How to Decide if Your Real Estate Business is Ready for a Partner.

Jul 29, 2019

If you’ve come to the point in your real estate practice where you can’t handle everything by yourself, congratulations! Your first step, naturally, is to hire an assistant to take on some of your tasks. Your next step should be consider if your real estate business may be ready for a partner.

A funny thing happens when you get help: you get even busier. Bernice Ross cites those oh-so-famous unnamed “most experts” when she claims that “once you hit 40-50 transactions per year, your production will be capped at that level unless you hire an assistant or someone else to help you manage your business.”

The First Step: Decide what you want

When you take on an alliance with another agent, the relationship can be structured however you think best. You can call that person your partner and make joint decisions in the business. Or, you can hire a buyers’ or listing agent.

The best choice when it comes to achieving a work-life balance, however, is a full-time partner.

Yes, you’ll end up splitting the income, but if you hire wisely, your partner will be generating additional business. Hire extremely wisely and you’ll most likely end up making what you did before, or maybe more.

The Timing is Every postcard is available in the postcard section under the Fence-Sitter Series Seller.

The benefits of partnering

When was the last time you took a weekend off or even (gasp!) a vacation? “Vacation coverage is a prime benefit to having a partner,” according to real estate trainer Jennifer Allan-Hagedorn.

“Your first vacation when you truly don’t have to worry about business? You’ll wonder why you didn’t get a partner before,” she says.

Qualities of the perfect real estate business partner

Determine your priorities and expectations first. Make a list of tasks that you routinely perform that you never want to do again. For instance, if the thought of holding one more open house on a Sunday afternoon when you’d rather be golfing is nauseating, make a note to find someone who actually enjoys holding homes open.

While the partner you decide to team up with should have a different skill set and task preferences than you do, your ethics and work habits should be similar.

If you’re an overachiever, naturally you don’t want to partner with a slacker.

Florida agent Peggy Gatchet took on a partner when she went from part-time to full-time real estate sales. Her primary goal was to find someone who works as hard as she does.

“You have to feel like that person is going to meet you toe-to-toe, hour-to-hour, minute-to-minute,” she explains. “If they don’t, there’s going to be some resentment that will build.”

Qualities to look for in a real estate business partner include:

An agent whose production level mirrors yours
Someone who likes doing the tasks you find tedious
An agent who shares your work ethic
A person you trust

The Time is Running Out postcard is available in the postcard section under the Fencesitter Series.

Determine the exit strategy before the entrance

Business partners don’t take vows that are expected to last as long as you both shall live. Someday, the partnership will dissolve and both of you need to recognize this and prepare for it.

Allan-Hagedorn provides a cautionary tale from her own experience with the ending of a business partnership. “We both felt that we were entitled to the partnership’s client database.”

So, hammer out an exit strategy and get it in writing. Include every last detail, including how you’ll deal with the folks in your CRM.

In fact, a formal and legal partnership agreement is ideal, for both of you, according to Kelle Sparta, author of “The Consultative Real Estate Agent – Building Relationships that Create Loyal Clients, Get More Referrals and Increase Your Sales.”

“A partnership agreement is like a prenuptial agreement,” she explains and suggests that a thorough agreement will formalize both sides’ expectations on basic issues, such as:

Which of you will perform which tasks
How will you split commissions, BPO fees, and referral fees
What happens if one partner becomes incapacitated or dies
Agree how you will dissolve the partnership when you both agree it’s no longer working
Decide how you’ll divvy up the client and prospect roster
Make a decision how you will deal with current listings when the partnership ends
How will you divide the physical assets of the partnership (jointly purchased electronics, office equipment, etc.)

Despite the work involved in forming a partnership, “Having been a solo practitioner and having been part of a team, I really must confess to preferring the latter,” Sparta recalls. “I loved not having to do things alone. I loved having someone I could call and say ‘I’m not going to make it for the appraiser, can you meet him?’”

The Still on the Fence postcard is available in the postcard section under the Fencesitter Series

A partnership isn’t for everyone. If you’re tired of your whole life being wrapped up in your business, however, and need relief, it just might be your key to more personal freedom.

Send the Still on the Fence Postcard from the Fence-Sitter Series to at least 100 new prospects in an area where you want more listings.

Need help targeting the perfect niche of buyers or sellers? Use our mailing list too l 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

Increase your email open rate with these two critical fixes

Jul 24, 2019

If you’re spending time and money on email marketing, there are “best practices” that you can follow to ensure that your emails are opened, read, enjoyed and that they produce business.

Let’s walk through the two most critical parts of an email and look at ways to ensure both do their fair share of the heavy lifting.

Your real estate email subject line

Most marketers we’ve spoken with claim that the subject line of an email is critical – more important than even the substance of the email.

They have a point. The subject line determines whether the recipient opens or tosses the email.

Regardless of how interested your recipients are in what you’re selling, they’ll skip over your email unless you entice them not to.

For instance, since I firmly believe that baby boomers are the wave of real estate’s near future, I’ve joined several boomer website’s email lists.

One of them uses the same subject line on every email. Identical. Never varies:

“First Look: Baby Boomers”

As interested as I am in baby boomer real estate attitudes, I seldom open these emails. I always think I’ll find the time later on but I seldom do.

Today, I opened one and the first link to a story on their website is “Are You Making This Big Retirement Mistake?”

Send out the Too Much House postcard (available in the postcard section under Life Event Series)

What a brilliant title! If I were close to retirement, I would find this topic so compelling I would click on the link.

Had this been the subject of the email, it would’ve been opened immediately. Think of the website visits this company is missing out on by being so lazy with their email subject lines.

According to Olivia Allen at Hubspot.com, there are seven key concepts to keep in mind when writing email subject lines. The three most pertinent to the real estate agent include:

Urgency: It’s the old FOMO concept at work here – the “fear of missing out.” Agents use this often when discussing low interest rates and low home prices, stressing (hopefully) that they won’t last forever.
Curiosity: The baby boomer story about the big retirement mistake fits this concept.
Personalization: Smart agents who segment their databases are most likely quite familiar with personalizing content according to a lead’s position in the pipeline, whether a buyer or seller, looking for a condo or a house, etc. Email open rates improve when subject lines are personalized to recipients’ interests.

You can find all seven concepts and more information about email subject lines at Hubspot.com.

Your real estate email signature

Recently, an agent in a Facebook real estate group posted his email signature, asking for feedback from the group. And, did he get feedback!

Here’s a look at his email signature, with identifying information changed:

Advice he was given that we find spot on includes:

Dump the designations. Studies show that real estate consumers neither understand what they mean or care. Unless it’s an academic designation, such as a JD or PhD, they’re just distractions and clutter.
That magazine recognition is quite impressive, until you get to the dates. Has he slacked off since 2016? We think he should leave off the dates.
Unless it’s law in your area, leave off your license numbers. Also, we would suggest he add “Real Estate” before “Associate Broker” and leave off mention of his appraiser’s license. To the basic consumer, “Associate Broker” doesn’t mean anything. . .broker of what? With the addition of his appraisal license, it appears he may be a broker of appraisals.
There are far too many telephone numbers in his signature. Also, what’s the difference between “direct” and “cell?” Isn’t a cell number a direct line? Dump the eFax number completely.
The mission statement should go as well. Use that space for an amazing client testimonial.
Where’s his website URL, his Facebook, LinkedIn and other social media links?
There are several technical errors as well. These include inconsistencies in phone number format; some numbers have the area code in parenthesis while others don’t. Punctuation bloopers (serial commas in the mission statement, etc.).

His colleagues also reminded him that most emails are opened on mobile devices with small screens and doubt that this will show well on such. They also suggested his phone number should be first so that people don’t have to wade through all the self-serving hype to find it.

One agent saw what the rest of us missed: too many links in an e-signature may trigger spam filters. All of the blue text in his signature are links.

The bottom line, from that brilliant agent, is to keep your email signature “simple and license law compliant.”

Send the Retiring Soon postcard (available in the postcard section under Life Events Series).

Attract Baby Boomers by sending out the Retiring Soon postcard from the Life Event Series.

Need help targeting the perfect niche of buyers or sellers? Use our mailing list too l 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

2. “Get More Listings” Free Online Webinar

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

4. The Free One-Page Real Estate Business Plan

5. The Free Online ROI Calculator

Understanding the Needs of the Affluent Homebuyer

Jul 22, 2019

Last year at this time, the news was full of the gloom and doom the president’s new tax plan was going to drop on the real estate market – especially the high-end second-home market.

Some experts predicted that owners who can’t find a tax loophole may end up selling, thus adding to the luxury home inventory.

Selling any home requires an understanding of the buyer pool. When the home is high-end, it’s even more important, as this pool is significantly smaller and those swimming in it are much more specific in their wants and needs.

While the list changes frequently, a few features that attract affluent homebuyers remain the same decade after decade. These include privacy and security, a personalized or custom space and a home that helps build “happy memories with family and friends,” according to a 2018 Luxury Portfolio International® study.

Putting these qualities into words and highlighting them is critical when marketing a luxury property.

What else are today’s wealthy homebuyers seeking? Read on to learn more.

What are the affluent homebuyer’s hot buttons?

It’s challenging to lump together any group of individuals and assume they all want the same things. The luxury homebuying pool is no exception. International buyers, for instance, have vastly different desires than the luxury buyer planning to live in the home full-time.

Then, the more expensive the home, the longer the list of must-haves.

Available in the postcard section under the Luxury Series.

But, when studying domestic luxury homebuyers, certain themes become apparent. These include their desire for privacy, energy efficiency and a spa-like master suite, among others.

Privacy

Privacy tops the list of concerns of affluent homebuyers, according to the Luxury Portfolio International study of the top 10 percent (by income) of real estate consumers.

This is particularly evident in land-starved areas, such as Silicon Valley, where Mark Zuckerberg bought four of his neighbor’s homes to provide a buffer between his family and the rest of us. He also walled off his neighbor’s ocean views near his Hawaii home, trying to create even more privacy.

Wealthy homebuyers want tech-friendly homes

When we think “tech-friendly” we typically picture a millennial homebuyer. Recent surveys show, however that 87 percent of buyers shopping in the luxury market won’t purchase a home that doesn’t offer tech features.

App-driven security systems are the most in-demand feature (with more than half of high-end property buyers requesting them), followed by automated climate control.

If your luxury listing’s tech system also extends to controlling other home systems, you’ll want to hit the feature hard in your marketing materials.

Scaled back swimming pool

A Redfin study finds that luxury buyers, for the most part, still insist on a swimming pool, but they want it to be smaller. This makes sense when we understand their desire for more backyard entertainment features. A smaller pool leaves more room for these additional features.

What the affluent seek in a real estate agent

According to a 2017 Luxury Portfolio International white paper, there are three qualities that the high-end home shopper or seller is seeking in an agent.

The first is trustworthiness. Let your testimonials do the heavy lifting on this one. Ensure that you place your best one above the fold on your website and that the others are easily accessible.

The second quality you’ll need to attract affluent real estate consumers is proof that you understand the “details that distinguish the best.” This means understanding “artistic craftsmanship.”

Yes, it’s something that can be learned, but it takes time. Immerse yourself in architecture and art. Tour high-end homes to get a feel for what constitutes “aesthetic quality.” Get to know the luxury brands that this pool of homebuyers finds valuable.

Finally, when asked about their ideal real estate agent, luxury homebuyers say they want to work with someone who is willing to “take the time to understand my needs.”

Now that one is universal.

A great resource for agents interested in entering the luxury market is Michael LaFido’s Luxury Blueprint Video Series. It’s a three-part series on how to break into and sell more high-end and luxury homes.

You can also listen to his podcast “Luxury Listing Specialist” on iTunes or Stitcher. For information on Michael’s Luxury Listing Specialist Certification Click Here.

Luxury Property Flyers (available under the Luxury Marketing tab on our website)

If you have a luxury property listing be sure to order Luxury Property Flyers to enhance your client’s property and highlight its outstanding features.

Need help targeting the perfect niche of buyers or sellers? Use our mailing list too l 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

2. “Get More Listings” Free Online Webinar

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

4. The Free One-Page Real Estate Business Plan

5. The Free Online ROI Calculator

5 simple rules of writing real estate content for the web

Jul 17, 2019

Content is the cornerstone of your online presence and your brand’s biggest ambassador. Done right and shared frequently, it will deliver visitors to your website where you can work your conversion magic.

Writing isn’t easy for those who don’t do it every day. But you don’t need to bend it like Dostoevsky or Shakespeare. Once you realize that, you free yourself of that little nag in your head that tells you that you suck at writing.

Let’s take a look at some of the basics, as applied to your blog posts but transferrable to most website content.

Know your audience

It’s crazy to try to target every conceivable real estate consumer in one blog post. You won’t succeed.

Before setting fingers to keyboard, take the time to think about to whom your topic will appeal. That is your audience for this particular post.

That’s the person you’ll imagine as you write. For instance, when writing a post on downsizing, your audience is most likely:

A homeowner
A member of the baby boomer generation
Someone who owns a large home
Someone who needs help both selling and buying

Draw an imaginary picture of this person, sitting at his or her computer reading your article. Keep that picture top-of-mind while writing.

Remain focused on the topic

Nothing will tick your readers off more than a snappy title luring them into reading a post that ends up having little to do with the title. The anger will be worse if your post offers no solutions and few answers.

Their anger toward you is well deserved; you’ve effectively ripped off their time.

It’s a common problem with folks who don’t write for a living. A solution to this is to create the title of your piece last.

Free Report for Real Estate Marketing to sellers — available under the Free Report tab on our website.

Then, when you’re finished writing and you proofread it, determine your main theme, come up with a brilliant title and remove anything in the post that strays from it.

Short and simple

This rule applies to sentences as well as paragraphs and even words.

Don’t use a $5 million word when a $2 word will suffice

For example:

We will accompany you – We will go with you
When you relocate to – When you move to
The optimum time to buy (or sell) – The best time to buy (or sell)
Obtain a mortgage – get a home loan
Purchase a home – Buy a home

The same holds true for sentences and paragraphs; keep them short and easy to read.

Looks matter

When a visitor lands on your blog post, it’s the visual appeal that he or she will notice first. If your post appears too wordy, too challenging to read, the chances are good your visitor will leave.

Aside from that snappy title, one of the best ways to “trick” them into staying is by making the post appear to be a quick, easy read. Use the following in each post:

Lots of white space. You can get this by keeping your paragraphs short – no longer than five sentences, but shorter is better.
Bullet points
Numbered lists
Stand-alone quotes

Proof and edit – a couple of times

Congratulations! You’ve got yourself a first draft. Keep in mind that

“The first draft of anything is sh#$”

According to the late Ernest Hemmingway.

Now, you need to hone that blog post. Read through it, looking for spelling, grammar and punctuation mistakes. Then, check it for factual and logical errors. Ensure that claims you make are backed up by facts.

We found the perfect example of a logical error on a New Jersey luxury agent’s blog. He opens it with a question, asking the reader if he or she is considering “knocking down the walls of an existing property.”

As opposed to a non-existing property? Hopefully, had the agent proofed his post, he would’ve caught this. Obviously, he didn’t proof.

After making your edits, read the post once more for flow. Organize the information so that each thought leads logically to the next.

Then, set it aside for a few hours and repeat the process. You may be surprised how many mistakes you missed on the first-read.

available under the Free Report tab on our website.

Your final task is to share your content — in as many places as possible.

Offer the Free Report, “Five Ways Waiting to Sell Can Cost You Thousands” as an opt in our your blog in exchange for email addresses.

Need help targeting the perfect niche of buyers or sellers? Use our mailing list too l 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

2. “Get More Listings” Free Online Webinar

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

4. The Free One-Page Real Estate Business Plan

5. The Free Online ROI Calculator

How to stop wasting time and start selling more real estate

Jul 14, 2019

If you’re of a certain age you may recall when the personal computer was brand spanking new to the world and all the promises it held out to us.

It would usher in a paperless society, they said. It will transform our work environment, saving tons of time and making us more productive, they promised.

Sure, personal computers have caused the demise of the video store and we no longer have to stand in line at the bank, but many of us still deal with piles of paper and spend way too much time online.

Both of those (paperwork and the internet) are major time thieves, but they aren’t the only ones you may routinely face during the work day.

Email is supposed to be a tool

A recent Michigan State University study found that we spend more than 90 minutes a day – “or seven-and-a-half hours every week – recovering from email interruptions.”

Have you ever figured out what your time is worth? Take your annual commission amount and divide it by 2,000 (the average number of hours most people work each year, with two weeks deducted for vacation time).

That’s a rough estimate of your hourly rate. That is how much money you lose, per day, by allowing yourself to be a slave to your email. Multiply that out over the course of a year – shocking, isn’t it?

Think about how much more productive you would be with an extra hour and a half each day. Then, stop being reactive when it comes to email. Turn off email notifications and only check for new emails during specific times.

Or, assign email-checking to your assistant. No assistant? Why not?

Social media marketing as a rabbit hole

Yes, social media marketing is important. But it is entirely too easy to stop by Facebook to share your latest blog post and end up chasing shiny objects. Minutes can easily turn into an hour, or more.

In fact, studies by eMarketer claim that we spend 40 minutes a day on Facebook. Add that 40 minutes (if it’s not spent solely on business marketing) to the 90 you lose checking email and you’ve lost more than 2 hours a day to non-income-producing distractions.

Use Free Reports as opt ins and sellers calling you (available under our Free Report tab).

If the shiny objects are far too attractive to you, plan on saving your social media marketing for the end of the day. Then, discipline yourself to save the socializing for after you take care of the marketing stuff.

Temptations in the home office

You can’t beat working from home. Wear whatever you want, eat lunch whenever you want and take breaks whenever you please.

It’s a blessing, yes, but it’s also a curse. There are so many distractions when working from home—distractions that can ruin your productivity.

Not only does the pile of clean laundry call out to you to be folded and put away, but other household chores suddenly seem more interesting than the work at hand. Besides, it’ll only take a few minutes, right?

Staying focused on your work can be challenging. If it is for you, try the “rule of 52 and 17.” John Rampton at Inc.com says.

The study apparently found that “the most productive people take a 17-minute break every 52 minutes.” Rampton adjusted the rule to fit his attention span and works “in shorter, 30-minute sprints,” breaking for 5 to 7 minutes.

Set a timer or ask Alexa to remind you when your time is up, but vow to remain focused during the work period. Then you can fold that laundry.

But, there’s more

Home office workers don’t know this but they have a sign on their backs that says “I’m at home so I’m not really working. Feel free to ask me to pick up your dry-cleaning, run your daughter to ballet class or drop your dog at the vet.”

Find a local professional errand runner and keep his or her phone number handy. Every time your sister calls with an errand for you to run, give her the number.

Setting boundaries is actually the key to success. It may take time, but the more often you meet these requests by reminding the people making them that you are working, the less it will happen.

These time-wasters only scratch the surface of what a real estate agent may face during the work day. Add time-wasting clients, disorganized work spaces and cars and working without a plan to the list.

Learning how to be more self-disciplined isn’t easy but it’s critical to the success of your real estate business. Plus, it makes you happy, according to a study published in the Journal of Personality.

“Exerting self-control can make you happier not only in the long run, but also in the moment,” Time.com’s Maia Szalavitz says, citing the study.

Apparently, “managing conflicting goals” successfully makes us feel good. In real estate, it also helps you make more money.

Get hands raising with an attention-getting free report (available under the Free Report tabe on our website).

Educate your target market and get them leaning forward to work with you by adding the Free Report, “9 Ways to Get More Money, Less Time, With Less Headaches“ as an opt in to all of your marketing.

Need help targeting the perfect niche of buyers or sellers? Use our mailing list too l 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

2. “Get More Listings” Free Online Webinar

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

4. The Free One-Page Real Estate Business Plan

5. The Free Online ROI Calculator

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The First Step: Decide what you want

The benefits of partnering

Qualities of the perfect real estate business partner

Determine the exit strategy before the entrance

Send the Still on the Fence Postcard from the Fence-Sitter Series to at least 100 new prospects in an area where you want more listings.

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!

Your real estate email subject line

“First Look: Baby Boomers”

Your real estate email signature

Advice he was given that we find spot on includes:

Attract Baby Boomers by sending out the Retiring Soon postcard from the Life Event Series.

What are the affluent homebuyer’s hot buttons?

Privacy

Wealthy homebuyers want tech-friendly homes

Scaled back swimming pool

What the affluent seek in a real estate agent

If you have a luxury property listing be sure to order Luxury Property Flyers to enhance your client’s property and highlight its outstanding features.

Know your audience

Remain focused on the topic

Short and simple

Looks matter

“The first draft of anything is sh#$”

Offer the Free Report, “Five Ways Waiting to Sell Can Cost You Thousands” as an opt in our your blog in exchange for email addresses.

Email is supposed to be a tool

Social media marketing as a rabbit hole

Temptations in the home office

But, there’s more

Educate your target market and get them leaning forward to work with you by adding the Free Report, “9 Ways to Get More Money, Less Time, With Less Headaches“ as an opt in to all of your marketing.

Our Real Estate Experts

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