Episodes
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All good things must come to an end. Check out this week's episode to see how to keep in touch.
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When having a home inspection done a home does not simply pass or fail the inspection. Each item within the home receives a review of its own condition. Understanding this is important when it comes to properly explaining the process. Having your clients understand the process is one key element of keeping the deal together.
Based on the contingencies in the offer the home inspection contingency can have different means. Most common is the home inspection results must be to the buyer’s satisfaction. There is also times clients will make their inspection subject to fixed costs for repairs. This means they will only negotiate or walk away if the issue is more expensive than their contingency allows. Based on the contingency they chose to use you then have that power to negotiate.
After the bad home inspection it is time to talk about what your buyer wants to do. You can review with them whether it is best to walk away, negotiate money, or negotiate repairs. If the repairs are to be done who is to make the choices. All these things and so much more must be worked out when negotiating a home inspection. Tune in today to learn more.
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Episodes manquant?
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In today's episode I talk about how the NAR settlement was by far one of the largest shake ups in the industry in a long time. The last shakeup this big was coincidentally enough the introduction of buyer agency. This is an important step in understanding how we deal with this moving forward.
I also review how one of the biggest changes I have seen since the settlement would be the amount of discussions around commissions. It has agents, brokers, attorneys, mortgage brokers, buyers, sellers, banks, and even the government talking about commission. I think this helps the settlement reach its goal of more commission awareness. I know for most agents it was a time to learn how to talk about commissions inside out to make sure to be ready to speak with clients.
Overall I talk about my experiences when booking showings. So far I have not run into one solid NO on commissions with each agent answering differently. Some listings have offered seller direct commission, some have offered cooperating compensation, and some have simply said I suggest you put it in the contract and we can see what the seller says. It will be interesting to see how this all plays out.
Tune in today and learn how to deal with the changes.
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In this week's episode we go over how being a yes man is a dangerous game in sales. This tactic can lead to you becoming a slimy salesperson who doesn't always keep their promises. Sometimes the answer is simply no. Learn to speak the truth and learn why it works.
Learning to set realistic expectations is another important skill to learn as a real estate agent. Setting false expectations on timelines or costs can really come back to haunt you when the timelines or costs change as time goes on. This means you can succeed with less force and more flow. Imagine clients looking to work with you?
When trying to help a client land a home they love in a multiple offer situation after struggling to find “the one” it is important to give them a reality check. Share with them numbers that would work to get the job done and land the home, remind them the timelines if they miss this home. This same rule applies to taking a listing and pricing it. Tune in today and land more deals right away.
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Real estate is by far one of the most complex jobs you will ever get into. You need to know everything from marketing to contract. You must understand homes and understand people. The key is to get started and keep learning.
When starting out you may not have the sales achievements you wish you had. Site milestones and accomplishments off of your brokerage and other agents at your brokerage to get started. It is ok to boast off what your team has done because you are going to follow the same recipes for success. Look to show them what their future will look like.
Starting off it is easy to want all the business. There are billions of people in the world and they all need housing. Learn to identify a niche market so that your message can be heard. Yelling at people who do not care does not work. Whispering to those who care will gain attention.
At first I used to see my client as more of the boss. They had the money and needs. I went and served them. Then I learned that you are a mentor and a guide to your clients. Use the education and knowledge you have to help them with an informed decision. Lead with confidence. This will lead to much more success. Tune in today and check out the entire episode.
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Now that we are post the NAR settlement it means agents need to talk about compensation more. From talking with buyers to asking listing agents about it, commission is a big discussion. Whether we like it or not the settlement made this conversation the front of every interaction. Really, it has been a great thing
When talking with buyers it is crucial to be open and clear at the same time as keeping it simple to understand. Trying to show off your knowledge can be a little confusing for the client to retain. Make sure to guide your clients towards patterns of success.
For agents it is important to talk with the list broker and find out what commission if any is being offered and how it is being paid. Remember how it is being paid will change what paperwork and contingencies are needed for your offer. These conversations should be enriching and help one another guide our clients.
Conversations with sellers now have a few extra variables as well. Tune in and learn what to say. Is it always necessary to have compensation? This is many other things are reviewed this week.
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If you asked most agents why they got into real estate there tends to be one answer that is most common. They got into real estate because of the limitless earning potential and pay that reflects efforts, knowledge, networking, and some luck, not just an hourly wage. Knowing this it is easy to understand that agents are often money driven.
Once a real estate agent gets past the honeymoon stage of becoming an agent they start to notice the work needed to succeed. It is then that they realize the limitless earning potential means you must have a relentless drive. That is why I made this episode to help agents find that inner fire. I want them to know that it is all about the clients and the Benjamins come as a biproduct.
We must remember our clients feeling on our pay. Oftentimes clients are confused by commissions and how it is earned because they reflect back to their job where they produce an hourly wage. It is our job to show them examples and make them an example of how we get them more money, reduce stress, and successfully move their entire lives all while being a great mentor and guide. Make sure to take the time to learn to explain this to them in detail. Tune in today.
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When it comes to real estate there are a million ways to build a business. This week we focus on the one thing every agent needs to be doing. Real estate agents need to be constantly communicating with the sphere of influence in order to build a healthy business. This means every real estate agent needs to have a clear, concise, and organized contact list.
It is easy to meet new leads. It is easy to think your friends and family will use you. But the real question is will they? With so many contacts coming and going in real estate it is important to have a place to properly organize and store them. Most agents use a CRM software to help them make this task easy and efficient.
Choosing not to organize and obsess over your contacts is a setup for failure. Chasing each and every lead that comes in only to drop them when after closing is not going to build a referral based business. The more you work to be a great communicator and keep in touch with your contacts the more you will see the positive effects. Listen today and put the tips to action.
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This week I am kicking it old school and talking about personal brands. When thinking about getting into the real estate business it is easy to be confused that by joining A big brand you will win. The truth is each agent at a brokerage really needs to create their own personal brand. How would you define your brand?
Tune in to learn more about making career forward choices. Choosing a brand that represents your personal brand goals is the best choice when picking a brokerage. If you like being an individual, personal touch, and attention to detail then a boutique brokerage is best for you. Understanding your end goal helps you understand what you need to do to get there.
Remember with all the hype about online that the real world exists. Personal branding is more than just what you display on a well curated social page. A personal brand is who, what, and how people think when they see you. Make sure the real you and your personal brand match so it is a natural transition from friend to client.
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With all the new focus on the NAR settlement I think a lot of agents are forgetting what to say on a first showing. In this episode I make it clear the things you need to start saying to create lasting relationships. Rushing right into the professional hat versus the trusted advisor and mentor spot could get you in trouble.
While out your first showing it is important to get to know the person. Using F.O.R.D (Family, Occupation, Recreation, and Dreams) is a good way to learn about someone and build a relationship. These things are great for opening people up. Remember while it is the rules that we get the contract signed no one has told us how to get there. Building relationships gets the contract signed.
When meeting new people it is important to remember that the goal and the way the process will work is set by the client. Learn to rise to their expectations and follow their boundaries. Many agents confuse who is buying the house. They give their own opinions. They change the clients thoughts. They do not ask and then let the client decide their own needs.
Acting normal may seem like a clear solution to meeting with new people but for some people it is not. Strangely enough people tend to change who they normally are when meeting new people which can give off an uneasy vibe. By acting as a friend and normal the client will be more open to helping you understand their goals.
With all this new contract stuff let's stay focused. The name of the game is to become known, liked, and trusted. With the NAR settlement it now made us need to accomplish this faster than ever. Follow these guidelines to get there.
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Now that we are past the settlement lots of agents wonder who is going to pay them. There are three different ways a buyer's agent can get paid. The buyer, seller, or cobroker pays a portion or all of the commission. It is important to understand before moving forward how it is going to work.
In this week's episode we cover all the ins and outs of navigating your commissions. Some brokerages have decided to shy away from cooperating compensation. Others have gone with the paperwork and guidance of NAR and have continued to offer cooperating compensation. It truly is a confusing subject.
When it comes to the buyer paying commissions it is important to speak with the lender. Understanding the financial side and what the buyer is capable of paying is crucial to a smooth closing after a successful relationship. Failure to do this can and will lead to big issues. Tune in today and learn more.
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In this week's episode we talk all about getting paid in real estate. With The NAR Settlement now in place many buyer's agents are still confused on how they get paid. Each transaction is going to need to be looked at to figure out if there will be a seller's commission directly, cooperating compensation, or the buyer paying directly. That means now more than ever we need to understand the process.
Understand the dos and don'ts makes all the difference. With the buyer paying directly, many agents have asked if it can be wrapped into the loan using the seller's concession. The answer is no, but seller's concession can be used to pay other closing costs and prepaids clearing up cash flow to pay commissions. Speaking with a lender is always a great idea.
As a standard it is always important to work under contract. Before ever showing homes it is important that your client understands the commissions and any amount they could be subject to paying. Negotiating the commissions via the contract to purchase will more than likely be the way the commission is handled most times. Learn to do all this and you are going to be successful as a buyer's agent from here forward.
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With the NAR Settlement changes about to roll out a lot of real estate agents are wondering what next? It has some even wondering if buyer's agents will even exist moving forward. In today's episode we explore this whole idea. I give you my insight on the changes and challenges ahead.
I talk about how a savvy buyer is going to understand that a real estate transaction is the most expensive and complex transaction in their life. They will continue to make the educated decision to engage a buyer's agent to protect their interests. I compare this to what has happened over time. It is really interesting to watches these changes ahead.
The idea of a seller offering a reward for someone to bring a buyer has gone on in sales for as long as man has existed. Even after this settlement it will still be adventitious for sellers to continue to offer a reward to a buyer's agent who brings a ready, willing, and able buyer. Selling something for hundreds of thousands if not millions is not easy. This is not something that will easily change. As long as it does not become illegal I think the practice off incentivizing the sale will always favor the seller.
Tune in today and share your thoughts in our Facebook Group.
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In this week's episode we talk about how in real estate we rely on our body. It is our number one tool we need to work every day. Spending so much time in your car can lead to tightness and loss of mobility. As a real estate professional it is important to take time to strengthen and stretch your body.
There are lots of risks to our job. Meeting new people all the time means you will be exposed to more germs and the possibility of getting sick. Keeping your body healthy helps you avoid down time in your business and keeps you earning commissions. Sticking to this mindset will make sure you are ready to show up everyday.
Being aware of all this helps you make better decisions. Make sure to take time out of each day to focus on your mind and body. Yoga, Pilates, barre, CrossFit, weight lifting, running, meditation, etc. are all great ways to keep your mind and body ready for real estate. Keeping your body ready keeps you ready to win. Tune in today and find out more.
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This week I wanted to focus on getting into real estate as an agent with the NAR settlement going on. With the NAR settlement about to come into effect people are wondering “Is now a bad time to get into real estate?”. The truth is coming into the industry now you will have known no different and can learn to operate in this new environment. This will give a level playing field for everyone and may even prove more challenging for existing agents to learn to pivot their business model.
While no one knows what exactly will happen post settlement there is one thing we know. When spending hundreds or thousands if not millions of dollars people will still want a professional's guidance and help navigating their way SAFELY through the transaction. Find the right people who value your services and look to continue to find ways to add value for them. This will ensure you have a sound business moving forward.
Over the past decade real estate has sorted its way to having a buyers agent and a sellers agent. I believe this may change, the roles may change, the pay may change, and much more but the industry will still exist and be a great career choice. Learn to thrive in this open playing field. This is a brand new opportunity to grab large market share while others are figuring out what to do.
Tune in this week and learn more.
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In this week's episode we go over everything to do with USPs from what they are to how to form one. It is an in depth dive into a topic that can immediately have an effect on your business. Tune in today and find out what you can do to get your message out.
In a world where everyone knows a real estate agent how do you stand out? Take some time to create your USP and then spread the word. People work with agents they know, like, and trust. Figure out ways to convey the message of trust through your USP.
A unique sales proposition tells a potential consumer how you are different from your competitors. It must be a key component in your marketing and sales scripts. Remember every real estate agent says the same thing. They all say they sell the home fast. They all talk about their availability. Agents brag about their communication skills. At the end of the day tell people how you are different and how it helps them reach their goals.
Creating a USP may seem daunting to create but slow down and think. What is it that you do exceptionally and differently than everyone else that adds value to your client experience? Take time to read your reviews and understand what people like. Then take what you want people to feel when working with you. Do they match? If not there is work to be done.
Get your USP in line today!
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In this week's episode we prepare you to meet with clients. It is not just about the first meeting it is all about getting into a contract. Short of a payday signing contract is the best day in real estate.
To find success in real estate you must learn to present contracts to clients in a manner that instills trust and clearly shows value. Make sure when presenting to be clear and confident in your delivery. Failure to do so will lead to less contracts being signed. In a game where it is so hard to get a lead, do not mess up after finding one.
Words and body language mean everything when it comes to getting the contract signed. Weakness can be expressed through the eyes, words, and actions of a Realtor® . Remember that people like to work with people they know, like and trust. Get to know your client, relate with your client, and work to build rapport with your client. This is a time where time investment goes a long way.
Find someone you trust who will role play the contract review with you. It is better to stumble and change things when reviewing with a friend than it is on the big day when getting the contract signed matters. This little bit of practice can go a long way. If you are nervous to do this, that is ok and normal. Practice till you are no longer feeling nervous or silly explaining it.
Putting these simple actions into place will solidify your success as a real estate agent.
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In this week's episode we cover three fundamentals that all agents need to have. No matter the market no matter the agent there are three simple musts that can grow your business. We focus on all three in depth letting you know how to implement them.
The first important item is understanding the job. After obtaining your license you have now learned how to pass a test. It is now time to learn and understand the contracts so you can effectively present them to potential client's. When it comes to spending 100's of thousands if not millions people want o feel confident in your contract writing.
Next thing we focus on is you! Your mom may have told you that you are special. I am here to say you are not. Do not assume because you got licensed people will call. You need to put in the initiative to consistently remind your sphere and add value. Nothing in life comes easy. Especially home buyers and home sellers. In order to land listings and buyers you need to put yourself out there.
Lastly we go over the client relationship. Communication is not a skill, it is a way of life. Good communication Is the key to successful long term relationships in real estate. People need to know what is going on when they are working with you. Do not leave it to them to need to reach out to you. Constant communication is a way to every clients heart.
If you put these three items to practice you will see immediate results in your real estate business.
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As a real estate agent we need to be marketing experts. Without leads we have no business. We could be the best negotiator in the world but in front of no prospects would not find success. Understanding marketing comes down to some simple things we cover in this week's episode.
Knowing who you are targeting is the first step to running a great marketing campaign. This will allow you to figure out the best placement to land in front of the right people. There are so many channels out there that failing to know which one leads to a huge waste of money.
Understand what they are trying to obtain. Is it an accepted offer, is it to sell for the most money, is it a fast sale. Understanding and conveying it in your marketing will directly speak to the client. Not identifying with the client's needs is a failure to connect.
Figure out ways to convey the “Why” they will obtain by working with you. Solves issues like “receive an accepted offer by working with an agent who understands how to win a bidding war just like my clients you see here”. Once you can understand this you can then truly help. Anything short of that is just hoping to get it right.
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Have you taken time to really understand yourself? This podcast episode I go over how important looking at yourself really is to finding success. I spend some time talking about my own journey and my own issues. It is amazing how in such a big world with billions of people we can feel so alone in our own issues.
Finding success no longer needs to be a challenge. Learn to follow the simple instructions I give when it comes to controlling your thoughts. It is never easy to control our minds but when we really stop and think about it we can achieve great things.
Real estate is a game of trial and error. Do not allow yourself to be paralyzed by the ups and downs. Tune in this week and start finding more success in life.
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