The Benefits of Real Estate Coaching and Mentorship for Agents
Embarking on a career in real estate is like stepping into a dynamic realm where every transaction is a new adventure, and every client interaction is an opportunity to build lasting connections.
However, navigating this bustling landscape can be challenging, especially for new agents.
This is where the magic of real estate coaching and mentorship comes into play — imagine having a guiding hand to help you master the art of negotiation, decode the market trends, and build a solid client base.
In this post, we're diving headfirst into the vibrant world of real estate coaching and mentorship, uncovering the many benefits that can take your agent journey to new heights.
Shortcut to Success
Imagine yourself beginning your real estate career with enthusiasm, but you're also a little bit like a deer caught in the housing market's headlights. A mentor can help you out in this situation by arming you with a wealth of information and experience. You can avoid potential pitfalls, seize opportunities, and avoid the steep learning curve with their guidance. A fast track to success is provided by real estate coaching, which equips you with the resources you need to get started right away.
Personalized Growth Plan
Real estate agents are unique, just like no two homes are. A general strategy for success simply won't do. Real estate coaching excels in this area. A knowledgeable coach will collaborate with you to create a unique growth strategy based on your strengths, weaknesses, and objectives. It acts as a GPS for your career, pointing you in the direction of the fastest path to achievement. Your coach will be your compass, guiding you in the right direction as you develop everything from your marketing plans to your negotiation techniques.
Unlocking Potential
Do you recall the first time you looked at a fixer-upper and recognized its true potential? A mentor does exactly that for you. They have a talent for spotting skills you may not even be aware you have. A mentor will push you to get out of your comfort zone, motivating you to push your boundaries and accomplish more than you ever imagined. You'll discover your potential and understand that the sky is the limit for your real estate endeavors with their assistance.
Networking Goldmine
Real estate is a people-driven industry; it involves more than just real estate. Long-term success requires creating a strong network. A mentor not only imparts wisdom, but also provides access to a wealth of contacts. Your mentor's network becomes your network, and it includes everyone from other agents to mortgage brokers, appraisers, and lawyers. These relationships may offer opportunities for collaboration, advice, and referrals that will advance your career.
Market Mastery
The real estate industry is a multi-headed beast. It can be a buyer's paradise one day and a seller's paradise the next. It can be difficult to keep up with these dynamically shifting situations. However, a mentor is your industry expert. They are able to read the market tea leaves like a fortune teller because they have survived market cycles and ridden trends. With their insights, you'll be better able to deal with market changes, seize profitable opportunities, and make successful decisions.
Confidence Booster
Starting out in real estate can sometimes feel like standing on stage without knowing your lines. Doubts and uncertainty can chip away at your confidence. But fear not! A mentor becomes your personal cheerleader, boosting your confidence and helping you develop a strong belief in your abilities. As you conquer challenges and achieve milestones under their guidance, your self-assurance will soar, allowing you to tackle even the most daunting tasks with ease.
Accountability Partner
In a world where distractions abound, staying focused on your goals can be a Herculean task. This is where a mentor acts as your accountability partner. They'll help you set goals, create action plans, and hold you to your commitments. Knowing that you have someone rooting for your success and holding you to your promises can be a powerful motivator, keeping you on track even when the going gets tough.
In conclusion, the real estate world is your playground, and coaching and mentorship are your secret weapons for conquering it. From personalized guidance and networking opportunities to market mastery and confidence boosts, the benefits of having a mentor by your side are immeasurable.
So, whether you're a fresh-faced rookie or a seasoned agent looking to up your game, consider embracing the power of real estate coaching and mentorship. With the right guidance, your journey from 'agent' to 'ace' is just a mentor away!
To view the original article, visit the Transactly blog.
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Why Is Housing Inventory So Low? Tips for Overcoming Market Challenges
Welcome back to our "Tips and Tricks Tuesday" series, which highlights articles around a monthly theme. August's theme is "Finding more homes for sale." Read on for tips and tricks for finding business even in challenging market:
The real estate market continues to grapple with persistent inventory issues, creating a challenging environment for both buyers and sellers. As demand for housing remains strong, the supply of available properties struggles to keep pace, resulting in a highly competitive landscape.
In the latest episode of Destination Coaching, TRIBUS coaches Johnny Pfeiffer and Brandon Doyle discuss these inventory issues in real estate today. They go over what it actually is, how it happened and what is to come of it. Find out their thoughts about Zoom Cities, market efficiency, construction and interest rates. For more content like this, head to destcoaching.com and sign up for a free call today.
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How to Convert an Internet Lead via Phone
The strategies you use to successfully convert leads are a big factor in your level of productivity. As we are able to find leads through an increasing number of channels, it can be challenging to identify the best ways to move toward conversion. Taking advantage of the opportunities that come via the internet can require some new ways of thinking and creative combinations of tools that you might not have tried before.
One traditional, yet effective way to move an online inquiry into the pipeline is to make contact by phone. Following up is critical, and it's amazing how frequently initial contacts are ignored. For example, the WAV Group measured lead responsiveness from a sample of 384 different brokers across 11 states. Researchers inquired about online listings and recorded the data on responses by agents. In their experience:
48% of buyer inquiries were NEVER responded to
Average number of call back attempts after the initial contact was 1.5
The average number of email contact attempts was 2.07
Average response time was 917 minutes (or 15.29 hours)
So, strategy number one: RESPOND. Beyond that, many industry coaches recommend using the phone to convert these online leads. Here's a roundup of wisdom on the subject.
#1. Tom Ferry
Ferry's blog is loaded with information, videos, and interviews. He has an energetic style and provides specific tips for being more effective in using your phone for lead conversion.
Tom Ferry's 6 Communications Tips
Know your customers' pain and know their problems. Examples: market conditions, past purchasing experiences
Know your dialogues. If you want to be good on the phone, you have to practice! When you know what to say and how to say it, you can be more in tune to your customers' needs.
Get to the point! Example: "I'm calling today to schedule an appointment…" Give two options for setting a time.
Stand up when you are making calls! Your body controls your tonality and your emotional state.
On the phone = 20% effective sensory communication. Remember that when you talk, you are only engaging in one sense out of five. Speaking clearly is important.
Get the fear out of the way with these three questions: What's the worst case scenario? What's the most likely scenario? What's the best case scenario?
#2. Jared James
A professional speaker, author, coach, marketer and entrepreneur, Jared James has a YouTube channel filled with tips and tricks for lead conversion. He makes no bones about the critical nature of timing. Five minutes can be the difference between a deal and no deal —and industry experts like Jared, Chris Smith and others agree.
When you contact a lead within the first five minutes of their initial inquiry, the chances of converting that lead go up 100x. That's because there's context around that moment—they're still on your website, they're still thinking about you, and they haven't been taken over by the wave of all the other things on their plate. Jared talks about how to do this yourself—or with an inside sales assistant—and reminds you to perform an immediate call back rather than leaving a voice message.
#3. Ken Goodfellow
On Ken's blog, the topic of lead conversion is often discussed, and Ken recognizes the importance of the personal touch that a phone call creates. Initially follow up with the lead through email or text—but follow up with a personable phone call shortly after. Simply restate your position in a unique and refreshing manner.
#4. Lee Davenport
A quality CRM is part of any follow-up and lead conversion strategy, and Lee Davenport offers great insights into what features your CRM should have to help you respond quickly to incoming inquiries. She mentions a situation that most agents can relate to: You're sitting in a three-hour CRE course and receive an inquiry. Will your CRM automatically respond to the inquiry with a personalized message? Here are some more functions Lee recommends.
To view the original article, visit the Wise Agent blog.
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How to Become a Real Estate Coach
Many successful real estate agents dream about becoming a real estate coach. However, few know how to actually take the steps to make it happen. With that in mind, we've created a guide on how to become a real estate coach. Keep reading to learn what a real estate coach does, the benefits of starting your own coaching business, and the exact steps you need to follow to make this dream a reality.
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5 of the Best Real Estate Coaches in the Business
The best real estate coaches are known for their success and expertise in the industry. They share their methods and tactics with you in order to help your business grow like never before. Real estate coaching would benefit any agent, but especially one who is committed to the success of their business. If you value continued education and training in the real estate field, coaching is one of your best avenues to attain that. Begin your journey of growing your business, and furthering your real estate knowledge today by considering one of these top coaches to guide you.
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How Real Estate Coaching Can Help You Achieve Your Goals in 2020
Think of the biggest professional goal you'd like to achieve in 2020. Maybe it's a goal you've had your eye on for years, or a new feat you'd like to accomplish. No matter where this goal came from, real estate coaching is the surefire way to make sure it actually becomes a reality! The independent nature of the industry increases the demand for accountability. If you need a hand keeping yourself on track, look into real estate coaching.
To get you motivated, here are just three ways real estate coaching will help you achieve that big 2020 goal.
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How to Break Through a Plateau in Your Real Estate Business
Plateaus. We have all been there whether it is in our personal life or in our professional life--it's an unavoidable barrier that we all deal with at some point.
It may seem like plateaus are never-ending and impossible to break through, but in this blog I will go over 10 different things that YOU can do to elevate yourself and your business to the next level. Nothing is ever impossible, including you breaking through to new, exciting levels!
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Time Management Strategies for Overwhelmed Agents
Done correctly, prioritizing tasks and creating time blocks can increase your income and allow you to work less. Dirk Zeller, international speaker, author of Successful Time Management for Dummies and CEO of Real Estate Champions, recently shared his advice for "Taming the Time Management Monster" in a recent Secrets of Top Selling Agents webinar.
According to Zeller, every interruption, even if the actual interruption is only 30 seconds, takes five minutes to recover from. That means that every 12 interruptions cost you an hour of productivity. "We get interrupted by all different mediums – personal face-to-face interruptions, social media interruptions, email, text; all types of interruptions," Zeller explained. "Real estate agents are the most interrupted profession on the face of the planet."
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The Dance between Patience and Mindful Real Estate Sales
In real estate, we are quickly handed the industry rhetoric as to how things are, the proverbial "blueprint for success." Follow this concept, this model, and you will achieve the reward. We quickly hit the ground running because we have the consistent set of waves coming in known as bills, debt, and so on. There is no time for patience or for reflection. Instead, it's I need to go DO something or the industry will leave me in the dust, I will lose to the competition, I won't be able to pay my bills or maintain MY lifestyle.
Take a deep breath... the momentum and tension builds and builds until it works against us completely.
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The Biggest Secrets to Closing More Sales
When most people start in real estate, they're looking for the fast track to success.
Real estate coach Kevin Ward is revealing why that mentality never works and how you can become a leader in sales.
Check out the 2:24 mark for some great insight.
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Five Steps to Getting Back in the Groove, Fast
If you want to jumpstart the approaching selling season, the best place to start is with a massive "reach out" program. Here are five steps to implementing a reach out program for guaranteed results.
Step #1: Decide "Who you gonna call?"
Unless the Ghostbusters are looking for a new clubhouse, it's probably not them. Try these people instead:
People in your database (past sellers, buyers, strategic alliances)
Old and new leads
People who recently reached out to you on social media, text or email
Next, gather the contact details for these people ideally from your CRM, or add them to your CRM or create a spreadsheet to stay organized.
Step #2: Schedule two hours every day, five days a week to reach out.
Generating business is the single most important use of your time as an agent. Create an appointment for this on your phone or calendar and keep your appointment every day.
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Why Your New Year's Resolutions Will Fail (and How to Fix That)
If you didn't achieve your resolutions this past year, you're in the majority of 76 percent of people who eventually gave up on their resolutions.
The stats are discouraging enough with 69 percent of individuals who choose not to make resolutions at all, but maybe they're on to something. This year, why not do something a little different?
Don't make a resolution. Create a new habit.
In order for your resolutions to stick, you need to change your behaviour. In order to change your behaviour, you need to rewire your brain.
Through the use of MRIs, neuroscientists have discovered that habitual behaviour is created from thinking patterns that create neural pathways. These become the default for your behaviour when faced with a decision.
For example, you probably don't have to put much thought into whether or not to brush your teeth at night. If you're about to go to bed, the neural pathways in your brain don't require you to make a decision – you just brush your teeth.
These same studies have shown that making a change in your behaviour by simply "trying harder" can have the opposite effect. Real change requires new neural pathways, which are created once you adapt a new habit.
So how do we create a new habit?
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The Sales Springboard: 'I Need One More Sale'
Every real estate salesperson makes this statement periodically. We look at our results, we look at our bank balance, and we decide that we want more business right away.
As a sales coach for over 17 years now, I realize that "one more sale" you are looking for so urgently is actually preceded by a need for something else. I call it the "sales springboard." The Sales Springboard is the catalyst that generates the sale. As a rule of thumb, no springboard – no sale.
Here's a list of some common sales springboards that you need to have available to make things happen faster:
Springboard #1. Following up with your database on a daily basis using the tools at your disposal. Remind your past clients and your centers of influence you are there to help them.
Asking for referrals comes from building a comfortable rapport. That rapport comes from staying in touch personally – remember "the business of business is still people."
Springboard #2. Being comfortable with using scripts and dialogs in a conversational fashion (much better than "winging it"). This is taking "what to say and how to say it" and fashioning the conversation around a style that is comfortable for you.
Don't change who you are, just enhance how you say things.
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3 Ways to Be More Consistent with Your Marketing Efforts
Everybody wants to be successful. Many agents have all the knowledge, skill and expertise to become the best Realtor in their market. Yet so few Realtors ever realize the position of "top producer" in their area.
Why is this? If "Agent X" is just as smart, talented and proficient at practicing real estate as "Agent Y", why is it that Agent X is a top producer, and Agent Y is considering choosing another profession?
It's very simple. Top producing agents are consistent in everything they do. They market themselves and their listings in consistent, measured ways every day, ensuring their pipelines are never empty. "Feast or famine" is not in the vocabulary of a top producer. Instead, they have a clear defined path to success, and they religiously follow that path, constantly evaluating and tweaking it. They do this until they've realized maximum results and solidified themselves as the thought leader that every homeowner should call to list their home.
Some of you may feel overwhelmed at the notion of trying to organize your real estate practice to achieve this. Odds are, you've even tried in the past. It may have worked tremendously well. So well, in fact, that you were at maximum capacity and had to stop marketing yourself to take care of the clients you had at that moment—only to later realize your pipeline is dry after you wrap that business up. That's the 'feast or famine' scenario I mentioned above.
The key is to really hone in on the definition of consistency. Remember: it's not a sprint, it's a marathon. The key to consistency is:
Small efforts, repeated day in and day out, that lead to your success
A key take-home is that this will not happen over night. If you rush it and try to do everything at once, you will inevitably get overwhelmed and fall back into that feast or famine scenario. If you focus on processes that allow you to incrementally let you do this, day in and day out, even though it may frustrate you at first, you will soon see the rewards as you become more efficient and close more business than you ever imagined possible.
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The Eye-Opening Reason Prospecting Sends Chills Down Your Spine
Prospecting leads: you've done it a hundred times. And yet, you still get that nervous chill each time.
Why does that happen? Kevin Ward, agent trainer, reveals the simple reason from your childhood.
The answer at 0:26 is shocking.
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3 Fast Solutions for More Money this Month
How would you like to make more money in the next 30 days? How would you like to make more home sales this month? Real estate coach Bruce Keith is here to show you how to do it in this short video. Check it out.
Here's the solution. Do what you FEAR. Here's how this works: if you're avoiding doing certain things, I'll guarantee you the bulk of the competition in your marketplace is avoiding doing exactly the same things. So when you step up to the plate, it gives you a big advantage (and this will equal more money).
Let me give you three fast examples that most people are afraid to do enough of, and in doing so, they lose business. Let's turn that around for you.
#1. Get comfortable tackling the fear of asking for referrals. "Well, Bruce, I don't want to be pushy. I don't want to be too salesy." Here's the best part: you don't have to be pushy or salesy. They expect you to ask. Just ask for referrals in a very comfortable way.
For example, "As you know, I'm always looking for more people to help in real estate. So I was wondering, who do you know that needs my help to buy or sell a home this year?" That's it. No big deal. It can be very conversational.
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How to Become, Stay and Feel Successful: The Final Secret (6/22)
Wednesday, June 22, 2016 at 10:00 AM PDT
Opportunity is knocking on your door. Don't complain about the noise... open it! During this 90 minutes with Hall of Fame speaker Floyd Wickman you will learn and be inspired to fulfill your full potential with the opportunities you have now. You will learn how to:
Implement the formula that will drive up your production
Keep yourself positive and focused
The number one tool to balance your family and business time
6 production secret of all top producers
Register now!
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The Secret to Making a Great First Impression
The human brain is quick to jump to conclusions, so the first few moments when you first meet someone are critical.
Famed business coach Brian Tracy goes over just why first impressions are so critical and how you can make the first few things you say count.
Check out the 1:30 mark for some great insight!
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Why Every Agent Should Get Real Estate Coaching
Ask any aspiring thespian about the "movement classes" their acting coaches and schools suggest they take. You'll get a universal groan – much like the one real estate agents emit when they describe what they were taught in real estate school as "useless."
Then, ask Joe Manganiello, an actor who landed a plum role as a werewolf on the HBO show "True Blood." He'll be happy to explain how even seemingly silly aspects of acting training, such as those "pretend you're an animal" exercises, can really pay off.
The next time you sit in front of a telephone, and dread picking it up to chant, "When do you plan on moving? How long have you lived at this address?" think about Manganiello and how you, too, might end up howling at the moon over all the money you've made – if you hire the right real estate coach.
How to Know If You Need a Real Estate Coach
If you are listing and selling real estate, chances are good you would benefit from coaching. Yes, even veterans can get something out of it. Of course the ideal time to hook up with one, though, is when you are freshly-licensed.
If you don't have any idea of your production numbers from the past three years, you don't have a business plan, you don't understand your weaknesses and how to overcome them, or you are merely trying to figure out how to raise your production – you need a coach.
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How One Agent Earned $10,000 from a Personal Note
The article below is from real estate sales coach Bruce Keith. Bruce uses a real life example to illustrate the importance of keeping in touch. Note that even if you haven't been keeping in touch with your past clients, it's not too late.
Our advice is to get on board with a top-notch real estate contact management system. You can set-up all of your leads and clients on automatic drip marketing campaigns, which makes it fast and easy to keep in touch with your sphere of influence (SOI). You can also create personalized letters and mail merge labels in a snap.
Enjoy the article:
YOU NEVER KNOW...
Having been in sales for over 40 continuous years, it is clear to me that no matter what product or service you are selling, selling is still selling. Many of my coaching clients are in real estate sales. Selling houses is the same as selling anything. You identify a prospect, you present your product, and you ask for the sale, end of story.
But it's not really the end, is it? It is actually the beginning.
Some salespeople forget to stay in touch with their customers. The truth is, most salespeople don't do a very good job of this.
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An Agent's Dirty Dozen of "Do Nots" - Part 2
This is the last of a pair of articles on what NOT to do in your real estate career. Read Part One here.
We continue with the landmines you can avoid to save you time, energy, exasperation, and possibly your career.
7. Forgetting they are always "on." It is unfortunate the number of times I have met licensees who are dressed shabbily, act rowdy, or have a mouth that a mother would have washed out with soap. The public is always watching. Being rude in a movie theatre, loudly telling a lewd joke at the front desk, or zipping in to pick up a form at the office with hair matted down from a recent gardening expedition is not something that can be taken back once it is witnessed, overheard or seen.
Recommendation: This is a simple fix. It is recognizing that you must remain professional 24 hours a day, seven days a week. That means in your dress whenever in the public eye and on your online profiles. It is much better living up to your great reputation than working had to overcome a bad one.
8. Failing to mentor each other. This is a trend that is beginning to disturb me. New licensees coming into the business have the eagerness of puppies. With praise and support, they can become the most loyal advocate that ever existed. I've seen several examples where the "old guard" only associates with those who have earned their stripes, and leave the new people out in the cold. Even when asked directly for help, I've overheard some alarming comments, "I had to do this myself, so you will too!" When did we forget what it felt like to be new? Just a small bit of guidance can go a long way!
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Prepare Now to Sell More Homes in 2013
Michael Lindstrom, nationally recognized business coach, has a client roster that includes industry leaders, public figures, top executives, professional athletes and most recently, the five winning real estate agents of the HomeFinder.com Agent Makeover Sweepstakes.
Michael has coached thousands of real estate agents for almost two decades and is an in-demand speaker at many large real estate conferences. HomeFinder.com sought Michael's expertise to coach the five winning agents on how establishing their personal brand will help improve their professional brand. Below, Michael elaborates on the top things agents should focus on for success in to 2013.
Ride the Technology Wave. Commit to learning the next wave in technology; embrace technology and make a commitment to it. Learn something new every week.
Give Back and Be Selfless. Find ways to give to your clients, community and neighborhood; contribution has a powerful place in business. Create your personal brand by operating from a place of selflessness. When working with clients, colleagues and your community, make it your personal brand to impact, move, inspire, touch or agitate them in some way.
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The HomeFinder.com Agent Makeover Teaches Agents How to Revamp Their Business
It's been a rough few years for real estate, particularly for agents. In 2011, NAR reported REALTOR® membership declined over 20% in the wake of the economic crash, indicating that many professionals have been forced to leave the industry for other fields.
With this in mind, HomeFinder.com created the HomeFinder.com Agent Makeover Sweepstakes. Almost 10,000 real estate agents entered for a chance to win a business and style makeover. "The volume of entries no doubt highlights a hunger on the part of real estate professionals to grow and learn as we prepare for the next wave in real estate," said Doug Breaker, CEO, HomeFinder.com.
Last month, five lucky winners flew to Chicago for a chance to remake both their online and offline business image. They were treated to four educational sessions designed to help them improve their real estate business, as well as a wardrobe and style makeover.
"We succeeded at providing a unique educational experience for five agents," said Breaker. "We want the chance to offer all of the real estate agents in our space insight into the best practices and expert knowledge."
HomeFinder.com has made a video series of these educational sessions available to all real estate agents. Now you, too, can learn how to makeover your business.
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Real Estate Coach Radio Daily
Guest Contributor Bernice Ross of Real Estate Coach Radio brings to us today a quick but highly informative radio show. This great show includes an interview with Janet Choynowski of Immobel.
Today Bernice discusses:
Social Media is Global Media
95/5 Facebook Rule
Two easy Real Estate Video Tips
Continue to the next page to take a listen . . .
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Tuesday Tech Tip with Maya Paveza of TheHipRoof.com
Maya strikes again, dropping some knowledge on our RE Technology readers. In this week’s video, she answers three important questions:
Android or iPhone?
How can REALTORS® use QR codes?
How should agents discuss crime stats?
Pulling from her own substantial experience and her research, she provides in-depth answers and actionable advice. For example: have you ever considered adding a QR code to your business cards?
Read on to the next page for the video!
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Tuesday Tech Tip with Maya Paveza of HipRoof.com
Tech Tip Tuesday
We’ve paired up with real estate and social media guru Maya Paveza to keep you up-to-date on all the latest tech tools. This week, Maya’s video unravels the mysteries of StumbleUpon as well as hash tags on Twitter.
Do you have a question for Maya?
Post a comment here and we’ll suggest the topic for future videos.
Do these tech tips answer your questions? Watch and see!
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Top 10 Grammar Mistakes to Avoid (Part One)
If you're like most people, writing isn't much fun. Just because you're not a gifted scribe doesn't mean you shouldn't share your thoughts. After all, as an experienced professional, you've got valuable insights that could enlighten your peers and market your services, insights that would be best expressed in writing. You need to be sure that your literary gems have a basic level of grammatical accuracy if you don't want your message to get lost through the "noise" of your mistakes.
We all have a few pesky bad grammar habits that we just can't seem to break. If you're a victim to any of the mistakes I'm about to mention, it's time to tape the list up on your wall, stick a post-it on your laptop, or have a colleague proofread your work.
I'm going to cover the first 5 mistakes here. Part Two will cover the next 5 mistakes.
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Lesson From the Wizard of Oz: 5 Things About Courage
Stopping a runaway train and saving all on board… that’s courage. Stepping in front of a bus to push a small child out of the way… that’s courage. Facing the world with a blemish on your face… that’s courage. Wearing a safety pin in your pants, praying it won’t pop open at the worst time… that’s courage.
Growing up, my primary resource for understanding the concept of courage was the Wizard of Oz on television, watching the odd foursome face peril after peril. Confront the Wicked Witch of the West? No way. The Cowardly Lion had it right… clanking knees, shaking shoulders and quivery voice and cowering in a corner. Hopefully that evil person wouldn’t see him.
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How To Take Listing Photos in Wintertime
Wintertime photography can be an intimidating endeavor to say the least. As winter life is really more about getting cozy with a hot chocolate, some popped corn, and a movie or three, it’s hard to get motivated to go out into the icy cold and shoot photos – especially photos of houses.
Can you imagine? Standing outside shivering, trying to take pictures, while people drive by laughing at you from their warm cars… terrible.
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Use QR Codes to Avoid Facebook's Pay-per-Click Charge!
I considered just holding onto this for my coaching clients, but decided this was too cool and wanted to share it with everyone. For a long while I have been recommending to agents that they use the Facebook advertising system, besides the insanely powerful demographics and ability to target your ad campaign, the price for the pay-per-click (PPC) model is really great.
What I discovered today was a total stumble upon moment. After I did the Future of Marketing 60 in 60, there was a rise in the discussion of QR codes in real estate and how effective they are, or will be. I know Lesley Lambert has been using them for a while and I defer to her as the expert for that, she is a rockstar. Some of the debates I have had have included the value of tracking the QR code to the user.
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Missed the Boat: Six Sad Reasons Most Agents Fail
I just read an article in an online real estate publication entitled "Six Sad Reasons Most Agents Fail" written by Laura Duggan. Here are her six reasons...
They don't know their numbers.
They focus on the buyers instead of the sellers.
They don't prospect consistently.
They fail to hire staff.
They fail to implement systems.
They don't write a business plan.
This article triggered a whole bunch of feedback from online readers. By and large, the feedback was fast and furious about how her perspective on buyers vs. sellers is somewhat out of date. I found the whole discussion fascinating, mostly because the entire discussion missed the most significant reason that agents fail: they allow themselves to fall into a mental trap of mediocrity. Agents don't fail because they take the 'wrong course of action'. Agents fail because they take NO action with respect to getting their heads in the game, and they subsequently fall prey to all the common threats of their profession.
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Business as Usual or Not?
Throughout most of January, Karel Murray will be hosting a number of motivational podcasts. One of these podcasts will be co-hosted by Marilyn Wilson, partner of WAV Group and co-founder of RETechnology.com.
Podcasts will run January 3, 2011 / January 10, 2011 / January 17, 2011
January 3: Learn how a business owner can build their brand if traditional advertising vehicles are not effective anymore.
January 10: Join Karel and Marilyn as they discuss how others can know when it’s time to start their own business and how to get the courage to do so – advice to the entrepreneur.
January 17: The Power of Vision – discover how you can have a vision and take your life to new heights?
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Want to Promote Conversation on Your Blog?
Read enough about blogging, and you’ll see posts, comments and questions that typically sound like this:
“How can I get more comments on my blog?”
“My blog must suck, no one ever leaves comments.”
“So-and-so must be a better blogger than I am. He/she always get a ton of comments.”
And so on and so forth.
A while ago on Active Rain (a large real estate network) there was a “featured post” titled, 10 ways to get more comments on your blog post.
It’s a good article, and I can’t really disagree with anything the author wrote.
But here’s the deal….
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Proactive Propspecting in Real Estate
There are two schools of thought it seems in real estate when it comes to prospecting in social media. There is the “you can’t” camp, led by a coach who I won’t mention, and then there is the “you should” camp, which I would say most of the rest of the world fall into. I am often asked when I speak at events how I feel about prospecting, whether I do the traditional agent prospecting activities or if I only do the online activities. I do both.
Social media and technology are wonderful resources for building your business, and serving your clients, but it does not replace the classic age-old tried and true methods we have all been well schooled in. You still need to call your sphere, you still need to call expired, you still need to knock on doors, you still need to market, but how and where you do that marketing has evolved.
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Live Your Life by Design!
"Change hurts. It makes people insecure, confused, and angry. People want things to be the same as they've always been, because that makes life easier." – Richard Marcinko.
Happy Monday! I hope you had a fantastic holiday! Hopefully you were able to relax with family and friends. It is great to see family, but I have a really hard time relaxing.
I spent part of the holiday reviewing two notebooks I have with me all the time full of ideas and thoughts. One of the notebooks had notes from a recent seminar. On one page in block letters I had simply written, "DON'T WAIT FOR A LIFE CHANGING EVENT TO CHANGE YOUR LIFE." It took me a minute to remember why I had written it and what it meant. The message was from a presenter that had been in the hospital and faced a near-death experience. He described in detail watching the heart monitor flatline on himself almost as if he were outside his body. He survived, but the experience gave him a new appreciation for life. His point was life is fleeting and fragile. If there is something you need or want to do, take action now. As always it made me start thinking.
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What Are You Thankful For?
“The Pilgrims made seven times more graves than huts. No Americans have been more impoverished than these who, nevertheless, set aside a day of thanksgiving.” ~H.U. Westermayer
“Develop an attitude of gratitude, at giving thanks for everything that happens to you, knowing that every step forward is a step toward achieving something bigger and better than your current situation.” – Brian Tracy
Happy Monday! I hope you look forward to Thanksgiving and making this short week count! It is hard to believe that Thanksgiving and the inevitable Black Friday are already upon us. Thanksgiving has always been my favorite holiday, and it generally signifies the start of the holiday season no matter what your beliefs are. Maybe it is just me, but people really seem friendlier around the holidays. I like Thanksgiving because it is a holiday centered on family and friends and appreciating what we have. It is one reason I send Thanksgiving cards not “Happy Holiday” cards.
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Make Noise and Build Traffic with Twitter
What is Twitter? Twitter is a very easy-to-use, real-time messaging system for groups and friends. Another way to think of it would be text messaging (or instant messaging) from one person to many people at the same time. The length of each message is about one sentence (140 characters).
Twitter is free and easy to use. Here are some positioning statements that may help you understand how you can derive benefits out of a seemingly low-grade social networking utility.
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Connect the Past with the Present Using Facebook
Facebook is the most popular social network by professionals stretching from college age students on up. For most, about 20 percent of the people you know are already using Facebook. Facebook reports around 400 million accounts. The younger you are, the more people you will find. Also note some of the most recent Facebook statistics:
More than 500 million active users
50% of our active users log on to Facebook in any given day
Average user has 130 friends
People spend over 700 billion minutes per month on Facebook
More than one million websites have integrated with Facebook Platform
More than 150 million people engage with Facebook on external websites every month
There are more than 150 million active users currently accessing Facebook through their mobile devices
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Want to Market Intelligently?
Three recent events brought to the fore the concept there is marketing and there is intelligent marketing. The difference is using business information tools, not available in the past, to become more efficient and intelligent in your marketing efforts. And at no time can we recall how critical and pivotal being more efficient and intelligent is than in today’s market.
The three events were 1) the results of a test program done by California based RealAgile using direct mail to a large audience of homeowner prospects, 2) a revealing statement made by an executive of Broker Metrics at the recent REAL Trends Leadership Institute regarding targeted recruiting and 3) a program launched by Quantum Training Systems in generating prospective new sales professionals from outside the industry. In each case the process of targeting prospects, whether potential sellers for real estate sales professionals or potential new or transfer sales professionals for a brokerage was refined using business information to make the process both more intelligent and efficient.
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What Does Your Website Say About You?
If you're an agent working today, then you already know the importance of a good web presence.
What you may not know, however, is what constitutes 'good'.
If you have a website, take a look at this list to make sure you're not falling victim to technology. After all, having a megaphone is one thing; using it wisely is another.
1. I'm #1! I'm #1!
Does your website scream #1 anything? Stop it. Sure, you may be the number one agent in your market, and you may have famous clients. But your potential clients don't care. They only want to make sure that you will help them find a home or sell their existing home.
Who's the focus here anyway: your ego or the client?
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Stop Thinking Tick-Tock and Start Thinking Cha-Ching!
When I am talking to real estate agents about social media one statement comes up over and over again. “It takes too much time.” The statement is usually made by an agent who is not using social media so I probe further by asking them how much time should it take and how much time is too much? Usually this forces them to reconsider the statement before answering.
Social media can be a huge time commitment, if you make it one. For a real estate agent the key is to determine your purpose and focus your activities in the social media world. If you try to be everywhere all at once you will have some difficulty with time constraints, but if you identify the platforms that are of most interest and you are the most adept at then you will find it is a lot easier and you are far more successful.
During my presentations or classes I recommend six different sites or platforms to use and the order does actually have an impact.
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Want to Stand Out from the Crowd? Tell Your Story.
The word “storytelling” has a warm connotation. I love the craft of bringing people along on a journey. They inspire and enlighten.
Even in business? Enlightening? Really?
Sometimes it feels manipulative; sometimes it sounds like the teller is trying too much.
But from the beginning of time humans have always told stories. Now stories bombard us through a number of recent media channels. The act of telling a story has changed, the story is more important than the telling. It’s called PR.
Cathy Brooks, founder of Other Than That, head raconteur of Story Navigation and executive producter/host of Social Media Hour, presented at the WITI Women in Technology Summit on the concept of using storytelling through modern channels to build up your client base and promote your brand.
She said, "The nature of storytelling has changed. It’s not about the what, it’s about the who. Business today is personal and social media platforms are making it more like this."
We now tell people what we’re doing, when we’re doing it, where we’re connected, and who we are connected with. This is the game changing differentiater.
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3 Simple Steps to Dominate Your Marketplace
On August 31st, Jennifer Cummings, the marketing strategist behind some of the most successful real estate agents today, will reveal her secrets to dominating your marketplace and becoming the obvious choice for homeowners. In this webinar, you will jump-start your business with…
-Simple, low-cost strategies to boost your marketing to above average conversion rates
-The shocking results of consumer research: discover why homeowners choose one agent over another
-The #1 mistake most agents make in this recession economy and how to avoid it
-And much more…
Title: 3 Simple Steps to Dominate Your Marketplace and Become Every Homeowner’s First Choice
Date: Tuesday, August 31, 2010
Time: 1:00 PM - 2:00 PM PDT
Cost: Nothing
Presenter: Jennifer Cummings
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Achieve Your Best Results in Less Time
Too busy with little details to make real progress in your business? If you are feeling fatigued from constantly thinking about work, might we suggest looking into this upcoming webinar?
As an entrepreneur, the amount of time and effort you put in isn’t what’s important. What matters is your results. Strategic Coach® has developed a system that lets you focus on producing your best results while actually working less and enjoying your success more.
Join us on August 11 for a free webinar in which Strategic Coach® Program designer Shannon Waller will show you how to use your time more effectively with The Entrepreneurial Time System®, so you can:
Double your income and free time
Achieve your goals and create excitement
Gain freedom from “stuff” and messes
Increase your physical and mental energy
Find harmony between your personal and professional lives
Register now to secure your place for this webinar. It’s just an hour, but it’s an hour that will have a lasting impact on your entrepreneurial career and life.
The webinar will held at 1:30 pm EST on Wednesday, August 11, 2010. Including registration and Q/A, the webinar will be 45 minutes to an hour in duration.
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Step 6: Increase Exposure, Increase Buyer Inquiries
In an effort to empower real estate agents to convert online listings to leads, REALTOR.com published the 6-Step Online Optimization Plan. This report covers the following topics:
Intro: Get more buyer leads from your online listings
Step 1: Generate more buyer leads with photos
Step 2: Get more calls with Persuasive Property Prose
Step 3: Capture more buyers with full-motion home tour videos
Step 4: Getting online home buyers to your Open House
Step 5: Your social network is still your #1 profit center
Step 6: Increase exposure, increase buyer inquiries
Following step five of this report, step six disusses how to increase your reach and generate more buyer inquiries. If your listings aren’t being seen they aren’t being sold.
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Does Your Brand Have Mobile Integrity?
As the Rye Town Hilton in Westchester County was home to RISMedia’s 2010 Leadership Conference and “The Real Estate Social Media Summit,” the whole placed buzzed of blog-posts-in-the-making for the nearly 1,000 in attendence—as there was an overwhelming amount of information to soak up in 48 hours.
Being that it was “The Real Estate Social Media Summit,” much of the focus was on just that, however, throughout the conference, industry experts and icons such as john Featherston, president, publisher and CEO of RISMedia and Allan Dalton, president of The Top 5 in Real Estate Network® and chief marketing officer for RISMedia, also greatly emphasized the importance of Mobile Technology.
In fact, during both the opening general and closing session, Featherston championed the cause of Mobile Websites by utilizing an Android emulator to show the hundreds in the audience what a truly Mobile-Enabled Website should look and function like on a Mobile Device. During the Top 5 luncheon, which played host to dozens of top-producing real estate professionals, Dalton invited mobile expert John Lim, founder and CEO of Mobile Card Cast, to speak to honored guests. Not about product, but about importance.
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To Sell, or Not to Sell, That is the Question
Casey McCann (@CaseyMcCann) recently asked me a question on Twitter, which I want to answer here, because 140 characters and a short answer are just not enough.
“Do you think it works out in the long run to take a loss on one property to get a deal on another? Or should you just sit tight?”
The simple answer, is not so simple – it depends. Why it depends is a bit more difficult to answer, so based on Casey’s question I present a few options on how to deal with this sort of situation. The first question to consider in answering this, for anyone, is first do you have equity in the property, or the second do you need to pay to get out, or do a short sale. The answer varies, and then there are at least two scenarios it can apply to.
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Step 1: Generate More Buyer Leads with Photos
In an effort to empower real estate agents to convert online listings to leads, REALTOR.com published the 6-Step Online Optimization Plan. This report covers the following topics:
Intro: Get more buyer leads from your online listings
Step 1: Generate more buyer leads with photos
Step 2: Get more calls with Persuasive Property Prose
Step 3: Capture more buyers with full-motion home tour videos
Step 4: Getting online home buyers to your Open House
Step 5: Your social network is still your #1 profit center
Step 6: Increase exposure, increase buyer inquiries
Following the introduction to this report, step one outlines the power of photography. Once agents can harness imagery in their listings, lead conversion is easier.
Taking professional house photos that can impact the sale of a home both on the Internet and in print.
Taking great pictures of a house isn’t just worth a thousand words as the old saying goes, in this case it will impact thousands of dollars in commissions. Photos may have the greatest impact on the sale of a home. This guide will show you how to take photos that will grab the attention of consumers and/or become better at directing a professional photographer.
Key steps:
Understanding the impact photos can have on every phase of the home selling and buying process
Taking pictures that sell
Bonus tips for generating leads with photos
Continue reading to learn more about these key steps...
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The Dos and Don'ts of Email
Greetings to you all! This month, I would like to focus on email. Although social networking has become the primary way to communicate, email is still the official mode of business. Client Management is not currently a feature in social networking sites such as Facebook, Twitter or LinkedIn. Reviewing accurate client history, timelines and objectives takes consistent dedication, but should not be viewed as a chore. Realtors use web-based email, downloaded programs and smartphones to communicate by email and send attachments. Communicating with clients is not an issue for Realtors. The issue is what to do with all the documentation in your inbox. How do you store all your data effectively? Today's article covers the different types of email and the benefits of them. Joanie has written a very thought provoking article that I think is right on time about the importance of reading. Check it out.
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Auto Focus
The phone has stopped ringing… It’s been a week… 2 weeks… business is unusually slow. Do you over react?
I’ve discovered a growing phenomenon of sales professionals who seem to have “lost their way” as a result of a changing economy. At one point, vision is clear and the path to success stretches on to a predictable future. Then, for no apparent reason, when the phone stops ringing… nothing feels or appears normal. The unexpected down time disrupts the energy and brows crease in concern. Surely, there is something to blame - a cause that created this unnatural effect.
A typical response to the stress may be the impulse to “change” everything… update the web site, revise the logo, streamline services, add benefits, expand ad copy, buy better equipment, hire or fire staff… the list goes on. The sense of “losing the market” grips firmly onto the salesperson’s perspective creating an unfocused, sporadic knee jerk reaction to what might be a simple issue.
The level of self imposed panic increases in direct relationship to the percentage of income earned from commission sales. The number of phone calls symbolizes the business barometer. When it flat lines – there’s trouble on the horizon.
Well…not necessarily.
Consider how a complex camera assembly works. Professional photographers understand the image needs to be isolated and brought efficiently into focus by the maneuvering of levers and dials. A non-professional usually purchases a camera that has “auto focus” where the camera is programmed to zero in on the image and like magic; the camera adjusts and clarifies the field. Simplicity at it’s best. That’s because a set of instructions and logical processes are already programmed in the camera.
Auto focus is a concept you can apply to your business process by understanding that shifts in the market are bound to occur. Learn to adjust smoothly and effectively.
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Balancing Work and Life
Because I travel so much, I constantly find myself watching the behavior of other people. The variety of personalities always astounds me. During a recent two week stint where I spoke at five different engagements in four different states, I couldn’t help but zero in on individuals who couldn’t sit still.
Cell phone and impassioned discussions with work counterparts fill the air as the talkers stride down the airport halls. I’ve heard individuals have cell phone conversations in bathroom stalls, along the street and during their grocery shopping excursions. I swear competitions will evolve around who has the fastest draw off the belt in answering that urgent ring.
Here Are My Two Important Questions For You to Answer:
Do we really have to be that available?
What happened to “down” time?
During the fourteen day tour of bookings, other work surfaced. Now faced with handling the keynote and training sessions as well as those business items piling up at home, stress continued to mount.
How did I know I was stressed?
I woke up at 3:00 AM five nights in a row to make sure I hadn’t over slept the 6 AM wake-up call. No peaceful rest for me…there was business to attend to!
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