On today’s podcast, we’re joined by Cole Harvey, a seasoned Real Estate Broker experience in residential sales, investment properties, and luxury estates. As the Broker of Record at Lifetime Realty and Investments, Cole serves all of Southern California, bringing a personal, hands-on approach that has earned him a loyal client base. His expertise extends to distressed properties, Short Sales, and REO transactions, helping clients navigate complex situations. With a background in sales, marketing, and project management in the architecture and construction industries, Cole’s diverse experience makes him a trusted guide in the real estate world. Listen as Cole his best advice to agents and Brokers who would like to grow their business.

Over the course of 6.5 years Dionne Malush and Mike Hanlon have cultivated a thriving team of over 200 agents, fostering an environment of growth, learning, and resilience. Dionne, a graduate of the Art Institute of Pittsburgh, has blended her expertise in graphic design with her real estate acumen to craft a unique and dynamic approach to the industry. Mike transitioned from a decade-long career as a chiropractor to real estate, bringing a fresh perspective on personal fulfillment and financial freedom. Together, Dionne and Mike champion an abundance mindset, learning from mistakes, and continuous improvement. They understand the intricacies of scaling a business, making strategic hires, and aligning team members with the company’s vision. Their complementary skills—Dionne’s creative marketing strategies and Mike’s operational expertise—have revolutionized how real estate is conducted in their region. Join us for a powerful and fun conversation!

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As we approach the end of summer, many listings might still be lingering on the market. Currently, two-thirds of listings in the U.S. have been on the market for over 30 days, and 40% have been on the market for over 60 days. We're seeing more listings and less activity on the sales side, leading to a buildup of inventory and a shift toward a buyer's market.

If you have a listing that’s been on the market for a few weeks with little activity, try this script:

"Hey, Mr. and Mrs. Seller, this week I’m refreshing all my listings. Here’s what that means: I’ll be updating the lead photos so your listing looks new in the MLS. I’ll also revise the property description and review all the data points to ensure everything is accurate.

I’ll also schedule a 'meeting the market' to discuss any potential improvements to the listing. This meeting involves considering any incentives we might offer buyers or buyer’s agents. For buyers, we could consider...

So, how are you going to communicate your buyer agent commissions now that the MLS policies have changed?

We can’t list them in the MLS anymore, and agents and offices are coming up with different approaches. I want to share one of my favorite ideas that I’ve seen a few offices implement.

One office is using a Google Sheet—a live, online spreadsheet. The Google Sheet lists all their property addresses in one column and the corresponding buyer agent commissions (BACs) in another. It’s simple but effective. Since it’s a live document, you can update it in real time. The sheet generates a URL, so anyone with that link can access it and see the current BACs.

Now, here’s the cool part: With that URL, you can create a QR code using any free online generator. Attach the QR code to your marketing materials, and when someone scans it, they’ll be taken directly to your Google Sheet with all the BACs. As you add or remove listings, the document updates...

How many of you are using cold emails to reach out to neighborhoods or farm areas?

If you’re not doing it yet, it’s something you might want to add to your toolkit. You don’t need to send thousands of emails—maybe just 50 or 100 at a time. Keep it manageable.

You might be wondering, “Jim, where do I find these email addresses?”

There are plenty of places to find them. One of my favorites is REDX. They often have email addresses for homeowners in certain neighborhoods. They might not have them all, but they have a surprising number. Once you have those email addresses, you can send out emails to solicit listings or at least start a conversation about potential interest in selling.

Here’s an idea: use the same script you’d put on a postcard or mailing and adapt it for email. Then, take an integrated approach—send both the physical mail and the email. You can also add “layers” by sending a text and running a social media...

If you're a brokerage owner or team leader, what's the number one reason someone would join your firm?

Often, when I talk to brokerage leaders, they say it’s all about commissions—that’s the driving factor.

But that’s not true. We need to move away from that outdated thinking.

What really drives agents to join a company or team is the potential to close more transactions.

It’s about transaction count, not commissions.

So, how do you build a company or team that focuses on generating leads and helping agents develop leads on their own? Your goal should be to increase each agent’s transaction count, making them one of the highest-performing in your market area.

Here’s an interesting statistic that might surprise you: 50% of all agents in America closed one deal or less last year.

Even if those agents are getting a high commission on that one deal, it’s not enough to support their families. They’re struggling and barely staying in...

Here's an interesting question I was asked recently:

What is your unique genius in the real estate industry?

If you're a brokerage owner or team leader, I really want you to think about this. What's your unique genius? What sets you apart? What are you exceptionally good at? That specific thing is what you should lean into when it comes to recruiting and building your company.

Maybe you're great at investments and have built a large investment portfolio. Maybe marketing or social media is your strong suit. Perhaps you're an expert negotiator or a fantastic listing agent. Whatever it is, figure out your unique genius in this market and industry.

Then ask yourself: How can you leverage that strength to inspire others to join you?

What you're doing is creating a category of one—something you're so good at and so different in that people want to model it. This helps you create what Seth Godin calls the "purple cow." A purple cow is someone doing something completely different from...

How many agents have contacted you—called, texted, emailed—in the last 30 days to say they want to work for you? If that number is four or five, or even more, congratulations! You're in a position where you're attracting agents to your company. That’s a rare position to be in, and not many offices can say the same.

But if you're not attracting a lot of people, the question becomes: why not? There could be many reasons, but the number one thing we need to focus on is building a company that is attractive.

It sounds simple, but it's not. There are many factors involved. Agent productivity, the training and education you offer, and how your company appears from the outside all matter.

Do you have a great culture?
Are your agents engaged in the community?
Is your company active on social media?
Do you have a YouTube channel?
Do you have a great office environment?

Being a visible leader in the MLS and the market helps too. Your agents should be out there, talking...

Want to know the number one mistake new brokerage owners and team leaders make?

Focusing on recruiting new agents.

When we enter this industry, we often have an ego, thinking we can coach and train people to be super successful. We have a passion for training and coaching, which leads us to believe we should direct that passion towards new agents.

But here's the problem:

There's an 87% attrition rate in our industry.

This means almost nine out of ten new agents you recruit will fail. You might think you can change that, but this number has been consistent over the last 30 years. It doesn't matter how good a coach or trainer you are, how good your brand, systems, CRM, website, or lead generation are. It's about what the new agents implement. No matter how good we are as mentors, some of them just won't take action.

All that being said, we were all new agents once. But those of us watching this today are part of a very small minority—the 10% who made it. And within that group,...

Hey guys, as a team leader or brokerage owner, there's one key metric that defines your success:

Per agent productivity.

This metric encompasses every aspect of your role as a brokerage leader. It includes your recruiting plan, retention plan, marketing, branding, technology, training, coaching, mentoring, staffing, and location.

Essentially, everything you do at your brokerage is reflected in what your agents produce on a per-agent basis.

When I come to you and say, "Let's open up the hood of your company," we'll look at the average agent production over the last 12 months. What does it look like? If your average agent is closing six deals, seven deals, eight deals, three deals—whatever the number is—you'll have a starting point.

Our goal is to raise that number over time. The higher we push that number, the more likely you are to attract more agents to your business.

The number one way to attract agents is by demonstrating that your system drives higher sales than your...