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This Buy-Sell Analysis Strategy Can Help You

Uncategorized May 02, 2022

 Help clients see that they’re trying to do things in the wrong order.

 

Have you ever had a seller say they want to buy a home before they sell, but you know they need to sell their home before they’re able to buy the next one? In that type of situation, I like to propose a buy-sell analysis and suggest that it can be done over the phone.

 

"Try to get in front of people when they want to do things in the wrong order."

 

First, I ask if they’ve ever heard of a buy-sell analysis. Usually, the answer is no, so I tell them, “It’s a bird’s eye view of the sequence of events that most successful home sellers and buyers follow to maximize the net proceeds from the sale of their current home while maintaining the best possible negotiation leverage when buying. It helps people avoid selling too quickly and ending up homeless or owning two homes at once and having double payments. Does this sound like it would be of value to...

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How a Timing Analysis Can Help Win Listings

Uncategorized Apr 19, 2022

How you can approach sellers who want time to think it over.

 

Have you ever been in a listing appointment where the seller says they want to think it over before they decide? In this market, we need to get listings now, so I want to share a simple way to handle objections like this.

 

If somebody says they want to think it over, ask them if they’re familiar with a real estate timing analysis. If they’re interested, say it’s a bird’s eye view of all the time frames it takes to sell, get your money, and move. Tell them it will help make sure they don’t have to move too quickly or change their plans last minute.

 

"Most people are months behind where they want to be, especially in this market."

 

This technique is simply bringing up something sellers are interested in but don’t know about. They are interested in it because they want to make sure they don’t move too quickly, or they realize that they don’t know about...

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When Should You Share Your Commission?

Uncategorized Apr 05, 2022

Before you talk commission, make sure the seller is sold on your services.

What should you say when a seller asks about your commission? Let’s back up first. Whether you’re talking over the phone or in person, make sure these four boxes are ticked before you talk commission:

 

  1. They are sold on you.
  2. They are sold on your company or team.
  3. They are sold on the price.
  4. They are sold on the timing.

 

If these criteria aren’t met, don’t share your commission. How do you avoid talking about your commission if the seller asks? If a client asks about your commission over the phone, say, “I don’t know. I haven’t seen you’re home yet. Let’s get together.” If they push back a little bit more, bring up other points. I say something like, “I’m willing to work for whatever we can agree to, but I need to know the price of your home, the time frame you want to sell in, and more. There’s a lot in play, so why...

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Are Unattainable Goals a Good Thing?

agent training Mar 22, 2022

Why setting unattainable goals may be more helpful than you think. 

Can setting unrealistic goals be good for your business? To help answer that question, I want to share a quick story about one of my coaching clients.

I started coaching David in the fall of 2020, and he’d been in the real estate business for about five years. The most he’d ever made in a year was around $60,000. I set him up with a game plan, and we set financial goals, which were much higher than anything he’d ever made. He did roughly 95% of what I asked him to do, and only two months into 2021, we had to readjust his financial goal because he was on track to blow the original one out of the water.

"When you set unattainable goals, you have to do the work."

That’s an excellent problem to have! We adjusted his goal so he could keep working toward it throughout the rest of the year. So are unattainable goals positive or negative? In short, it depends on your situation.

Most...

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Staying in Motion

agent training Feb 28, 2022

This slower time of year is when you should be staying in motion. 

Today I'll talk about the importance of keeping your real estate business in motion. I've heard a lot of different reasons why business has slowed, including winter, snow, cold, seasonal mood changes, low inventory, and high COVID rates.

If your business has slowed recently, understand that it’s so important to have the right habits and stay in motion this time of year. When things pick up in the spring, if you're already in motion, you’re already prepared. You'll be out there in front of people, and they’ll know who you are. It may take a bit more effort and time to do lead generation and prospecting, but it’s worth it because it will keep you moving forward.

"Lead generation and prospecting will keep you moving forward."

If you're not in the habit of doing this, start today. This is what top producers are doing. Make sure to schedule a time, because sometimes you won't get any new...

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Uncategorized Feb 08, 2022
 
Follow these steps to find out if you’re ready to hire a real estate coach.

Today I’m excited to take a deep dive into the four steps to get ready for coaching in your real estate business. Before we get to those steps, there is one question you need to answer for yourself: Do you need real estate sales coaching to improve your career? If your real estate business is not where you want it to be, you’re probably a great candidate.

Feel free to watch the full video, or use these timestamps to browse specific topics at your leisure:

0:00 — Introducing today’s topic

0:45 — Step No. 1: The books

4:05 — Step No. 2: Connect with coaches

4:43 — Step No. 3: Watch the trainings

5:12 — Step No. 4: Connect with a coach

5:45 — Wrapping up

When you’re at step four and ready for coaching, I’d love to schedule a call with you. If you need coaching and I’m the right fit for you, I’d love to work together.

If...

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How To Motivate Your Sellers

agent training Jan 24, 2022

Here’s how to light a fire under your fence-sitting sellers.

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For most areas, the spring market really starts the day after Christmas. People don’t actually put their houses on the market then, but that is when they start thinking about it. Many would-be buyers are having a hard time finding properties they want to move into because of the low inventory. In turn, many decide they want to wait until the spring to sell (in their minds, that’s around March and April). To combat that, we need to create a sense of urgency in our market’s sellers, but how?

There’s actually a process for this. Create a timing analysis that covers how much time it will take for someone to list and sell their home. Most people say that it takes around two weeks to get a home ready for the market, but I say double the estimated prep time to a month.

After the home is ready, we’ll...

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Valid Buyer Criteria, Part 2

agent training Jan 07, 2022

Here’s part two of my two-part series on valid buyer criteria.

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Today we’re covering the second half of my series on the 10 valid buyer criteria, where I talk about what qualities make for a good buyer to work with. If you haven’t seen it already, visit my last blog post to see the first five criteria discussed. Here is the second set of five:

6. They are not contingent on selling their home. This is a tough one because a lot of people depend on the money from their current home to buy their next one. However, there are ways of buying non-contingently. The ideal situation is to work with buyers who aren’t tied down to their own sales.

7. They’re willing to spend the time. Many people aren’t willing to spend the necessary time with you to sell a home.

 

      Pick the people you want to work with—pick your business.

...
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First 5 Valid Buyer Criteria

agent training Dec 07, 2021

Here are the first five of 10 criteria for working with a buyer.

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Today we're going to cover five of the 10 criteria that make up a valid buyer. If these criteria are met, you work with them. If they're not met, you just stay in touch with them until they’re ready. Learn which criteria they’re missing so you can educate them and move them in the right direction. Here’s what you need to look for:

1. They're willing to meet ahead of time. This way, you can explain how you work, go through the process, and set expectations.

2. They’re motivated. Determine if they’re motivated to buy a home.

3. They have a sense of urgency. They may be motivated by a home, but doing so may not be urgent for them.

4. They’re fully pre-approved. This can shave so much time off of their search and purchase process. You can get them to close faster, which makes them a stronger...

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Valid Listing Appointments, Part 2

agent training Nov 18, 2021

Here’s part two of my series on having valid listing appointments.

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Welcome to part two of my two-part series about valid listing appointments. To see the first four criteria of a valid listing appointment, watch the first video here. These are the final four criteria you need to know:

5. All decision-makers need to be present. I know that can be difficult, but they all need to be there. This isn’t just the people who are on the title; anyone who is helping to make decisions needs to be present. Friends, family, whoever it is, ensure they’re at least on a conference call or video call at the appointment.

       Everyone should be present for your appointment, even if it's on a conference call.


6. Schedule enough time for the appointment.
I typically schedule about two hours so that I have enough time to answer all their questions. When...

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