Real Estate Coaching Radio

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Realtors: 5 Ways to Get Your Buyers In Contract This Week! Oct 26, 2023

Show notes

Welcome back to America's #1 Daily Podcast, featuring America's #1 Real Estate Coaches and Top EXP Realty Sponsors in the World, Tim and Julie Harris. Ready to become an EXP Realty Agent and join Tim and Julie Harris? https://whylibertas.com/harris or text Tim directly 512-758-0206

IMPORTANT: Join #1 Real Estate Coaches Tim and Julie Harris's Premier Coaching now for FREE. Included is a DAILY Coaching Session with a HARRIS Certified Coach. Proven and tested lead generation, systems, and scripts designed for this market. Instant FREE Access Now: YES, Enroll Me NOW In Premier Coaching https://members.timandjulieharris.com

Assumptions:

Assumption A) You have buyers in your pipeline who are both motivated and qualified. Some of them are even all-cash buyers. You know they're motivated and qualified because you've used your Buyer Prequalification Scripts and you also know which of them also have homes to sell.

You know exactly what price range, neighborhoods, and criteria they're looking for. If not, get back to work and use the Pre Qualification questions in the scripts. Get them at PremierCoaching.com by signing up for free.

Assumption B) Your buyers aren't in contract yet because either they keep losing in multiple bid situations or you can't find them a house that meets their criteria.

REAL ESTATE LEADS, LEADS and more LEADS: Question: What is Tim and Julie Harris's favorite PROBATE LEAD PROVIDER? Simple, https://alltheleads.com/harris

Assumption C) You're motivated and ready to get into action. You're tired of the hamster wheel of showings, bidding, and missing out. You're tired of waiting for inventory to show up that makes sense for your buyers.

If all 3 assumptions are correct, let's get to work.

5 Ways to Get Your Buyers In Contract This Week!

1. Create 1 'WANTED Flyer' for each of your buyer clients: "Wanted! Your home for my pre-approved (or all cash), highly motivated buyer clients." Describe your buyer's needs and price range as well as their desired communities. Be specific. If they need a single-level floorplan, say so. If they have to have a specific school district, state that.

Example: WANTED! Your home for my all-cash, very motivated buyer clients. This family is looking for a 4 bedroom, 3 bathroom home ideally in Albany Woods. A fenced backyard is a plus. Flexible closing date! Looking up to $750,000. Call me today if your home is a match!

Ready to become an EXPIRED Listing Agent? As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/?aff_code=670699

*Don't use buyer's names, but DO be descriptive so it doesn't look like generic Realtor advertising.

2. Use your WANTED Flyer to doorknock their desired neighborhoods. Be sure to research any Expired, Withdrawn, Temporarily off Market, and For Sale By Owners in the same area and prioritize those homes.

3. Post your WANTED Flyer to your Social Media with a call to action to message you back to see if your buyer is a match for their home. When you get messaged, CALL the person back with urgency. Remember, it may or may not be a match for your buyers; it's still a potential listing lead either way!

4. Make a short video using the WANTED theme for each buyer and send it to your database with a call to action to text, email, or call you with a house matching your buyer's needs. Send this to your agent database as well since most listing agents have properties in their 'coming soon' pipelines.

5. Post your WANTED flyer on Nextdoor.com/neighborhood name as well as any neighborhood Facebook pages, Whatsapp Groups, etc.

For more proactive ways to find inventory for your buyers as well as listing inventory for yourself, join Premier Coaching today by simply visiting PremierCoaching.com and signing up for free!

7 NEW RULES For Real Estate Agents MUST Know Oct 25, 2023

Show notes

Don't overreact! The market is shifting, there's no CRASH. Tuck your drama in and get back to work! If you expect buyers and sellers to transact with you, you must be educated, motivated, and proactive.

Fact: Some homes will sell immediately with multiple offers, sometimes over the list price. Some won't. Be able to handle both situations with skill.

The market is not about to crash. It may SEEM like a crash to you if you believe that 30 days on the market is the end of the world. This time is NOT like last time. Many agents, buyers, sellers, and lenders were not even adults during the 'last time'... the crash of 2007-2009. The elements are not remotely the same. Waiting to buy or sell because you think the market will crash is a mistake.

1. Set your seller's expectations for two scenarios... yes, it MAY sell right away, possibly with multiple offers, however...if it does NOT sell right away, what does that do to their plans? Understand your seller's motivation and time frame and discuss different scenarios (after you have the listing signed but before the first showing)! What are the average days on the market for the subject property? Don't ASSUME that it's 10 or less, or even 30 or less depending on the market conditions!

REAL ESTATE LEADS, LEADS and more LEADS: Question: What is Tim and Julie Harris's favorite PROBATE LEAD PROVIDER? Simple, https://alltheleads.com/harris

2. Prepare your listings as if you have more competition. Buyers are getting more picky and will pass on a home that seems neglected. Buyers are starting to believe there will be more inventory soon and may pass on something that's not quite right. Proper previous preparation prevents pitifully poor performance! (The 7 P's). Make it shine, even if you think you don't have to. Your seller will thank you.

3. You must be more careful about accurate pricing on your listings. Do three comparative market analysis'. A listing presentation you go on today, where the seller will take 30 days to prepare the home, will require you to revisit the price before you actually launch it as a new listing. In a shifting market, this may adjust up, down, or stay the same. What do the new pendings and sales tell you?

Ready to become an EXPIRED Listing Agent? As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/?aff_code=670699

5. If the seller HAS TO sell, you have to take the listing. Don't lose it over being adamant about your price. The market still has enough demand that you MAY be able to achieve the seller's higher price (within reason!).

6. Brush off your price reduction scripts...wait, what? You don't have any because you've never needed them? Yikes! Yes, it is possible in today's market to actually overprice a listing and have it sit on the market. This is called 'aspirational pricing' and is the #1 reason we see expired listings every day. Don't let it happen to you!

7. Always speak to the listing agent when you're representing buyers. Find out what's most important to the sellers. Other than price, what will make your buyers THE buyers? The buyers who are still in the market after higher rates are more serious and probably more qualified. Assume you'll still be competing most of the time.

Is THIS The Worst Real Estate Market EVER? (Just The Facts!) Oct 24, 2023

Show notes

There's no doubt that the real estate market continues to change. With so many negative headlines, it's time to sort out the good, bad, and ugly of today's market. Let's stick to the facts and talk about what all this really means to you, our listeners who are out there helping buyers and sellers every day.

On today's show, we'll discuss six key facts and how to use this information with your clients and prospects.

Fact #1: It's true that new housing permits are down 4% this month, but here's the interesting thing: Single-family home permits are UP by 2%. The 4% that's being reported is due to a decline in permits for multi-family construction.

How well do you know the new construction in your market? What are the different products available, where are they priced and what kind of builder incentives are being offered?

Ready to become an EXPIRED Listing Agent? As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/?aff_code=670699

Fact #2: Headlines say that we're headed for a 'frozen market' this winter, with sales down 2% month over mont and 15 to 20% down over last year. In 2021, there were 6.6 million sales. We are projected to close 3.96 million sales this year, the lowest volume of sales since 2010, during the Great Recession.

You can focus on the fact that there are fewer sales, or you can decide to focus on YOUR sales. You don't need a million sales. Most of you need 12 to 24 sales yearly to have an amazing lifestyle. Be proactive and be the one who IS selling instead of being an agent who uses fewer sales as an excuse to be lazy.

Fact #3: Interest rates are averaging 8% now. Though this is a major increase versus the radically low rates of past years, it is actually about average in history. How has this affected the market? Investors, flippers, and some first-time buyers have left the market.

This leaves cash buyers, motivated sellers, and people moving mostly for circumstantial or lifestyle reasons. You must be more proactive to find those prospects!

REAL ESTATE LEADS, LEADS and more LEADS: Question: What is Tim and Julie Harris's favorite PROBATE LEAD PROVIDER? Simple, https://alltheleads.com/harris

Saavy mortgage lenders are promoting free refinance programs for the next 18 months. Remember: marry the house, date the rate. You can always refinance.

Fact #4: There is still more demand than there is supply. Last month, 69% of homes sold in less than one month. Homes that sold had an average of 2.6 offers, and 26% still sold for more than the list price.

This means that 1.6 buyer prospects lost the battle and are still looking. How are you being proactive in finding a match for your qualified and motivated buyer clients?

Fact #5: Not everyone cares about high interest rates. Nearly 30% of last month's closings were ALL CASH transactions.

Fact #6: Not ALL First-time buyers have left the market! 26% of sales last month were first-timers. There are well-qualified, well-paid, healthy downpayment, high-credit buyers out there; you just have to be the one working with them!

If you like this podcast, you'll love Premier Coaching. Sign up today for free by visiting PremierCoaching.com Get the support you deserve and be surrounded by motivated and skilled agents and coaches on our daily live coaching sessions!

The Real Estate Agent Success Formula, Truth Revealed Oct 23, 2023

Show notes

Everyone is great at some things, not great at others, and is working towards a greater level of mastery on the things that matter most to them. This is true in business, as well as in life. Today you'll discover which level of mastery you have regarding your real estate skills.

Initially described as “Four Stages for Learning Any New Skill”, the theory was developed at Gordon Training International by its employee Noel Burch in the 1970s. Since then, it has been frequently attributed to Abraham Maslow, although the model does not appear in his major works.

The Four Stages of Learning provides a model for learning. It suggests that individuals are initially unaware of how little they know, or are literally unconscious of their incompetence. As they recognize their incompetence, they consciously acquire a skill, then consciously use it, polishing it and improving with practice. Eventually, the skill can be utilized without it being consciously thought through: the individual is said to have then acquired unconscious competence.

REAL ESTATE LEADS, LEADS and more LEADS: Question: What is Tim and Julie Harris's favorite PROBATE LEAD PROVIDER? Simple, https://alltheleads.com/harris

Keeping it practical and tactical...let's take a look at each of these stages and translate it into something you can really use to move your skills forward.

Unconscious Incompetence

The individual does not understand or know how to do something and does not necessarily recognize the deficit. They may even deny the usefulness of the skill. The individual must recognize their own incompetence, and the value of the new skill, before moving on to the next stage. The length of time an individual spends in this stage depends on their own desire to learn and improve.

Example: An agent has never had to compete on a listing. They only work with referrals, friends, and family. They don’t see a need for a Pre-Listing Package or a formal listing presentation. They don’t pre-qualify, they probably don’t use any scripts. They have been reasonably successful. They sometimes believe they already must have that skill because they've done ok so far.

Ready to become an EXPIRED Listing Agent? As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/?aff_code=670699

Stimulus to Learn: Losing a deal, a listing, or a buyer to someone more professional. Almost always a shocking surprise to someone in unconscious incompetence.

Goal: This agent must learn to set more appointments, especially with prospects they do NOT know, so they see they need to upgrade their skills. More experience will shine a light on their deficits, thus motivating the agent to improve.

Challenges: If it takes too long to experience the loss of a deal or a listing, the agent can stay in this stage forever.

Conscious incompetence

Though the individual does not understand or know how to do something, he or she does recognize the deficit, as well as the value of a new skill in addressing the deficit. The making of mistakes can be integral to the learning process at this stage. Lots of trial and error.

15 Must Ask Questions When Choosing A Broker Oct 20, 2023

Show notes

Choosing the right real estate broker is perhaps the most important decision every real estate agent has to make. On today's Real Estate Training and Coaching podcast, Tim and Julie Harris will share with you the top 15 questions to use when interviewing potential real estate brokerages. These questions are perfect for new agents and seasoned agents alike, who may be in need of a broker upgrade. The old question is: "What are you paying your real estate broker?" (fees / commission splits / etc), but the new question is : "What is your broker paying YOU?"

So what questions should you ask when choosing a real estate brokerage? Here are the questions, as well as why WE chose EXP Realty. In no way is this a comprehensive or a one-size-fits-all list of questions. These questions are designed to fine tune your thought process so that your brokerage choice is in alignment with your goals and ambitions.

REAL ESTATE LEADS, LEADS and more LEADS: Question: What is Tim and Julie Harris's favorite PROBATE LEAD PROVIDER? Simple, https://alltheleads.com/harris

Before we get to the 15 questions please answer these 2 questions:

1) In the last 12 months what 2-3 things are you most proud of having accomplished in your real estate business?

2) 12 months from now when you are looking back, what will be the 2-3 things you will be proud of having accomplished?

1. Is your income flat or in decline? Do you feel like the best days of your real estate career are behind your or still ahead?

2. Are you the best agent in your office, not feeling challenged currently?

3. Is the environment at your current brokerage negative in nature? Are your colleagues, broker, or office manager too negative and killing your motivation? Do they just talk about how tough the market is? Is the fear meter pegged because the brokerage is clearly lost in this new market?

Question: Are you ready to join EXP Realty now? Tim and Julie Harris are applying for the job of being your EXP Realty sponsor. Partner with Tim and Julie at EXP Realty. Text Tim now: 512-758-0206.

Ready to become an EXPIRED Listing Agent? As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/?aff_code=670699

P.S. Yes, that is Tim's real cell number and he really will personally respond.

P.P.S. Text (don't call) 512-758-0206 if you are ready to join EXP Realty or if you are EXP Realty curious.

4. Does your brokerage require you to attend too many mandatory meetings or other time consuming, non-dollar productive activities?

5. Does your broker or office manager shoot down every idea that isn't a super traditional activity? Do they have little or no tech support? If your brokerage isn't 100% online and doesn't have its own MetaVerse, how will the next generation of buyers perceive that brokerage? Most importantly, how will they perceive YOU?

6. Do you feel like you're constantly being nickel and dimed? (Does your broker take a cut out of every source of income, including home warranty sales and processing fees? )

7. Does your broker offer zero support beyond just your basic transactions?

8. Does your brokerage have an iBuyer program?

9. Does your brokerage provide revenue share?

10. Does your brokerage provide opportunities to purchase stock, or offer stock awards?

4 Deadly Deal Killing Mistakes Agents Often Make Oct 19, 2023

Show notes

Negotiating has become more complicated now that the market has shifted. Currently, there's a mixture of homes that are selling quickly, with competing offers, as well as homes that are taking longer to sell, with perhaps only one offer.

This means you've got to sharpen your skills if you want to win every time!

Mistake #1: Lack of Communication from both the Buyer's Agent and the Listing Agent. If you want to win, you need a meeting of the minds. The definition of negotiation is the reaching of a mutual agreement that all parties are satisfied with. You have to actually talk to each other to make this happen!

Example 1: Listing agents, if you want to receive offers that are easy to say 'yes' to, put the desired terms into the agent-to-agent comments in the MLS, and/or actually call all those buyers' agents back who haunt you looking for the details that will help them win!

REAL ESTATE LEADS, LEADS and more LEADS: Question: What is Tim and Julie Harris's favorite PROBATE LEAD PROVIDER? Simple, https://alltheleads.com/harris

Example 2: Buyers agents: actually read all comments in the MLS and counsel your buyers to comply with as many of the terms as possible, if they intend to actually win!

If there are comments, you must find the listing agent and ask them, other than price, what will it take to win? Does the seller want a specific closing date or a lease back, or to keep the fancy chandelier? Find out and see if you can deliver a contract they'll accept.

Mistake #2: No lender's letter or proof of cash, a weak lender's letter, or a boilerplate letter. If your buyer has financing, their lender's letter needs to show ideally that they are loan-committed, or at least pre-approved. It needs to state that their ratios, credit, employment, and downpayment are all adequate and verified. Additionally, the lender should call the listing agent and 'vouch' for the buyer's ability to close.

Ready to become an EXPIRED Listing Agent? As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/?aff_code=670699

*If you are a Premier Coaching Member, simply use your 'ultimate addendum' to avoid this mistake!

Mistake #3: Not being specific about the seller's concessions. This ranges from asking for a specific type of home warranty for a specific price, to asking for thousands of dollars towards buyer's closing costs.

The first issue is easy. Check the box on the offer stating the buyer wants a home warranty, then state which warranty, that it's for one year, and will cost $X.

The second issue is more tricky. If you're asking for the seller to contribute $5,000 towards buyers closing costs, state (after speaking with your buyer and their lender), what those funds will go to. Buying down the interest rate, and paying prepaid costs like taxes, homeowners insurance, and prepaid HOA deposits are all appropriate. Ask for a good-faith estimate so you can be specific. Note: some lenders will inflate costs when they know the seller is contributing thousands to the deal.

Failure to be careful when you're dealing with dollars will almost always bite you in the butt prior to closing and guess who's going to pay the price if there's confusion!

New Rules When Working With Real Estate Buyers Oct 18, 2023

Show notes

Like a listing presentation for a seller do you have a.... Buyer Presentation for your buyers? In this new market buyers agents must have an actual buyer presentation. Listen to today's show to learn what you should and shouldn't include in your buyers presentation.

Fact: Buyers aren't liars, they just have no idea what to expect. They don't know what the correct process is, what to expect from you, what you expect from them, or anything else that agents like to get upset about.

Fact: It's not the buyer's fault. It's the agent's fault for not educating them on what is supposed to happen throughout the process. This is also why agents don't typically get the Buyer's Agency form signed. Remember that the definition of 'close' is 'the logical ending to a great presentation'. If you try to close for a signature on the Buyer Representation Agreement without a presentation of WHY they'd want to do that, of course, you'll face rejection and never want to ask again.

Ready to become an EXPIRED Listing Agent? As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/?aff_code=670699

Solution: Use a proven Buyer Presentation! You'd never expect a seller to sign a Listing Agreement without a presentation, would you? Do you have a presentation for your buyers?

Our Proven Buyer's Presentation specifically addresses several key challenges that agents and brokers have with buyers.

1). What is the actual process to correctly purchase a home? In what order will they need to execute those action steps? First-time buyers are especially in the dark about what to do and how to act, but other buyers from different markets or countries can also be confused. It's not their job to know what to do; it's your job to set expectations and educate them. You've also noticed that folks who haven't bought for several years may have different expectations than what today's market requires.

REAL ESTATE LEADS, LEADS and more LEADS: Question: What is Tim and Julie Harris's favorite PROBATE LEAD PROVIDER? Simple, https://alltheleads.com/harris

Start with the buying process. Actually educate your buyer prospects about what is supposed to happen and in what order!

-They must become pre-approved and, ideally get an actual loan commitment from a mortgage lender. You can supply your buyer with a standard list of documents required to apply for the mortgage and the specific lender can add anything particular to them. Your buyer should also be aware of their own credit scores at this point in the process.

-If your buyer is all cash, they need to secure a proof of funds letter from the entity where their cash is parked. Bank accounts, investment accounts, etc. Caution: is it coming from the sale of something that hasn't sold yet?

-Sit down with you for your Buyer Presentation. We'll drill down on that in a moment.

-Discuss their expectations. What are their 'must haves' and their 'would be nice to have' items? Help spouses or partners have a meeting of the minds. What can they reasonably get for their price range and geographic requirements? Create a strategy if they're buying and selling at the same time. Which should happen first? (We have coaching on how to handle this).

Mission Critical Daily Success Schedule & Minimum Standards Oct 17, 2023

Show notes

Yes, we know, you got into real estate so no one could tell you what to do, how to do it, or when to do it. You wanted FREEDOM of course! This is why most agents resist any type of disciplined schedule, yet it's the very thing that will help you achieve financial freedom faster.

Fact: You must come to terms with this truth: In business and in life, you must do the things you don't want to do when you don't want to do them at the highest level.. so you can someday do the things you DO want to do when you want to do them at the highest level. If you want that faster, it's time to embrace at least some level of discipline.

1. Your schedule is NOT a prison. Set up your day so that it's what you WANT. Set it up so your day ends BETTER than it began. What would it take for you to make that happen? If you're not controlling your time, someone or something else always will.

Ready to become an EXPIRED Listing Agent? As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/?aff_code=670699

What three things are mission-critical for your day to be a success? If you're not sure, always ask yourself if what you're doing leads directly to a transaction of not. The things that make you money in real estate are:

ProActive Lead Generation, Furiously Fast Lead Follow-Up (don't let anything sit in your voicemail, texts, or messages for more than 5 minutes), PreQualifying, Presenting, Negotiating, and Closing.

For example, 3 mission-critical things for today might be: -finish negotiating the home inspection on your listing, -make at least 5 new contacts or 1 new appointment, whichever happens first, and have a Buyer Presentation with your most qualified buyer prospect. Your day would end better than it started, right?

2. What is your ratio of responsibility vs reward? What are you going to do and what are you going to get? If you know that every time you speak to 10 Expired sellers you set at least 1 new listing appointment, that's a great reward for the work. If every time you have a great open house, you pick up at least 2 new clients, that's also a great ratio of responsibility versus reward.

REAL ESTATE LEADS, LEADS and more LEADS: Question: What is Tim and Julie Harris's favorite PROBATE LEAD PROVIDER? Simple, https://alltheleads.com/harris

3. What would happen if you didn't avoid the things you should be doing for the next year, next month, next week, TODAY? Who would you be? How would your business be different?

4. It's not healthy to not have a routine. Don't mess with your circadian routine. Studies have shown that having a schedule stabilizes your nervous system, literally. Think about how puppies and kids are when they have a schedule versus when they don't! Have daily minimum standards you follow the same way every workday.

5. Your confidence comes from doing what you say you're going to do, and doing it repetitively. Lead by example for your prospects, clients, and family. The accumulation effect can work for you or against you.

Get help when you need it! Become a Premier Coaching Member and surround yourself with caring and competent Harris Certified Coaches and other members who are working on the same things you are. Surround yourself with success.

5 Step System For Exclusive Buyer Agency Agreements Oct 16, 2023

Show notes

It's a fact. Buyer-side commissions are no longer a guarantee, no longer an entitlement. You can't just assume you'll be receiving X% on every transaction. Though this seems like a whole new stress-inducing worry for many of you, the fact is that commissions have never been a set amount, just an expectation or a tradition in many markets.

Builders don't all pay the same buyer-side commissions, in fact, some don't pay ANY buyer-side commission. For Sale By Owners are the same. It's time to get better at proving your worth on the buyer side, because soon you may have to ask your buyers to pay all or some of your fee.

This brings us to your burning question: How do you provide overwhelming VALUE to your buyer clients? How can you become more comfortable asking for an exclusive buyer agreement and along with it an expectation to be paid for your hard work?

Top 5 Ways to Provide Overwhelming Value to Buyer Clients

Fact: If you're not doing anything for them that they can't do on their own, why would they hire you in the first place, much less pay your fee?

Goal: Provide such overwhelming value that you're all they're talking about to their friends! Repeat, referral, lather, rinse and repeat.

REAL ESTATE LEADS, LEADS and more LEADS: Question: What is Tim and Julie Harris's favorite PROBATE LEAD PROVIDER? Simple, https://alltheleads.com/harris

1. PRESENT to your buyer clients in the same professional manner that you do a listing client. Use our Buyer Presentation where you outline exactly what the buying process is, what your role is, what the buyer's role is and how you'll be working together to accomplish their goals. More and more, you'll start to compete for buyer business in a similar way you do for listings now!

2. FIND them their dream home. One of the top concerns for buyers as well as agents right now is the historic lack of inventory. It's YOUR job, not theirs to find the right home for their needs.

-Be more creative in your MLS searches. Change the search area, change the TYPE of home, or find an equally great school district to look in that has more inventory. Remove square footage as a requirement, look for a 3 bedroom with a loft instead of only 4 bedrooms, for example.

-Refer to our podcast series about how to find inventory that is NOT in your MLS.

3. KNOW and PRESENT solutions to get a better-than-average mortgage interest rate. You don't have to know as much as your competent mortgage lender does, but you should be able to competently discuss : 2-1 Buy Downs, Adjustable Rates, and how to pay points to lock in a lower rate on a 30-year fixed mortgage.

4. Be a matchmaker. You must be more proactive than your buyer is. If they're dying to be in just one specific neighborhood, doorknock that neighborhood for them to uncover the next motivated seller.

5. Provide additional value by being one step ahead once they're pending.

Ready to become an EXPIRED Listing Agent? As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/?aff_code=670699

Need more training on this? Join Premier Coaching today to get the Buyer's Presentation and the Buyer Mastery coaching you'll need to thrive in this new market.

Real Estate Agents: How to Boost Your Repeat & Referral Business ASAP! Oct 12, 2023

Show notes

How To Boost Your Repeat & Referral Business ASAP in 3 Easy Steps

Real estate agents and brokers... if you could choose where your next listing would come from, wouldn't you always answer, "a repeat or referral client"? Of course, you would. Why?

-They're easier to work with, they already trust you, you're probably not going to compete for their business and they are less likely to throw objections at you! Also, they don't ask you to cut your commission or shoot them a kickback.

Today, we discuss how to create a steady flow of leads from this critical source of business?

Many surveys have shown that when someone is making a decision about who they will hire to provide a service, they first ask: Whom do I already know? (87% of the time), if they don't know anyone, they then ask a trusted friend or advisor who THEY know (6% of the time), and only after those two questions are exhausted do they turn to an advertisement or marketing piece.

REAL ESTATE LEADS, LEADS and more LEADS: Question: What is Tim and Julie Harris's favorite PROBATE LEAD PROVIDER? Simple, https://alltheleads.com/harris

Your job is to be the answer 93% of the time so you don't have to waste money trying to be the answer 6% of the time!

This means perfecting three things immediately:

1. Have an organized database with names, numbers, email addresses, LinkedIn, Facebook, Instagram and other support information on each person. You don't need a fancy CRM, use KV Core for example. CALL each person to update the rest of their profile. It's a great excuse to make that first (or next) contact! Use your F-O-R-D conversation outline to make these calls fruitful. (Family/Occupation/Recreation/Dreams)

Ready to become an EXPIRED Listing Agent? As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/?aff_code=670699

2. Speak with all of your contacts regularly. That means face-to-face, voice-to-voice, 'real' contacts. A contact is a conversation with a decision-making adult about real estate. Refer to our coaching and podcasts about the 'FORD' script. For example, if you have 200 people in your database and you speak with 10 per day on work days, you can actually speak to 100% of your list every single month. What would THAT do to your repeat and referral business? If 10 is too many, even making 5 contacts per day will have you speaking with 100% of your list every sixty days.

3. EXPAND your Center of Influence systematically. 10% of the number of people in your database will do business with you or refer business to you every year, assuming you communicate with them. If your database is 100 people strong, you'll have 10 transactions yearly from them. 200 equals 20 transactions, and so forth.

Smaller is better. Don't dump random 'leads' into your database. Past clients, friends, family, neighbors, and people in your sphere of influence belong on the list. You can have a second list of your Professional Center of Influence: lenders, title people, painters, insurance people, etc.

There are 3 categories in which to expand your Center of Influence Contacts:

a) Things you like to do anyway, such as your hobbies, sports, arts, working out at a gym, or going on organized hikes.

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