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...

When somebody hears the word “real estate” in your market, what do you think comes to mind?

For most Americans, it's instantly Zillow. They've taken over this position in consumers' minds, being the first place they go for searches and home values.

So, how do we compete against a billion-dollar company?

A lot of you have given up and said, I'm just going to start buying my leads from Zillow. Keep in mind that's a negative 32% ROI, meaning for every $10 spent, you lose $3.20.

So, how do you win against Zillow and take over “Mindshare” in your local community?

You can't do it entirely, but it'll come from getting close to your consumers and your community.

Why?

Zillow can't create relationships with specific people in specific communities. But you can… by developing relationships with your own audiences, showing expertise, and connecting with local businesses and charities. Highlight why you love your community through videos and social media.

When...

There's a fantastic book I read years ago called "Positioning" by Al Ries and Jack Trout. It delves into the concept that our brains, like a whiteboard, need a space. As marketers, our goal is to occupy that space in the consumer's mind. However, with numerous competitors in the market, the challenge is stiff.

I appreciate the idea that it's not about what we want to say; it's about what consumers want to hear and learn from us. Consider the top four things consumers seek from a realtor: finding the right home, assistance with paperwork (part of negotiation), negotiating price, and negotiating terms.

Reflect on these four aspects—finding the right home, negotiations on price and terms, and paperwork. Are we addressing these in our marketing and branding? Shift from what we want to say to what clients want to learn. This transforms marketing into something people want to pay attention to.

Now, let's consider what sellers want. The top four things a seller desires: an expert in...

Hey everyone, I've got a question for you:

What are your standout moments when working with buyers?

It's vital to consider the service aspect of our job: Service is what we do for our clients, while hospitality is about how we make them feel.

We are essentially in the hospitality business, aiming to create emotional, “WOW” experiences for our clients that leave them saying, "Wow, I can't believe what you just did for me."

These are the moments that lead to referrals and repeat business.

Let me share three examples of “wow” moments that can enhance your buyer representation business.

First, implement a pre-meeting questionnaire: Just like when you visit a doctor, send your clients a short questionnaire ahead of time. Let them know it will help you serve them better. If they don't complete it, suggest arriving 15 minutes early to the meeting to fill it out. This simple step can improve your...

Are you actively farming your own neighborhood?

It's a straightforward marketing strategy that many agents overlook. So, why should you consider farming your own neighborhood?

Well, it all comes down to the fact that people prefer doing business with those they know, like, and trust, especially when they share a common bond.

When you live in the same neighborhood, potential clients are more inclined to choose you as their REALTOR. However, this won't happen if you're a "secret agent" – someone they don't even know lives nearby and can serve them.

To get started, you need to establish yourself as a local expert.

How?

Begin by introducing yourself through a letter or postcard. Let them know you're a resident and express your interest in being their preferred REALTOR. Share your credentials and accomplishments to give them confidence in your abilities.

Next, demonstrate that you're an active agent....

I want to help you become the go-to expert in your market.

You should aim to be seen as the trusted authority that people turn to with their real estate questions. To achieve this, you need to consistently share information and content about the real estate market.

Let me share an example of a script I recently created for our agents in our coaching program. This script focuses on national market statistics that you might find valuable:

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First, let's talk about inflation. You may have heard that inflation has recently risen to 3.7%. One common question I receive is, "How does this affect the real estate market?"

Well, the most significant impact has been on mortgage rates. Mortgage rates have climbed to the mid-sevens, almost hitting 8%. This has caused some potential buyers to hesitate. However, there is some good news:

Surprisingly, we are still selling approximately 91% of the number of homes we sold...

I've got a hypothetical scenario for you:

Imagine a buyer walks in and says, "I want to buy this specific house. We've found it online and want to pay you directly. Convince me why your fee, whether it's 2%, 2.5%, 3%, or whatever you charge, is worth it. What value do you offer beyond finding the house?”

Remember, they've already found it. This is crucial for buyer representation. Let me share some ideas about this, drawn from my experience teaching the Accredited Buyer's Representation (ABR) class for NAR for a decade:

Let me guide you through building value. When working with buyers, start using this language: “You know, finding a house is surprisingly straightforward. My real work begins once we've found the house.”

It's crucial to show that the house hunt isn't the challenge; anyone can do that.

Then continue:

“But what I do is special. Here's what I do: First, I conduct thorough research on the house. I...

I've got a story from my trip to Boston with my wife. While our son was in summer camp, we embarked on a delightful foodie tour of Little Italy, guided by an amazing teacher turned tour guide. He shared the rich history of the area, led us through fantastic shops, and treated us to mouthwatering cuisine. Toward the end, he pulled off a brilliant move relevant to your real estate efforts.

As we basked in the afterglow of a satisfying tour, he proposed a group photo. After the snap, he asked, "Who wants a list of all the restaurants we visited today? Just give me your email, and I'll send it over."

We all gladly obliged. Upon reaching home, his email contained the promised picture and the tour's culinary highlights. Here's the genius part: he added a well-placed plea for a review, taking advantage of our post-tour excitement. We promptly provided a glowing review.

He went further, offering even more value. For...

Why aren't you getting more referrals?

The problem is you're not asking for referrals. You think you are, but you're not.

Let me give you a natural and fun way to ask for referrals that people love:

Think of your sphere of influence as your personal sales army. Imagine you recruited a hundred or more salespeople to work for your team. If you gave them an assignment, do you think they would bring you sales?

Of course they would. The reason they're not doing it now is because you're not giving them guidance as the sales manager.

So here's an example of what you can do: Send a mass text, email, personal calls, or even a video text to your sales army, saying:

“Hey guys, I'm really short on inventory right now. If you see a house with a preferred sale sign or a vacant house, could you quickly take a picture and send it to me? It could give me an edge in getting that listing. Thank you!”

Another idea is to...

Hey guys, I want to share two real estate opportunities that many agents are overlooking:

The first opportunity is targeting the most likely seller in America - baby boomers aged 45 to 55 who are downsizing or right-sizing their homes.

According to a recent study, 10.4% of all listings will fall under this category.

Now, when these baby boomers downsize, their current homes may need some repairs or upgrades. Many of them may not have the money or the desire to fix them up, and that's where you can come in.

Reach out to these homeowners and ask if they would consider selling their homes without having to do any repairs or upgrades. Let them know that you are working with buyers who are willing to put some sweat equity into the property. This messaging will resonate with many of these sellers who are looking for convenience.

The second opportunity is to capitalize on the decline of iBuyers in the market.

Many iBuyers have gone out of...