Hey guys, when you meet someone new, whether it's at a party or a function, one of the first questions they ask is, "What do you do for a living?"

Our default response as REALTORS might be, "I'm a REALTOR."

But that's boring and generic. Everyone knows multiple REALTORS.

We need to rethink how we present ourselves and craft a unified message that leaves a lasting impression. We need to occupy a unique space in the minds of potential clients.

Imagine the brain as a whiteboard with "REALTOR" already written several times. It's meaningless and makes us seem like just another commodity. We must find a new space to occupy.

Here are some examples:

1. "I specialize in riverfront and rural properties in southern Oregon. With 30 years of experience in this market, it's my passion."

2. "I focus on helping people buy homes in the highly desirable Summerfield area."

3. "As a relocation specialist with John L. Sky Realty, I...

Guys, you've probably heard about the class-action lawsuits targeting realtor organizations, MLS groups, and large franchises.

The plaintiffs claim that they were unaware they were paying both their own fees and the buyer's fees. The lawsuits aim to either eliminate seller-paid brokerage fees or ensure transparent disclosure of these fees. While similar lawsuits have been filed in the past, these recent cases are gaining traction, resulting in settlements.

For instance, a New England MLS paid a 3 million settlement to resolve the issue.

This poses a significant challenge to our industry's business model, which has operated on the basis of sellers covering the REALTOR fees for decades. We may face a future where we have to approach buyers and inform them that they must pay their fees at closing and make a choice regarding representation. If they want me to represent them, we'll have a conversation, sign a document,...

Hey guys, I have a quick tip regarding Instagram's algorithm:

There have been some recent changes, and it's important to stay updated. Here are the key changes:

Firstly, they no longer recommend using 8 to 15 hashtags like we used to. Instead, focus on using 3 to 5 hashtags. However, the emphasis now is on creating better descriptions and captions. It's preferred to include the tags within the captions. So, start writing more compelling captions, and there are helpful technologies like ChatGPT that can assist in creating SEO-friendly captions.

Another important aspect is video content. Instagram prefers that you edit videos within the Instagram app itself, rather than using third-party apps and bringing them into Instagram. For instance, avoid creating a video on TikTok and directly transferring it to Instagram. Instagram sees TikTok as a direct competitor, so keep that in mind when producing video content.

...

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...

Did you know that one in seven US home investors lost money on their investment in March?

While I don't feel too bad for them, it's worth noting that profits are down for flippers and investors in the marketplace. And the reason for this is simple: holding costs are higher, interest rates have increased, and there's less inventory to choose from. So when a property that meets their criteria does come on the market, there's higher competition for it.

But as a REALTOR, you can help investors and be the person they turn to.

Let me share my personal experience:

Twice this week, I had different agents representing buyers call me. Their approach was interesting. They said, "Hey Jim, I noticed you recently purchased some real estate investment property. I have an investor myself who's looking to buy something. Do you have anything that you're holding that you'd be willing to sell now that you've bought some other...

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...

I recently learned a great secret about social media advertising from Gary V's head of marketing.

This strategy brought them a 160x return on investment, so it definitely works. Typically, we as business owners focus on creating the most creative and visually appealing ad, as well as targeting the right audience.

However, we often forget about engagement, which is the third important component...

The algorithm watches for engagement, and when it sees it, the algorithm promotes the post to more people. This is why some ads are successful and some aren't.

One way to "juice" engagement is to start with a core group of advocates and ask them to comment on the post. We can also ask our sphere of influence for help. We can say, "Hey guys, please comment on my ad if you like it. Let me know what you think."

Most people who are close to us are happy to help.

Engaging with comments is important. We should respond to...

I recently heard a great story about a real estate agent who moved to a new market and didn't know many people. She knew it would be challenging to succeed without a sphere of influence, so she came up with a brilliant strategy:

She researched the top 10 things people want to do in the area and created a video about each of them. She then posted the videos on YouTube and TikTok, and connected them to her website and blog.

By doing this, she was able to reach a wider audience and get her name out there.

She also used Facebook and Google pixels to remarket to people who visited her website, and started putting ads in front of them.

This strategy paid off, and it paid off big:

She went from zero to 10 million in business in just one year!

If you're interested in trying this strategy, don't worry - it's not technical or difficult. Everything you need to know can be found on YouTube, and most of it is free. The only cost is for ads, but...

Do you have a hospitality mindset?

I heard two stories that really brought this home.

The first story is about a restaurateur in New York City who overheard a group of four customers talking about how they had never had a hotdog in New York City, despite just having a $500 lunch at his high-end restaurant. The owner of the restaurant went to a hotdog vendor across the street, bought four hotdogs, had the chef cut them up and arrange them elegantly on a plate with all the condiments the customers wanted, and had the maitre d' bring it out to the customers. They were amazed, even though they had just eaten a five-star meal.

The second story is about Steve Wynn, who owns the Wynn Casinos in Las Vegas and all over the world. He implemented a process where all managers have a daily brainstorming session before every shift, and one of the things they discuss is positive experiences they've had with guests.

One of the stories that...

I have a quick question for you:

Are you marketing your marketing?

You might be wondering what I mean by that, right? Well, let me explain: As real estate agents, we do an amazing job for our clients. We use drone photography, staging, postcards, social media marketing, and more to showcase their properties. We go all out to sell their homes in record time and get them top dollar.

But who actually experiences all of this marketing? Sure, the buyers who purchase the property may see it, as well as a small group of people in our closest network. However, not everyone is seeing all of our marketing efforts. In fact, on social media, only about 4-6% of our audience is actually seeing our posts.

So, how do we market our marketing?

One approach is to create a success portfolio. Whenever you have a beautiful, photogenic listing, go all out and create a home book, do exclusive videography, Matterport, and everything else....