed team members do not perform tasks that require a license. Dual agency disclosures are crucial and all team members must be compliant with confidentiality laws regarding shared clients. Benefits of Joining a Real Estate Team Now that you know how a real estate team works, you can probably already see many of the benefits that have encouraged 26% of Realtors to build or join a team. Here are just some of the reasons joining a real estate team may be right for you: Better work/life balance Opportunities to expand your business and revenue Support from fellow agents and administrative team members Opportunities to collaborate and develop professionally through mentorship and hands-on training Providing better representation to clients These are only a handful of the advantages that you can expect to receive when becoming part of a real estate team. Evaluate your current situation and determine if any of these benefits could positively impact your career! To view the original article, visit the Transactly blog.
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What Kind of Real Estate Agent Do You Want to Be?
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Tips to Start Your Real Estate Career on the Right Foot
Don't you just love new beginnings? You're filled with ambition and hope, ready to embark on a fresh new chapter of your life--it's so exciting! Maybe you're getting ready to begin a new career in real estate, or perhaps you're a seasoned agent who can recall the thrill of the early days. Either way, there are a few key things to keep in mind as you start your real estate career (or keep it going). Here's how to start your real estate career on the right foot: Start in control, and stay in control. In the early days of your real estate career, it's especially important to build good habits that will carry on for years to come. Build yourself an organized foundation so you don't make mistakes like losing someone's contact information or forgetting about an appointment. A real estate CRM is the best way to help you stay in control of your work day. Appointment reminders, automated emails, and a handy task list are just a few of the ways that a CRM helps you ensure nothing falls through the cracks. And if you're a veteran agent who needs to regain control of your workday details, it's never too late to start using a CRM! Find a mentor, or a community of mentors. A career as a real estate agent requires you to be highly motivated. Agents often work for themselves, which takes an extra measure of drive and determination! Even the best "go-getter" will have days where they need a little inspiration, and that's where your community comes in. Take advantage of Facebook groups, ActiveRain and the colleagues at your brokerage by asking questions. Established agents offer a wealth of knowledge and are often happy to share their insight with a real estate rookie. Participating in the real estate community is a terrific way to gain wisdom and motivation when you're working on your own. Prepare for the slow season. Do you remember the story of the grasshopper that sang all summer and was left with nothing to eat when winter came? Take note! This fable applies to your career too. While it might feel like the real estate business is feast or famine, there are strategies you can use to keep your business booming year round. On average, a buyer is actively looking for a home for between three and six months, which means that if you got a new client tomorrow, they may still be months away from ready to make a move. Prime the pump by continuing to prospect in your busy months to fill the pipeline for when things quiet down. Make the time to prospect, understanding that it can be a long-term process before those prospects become leads and clients. Follow this crucial step and you'll be well on your way to kick starting your real estate career on the right foot! Build your database every day. We mentioned the importance of starting good habits early in your career, and this is one that we can't stress enough. Set a goal of adding one new contact to your database each day. These are people you can follow up with for referrals or even for direct business in the future. It may sound daunting, but adding new contacts can be as simple as offering to keep someone informed on home-ownership and requesting their contact information. Sincerely offering them value is key when it comes to requesting someone's phone number or email address. Make this habit a part of your daily interactions and watch your database grow! Many prospects will begin their search for an agent on the web, so make sure you're there to be found! A well designed agent website will help you establish your presence and generate leads online. Furthermore, a website that looks professional and reflects your personal brand will build credibility. Don't be forgotten. In the midst of prospecting phone calls, listing appointments, open houses and community events, your keep-in-touch efforts may fall by the wayside. Don't let this happen! The frightening truth is that many clients claim they would use the same agent again, but simply don't because they can't recall their agent's name! Don't let that happen to you. Establish a web presence. Be memorable by keeping in touch with your database on a regular basis through a monthly e-Newsletter, direct mail, drip email campaigns and phone calls now and then. Your real estate CRM can automate many of these tasks, making you look like a keep-in-touch pro with minimal effort! Keep smiling! While I hope the vast majority of your days as an agent are good ones, we're all sure to have a tough day now and then. Try to remember why you entered this career in the first place, think positive, and carry on! These are especially good days to call a mentor or log in to ActiveRain for some inspiration. Onward and upward! Are you a new agent who has gotten their license within the past 12 months? Let IXACT Contact help you kick start your real estate career on the right foot by taking advantage of the Rookie Agent Program and try IXACT Contact for 6 months FREE. To view the original article, visit the IXACT Contact blog.
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Real Estate Advice: Dealing with Disappointment
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4 Lessons Real Estate Agents Can Learn from Tinder
Online dating and real estate marketing have some surprising similarities. Here are four lessons that agents can learn from searching for "The One" online: 1. Photos Matter Just yesterday, I was looking at a listing in San Diego, trying to look at homes for sale. I found one in my preferred neighborhood and price range — but the agent only posted a single smartphone photo of the exterior of the house—parked cars, cluttered yard and everything. As a home buyer, I'm not going to bother considering this listing. In contrast, I found a condo that's slightly smaller and more expensive, but it had a nice selection of photos where I could imagine filling the home with furniture. This condo I'm actually considering. 2. People Can Identify a Mass Message A strategy that some people use that has a high failure rate is to copy and paste an opening line to be sent out to 50+ potential matches. The truth is, for every 50 "NOs," there is a chance for at least one "YES." However, the community of people receiving those messages can share it with other people and hurt your reputation. You should always give it your best when you're up at bat. Make a genuine attempt to get to know the real estate lead's needs before trying to get them to sign a contract. 3. Understand What the Other Person Is Looking For In order to build rapport and get more personal with your real estate leads, you need to know what they are looking for. Maybe one lead is looking to relocate because of a career change. Maybe one lead is going through a tough divorce and needs to downsize. Maybe another lead is not looking to buy a home within the next two years, but is curious what home prices are like right now. This will help you be more likable, but also make prospects more likely to open your emails when you send them relevant information. Every lead is a human being, and each person should be treated like an individual. 4. Know When to Make a Move Once you understand what your real estate leads are looking for, you will know what the appropriate move to make is. Some agents will assume a lead filling out a form means they are transaction ready within 28 days. This is not the case. For the "just looking" lead, you will need to nurture them a little longer. For the lead who wants to be shown a listing, you can adjust your email campaigns to fit their needs. To view the original article, visit the Zurple blog.
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How Are Agents Laying the Groundwork for a Successful Year?
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Share and Show Your Expertise as a Real Estate Agent to Achieve Success
Knowledge without wisdom is just a bunch of facts. Having wisdom is knowing how to use your knowledge to achieve success at something. When you want to know how to brand yourself in real estate, applying knowledge, the correct tactics, and strategies is fundamental for longevity. The National Association of Realtors reports there are over 3 million active real estate licenses in the U.S. alone—that's a lot of agents competing for listings. So you need to make yourself stand out by showcasing your expertise, using current proptech, and building your brand. Be the agent whose name gets remembered, whose number is on speed dial, and who is the neighborhood "expert" for all things real estate. Why focus on yourself While it is important to know how to become a successful real estate agent through the licensing and educational process, narrowing your focus to highlight your expertise can make a difference in your marketing outcome. The saying "Jack of all trades" is relevant in real estate. To master your skills and gain an advantage as a real estate agent, you should choose your niche carefully. Real estate transactions encompass more than finding a few listings and hoping they sell quickly. Find your niche, whether it be a specific geographic area or working with condos versus single-family homes. Don't expect every interaction with the consumer will materialize into a listing or a sale. When you learn how to succeed by accepting failures as a stepping stone and not a wall, the road ahead will be smoother. Top real estate agents focus on filling their funnels with prospect after prospect, using great marketing tools like 3D tours. If one goes astray, there will be another one waiting to fill the spot. Be the standout agent Build your brand by applying your knowledge of the industry and sharing your expertise. Share tips about everything from staging a home to why 3D tours help sell homes faster. Use your social media accounts to consistently engage with the consumer by offering more than the average agent. When you want to stand out, you have to make a point of interacting with the public at every opportunity. Ask questions regularly to keep communication flowing and assert your influence. People want answers, and if you can provide them with the right ones, you are well on your way to standing out in your chosen niche. Building your website with good content, helpful blogs, and links to your listings virtual tours and floor plans is how to brand yourself in real estate. When your internet presence is remarkable, your brand speaks volumes. Don't forget to include professionally shot virtual tours and photos, and leave the smartphone pics for selfies and personal memories. Investing in your future Never stop investing in yourself if you want to recognize how to become a successful real estate agent. If you want longevity in the real estate industry, investing in yourself is the way to stay current and on your game. Choose to attend conferences and attend webinars sponsored by your local real estate board, Inman, NAR, and other professional associations. Learn from your peers and get insight into what is happening now and what to expect for the future of real estate. Learn things like why 3D tours are taking the industry to new levels, speak with builder associations to find out what's new with construction products and floor plans. Many industries contribute valuable ideas to the real estate business, and when you network with them, you stay current. Do it for them (and you) Your clients want you to use the latest technology. It's not a question of why, it's a question of when. Use technology now. There is no reason for you not to be providing 3D tours and immersive floor plans with every listing. It is the part of the listing presentation that makes you stand out in the eyes of your seller, and it makes you stand out to potential buyers. With the right tools, winning the listing presentation is simple. Using technology is how to brand yourself in real estate. Cutting edge companies like iGUIDE® have everything you need, from accurate measurements and floor plans to virtual tours and analytics. Sharing is easy by embedding the 3D tours directly onto your website, sending a few 360° tours of specific rooms via social media, and narrating a virtual tour from top to bottom. How does all this help you? It gets you recognized and it shows value to both the seller and the buyer. Don't stop believing Competition is fierce, and the market waxes and wanes, but that is no reason to give up your dream of becoming a successful real estate agent. Your never-say-die attitude is what got you into real estate in the first place. Keep that killer instinct and forge ahead because the only thing keeping you from succeeding is you. With proptech on your side, you can show your expertise like a seasoned professional.
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