Real Facts on Real Estate

Audit Your Real Estate Business - EP194 - Real Facts on Real Estate

In this episode we discuss that when growing a business it is easy to get complacent with the growth and not pay attention to what makes the money. Make sure to take time to look back at what is and what is not working. In making decisions on the direction your company is headed make sure to keep in mind the time needed to measure success. Often people rush the results and do not wait patiently for the investment to work out. Think of yourself as a mirror when looking into your business. If you can not be as honest as a mirror then hire a third party to give an outside opinion or you may hide from reality.

Working Platform Leads vs Your Sphere of Influence - EP193 - Real Facts on Real Estate

In this episode we discuss that most platform leads cost upwards of 25-40% of the total commission. This is a very expensive way to grow a real estate business. When buying portal leads you must look at the lead as the portals once and yours forever. You must cultivate great relationships that lead to multiple transactions to make the ROI worth it. Working with your sphere of influence is a much more cost effective way to grow. Your sphere not only will choose to use you, they will enjoy the process.

The Early Bird Gets the Worm - EP192 - Real Facts on Real Estate

In this episode we discuss that when you start your day earlier than other people there are less distractions. Use this time to focus on getting the behind the scenes tasks of your job done. Formulating lists, filling out paperwork, planning, and research can all be done before hours. Doing all this before the phone rings ensures you get it done. When you get all your paperwork and other business related tasks done you are ready to start showings. Now you can go off to your showings with no worries of what still needs to be done.

Lead Follow Up - EP191 - Real Facts on Real Estate

In this episode we discuss that when following up with a lead it is important to go at it confidently and offer value. Failure to do so will just lead to constant rejection. Make sure to keep great notes when working on leads. By doing so each time you reach out you can refer back to the last call to show you are listening. Plan a follow up schedule and stick to it. Going in and out based on being busy leads to bad lead conversion and a cyclical sales cycle.

The Five Worst Questions an Agent Can Ask - EP190 - Real Facts on Real Estate

In this episode we discuss that the question are you pre-approved yet seems like such a simple question to ask. The reality is when asked at the wrong time or the wrong way it can come off very offensive or as an easy out. When showing houses it is important to remember that the property is for the client and not you. This means questioning the sizing of bedrooms or other house details may offend your client. Asking someone at an open house if they have an agent is an easy out for them to say yes and be left alone. Instead ask them conversations starting questions like “What brings you out to the open house?” or “ Where did you travel from today?”.

Asking the Right Questions - EP189 - Real Facts on Real Estate

In this episode we discuss when it comes to gaining people's trust it is all about asking the right questions. Asking a few key questions will help you put your clients at ease. When asking questions in real estate we are looking to uncover the true why. Often we get buried in the client’s wants vs their why. Focusing on learning more about our clients highest and best use for the property ensures we can be helpful in the search. Take more time to really get to know your clients.

How Large is Your Network - EP188 - Real Facts on Real Estate

In this episode we discuss why when it comes to the size of one's network most people make an understatement. This allows them to enable themselves when not enough action is going on. When thinking about how large your network really is, get creative. Think about all the lives you have touched during your time on this planet. Just because you do not directly know someone does not mean you do not have access to them. Start to ask more “who do you know?” style questions.

It is Not Your House - EP187 - Real Facts on Real Estate

In this episode we discuss that when working with clients it is important to put their thoughts and needs first. Directly injecting your opinion only makes things more challenging. There are lots of properties along highways, power lines, near parking lots, and other configurations. That same person who likes that may not like rural listings. Calling a room size small can offend a buyer. What if this is the first time they ever all had their own bedroom and you called it small?

The Importance of Framing Your Words - EP186 - Real Facts on Real Estate

In this episode we discuss when we want someone to do something one key element is asking correctly. This technique is called framing. Often when we see the news reporters ask people questions on scene we witness framing. Instead of asking an open ended question they use keywords to direct the person's thoughts. When introducing the idea of asking for something from the other party in a real estate transaction, framing becomes essential. Instead of saying to your client that the other party should do something we say “I will check with the other party and see what they say”.

Being on Time - EP185 - Real Facts on Real Estate

In this episode we discuss why real estate is a business where we meet on location and constantly are on the move. Make sure to plan your trips so you can always be on time. Being on time does not mean showing up at the exact moment you're scheduled. It means getting there early and preparing for your appointment. When facilitating a showing, get there early to get comfortable with the home. It is OK to make an early client wait while you prepare the home.