What can you learn from Guns n Roses about real estate?

My wife and I took a road trip recently and I took the time to download a book for us to listen to. I don't think she was too impressed in the beginning, but she learned to love it. It was a great book by Duff McKagan talking about his experience as the bassist for Guns n Roses.

We learned his crazy biography of how he got started with the band and what he went through in his life. One thing that he talked about, which really fascinated me, was when Guns n Roses was beginning as a young LA band. They would have to go out and meet with club owners and lounge owners to try to talk them into using them as a band.

In other words, they had to sell themselves. And something the lounge owners and business owners did was instead of just paying these kids to come in and play -- and if they were terrible, make their guests run out -- they would make the bands pay them to play in the lounge or the bar.

And so the classic exampl...

Have you ever heard of the aggregation of marginal gains? I hadn't either until I read a story about the British cycling teams winning the Tour de France. They never won the Tour de France before 2010. But their new coach, David Brailsford, challenged them to look at everything they're doing — even the smallest things — to see if there was a way to improve it.

They started with the typical things you'd look at like their diets and exercise programs. But then he went a step further — and started looking at the pillows cyclists were using, the exact time they fell asleep and woke up, their daily routines and more to give them insight into their overall training system.

They figured out that even a 1% increase in any area of efficiency would aggregate marginal gains and finally create wins.

You can do the same thing in your real estate career. You have so many different avenues you're managing, but just getting 1% better in each of these areas can create big wins for your career.

Es...

When's the last time you updated your bio and refreshed your overall brand?

Remember the brand that you are selling is YOU. And you need to refresh your brand at least once a year. You might hate getting your picture taken, but you need a new one every year. And I'm not just talking about a new headshot. You also need to hire a professional photographer to do an entire photo spread for you.

On top of that, you need to update your bio. The best bios that will drive sales your way include the following four things:

1. They're timely
2. They're relevant
3. They include the latest and greatest things happening in your life that help you connect with people in a real way
4. And they include any awards you've received or accomplishments you've achieved

Your #1 goal with your bio is to create an emotional connection with people. So that when they read about you, they can easily decide that they want to work with you.

Once you've updated your bio, you have to make sure it's updated ac...

One question we always receive as REALTORS is - What's going to happen next? What's the crystal ball for where prices are going over the next 12 months? 

According to the NAR, Zelman, Realtor.com, Freddie Mac, CoreLogic, Fannie Mae and the Mortgage Bankers Association, the average of all those top industry insiders and economists within those groups, their prediction for the next 12 months is that we're going to see appreciation at 3.9%. You might think that sounds low. After all we just went through a year where we had double digit appreciation and in many markets we saw appreciation as high as 15-16% . Why would this group of economists predict such a low number when most of us would reasonably expect it to be double digits or high single digits (at the very least).  

The reason is I think those economists know something - When you have a low supply and high demand, what happens? Prices go up. When supply increases, it puts pressure on pricing because buyers have more to...

What do you do with a disloyal client?

Barbara Brown an amazing principal broker told me a story that can help all of us. It's a story of forgiveness. She had a client that she had worked with for years, be disloyal and list their house with another agent. It hurts but we have all had it happen.

When the holiday season came around, she said to herself - Should I delete these people off my database list and not send them a holiday card or should I keep them on my list?

She struggled with the decision and thought about it for a long time. Finally she decided to take the high road keep and them in her database. She sent them her traditional Holiday Card.

Guess what happened?

Those disloyal clients circled all the way back. Their listing didn't sell and they called Barbara to come list the property. Of course Barbara had to ask the question - Why didn't you call me the first time?

Turns out in their previous transaction with Barbara there had been some little rub around closing co...

How do you engage your sphere of influence in a unique way this week?

Try using an audio clip from Facebook Messenger. Audio clips can provide an easy way to record a personalized message that will engage your sphere of influence. Yes, calling and texting are always our number one and two methods of communication but an audio clip can be something new, fresh, and exciting.

The advantage to a clip is the ability to send multiple messages quickly. Imagine touching a hundred of your clients with a personal message that will be heard within just a few hours!

Need an idea on what to say? Try this script: “Hey (contact name) just wanted to reach out and let you know that I am now accepting new listing appointments – we are in a super low inventory market, almost sold out in some price categories – so if you hear of anyone making a change I would love to help and if I can help you with anything, please give me call!

If you are looking for a way to move sellers off the fence and unlock more inventory try using the Trade Up Script!

As buyer demand continues to surge our biggest challenge is finding quality listings. Using the Trade Up Script you can not only secure more listings you can also add more buyers to your pipeline (every seller becomes a buyer!)

“With interest rates hitting 50-year lows over the past 6 weeks (in the low 3% range) many homeowners are trading up to their dream home with very little change in their payment. The reason is if you are paying more than 4% on your current home and we can help you buy your next home at closer to 3% - that difference - gives you way more buying power. You can get that extra bedroom, the shop you always wanted, your dream kitchen, or even a pool. Seriously this is an amazing time to buy a home. Give me a call today to set up your dream home search.”

Ready to upgrade your real estate career with a system that you can plug into today that offers...

What if lead generation didn't have to feel like work? What if you could tap into the easiest, most productive lead generation system to produce an endless stream of referrals? Oh, and by the way - no technology skills or social media mastery required!  

The answer is networking. Before you dismiss this concept let's dig into the details and the specific technique. 

Networking simply means you are connecting with people who have the power to send you referrals. It may be surprising to hear that according to Columbia University every American has 290 connections.  These aren't Facebook friends or Instagram followers but actual connections. This is your clients sphere of influence.

Now of that group how many people will be moving this year? According to the US Census Bureau 11% of the US population moves ever year. This means that every single person in your sphere is in direct contact with 33 people who will move this year.   

Now let's assume you make a commitment to begin conducti...

Your most valuable asset as a real estate professional are relationships with your sphere of influence. These key influencers are driving an average of 80% of your business to your bottom line both from direct business and most importantly referrals. 

So what are you doing to market to this amazing group of people? If the answer is buying more Zillow leads - you are failing a massive test. Take a look at these stats: 

Customer acquisition & retention marketing stats:

• Acquiring a new customer can cost 5X more than retaining an existing customer.
• Increasing customer retention by 5% can increase profits from 25-95%.
• The success rate of selling to a customer you already have is 60-70%, while the success rate of selling to a new customer is 5-20%.

To ensure that you are maximizing your opportunities consider throwing a Client Appreciation Party this year! To help we have put together this quick video on 7 Steps to an Amazing Client Appreciation Party including:

1. Picking a Date 
...

Interest rates are at a three year low which is great news for home buyers and for home sellers but who else might this benefit? 

Anyone who owns a home or investment property that may be in a position to refinance their property. For any of your clients that purchased a property as little as six months ago when interest rates were a full percentage point higher than they are today refinancing could be a huge opportunity to save tens of thousands of dollars. 

By reaching out to your database and making this value added call (which has nothing to do with you asking for anything from the client) you can be a hero and your clients will love you! 

Watch this quick video as Jim breaks down a simple script you can use as a text, phone call, social media post, or email. 

Do you need more leads, more listings, more buyers, and more closings? 

Explore Mastery Classes:

• Open House Mastery 
• For Sale by Owner Mastery
• Expired Listing Mastery
• Sphere of Influence Mastery
• Business to Busi...