Real Estate Coaching Radio

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The Truth: Top 7 Easily Avoided Reasons Most Agents Fail Jun 16, 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.

Today we're discussing the 7 top reasons that most real estate agents actually fail out of the business. According to the National Association of Realtors, 87% of licensed Realtors FAIL out of the business in 5 years or less. That means only 13% survive. Why is this and how can you be part of the 13% not just surviving but thriving?

Reason #1: Absolutely no accountability of any kind. Most agents were previously either in school (lots of accountability) or were a W2 employee working at a 'normal' job (daily accountability). Now you're in a 1099, independent contractor world. Most agents become immediately TOO independent and can go months without knowing what to do, when, or how to do it. Sporadic work equals sporadic income.

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/

Reason #2: Confusion about where close-able, motivated buyer and seller leads actually come from. This starts when new or newer agents have a couple of fairly easy deals right out of the gates, almost always friend or family deals. That makes it easy to believe that all your deals will always come easily and always from people who already trust you.

Once that runs its course, agents wait too long to become proactive or start spending money they don't have on things that won't work or won't work quickly enough. Close-able leads come from people who clearly need your help. Refer to our podcast, Real Estate Agents 90-day Money Making Plan, and the countless other podcasts we have regarding proactive lead generation!

Reason #3: Relying on luck, hopium, and speculation instead of sales skills. Stop spending your hard-earned money on things that are not directly related to closed transactions.

Reason #4: Not leading with profit. Your product is profit. Every day, you make the decision to run a not-for-profit organization or a for-profit. Which one depends on the actions you're taking. Refer to our podcast about your success schedule. Activities that lead to profit in real estate are Proactive Lead Generation, Furiously Fast Lead Follow Up, Prequalifying, Presenting, Negotiating, and Closing. The whole list is dependent on one activity: Proactive Lead Generation.

Reason #5: Lazy lead follow-up, overly complicated communication methods. If you're not using lead follow-up scripts, buyer and seller pre-qualification scripts, and furiously fast in your follow-up, you are on track to be part of the 87%. If you're ending any day with leads you've not CALLED, you're a lazy lead follow-er-upper!

Reason #6: No business plan, no business coach, and little exposure to success. Influencers on Instagram and YouTube don't count. Birds of a feather flock together...if you're hanging out with a bunch of new or unproductive agents, you feel like that's normal. Instead, follow and emulate the successful!

Reason #7: Failure to save and failure to pay taxes. Glenn Sanford, the founder of the fastest-growing Real Estate brand in the world, said that agents are historically terrible at those two things.

Tim and Julie Harris's Second Half 2023 Real Estate Predictions Jun 15, 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.

1. Commissions will continue to go up, not down.

2. Buyers who remain in the market are more serious and more qualified, with less competition. They are, however, more educated and motivated enough to find inventory without you, so be careful that your buyers aren't more aggressive than YOU are in finding their dream home.

3. House flippers will go away. Their margins won’t be great enough. As of this podcast, Redfin reports that 49% of investor buyers have stopped buying.

4. Low-margin brokerages and teams will either right-size or go out of business. EXP is growing exponentially as a result.

5. Due to higher interest rates, creative mortgages will return as well as more government loans with looser standards. Rates will eventually settle into the mid-6 % range and rate hikes will stop.

6. The Macro trends of people moving to the countryside and secondary markets will continue. Voluntary simplicity and Starlink are of course factors contributing to this. The secondary markets that are still close to big cities will continue to be popular, and a good place to invest.

7. Appreciation / Inflation / The growth rate of home prices will average out to about 5% in 2023. Remember that according to Case Shiller, between 2020 and 2022, the average home price grew 45%!

8. Employers will have to allow for continued remote working in order to keep their best employees. This will continue to put stress on Commercial Real Estate, driving up vacancy rates, especially in urban environments. Look for interesting conversions of those spaces.

9. For Sale By Owners will list more quickly with skilled Realtors, thanks to fewer qualified buyers and the complexity of the market.

10. Some of the ‘convenience companies’ that emerged during Covid won’t be viable anymore due to higher gas and food prices. Boxed.com has already filed for bankruptcy.

11. The quality of leads you’ve been buying will continue to deteriorate and become an even worse investment. The cost will skyrocket even as the quality nosedives. Some agents will go not just get out of the business as a result but quit the business owing money on their credit cards thanks to their speculation on leads.

12. Agents and brokers who are unwilling to adjust to the new market, requiring new skills will wash out of the business. This includes pricing skills, being able to compete for scarce listing inventory, and utilizing strategic prospecting to find the right homes for qualified buyers. Listing presentations will become much more competitive as sellers become more careful and picky. It will become more and more a skills-based market and less relationship-oriented.

13. Agents must embrace more proactive lead generation and will be greatly rewarded for doing so. It’s faster and more effective. The agents with pending transactions now, FOUND the business, played matchmaker, and created their transactions. They're not dependent just on the MLS!

14. Agents will have to be much more exact in their pricing strategies or wind up with an expired listing or be fired before it expires.

15. No one cares more about your success in real estate than Tim and Julie Harris and all of our Harris Certified Coaches!

To thrive in the rest of 2023, get involved today in Premier Coaching. Simply go to PremierCoaching.com and become a member for free. It only takes a minute to join!

Proven and Tested YouTube Ideas That Work Now Jun 14, 2023

Show notes

On today's show, we're presenting to you the top videos you should be posting to your Realtor Social Media sites, especially on YouTube. When you create each video, you'll use it on not just YouTube, but the same video will go on Facebook and Instagram. This keeps your message consistent and efficiently keeps all 3 assets updated.

YouTube is the most important place to post because your videos will then be searchable on Google. If you don't know how to use YouTube yet, refer to our podcast about YouTube for Realtors.

On to our Top Topics for Professional Real Estate Agents to Post on Social Media, which, when done consistently, should create listing and buyer lead generation for you. We'll get to that in a moment. First, a few quick notes for you to keep in mind before you film.

Note #1: when you're filming any property, your listing, or someone else's, be certain you have written permission to film!

Note #2: Each video must have something of value plus a call to action. A call to action, or a CTA is where you ask the viewer to DO something. Call you, text you, comment below and ask questions.

Note #3: You don't have to go out and get a bunch of equipment. Use your iPhone videos or iMovie to get started. DONE is better than perfect, so don't use analysis paralysis as your excuse to procrastinate.

Top 16 YouTube Realtor Videos That Generate:

1. Market Updates. These need to be done every month. Break down price ranges, and zip codes and report the highest sales in specific areas. The average list-to-sell price ratio, days on the market, and trends. This information can be found in the email reports your Board of Realtors sends to you every month! (Do you open those? Nice charts and graphs you can include in your video description!)

2. Video walkthroughs of your current listings and coming soon listings. This is great for generating leads for you AND creates obvious value for your sellers. Video is vastly superior to a slide show. Slide shows are outdated.

3. Drone footage of your listings. Show the neighborhood amenities as well as the home.

4. Do a video preview of your upcoming open house. Post it on all your social media assets as well as email to your database.

5. Showcase model homes in new construction communities. Highlight the builder and what makes their product special. What's the price range, production time, and amenities? Do they have spec homes for sale? Do this for ALL new construction communities in your area. Use Google and NewHomeSource.com to find them.

6. Educational / Informational videos on specific topics for buyers and sellers. Examples: How does a rate buy-down work? Is new construction for me? What is required to apply for a home mortgage? Top 5 ways to stage your home for sale, What to expect from a home inspection, etc.

7. How to sell your house without a Realtor in your town (fill in the areas). This is actually a list of all the many, many things YOU do to get a home sold, mentioning things like pre-qualifying showings, staging the house, using legal forms, transaction coordination, liability, etc. For Sale by Owner lead generator!

Instant Income: 5 Ways to Get Your Buyers In Contract This Week! Jun 13, 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.

Today's podcast will give you 5 Ways to Get Your Buyers In Contract This Week!

a) You have buyers in your pipeline who are both motivated and qualified. 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.

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.

c) You're motivated and ready to get into action. You're tired of the hamster wheel of showings, bidding, and missing out.

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.

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!

*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.

WARNING: 2023 Housing Market

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*We will also explain how to systematically approach each source, and recommend resources and discounts for you.

REALTORS: Your Proven Plan To Get 5 Referrals Now $$ Jun 12, 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.

Today's podcast will give you an exact plan to generate 5 referrals from your friends. COI and past clients now.

a) You have your contacts organized in some sort of CRM. The best CRM is the one you know how to use! (If you're with EXP, use KV Core).

b) You are coachable and will follow this plan exactly for 5 weeks, no excuses, modifications or exclusions!

c) You aren't interested in throwing your money away on random leads or impressions and you'd rather be nurturing people who already know you! Those are your friends, past clients, professional sphere of influence, and new people you meet and add to your database.

THE PLAN. How to Get 5 Deals in 5 Weeks:

1. Record one simple and short video. In the video, you will do two things. First, a simple market update. You can find this in your weekly or monthly reports from your Board of Realtors. Next, you'll offer to send a free, comparable market analysis to see what their home is worth in today's market. Text or email you to receive your free analysis asap! Send this video to everyone in your CRM.

*Even if you haven't organized your database yet, you can still send it to at least 100 people in your smartphone contacts.

*When you get a request, first CALL the person before you do the analysis. Ask why they are curious: interested in selling, or refinancing or are they just curious?

2. At least two times per week for the next 5 weeks, take a past client to coffee or lunch. Use your F-O-R-D script (Family/Occupation/Recreation/Dreams) to get caught up with them and be sure to ask who they know who could use your help buying or selling real estate.

*Bonus if you can meet at another past client or friend's coffee shop / ice cream shop / bakery or restaurant! Connect your sphere of influence whenever possible!

3. Make FIVE Contacts per day to your past clients and sphere of influence, five days per week for five weeks. A contact is a conversation with a decision-making adult about real estate.

4. Go to at least THREE meetups per week and talk about real estate. These can be organizations, clubs, going to the gym, volunteering, or taking classes on something you're interested in.

*For example, 2 times per week at Orange Theory or CrossFit, attending your HOA meeting and going to your kid's school event.

*Bonus if you can make your meetings about real estate in some way: Maybe you'd like to be involved in your town's historical society or architectural review committee. Mix it up so you meet more people. Add them to your CRM.

5. Send at least FIVE handwritten cards per day. Send thank you or congratulations cards. Use Social Media to get ideas. Who has just gotten a promotion, gotten married, had their kids graduate, recently moved or has a birthday?

*Use quality stationery and commemorative stamps so your card looks more like an invitation and is sure to be opened!

ALWAYS follow up by PHONE and with urgency when you get responses to these five strategies!

Stick to the plan 5 days per week for 5 weeks and report your results back to us! Message us on Instagram or email us directly!

If you'd like even more support and camaraderie as you implement this plan, simply join Premier Coaching by visiting PremierCoaching.com and signing up for free today.

Part Time (or NEW Agent) Money Making Guide Jun 09, 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.

Real Estate agents, today we'll discuss how to make full-time money working part-time in real estate.

This is for all of you who are working part or full-time jobs and want to also be successful in your real estate business.

It's also for all those full-time Moms and Dads who are raising kids and don't have 'full-time' hours to devote to real estate careers.

Some of you are in the military or you're keeping the old job because it has great benefits. Whatever your situation, here's your step-by-step guide to making full-time money even if you don't have 40 hours plus per week to devote to your real estate business. So pay attention, take notes, and get into action!

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Top 5 EXPIRED LISTING Myths Debunked Jun 08, 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.

Fact: Expired listings are the single greatest opportunity to accelerate your success this year. You need listings. Listings generate more listings AND more buyers. Expireds clearly want to sell, many MUST sell, and all have shown a willingness to list!

Fact: Expired listings allow you to curate your listing inventory, raise your average sale price if you wish, choose where you want to do business and create many, many more opportunities. Your best advertising is a SOLD sign...or MANY sold signs!

Fact: Getting great at listing and selling expired homes has additional benefits. You'll learn to go after business and get better at your scripts, improve your closing skills, and polish your pricing strategies. The more skills you acquire, the more transactions you'll do and your confidence will soar as a result.

But first, let's clear out the cobwebs from your Expired Mindset. There are at least FIVE myths that agents like to use as an excuse not to go after this goldmine.

MYTH #1: Everyone is calling them.

FACT: #1: Everyone is NOT calling them. Take you for example; you're a smart agent - how do we know? Because you're listening to this podcast right now. You're probably even taking notes! And we have to convince YOU to call Expired sellers. Imagine what the average, less-than-motivated, excuse-making agent is doing. They're NOT calling. Why? Because they also believe all of the next four myths!

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MYTH #2: You have to be super aggressive on the phone to set appointments with expired sellers.

FACT #2: Yes, you do have to use powerful and proven scripts, but no, you do not have to be super aggressive or use witchcraft, alchemy or Jedi mind tricks to set appointments. Earn while you learn. You have to be 'ok' to 'good' to set appointments with expired homeowners, but you don't have to be perfect. You're speaking to people who clearly need to sell... you sell homes for a living...it makes sense for you to have a conversation. A script is simply a conversation outline, finding out facts about the homeowner's situation and needs, so you can solve their problem.

MYTH #3: You can't find phone numbers.

FACT #3: Use RedX to find phone numbers. Stop playing the forensics game all day and hire the professionals to get the intel you need. Text the word RED to 47372 to get your discount and allow the folks at RedX to find the history and phone numbers of all the Expireds you desire!

MYTH #4: Expireds are all hugely overpriced or they wouldn't have expired.

Summer 2023: Real Estate Agents 90-Day Making Money Plan Jun 07, 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.

90-Day SUMMER ACTION PLAN

Fact: The next 90 days are critical to your success this year. More people move during the Summer than any other time of year.

Fact: There is more inventory in the next 90 days than at any other time of year. Make hay while the sun shines!

Define what it will take to have the best 90 days you've ever had in real estate. First, you'll figure out what you HAVE to make in real estate, then you'll add your goals, and finally, you'll know how many transactions are necessary to create the best 90 days in Real Estate you've ever had.

*For the fill-in-the-blank 90-Day Massive Action Plan, join Premier Coaching today by visiting PremierCoaching.com and signing up for free!*

This is a podcast, it's not coaching. We're giving you the gist of the Plan, not the coaching, drill-down, or implementation of the plan. For that, you'll need to join Premier.

PART ONE: Make the commitment. Be definite with your dates. Keep the time frame as close to 90 days as possible.

My Plan begins on this date: _____/_____/_____.

It ends on this date: _____/_____/_____.

During this time frame, there are _____ work days and _____ non-work days.

My financial goals are the following:

1. Income required to pay my basic personal overhead: $__________

x 3 months = $__________

2. Income required to pay my basic business overhead: $__________

x 3 months = $__________

Answers added together equal my MINIMUM required income, just to pay your personal and business bills: $__________. Take this figure and divide it by your average NET commission. This equals the number of transactions required over the next 90 days to pay my bills.

____ transactions.

*If you are brand new and don't have an average net commission, use the average sale price for your area, figure the average net commission for that price and use it for your goal setting.

PART TWO: Set some new, powerful, and meaningful goals in 5 areas of life.

(Refer to the Real Estate Treasure Map for full exercise).

GOALS must be 'SMART': specific, measurable, attainable, realistic, and timely. They must be written down and posted for you to see every day.

SOME goals will cost money, some will cost time, and many will cost both. You'll have lots of goals in some areas and just a few in others. That's normal. Your goals are personal.

Physical Goals: (examples)

-Achieve your ideal weight.

-Achieve healthy nutrition.

-Hire a personal trainer.

-Achieve a minimum standard of exercise daily, ie, number of reps, etc.

-Track your progress and have an accountability system.

Educational Goals: (examples)

-Join Premier Coaching or Upgrade to Elite Coaching

-Learn and use the scripts you have in Premier Coaching

-Polish your Listing Presentation and Buyer Presentation

-CE Credit: Appraisal class

-Watch or listen to 3 new podcasts or audiobooks weekly

Family Goals: (examples)

-Vacation(s) or Staycation(s). When, where, and how?

-Family fun night/dinner / Sunday brunch.

-Movie night, weekend hikes, other family activities?

-Reconnect with friends and family.

-Get these into the calendar or they won't happen!

10 Steps To Massive Motivation NOW! Jun 06, 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.

Powerful motivation mindset Secrets of the Most Successful Realtors

We often get asked by coaching clients and podcast listeners to help them with their mindset and motivation. How do the most successful agents stay positive and keep their momentum? We'll share some of the top strategies and secrets on today's show.

1. The most successful Real Estate Agents are constantly analyzing their Return on Investment regarding how they're spending their time and money. Both informally and formally, they're always thinking about it.

For example, they don't spend countless hours making gazillions of contacts doing 'circle prospecting'. Instead, they operate like Real Estate Navy Seals, going on prospecting 'sorties' by calling only the most motivated listing prospects, being furiously fast on their lead follow-up, and making strategic alliances with prospects who offer multiple listing opportunities. (such as builders, probate attorneys, and investors).

2. The most successful agents quickly eliminate any speculative, fluff expenses. Anything that is not obvious, irrefutably resulting in transactions has to go, or better yet, not be tried in the first place.

For example, throwing up some Tik Tok videos is speculative. Calling your past clients and open house leads is NOT. Investing in RedX is not speculative when you use their data to contact sellers of expired listings!

3. The most successful agents are aggressively isolating themselves from the media. They are making their world smaller regarding who is influencing them. They practice a media-free morning or even media-free life, curating only the best, most content-rich, mindset-supporting podcasts.

4. They are constantly monitoring their own internal dialog. Has negative thinking entered their mindset? They are self-aware of the unintended consequences of allowing one negative thought to manifest and they actively replace those thoughts with more productive ones. 'I'm a doer, I do things now, I get things done!'

(Elon Musk's comment about just getting things done versus getting in a rut or losing his motivation)

5. They are increasing their contacts. They have more conversations with more prospects, covering more spokes in the wheel, versus waiting for the next referral.

6. They have distinct early warning signs that they look for within themselves. Examples: not exercising, not making contacts, overconsumption of negative media, poor nutrition, oversleeping, etc.

7. Because they're rooted in a mindset of service, they are genuinely excited and appreciative of the opportunities in the market. There are so many people who genuinely need help and they are there to be of service. They use the script, "Who do you know who could use my help buying or selling real estate?" all the time, and as a result, their flow of business is consistent.

8. They know that knowledge = confidence and ignorance = fear. Thus they are constantly increasing their skillset so they can increase their confidence. They have a proven Pre Listing Package, Listing Presentation, Buyer Presentation, Scripts, and Systems.

HELP! My Real Estate Listing Hasn't Sold!! Jun 05, 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.

Real Estate Agents: This is Why Your Listing Hasn't Sold! Today we'll discuss the six specific reasons (yes, PRICE is one of them) that are probably causing your listing to sit on the market.

FACT: Homes are either selling immediately or sitting on the market for 30, 60, or even 90 days. Don't let your listing expire, and don't get fired. Be the listing agent when it SELLS.

Before we examine all of the factors, let's keep it real. The one thing that overcomes ALL of the underlying reasons a listing isn't selling is, of course, price. However, the fastest way to get yourself fired from the listing is to always make it all about price.

No seller ever wants to hear the phrase, 'time to lower your price'! Let's take a look at the big picture first. (Premier coaching clients, you have the Listing Evaluation included in your coaching program).

To get your Listing Evaluation Tool, sign up for Premier Coaching today by simply visiting PremierCoaching.com. It's free to sign up and will only take a few minutes. You can do that while you listen!

6 Factors that Make a home sell... Rate each of these on a scale of 1-10 and you'll know where you need to do the work to get it sold. A perfect score is 60, but if your listing isn't selling, it's not likely to be scoring that high.

1. Condition. When there is little competition, and more buyers than sellers to go around, condition matters less. As more listing inventory arrives on the market, especially if any of it is new construction, the pressure increases to present your listing in its best light. Even if you're the only home for sale in the MLS code, you owe it to your sellers to help them stage it to get the best results. They'll sell faster and for more money. Rate your listing's condition on a scale of 1-10.

What makes your condition rating low? Any or all of the following, and we won't even be super gross here...We are SURE you'll have more to add, based on your showing experience and listing experience!

-Questionable smells, or possibly worse: unidentifiable smells.

-Identifiable but gross: cat pee, dog poo, curry, cigarette, or cigar smoke.

*Invest in an air ionizer from Amazon or remove the carpet/furniture, etc that's causing the odor. Stop waiting for a buyer who loves the smell of cat pee or doesn't notice the smoke odor.

-Bugs. -Mold or mildew in the bathrooms, kitchen, or basement.

-Rodents/rodent droppings. -Dirty floors. -Clutter-covered countertops.

-Crusty-looking appliances.

-Dirty window screens. -Terrible or boring curb appeal. -Dead grass. -Weeds

-Green pool. (And the list goes on. Refer to the Proven Home Selling System if you're a Premier Coaching client for the 'How to prepare my home' guide).

Note: price will overcome the condition every time.

2. Location. You can't change this, so just rate it on a scale of 1-10. A low rating for a house that backs up the freeway or sits at an intersection with a stop sign or lights right there. A low rating for a scary neighborhood or a hoarder next door. In the flight path or near a busy railroad crossing. A great location is a safe neighborhood with sidewalks, and tree-lined streets that everyone wants to move to. Note: price will overcome location.

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