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Sunday, November 17, 2024

real estate business

    Welcome to the real estate business. You’re joining more than 1.3 million other professionals, at varying stages of their careers.

    In fact, nearly 30 percent of agents in the U.S. have less than two years of experience (and the largest share of that group is aged 45 to 54), according to the NAR, so you are in good company.

    Your first few years in your new broker’s office will be an eye-opener. Some of your misconceptions about being a real estate agent will be corrected and you’ll hear conflicting advice on everything from how to generate leads to how best to construct your new website.

    We’ve gathered some of the most common misconceptions new agents harbor and dragged them into the glaring light of reality.

    By the way, since the majority of real estate agents are female, we’ll be using the feminine pronoun throughout. (Sorry guys).

    SOI scheduled campaigns shown above are on sale 10% off the first month. Use promo code: SPHERESALE (offer expires 5.28.22). Campaigns shown from left to right are Recipe I, Get More Listings, Quotes, and Inspiration Series, To see more campaigns, Click Here.

    Myth #1: Your broker is your boss

    Reality: One of the hardest habits that new agents find hard to break free of is the “employee mentality.”

    Sure, a handful of brokerages across the country hire agents as employees, but the vast majority of agents are independent contractors. They are, in reality, small business owners.

    As an independent contractor, working under a broker’s license, your broker is not your boss. She cannot (according to the IRS):

    • Direct and control your work
    • Tell you where and when to work
    • Dictate which tools you use or where to purchase supplies and services
    • Limit your ability to seek out business opportunities
    • Guarantee a regular wage amount
    • Provide employee-type benefits, such as health insurance, vacation or sick pay, or a pension plan. 

    As a small-business owner, you create your schedule, budget, marketing plan, health insurance, and anything else required of the typical small business owner.

    In other words, you are your own boss. The growth and success of your business are completely up to you.

    Build a robust SOI with the Free BusinessBase Tool, Here
    Myth #2: Your broker will provide you with leads

    Reality: This one goes hand-in-hand with Myth #1. Unless your broker is your employer, you can typically count out getting leads handed to you. 

    As a self-employed agent, you’ll need to drum up your own business and fill your own pipeline.

    How to start?

    • Get your real estate website up and running and fill it with hyper-local information
    • Offer to hold open houses for other agents’ listings
    • Fill your CRM with your sphere’s contact information and start calling them. Download the FREE Businessbase, HERE, for help building a robust SOI list. Then launch an SOI scheduled campaign, HERE.
    • Determine an area to start farming near where you live or in your own neighborhood. Launch a Farm scheduled campaign, HERE, to start branding yourself in the neighborhood.

    One of the biggest myths that the public holds about real estate agents is that anyone can do your job.

    Succeeding as an agent, however, requires far more than just getting your license. That being said, we know you can achieve success with the right tools and attitude.

    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

    Homes & Life Magazine is a customizable magazine, with rich, full-color content, and a sharp, professional esthetic. It includes compelling, direct response-driven articles written by real estate industry experts, combined with 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 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 Markets, geographic farming, sphere of influence, and past clients. – Click Here

    3. The BusinessBase, SOI building system

    The most effective thing you can do to build a real estate business is to become more visible, more likable, and remembered more often. The BusinessBASE™ not only checks all of these boxes, but it is a business building machine. In two easy steps, you can begin to build a robust sphere of influence that will provide you a lifetime of repeat business and referrals. – Click Here

    4. The Free Interactive Real Estate Business Plan

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

    5. 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

    6. The Take a Listing Today Podcast

    Watch the ProspectsPLUS!, Take a Listing Today Podcast for actionable content to help you get more listings. – Click Here

      One of my agent friends, a veteran of the industry, once told me that to get agents to attend her broker opens, she would serve food. Not cookies and coffee, but actual buffet-worthy goodies. Now, this was way before serving food at these events became commonplace. 

      She explained that not only do agents appreciate something to munch on early in the morning but that they also LOVE anything that’s free.

      If you’re among the freebie lovers in the industry, take a look at the following list of free stuff that’s perfect for real estate agents.

      1. DottoTech Videos on YouTube

      Thanks to the amazing Melissa Zevala’s website for information on this freebie. Hosted by Steve Dotto, these tech videos seem custom-made for the real estate agent.

      A random sampling of his YouTube channel’s home page finds videos about Google Maps, Google Docs, Zoom tutorials, graphics tutorials, and more. If you’re searching for anything regarding tech, content creation, and productivity, stop by Dotto’s channel.

      The Looking For Listings scheduled campaign is shown above. To see more, Click Here.

      2. Zoom

      Ok, so it’s not new. It is, however, among the coolest and most useful freebies an agent can have. Virtual appointments free the busy agent from the time suck that is driving all over town to visit clients in person.

      “We’ve seen clients take multiple listings a day [via Zoom], and never leave their house. That’s amazing,” says Brian Icenhower at therealestatetrainer.com. He also suggests using Zoom for client check-ins, especially listing clients.

      “Simply share your screen and show your clients the numbers firsthand! This is huge for your customer service, and a huge value add for your clients.”

      Zoom offers several pricing packages and the lowest price one (which is free) includes:

      • Hold as many meetings as you want with a 30-hour time limit per meeting (yes, the website says “30 hours”).
      • Group and private chat
      • The ability to host up to 100 participants

      See the rest of what comes with the free package at zoom.us.

      3. Canva

      Created in Australia and launched in 2013, Canva is hardly a piece of new technology. And at almost 20 years of age, it’s hard to believe that most of its functionalities are free.

      A graphics creation app, or as Dotto calls it, a “template-based graphics app,” Canva is ideal for creating presentations, fliers, graphs and charts, social media graphics, business cards, photo editing, and more.

      If you’ve never used Canva, you’ll be happy to know that online tutorials abound. Canva, in fact, has an entire library, known as their “design school,” that you’ll find at canva.com. Need more? Head on over to YouTube.com.

      Once you create a direct mail piece on Canva you can upload your design to ProspectsPLUS! to mail out. To make sure you have the correct dimensions to upload to ProspectsPLUS! check out this easy how-to.

      While the above freebies are quite well-known, we’ve learned that they’re highly recommended among real estate agents. If you have never used them, check them out!

      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

      Homes & Life Magazine is a customizable magazine, with rich, full-color content, and a sharp, professional esthetic. It includes compelling, direct response-driven articles written by real estate industry experts, combined with 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 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 Markets, geographic farming, sphere of influence, and past clients. – Click Here

      3. The BusinessBase, SOI building system

      The most effective thing you can do to build a real estate business is to become more visible, more likable, and remembered more often. The BusinessBASE™ not only checks all of these boxes, but it is a business building machine. In two easy steps, you can begin to build a robust sphere of influence that will provide you a lifetime of repeat business and referrals. – Click Here

      4. The Free Interactive Real Estate Business Plan

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

      5. 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

      6. The Take a Listing Today Podcast

      Watch the ProspectsPLUS!, Take a Listing Today Podcast for actionable content to help you get more listings. – Click Here

        Remember the days when real estate agents considered themselves sales professionals? 

        Today, most consider themselves to be ace relationship builders and wince when anyone regards them as someone in the same category as a person who sells cars.

        However, a strong, well-maintained network can sustain your business for decades to come.

        But, wait, “network” isn’t only a noun

        When you “… interact with others to exchange information and develop professional or social contacts,” and relationships, you are networking. Generally speaking, there are three types of networks that real estate agents participate in:

        • Professional
        • Peer
        • Client (or prospects and leads)

        All three provide different results, but today we are addressing the potential client variety of networking.

        While it’s the wise agent who schedules time to nurture their current networks, those a step ahead are also adding to it, by networking.

        Networks should be diverse

        Unless you’re building a professional network, choose events and opportunities outside of the real estate industry. This might include chamber mixers and school board or PTA meetings where you’ll be exposed to those who are active in bettering your community. 

        Diversity in your networking, however, is critical, so branch out to other opportunities as well.

        Consider creating a community service network by joining the local chapter of the Lions Club, Rotary or Jaycees.

        “If you consistently push your boundaries and work to broaden your sphere of connections, over time, you will run into opportunities that others would only be able to describe as luck,” suggests Maria Arauz with the Keller Center for Research at Baylor University.

        The Content Card Series is shown above. See Content Card postcards, HERE. See Content Card scheduled campaign information, HERE.

        Break the ice … Gently

        Naturally, you’ll want your new network of possible clients to understand what you do for a living, but there’s a right way and a wrong way to let them know.

        “If you go to networking events with the intention of just trying to sell to people, they won’t want to meet with you later because they know you’re going to pitch to them,” cautions author and keynote speaker Ivan Misner at entrepreneur.com.

        These are the overtly salesy folks who approach others at events, business card in hand. 

        “Be interested, not interesting” Misner continues. “It’s not all about you.”

        If you want to make a true connection, make the conversation all about them. No pitches, no asking for business.

        Sure, it takes time to network. Step one is making the time. Step two is showing up.

        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

        Homes & Life Magazine is a customizable magazine, with rich, full-color content, and a sharp, professional esthetic. It includes compelling, direct response-driven articles written by real estate industry experts, combined with 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 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 Markets, geographic farming, sphere of influence, and past clients. – Click Here

        3. The BusinessBase, SOI building system

        The most effective thing you can do to build a real estate business is to become more visible, more likable, and remembered more often. The BusinessBASE™ not only checks all of these boxes, but it is a business building machine. In two easy steps, you can begin to build a robust sphere of influence that will provide you a lifetime of repeat business and referrals. – Click Here

        4. The Free Interactive Real Estate Business Plan

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

        5. 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

        6. The Take a Listing Today Podcast

        Watch the ProspectsPLUS!, Take a Listing Today Podcast for actionable content to help you get more listings. – Click Here

          To get a real estate license in most states all you need do is attend a certain number of hours at real estate school and then pay for and take a licensing exam and, possibly, have your background checked via your fingerprints.

          Voila! You’re a real estate agent, able to counsel consumers on how to buy and sell what may be their biggest asset.

          If you think it’s fairly easy to become an agent, you’re right. Compare the process to what a taxicab driver goes through to get his or her permit:

          Photo Introduction Series
          • Secure a referral.
          • Take the required classes.
          • Complete the Driver’s Awareness Program.
          • Submit the referral to the State Taxicab Authority (NTA) and take their exam.
          • Submit to the NTA’s fingerprint process to check for any criminal history.
          • Submit to a physical examination, vision exam, mental health evaluation, and drug test to ensure you meet the health requirements.

          It’s true, you do have someone else’s life in your hands as a cab driver, so maybe some of these hoops are necessary. Whereas there’s rarely a life-or-death situation involved in helping real estate consumers.

          The fact is, as easy as it is to get a real estate sales license, it’s almost just as easy to lose it. And, surprisingly, you don’t have to be a hardened criminal for it to happen.

          Something as simple as unintentionally leaving out a material fact about a listing could land you in a lot of trouble with your state licensing board.

          That board, by the way, sets the rules under which they will pull an agent’s license. Although each state sets its own regulations for agents, they are all quite similar.

          Photo Introduction Series
          1. Always be honest

          While we all know that life is unfair at times, the fact that politicians, journalists, and others can lie with impunity and real estate agents can’t is a bit unfair.

          Not that you would lie to a client even if other agents were (and getting away with it), but if you do, and you are caught, you may lose your license.

          The state boards don’t call it lying, though. They have other words for it:

          • Omission
          • Exaggeration
          • Misrepresentation
          • Ambiguity

          They’re all types of lies and Beakley says that if you are caught doing any of them … often enough, or big enough … you will lose your license.”

          2. Stay law-abiding

          If you have an active real estate license, you likely don’t have any prior felonies because it’s not possible to get a real estate license in any of the 50 states if you do, according to Paul Beakley at RealtorMag.com.

          So, what if you are convicted of a crime after your licensed? If you live in the right state and are convicted of a crime you won’t lose your license.

          In most states, however, you will. In Texas, for instance, moral turpitude is enough to get your license pulled.

          In Minnesota, your license can be suspended or even revoked for “outstanding tax or child support obligations.”

          3. Keep your client’s money separate

          We’ve all heard the stories about the hapless agent who “borrows” a client’s funds, fully intending to pay it back.

          Then, there’s guys like this:

          [Name has been omitted}, “… a real estate agent and broker from Washington, D.C., was sentenced to prison on a theft charge stemming from the embezzlement of over $100,000 of his clients’ money …” (Justice.gov)

          This particular agent was asking buyers for huge earnest money deposits and then depositing them in his operating account instead of escrow.

          Although he assured the clients the money was safely tucked away in an escrow account, “… he spent their money on himself and his expenses within a few weeks or months of receiving the funds.”

          Yes, he lost his license, and served one year and one day in prison.

          Commingling your client’s money with your own, even temporarily, is a recipe for disaster.

          Stay out of trouble with the state board, be honest, take your time when completing contracts, and get your clients’ money out of your hands quickly. This should ensure you have a long and healthy life as a real estate agent.

          Send the Photo Introduction Series postcard to an area where you want to introduce yourself as the neighborhood expert.

          Need help targeting a specific niche of buyers or sellers? Use our Demographic Search 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 some helpful resources we’ve made available to support your success.

          1.Become a Neighborhood Brand

          Become branded in a specific neighborhood with a 12X15 marketing piece sent automatically each month to an exclusive carrier route. Watch this video to learn more or Click Here.

          2. The Free Real Estate Mailing List Guide

          This image has an empty alt attribute; its file name is Real-Estate-Mailing-List-Guide2-3-D-999x1024.jpg

          The Real Estate Mailing List Guide outlines the top tools for generating targeted prospecting lists including Baby Boomers, Empty Nesters, Investors, Lifestyle Interests, High-Income Renters, Move-Up Markets, and more. The Guide also defines done-for-you marketing campaigns to match these markets. –Click Here

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

          This image has an empty alt attribute; its file name is 2020-Planner-3D-999x1024.jpg

          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

          This image has an empty alt attribute; its file name is Business-Plan-3D-Book-New1-270x300.png

          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. 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

          6. The Free Online ROI Calculator

          This image has an empty alt attribute; its file name is ROI-calculator-b-233x300.jpg

          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

          7. The Free Real Estate Marketing Guide “CRUSH IT” 

          This image has an empty alt attribute; its file name is CRUSH-IT-Guide-3-d-298x300.jpg

          The “Crush It” Guide includes easy steps to launching an effective direct mail marketing campaign, how to create a targeted prospect list, the perfect way to layout marketing materials for success, seven opportunities available to target in your area right now. –Click Here

          © 2024 ProspectsPLUS! | Real Estate Marketing Blog