So the NAR settlement, what does it mean to you? What should you do today as an agent?

First of all, what does it mean to us?

Here are three big things it means:

1. Buyer comp is not going to show up in the MLS as of mid-July. If this is approved, it probably will be.

2. You're going to have to sign with your buyer a buyer representation agreement, which says how much you're going to get paid.

3. It's going to outline the fees that are going to be paid to you by the buyer. Now, that doesn't mean that the seller can't pay. This is the biggest misconception of this. Just because the fee is not going to show up in MLS doesn't mean sellers won't still agree to pay it. This is something specifically that was in the NAR proposal.

I'll read it to you:

The NAR said the proposal would allow sellers and their listing agents to continue offering compensation for buyer broker services. That's clear. It's just not going to show up in MLS.

So let's think about that now. How are you going to ...

With the NAR Settlement now in place it is critical for real estate professionals to be able to explain their value proposition, build trust and rapport, explain the benefits of buyer representation, and be confident in their abilities to talk about commissions. Join the conversation as Beth Matthews, a dynamic Real Estate Sales Professional and owner of Envision Real Estate walks us through her teams approach to talking with buyers and sellers, and the next level her team is implementing to ensure they only work with truly committed buyers!

In the real estate industry, there are two types of ghosts:

The first occurs when a buyer initiates contact but then disappears. It's common, but we shouldn't ignore it. Instead, we should follow up with these individuals after some time has passed. More often than not, they simply got busy, not because they disliked us or found another agent.

Reaching out with a call, text, or email is essential. We should inquire politely about their home buying progress. Even if they ghost us again, it's not a big deal. Let's not fear this type of ghosting and continue to pursue potential leads.

The second ghosting scenario involves us ghosting others inadvertently. It happens when we forget who certain contacts in our phone are. To address this, we should review our contacts and ask those we're unsure about to remind us of our connection.

By doing so, we might uncover opportunities we would have otherwise missed. Let's stop being ghosts ourselves and maintain connections with our contacts. Thes...

Last month, 32% of all transactions closed involved a cash buyer. If you stack up a cash buyer against a finance buyer, as a seller, which one would you prefer? Probably a cash buyer.

Financing has hurdles: the buyer has to qualify, the home has to qualify, there's appraisal and underwriting approval. So, if I had the choice, I would probably want to take a cash buyer.

But how do we incentivize this?

Most agents aren't having this conversation with sellers. Would you like to incentivize cash buyers to make offers on your house? Why? Because with a cash buyer, you're not dealing with qualification issues, low appraisals, or underwriting roadblocks. We can remove contingencies faster with a cash offer, which means we can speed up closing generally faster than with a finance buyer.

To incentivize those offers, you might consider giving a cash discount. What would you give? Maybe a 1% or 2% discount off the price. Let's be honest, with a financed offer, the buyer often asks for closing...

Hey guys, want to increase your referrals by 24%?

It's simple, and it comes from the American Marketing Association: When you ask for a referral and attach a reward to it, your referrals increase by 24%.

So, what rewards work best?

Cash, consumables like wine or coffee, right?

But here's the issue with consumables most people overlook:

They're forgotten once consumed.

That’s why I prefer giving experiences…

An experience sticks with you. It's memorable.

For instance, for a couple who refers a great client, I might reward them with a night out at a local restaurant. Personalize it with a note: "Enjoy this meal on me. Thanks for the referral!"

For a golfer, instead of a round of golf, a golf lesson; for a tennis player, a tennis lesson.

Or if they're into concerts, a music ticket; sports, a sporting event ticket.

These experiences are unforgettable. Find what resonates with them personally, and your referral count will skyrocket.

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Why do Brokerage Owners, Office Leaders...

Hey guys, let's talk about asking for generosity from your clients, specifically in the form of referrals.

I'm going to share two or three strategies that should feel natural to you because referrals are the number one way to generate business.

Remember, when people are going through a transaction, there's a four times greater likelihood they'll refer you because it's a natural part of the conversation.

So here's the deal: you've got to train them, you've got to coach them.

Try this scripting: "Now that you're buying or selling, I'm sure some of your friends are going to be jealous. If you run into somebody who wants to follow your lead, I'd love the opportunity to work with them." Simple, right? It doesn't sound salesy; it sounds natural.

Another approach: "Now that you're selling, I'm sure a few of your friends and family will be jealous. If they want to follow your lead, I'd appreciate your referral. I like working with people like you." It's about leveraging their network in a...

As we gear up for the bustling spring and summer real estate market, it's crucial to leverage our networks effectively.

How do we elegantly request referrals and direct business?

Enter the real estate resume strategy.

Just like crafting a resume for traditional employment, create a polished document highlighting your real estate expertise: experience, market performance, education, skills, testimonials, and office history.

Distribute this resume physically and via email to your entire database. Accompany it with a cover letter emphasizing your readiness for the busy season and encouraging recipients to share your resume with potential buyers or sellers. Keep it concise, yet professional.

This approach conveys authenticity and seriousness, distinguishing you from agents solely focused on humor or gimmicks.

By showcasing your dedication to your profession, you establish credibility and foster genuine connections. It's not just about being funny; it's about meaningful engagement. Th...

Hey folks, did you know 23% of homeowners in the US are planning to sell their homes within three years?

That's a massive pool of potential listings right in your community.

How can you tap into this "shadow inventory"? Well, here's a winning strategy: a personalized letter campaign.

You're already farming neighborhoods, right? So send out letters, but make them different this time. Start with a simple question: "Hey, Mr. and Mrs. Homeowner, is this the last home you'll ever own?"

It's a magic question because regardless of age, people always think there's another move ahead.

Then, explain that some of your clients aren't keen on listing publicly but would entertain offers from qualified buyers. Offer to chat if they're in that boat. Include your contact info, and keep it straightforward.

This approach will resonate with many homeowners who aren't ready for the market but would consider a strong offer. You'll start receiving calls, so funnel them into your drip campaign. Build th...

Why do people try FSBOs instead of listing with a REALTOR?

The answer might surprise you…

A lot would assume it's all about commission, but only 40% of sellers do it for that reason. That means 60% don't!

Another interesting fact: Only 5% of people will never use a REALTOR. The othere 95% are open to it.

In fact, did you know 92% of FSBOs will end up working with a REALTOR?

The question is: Will it be you or your competitor? You need to reach out to them. There's a 4-6 week incubation period for most FSBOs. So, commit to working with them for that time.

When calling them, use this magic sentence: "I'm not calling to list your house. I respect your decision to sell on your own."

This will bring their defenses down. Then, ask to come by and take a look at their house. No pressure to list. It's about incubation and relationship-building.

If they decide to list with you, be ready for that conversation. Walk through the house, take notes, and casually ask if they might work with a R...

Question:

Should you have your own podcast?

Absolutely!

It's a powerful tool to boost your influence and authority in your local market. By focusing on your niche, you become an expert and build authority over time.

Another benefit?

You can connect with influential people in your community. Create a list of top movers and shakers and invite them to be guests on your show. It's a win-win—you'll elevate your podcast's status and forge valuable connections.

Podcasting is straightforward—all you're doing is asking questions. Make it easy for your guests by providing a list of questions beforehand. Trust me, they'll love the opportunity to share their insights.

The best part?

You can repurpose your podcast content across different platforms using tools like Opus Pro and Repurpose.ai. It's seamless and helps you reach a broader audience.

As for the cost?

It's super affordable. Platforms like Buzzsprout make hosting a breeze, and services like Fiverr can help with intros and outros....