Let's delve into the concept of "speed to lead" for a moment. Why is it crucial? Well, here are the stats:

Businesses that respond within five minutes or less are a hundred times more likely to connect and convert opportunities.

So when that clock starts ticking, you've got five minutes to respond to emails, texts, or calls. The reality is, generating a lead for a REALTOR today costs about $140 per lead. If you can't get back to them in five minutes, it's like burning $140.

Now, how can you address this lead follow-up issue? I'll share a couple of strategies, and they all revolve around Google.

First, consider your lead routing. Get a Gmail account, and with that, you'll obtain a Google Voice number for free. Google will assign you a phone number that routes to your cell phone. When it rings, you'll instantly know it's related to a lead. This can save you from wondering if it's spam or something important.

Additionally, you can set up a...

How many referrals did you get last week?

If you received none or just one, you might be wondering, "How can I get more?"

Well, here's the secret: To get more referrals, you need to start by sending more referrals. It all begins with the concept of giving. When you give generously, the power of reciprocity comes into play, and you'll start receiving more referrals.

As REALTORS, we often act as real estate concierges, with a network of contacts at our fingertips. When clients ask for recommendations, it's common to say, "You should use my friend John for that. Let me send you his number." However, this might not be the most effective approach.

Instead, consider this value-added strategy to increase your referral potential. Say, "I have an excellent gardener who does exceptional work and offers my clients special deals. Would you mind if I give him a call and have him contact you, so he knows the referral comes from me?"...

Let's consider your office location: If you were to drop a pin on the map around your office, extending 2 to 5 miles, have you connected with local business owners in that area?

Many business owners are facing challenges due to economic changes and other factors. It's an excellent opportunity to reach out to them and establish a connection.

Here's a simple approach: initiate a business card exchange. Walk into a nearby business and introduce yourself. Mention your office's proximity and express your interest in referring people who are new to the area. You can say, "I often meet people relocating here, and I prefer to refer local businesses. Would you mind exchanging business cards?" Allow them to share information about their business.

You can further enhance the connection by saying, "I like to highlight a local business on my social media each week. Would it be okay if I featured your business next week and tagged...

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...

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...

Guys, 60,000 agents have already left the industry, and another two to 300,000 are projected to follow.

But here's why it's good news for us as REALTORS:

Each departing agent likely had one or more transactions last year. As they leave, those opportunities come back into play, and we have the chance to handle them as real estate professionals. So we can expect to get busier with each agent's exit.

However, there's an even bigger opportunity that most agents are overlooking:

Every agent who leaves the industry leaves behind a sphere of influence, a network of family and friends who may have some influence that we can tap into.

Here's what you can do:

Reach out to these exiting agents and express your condolences about their departure. Then ask them a quick question: Would they be interested in monetizing their hard work by earning referral fees? Since their license is still active, they can leave it hanging and...

If we look at the engine of your business, it's your sphere of influence.

Statistically, for every 10 people in your sphere, you'll average one closed sale.

But that's only if you stay in touch with them 20 to 50 times a year and have a good relationship with them. So let's go back to January 1st. Do you know how many people were in your sphere at that time?

If you don't, you don't have control of your business.

Now, fast forward to today. Have you grown your sphere of influence in the past six months? If not, your business may not be growing and could even be shrinking due to market challenges.

We can't escape market conditions by focusing on other things and neglecting our sphere. The key to changing your business's trajectory is to quickly increase your sphere of influence. You may be wondering how to do that. Well, here's a magic number to keep in mind:

The average American has 27 conversations a day. As REALTORS, we should...

Can you relate to this?

You meet someone at a party or an event, and you have an amazing conversation. You really connect and feel like you could become friends. But then they disappear, and you never hear from them again.

As REALTORS, we often miss the chance to expand our spheres of influence and grow our business by nurturing these relationships. Plus, we could gain some friends along the way.

But here's the secret sauce: The Ford Plus One technique.

You might be familiar with the Ford technique, which stands for Family, Occupation, Recreation, and Dreams and goals. Whenever you're talking to someone and struggling to keep the conversation flowing, think about these topics.

Ask about their family, their occupation, what they enjoy doing for fun, and their dreams and goals. But as good as that is, I want to add a plus one to this technique.

Why?

I want to find a way to add value to the conversation even after it...

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, June is National Home Ownership month.

This is a golden opportunity to reach out to all the homeowners in your database and provide them with a quick equity assessment.

Let's make the most of it! Instead of reaching out to one homeowner a day, let's aim for two or three. We can really make an impact this month. So here's the plan:

I'm going to use my favorite platform, https://www.narrpr.com/, which is free for every REALTOR.

It allows me to create a visually stunning, 81-page CMA (Comparative Market Analysis). But I won't just send them the paper CMA. I'll create a video using BombBomb or loom.com. In the video, I'll say,

"Hey, Mr. and Mrs. Jones, did you know that it's National Home Ownership Month? I wanted to provide you with an update on your home equity. There have been some significant changes in the market, and I want to keep you informed. So, here's a personalized report for your...