Many agents make the mistake of bringing buyers on a property before they have any discussions beforehand, which makes the whole process chaotic. How can you convince your prospects to sit down and have a talk with you about what their dream home looks like? How can you make them understand the paperwork? Most importantly, how can you convince them that you have the systems and the experience that will save them from unpleasant situations? On this episode, Karri Flatla speaks about how she makes prospects come to her before seeing a property.
People want to be led. If they didn’t want your leadership, they would go and do things on their own. -Karri Flatla
Three Things We Learned
Use gentle, pre-qualifying questions
Pitch your questions as a benefit to them, to find out more about their needs and desires. If you use the right tone and come off as genuinely interested, you’ll find out about what kind of properties they want to see and how serious they are about it. This tactic applies to both buyers and sellers.
Send materials along with a discussion agenda
If you want to save time and make sure your prospects know what’s coming, you need to warm them up with informational material. Send them a presentation with how they can make their best from buying/selling a property, along with a short discussion agenda. Always call them to confirm if they can come to see you at the office. Sometimes they can’t show up, and waiting for them will only waste your time.
Use a buyer guide to address concerns
The hardest part about making them sign the papers is explaining what the contract involves and what will happen after they sign it. This is your opportunity to show your prospects how well-prepared you are. Craft a buyer guide that touches all kinds of concerns and use it as a tool to address their fears. Depending on their personality type, all of your prospects have something that keeps them up at night. Make sure your buyer guide covers everything.
It’s that systematic fallback or process that makes all the difference and gives them the blanket even if they find something that they don’t quite have the answer to. -Matt Johnson
They are comforted by the fact that you have a proven and tested system put in place.You have to sell it a little bit, but you have to be confident. -Karri Flatla
Meeting with your prospects in an office is all about atmosphere control. You want to look professional and prepared for the unexpected. For most people, buying a home is the biggest purchase of a lifetime, and you can’t really look professional or have a proper conversation during an open house. Conversations in open houses can often make you look unreliable, especially if the property owners are still living there and have kids or pets making noise.
Karri Flatla is an associate broker, a home strategist, and a team leader at RE/MAX Real Estate in Alberta, Canada. You can find Karri athttp://karriflatla.com/
Your time is your most important resource. But how is your time different when you make the switch from being a 9-5 employee to being a business owner? Can your emotional resilience, or lack thereof, make you lose weeks or even months on over analyzing your defeats? Is owning a real estate business a sprint or a marathon? On this episode, we share our experience with time management.
Emotional resilience is one of the key traits to become a successful person in general, but definitely being a business. -Matt Johnson
Three Things We Learned
When planning take into the equation your energy not only time
Often times, we see ourselves using our time doing what we want, not what needs to be done. But not only do we put excitement over responsibility, we also take the employee mindset with us. For a business owner, it’s harder to sit 8-10 hours working every day compared to an employee who doesn’t have the pressure of maintaining the business. Business owners not only sit down and get the work done but they also do most of the problem-solving. This usually impacts their energy levels, because you can only have so much mental energy.
Stay emotionally resilient
When you make a mistake as an employee, it’s easier to deal with it. The project is not yours. You just happen to be the one who works on it. But as a business owner, the blows hit closer to home. Don’t set goals that you’re emotionally attached to, as this will only lead to self-sabotage.
Take the hit, but don’t let it govern you. Emotional resilience is what makes business owners perseverant and happy with themselves and the success of others.
It’s a marathon, not a sprint
Prioritizing is more important than throwing all the balls in the game, simply because there are tasks that should be done urgently and goals that you don’t have the resources to reach right away. While you may be tempted to do everything faster, the one factor that usually pushes things the most is the focus—and focus is a finite resource. And since it’s so finite, there’s only so much so many sprints you can take in a business before you collapse.
A lot of us put fun and excitement above what we need to be doing. – Greg McDaniel
There is less time in a day than your mind thinks it is, and what is even more important than how much time there is, is how much energy. – Matt Johnson
Don’t mistake being competitive for discounting yourself. Lowering your commissions a little bit in the beginning is fine. But when your entire selling point gravitates around a low price point and not around providing value, you cause harm to both your wallet and clients. You can only do so much for you and your clients if you’re working on a very limited budget, which will make you, and the seller, go home with less money.
Referrals are one the best ways to get a steady stream of income without making a large investment. But how can you get people to talk about you? How can you build a referral machine both online and offline? And how should you keep in touch with your database? On this episode, we answer these questions with Elite Real Systems leader, Jeff Cohn.
If you have a 5-year goal and you do every single thing you believe you need to do to reach that 5-year goal, you will probably get there in 2-3 years. -Jeff Cohn
Three Things We Learned
Create unique content
One of the best ways to make people talk about you is to create unique content for each neighborhood you’re in charge of. Make videos of the neighborhoods. Take as many photos as possible, and bring information to the table that can’t be found in the listing.
Build your own Google
Instead of constantly searching for new people, use Excel or a CRM to create your own database. Make sure you tell everyone you meet how you can help them, and get their contact info. Send your database occasional emails and text messages on the value of their property, as well as how many properties are being sold nearby and if there are any bargains on the market.
Cold calls still matter
No matter how intense your branding efforts are, cold calls still matter. You should make at least 20 phone calls per day and spend at least 20 hours on the phone per week in order to get results. But make sure you always bring something of value when you give a call. It could be an update of what’s happening on the real estate market, the fact that you have buyers in a certain areas, etc.
McDonalds never apologized to Burger King for having ten times as many restaurant locations. -Jeff Cohn
I wanna stop teaching real estate and build a business that can grow without them being necessary. -Jeff Cohn
The secret to expanding your referral machine is to add more people to your team. Share everything you know with them, and after they become experts at what they do, provide them with resources, technology, and incentives they can’t find anyone else. If you choose to do everything by yourself, you will soon find yourself limited. But if you create a system, your business can expand indefinitely,
Follow-up is one of the most time-consuming tasks. Often, agents pour too much energy into the wrong leads. How can you weed out the curious from those with a solid buyer intent? Is there a way to make door knocking a pleasurable experience for property owners? How can you keep in touch with potential buyers in your database? On this Q&A, we answer your questions on following up the right way.
The next thing to watch out for is narrowing that funnel and making people jump through some hoops before they get an agent. -Matt Johnson
Three Things We Learned
Use coupons when going door knocking
Don’t just be the agent who goes door knocking. Make them look forward to seeing you. Bring them information about the neighborhood, your success stories, and the state of the local market.
You can also bring coupons for dinner or lunch, or whatever will make you stand out and show them that you’re interested in their well-being first instead of just getting a listing.
The orphan program
The orphan program consists of buyers that agents forget about. These could be buyers who say they will come with a follow-up but never do. Make the first step and show them you’re still available. Send them a anniversary card or give them a phone call instead of expecting them to remember you.
Automated follow-up weeds out the curious from leads
Following up on a constant basis and keeping track of all your leads can be quite daunting at times. Instead of doing everything manually, set up a system like Agent Legend that helps you record your voicemail and sent out messages and emails. This process will weed out those who are just interested in finding out more info from those who are actually interested in selling or buying property.
Buy the neighborhood data, do the calls, go in and call just listed, just sold, just pendings, or new listings. -Greg McDaniel
Rather than going out and doing hardcore cold calls and door knocking quite yet, I would only do that if you have a zero database. –Matt Johnson
Many agents spend way too much time on the phone with people who express interest but don’t have a buying intent. To avoid this, create a system that weeds out the curious from the solid leads before you jump on a call with them. Automated follow-ups, funnels, and chatbots are all useful when it comes to lead selection.
Having a network to tap into for leads is one of the biggest sources of income for realtors. But how do you reach key people? How can you leverage social media to build your brand? How long does it take? On this episode, Sarah Johnston shares how she used Instagram to get the connections she needed to increase her sales.
If I look right now, 50% of my sales are from people I either know or referred to me on Instagram. –Sarah Johnston
Three Things We Learned
Branding opens doors
Realtors are often limited by the connections they have and the local market. When you’re just starting out, it’s hard to present yourself as a trustworthy persona. This is exactly what branding does. It puts you in front of people. Instead of handing your prospects your business card, social media allows you to give them some far more important. They receive little bits about your life and work ethic that they otherwise wouldn’t know about. These types of interactions are far more memorable than anything else, and often times they’re client sources.
In the real estate industry,vanity metrics don’t count. The interactions do. Don’t follow people for the sake of creating an impressing friend list. Instead, search for people who might need your help and start interacting with them. Social media marketing done this way requires some time to take off. But when it does, the people in your list become the hidden helpers behind your business.
Don’t leave anything to chance
Motivation is wonderful but fleeting. Instead of trying to keep yourself motivated, make a schedule that involves discipline. There will always be uncomfortable tasks that need to be done. There’s no way around that. After a while, you will be on autopilot and won’t need to search for motivation to get things done.
They are more likely to work with you by 14% if that philanthropic action lines up with their beliefs. -Greg McDaniel
Things change too quickly. You have to build that muscle of always learning, always implementing. -Matt Johnson
Philanthropy is one of the best ways to get in line with your audience’s beliefs. Volunteering and giving back to your community say a lot about your character and who you are as a person. Not everyone will agree with your actions. But those who do will respect you even more simply because you stand for what they stand for.
Sarah Johnston is the director of Calgary Real Estate Board, speaker, and a realtor at MaxWell Realty Canada for over 10 years. She shares her experiences and stories online on her website athttp://www.maxwellrealty.ca/agents/sarah-johnston/ and on her Instagram at @adventuresinrealestateyyc