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Thursday, May 2, 2024

Lisa Gray

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Lisa is an accomplished marketer with years of expertise in direct response marketing, digital marketing, data analytics and business development working with both B2C and B2B.

    Welcome to real estate, rookie! Those world’s-most-boring-classes and the licensing exam were the prelude to what may just turn out to be a very lucrative and fulfilling business.

    But only if you get off to a good start and that’s just what we hope to help you with today. So, forget about sitting in a cubby, staring at a blank wall or a quiet phone and the background conversations that sound like a foreign language.

    You’ve got work to do!

    1. Choose your broker carefully

    You’ll need to “hang” your license with a real estate broker and, depending on the size of your town you may have slim pickin’s or so many you have no idea where to start.

    First, decide if you want to work for one of the big national companies, such as RE/MAX or Keller Williams, or if you prefer the small, boutique-style local brokerages. They both have their pluses and minuses.

    Since we advocate that you interview more than one broker, why not interview a couple of each of the above?

    Here are some questions you’ll want answers to:

    What split are you offering?

    This refers to your commission split. For each transaction (unless the broker represents both the buyer and the seller), the commission paid by the seller is split two ways. This means that the listing broker and the selling broker each get half the commission.

    Then, each broker pays their listing/buyer agent their agreed-upon share. Splits vary, but the typical rookie agent is offered around 50 percent.

    Is there a desk fee?

    This is basically rent for the space you use at the office. Not all brokers charge this fee.

    Do you offer floor time to agents?

    Floor time is a predetermined amount of time that you agree to be in the office to field calls (some questions can’t be legally answered by the receptionist, unless he or she is licensed) and to speak with walk-ins.

    Yes, it’s a hassle. But it may result in generating a lead or two and maybe even a buying client. It’s worth it if for no other reason that you’ll become accustomed to speaking with real estate consumers.

    Related: 5 Ways Agents Sabotage Their Careers
    What type of marketing are you doing?

    While you will definitely want to come up with a plan to market your business, marketing the company is the broker’s job. The more exposure the company gets, the better for each agent.

    Finally, ask about the broker’s training program for new agents. My first broker didn’t have a program but he spent lots of time with new agents weekly, teaching us everything from how to read the contract upside down and compiling fake CMAs to some scripts and dialogs he felt were effective.

    Once you’re with a broker you can join the NAR and the local association, so be prepared to shell out some significant bucks.

    1. Get business cards

    Many new agents order business cards through their broker, which is fine in the beginning. You will soon grow out of those, however, so don’t order too many.

    Get the word out and stay connected with a personalized business card (available under the Business Card tab)

    Once you’ve settled into the daily real estate business routine you’ll want to work on your branding and, most important, get your own website set up. Once this is finished, order new, Business Cards, complete with your website’s URL. 

    1. Purchase CRM software

    Customer relation management will be one of the more critical tasks in your real estate business and, thankfully, there are software solutions to help streamline the process.

    Ask around the office to get a feel for the best CRM solutions and you’ll find the same names pop up repeatedly.

    • LionDesk
    • pipedrive
    • Market Leader
    • Wise Agent
    • Follow Up Boss
    • realvolve
    • Top Producer

    When you’ve found one or two that sound right, run your choices by your broker to help you decide. He or she has worked with enough rookies to understand what they need in a CRM and how to choose one that will grow with you.

    Get the software up and running and start populating it with the contact information of family, friends and close acquaintances. This is your sphere of influence, and they’ll be important in your efforts to harness the power of referrals.

    1. Contact everyone you know who lives in the area

    You know a lot more people than you may think:

    • Doctor
    • Dentist
    • Veterinarian
    • Dog Groomer
    • Dry Cleaner
    • Barista
    • Hair Stylist or Barber
    • Nail Technician
    • Folks at the gym where you work out
    • Landlord/lady and former landlords/ladies
    • Your kids’ friends’ parents
    • Teachers
    • Former colleagues

    This list represents just a small fraction of groups of people that you may know; use it to brainstorm additional sources.

    It doesn’t matter how you contact these people – call, email, snail mail – but reach out to them and let them all know that you’re now in real estate.

    Consider sending an Agent Introduction postcard to those people you won’t be calling on the phone. And be sure to mention, whether in person, by phone, email or snail mail, that you’re happy to help anyone they know who may be thinking of buying or selling a home. 

    1. Create a business and marketing plan

    It’s a rare rookie who prepares a business and marketing plan. Hey, we get it, it’s a complete hassle and other parts of the new business which are more attractive, beckon.

    Every successful agent we know, however, has a plan, even if rudimentary and written on post-it notes.

    Check out the Real Estate Marketing Planner for 12 months of strategic marketing ideas. This Planner is a free resource provided by us for you.

    Our One Page Real Estate Business Plan is another free resource that we have made available for you. It’s simple, yet gives you a direct path to achieving your business goals.

    Watch this space next month for Part 2 of How to Spend your First 30 Days as a new real estate agent. See you then!

    Let everyone know how to find you when they are looking for real estate help (available in the postcard section under Agent Introduction Series)
    Send out Agent Introduction postcards to your newly created Sphere of Influence.
    Make sure they know who to call when they are ready.
    You might also like:

    The Biggest Client Complaint and How Not to Be That Agent

    Agent Facebook Success: Rules of Engagement

    Need help targeting the perfect niche of buyers or sellers? Use our mailing list tool to create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!

    PLUS: When you have time…here are Free killer tools to help your success this year!

    1. Become a Listing Legend Free eBook 

    Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here

     

     

    2. “Get More Listings” Free Online Webinar

     

    “Get MORE Listings & Begin to Dominate Your Market!” Free online webinar. Learn the 3-7-27 strategy for explosive growth, why 95% of agents have less than 20% market share, and how to become the agent everyone competes against. – Click Here

     

     

    3. The 12 Month Done-For-You Strategic Marketing Plan

    The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, Niche Marketing, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here

     

     

    4. The Free One-Page Real Estate Business Plan

    Treat your business like a business it is vital to long-term success in this industry. Some agents may put together elaborate business plans, yet there’s something powerful about keeping it simple. Check out our one page Online Real Estate Business Plan.  – Click Here

     

     

    5. The Free Online ROI Calculator

    Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your statistics in our Free online ROI Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! –Click Here

      There’s one thing I don’t get about the real estate industry: If it’s true that “When you list, you last,” why is the vast majority of real estate advice addressed to homebuyers?

      From how to get a mortgage to down payment assistance programs and explanations of every step in the buying process, buyers seem to be every agent’s holy grail. The poor seller is left in the dust.

      In a quick tour of real estate blog posts, most of the seller stuff I read had to do with how to choose a listing agent and admonitions to “clean, declutter and stage” their homes.

      Agents seem to have forgotten that there are also first-time sellers who have just as many questions about their part in the process as first-time buyers have. They lose just as much sleep at night worrying about what they don’t know and how they’ll learn it.

      Sadly, the same can’t be said for first-time seller advice. Because of this, these clients are filled with anxiety and have plenty of questions they may be too embarrassed to ask.

      Even worse, the number of posts I found centered around how they can get “top dollar” for their homes vastly outnumbered the posts about what is truly of concern to them. 

      You can’t be of service to someone when you make assumptions

      How many blog posts and articles have you read that claim some variation of “Your home may be your largest financial asset?”

      First, do agents think that homeowners don’t know this? Second, do agents think this is a home seller’s biggest concern?

      Guess what? Getting the home sold “fast and for top dollar” is far down on the list of home seller concerns. At least according to a recent survey by Homes.com.

      If you truly want to attract listing leads, help home sellers understand the pre-listing projects they should undertake. In fact, according to the previously mentioned survey, the vast majority of sellers crave information about which repairs and home renovations they should perform.

      Of course, somewhere in the back of their minds they are most likely hoping to get “top dollar” by undertaking these projects. But when asked what concerned them the most, getting the home ready for the market was twice as concerning as any financial aspect.

      Related: How to Help Divorcing Couples Sell Their Homes

       They’re also concerned about the emotional aspects of the sale

      Next on the list of home seller concerns is “the stress and anxiety of moving,” according to a press release of Home.com’s survey results.

      More than a quarter of the respondents skipped right over the selling process and closing to thinking about the move.

      When was the last time you offered valuable information about moving? Moving with kids, moving with pets, moving in winter or a moving checklist? DIY or hire a moving company? How to find the best moving company.

      Sellers are concerned about how to ease their young children into a new school and a new neighborhood. Older Americans voice concerns about leaving a neighborhood in which they’ve lived for decades and leaving behind neighbors who have become longtime friends.

      As a potential listing agent, offering solutions to ease these concerns gives you a leg up on other agents in your market who are too busy catering to buyers to dig deep into topics that attract sellers.

      Yes, money is a concern

      All of the above doesn’t mean that home sellers don’t have financial concerns. Indeed, they do; they just don’t happen to be at the top of the list of what worries them.

      The Homes.com study found that two aspects of the selling process were the most troubling when asked about financial concerns:

      • Nearly a third worry about how they will coordinate the timing of selling their current home and buying their next one.
      • Almost as many home sellers are confused about the tax implications of selling.

      The latter isn’t easy to address. With all of the recent tax code changes it’ll take some research. And, don’t forget the admonition for readers to “always consult your tax advisor.”

      The key to laser-focused marketing is to know – not make assumptions about — your audience. That so many of your colleagues seem focused on following assumptions offers you a leg up.

      Get your phone ringing with interest with this Free Report (available under the Free Reports section of our website).

      Take it.

      Order the Top Ten Renovations That Reap Returns Free Report and add it as an opt in on all of your marketing (email, website, direct mail).
      You might also like:

      The Biggest Client Complaint and How Not to Be That Agent

      Downsizing: How to Help Your Older Real Estate Clients

      Need help targeting the perfect niche of buyers or sellers? Use our mailing list tool to create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!

      PLUS: When you have time…here are Free killer tools to help your success this year!

      1. Become a Listing Legend Free eBook 

      Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here

       

       

      2. “Get More Listings” Free Online Webinar

       

      “Get MORE Listings & Begin to Dominate Your Market!” Free online webinar. Learn the 3-7-27 strategy for explosive growth, why 95% of agents have less than 20% market share, and how to become the agent everyone competes against. – Click Here

       

       

      3. The 12 Month Done-For-You Strategic Marketing Plan

      The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, Niche Marketing, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here

       

       

      4. The Free One-Page Real Estate Business Plan

      Treat your business like a business it is vital to long-term success in this industry. Some agents may put together elaborate business plans, yet there’s something powerful about keeping it simple. Check out our one page Online Real Estate Business Plan.  – Click Here

       

       

      5. The Free Online ROI Calculator

      Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your statistics in our Free online ROI Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! –Click Here

        Although it depends upon whom you ask, estimates vary about the average length of time a real estate agent stays in their career. Trainer Tom Ferry says that 87 percent wash out within five years and others say that the churn rate is around 95 percent.

        If you’re a new agent who hopes to be in it for the long haul or an established one who is facing challenges, read on to understand some of the stumbling blocks you may face and how to overcome them.

        Let complacency take hold

        When that sense of security settles over you, when you decide that being average is good enough – wake up!

        NAR’s member survey claims that fewer than one-fourth of real estate agents earn more than $100,000 annually. The median earnings, at least according to the Bureau of Labor Statistics, is $44,090.

        What’s interesting, is how the business behaviors of the lowest and highest earners differ. Rich agents, for instance, aren’t afraid to spend money. And, no, it isn’t because they have more of it to spend. Most claim that they started their careers with the mindset that “it takes money to make money.”

        An Active Rain survey of these agents finds that they spend more of their incomes on tech upgrades and 10 times more on marketing than the poorer agents.

         Refuse to spend money

        Remember the NAR member survey we mentioned above? Ever wonder what separates the two groups of earners (aside from experience)?

        Those who earn more aren’t afraid to spend the money necessary to set them apart from the rest of the agent-pack in their area.

        The wealthier agents spend their money on their websites, their CRM, and email marketing. In fact, this group of agents spends 10 times more on marketing than the lower-earning agents.

        Keep hanging on to every last nickel and you’ll fail. It’s as simple as that.

        Related: How to Harness the 5 Key Traits of ‘Rock Star’ Agents

        Don’t grasp “When you list, you last”

        The holy grail in academia is to publish. It’s one of the few ways to promote yourself as an authority and, thus, further a career. In fact, the admonishment is “Publish or Perish.”

        We have one of those in real estate: “When you list, you last.” When you consider that your listings will generate far more clients than your buyers will (if you work them properly), you understand the dictum.

        Servicing a listing is also a lot less labor-intensive than working with a buyer. Focusing on listings “will allow you to get what you want a lot faster and allow you to have a life,” according to real estate trainer Knolly Williams.

        In his book “Millionaire Real Estate Agent,” Gary Keller claims that listings are vital if you hope to build your business to its highest level, “with the lowest costs and highest net.”

        Finally, Matt Williams at Realtor.org challenges agents to walk into any real estate broker’s office and ask to meet their most successful agent. The chances are pretty good, he says, that “you’ll soon be shaking the hand of someone whose income comes mostly from listing.”

        How much is “mostly?” The experts recommend that 60 percent of your business should be listings.

         Ignore past clients

        One of the most amazing real estate statistics to come out of the NAR is that the majority of real estate consumers (85 percent, according to the latest survey) loved their agent so much that they promised to use them again in the future.

        Yet, fewer than 25 percent actually do use the same agent

        This is a direct result of a failure to follow up on the agent’s part. The most awesome closing gift ever given won’t make these people remember you five years down the line when it’s time to sell their home. Especially if another agent has been farming them or otherwise getting their name in front of them more often than you do yours.

        Inconsistent or non-existent follow-up is like throwing money away and a surefire way to sabotage your business.

        Consider this: a 5 percent increase in your client retention rate can bump your income as much as 95 percent, according to research by Harvard Business School.

        Don’t neglect others in your sphere of influence, either. According to NAR, as much as 65 percent of your business can come from that pool if you consistently reach out to them.

        Don’t worry about how to keep in touch. Put these people on a drip campaign and send out postcards, newsletters, market updates, free reports and anything else that will keep you top-of-mind.

        Fail to plan for success

        It’s difficult to remain focused on your goals if you lack a plan. Guessing or hoping that you meet your objectives isn’t smart. An assumption of where you stand at any given moment is about as accurate as a Zestimate of a property’s value.

        Avoid the hit-or-miss chaos and make a business plan. Yes, it’s boring and yes, it’s time-consuming. There are lots of guides online to help you, but we’re rather partial to the Free One-Page Real Estate Business Plan.

        Don’t accept being an average agent, spend the money it takes to market your business, chase listings instead of buyers, send past clients lots of love, and create and follow a business plan.

        Answer their burning question and get them reaching out (available in the postcard section under the Get More Listing Series)

        THAT is how to ensure your success and tenure in real estate.

        Send at least 100 Should I Stay or Should I Go postcard from the Get More Listings Series to an area where you want more listings.

        You might also like:

        The Biggest Client Complaint and How Not to Be That Agent

        Professional Agent Behavior: 101 

        Need help targeting the perfect niche of buyers or sellers? Use our mailing list tool to create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!

        PLUS: When you have time…here are Free killer tools to help your success this year!

        1. Become a Listing Legend Free eBook 

        Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here

         

         

        2. “Get More Listings” Free Online Webinar

         

        “Get MORE Listings & Begin to Dominate Your Market!” Free online webinar. Learn the 3-7-27 strategy for explosive growth, why 95% of agents have less than 20% market share, and how to become the agent everyone competes against. – Click Here

         

         

        3. The 12 Month Done-For-You Strategic Marketing Plan

        The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, Niche Marketing, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here

         

         

        4. The Free One-Page Real Estate Business Plan

        Treat your business like a business it is vital to long-term success in this industry. Some agents may put together elaborate business plans, yet there’s something powerful about keeping it simple. Check out our one page Online Real Estate Business Plan.  – Click Here

         

         

        5. The Free Online ROI Calculator

        Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your statistics in our Free online ROI Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! –Click Here

         

          The reality is, there is never enough time in the day to get all of your necessary work done, including marketing.

          And certain important aspects of your work can only be done by YOU. This forces you to make hard choices about where to dedicate your time.

          But what happens to the rest of the work?

          Go from overwhelmed to an opportunity multiplier

          Lets look at marketing activities.

          The success of direct response marketing for branding and generating new clients is well known. This is especially true for Just Listed and Just Sold postcards.

          However, the effort involved in uploading home photos, adding copy, and creating a targeted mailing list can drain you of valuable time.

          We know the importance of getting Just Listed and Just Sold postcards out with every listing and sold. It’s the road map top agents follow to maximize each opportunity and ensure no money is left on the table.

          And we also understand that you can’t stop in the middle of an already over-booked day to send out a Just Listed or Just Sold postcard.

          Which means, very often, these postcards just don’t go out…and money gets left behind.

          Related: Find out your marketing ROI. Try our Free ROI Calculator

          Therefore, automating this important area of your business plays a big role in cultivating ongoing business success…and growth.

          Meet your problem solver – MSLmailings.com.

          It’s the answer that frees you from this time-consuming work, yet provides you with the desired results.

          You continue doing the work most important to your business – prospecting and going on appointments. MLSMailings.com takes care of sending out your Just Listed and Just Sold postcards – ensuring no money is left behind.

          MLSMailings.com is like your own “invisible marketing assistant”.

          It really is easy to maximize your opportunities

          You may be thinking, “but I’m so busy, I don’t even have time to execute a process like this”.

          Not so, using MLSMailings.com is easy.

          Here’s how it works.

          MLSMailings.com automatically generates postcards for your listings when they are active and sold. The data is received directly from your MLS and a postcard is generated automatically.

          You receive an email 24 hours prior to printing, giving you the option to opt out. If you want the postcard to go out, you do nothing and the postcard is mailed to surrounding home owners of the property address.

          That’s it!

          There is no commitment for you to use this service and you can stop using it when ever you want.

          However, it’s doubtful you’ll stop.

          Once you’ve been freed of a time consuming activity and able to focus all of your attention on growing your business there will be no turning back.

          There’s no longer a reason to leave money on the table. Your opportunity multiplying Just Listed and Just Sold postcards can go out EVERY TIME.

          Go Now to MLSMailings.com and start freeing up time for the important tasks ONLY YOU can do for your business!

          Order Free printed sample postcards from MLSMailings.com, here.
          You might also like:

          Creative Marketing: Be Daring, Be Memorable

          Avoid These 4 Common Real Estate Agent Marketing Mistakes

          Need help targeting the perfect niche of buyers or sellers? Use our mailing list tool to create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!

          PLUS: When you have time…here are Free killer tools to help your success this year!

          1. Become a Listing Legend Free eBook 

          Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here

           

           

          2. “Get More Listings” Free Online Webinar

           

          “Get MORE Listings & Begin to Dominate Your Market!” Free online webinar. Learn the 3-7-27 strategy for explosive growth, why 95% of agents have less than 20% market share, and how to become the agent everyone competes against. – Click Here

           

           

          3. The 12 Month Done-For-You Strategic Marketing Plan

          The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, Niche Marketing, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here

           

           

          4. The Free One-Page Real Estate Business Plan

          Treat your business like a business it is vital to long-term success in this industry. Some agents may put together elaborate business plans, yet there’s something powerful about keeping it simple. Check out our one page Online Real Estate Business Plan.  – Click Here

           

           

          5. The Free Online ROI Calculator

          Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your statistics in our Free online ROI Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! –Click Here

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