Club Wealth TV

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How to Leverage & Benefit from the Rise of iBuyer Programs w/Long Doan

Anytime a new model disrupts the real estate industry, agents and business owners feel threatened. The latest model to do this is iBuyers. How does the model work, and how is it solving the pain points of home sellers? Are there any opportunities for real estate agents within this model? What is the long-term strategy of models like iBuyer? On this episode, we are joined by Long Doan to talk about why we shouldn’t feel threatened by the iBuyer business model.

 

 

You are the CEO of your own company, and there are only 3 activities you should be doing. Innovation, quantification and orchestration. -Long Doan

 

Resources: 

- Join the Club Wealth Real Estate Agent Mastermind Facebook Group

- Get info on the Listing Agent Boot Camp, April 24th - 27th in San Antonio, TX 

 

Three Things We Learned From This Episode

  • How the iBuyer model actually works
    The iBuyer concept has actually been around forever. It’s just real estate investors going in to offer cash to buy a home but using more technology to do it. An iBuyer is a real estate investor that uses a proprietary model to come up with a value so they can make a cash offer within minutes to buy the home and close quickly.

  • The pain points iBuyers are solving
    iBuyer programs are succeeding because they are solving the pain points of sellers. One of the biggest of these is that some real estate agents just aren’t good, and the iBuyers allow sellers to skip the process of working with an agent. The other pain points are the various hassles and stressors that sellers deal with during the transaction.

  • What business owners should be focusing on
    There are three things every business owner should be doing. Innovation is learning everything you need to know to grow your business and implementing it. Quantification is tracking and documenting everything. The third thing is orchestration, which is putting people, systems and processes in place to run our businesses well.  

 

As the market shifts and changes, we’re going to see a lot more iBuyer programs. As business leaders we can either feel threatened into inaction, or we can try to find the opportunities. The truth is, iBuyers still need to work with agents in many ways, and that means we can partner up with them to our benefit. If we’re really good at providing value, we’ll always come out on top.

 

Guest Bio

Long Doan is a real estate coach and broker/CEO of the Long Doan team at RG Realty Group.

He has been in the real estate industry for 25 years. As the top 1% Agent in Minnesota and in the country, he has a proven track record. His company is one of the fastest growing real estate brokerages in Minnesota, providing a full-service real estate brokerage where they handle all types of real estate transactions, ranging from Traditional to Luxury, Short Sales to Bank Owned, Investments to Non-Performing Notes acquisition, Property Management to Rentals, and Commercial to Businesses. Go to https://longdoan.realtygroupmn.com for more information.

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How to Become a Master of Scripts & Dialogue w/Alexis Bolin

Many agents are terrified of fumbling over a script and ruining their interaction with a prospect. What is a key mindset shift we should have about scripts and how we use them? What are some of the things that go wrong with scripts, and how do we break tension and awkwardness? On this episode, we are joined by real estate legend and queen of scripts, negotiation and dialogue, Alexis Bolin, to talk about sharpening our communication skills.

 

Scripts and dialogue are nothing more than asking the right questions. -Alexis Bolin

 

Resources: 

- Join the Club Wealth Real Estate Agent Mastermind Facebook Group

- Get info on the Business Strategy Mastermind Conference November 12th-15th 2018 in Anaheim, CA

 

Three Things We Learned From This Episode

  • Why we should not try to be our agents’ friend
    When it comes to our teams and agents, we need to stop trying to be their friend. When we do that, we’re not doing them any favors because it leads them to shake off the responsibility they have for their own success. We give them the tools, support and systems and the rest is on them.

  • How to rethink scripts
    We call them scripts and dialogues, but they are nothing more than answering questions and providing information. If we learn to gather information properly by asking the questions, we can provide what the prospect is looking for..

  • How to have tough discussions with clients
    Not everything we’re going to say to our clients is going to be something they want to hear. Sometimes they’ll have to hear some hard truths. To do this without negatively impacting the relationship, ask for permission to deliver a message to prepare them for it.

Scripts are everywhere in our lives, whether it’s learning the alphabet, counting, or song lyrics. We shouldn’t look at scripts like as an impossible obstacle to overcome. It’s all about communicating, being empathetic, and being genuine. If we genuinely care, this will shine through every single word we say. Excelling at scripts comes down to knowing when to talk and when to listen.

 

Guest Bio

Originally from the Jersey shore, born in Long Branch, NJ, Alexis graduated Red Bank High School, and worked 18 years as a waitress. Fourteen of those years, were worked at the Officer’s Club at Fort Monmouth, NJ and another four years at Fort Gordon, GA prior to moving to the Gulf Breeze in the Pensacola area in November of 1977. During most of that time period Alexis was a single mother working three waitress jobs to support her children with no child support or alimony. Alexis obtained her Real Estate license in May 1978 and her Florida Broker’s license in 1980. She started as a new agent in 1978 and worked 39 years the same Real Estate Franchise prior to joining Keller Williams Realty Gulf Coast in July 2017.

Her accolades include, being Number 1 Agent Nationwide for ERA Real Estate 3 times, ranking among the Top of All Agents Nationwide, being one of 100 Most Influential Agents in Florida, one of the Most Awarded Agents in the Nation, International Real Estate Hall of Fame 2013 and Real Estate Experts Hall of Fame 2013. Go to http://www.alexissellshomes.com/default or https://www.linkedin.com/in/alexis-bolin-b1145310/ for more information.

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Recruiting: How to Find, Hire & Train the Best Talent for Our Teams w/Jay Niblick

Recruiting is constantly on the minds of leaders looking for the best way to bring on talent. Why is it so important to have filters in our hiring process? What does a candidate’s resume really tell you, and how should their personality factor in? Should we only be looking for licensed agents? On this episode, Wizehire CEO Jay Niblick shares insights on their process and how they help team leaders get the best people to come onboard.

 

When you’re hiring, take your sales hat off and put on your home seller hat. -Jay Niblick

 

Resources: 

- Join the Club Wealth Real Estate Agent Mastermind Facebook Group

- Get info on the Business Strategy Mastermind Conference November 12th-15th 2018 in Anaheim, CA

 

Three Things We Learned From This Episode

  • How to know you need to bring someone on
    The key metric that determines whether we should be hiring someone to help us is when we get to a point where we can’t handle the business because we’re doing other things like admin. When our bandwidth is maxed out even with an assistant, that’s when you need to bring on a buyer’s agent or two.

  • Hiring on the resume vs. hiring on personality
    Don’t base your hiring decision too much on the resume. Remember: it’s a document written by a salesperson, and they will sell themselves as well as they possibly can. Even if they have references, it’s not like they will put the boss that last fired them. Put the weight of the decision on their personality and the interview.

  • Why unlicensed agents can also be great hires
    A lot of us shy away from agents who are newer to the industry, or aren’t licensed yet. However, we have to question why the more experienced agent isn’t managing to get to the next level, and whether we might have to train out some bad habits. With new agents, we can start them off as ISAs for 90 days, train them, and see if they can grow. That’s a great filter for getting really good talent and then making sure they fit the culture.

 

When we’re faced with a wide pool of talent, it can be difficult to bring it down to the valuable few that will really boost our businesses. DISC profiles help us determine the kind of people they are and what we can expect, but personality and character matter, too. Are they willing to do a DISC assessment, show up to calls on time, and reply to emails? Those things are all very telling. When we hire, we should think like a home seller who has something of value to award to the right person. When that right person comes along, they are given the opportunity of working with us.

 

Guest Bio

Jay Niblick is the founder of Wize Hire, a real estate recruiting software with a data-driven approach to the hiring process. He matches companies with the perfect candidate based on behaviour, communication style, and values. For more information, go to. https://wizehire.com/.

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How Tim Ray Went From Closing 78 Units to Over 450 per Year in Just Two Years

Growth is what all agents and team leaders dream about, but how can we make the progression easier? In what circumstances are partnerships desirable? How many times should we contact a lead? And why shouldn’t we aim to be a jack-of-all-trades? In this episode, Tim Ray shares his journey from closing 78 units per year to over 450 in only a short time.

 

Stop thinking about doing the work, and do the work. -Tim Ray

 

Resources: 

- Join the Club Wealth Real Estate Agent Mastermind Facebook Group

- Get info on the Business Strategy Mastermind Conference November 12th-15th 2018 in Anaheim, CA

 

Three Things We Learned From This Episode

  1. How to make partnerships work

Partnerships can become tricky if only one person carries the heavy load when the split is even. To make partnerships work, we have to either alter the split or recognize that the bulk of the work should be shared between partners.

 

  1. How many times we should contact a lead

With prospecting, we shouldn’t stop until we’re told by someone that we shouldn’t contact them again or that they’re ready to buy or sell.

 

  1. What to do with repetitive, time consuming-tasks

If we have to follow through with the exact same action twice, there’s a high chance that the task can be automated or at least done in a time-saving manner. When we have the right systems in place, the time spent on busy work is diminished.

 

As business owners, we may feel pressured to wear many hats, especially in the beginning when we can’t afford to outsource. As our business grows, it’s important to recognize what we’re good at and spend our time on activities that make use of our talents. There’s always something new to learn, especially since technology is changing at a rapid pace. However, we don’t have to learn everything, so it's wise to hire other people who can specialize in other roles.

Guest Bio

Tim Ray is the CEO of Home Smart Legacy and the team leader at Tim Ray Real Estate Team. Tim has over 20 years of experience in the real estate industry and is a tier 2 coach at Club Wealth. You can find out more about him here.

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How to Increase Your Conversion Rates with Internet Leads w/David Tal

Internet leads can be difficult to follow-up with and convert. Most of them never pick up the phone, and those who do aren’t interested in buying right away. How can we increase our chances of getting our phone calls answered? What’s the incubation period for internet leads, and how can we gain trust in the meantime? What can encourage sellers and buyers to let their guard down? In this episode, David Tal talks about lead follow-up and how we can build trust with internet leads using ISA’s.

 

People tend to lower their guard when they don’t speak to the agent immediately because there is a sense people have that they are going to be sold right away.
-David Tal

 

Resources: 

- Join the Club Wealth Real Estate Agent Mastermind Facebook Group

- Get info on the Business Strategy Mastermind Conference November 12th-15th 2018 in Anaheim, CA

 

Three Things We Learned From This Episode

  • Don’t try to sell right away
    Most people have their guard up when they interact with agents because they expect to be sold to right away. With ISA’s, their guards are lower because they aren’t expecting the same. The ISA’s initiate the conversation, welcome leads, and give value instead of trying to go for the listing from the first conversation.

  • Internet leads are "potential leads"—not leads
    We can’t approach internet leads the same way we approach people who walk into our office, because internet leads aren’t as motivated to buy right now. As a result, we have to interact more with internet leads to close a sale. When scaling a business, we have to remember that unless we outsource some of our sales calls, we might end up working all the time— especially since most leads come in during the weekends.

  • Provide continuous value
    Agents need to provide value to potential clients in order to foster trust. Most people aren’t ready to buy right away, so instead of trying to convince them to buy now, give them a list of open houses they can look at on their own. This sort of value builds a connection that lasts longer.


Most people dislike receiving phone calls from numbers that they don’t recognize. To ensure our calls are picked up, we should initiate the conversation with our internet leads via text. This way, we let them know who we are and see whether they want to continue the conversation via text or phone call. If leads fail to respond, using the double dial method usually stirs their curiosity enough to make them pick up the phone.

 

Guest Bio

David Tal is the CEO and co-founder of Agentology.com where he helps agents and real estate teams put their lead generation on autopilot. His team of ISA’s follow up with real estate leads 24/7.

You can find out more about how Agentology works and what results you can expect here.

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Chris Heller on Steps for Success and How He Built His Own Business from Scratch

Success is not about unique talent and luck, but about consistent hard work and planning. What’s the first step we should take towards focusing on higher-value activities? Why is emotional resilience so important in real estate? And what’s the one competitive edge we have over companies with large funds? In this episode, one of the most successful real estate executives, Chris Heller, shares his real estate journey and advice for aspiring agents.

 

The reasons people buy or sell homes are often grounded in emotions. -Chris Heller

 

Resources: 

- Join the Club Wealth Real Estate Agent Mastermind Facebook Group

- Get info on the Business Strategy Mastermind Conference November 12th-15th 2018 in Anaheim, CA

 

Three Things We Learned From This Episode

  • Don’t be a jack-of-all-trades
    Negotiations, listing presentations, and even lead generation can be outsourced. We can’t wear all of the hats in our business without ending up exhausted. Plus, there may be others who are better than us at certain aspects of the business. Why not outsource the low-value tasks or tasks we don’t enjoy doing?

  • Learn how to deal with failure
    Emotional resilience is crucial in real estate. No matter what level we’re at or how skilled we are, there will always be days when we’ll encounter someone rude or discouraging. Because it’s a people-based business, dealing with an uncomfortable situation is a common occurrence. If we want to succeed and stay in the game, we have to learn to become emotionally resilient.

  • Our bank account is our financial compass
    Our biggest term of comparison should be where we used to be and where we are today. Our bank account shouldn’t be a way for us to measure our worth, but rather an indicator of where we are and how much we have to work to get where we want to be.

Our clients expect more from us today than they did two decades ago. Because of how technology has made everything faster and easier, the same experience is expected from real estate.This is the only competitive advantage we can work on when competing against companies who can afford to buy a listing when it doesn’t get sold. “Customer experience” is the card we should all play if we want to stay in business in this market. In any big transaction, having a human to talk to is more important than any other elements of a customer service experience.

 

Guest Bio

Chris Heller is a nationally-recognized real estate executive, boasting one of the most successful production track records spanning three decades. As the former CEO of Keller Williams Realty, Heller expanded the business into more than 20 international markets and helped build the world’s largest team of real estate agents.

As the chief executive officer of Mello Home, Heller leads the team tasked with creating smarter and simpler home buying, financing and improvement experiences for today’s increasingly tech-savvy customer.

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How to Generate Referrals From Networking Events w/Aimee Freeman

Networking events are a great opportunity for us to learn from others and make connections, but they’re often perceived as a waste of time. How can we get the most out of a networking event without wasting our time with people who aren’t interested in what we offer? Why should we be careful with who we send referrals to? How can an introvert thrive at networking events? In this episode, Aimee Freeman talks about how she generated referrals by going to networking events.

 

Life begins at the end of your comfort zone. - Brian Curtis

 

Resources: 

- Join the Club Wealth Real Estate Agent Mastermind Facebook Group

- Get info on the Business Strategy Mastermind Conference November 12th-15th 2018 in Anaheim, CA

 

Three Things We Learned From This Episode

  1. We need to surround ourselves with people we admire

If we want to grow, we need to surround ourselves with people who already achieved a high level of success. And most high-level players do go to networking events. If we’re too shy to introduce ourselves, asking a mutual acquaintance can help.

 

  1. Be aware of paid endorsements

Paid endorsements are very popular online. There are even groups where agents can find people willing to endorse in exchange for a small fee. Because of these practices, we have to pay even more attention to whom we send referrals, as well as their background in real estate.

 

  1. How to encourage others to recommend us

One of the best ways to ethically encourage others to tag you on social media is to use contests. Use a system that automatically puts each person who tags you into a drawing, and send them a message about it as well. This way, you get to show the people who tag you that you’re thankful for their help.

 

Even introverted agents can do well at networking events as long as they’re intentional with their interactions. We don’t need to have a specific personality type to strike a conversation with a stranger. Plus, stepping outside of our comfort zone helps our personal development. We must also keep in mind that everyone at networking events has roughly the same goals: to meet others and make connections.

 

Guest Bio

Aimee Freeman is a broker and owner of Aimee & Co., and she specializes in first time & luxury home buyers, relocation, investors, sellers, and marketing.

She has over 19 years of experience in real estate, but she doesn't shy away from using modern marketing strategies. Aimee completed several courses for Facebook, Pinterest, & LinkedIn and has experience promoting her listing in the digital environment.

You can find out more about Aimee here.

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From Trading Time for Money, to Trading Ideas for Money w/James Shelby

 

Real estate agents are commonly taught to be “self-self-employed” which means they never become business owners. What are things we can do to transition from trading time for dollars to trading ideas for dollars? How should we approach prospecting? What does it take to get to 6-figures of net income? On this episode, we talk to James Shelby about leveraging, diversifying lead streams, and becoming a true business owner.

 

You need to find multiple streams of leads to bring in the business. -Michael Hellickson

 

Resources: 

- Join the Club Wealth Real Estate Agent Mastermind Facebook Group

- Get info on the Business Strategy Mastermind Conference November 13th-15th 2018 in Anaheim, CA

 

Three Things We Learned From This Episode

Expireds vs. circle prospecting

Circle prospecting calls are easier to make than expireds. An expired is not going to be as happy to talk to you because they are constantly getting calls. A person on a cold call will be more friendly and comfortable.

 

Prospecting all the time is not the path to long-term success

In order to make more money, our mindset shouldn’t be that we must prospect all the time. All that does is lead to burnout, and it won’t bring long-term happiness. If we want to build a business that has balance and a long-term chance of survival, we have to do more than just prospecting.

 

Diversified lead sources are the way to scalability

If we want to make a solid 6-figure net income in this business, we need to have about 10 solid lead sources. This is what it takes for us to go from self-self-employed to business owner, and to have more freedom.

 

We are either employees, self-employed individuals, business owners or investors. When we’re employees or self-employed, all we’re doing is trading time for dollars and there’s no leverage or scalability. On the other hand, if we’re business owners or investors, we can now trade ideas for dollars and achieve true freedom. What it takes for us to achieve this is diversifying our lead sources so that we don’t burn out on prospecting, and have a balanced business that can weather the shifts and changes of the industry.

 

Guest Bio

James Shelby is a real estate professional in Southern California. He is focused on making clients happy and keeping them as life long friends. He specializes in working with first time buyers, sellers, and investors. Go to http://www.shelbysold.com for more information or connect with James on LinkedIn https://www.linkedin.com/in/james-shelby-330ba493/.

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How to Get On Track to 100+ Sales Per Month

All agents dream of scaling up their business, but what’s different about the mindset of someone who is already closing 100 deals per month? How can we break into new niches such as REO? What’s the best way to motivate our team? And how do we prevent our business from leaking money after a lead source disappears? In this episode, we talk about tips and tactics that will get you closer to your goal.

 

 

Sales is learning to communicate in a way that we can both win. -Brian Curtis

 

Resources: 

- Join the Club Wealth Real Estate Agent Mastermind Facebook Group

- Get info on the Business Strategy Mastermind Conference November 13th-15th 2018 in Anaheim, CA

 

Three Things We Learned From This Episode

  1. How to get rid of our limiting beliefs

    If we want to prepare ourselves mentally for the kind of work that requires selling 100 homes per month, we need to study the people who already did it. We can’t learn by spending our time with people who don’t believe in success at this scale. Often, the people we have around us don’t believe in us when it comes to our goals for building a successful career. As a result, we need to distance ourselves from people who don’t have faith in us and surround ourselves with those who do.

  2. Networking is the best way to break into a new niche

    If we’re looking to break into a new niche, going to networking events is a must. However, we shouldn’t just flock to the people who are already surrounded by other beginners like us. Instead, we should find their names, contact info, and what they could use help with. When we introduce ourselves, we shouldn’t just ask for something from them—we need to deliver something of value as well. This way, we be taken seriously and get more chances to spend time with seniors in the niche we want to break into.

  3. We need to find people’s motivations

    Our motivations are more diverse than we think. A raise to our agents isn’t always a good motivator. If we want our team to perform well, we need to find out what each agent needs. Once we find what our people are looking for, it’s easier to leverage them.

 

When we aim for a higher income, we need to aim for at least 25 diverse lead sources. If we only rely on a few lead sources, we have no safety net. If one of the lead sources dries up, our business is lost. The same concept applies to having 5 buyer’s agents on our team. It’s a disaster waiting to happen. If one of those agents thinks about starting their own business, our income will dip drastically as well.

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How Nick Waldner Went From 50 to 500 Transactions a Year in 5 years

Most teams don’t take the time to set up career paths for their agents, and this leaves them with very little value to offer. How can we develop a path that teaches agents the high value work they need to do, and give them space to grow as leaders too? When it comes to getting more results, why is leverage the answer? Why is specialization the only way to earn more, grow successful businesses and still have the ability to be devoted to our families? On this episode, Nick Waldner shares the lightbulb moments that helped him go from sales professional to business owner of a thriving team.

 

When you highly specialize, you make more money and you get time back in your life. - Michael Hellickson

 

Resources: 

- Join the Club Wealth Real Estate Agent Mastermind Facebook Group

- Get info on the Business Strategy Mastermind Conference November 13th-15th 2018 in Anaheim, CA

 

Three Things We Learned From This Episode

The problem with “keeping it small and keeping it all”

When we’re given talent, it’s important that we help people reach their maximum potential. If we’re choosing to keep it “small and keep it all”, we’re not helping people live their best lives. If we miss that, we miss the whole point of business.

 

What happens when we don’t specialize

If we don’t specialize, we’ll end up having a full-time job doing the technician stuff, as well as a part-time job doing all the back-end work, and a part-time job bookkeeping. This is how we end working double, even triple time.

 

Our people must be more than cogs in our wheel

Many teams fail to give their employees a career path. That’s usually because the leaders are selfish and see their people as merely cogs in their wheel. If we give people the opportunity to grow, we make the business better and vastly improve our chances of keeping our good people.

 

If we’re not finding ways to leverage our businesses while adding people to grow, we’re just signing up to have a job for the rest of our lives. This doesn’t just cost us, it costs our families too. In order to 10X our businesses, we have to get off the hamster wheel and put systems in everything we do. We need to be helping people climb the ladder along with us. Being team leaders isn’t just a glamorous thing that gives us fame and clout— it’s a huge responsibility to serve both our clients and our agents.

 

Guest Bio

Nick Waldner runs The Waldner Winters Team, the #1 Team in his market. His team is included in Gary Keller’s Top 100 out of over 150,000 agents in Keller Williams. You will also see Nick on TV hosting the hit reality series “Waterfront Housing Hunting” on the A&E Station FYI. Learn more at www.waldnerwintersteam.com

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