Aug 28, 2019

How to Break Into the Luxury Real Estate Market w/Jack Cotton

For many real estate agents, the idea of selling luxury homes is intimidating. What are the critical skills required to work in this niche? What’s the difference between staging and market preparation? How do we build up our reputation to attract more luxury clients? On this episode, real estate veteran, author and luxury expert, Jack Cotton shares how to find success in the highly sought-after luxury real estate niche.

 

We don’t show property. We demonstrate the property and immerse them in the lifestyle that comes with the property. -Jack Cotton

 

Three Things We Learned From This Episode

  • Difference between market preparation and home staging
    Stagers usually don’t really think about what the buyer might want. Market preparation is setting up the home for the profile of the kind of buyer you want to attract. Very often, stagers try too hard and this can actually distract buyers or make them think something is off about the property. 

  • How to leverage the “gatekeepers of luxury” to meet potential clients
    The way into the world of luxury buyers and sellers starts with the gatekeepers to those people. We can start by asking who the key service providers are to the wealthy in our market, from CPAs to attorneys. Build relationships with them so we can get an introduction to potential clients.
  • How to be a master at negotiation 
    Build standing and preeminence in your market because it gives you authority. Never assume, find out what buyers and sellers actually want. Detach from the outcome and be willing to walk away from the deal. 

As real estate becomes more and more generic, and the tech world tries to creep into the industry, we have to position ourselves differently. In the high end market, being seen as generic as self-defeating. We must be seen as unique, different and constantly bringing value. We must build a reputation as a real estate advisor, not merely an agent. That means becoming an expert in markets and value, pricing, market preparation, marketing and negotiation.

 

Guest Bio

Jack Cotton is a veteran Realtor, author and founder of Cotton Real Estate, now Sotheby’s International Realty.  Since 1974 and has overseen thousands of purchases and sales of Cape Cod properties. Jack’s mastery of Cape Cod Real Estate is clear, yet he never stops striving for new knowledge. In fact, he believes so strongly in the importance of continued training and education that he funded the creation of the Cotton Center for Real Estate Studies at Cape Cod Community College in 2006. Visit http://www.jackcotton.com/ for more information. 

Get Jack’s latest book, Selling Luxury Homes here. 

Aug 22, 2019

The Art of Failing Forward w/Anthony Manzon

The truth about business, and life in general is that tough times and failures are unavoidable, but at the same time, we can grow from them. What measures can we put in place to keep working hard when the going gets tough? How do we turn our failures into our greatest moments of growth? What are some of the challenges that come with running a real estate team, and how can we overcome them? On this episode, I talk to Manzon Team co-owner Anthony Manzon, and Brian Curtis and Misti Bruton about staying committed in business when things are not easy, and how failure helps us achieve success.

 

Every decision we make either takes us closer to our goals or further away from them. -Anthony Manzon

 

Three Things We Learned From This Episode

  • How routines and rituals counter a lack of motivation
    We’re going to encounter the urge to quit many times in our lives, but we have to build in the habits that keep us from throwing in the towel. If we put rituals and routines in place; whether it’s going to the gym, scheduling time for lead generation or appointments with clients, those rituals will help us overcome our drop in motivation. 

  • The two things we should never give up on when things get hard
    When things get tough in business, the first things we usually quit are coaching and lead generation because they cost money, but during a hard time, those are the most important things. Without coaching, we become isolated and which wipes away all our motivation. If we stop lead generating, we stop attracting business and we’ll have to start dealing with the challenge of chasing it. 

  • How to build a system with less failure points
    When we build a system, we also need to have accountability measures around it to make sure everyone is doing it the same way.  If there’s a deviation from the system, the process of building it would have been a waste of time. 

 

Success is a math equation, and everyday we take action that either gets us closer to or takes us away from our goals. Even though failure is hard, it can actually propel us in the right direction if we apply the right mindset towards it. The formula for failing forward starts with us being willing to fail in the first place, and take our egos out of it. We need to be willing and able to take extreme ownership, so that we can drive ourselves towards the actions that will help us beat the slump. Ultimately, there’s no failure, there’s only learning and growing if you’re taking the right approach.

 

Guest Bio

Anthony is the co-founder of Team Manzon. Team Manzon was founded in 2013. By the end of their first year in business, they received The Rookie of the Year Award, were #1 in their Market Center and top 1% of their region. Since then, Team Manzon has now grown into a Group of Agents and has held #1 Team/Group in their Market Center for 2015, 2016, and 2017.

 

To download Anthony’s New agent questionnaire go to http://clubwealth.com/anthonymanzon/

Aug 15, 2019

5 Signs You Should Leave a Buyer At the Altar w/Aaron Drussel

Many real estate agents waste a lot of time and resources on prospects who are still too far away from actually starting the buying process. How can we tell the difference between the tire kickers, the pre-clients and the true clients? How do we make sure we get the true clients to commit to actually working with us? How do we create the abundance that allows us to let bad-fit clients go? On this episode, we’re joined by coach Aaron Drussel who shares the process he’s developed to make sure we know where potential clients are in the process, and how to work with the right people at the right time.

 

We treat clients who are still far upstream as now buyers too early in the process. -Aaron Drussel

 

Three Things We Learned From This Episode

  • How the buying process has changed 
    In today’s world of buyer and lead conversion, we’re catching people a lot earlier and further upstream in the process of buying. The problem is, many real estate agents are moving the relationship forward too fast, and trying to close instead of going according to where the person is in the process. 

  • Why we shouldn’t be reluctant to ask for a commitment agreement with a client
    There’s a fear of missing out on a buyer even if they aren’t the right fit. We need to measure the opportunity cost of working with someone who isn’t fully committed vs. actually working with buyers who are committed.  

  • How the fear of letting go is a sign of scarcity
    Being afraid to let go of the wrong clients is only a problem when we don’t have enough of a pipeline on the front end. If we have an abundance of clients and leads, it’s easy to let a bad prospect go because you know there are many other options.

 

There’s a world of difference between a pre-client and a NOW client, and we should be treating them differently in terms of the resources we put towards them. We need to sit down with people for an initial meeting and ask the right questions. We need to be clear on whether they have a need that can be met by the market right now, if their financing is in place, if they have a timeline of 60 to 90 days, want to work with us exclusively and if they are tethered to us with a commitment. Our success in leading them through the process comes down to how relevant our service is to where they are. 

Guest Bio

Aaron Drussel is a real estate team leader and coach. For more information, call 801-234-0505 or email aaron@betterutahliving.com

Aug 8, 2019

Why Running a Real Estate Team Sucks! w/Misti Bruton

We hear a lot about the greatness of running a real estate team, but it’s not always sunshine and rainbows. What are some of the challenges that come with running a team? How can we be good leaders in the face of adversity? How do we figure out what our roles on the team are? On this episode, agent and team leader Misti Bruton shares some of the challenges that come with the transition from solo agent to first-time team leader.

 

 

At each level of growth in leadership, there is a skill set that we have to learn. -Cherie Benjamin

 

Three Things We Learned From This Episode

  • The real reason why running a team is challenging 
    What makes a running a team difficult is that we have to learn a new skill set that’s very different from being a solo agent. We have to learn about leadership, leverage and actually owning and being accountable for a business, and that is a skill we have to develop. 

  • The key skills we need to have as leaders
    Leading a team is all about people, and there are many things we have to be able to do. We have to be willing to grow, we have to be willing to listen to people, and be willing to protect the team over the individual.

  • How to handle setbacks and adversity
    One of the skill sets we need to master as leaders is our ability to bounce back from challenges and adversity. We can do this by feeding ourselves with positive content and material, or we can learn to reset when something goes wrong, or reframe the negatives into positives. 

Running a team comes with great risk and responsibility, and with all the ups and downs it comes with, we have to be up to the task as leaders. Even if the required skills don’t come naturally to us, we need to work on getting coaching and developing them to the highest level. It’s not just about wanting a team because everyone in real estate has one, it’s about having a purpose and vision to build something and keep growing it. 

Guest Bio

Misty is a Realtor, broker and team leader at the AVO Realty Team. Go to https://www.greatertexashomes.com/ for more information. 

Aug 1, 2019

BIG Profits in BIG Brokerage: Growing and Scaling Your Business with Ancillary Service Providers w/Keith Myers

One of the major ways real estate teams have been able to make more money is by building relationships with industry-related businesses and institutions. How do we approach potential partners and make them want to work with us? What can we do to get the most value out of the relationship on both sides? On this episode, Club Wealth Tier 4 Member and Broker/Owner, Keith Myers shares on how his team has remained successful and profitable, doing $1.5 BILLION in volume, and bringing in an additional $1.5 MILLION in additional revenue from ancillary services and his real estate team!

 

 

It’s getting harder to make a profit selling real estate, so we’ve got to get more creative about how we do that. Relationships with ancillary service providers are one of the ways to do that. -Michael Hellickson

 

Three Things We Learned From This Episode

Why success with ancillary services starts with our primary business

The success of our primary business is what leads to the success of our ancillary services. So we need to drive traffic to our main business, because it makes everything else more profitable and valuable. 

 

How to make ancillary service providers want to work with us 

In order to partner up with ancillary services successfully, we have to give them value. We cannot expect them to want to do business with us, and help pay some of our costs if we don’t give something first. 

 

The value of including ancillary partners in our daily business activities 

It’s important that we get our ancillary partners involved in our business, because it strengthens our relationship with them. We also have to want them to win and succeed in every aspect of the business, and if we care about their success they’ll want to be a stronger part of our business. 

 

With more disruption to our industry comes the shrinking of our profit margins, and in order to remain successful we have to come up with new strategies. Ancillary services are extremely effective in growing our profits and keeping our teams running at the highest level. In order to successfully implement a plan that includes these services, we have to give to get, create a symbiotic relationship, and make the partners feel like a key part of the team.

 

Guest Bio
Keith is the Broker/Owner at RE/MAX Olson Companies, and a Tier 4 Club Wealth Member. Connect with him on LinkedIn https://www.linkedin.com/in/keith-myers-68807b12/ or email Kmyers@olsonmax.com


Sign Up for the Business Strategy Mastermind Conference here http://clubwealth.com/bsm/.

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