Real Estate Coaching Radio

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Real Estate Agents 11 Step Plan To Earn $1,000,000 Per Year Jul 14, 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

$1 million Gross Commission Income = 100 transactions at $10,000 average commission, based on the national average of $400,000 sale price.

If your average sale price is $750,000 then you’ll need 55 transactions.

If your average sale price is $1m, you’ll need about 40 transactions.

1. Decide and accept the fact that your success is up to you and only you. “If it’s meant to be, it’s up to me.”

It’s not up to your broker, your market, the interest rates, or who’s president. It’s up to you. Be responsible for your own success. OWN it all.

There will be at least 4 million sales this year. How many will you be involved in?

2. Invest your TIME before you invest your MONEY. People invest 4 years or more in a college education, only to graduate (sometimes), with student loan debt and a job that they could hate for the next decade or more.

You can’t skip learning and be earning at the level you desire. Work sporadically and you’ll get sporadic income. Work consistently and you’ll achieve momentum faster.

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/

Stages of Learning:

-Formulation. (Getting ready to get started, creating your plan)

-Concentration (Doing the actual work, learning and using your skill)

-Momentum (Repetitious, predictable success)

-Breakthrough (High level implementation without getting bored and falling back to the first stage)

3. You MUST have the following, immediately. Failure to be great at these 4 things will handicap your success.

Scripts. Proactive lead generation scripts, open house scripts, lead follow-up scripts, basic conversations with your sphere of influence, prequalifying scripts, and closing scripts. Scripts are simply questions that lead to a close.

Pre-Listing Package. Not your broker’s, not something you found for free online. A proven, powerful, and personalized pre-listing package.

Listing Presentation

Buyer Presentation

You must invest your TIME in these items before you spend your MONEY on anything else!

4. You can NOT be weird about being a salesperson, about talking about real estate, about talking to PEOPLE. Don’t be a secret agent, it’s not profitable.

This is a contact business.

-Face to face

-Voice to voice

-Video to multiple viewers

5. Have and follow a business plan. Failing to plan is planning to fail. Get your Real Estate Treasure Map today and get started immediately!

Your Treasure Map is your personalized life and business plan. You will learn the following:

-Your goals. Why are you in real estate? What must it accomplish for you and your family? Goals in 5 areas of life. YOUR goals.

-Where will you get your business from? Understand lead generation.

-What’s the Magic Number? What is YOUR Magic Number?

-Your profit-driven, powerful Ideal Schedule. How will you invest your TIME?

Last but not least, get help when you need it! Don't navigate the real estate wilds alone! Join Premier Coaching today by visiting https://PremierCoaching.com and signing up for FREE.

How To Avoid The Top 5 Real Estate Contract Killers Jul 13, 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 Buyer's Agent and 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!

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.

*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, 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!

Real Estate Agents: Hidden Source Of Homes For Sale Revealed Jul 12, 2023

Show notes

Realtors and Brokers, are you relying solely on that buyer drip you set up for your motivated and qualified clients? Has the drip run dry? It's time to get more creative, more aggressive, and more profitable with your MLS searches.

Today we'll show you how to deploy 5 creative ways to get more from your searches, so you can get those buyers in contract faster.

Fact: The longer you take to deliver what your buyers want, the less faith they'll have in you. If you've ever been 'ghosted' by clients you showed homes to, this may have been the reason. Are your buyers being more proactive than you are?

Fact: Finding the right house for your buyers in today's market is a bit like a Safari. You're looking for something that's scarce but could be hiding in plain sight. You'll need more tools, and more skills to have a successful hunt!

Yes, keep setting up those buyer drips, but ALSO make sure YOU are actively and creatively mining your MLS, using the following five strategies:

1. Re-examine your buyer's wants and needs. What's a deal killer and what's a deal-maker and why? If they're adamant about a specific neighborhood, why is that? Is it because they love the walking trail and the clubhouse? There are probably 10 more neighborhoods in their geographic search that ALSO have that profile. EXPAND their search to capture more options!

2. If your buyers can't or won't compete for scarce inventory, change your strategy. Search for homes that have 30+ days on the market, 60 or 90 days plus as well. You're less likely to have to compete for those, and the sellers are likely to be more motivated to make a deal.

3. Look for new construction, even if your buyers don't think they will like it, add one, well-selected new home at the end of a search for resale homes just to take their temperature. They may be surprised by how much they like it, considering it's all-new, they get to choose some options and they won't have to deal with repairs!

4. If you can't find something in the right school district, find out if that district allows out-of-district families to pay tuition. This is becoming more and more prevalent and ranges from $1,000 per year on up. Call the district enrollment advisor and find out! Often the tuition can be made up by the fact that buying out of the district costs less and has lower property taxes.

5. Look at your own past client and sphere of influence list as your private MLS. Who do you already know who owns a home which meets the criteria of your buyers? Does that homeowner know what the current value of their home is? If they did, what would that do to their plans? Who in your database just got relocated, divorced, or needs to upsize or downsize? Who just had a 3rd kid and needs to buy a 4 bedroom home?

Bonus Point:

Homework: Take a close look at your buyer clients. Utilize all 5 strategies with each of them, every week until you've found success. Let them know what you're doing to be proactive!

Real Estate Agents Super Simple 5-Step Past Client Plan Jul 11, 2023

Show notes

Your number one job in real estate is to generate new business every day. It is what fuels the engine of your business. If you're not generating all the time, you'll experience feast and famine instead of the predictable, duplicatable income you desire.

Any day that you don't have a listing appointment, a closing, or showings with qualified and motivated buyers, you must prioritize proactively generating new opportunities.

If you could choose any listing from any source, wouldn't you always answer 'repeat or referral' from someone you already know? Of course, you would. They already know, love, and trust you. You probably won't compete for that business, and you didn't have to buy the lead.

Today we're talking about 5 ways to Nurture your database. Your database includes your past clients, people in your sphere of influence, and your professional sphere of influence.

1. Record a video, offering a free Comparative Market Analysis. What is their home worth in today's market? State some stats and facts about recent appreciation. Use your Board of Realtor reports, Case Shiller index, and your own experience as talking points. For example, since 2020, home values in Columbus, Ohio have increased on average by 41%!

2. Have coffee or lunch with one past client per week, on a regular schedule as part of your past client nurturing plan. Invite someone from your sphere of influence or a past client and introduce them to each other. Use your FORD script and be sure to talk about real estate. Who do they know who could use your help buying or selling real estate?

3. Have at least 5 conversations per workday with someone from your database. Bring something of value to your call. This could be information about a coming soon listing, talking about what your buyers need to find, or some neighborhood news that affects them. And of course, always ask whom they know who could use your help.

4. Have 3 MeetUps per week to expand your Sphere of Influence. There are three categories where you can find new opportunities to meet people and talk about real estate. Those are: a) things you already have an interest in, b) networking for the sake of networking, and c) charitable events. Get your new contacts into your database.

Examples:

5. Send at least 3 thank you cards or congratulations cards to people in your database every day. Use social media to get ideas. Who got a promotion? Who had a kid graduate from high school or college? Who just got married?

Bonus point:

6. Client appreciation events. Refer to the 12-Month Past Client / Sphere Event Plan in Premier Coaching! Now is a good time to plan your next event. Learn what to do when and plan either monthly, bi-monthly or quarterly appreciation events. Many of them cost virtually nothing and we'll teach you how in Premier Coaching!

Real Estate Agents: How To Earn $144,000 Before The End Of The Year Jul 10, 2023

Show notes

What would happen if you listed and sold 12 more homes this year? The average closing price currently in the United States is $380,000. Let's use $400,000 to keep the math easy. On average, that would gross the listing agent $12,000. Let's say the net profit to that listing agent is $9,600 on that transaction after fees, etc. $9,600 x 12 = $115,200.

ASSUMPTIONS before we get to the action plan:

A) You will have to actively contact both people you already know as well as those you don't know. People you know are past clients, people in your sphere of influence, and agent referrals. People you don't know are everyone else. Are you willing to speak with both to earn your $230,400?

B). You should analyze where your business came from for the last 6 months, and keep doing what has worked. Consider doing MORE of what worked.

C). You must be willing to do what you don't want to do when you don't want to do it at the highest level. If you keep doing what you're doing, you'll keep getting what you're getting. To go to the next level financially, you must go to the next level with your skills.

D). You must ask for help when you need it.

TOP Six Ways To List (and Sell)

1. Expired listings. Expireds are at the top of the list because of the following:

https://www.redx.com/affiliate/tim-and-julie-harris/

Bonus: Don't forget old and older expired listings. You'll have less competition and are more likely to get the seller the price they wanted in the first place.

2. Your past clients and sphere of influence. Otherwise known as your database, statistically when you have regular and real conversations with your list, 10% of your list will either do business with you or refer business to you every year.

Secret: If you're an EXP agent, set up your KV Core and learn how to use 'Making It Rain' to support your proactive lead generation with your database.

3. New Build Sales People. These are the salespeople who sit in the builder's model homes and write up all those new construction contracts. Use our New Construction Plan (if you're a Premier Coaching Member) to meet those new build reps and get all of their resale referrals.

4. For Sale By Owners. When the market is hot like it's been for so long, there are always plenty of Unrepresented Owners who need your help. Most of them give up on the process if it's not sold in the first two weekends.

Get your Expired leads by texting the word 'RED' to 47372. RedX is your source for new and old expired phone numbers!

5. Open Houses. Refer to our podcast, "How to not just 'sit' and open house, how to monetize them!" Our open house system and scripts are proven to generate a bare minimum of three close-able buyers or sellers every time.

6. Small and medium-sized builders who are building homes on 'spec'. This means they're speculating that the house will sell. There are many iterations of this, all of which we teach in Premier Coaching, but what is working for our clients lately is to identify buildable lots and take them to the small builder.

BONUS POINT:

7. Probate. Not many agents prospect probate leads because they don't understand it. Probate is simply the process of selling a home after someone passes away.

Get your Probate leads here: https://www.alltheleads.com/probate?id=18

New Real Estate Agents: Here Is Your First Year, $100k++ Plan! Jul 07, 2023

Show notes

Real estate agents...Whether you are starting out in real estate and want to achieve $100,000 in income your very first year, or perhaps you've been in the business a while and want to ADD $100k, this is the podcast for you. How to make $100,000 your first year in real estate.

It might surprise you what you DON'T have to do...

-Be born into a real estate family

-Have a huge marketing budget

-Be a social media whiz

-Be super social and know thousands of people

-Be part of a team

-Buy all of your real estate leads

-Build your brand

-Toil away on endless cold calls

Nope, none of those things are in the 5 simple steps. None of them. So let's drill down and see what actually matters in real estate to get you to that first (or next) $100,000 in your pocket!

1. Have a definite goal. How many transactions will it take in your market to earn $100k in Gross Commission Income? For most of you, it's about a deal a month, based on a realistic average sale price of about $400,000. Adjust accordingly if your market is more or less expensive.

Napoleon Hill's first success principle is Definiteness of Purpose. This means that you must be very specific about your goal and have a plan to achieve it.

You can't just say 'I want to earn more money', or 'I want to quit my real job when I make enough money in real estate'. State the goal using the SMART goal system we teach you in Premier Coaching. Goals must be: Specific, Measurable, Achievable, Realistic, and Timely. Ex: $100,000 earned by this date, doing this many transactions, following this plan.

2. Don't spend money you don't have, speculating on things that won't work. You'll never actually KEEP the profit you intend to keep if you pre-spend it on things that are not predictable or duplicatable.

3. Using your Real Estate Treasure Map, create and most importantly FOLLOW your proactive, dollar-productive schedule. The most important thing for you to do every single workday is to have real conversations with real prospects about real estate. If you need 12 transactions, you need 12 conversations daily. Focus on past clients, centers of influence, expired, unrepresented owners (FSBOs) and open house leads. Stay away from circle prospecting, paid leads, internet leads, and other unpredictable, low-quality lead sources.

4. Use whiteboards and track all of your key performance indicators (KPIs). Track your listing leads, your active listings, your pendings, and your closings. Your boards will tell you what you need to do. Visual accountability works extremely well. If you need 3 listings at all times to for sure sell 1 per month, write on your listings board 1, 2, 3, and don't stop til you have 3 active listings.

5. Become the best in your market at proactive lead generation, furiously fast lead follow-up, prequalifying, and presenting. Nothing else matters and when you're great at those things, the rest can be learned or delegated.

Tim and Julie, HELP ME! Home Inspector Is KILLING My Deal! Jul 06, 2023

Show notes

Today, we'll discuss how to handle the deal-killing home inspection. How to avoid this problem ethically, what to expect, and how to still get the deal done.

Our listeners fall into two camps on this issue:

1. Experienced agents who have a Swiss army knife of solutions they can deploy to keep buyer and seller happy and make it to closing. They don't panic, they just solve problems.

2. Agents who may be experienced in working with buyers and sellers but who have little experience negotiating home inspections because they haven't had to in the hot seller's market of the past decade, where sellers could just say 'Nope! Take it or leave it, I have 3 other offers!', or worse: no inspection at all for you if you want to buy it.

Today's podcast will help that second category the most but also help fine-tune the skills of our more experienced listeners who may not have dealt with this for a while.

Fact: Buyers are getting more control of the transaction and home inspections are happening again. So are home inspection negotiations! In the worst-case scenario, this becomes a secondary point of negotiation. Everything could be on the table, including the purchase price, concessions from either or both sides and even the deal itself. This is a critical skill to improve upon so you'll virtually never lose a deal due to failing inspection items.

What to do when you get that big grocery list of what the buyer wants to be fixed?

1. Listing agents: Consider having Seller's Coverage from a trusted home warranty company at the time you take the listing. Many items will be covered including HVAC, plumbing, and electric, and the cost isn't paid until closing. This will help with minor but common issues.

2. Buyers agents: Council your buyer about what is appropriate versus inappropriate to request. Safety and security items and health risks are typically appropriate. Cosmetic items are not.

3. Buyer or seller's agent: Present the list and simply ask them what they think. It's not your job to have an opinion, to be an expert, or to play home inspector. Oftentimes what YOU are freaking out about might not be of concern to the buyer.

4. Buyer or seller's agent: Know what's a deal killer and what is just a request. Again, focusing on safety items is the rule of thumb here. If the HVAC just doesn't work, that's a reasonable request. If the buyer wants new window coverings, that's pretty unrealistic, cosmetic, and not the point of a home inspection.

5. Listing agents: respond in a timely way with a reasonable response. Factors for you and the seller to consider when deciding how to respond:

Bottom line? Don't give up! If the buyer still wants the house and the seller still has to sell it, your job is to find the solution to get them both to the closing table!

MUST KNOW: What Is Your DISC Personality Profile? (Take The Test) - Part 3 Jul 05, 2023

Show notes

Today is part 3 of 3, DISC Personality Profile real estate training and coaching. Today we drill down on the S and C personality profiles (or styles) The DISC Model of Behavior was first proposed in 1928 by William Moulton Marston, a physiological psychologist, in his book Emotions of Normal People. Marston made a deliberate decision to focus only on psychological phenomena that were directly observable and easily measurable.

Based on his research, Marston theorized that the behavioral expression of emotions could be categorized into four primary personality styles, based on the subject’s perceptions of themself in relationship to their environment. These four types were labeled by Marston as Dominance (D), Inducement (I), Submission (S), and Compliance (C).

These four styles are now commonly referred to as Driver, Influencer or Expressive, Supportive or Amiable, and Compliant or Analytical. There are many, many ‘spins’ on this, including tests and books. It’s commonly taught in sales training and business school. Marston created a model that integrated these four types of emotional expression into a two-dimensional chart.

He used the criteria of ‘introvert vs. extrovert’ and ‘direct vs. indirect’ to make that chart. We’ll draw that chart together later in the podcast.

William Marston was also known by the pen name of Charles Moulton, and also invented the prototype of what would become a lie detector. He wrote a lot about self-help and created the character Wonder Woman. Keep in mind that psychology is not a ‘hard science’, meaning it is full of abstract concepts, theory, observational analysis, and conjecture. It is not the same as physics, chemistry, or biology which have provable equations and actual laws.

Most importantly, remember that DISC is not a science, it’s a guide. There is no specific personality style that is guaranteed to be successful or not successful in business or in real estate.

Supportive or Amiable Personality Style: Indirect and Extraverted.

- Very family-oriented, involved in schools and community. They're the ones with the bandaid when you need it.

- Generally very caring and supportive.

- Support roles in business typically but not always.

- Beware of the versatile amiable competition! They are secretly very effective.

You win by:

- Listening, even if their stories are long or seemingly not relevant. It's important to them or they wouldn't be telling you.

- Asking questions and listening closely to their answers. They can be very telling about what's most important to them.

- Giving them lots of time to think about things without risking them losing out. This can be a delicate balance.

- Share your testimonials. Amiable personalities are very likely to actually call or email your testimonials.

- Eat what they offer you, compliment what they made.

- Lots and lots and lots of communication!

- Allow them to get to know you without getting too personal.

MUST KNOW: What Is Your DISC Personality Profile? (Take The Test) - Part 2 Jul 04, 2023

Show notes

Today is part 2 of 3, DISC Personality Profile real estate training and coaching. Let's get to understanding these personality styles. To keep it practical and tactical, we'll first look at how you win and how you lose with each, specifically with regard to real estate appointments and transactions. Put these notes in each quadrant.

The Driver Personality Style: Direct and Introverted.

- Often they are entrepreneurs, CEOs or managers, or other positions of authority.

You win by:

-Showing up on time.

-Being direct.

-Being prepared and professional.

-Asking pointed questions to understand their needs.

-Showing how you'll deliver results.

-Being factual and accurate and not full of fluff.

-Send bullet-pointed, short emails.

-Deliver on your promises.

-Close for their business.

You lose by:

-Showing up late or rescheduling, especially more than once.

-Not being prepared so you seem to be winging it or taking their business for granted.

-Sending long, text-heavy emails or lengthy voicemails.

-Not following through on what you said you'd do.

-Being assumptive versus factual.

-Looking unprofessional, too casual, or disheveled.

-Not asking for their business.

-Taking too long at your appointments / selling with blah, blah, blah instead of just blah!

The Influencer / Expressive Personality Style: Direct and Extraverted.

-Life of the party types. They know everyone, are super social, very relationship-oriented. Party organizers.

-Tend to be aspirational and move a lot.

You win by:

-Letting them be more dominant, especially if you too are expressive.

-Being fun and responsive to them.

-Know what they most desire and deliver it. Often this is to be in the same neighborhood as their friends or colleagues.

-Compliment, compliment, compliment! They love attention!

-Accept their gifts and praise with enthusiasm.

-Don't assume they write down or remember important things in the transaction or process. Confirm a lot and ask them to put it in their calendar, etc.

-Showing more than telling.

You lose by:

-Trying to be more dominant.

-Being too quiet or aloof.

-Assuming they read your long email or remembered your long voicemail.

-Trying to sell them something they can't afford. This will make them embarrassed, disappointed, etc.

-Being negative. Expressives are social and upwardly mobile types who like to have fun and share in group experiences.

-Being too analytical. Not spreadsheet types.

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MUST KNOW: What Is Your DISC Personality Profile? (Take The Test) Jul 03, 2023

Show notes

Today is part 1 of 3, DISC Personality Profile real estate training and coaching. The DISC Model of Behavior was first proposed in 1928 by William Moulton Marston, a physiological psychologist, in his book Emotions of Normal People.

LIKE and SUBSCRIBE AND PLEASE LEAVE A COMMENT: https://bit.ly/3NXGxNb

FREE REAL ESTATE SALES TRAINING AND COACHING: Enroll NOW, FREE Real Estate Coaching and Training: https://bit.ly/3aUimkh

COMPLETE Show Notes and Podcasts: https://bit.ly/3twGrDX

LATEST REAL ESTATE NEWS: https://bit.ly/3Obuhs2

LIKE and SUBSCRIBE AND PLEASE LEAVE A COMMENT: https://bit.ly/3NXGxNb

FREE REAL ESTATE SALES TRAINING AND COACHING: Enroll NOW, FREE Real Estate Coaching and Training: https://bit.ly/3aUimkh

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We would love to be your sponsor at eXp Realty.

Text TIM HARRIS directly to be sponsored by Tim and Julie Harris 512-758-0206.

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MORE REAL ESTATE TRAINING VIDEOS YOU WILL LOVE:

Peter Schiff Interview: https://bit.ly/3aXC1zN

EXP Realty Explained: https://bit.ly/3mGBVyV

Housing Bubble Popping?: https://bit.ly/3MK62A7

Housing Crash Survival Guide: https://bit.ly/3zxoyZD

5 Must Know Success Rules For This Market: https://bit.ly/3QeSbVv

Real Estate Agent New Mortgage Rules: https://bit.ly/3zCjSld

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"Our real estate journey began 30 years ago and we knew early on that we wanted to share our playbook to success. We've had the pleasure of transforming thousands of careers achieving success and financial freedom. We know what it takes and we're looking forward to meeting you so we can jumpstart your growth!"

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