For Real Estate Professionals

The Biggest Holes in Your Real Estate Training – And How to Fill Them

Most newly-minted real estate agents know just enough to be dangerous. Seriously. The licensing materials and introductory real estate training you get when you sign on with a broker are terrific, but they are mostly designed to keep you and your broker out of trouble. They are just the tip of the iceberg of what it takes to be successful in the real estate business.

The biggest holes in agents' real estate training - and how to fill themWhen you step out of the broker training and you’re finally ready to work with the public and turn your prospects into happy clients, you will still have some gaping holes in your training. Here’s a look at some of the biggest ones.

Tax Compliance

Most real estate training hardly mentions it. And your tax compliance issues aren’t your broker’s problem. So don’t expect too much help on this issue.

New agents should know: Real estate agents may be under extra scrutiny by IRS agents and auditors. Why? Because the IRS knows that agents, like other independent outside sales professionals, claim a lot of business expenses and deductions. Incentives to fudge them on your individual tax return are strong. So the IRS keeps agents honest by calling them out more often to demonstrate that their claimed deductions are legitimate.
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7 Signs Your Seller’s About to Self-Destruct

Jovan Hackley
October 20, 2014

Before a sale goes sour, there are signs. Some of the are as clear as dial-tone in your ear. Other signs are subtle, sneaky, and creep up on you and your sellers like a venomous transaction-killing spider ready to murder your commission.

Don’t let your clients and deal fall prey to these seven serious signs that signal seller self-destruction:

1. Hearing Impairment

The clearest sign that a seller is bound—or about—to self-sabotage is when he or she stops listening to their agent. If you’re recommending a price, repair, staging or other advice and are always met with objection, start the countdown to meltdown.

2. Concession Sores

Serious sellers are willing to go the extra mile to get the deal done. If you hear resistance to paying closing costs, making repairs, or extreme nervousness about the home inspection at the start of the transaction, you may be in for a rough or impossible ride. continue reading

7-Day Lead Conversion Plan: Building Your Pipeline All Year Long

Erin Renzas
October 20, 2014

When it comes to the fall and winter seasons, you need to do everything you can to keep your business booming all the way through the end of the year. Do you have a strategy for turning your leads into real-world clients?

How you respond to and manage your leads can be the difference between a closed deal and a missed opportunity. But knowing how to make a stellar impression and engage a lead can be a challenge. With this 7-day action plan, you can master the smart strategies that will help you convert your leads to
clients.
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The Pros and Cons of Closing Gifts

Taking a look at the pros and cons of closing gifts, and why real estate agents give them“I think I’ll send my new patient a $50 Macy’s gift certificate to thank her for allowing me to perform her annual physical,” said no doctor, ever. Come to think of it, my hairdresser, accountant and lawyer have never gifted me, either.

Yet real estate agents, somewhere along the line, came up with the notion that they absolutely must provide a closing gift to clients. Who thought this one up? Nobody really knows.

However, the agent that first gifted a client must’ve found the practice successful, because it was quickly copied and has now become standard practice.

Does giving a gift to a client make you memorable? If that was the case, more service industries would probably take up the practice. I don’t know about you, but I return to my hair stylist every month because I love the way she cuts my hair. My accountant saves me money on my taxes. So, is it the gift that makes clients remember you, or was it your performance?

Let’s take a look at some of the pros and cons of giving closing bribes – err, I mean, gifts – to real estate clients.
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31 Secrets Real Estate Agents Never Tell Clients

Colleen Egan
October 18, 2014

As a real estate agent, you become an expert in the art of smiling and nodding, of keeping calm and carrying on. But beneath your friendly, professional demeanor, you’re mentally tallying up those little demands, and keeping mum about your own hush-hush opinions and tricks of the trade to keep the deal on track. Here, agents spill their guts (anonymously, of course) about what they will never, ever say to their clients’ faces.

1. We bite our tongues so often that we have scar tissue.

2. No one knows what prices will be in three years. We wish we did!

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The Truth About Winter Real Estate

Some call it the off-season for real estate, but successful agents know better. Winter is actually a great season to sell a home. If you aren’t telling potential clients about the winter real estate advantage – right now – then you will have an off-season this winter.

Numbers Don’t Lie – Winter Isn’t so Bad

the truth about winter real estate - why it's not a bad time to sell a homeNational Association of Realtors® statistics tell us that fewer homes sell in winter than spring. Their studies show that in November, home sales slide about 8 percent. In January, they slide even more – 27 percent to be exact. These numbers make sense: Fewer homes are on the market in the winter, so naturally, fewer homes sell.

The media often steps in and trumpets these statistics, adding their own take as to why. If they told the whole truth, I have a feeling we’d have far more winter clients.

What is the whole truth about winter real estate? Homes are more likely to sell in winter than at any other time of year. Not only that, they sell quicker and they sell for more money. These statistics hold, at various percentages, whether the home is in balmy San Diego, Calif., or snowy Washington D.C.
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6 Secret Reasons Fall Buyers Hate Homes

Erin Renzas
October 14, 2014

Sometimes, even the most well-intentioned sellers forget that the point of marketing and staging their home is to impress as many potential buyers as possible. One wrong move can lower the sale price, or even worse, prevent a sale at all. Make sure your sellers are serious contenders by helping them steer clear of these somewhat surprising buyer turnoffs this fall.

1. A Hyper-Hovering Homeowner

Buyers stalk properties online and off, checking obsessively for price reductions and the like. But buyer-side home stalking is unobtrusive to sellers. On the other hand, buyers can feel stifled in their ability to fully explore or verbally process their impressions of a ƒhome when the seller hangs out inside the home while it’s being shown.

What Sellers Need to Know:

Prospective buyers may not feel comfortable talking openly with their co-buyers or agents with the homeowner there, and may not open doors and drawers in front of the seller—potentially missing some of the home’s best features. Sure, a homeowner knows what makes the home shine and can answer questions, but so can a great agent. Trust him or her to communicate what makes the home special.

2. Weird Wacky Wallpaper

Sometimes it’s the little things that sellers think won’t matter that can block an offer. Of course, when inventory is low, sellers may have a better chance of snagging an offer despite design snafus, but when the home buying season slows, it’s in a seller’s best interest to heed the advice of their agent and get their home in tip-top shape. And nothing—nothing!—is a more hated design choice than weird, wacky wallpaper. continue reading

5 Myths About Mega Producers

Colleen Fischesser
October 13, 2014

Mega real estate producers are an enigma. They have secrets, and magic formulas and know things the rest of us don’t, which is why they’re so much more successful than everyone else, right?

Ironically, some of the biggest myths misconceptions about top producers are also the biggest reasons many agents don’t and won’t ever achieve that level of success.

So what separates those big fish from the smaller fish in the proverbial real estate pond?

Two words: attitude and belief.

Success starts with attitude and belief—or in some cases, success is stalled because of attitude and self-limiting beliefs. continue reading

Real Estate Mailers – Strategy and Best Practices

Learn professional strategies and best practices for real estate mailersNobody likes junk mail. However, consumers respond to junk mail enough that it is still worthwhile to send “good” marketing mail. That is, only send mail that’s relevant, readable and targeted.

And to do that, you’ll have to do your homework. One size fits all, cookie-cutter approaches from the home office don’t cut it anymore. If you don’t plan out your mailing campaigns and integrate them into an overall prospecting and marketing strategy, they are unlikely to help you much – and may even hurt you.

Here are some key strategies to developing real estate mailers that will put money back in your pocket, instead of just costing you the stamp money coming out of it.

Define Your Unique Value Proposition

Your unique value proposition, or UVP, defines what you can do for your customer that is difficult for anyone else to do. It establishes a compelling reason for customers to do business with you, personally. If you can’t define what your UVP is, why should anyone be loyal to you or refer friends to you, over other agents working in the area?
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You Told Us! 10 Agents You Love to Hate and the Best Ways to Deal

Jovan Hackley
October 10, 2014

Recently, we took to social media and asked real agents to get real and tell us: When you’re working with other agents, what are the little (or big!) bad habits that drive you crazy?

You told us! They may be the minority, but—as with every industry—sometimes agents have to work with other agents who can cause some major headaches!

Luckily, there are some simple solutions for dealing with even the most rage-inducing situations. Check out the list and a few friendly tips to help you have a positive transaction—no matter whom you’re working with!

1. The Agent Who Could Use a Little More Training

Expertise and experience are two different things. Unfortunately, many of you said that there are too many agents that are simply under-trained and it can show during the transaction.

The Easy Fix: There’s a ton of education available on- and offline in the form of agent training webinars, classes and conferences that can help. Causally mention a great class or resource that really helped to take your business to the next level. You never know. They may end up acting on your recommendation. continue reading