business plan

Do You Have What it Takes to Sell Newly Constructed Homes?

Mar 13, 2024

Every year when 2023 RealTrends + Tom Ferry “The Thousand” list comes out, it’s topped by an agent who holds the Guinness World Record for home sales.

“He only sells new-construction residential properties and he works with volume builders only,” according to Katie Warner at BusinessInsider.com.

On 2023’s list, Ben Caballero, had 6178 sides, resulting in $3,060,878,784 in volume – nearly double the volume of the agent in second place.

Surprisingly, new construction isn’t a particularly popular niche. With numbers like Caballero’s however, it should be.

If you’d like to get in on some of this impressive income, you may want to give new home sales a whirl.

Do you have what it takes?

John Rymer at ProBuilder.com lists traits to look for when hiring a “New-Home Sales Superstar.”

Avid goal setter
Ask the right questions
Financing expert
Passionate about new-home sales
Exudes enthusiasm
Takes responsibility for results
First into the office, last to leave
Perfected the follow-up process
Always showing value
Persistent and fearless closer

If this list sounds like you, selling new construction may just be your dream career.

First, the cons

Let’s get the bad news out of the way up front.

Just as with the broker under which you choose to hang your license, so goes the builder. Some value ethics and high standards. Others, not so much.

So, choosing the right builder may be challenging.

Then, there is the commission structure and, no, you may not be making the percentage you are accustomed to.

More often than not, when you sign on to become a new home sales consultant, you are no longer an independent contractor, but an employee of the builder.

Naturally, there are other cons, but these are the ones that agents should carefully consider.

The Move Up Market Series is shown above. To learn more, click here.

The pros of working with a builder

The obvious plus of becoming a new home sales consultant is that prospects come to you. No more cold calling and chasing after business.

As an employee, you’ll most likely receive benefits, such as medical and dental.

If being a business owner doesn’t agree with you, but you hope to remain in the industry, becoming a new-home sales consultant may just be a smart move for you.

How to get your foot in the door

Your best bet is to visit a few sites, introduce yourself and get to know the reps. Don’t be afraid to ask plenty of questions. Everybody has to start somewhere so they may be sympathetic to what you’re going through.

Do some research on your own. Learn all you can about:

The different architectural home styles
Blueprints (and how to read them)
Home construction methods and materials
Site layout and design

“All it takes is a little bit of time for an agent to understand builders — why they do what they do — to reap the rewards the new-home market can deliver,” according to Caballero.

When you have time…below are some marketing tools to help support your success.

1. Put Your Real Estate Business a Step Above with Your Own Branded Magazin

Homes & Life Magazine is a customizable magazine with rich, full-color content and a sharp, professional aesthetic. It includes compelling, direct, response-driven articles written by real estate industry experts and engaging lifestyle content. Send out Homes & Life Magazine in Just Minutes – No Minimums Required. Or we’ll ship it to you. Homes & Life Magazine is the ultimate “Coffee Table Lingerer”! …and it costs less than sending a greeting card! – Click Here

2. The Free 6-Month Done-For-You Strategic Marketing Planner

The Real Estate Marketing Planner is a powerful 6-Month Guide that strategically defines what marketing to do and when. Four key market segments include niche Markets, geographic farming, sphere of influence, and past clients. – Click Here

3. The Free Online Real Estate Business Plan

The Real Estate Business Plan allows you to enter your business goals for the year and get a breakdown of how many prospects, listings, closings, and so on are needed to reach your financial goals. – Click Here

4. The Become a Listing Legend Free eBook

This image has an empty alt attribute; its file name is Become-A-Listing-Legend-3D-Book-White-274x300.jpg

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

Happy New Year! What Will You Do Differently in Your Real Estate Business This Year?

Jan 2, 2024

Although the attribution is under debate, Albert Einstein famously defined insanity as “… doing the same thing over and over again and expecting different results.”

Regardless of who truly gave that one to the world, it sure is true, isn’t it?

As we head into a fresh, new year, it’s time to do a lookback at 2023. What worked? What didn’t? What did you hope to accomplish that you didn’t? Where are the gaps in your marketing plan that need to be filled?

Is this the year you’ll hire help?

Today we throw out some ideas. No, nothing new, but perhaps new to your business in 2024.

Understand your audience

“Census data shows that 4 in 10 Americans are finding it difficult to cover their expenses,” according to Emma Newbery at Fool.com.

“On average, Americans need an additional $11,434 to afford the same standard of living in October 2023 compared with January 2021 …,” suggests Aimee Picchi at CBSNews.com, citing a study by the U.S. Senate Joint Economic Committee.

Sadly, the media doesn’t seem to understand the plight of average Americans in this economy. They deliver the news as if we’re doing peachy, making money hand over fist without a care in the world.

Naturally, those struggling the most are not likely in the market to buy a house right now. But, rest assured that a chunk of the higher earners in that 40% of Americans just may be.

The Get More Listings II Series is shown above. To learn more, Click Here.

Are you online enough?

Strengthen your online presence via social media and a robust offering of advice and information on your website.

The secret? Ensure that what you post is irresistibly sharable.

These topics don’t all have to be real-estate related. In fact, those that are shared the most tend to be community-related, such as those about local coffee shops, restaurants, dog groomers, etc.

Yes, you’ll want to throw in educational real estate pieces to show your expertise and educate your followers. But social media is a place for them to get to know all aspects of who you are.

Get a Niche

Have you considered specializing in a real estate niche? Focusing on one group of people, type of property or neighborhood is an amazing way to stand out from the crowd of other agents in your area.

Popular and lucrative niches include:

People – veterans, ethnic, foreign buyers, generational (for instance, baby boomers, or Gen X), new-home buyers.
Geographic – as mentioned earlier, this might be specializing in a particular neighborhood, condo community, or beach-front properties for instance.
Property type: luxury, starter homes, condos, multi-generational homes, new construction, waterfront, golf course.

Use your content, both website and social media, to show them you’re not blind to their plight. Keep them abreast of the local market, but have some fun too. Any positive news you can provide will have them coming back for more.

When you have time…below are some marketing tools to help support your success.

1. Put Your Real Estate Business a Step Above with Your Own Branded Magazine

2. The Free 6-Month Done-For-You Strategic Marketing Plan

3. The Free Interactive 6-Month Real Estate Business Review

The Free Interactive 6-Month Real Estate Business Review allows you to enter your business goals for the remainder of the year and get a breakdown of how many prospects, listings, closings, and so on are needed to reach your goals. – Click Here

4. The Become a Listing Legend Free eBook

Outpace the Competition: Build Your 2024 Real Estate Marketing Strategy Now

Nov 15, 2023

The end of the year is creeping up on us and with it comes the inevitable look-back on your real estate business. How’d you do?

If you didn’t get the results you were aiming for, your year-end business planning may require an overhaul of your real estate marketing plan.

It takes money

It may sound like a “well, duh” statement, but a marketing plan requires a marketing budget. Study your current year’s revenue numbers and commit to spending at least that on next year’s marketing.

A couple of years ago, Attom Data Solutions published the results of a survey of real estate agents, brokers, owners, and marketers to determine where they are “spending their largest portion of marketing dollars” and which method brings the best results.

Thirty-five percent of agents spent the most on social media while 20 percent spent the most on buying leads.

Regardless of how you spent your marketing dollars this year, the most important aspect of planning is that look back to figure out what worked and what didn’t. Naturally, you’ll want to reconsider underperforming real estate marketing methods and amp up anything that worked.

Chop your efforts into segments, such as:

Lead generation
Client retention
Building your SOI

Then, decide how much you’ll allocate for each in the budget. Naturally, you’ll want to spend the most on which effort brings you the best results. For some agents, client retention dollars result in the best ROI, while others may choose to go bigger on real estate lead gen.

Even if it’s just 2 percent of revenue, you’ll have enough money to engage and retain current clients “with simple tools and strategies,” according to Chris Beecher, president of thewholebraingroup.com.

Next, determine the strategies you’ll employ, such as social media, paid advertising, blogging, email, and direct mail marketing, and allocate an amount of the budget to each.

The Looking For Listings Series is shown above. To learn more, click Here.

How will you broadcast your marketing message?

How you will market in the coming year depends a great deal on your budget but also on those segments we mentioned earlier. Lead generation is costlier than client retention, so you may want to take a look at some of the less-expensive methods if you choose to focus on the former.

These might include beefing up your social media presence (by blogging more and posting to your preferred social media platforms), knocking on doors, etc.

A planner will help keep you on track

A planner is a must if you hope to keep your marketing efforts on track all year. We offer a Free 6-Month Real Estate Marketing Planner to help with this task (a new 2024 Planner will be available soon, so watch for the announcement in our weekly emails).

Although it’s important to create a coming-year marketing plan for your real estate business, don’t become a slave to it. If something doesn’t appear to be working, replace it with something else.

The key to success in real estate lead generation and client retention is consistency. Having a plan will ensure this.

PLUS: When you have time…below are some marketing tools to help support your success.

1. Put Your Real Estate Business a Step Above with Your Own Branded Magazine

2. The Free 6-Month Done-For-You Strategic Marketing Plan

3. The Free Interactive 6-Month Real Estate Business Review

4. The Become a Listing Legend Free eBook

Safeguarding Your Real Estate Business in an Uncertain Market

Oct 11, 2023

In the ever-changing landscape of real estate, market conditions can be as unpredictable as they are promising. As a real estate professional, safeguarding your business in an uncertain market is crucial to surviving and thriving in any economic climate.

Whether it’s a fluctuating economy, unexpected events, or shifts in buyer behavior, here are some strategies to help you navigate the uncertainties of the real estate market.

Diversify Your Services:

Diversifying your services is one of the most effective ways to protect your real estate business. Don’t solely rely on buying and selling homes.

Build a Robust Online Presence:

In today’s digital age, a solid online presence is non-negotiable. Ensure your website is user-friendly, mobile-responsive, and optimized for search engines.

Consider offering property management, real estate investment consulting, or rental services. By expanding your offerings, you can maintain a steady income stream even when traditional home sales slow down.

Engage with your audience through social media platforms and create valuable content that establishes you as an industry authority.

A solid online presence will help you remain visible and attract potential clients, even when the market is uncertain.

Cultivate Client Relationships:

Your clients are your most valuable assets. Nurture these relationships by providing exceptional service and staying in touch regularly.

Send personalized postcards, newsletters, or occasional check-ins to show your clients you care.

Building trust and maintaining strong client relationships can lead to repeat business and referrals, helping you weather market fluctuations.

Stay Informed and Adapt:

Uncertainty often arises from external factors like economic downturns or unforeseen events. Stay informed about local and global economic trends, market conditions, and regulatory changes to safeguard your business. B

e prepared to adapt your strategies as needed. Flexibility and a willingness to pivot when necessary can make a significant difference in your business’s resilience.

Manage Your Finances Wisely:

Proper financial management is essential during uncertain times. Create a budget, save for contingencies, and consider reducing unnecessary expenses.

Ensure that you have a financial cushion to cover your business and personal expenses during periods of reduced income. Consulting with a financial advisor can help you make informed decisions.

Network and Collaborate:

Networking with other real estate professionals and collaborating with complementary businesses can open new opportunities.

Building a network of trusted colleagues can lead to referrals and cooperative marketing efforts that expand your reach, even when the market is challenging.

Focus on Education and Training:

Invest in continuous education and training to stay ahead of industry changes. Learning about emerging technologies, market trends, and innovative sales techniques can give you a competitive edge.

Well-informed agents are better equipped to adapt to changing market conditions.

Safeguarding your real estate business in an uncertain market requires a proactive and adaptable approach. By implementing these strategies, you can position yourself as a resilient and successful real estate professional ready to face any market’s challenges.

PLUS: When you have time…below are some marketing tools to help support your success.

1. Put Your Real Estate Business a Step Above with Your Own Branded Magazine

2. The Free 6-Month Done-For-You Strategic Marketing Plan

3. The Free Interactive 6-Month Real Estate Business Review

4. The Become a Listing Legend Free eBook

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