You’ve got one big job in 2024: Create a new buyer presentation. Your 2024 buyer presentation needs to include information about and around the NAR settlement. You don't have to talk about the settlement per se, but you have to adapt based on the settlement. If you had a buyer presentation that you're using in 2022 or 2023, you have to rebuild it now. Some of you don't have one at all. But it shouldn't be difficult to build one because we do one with listings all the time. But I get it. It's new and it's different. So, it’s going to be a little bit uncomfortable. So lemme give you some languag ..read more

So the NAR settlement, what does it mean to you? What should you do today as an agent? First of all, what does it mean to us? Here are three big things it means: 1. Buyer comp is not going to show up in the MLS as of mid-July. If this is approved, it probably will be. 2. You're going to have to sign with your buyer a buyer representation agreement, which says how much you're going to get paid. 3. It's going to outline the fees that are going to be paid to you by the buyer. Now, that doesn't mean that the seller can't pay. This is the biggest misconception of this. Just because the fee is not g ..read more

In the real estate industry, there are two types of ghosts: The first occurs when a buyer initiates contact but then disappears. It's common, but we shouldn't ignore it. Instead, we should follow up with these individuals after some time has passed. More often than not, they simply got busy, not because they disliked us or found another agent. Reaching out with a call, text, or email is essential. We should inquire politely about their home buying progress. Even if they ghost us again, it's not a big deal. Let's not fear this type of ghosting and continue to pursue potential leads. The second ..read more

Last month, 32% of all transactions closed involved a cash buyer. If you stack up a cash buyer against a finance buyer, as a seller, which one would you prefer? Probably a cash buyer. Financing has hurdles: the buyer has to qualify, the home has to qualify, there's appraisal and underwriting approval. So, if I had the choice, I would probably want to take a cash buyer. But how do we incentivize this? Most agents aren't having this conversation with sellers. Would you like to incentivize cash buyers to make offers on your house? Why? Because with a cash buyer, you're not dealing with qualificat ..read more

Hey guys, want to increase your referrals by 24%? It's simple, and it comes from the American Marketing Association: When you ask for a referral and attach a reward to it, your referrals increase by 24%. So, what rewards work best? Cash, consumables like wine or coffee, right? But here's the issue with consumables most people overlook: They're forgotten once consumed. That’s why I prefer giving experiences… An experience sticks with you. It's memorable. For instance, for a couple who refers a great client, I might reward them with a night out at a local restaurant. Personalize it with a note ..read more

Hey guys, let's talk about asking for generosity from your clients, specifically in the form of referrals. I'm going to share two or three strategies that should feel natural to you because referrals are the number one way to generate business. Remember, when people are going through a transaction, there's a four times greater likelihood they'll refer you because it's a natural part of the conversation. So here's the deal: you've got to train them, you've got to coach them. Try this scripting: "Now that you're buying or selling, I'm sure some of your friends are going to be jealous. If you run ..read more

As we gear up for the bustling spring and summer real estate market, it's crucial to leverage our networks effectively. How do we elegantly request referrals and direct business? Enter the real estate resume strategy. Just like crafting a resume for traditional employment, create a polished document highlighting your real estate expertise: experience, market performance, education, skills, testimonials, and office history. Distribute this resume physically and via email to your entire database. Accompany it with a cover letter emphasizing your readiness for the busy season and encouraging reci ..read more

Hey folks, did you know 23% of homeowners in the US are planning to sell their homes within three years? That's a massive pool of potential listings right in your community. How can you tap into this "shadow inventory"? Well, here's a winning strategy: a personalized letter campaign. You're already farming neighborhoods, right? So send out letters, but make them different this time. Start with a simple question: "Hey, Mr. and Mrs. Homeowner, is this the last home you'll ever own?" It's a magic question because regardless of age, people always think there's another move ahead. Then, explain tha ..read more

Why do people try FSBOs instead of listing with a REALTOR? The answer might surprise you… A lot would assume it's all about commission, but only 40% of sellers do it for that reason. That means 60% don't! Another interesting fact: Only 5% of people will never use a REALTOR. The othere 95% are open to it. In fact, did you know 92% of FSBOs will end up working with a REALTOR? The question is: Will it be you or your competitor? You need to reach out to them. There's a 4-6 week incubation period for most FSBOs. So, commit to working with them for that time. When calling them, use this magic senten ..read more

Question: Should you have your own podcast? Absolutely! It's a powerful tool to boost your influence and authority in your local market. By focusing on your niche, you become an expert and build authority over time. Another benefit? You can connect with influential people in your community. Create a list of top movers and shakers and invite them to be guests on your show. It's a win-win—you'll elevate your podcast's status and forge valuable connections. Podcasting is straightforward—all you're doing is asking questions. Make it easy for your guests by providing a list of questions b ..read more