As we enter the final week to apply for the 30 Under 30 class of 2017, we’ve been receiving many questions about the inclusion of a video with a candidate’s application.
Submitting a video is not required to apply for 30 Under 30. However, you should consider a video as the cherry on top of your stellar, well-written application. Including a video can be a compelling addition to your application, as long as you keep these tips in mind.
1. Make sure your video is specific to 30 Under 30 and not a generic marketing video that you produced for your business.
2. If you have a compelling story, whether it be an innovative business strategy or a personal experience that can be brought to life on video, we strongly encourage you to use this medium. It’s the place where you can show rather than tell.
3. Your video does not need to be professionally shot, however, it should be polished and clear. Make sure your audio is adequate and viewers can hear what you’re saying. Consider writing a script or talking points.
4. Try to not repeat everything you write in your application. This is the time to build upon your answers or say something you couldn’t quite fit in your application.
5. Keep it to two minutes maximum. All videos reviewed during the in-person judging meeting are cut off at the two minute mark so that every applicant gets equal time.
6. It doesn’t have to be just you on camera. Past applicants have included clients, colleagues, and others in their videos to help tell their story.
The deadline to apply for 30 Under 30 this year is Tuesday, Jan. 17 at noon CT. If you’re looking for more tips on how to create a standout application, read our article “Do You Have What it Takes?” Below are two application video examples from 2016 30 Under 30 honorees. For more information, visit realtormag.realtor.org/30-under-30.
By Brandon Doyle
In this day and age, it’s likely that a significant contingent of your leads originate online. Since many apps and websites cut out the need to pick up the phone or initiate conversation face-to-face, it’s increasingly common for first-time home buyers and veteran home owners alike to explore their real estate options online. With that in mind, here are a few tips and tricks to help you can cash in on internet leads, converting online interest to real world sales.
1. Follow up, and follow up fast.
From social media to basic email, the internet is built around immediacy and instant gratification. Don’t let page visits, comment forms, or follow-ups go unchecked in your inbox. Keep track of your online portals and follow up with efficiency. Even a tiny amount of interest from an online real estate search can be transformed into a sale. Treat interested individuals for what they are: potential clients.
2. Ask open-ended questions.
When a conversation goes stagnant, back-and-forth communication drops off quickly. Whether you’re following up via email, social media, text, or by phone, it’s important to keep the conversation focused on the potential client. By asking open-ended questions, your lead has the opportunity to open up and engage on a personal level—all of which cements your connection to your potential client.
3. Follow up, again!
Sometimes it takes a few tries before a follow-up interaction will stick. People are busy, and often inundated with promotional emails and spam. A lead may not remember to respond without a little prodding, and don’t forget that it’s the greasy wheel that gets the oil. Staying committed to your lead is an essential component in converting it to a sale.
4. Provide value.
Anyone can send out an impersonal, automated email in response to an internet inquiry, but establishing a connection—providing a potential client with something of value—makes all the difference in translating internet interest to real world sales. Whether you’re forwarding a property that fits the lead’s interests or sending personal correspondence, value is what separates your follow-up response from internet spam.
5. Remember that this is about them, not you.
Don’t forget—that internet lead you’re chasing is a person or family with real needs, vision, and hopes for their future home. While converting leads to sales is about growing your business, the services you’re offering are all about the client.
Tailoring your treatment of internet leads builds for yourself a wealth of potential clients. Like mailers and open houses, the internet is a valuable tool—so keep these steps in mind as you grow your online presence and mine the world wide web for an endless flow of potential clients.
Brandon Doyle, ABR, e-PRO, is a second-generation real estate pro with RE/MAX Results in the Twin Cities. He is also coauthor of the book M3 – Mindset, Methods & Metrics: Winning as a Modern Real Estate Agent available now on Amazon. Learn more about Brandon at www.doylerealestateteam.com.
By Ryan Fitzgerald
With more than 2.5 million blog posts being published every day, it can be difficult to sort through the noise. Now that the year is coming to an end, I thought it it would be helpful to organize some of the year’s best real estate articles into one large round-up post for you.
I reached out to some great real estate blog authors to ask them to summarize their article in five to 10 sentences, and I’ve also summed up a few articles that I really liked as well, and I’ll tell you why. My hope is you will find these articles as valuable as I did. So without further ado, let’s dive in:1. The Ultimate Home Seller’s To-Do Checklist
By Andrew Fortunate, real estate agent, Colorado Springs, Colo.
Selling a home can be stressful for everyone involved. As real estate professionals, we typically forget that our clients have no idea what they are doing when they are preparing their home to sell. We assume they know what to do. Rather than wait for them to ask, we send them a Home Seller’s Checklist.
This checklist makes it easy on sellers, and they are always appreciative. It makes things less stressful for them.
It’s a lot like cooking. If you’ve never made the meal before there is a good chance you wouldn’t know where to start — you probably wouldn’t even be sure what ingredients to buy. This checklist will allow sellers to follow your directions and check things off as they go.2. Understanding Solar Power When Buying or Selling
By Bill Gassett, real estate agent, MetroWest, Mass.
Without a doubt, solar power has become increasingly popular and with good reason. Solar power is environmentally friendly and saves home owners lots of money on their utility bills. As you can image, there are many of solar companies fighting for the rights to install solar power onto many people’s homes.
Unfortunately, there is a lot of misinformation when it comes to what adding solar power will do to home values. If you ask most solar power companies, they will tell your there is an instant return. In fact, you might even hear that solar power will instantly add tens of thousands of dollars to the market value. Folks, this is wrong!
If your clients are considering adding solar power to their home, they should do it for the energy savings. Solar companies want you to believe solar panels will add value to a home, but that is simply not the case at this point.3. Are You Searching for a Home or Bigfoot?
By Debbie Drummond, real estate agent, Las Vegas
I wrote this article because it is so important for buyers to establish realistic expectations in their home search. If you’re on a budget, you need to figure out whether a home with a pool is available in your price range. Or if you want a huge home, you may have to choose an older home to be able to get it at a price you can afford. Homes vary from one market to another. One of the biggest disappointments buyers find when moving to Las Vegas is most homes don’t have large yards. The buyer who wants at least half an acre is going to find they’re rare here and they don’t come cheap.4. Fannie Mae HomeReady Loan Guide
By Tony Mariotti, real estate professional, Los Angeles
In 2015, Fannie Mae added a new mortgage program, HomeReady, to their “low down payment” conventional loan program quiver. It’s a 3 percent down payment, conventional mortgage for low to moderate-income borrowers with good credit. What makes HomeReady really unique is that its guidelines allow non-borrower income — in certain circumstances — to count as qualifying income. Meaning, income from roommates, boarders, and family members who will not be listed on the deed or note can still be factored into the loan approval. Each type of income has it’s own rules which are covered in the full article.5. Mortgage Overlays
By Luke Skar, real estate professional, Madison, Wis.
What are mortgage overlays?
With the mass amount of information available about different mortgages, we wanted to provide some useful tips to real estate professionals as well as other mortgage lenders about mortgage overlays.
To be brief, a mortgage overlay is an extra rule or requirement put in place by a lender on top of the established guidelines. These overlays can be in place with any mortgage program including Fannie Mae loans, FHA loans, Freddie Mac products or either the VA or USDA home loans. Specific examples of mortgage overlays, along with a deeper understanding of how the overall mortgage market works, will paint a better picture for you.
The purpose of the overlay is to decrease the risk to the lender. Even though the customer may meet all of the parameters of a specific loan, the lender may impose an additional guideline. This is usually based on its own experience dealing with certain class of borrowers. Understanding the overlays will help you get a better feel for which kinds of loans can get approved as well as what type of items to look out for in the future.6. Staging Your Home to Sell
By Karin Carr, real estate agent, Atlanta
I wrote this article because when clients hear the word “staging” they usually think of hiring someone who will charge them a hefty fee and bring in their own furniture. I wanted to show people how they could prepare their home to sell without breaking the bank. This is something I can leave with potential clients on listing presentations or direct sellers to if they need help getting their house ready for the market.
With content marketing, the idea is to put lots of valuable information out there with no real expectations of the potential client. They can read the blog posts I write and get all this information for free and without being badgered by anyone. After seeing my articles and videos over and over they feel like they already know me by the time they ask for my help.
I have tried cold calling and quite honestly, I’d rather poke my eyeballs out with a fork than call random strangers for two hours a day. I prefer to give value first and when potential clients contact me they often say, “I feel like I know you already! I’ve seen so many of your videos and have read all your articles.” Would you rather have a warm lead like that who doesn’t even interview any other agents, or cold call someone and try to convince them they should meet with you? It’s a whole different conversation!7. How to Become a REALTOR®
By Jeff Knox, real estate agent, Dallas
The process of becoming a real estate professional can be confusing and daunting. A lot of real estate education sites exist, but Jeff Knox has broken down the best educational providers and, in addition, has included great expert advice from some of the top real estate professionals around the nation on how to take the next steps after getting your real estate license. Here is a guide on how to become an agent for those who are thinking about getting into the industry.8. Reasons Why REALTORS® Will Be Needed FOREVER!
By Joe Samson, real estate agent, Calgary, AB
It has been predicted by many people that more and more real estate agents will be going to be out of business due to advancements in technology and access to resources online for consumers. Within the last 10 years, the real estate industry has gone through some major changes of how a real estate transaction is being handled. However, the most underlying responsibility of a practitioner has not changed at all. In fact, it became more evident that there is an even greater need for a caring and hard-working real estate professionals.
This article highlights that home sellers and buyers need the advice of real estate agents more than ever. The abundance of information that is available today often cripples the average person and confuses them when they’re simply trying to make good choices. The number one responsibility of a REALTOR® is to educate their clients about the real estate transaction and things that they need to watch out for to avoid costly mistakes.9. How to Sell Your Home for Top Dollar
By Nathan Garrett, real estate agent, Louisville, Ky.
When it comes to selling a home, your main objective is to net the most amount of money as possible in the shortest amount of time. In this article and infographic, we uncover a list of easy-to-follow tips that will hopefully help home owners achieve this real estate goal.
There is a lot that generally goes into the process, and at first it can be very overwhelming. To help a potential seller get started, we decided to put together this list to help. Hopefully, these tips will give your clients a general idea of where to begin. That way, your time and money is best well spent.10. From Renter to Homeowner
By Dustin Brohm, real estate agent, Salt Lake City
Since I work with quite a few first-time home buyers, and those seeing their third or fourth homes, I have noticed there is a big difference in how renters and homeowners think and approach the home buying process. It only makes sense, right? If you’ve been renting your whole life, how are you supposed to have the perspective and knowledge of someone who has bought a few different homes?
Most things the soon-to-be-homeowner will just pick up along the way, by experience. However, there are some things that renters need to know before starting the home buying process. They don’t want to make an avoidable mistake, and they certainly need to know what new expenses will be in their future. It’s important that renters are properly prepared to become homeowners, so the experience is enjoyable and special.11. The Beginner’s Guide to Buying Rental Properties
By Seth Williams, real estate investor, Grand Rapids, Mich.
When I buy rental properties, my goal is to find deals that will make every one of my invested dollars work hard.
I want every penny to work overtime, producing as much revenue as possible while simultaneously paying off any debt associated with the property. When you buy properties with this goal in mind, there is basically no limit (mathematically speaking) to how far you can grow your net worth and personal income.
There are many, MANY aspiring investors who struggle in this area, because they don’t know where to find a legitimate, profitable rental property. One of the biggest issues is the inability to analyze and evaluate a rental property the right way. There is no proper set of expectations about what a rental property should produce, and why investors buy them in the first place.
This blog post is intended to show you exactly what steps I go through in analyzing a deal, what my expectations are, and how I ensure my (or my client’s) return on investment will be something they can be proud of.
I’m a pretty big fan of “on-the-job training,” so I figured the most practical way to show you this process would be to use a real life example I dealt with just a few short years ago.12. How to Crush it on Pinterest in Real Estate
By Kyle Hiscock, real estate agent, Rochester, N.Y.
Fittingly, one of the best articles of 2016 refers to one of the best social network for real estate agents, Pinterest. Pinterest can be an incredible tool for real estate professionals if used properly. It can drive insane amounts of traffic back to a real estate website.
This article provides some excellent Pinterest tips for real estate professionals. The article is packed with not only reasons why Pinterest should be a part of a real estate professionals social media strategy, but also some great tips for using Pinterest effectively in real estate. If you’re wondering how Pinterest could impact your business or how you should be using Pinterest, you must check out these excellent Pinterest tips.13. 13 Things Buyers Need to Know in a Seller’s Market
By Angela Duong, real estate agent, Tremonton, Utah
Across the country, there are many real estate markets experiencing a seller’s market. Homes have been receiving multiple offers within a day, and some even hours after being listed on the market. There are many home buyers getting upset and frustrated with the way things were going. They are losing to other buyers during the multiple offer situations. Or at times, they didn’t even get a chance to see the home because it was under contract before they could schedule a showing.
The seller’s market prompted Angela Duong of MADHomesUtah.com to write up an article for the home buyers. This article gave 13 tips of what needed to be done in order to win in a seller’s market: from making sure the home buyers were already pre-approved to making the decision if buying in a seller’s market is really in the buyers best interest. When you find your market has become a seller’s market, have this article ready to share with your home buyers to give them a heads up on what they should be thinking about in order to get the home they are looking for.14. Instagram for Real Estate
By Kelvin Krupiak, Easy Agent PRO
One trend in social media marketing relates to the massive increase of people are using Instagram. This blog post goes into detail on the best ways to generate leads via Instagram. After examining 41 different real estate professionals’ profiles, we were able to pinpoint 41 different strategies that agents and brokers are using to build their real estate business on Instagram. If you’re not already using Instagram for marketing, you should check out our article for inspiration on things you can do to get going.
If nothing else, you may enjoy some of the photos agents are posting!15. Home is Essential to Well-Being
By Chris and Karen Highland, real estate agents, Frederick, Md.
This blog post is about our participation as a brokerage with a non-profit called New Story, (building homes for $6,000 in impoverished areas). It has become one of my favorite articles that I’ve written. It has reminded me that a real estate blog is not only a tool to explain real estate concepts and show yourself as the local expert, but it’s also a tool to express who you are as a business person. Your values, your ethics, and what you think — even your “big why”— are important aspects of your business that you should be communicating to potential clients. If you work consistently to create good content, you become a thought leader in the industry — even if it’s in a small pond, like in our market. So why not put your thoughts out there, let people know what you think is important?16. 5 Killer Multiple Offer Strategies
By Justin Culley, real estate agent, Cottage Grove, Minn.
For would-be home buyers, competing against multiple offers to win the home of your dreams can be a very stressful time. It can be especially difficult if you’re not adequately prepared with the right multiple offer strategies. Now, if you’re working with an experienced agent who’s been down this road before, then you shouldn’t have to worry too much about what those strategies are and which one(s) might be best to employ in a given situation. That being said, not all agents are created equally. Some have much more experience with heated negotiations than others.
Here in the Twin Cities (Minnesota) real estate market, and in many other markets throughout the United States, we are experiencing a “Seller’s Market.” Our buyers are shopping for his or her next dream home in a seller’s market, when inventory levels are drastically low and there are not enough houses available for a large number of potential buyers. This often leads to homes selling much quicker than normal and at a much higher price. The price is commonly inflated due to multiple offers coming from multiple buyers. Basically, it all boils down to the basic economic principle of supply and demand. If demand is high and the supply is low then prices go up.
In this article, I equip the buyer with five of the best and most successful multiple offers strategies that you can use to beat those other would-be buyers and win that dream home. Buying a home can be a very emotional process with lots of twists and turns, especially when competing against multiple offers. Make sure you’re setting up your buyers up for success.17. Selling a Rental Home
By Alexis Craig, real estate agent, Lansing, Mich.
Everyone likes to teach you about how to buy rental properties, but very few people teach you how to sell. The wrong exit strategy could leave you or your clients with a large bill from Uncle Sam or your personal finances torn apart because your rental produces a negative cash flow.
First, understand the reasons your clients need to sell. Is it because of a bad deal? Just tired of managing rentals? Either way, you need to create what I call an offload-loss strategy. This is when you sell the rental property as quickly as possible when certain conditions are met.18. A Dozen Reasons to LOVE Being a REALTOR®
By DJ Morris, real estate agent, Jupiter, Fla.
This blog post seemed to resonate the most with my audience and has gotten the most views, likes, and shares on social media. One of the key takeaways being a real estate agent is such a great profession is that it’s well suited for those who consider themselves a “people person.” Secondly, the real estate business is filled with independent contractors who have the flexibility to run and control their schedules and time away.
There isn’t a salary for real estate pros, and the money coming in can fluctuate drastically from month to month — these factors should be considered before you dive in and get your real estate license. However, for me, personally, there are many things that I love about having a career real estate, and you’ll learn all about them in this blog post.19. How Can I Sell My House Fast?
By Lynn Pineda, real estate agent, Coral Springs, Fla.
“When a homeowner decides that it’s time to sell their home, they usually want to sell their home fast and they don’t want it to languish on the market for months on end. With this in mind, I find that one of the first questions that a home seller will ask me is: ‘How can I sell my home fast?’”
As a Southeast Florida real estate agent serving customers from Coral Springs to Boca Raton, I want my real estate articles to be a huge benefit to my readers and customers, which is why I thought this article would be the perfect topic of discussion. I knew that this frequently asked question needed to be answered. I jumped right in with my reader’s end goal in mind to tell them just how to make it happen.20. Real Estate Professionals Who Help With Selling Your Home
By Paul Sian, real estate agent, Cincinnati, Ohio
When it comes to selling a home, it takes a team of professionals to get the house from initial listing on the MLS to the closing table and sold. When a seller chooses a professional real estate agent to help list his or her home for sale, they are not only going to work with you, the agent, but will also be working with a number of other professionals like the appraiser, home inspector, mortgage lender, and title company. If some of these professionals go missing at some point during the home sale process, it is very likely that the home sale will grind to a halt.
At the very start, you will be the one guiding your clients through home staging tips, preparation for the sale, and pricing suggestions. Without a you, the seller is faced with doing everything alone, or perhaps relying on general advice from websites on how best prepare a home. For such a large dollar value transaction, putting all their trust into the internet for advice may not get the seller’s home sold. So, in this article, I introduce potential sellers to the real estate professionals who will help ensure that a home is sold successfully.21. 5 Seller Mistakes that Could Sink Your Home Sale
By Justin Havre, real estate agent, Calgary, AB
Selling a home is something most people do at one time or another — and it may seem like a simple thing, but we as real estate pros know it’s not.
In this blog post, I share five BIG mistakes that can put the brakes on a successful sale, or at the very least, cause the home to sell for much less than it should. Factors such as listing price and flexibility, upgrades prior to selling, and of course, following (or not) the advice of your agent before and during the sale, can all have a major impact on the selling process. Mistakes can be avoided if one knows beforehand what actions to take, and what to avoid when selling.22. First Time Home Buyer Tips
By Gary Ashton, real estate agent, Nashville, Tenn.
Love is a splendid thing — especially for first-time home buyers when they find that “perfect” home. But love can be deceptive, leading you toward a home-buying hardship.
First-timers often make mistakes, and are more prone to being led astray by their emotions (as any buyer can). How much can we spend? Where and how do we look for a new home? And what does home ownership really cost? All great questions that are easily answered in this article offering top tips for becoming a first-time home owner.23. What Affects My Mortgage Interest Rate?
By Kris Lindahl, real estate agent, Blaine, Minn.
Are your clients planning to buy soon? Then they should pay attention to those rising mortgage interest rates!
The mortgage interest rate will likely have a big impact on how much home your clients will be able to afford. It might even have a bearing on whether or not your clients are approved in the first place. Mortgage interest rates are influenced by many factors, with some factors being entirely within your clients’ control, while others are not. So, when it comes to buying a home, location is important, but paying close attention to, and understanding mortgage interest rates is equally critical for your clients.24. Are Tiny Homes a Wise Investment?
By Anthony Gilbert, real estate agent, Snoqualmie, Wash.
We’ve all seen the reality TV shows with new buyers falling in love with their cozy and efficient spaces. But, are “tiny homes” really worth the hype? Are they a wise investment, or a financial misstep? These tiny homes aren’t necessarily cheap. In fact, depending on the construction, and if they’re movable, not only can they be vastly more expensive to build on a square foot basis, but maintenance is of concern as well … not to mention, resale value. Whether the move to a tiny home is a lifestyle choice, or a financial decision for your clients, all prospective tiny home buyers should weigh the pros and cons before proceeding.Ryan’s Picks: 25. Tech Trends to Embrace in 2017
By Lee Davenport, real estate trainer, Atlanta
If you’re not already embracing tech changes in the real estate industry, you need to start now or you will be left behind. Between drone photography and video marketing, the world of real estate marketing is moving at an incredible pace, and Lee points out where it’s headed.
Virtual reality is going to be a technology that allows consumers the convenience of not having to leave their house in order to walk through someone else’s home. There are a number of businesses coming out with VR tours and other types of 3D imaging that allows buyers to walk through homes that may not even exist yet.
Big data and smart home technology are another couple of trends that Lee points out as being innovations that agents should embrace. The article is spot on. For all you techies out there — drop us a comment below with some of the technology you’re using today to improve your business!26. User Experience the New SEO
By Erica Christoffer, manager, Broker to Broker for REALTOR® Magazine
This article is near and dear to my heart because of the accuracy by which it details how important user experience is to SEO, even though no one wants to admit it (especially most SEO gurus). Erica does a great job going into detail on what is most important for user experience.
User experience is a constantly evolving and never-ending for those who market their businesses online. You should constantly be testing your website, and put yourself in the shoes of the “user.” Would you use your own website to search for homes, or would you go to a national website instead? Be honest with yourself.
If you can provide value to your users/potential customers that another website cannot, you can be sure they will be back to your site27. 10 Deadly Home Buying Pitfalls
By Kevin Vitali, real estate agent, Middlesex, Mass.
It’s fairly easy to make a mistake when buying a home. Whether it’s your first time or your fifth time, a home is a large investment so you want to make sure you avoid all the likely buying mistakes. This will significantly reduce the chances of you regretting the investment, or worse, buying a money pit.
In his article, Kevin touches upon some of the most common home buying mistakes and what consumers need to watch for.28. 5 Kitchen Design Trends
By Melissa Dittman Tracey, contributing writer/editor at REALTOR® Magazine
In Melissa’s article, she points out that when you’re looking for ideas to improve your home, it only makes sense to look at what builders are using in their model homes.
In the kitchen specifically, look at materials that work well together. In this case, Melissa points out that contrasting materials can help make the colors pop along with some decorative lighting. Adding more transparency, storage, and more drawers rather than doors are all a part of the trend happening in model homes. Using glass doors instead of cabinet doors can showcase what the homeowners are passionate about.
By Alexis Craig
Why are so many digital marketing companies saying that prospecting over the phone is dead, while they try to sell you over a cold call?
I don’t care that my mom likes to ignore my calls, prospecting on the phone isn’t dead. It can be an effective sales channel when used right. The problem is that most agents are still prospecting on the phone like it’s the 1950s. They use scripts that my grandpa used.
Inbound marketing—things like SEO and content marketing—work well because it allows people to come to you at their convenience without interruption. If you could use the phone while accomplishing the same goals as inbound marketing, then you’ll increase your business and close more sales.
Today, we’ll look at the three mistakes that every agent makes, ensuring your phone calls don’t produce any results. But before we do, I want to get into how you need to be thinking about phone calls.
The Psychology of Calling
People are busy. Everyone, including you and me, is running around like a chicken with their head cut off. We have a huge list of things to do: pick up the kids… call Tom… build a multi-million dollar business…
Talking on the phone takes a lot of work. We have to put all of our focus and effort when we talk to people. That’s why we hate talking on the phone nowadays—it means we have to stop what we’re doing to talk to you.
People don’t hate talking on the phone. Whoever says that doesn’t understand reality. We’ve just packed our lives so full that we feel like we don’t have time to take a phone call. That’s why texting or emailing is often preferred—people can do it while they’re multitasking.
If you want to be effective with your phone calls, you have to do two things:
Make sure your phone call isn’t interrupting people and they expect it.
Get people to value taking your phone call to the point they are willing to sacrifice time on their projects.
Mistake One: Calling Cold
Never. Ever. Call cold. By cold calling, I mean someone you aren’t connected with in some way and isn’t expecting your call. There is no advantage to calling cold and is almost never received well. How do you feel when a complete stranger calls you?
You need some sort of introduction or referral if possible. If you’re calling a friend of your client, this is okay. Your client gave you their information and you have a warm introduction. But a lot of new agents like to call FSBOs without any warning. How do you think these homeowners feel when they get 20 other calls?
I know. You’re probably saying you don’t have a warm connection. That’s fine. Introduce yourself first with a sales letter. I watched my conversion increase when I did this with open house leads. Before, I use to call open house leads the day after the event. People often were short and snippy with me. I hated calling because it made me feel like a slime ball. Instead, we started sending emails the day after that thanked them for coming and told them I would be calling. This way, anyone who didn’t want to take my call wouldn’t, and I would talk to those who were willing.
Mistake Two: Getting Into the Pitch
This has to be my biggest grievance with people. A few months ago, I was interested in hearing from a digital marketing company built for real estate agents. As soon as I hopped on the phone, they immediately launched into their sales pitch without understanding a single thing about my business. They didn’t ask about my goals and where I currently am in business. They had no idea if I was a good fit for them or if their services could even help me. It’s a shame because I liked what they had to offer. I refused to buy from them simply because they had no idea if it could help my business.
It told me they were more interested in making the sale than building a relationship with me. They try to call every so often, but I have blocked their number. Selling from the start is rude and very disrespectful. Not everyone can and will use your product—that also goes for you as an agent.
Mistake Three: Alternative Choice Close
This is an old tactic and I’m still surprised to see scripts with this kind of close. It comes across as pushy. You don’t want to be seen that way in your business. Even if you manage to get an appointment from this tactic, it generally leads to high rate of “no-call-no-shows.” That’s because the prospect didn’t want it. They just agreed to do it so that they were polite.
Don’t try to trick people. If someone doesn’t want to schedule an appointment, move on. Part of being a successful real estate agent is adopting an abundance mindset and believing there are plenty of fish in the sea. Put your prospect in a follow up campaign, don’t be so eager to make the sale or get that appointment scheduled.
People don’t talk on the phone because they are busy.
Make sure your prospect expects your phone calls.
All calls should add value and focus on building relationships with your prospects.
By Sam DeBord
Excerpted from Sam DeBord’s contribution to the book “The Honest Real Estate Agent” (2016) by Mario Jannatpour.
This is the question that inevitably comes up for new real estate agents within their first few years of business. There are fees to be paid to the licensing agency, the brokerage, and the MLS, but what is the REALTOR® organization actually doing with my money? Why do I have to pay them every year?
It’s a fair question, and it’s one that often requires a lot of experience to fully answer. Many REALTORS® go through their entire careers without grasping it, which is a shame. REALTOR® membership is the foundation of our industry.
The Elevator Pitch
Real estate agents are busy people and they like quick explanations. So let’s start out with the two minute version of the value of REALTOR® membership:
- Being a REALTOR® will cost you a few hundred bucks a year. For that, you’ll receive protection: legal guidance to prevent lawsuits, and governmental advocacy to safeguard your current paycheck, your local market, your clients’ property rights, and your future paychecks.
- You’ll also receive business building benefits: education to expand your skill set, career guidance and tools to promote a more profitable business model, and an association with the industry’s top professionals for networking, referrals, and professional development.
Don’t step over dollars to pick up pennies. This is the essence of the value of membership. If a few hundred bucks is too much to protect and grow your business, your mindset is probably not going to allow you to be successful in real estate.
Hard work pays big dividends in this industry. The financial rewards are one of the main reasons we’re attracted to it. The price of REALTOR® membership is miniscule when compared to benefits it provides, and the potential income available to a member.
Notice that the Multiple Listing Service wasn’t mentioned in the elevator pitch. That’s because the REALTOR® association provides so much more. Its value is immense even if the MLS weren’t a business tool provide by some of its boards.
That being said, if your REALTOR® board does provide an MLS, the value is immediately clear. The MLS is the basis for a transparent and open marketplace for our clients and ourselves. The data sharing between brokers, and rules of cooperation, make for a business atmosphere that provides certainty for its members and better choices for all.
People often confuse the new national advertising portal websites with the MLS. While they both may display listings for sale, they’re significantly different. The MLS provides enforcement so that agents and customers have a framework for fair and ethical practices. It ensures that brokers advertise and pay commissions to cooperating brokers.
Without the MLS, we’d live in the Wild West of past real estate days. New agents may not know, but the REALTOR® organization was created to stop unscrupulous salespeople that dominated real estate sales over a century ago. The National Association of REALTORS®, and eventually the MLS, have set the standard for professional, licensed representation and a smoothly-flowing transactional market available to any consumer.
REALTOR® associations offer services to their members that are often highly valuable to newer real estate agents. Education classes catered to new REALTORS® focus on learning much more than is taught in licensing courses. REALTOR® classes teach members how to run a business.
Courses cover transactions, forms, lead generation, marketing, and financial management. Other benefits can include discounted services, technical support, or a legal hotline. There’s also significant legislative advocacy that helps the newer agent work with clients without the fear of unnecessary liability.
NAR also has a Code of Ethics that members are required to abide by. This isn’t a fluffy list of ways to be nice to those we work with. It’s a detailed set of standards of practice that tell members how to ethically work with each other and the public. It raises the level of professionalism in the industry and creates a standardized foundation for us to work upon.
What did REALTOR® membership do for me?
Those of us who are heavily involved in our local, state, and national boards see how REALTOR® membership improves our businesses every day. We’re trying to do a better job of helping newer agents understand it.
Here’s just one way that I can say REALTOR® membership directly influenced my career:
When I started out in the real estate business, my biggest fear was probably the same as many other agents’: “What if they ask me how many homes I’ve sold?” There was an almost inescapable fear that every new client I met would find out that I hadn’t been selling for very long, and abandon me for a more experienced agent.
Being experienced in real estate is a big advantage. If you’ve really never sold a home before, it’s okay to tell your clients, “I’m working with my managing broker on your entire transaction. He/she is backing me up and will be reviewing everything in the contract to make sure we keep your home purchase/sale stress free.” To be honest, if you haven’t written many contracts yet, there’s really no excuse to not have that mentor as a second set of eyes.
There is no way to speed up the length of time you’ve been working in the industry. There is, however, an easy way to increase the depth of that experience.
Consider this response to a client’s question about experience:
“I’ve been serving this community’s REALTOR® board government affairs committee as well as selling homes here for a couple of years. I’ve helped a half-dozen clients sell so far this year, while also working on a task force that’s helping to ensure fair foreclosure practices and to secure property rights for our local homeowners.”
Working with a local REALTOR® board is one of the fastest ways to achieve a wider range of experience, and contribute to your community at the same time. It shows potential clients that you’re trusted by the public as well as your industry associates. It greatly increased my confidence as well as my knowledge and respect level within the industry.
You’re not just a salesperson. You’re a business person, and a community leader.
Local boards are always searching for new volunteers from their member base. Don’t be intimidated by the names or the experience levels of the committees. You’ll be surprised how much appreciation new members receive when they commit to more influential roles within their local organizations.
Being associated with the folks at the local, state, or national level can even be (Dare I say it?) fun. Some of my best friends in the industry are those that I’ve met at REALTOR® association events. They’re a good source of referrals, but also a great network of people to congregate with at conferences and meetings.
Give your local board a call, and add a title or two to your e-mail signature. Government affairs, social media, property rights, information systems, communications, education−there are a plethora of opportunities.
Fast-track the depth of your experience, and you’ll quickly grow your credibility within the industry, as well as your confidence when communicating to potential clients.
Many people hear about government or politics and they tune out. If you really want to know where your dues pay you back, though, you need to understand NAR’s lobbying efforts.
We are involved in politics to enhance your ability to grow your business, to protect the income that you’ve earned, and to ensure your clients and your community retain their property rights.
That fact that NAR is involved in political races makes some uncomfortable. That’s ok—you don’t have to personally be involved, but you have to understand what the organization is doing. In our political world, if you’re not at the table, you’re on the menu. Our trade organization is making sure our voice is heard.
Politicians who understand little about real estate attempt to write disastrous legislation for our businesses and for our clients every year. We support candidates from the major parties at about a 50/50 rate, because that’s how often legislators from each side are right or wrong on our real estate issues.
NAR’s advocacy is the firewall protecting our industry. It might sound surprising, but bills are written every year that would seriously handicap our members and our clients’ ability to buy and sell homes. NAR’s lobby exists so that you don’t have to hear about them if you don’t want to—they just get fixed. We are not aligned with any political party because we are only focused on real estate issues. A significant portion of every REALTOR®’s take home pay is due to our lobbying efforts on an annual basis.
A few hundred bucks—what do I get?
It should be clear by now that REALTOR® membership is valuable. From legal guidance to education, advocacy, tools, protection, and networking, it is worth far more than the cost.
Now you know. Get out there and sell some real estate. Wear your REALTOR® “R”. Be proud of your association and what it’s doing for your clients and your industry. Join your board as a volunteer leader. Enjoy the ride.
Sam DeBord is managing broker of Seattle Homes Group with Coldwell Banker Danforth, and President-Elect of Seattle King Country REALTORS®. You can find his team at SeattleHome.com and SeattleCondo.com.
By Nico Hohman
The Golden Rule: We all know it; we all grew up learning it in elementary school. “Do unto others as you would have them do unto you.” Or, in layman’s terms, treat others the way you would want to be treated.
While the sentiment behind the Golden Rule means well, I’m here to tell you that it isn’t the best rule to follow.
The Golden Rule is wrong — and it’s wrong in a very specific way. It doesn’t take into account the other people you are dealing with. It equates everyone as if they are the same. It doesn’t differentiate between extroverts and introverts. It doesn’t classify people based on their communication preferences. And, it assumes that everyone is like you.
Clearly, everyone is not like you. (If everyone was like you, the world would not have any issues or conflicts and everything would get done on time and in an orderly fashion. It would also be a bit boring.)
Would you treat an extrovert the same way as an introvert? Would you communicate to two people the same way if one responds quickly to texts and the other person likes talking on the phone?
Instead of the Golden Rule, use the Platinum Rule.
The Platinum Rule says that you should treat everyone the way they want to be treated—not the way you want to be treated.
The Platinum Rule is better than the Golden Rule because it forces you to know the type of person you’re dealing with. To know how someone wants to be treated means you have to have to communicate with them and get to know them first. Just because you like to socialize and chat with people about their weekends before talking about business, doesn’t mean everyone else does.
The Platinum Rule philosophy tweaks the Golden Rule thinking in order to find out how the person you’re dealing with likes to be treated. If they are a straight-to-business person, you’ll want to think about adopting that strategy to best serve them and not yourself.
Some people may say that you would just be mimicking the other person if you adopt this strategy, and that people can spot a faker a mile away. I disagree. I believe if you get to know the other person before you do business with them, this puts you in the driver’s seat. You can control the conversations and the negotiations because you know how the other person will reciprocate.
In my experience, the Golden Rule is no longer the best rule of thumb to practice when dealing with other people. The best rule to follow is the Platinum Rule. So, stop treating others the way you want to be treated, and start treating others the way they want to be treated.