Building a real estate business in the luxury market comes with its own unique challenges, but are clients from this segment really that different? How can we walk the extra mile for a luxury client without sacrificing our free time? Why are photographs important for both the advertising process and in convincing a seller to list with us? In this episode, Josh Zollinger talks about how he broke into the luxury market and shares what he’s learned since.
Whoever you are without money, you are just more of the same with money. It’s a multiplier. -Brian Curtis
Be helpful, not just friendly People don’t meet with us because they need a friend, but because they want to buy a house. This is why so important to make the process professional, effective, and stress free for them. No matter how charismatic we are, if we don’t make their lives easier, they’ll look for another agent.
Photographs get clicks Photos are key to marketing a house. With low-quality photos, nobody is going to click on the ad, especially in the luxury market where everyone has high standards.
Focus on the things that matter and delegate everything else Many agents end up working up to 80-90 hours per week. While they do make good money, they can’t catch a breath. Selling and buying usually involves a lot of administrative work as well, and all of this can be outsourced to someone else.
Luxury clients tend to be savvier and have higher expectations. In the end, however, they’re just people who want the same thing as everyone else: a good customer experience. We need a marketing plan each time we give a listing presentation, and we must be able to prove that we have the expertise and the willingness to go the extra mile for them.
Josh Zollinger has had a successful career in sales and is noted for his excellent negotiating skills and professionalism. His skill set includes construction, finance, accounting and mortgages. Go to http://www.zollingergroup.com/ for more information.
A lot of agents underestimate the value of building relationships with the agent community, and they miss out on great opportunities. How can we add value for our fellow agents? Why are relationships the lifeblood of our industry? How do we build relationships with people on the institutional side? On this episode, Ken Pozek shares how he grew his volume to $40 million in just two years in a new market, and why relationships were so instrumental in his success.
If we’re not building relationships with our clients and our other Realtors, our function becomes moot. -Brian Curtis
Be intentional with your actions at events. Build relationships while you’re there.
When we leave our business and family behind for days to go to an event, we can’t just go there to stay in our clique. We should have goals when we go to these events, and recognize that they are a powerful way to meet people and make valuable connections.
Become associated with your city
When we’re networking or making appearances, our last name is moderately important. The order of importance is actually first name, city, and last name. If people associate us with our city, they think of us when they think of that city.
Be purposeful with long-term follow-up.
Unless we’re planning to be out of business soon, we need to do long-term follow-up to set ourselves up for business and deals in the future. If we only take the low hanging fruit today, we’ll miss out on the good that can come later from effective lead nurturing and follow-up.
Everything in our business is a relationship, and the further we go on the line of this internet, the more we have to remember this. If we cease to be a relationship business, we cease to be important at all. If a computer can open the door, show the house and work on the contract, we’re no longer important, and there obsolete. That’s why relationships matter now more than ever. We never know how that relationship is going to pay dividends in the end, and the profitability we get from those relationships is through the roof and will always be far better than business we pay for.
Ken is a real estate agent and team leader with a passion for helping organizations and individuals reach their goals. Owner of the Pozek Group Sales Organization with offices in Florida and Michigan, and 2012 Honoree for NAR's 30 under 30, Ken Pozek has over 600 homes sold in his career. A former flipper/investor and appraiser, Ken built a successful team in Michigan then moved to Orlando and maintains operations in both areas, focusing now on building a team in the Orlando market. Go to http://pozekgroup.com/ for more information.
When we’re doing a lot of deals and everything is running well in our business, it’s easy to miss the early tremors of a shifting market. What are the details we need to pay attention to in order to know that something is coming? Which market should we pay close attention to? How do we make sure our businesses are well-balanced? On this episode, Mike Bjorkman shares how he managed to thrive through two market shifts, and the early warning signs we should be paying attention to.
We want to make sure we’re positioned well for anything the market does. -Mike Bjorkman
Even when things get tighter financially, never scale back on your coaching During a shift, a lot of teams leaders are going to freak out and start tightening up the purse strings. They usually start to cut back on coaching and lead generation, which are the two things they need most. Coaching is critical for making through a market shift and you should be scaling it up, not down.
Coach your sellers to adjust their expectations Sellers need to be coached through a market shift as much as our agents do. They have to learn what their results are indicating about the market and understand that agents are going to be comparing their house to better deals.
Maintain a balanced book of business We need to grow our institutional clients while simultaneously growing our residential and retail business. As we do both, they will feed off each other and our businesses will last a long time and get us through any shift.
Most of us only look at the downside of a market shift or downturn, but this actually makes us miss out on the upside which is all the opportunity such an event creates in our industry. Shifts are where the real money is made. They are chaotic, but that actually creates opportunities and gives you a shot to take up more of the market share. In order to do this, our businesses have to be well-balanced and protected, and we do this now by bringing more value to our relationships, taking as many listings as we can, and investing in coaching.
Mike is the Broker/Owner at Team Bjorkman Real Estate. He is also a real estate coach and podcaster. For more information, go tohttps://teambjorkman.com/
A lot of us are seeing low conversion rates because we lack tenacity on our leads.How can we empower ourselves with information about the buyer so we can better serve them? What should our attitude be toward incoming calls? What’s the most effective way to assign leads to agents on the team? On this episode, we talk with Mike Bernier about maximizing his realtor.com leads and converting them at a higher level.
The ISA is part of the team, and he or she knows the agents well. When the ISA is on the phone with the lead, they’ll know which agent will work best with the person. You need a good fit for the lead so the buyer moves forward.
Use the conversation to learn about the other person
It’s really important to ask good questions that lead people to reveal more about what they are looking for. It’s about not dominating a conversation, but about controlling the conversation by asking questions and listening. A good ratio to go by is to talk 30% of the time and listen 70%. This will show you where to steer the conversation.
Follow-up has to matter as much as speed to lead
Agents give up too early, especially when there are a lot of leads on the table. Often, when you give agents too many leads, they don’t follow up as tenaciously as they should with the leads that they have.
If you want to increase your conversion on a lead source likerealtor.com, it’s critical to have a solid ISA in place. If you’re a solo agent, your ability to take the call when it comes in is important. When managing your agents, remember that there are no participation medals in this business. If you’re just going to give leads equally on your team, you’re going to make less money than you should. Lean on the ISA to assign leads to the right agent, and let the ISA use the calls to learn about the buyer. Don’t make the mistake of asking just one question and thinking it’s enough. Ask questions with the goal of knowing as much as you can about how the buyer thinks.
Mike Bernier began his career in 1998 with the idea that he wanted to make a real difference. He quickly found a passion for Real Estate, the industry as a whole, and for helping people. Currently he is a managing broker and Co-owner of Realty Group Inc. He is also mentor and instructor/trainer. He helps Realtors of all experience levels develop their talents and focus their efforts. Get more info at https://mikebernier.realtygroupmn.com/
Most team leaders would never entertain the idea of hiring agents who are new to the industry, but it is something we should all consider. What are the benefits of hiring “green” talent, and how do you interview to find the right fit? When it comes to listing presentations, how can you hold them in your office successfully? How do you make sure you go above and beyond your competition in these in-office presentations? On this episode, Kevin Yoder shares how he’s making two over-looked strategies work for his team.
When we invest the right amount of time and resources into the right thing, we get return on investment. -Michael Hellickson
Show clients the value of coming to your office as early as possible
Great leaders aren’t afraid to train people to become better than themselves
New agents in the industry provide the best coaching opportunity for us
If we want to win with in-office listings, the value we bring to the client has to be clear right from the start. If they see the value, they won’t object to doing things differently from other agents in the market. When it comes to hiring, most of us make the mistake of hiring for skills rather than talent. Experienced agents may have the skill, but talent is a different thing entirely. When you go out specifically looking for experienced agents, you’re hiring for skill and hoping they have talent. Try to look for the talent first, and invest in teaching the necessary skills.
Kevin is the founder of Yoder Real Estate in Grand Rapids, Michigan. His team are now on track to do 250 homes sales in 2018, which is a 40% increase from the previous year. Kevin attributes this recent success to learning how to master recruiting and surrounding himself with great people. Go to http://yoderrealestate.com/ for more information.
We often underestimate the impact our children can have on our business, or the long-term benefits of learning what hard work looks like from an early age. How can working with us impact our children? How will this affect their future careers? And why is it important for them to learn strong work ethic early on? In this episode, we will share 4 amazing stories of teens who work side by side with their parents to grow their family business.
Ultimately, we all have the same goal. We want to build our company and leave a legacy. -Amber Santa Ana
Whether our children decide to continue working on our business or find a new path for themselves, the discipline and the work ethic learned now will help them in any career they pursue. While most young adults will still be struggling to adapt to their new reality after graduating from school, teens who worked early on will be a step ahead.
A small job doesn't always mean a small impact
Even if kids won’t do much in the beginning while they’re still learning the ropes, we should strive to motivate them to make the best out of their role. This involves encouraging them to be outspoken when they see something that needs to be improved.
Teens are often underestimated
We often underestimate the capability of our children. As a result, we risk losing the opportunity of including a generation in our business that has a firm grasp of what happens in the online environment. If we provide them with the right tools, they have the opportunity not only to follow our directions, but also come up with new suggestions based on their unique perspective.
The greatest gift we can give to our children is the opportunity to do something truly valuable with their time and prepare them for adulthood. Life after graduation can be a stressful change for many young adults. They suddenly have to deal with a new reality that they were previously sheltered from: responsibility, work, and bills. If we can prepare our children for what they’ll need later in life, we will put them one step ahead of the game. They’ll also have the valuable work experience that they can leverage into their next job or endeavor.
Amber Santa Anagraduated high school early at 17 and contributes to her parent’s business, a property management company. Currently, she is looking to grow the business by attracting more talent via internships.
Grace Ray is 16 years old and has been part of the family business since she remembers.Today, she handles the systems behind the family business. She is focused on making small tweaks that have a significant impact on the time and money saved. She is also part of the Club Wealth Youth Squad.
Austin Hellickson is only 15 years old, and is the Relationship Manager interning at Club Wealth. Part of his job is to build a relationships with clients and teach them how Club Wealth can help them out.
Maddison Hellickson is a 17 year old student and marketing assistant for club Wealth. She loves learning about web development and marketing strategies, and part of her job is to implement everything she learns to grow her family business.
A lot of us easily forget the value that comes with going the extra mile with our listings. How does committing to adding more value actually give our clients more returns? Where are we missing the mark and could be doing better? How can we create scarcity around even the most common properties? On this episode, Todd Tramonte joins us to share the 7-step action plan that allows his team to not only increase their commission but help clients earn more.
It’s not about what we do or the cost of the things we spend money on-- it’s the return to the client. -Todd Tramonte
Don’t fear pre-inspection. Turn it into a marketing lever
A lot of people are afraid of pre-inspections because they think there’s a liability issue with disclosure. Actually, a pre-inspection solves a lot of potential problems and puts us in the driver seat for our clients, allowing us to control the delivery of information and eliminate the negatives during the positioning phase.
There are 3 marketing strategies every real estate agents should employ
There are three different way we can market a property, and most agents only scratch the service of one. Preemptive (hyping it up before it goes on market), broad-based (marketing to everyone), and piling on niches.
How to create a market of one
A lot of people think scarcity is dictated by the market, but we can actually drive scarcity up and down. We can do this by creating points of scarcity about the property we’re trying to market. Ask yourself what makes this property unique and what people can’t get anywhere else.
The seven steps to fetching higher commissions are pre-inspection, professional staging, professional photography, marketing, creating scarcity, driving urgency and negotiation. As we put these pieces together, we form a complete marketing strategy that will exceed our clients’ goals. Our goal when speaking to a potential client is not to rationalize the value of these things based on the cost. It’s about the impact and the value they receive and the return that comes from them.
Todd Tramonte is well known as an innovator and leader in the areas of real estate marketing and sales. His passion for education and commitment to excellence are trademarks of his leadership of both his company and his clients. Todd is the host of Texas Real Estate w/ Todd Tramonte and is a frequent guest on industry podcasts and educational events for Realtors and Brokers around the world. Todd is also an energetic and entertaining speaker on the topics of real estate, small business development, and his Christian faith. Go to https://www.dallashomerealty.com/ for more information.
A lot of us aren’t hungry enough for our goals and it shows in our results. How can we overcome this so we can start winning? Why are relationships so important? What does it take for us to stop making excuses and step into our purpose? On this episode, we discuss some of the key learnings and insights from our Listing Agent Bootcamp.
Don’t rest on having a big database. It doesn’t mean you don’t have to put in effort. Great customer service during the transaction is a given. What makes the difference is how we take care of our clients after the transaction. That level of customer service is what gets us the referrals.
Think financial freedom, not debt freedom
The goal should be to achieve to be financially free, not to be debt free. When you say the latter, you tend to focus on the debt part. Be careful what you put in your mind everyday, and focus on things that are big and expansive.
Relationships are key
Our main goal at our events is to help people build relationships. So think about the three people you met at the event that you have to follow up with. Who are the people you should go deeper with on a relationship and what value can you bring to them? Don’t think about what they can bring to you-- think about what you can do. Eventually they will give value to you, but you have to give first.
There’s a big difference between “wanting something” and wanting something enough to overcome all excuses and limitations that hold you back. Even small tweaks in the right direction can help take your business to the next level. Ultimately, you have to be willing to learn and educate yourself so you can be free and win at this game called business.
One of the biggest misunderstandings in real estate is what a team leader actually does. It’s not about sitting back and collecting a paycheck. What is the truth about what it takes to succeed? How do we know if the time is right to grow a team? How do we learn to push things forward in our team? On this episode, we talk to Michael Baird who shares on transitioning from solo agent to team leader.
You want to be the one to call them when they’re ready. You’ll never know when they’re ready, so you gotta keep calling. -Michael Baird
A large part of success is doing what you’re good at over and over again. It’s all about getting into the habit of doing what you have to do, even when it gets tedious.
Team leaders have to bring value to the table
When you’re a team leader, you aren’t just going to sit back while the money rolls in. You have to constantly add value to the people you lead. That means as a leader, you have to constantly be improving and growing yourself so you can be of use.
You have to seek your clients, not wait for them to seek you
The idea of a brand new lead is quite silly. People buying houses don’t just suddenly call an agent. They go through the process of checking the MLS, and you’re going to get the listing by seeking them in the process, not waiting for them to seek you. Just because a lead is higher up in the funnel that doesn’t make them a bad lead. It just means they’re not a “tomorrow” lead.
Being successful can be exciting, but getting there rarely ever is. To succeed you have to be willing and able to repeatedly do the tasks that are necessary. Don’t be afraid of the grind, and be willing to eat the frog. You have to do those things you don’t really want to do until you can afford to pay someone else to do it for you.
The idea of an objection can be intimidating to a lot of real estate agents, but it doesn’t have to be. What are ways we can resolve concerns, and actually turn them into opportunities to provide value? How can we tell the difference between an objection and a simple question? How can we reframe an objection? On this episode, Jesse Zagorsky shares how to handle objections like a pro.
If there’s an awkward pause in the conversation after you’ve handled the objection it’s probably because you should be closing. -Jesse Zagorsky
Know the difference between an objection and a question
There’s a huge difference between an objection and a question, and we have to know this. Sometimes a question comes up at the right time, and the person has every right to ask. All we need to do is answer the question and keep it moving.
You can ignore an objection without being rude
One of the most effective objection handling tactics is to ignore the objection. You can acknowledge it but you don’t have to address it in the moment, and you don’t have to be rude about it. Most people are less committed to their objections than we are to pushing it back to later on.
Don’t miss the opportunity to close
The last step of objection handling is one so many of us miss-- and it’s closing. We’re not going to get the business until we actually come out and ask for it. Instead of standing in the awkward silence after handling an objection, close the deal.
There are 6 steps to handling an objection like a pro. You have ignore, reframe, isolate, cushion, handle and finally close and ask for the business. You have to have the tenacity to ask for what you’re worth because that’s what actually determines your value to your present and future clients.