Level Up - From Agent to Entrepreneur

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How Tech Companies Can Impact the Future of the Buyer Agent

Technology is causing so many great changes that it can be hard to keep up with it all. What can you do to avoid being negatively affected by shifts in the industry? Is there a threat of our commissions being decreased? What changes might technology bring to buyer’s agents, and how do we adapt to an industry moving so quickly? On this episode, we talk about how agents can prepare themselves for what’s to come.  


The experience we provide needs to not only be a “wow” experience, but a
relevant “wow” experience. -Greg Harrelson

 

Takeaways + Tactics

  • Real estate agents have to learn how to survive when there’s pressure on commissions.
  • Right now, it’s better to have a smaller database with high engagement and high connectivity than a large database.
  • Our primary value to the market isn’t negotiation-- it’s marketing and attracting the right types of buyers.

 

In the future, real estate agents might make less money, but this does not mean that the consumer is paying less. It means that the piece of the commission pie might get smaller because it’s being distributed amongst additional players. We’re progressing to a point where tech companies will have a bigger stake in real estate. There will constantly be new things coming in from technology companies that will make it easier for consumers, agents and tech companies to justify getting a small piece of the transaction. Agents will have to learn how to thrive when there’s pressure on commissions.

 

InfusionSoft for real estate. Get up and running fast with our Real Estate Package! 9 pre-built Infusionsoft campaigns, all ready to go.

Connect on Facebook. Follow Greg for more motivational content to take your real estate business to the next level

 

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Increasing Your Market Share in a Hot Market

In a hot market, skilled agents find themselves competing with less skilled agents for clients who may not be able to see the difference right away. How do you prove yourself when the consumer isn’t really looking for skill? Why is a down market actually a lot easier to grow in? How do you go about growing your market share when so many people want a piece of the pie? On this episode, we talk about what it takes to grow your business when the market is up.

 

Focus on the systems you have in place and make small tweaks. Then let the compound effect be the reason why you gain market share. -Greg Harrelson

 

Takeaways + Tactics

  • In a down market the consumer is hiring for skills; But in a hot market they’re just hiring warm bodies.
  • There are still plenty of transactions in a down market-- there are just fewer agents going after them.
  • Don’t reinvent the wheel or focus on shiny objects. Double down on what’s working already.

 

In a hot market, you get more people with low skill sets flocking to the real estate industry because they think they can make some quick money. In a down market these people leave the business and the skilled agents are in much higher demand. In a hot market, we have more money to buy more shiny objects and open up more circles that we never complete. Those things become distractions that stunt growth. In a down market there are less distractions, and the agents with skill and experience rise to the top, especially when they focus on what works.

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Building a Recession-Proof Real Estate Team w/Jeff Cohn

The question of a market correction or shift isn’t an “if”, but rather “when”. What is the sequence of events that follows a market shift? How can leaders prepare their followers mentally, financially and behaviorally for the change? How do you make sure you don’t just survive a correction, but actually thrive through it? On this episode, we do a crossover with Jeff Cohn from the Team Building podcast to discuss getting your business ready for a market correction.

 

 

You must have a road map. If you’re tracking your numbers and have good analytics, you’ll have that road map. -Jeff Cohn

Takeaways + Tactics

  • You need to be prepared for the next shift three years prior to it happening.
  • When the number of transactions go down in your market, the number of contacts you make must go up.
  • When you see a professional in an industry start to offload their listing inventory, it’s a good indicator that there’s something coming around the corner.
  • Spend 80% of your time on lead sources that brought in the most business, and put 20% of your time into 2 or 3 other areas.

 

At the start of the show, we talked about how to prepare yourself and your team for a correction. Next, we talked about how you can go about making the proper adjustments right now, and why it’s so necessary to increase your contacts. We also discussed who a true leader should care about serving, and leveraging your team around the most important activities.

We also discussed:

  • The necessity of training
  • Patterns of a successful business
  • How to level up and find the best use of your time

 

When the market shifts, there’s going to be a period of denial and depression, followed by confusion and desperation. If you make the proper adjustments now, you can be prepared well in advance. When the ratios start to slip, you need to immediately start increasing your contacts and maintain a vehicle to generate buyer business. You want your agents focused on doing the highest-producing activity. This will likely be outbound prospecting via phone, meeting with clients to show presentations, and signing exclusive agreements. Leverage your team so that this is the priority.

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From Zillow to Century 21 CEO: Nick Bailey Discusses Big Data, the Future Role of an Agent and How Amazon Could Get in the Game

Real estate agents tend to have an identity crisis from handling so many different facets of the business. Who are we supposed to be? And who does the consumer want us to be? How are we going to use data and predictive analytics to improve their experience of buying or selling? On this episode, Century 21 CEO, Nick Bailey talks about how agents should prepare themselves right now for the changes tech is bringing to the industry.

 

 

We have an opportunity to leverage technology to make the process a better experience for buyers and sellers. -Nick Bailey

Takeaways + Tactics

  • From the initial decision to buy or sell, the average transaction has 181 steps to close.
  • Prospecting is 100% a contact sport. Go where the consumers are and engage with them.
  • FSBOs are the lowest they’ve ever been, and they are lowest in the millennial demographic. Consumers value the relevant service that agents are bringing.
  • We're going to see better usage of predictive analytics vs. trying to market to everyone the same way

 

At the start of the show, Nick gave a brief background of his career and we started talking about how technology and the internet are creating more confusion for agents, and how we can cut through this confusion. Next, we talked about how technology can be used to make the transaction process less daunting for consumers, and the importance of putting our focus on the consumer.

We also discussed:

  • The use of data and predictive analytics to anticipate the needs of the market
  • How to prepare for the changes that are coming
  • What’s causing the decline in FSBOs

 

Consumers are living in a world where technology has given them easier access to data and information, and this applies to real estate too. The conversation in our industry should be more about the consumer and less about what we want in the industry. Listening to the consumer is what will improve the way we use tech, communication, tools and services to help them. The future is going to be less about waiting to get a lead from Zillow and more about engaging and using predictive analytics to get into a relationship with the consumer even before they seek another source.   

 

Guest Bio

Nick Bailey is President & CEO of CENTURY 21. Find him on LinkedIn: https://www.linkedin.com/in/nick-bailey-7286bb10/.

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How Tristan Ahumada Built a Hugely Successful Community Based on Giving Value

Many agents start community Facebook pages that fail to gain traction and engagement. How can you build engagement and interaction on your community page? How do you go about trying new tools without losing your message? What lessons can real estate agents learn from one of the most successful real estate communities on Facebook? On this episode, we are joined by LabCoat Agents founder, Tristan Ahumada who shares on the techniques, mindsets and practices that have been instrumental in the success of LabCoat Agents. 

We started a community based around a centralized idea of sharing systems, tools, and tech to help people get to the next level. -Tristan Ahumada

 

Takeaways + Tactics

  • Content, consistency, and community are the key to success.
  • Once you start giving content and value, it’s a matter of doing it everyday.
  • If you don’t have an audience, you might as well just talk to yourself in the mirror.

 

Resources

InfusionSoft for real estate. Get up and running fast with our Real Estate Package! 9 pre-built Infusionsoft campaigns, all ready to go.

Connect on Facebook. Follow Greg for more motivational content to take your real estate business to the next level

 

At the start of the show, we talked about how LabCoat Agents got started and what contributed to their organic growth and success. Next, Tristan shared on the techniques that will boost your engagement and how to take advantage of new tools without losing your message and your point of view.

We also discussed:

  • The importance of an audience
  • The monetization piece
  • The importance of leading with quality content and consistency

When your main goal is to provide as much value as possible to your consumers, people will be attracted to your community. It’s all about starting with the end in mind by finding those people in the community you can trust to bring in and help you grow. If people don’t start sharing, you won’t get anywhere. It’s also important to have a solid name and idea of what you want it to be. No matter what, be committed to consistently giving to your audience every single day.

 

Guest Bio

Tristan is the Team Leader at Tristan and Associates KW Realty and Creator and Co-Founder of LabCoat Agents. Go to https://www.labcoatagents.com/ or find the group of Facebook https://www.facebook.com/groups/labcoatagents.

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How to Run the ISA Model Effectively w/Aaron Rian

The general industry looks at the ISA as someone who is only responsible for response time, but our guest has put a whole new twist on it. How can you elevate the ISA role so it can benefit your business even more? How can you run each department of your business like its own business? On this episode, we are joined by Aaron Rian who shares how he built a prospecting machine and a powerful internal sales team.

Just because you’re good at selling real estate doesn’t mean you can run your business or that you’ll be good at everything. - Aaron Rian

Takeaways + Tactics

  • You can use ISA's to do more than just scrub leads or increase response time.
  • ISA's can actually generate and set 98% of the appointments your virtual agents take.
  • To branch out into certain areas like running ISA teams or building side businesses, you need to build your entrepreneurial skill set, not just your sales skill set.

 

At the start of the show, Aaron shared his team’s structure and distribution of virtual agents and in-office agents. Next, we talked about how his team uses the ISAs as the front end of their prospecting process, how to run each department like a separate business and why it’s hard to out-recruit a team like Aaron’s.

We also discussed:

  • Why being good at real estate doesn’t translate to entrepreneurial prowess
  • Aaron’s team’s use of Transaction Coordinators
  • How Aaron built a digital media agency

By putting more training into your ISAs, you can get them to speak intelligently enough to the lead to get them interested in the company and interested enough in the agent that they want the appointment. Instead of seeing them as people who are in charge of your response time, think of them as the front end of your whole business. When you start to run each of your departments like they are standalone businesses, the performance, ROI and conversion rates will go through the roof.  

Guest Bio
Aaron is the Operating Principal at the Rian Group, Best Selling Author and Talk Radio Show Host. His clientele consist mostly of athletes, corporate executives and high net worth individuals from around the world. Go to http://theriangroup.com/ for more information or call 503-343-1666 with any referrals.

Resources

InfusionSoft for real estate. Get up and running fast with our Real Estate Package! 9 pre-built Infusionsoft campaigns, all ready to go.

Connect on Facebook. Follow Greg for more motivational content to take your real estate business to the next level

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When You’re Tired of the Grind: How to Create Come-List-Me Content w/Frank Klesitz

Most agents think the only asset their business needs is their skill. How does this set you up for a business that requires you to always be on the hunt? How can you use content to position yourself as an expert and attract business this way? Why is it dangerous to go into real estate only looking out for yourself? On this episode, we are joined by Frank Klesitz who shares his insights on the smart way to get out of the grind.

The asset is not how many people you know-- it’s how many people know you. - Frank Klesitz

Takeaways + Tactics

  • You can scale a message, but you can’t scale a relationship.
  • Attention is an expensive thing to earn.
  • Your content doesn’t have to be ground breaking-- it just has to come from you in an authentic way.

Resources

InfusionSoft for real estate. Get up and running fast with our Real Estate Package! 9 pre-built Infusionsoft campaigns, all ready to go.

Connect on Facebook. Follow Greg for more motivational content to take your real estate business to the next level

 

At the start of the show, we discussed how the word “grind” is just a perception, and the importance of starting to plan for your future right now. Next, we talked about how to define a real asset in business. Towards the end, we talked about how to go about finding content topics and what it takes to create valuable content.

We also discussed:

  • How to monetize the “no’s”
  • How to get people to spend time with you online
  • The drawbacks of one-to-one prospecting

When you go from agent to entrepreneur, one of the key things you realize is that you have to build an asset that goes beyond your skill. The real asset is how many people know who you are, spend time with you, and trust you. If you want to be successful, start scaling your message in some way, and get good at publishing and making people spend time with you online. Think about being an expert provider of really helpful content that’s so good that people would be willing to pay to receive it. The real asset in business is a thriving audience of people who want to buy what you sell.

Guest Bio
Frank Klesitz is the CEO and co-founder of Vyral Marketing. Go to getvyral.com for more details.

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Self-Leadership

We’re all leaders because we lead ourselves. Why do you have to be a good self-leader before you’re qualified to lead others effectively? What makes someone a great leader? On this mini-episode, we talk about how to be a better leader, and the secret so few people know about leadership.

Takeaways + Tactics

  • You have to be an effective self-leader before you lead others because it gives you credibility.
  • If you’re having trouble leading others, you have problems with self-leadership.
  • You must be the example for other people to follow.  

A lot of people have a hard time attracting loyal followers because they weren’t followers themselves in the first place. They don’t lead themselves, and that makes it impossible for them to lead others. The truth about leadership is you become better by becoming a great learner, and a great player who follows a great coach. It all starts with you, so ask yourself if you’re a great follower of the things that you say and if you have integrity with the things you tell people do.

Learn more about Infusionsoft for real estate: http://www.realestatesalessolutions.com/

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The Value of Culture w/Rett Harmon

Like it or not, every company has a culture. How do you build a good company culture intentionally? How can you become a community expert in your market? On this episode, we are joined by agent and team co-broker owner, Rett Harmon, who shares on how to be authentic and how he was able to build a company he enjoys.

 

You need to be same person that you are online as you are offline. - Rett Harmon

 

Takeaways + Tactics

  • Company culture is either built by design or by default.
  • Owning the market starts with owning the minds of your community.
  • When you’re authentic, you attract people who really fit in with your culture.

At the start of the show, Rett shared his team structure and how every business has a culture either built intentionally or unintentionally. Next, we talked about how his team uses community content to position themselves as experts. Towards the end, Rett talked about the importance of being a consistent brand.

We also discussed:

  • How to know if your community content is effective
  • The importance of authenticity
  • Developing an intake criteria for your recruits

Building and sustaining a culture is all about authenticity, and that starts with how the leaders show up and present themselves. If who you are online is different from who you are offline, that inconsistency will show. You don’t have to be everything for everyone, but you do have to find your own lane and own it. Invest in people who share the same values as you and your team. All these things are necessary as you design your team culture.

Guest Bio
Rett Harmon has been a licensed real estate professional for 15 years in the both Georgia and Alabama. He is both an active agent and co-owner of CENTURY 21 Novus Realty. Go to https://www.c21novus.com/ for more information.

 

Resources

InfusionSoft for real estate. Get up and running fast with our Real Estate Package! 9 pre-built Infusionsoft campaigns, all ready to go.

Connect on Facebook. Follow Greg for more motivational content to take your real estate business to the next level

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Anticipating the Obstacle and Creating the Solution

This is the time of the year where we evaluate the market for potential risks, and a huge one right now is the risk for low inventory. Why is it so important to plan ahead for these events? How do you fortify yourself from the eventual reduction in inventory? On this episode, we talk about the importance of being ready for potential market risks.

When I’m already solving a problem that doesn’t yet exist, the problem never appears. -Greg Harrelson

Takeaways + Tactics

  • There’s a lot of quick, easy money on the buyer’s side right now, so people don’t think they need listings.
  • If the market continues to rise, sellers are going to slow the pace of houses on the market because they are playing the market for appreciation.
  • The two most effective ways to generate leads in a low-inventory environment are expireds and FSBOs.

The goal in business is to always start working a plan as if an upcoming obstacle is there now. You have to set up the systems right now to combat the risks when they do appear. Just because there’s a lot of buying happening right now, don’t fall into the trap of not building up your listings. If inventory to sell runs out, you’re in a better position if you’ve been cultivating listings. Right now, you have a good story to tell sellers in prospecting which is that prices are increasing and inventory is low, so their house could be worth more. That’s a winning script.

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