Level Up - From Agent to Entrepreneur

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New Century 21 CEO - Mike Miedler Discusses Why People Are the Core of Your Business Growth

 

Real estate is a relationship-based business, and we can use technology and professional development to increase and improve the success of our business. How do we create a mutually beneficial environment where we grow as a company and our people also experience personal growth? How do we make technological advancement work for us rather than against us? Why should we invest time and resources into training and coaching for our people? In this episode, Century 21 CEO Mike Miedler discusses why he focuses his attention on training and coaching, and how we should embrace using technology in the real estate industry.

 

 

It’s about understanding the hopes, fears and dreams of our agents and brokers so that we can help them be better with their business. -Mike Miedler

 

Takeaways + Tactics

  • If someone is representing our company well, and we are helping them with their growth, then they are likely to be a great advocate for our brand.
  • We need to embrace technology so that when we are inevitably doing business at a lower margin, we are also dealing with higher volumes. This ultimately increases revenue, profitability, and income.
  • By pushing people forward and giving them the right training and coaching, people can internalize the process, execute it in the field and increase their productivity and profit.

 

Want to Know Where Greg Harrelson Gets His DATA? 

Click here:
https://www.colerealtyresource.com/landing/realestatesalessolutions/

 

 

We also discussed:

  • What makes someone a great advocate for your brand
  • Why we should embrace technology
  • How training can increase productivity and profit

 

As business owners, we should be focused on growing our company in the best ways possible. The people in our company are key to this, and by providing the tools and systems they need to reach their goals, we are in turn reaching our goals as leaders. Technology plays a big role in business today, and we need to embrace this in the real estate industry so that we can be more productive and serve our client base effectively.

 

Guest Bio-

Mike Miedler is the President and CEO of one of the smartest, boldest, fastest and largest real estate companies in the world: Century 21. Mike has more than 20 years of experience with the Century 21 brand in various roles. He is a leader in residential and commercial real estate franchising, brokerage, and management, and understands the important role the international markets play in expanding the brand and the system’s growth opportunities. Mike can connect you with local experts anywhere on the planet if you need insight, trends, excellent customer service, flawless execution or just simple advice for any type of real estate transaction. He specializes in people and helping them achieve their goals. https://www.century21.com

How to Survive When Net Commissions Drop

 

Real estate agents have been concerned about commission compression and the idea that they’ll eventually be replaced. If we stop listening and observe what is actually happening, we will see that the main concern lies in referral fees cutting into our net profit. Why don’t we have to worry about commission compression? What can we do to offset the shrinking effect referral fees have on our profit margins? How can a tool like Contact Junkie help us acquire our own leads?

In this episode, Greg Harrelson and Matt Johnson discuss ways in which we can increase our net profit margins when referrals are cutting into them.

 

 

While you’re accepting leads from someone else’s faucet, you must also create a faucet of your own. -Greg Harrelson

Takeaways + Tactics

  • Agents need to increase some of their outbound lead generation strategies to make sure that they’re adding deals to the mix and netting a higher margin.
  • By doing our own marketing and figuring out how others are generating leads and taking them in-house, we can start to generate leads at a lower cost than what we’re paying for them.
  • We have to stop taking for granted that our center of influence loves us so much that they are going to be loyal to us forever. We must continuously give value to them.

 

It’s not commission compression that’s digging into our net profit. It’s the increasing amount we pay for referrals, and the increasing proportion of transactions done with a referral fee. In order to increase our net profit, we need to generate more of our own leads and pay less for them than what we pay in referral fees. Increasing outbound lead generation strategies, doing our own marketing, and consistently giving value to our existing database are ways we can grow our personal lead database and make more profit.

How Building Relationships will Boost Your Business w/Sarah Lyons

For those new to the industry, the thought of building a sphere of influence is daunting. How do you start to build a network when the people you’re close to aren’t in a position to buy a home? Should you leave clients who aren’t immediately ready, and pursue those who can commit to a home now? On this episode, we talk with top-producing Century 21 agent in Fort Worth, Sarah Lyons, about the importance of building relationships.

 

Try to establish rapport and build relationships. You may not get something out of it immediately, but over time you’ll generate momentum. -Greg Harrelson

 

Takeaways + Tactics

  • Dedicate yourself to real estate and make it your plan A. While it’s great to have a backup plan, having a plan B can hold you back from achieving in real estate because you’ll lack the motivation.

  • Focus on your current clients rather than spending time trying to get new ones. Foster meaningful relationships instead of multiple, shallow ones.

  • If someone isn’t immediately interested in your listing, don’t be discouraged. You’re not just trying to sell one house— you’re picking up a new client to assist in finding their dream home.

At the start of the episode, we heard what initially motivated Sarah to pursue a career in real estate. Because she had to support her family, she jumped in head-first, and made sure real estate was the only industry she worked in. Without these distractions, Sarah was able to spend time building strong, meaningful relationships with clients that eventually took her right to NAR’s ‘30 under 30’ in 2017.

 

We also discussed:

  • That you have to find somebody who knows more than you to mentor you
  • Why you don’t need a large sphere of influence to start. You can approach sellers directly to build your sphere
  • Why you should have referral partners sponsor your client appreciation parties

 

The real estate industry is based on human needs and connections. Remember that your client requires someone with their best interests at heart, so make sure you’re building strong relationships with them. Even when clients don’t appear ready to work with you, continue to foster your connection with them. You may not get something out of it immediately, but over time those relationships gain momentum.

 

Guest Bio-

Sarah Lyons is the number 1 producing Century 21 agent in Fort Worth for 2015, 2016, 2017 & 2018. She specializes in Tarrant and Parker county. As a full-time Realtor with over 250 transactions closed, Sarah has the experience and knowledge to assist clients with their buying and selling needs. She also has great availability, thanks to her husband homeschooling their 2 sons.

Sarah believes that open communication is key, and never lets her clients feel ignored or avoided. She always encourages clients to use their easiest means of communication, by email or text.

Sarah achieved NAR's "30 UNDER 30" award winner class of 2017, and was the only DFW metroplex winner. She’s also the recipient of the C21 Relentless Agent Award 2018.

Find her on Facebook: https://www.facebook.com/SarahLyonsRealEstate/

Visit her website: www.sarahlyonsrealestate.com   

Contact Junkie: Optimizing Lead Conversion w/Abe Safa

Most agents don’t have a problem with acquiring leads. The difficulty lies in reaching those leads and being able to follow up enough to convert. Do we have bad leads, or do we need to reconsider the systems we use? How can bandwidth improve our conversion rate? How can software like Contact Junkie help us reach and follow up with our leads?

In this episode, Abe Safa shares on lead conversion issues in Real Estate and how automation software like Contact Junkie can help us optimize our business.

 

Our ROI is minimized because of our inability to make the right number of attempts per lead. -Abe Safa

 

Takeaways + Tactics

  • We spend time, money, and energy acquiring leads, but we don’t have the capacity to reach the majority of them. Increasing our bandwidth will improve our lead conversion ratio.

  • Think about whether your poor ROI is really due to the quality of the leads you bought. It is often because we haven’t adapted the systems and infrastructure we use to the new way of doing business.

  • People are busy, and we need to be able to make multiple attempts to reach them. Contact Junkie is an automated communication tool that increases response rates and allows us to have unlimited bandwidth.

 

In this episode, we discuss what motivated Abe Safa to start his software company Contact Junkie, and how this kind of automation acts as a communication tool to convert more leads for your business.  

We also discussed:

  • Issues with lead conversion in Real Estate
  • How increasing our bandwidth helps with lead conversion
  • Ways to increase our bandwidth

 

There is no shortage of leads in real estate, but there is a bottleneck when it comes to the ability to reach and follow up with these leads. People have become numb to notifications on their phones as a result of all the noise we are exposed to today, and this has increased the number of attempts it takes to reach a lead. We are left with a stack of leads that we have spent time, energy, and money acquiring that we cannot make a dent in. We need to increase our bandwidth so that we can make the attempts necessary to convert them into business.

 

Guest Bio-

Abe Safa is the founder of Contact Junkie, a software company that scales your business through technology. He also has his own Real Estate Agency, Abe Safa Real Estate, in Myrtle Beach and is the top Real Estate Agent in the area. Abe went from being a new licensee to having over 100 transactions per year, and has over three decades of business and negotiating experience. He graduated from Coastal Carolina in 1991 and has an honest and tenacious approach to business.

https://www.contactjunkie.com  

 

Why Simplicity is Key w/Karen Cooper

There's a tendency to believe that achieving success is complicated, but as most successful people will attest, simplicity is the best way forward. How can simple approaches help you reach tremendous heights in your business? Can you apply simple ideas to practical manifestation?

On this episode, I talk with industry veteran Karen Cooper to hear how she’s put surprisingly simple tactics into practice to great effect.

 

 

Takeaways + Tactics

  • Be consistent. If you want to grow your business you need to have a consistent approach, whether in communication with clients or systems used in-office.

  • Confidence is key. You can boost your confidence levels by making sure you’re constantly dealing with potential clients- even the non-serious clients. Take every interaction as a learning opportunity.

  • Commit to a new morning ritual over a 30-day period. This is how you’ll build new habits and instill self-confidence.

 

At the start of the episode, Karen explained the importance of investing in your business. That investment should come not only in the form of finance, but your time and energy. With that said, Karen also shared that the time you spend should allow you to build systems that mean you do less work as your business levels up.

We also discussed:

  • That the position you’re good at now will be easily replaced by someone else when you scale your business
  • How your time in-between transactions should be spent on creating systems
  • Why systems are the only way forward

 

For the most part, our inability to reach our goals lies in our mindsets. Whether that be because of a lack of self-confidence, or insufficient motivation, we have the power to prove ourselves correct. The great news is, we also have the power to prove ourselves correct when we tell ourselves we can do something. Stop telling yourself you can’t reach new heights or complicate the process. Take the journey to success back to basics and make good on new rituals.

 

Guest Bio-

Karen Cooper exemplifies what it means to be a real estate professional, and is one of the owners of the Platinum Group Real Estate team at Pearson Smith Realty. 

Karen is an Accredited Buyer Representative (ABR) and has her Virginia Real Estate Broker's License, which afforded her the opportunity to spend more than 2 years managing two offices and over 100 agents for a busy Loudoun brokerage.

Karen regularly volunteers in the classrooms for her 3 sons, and is a life member of Lovettsville Volunteer Fire & Rescue, having spent over 10 years as an EMT/Shock Trauma Technician and serving several years as the company's Rescue Chief and on County level committees.

Learn more at http://www.goplatinumgroup.com/karen-w-cooper/

Greg Coaches Top Agent: Lori Sorensen

Whether you’re newly licensed, an active entrepreneur, or even a seasoned agent looking to polish up your skills, everyone can benefit from outside advice. What has helped others take their businesses to the next level? How can you build and foster relationships with your clients that stand the test of time?

On this episode, I talk with an agent on my team, Lori Sorensen, about the changes she’s made in her approach. Those changes have brought her great results. In fact, last year alone, Lori had 61 transactions. 

 

 

Too often, agents just assume the buyer will see value in them. But we as agents have to actually paint the picture of what they can count on us for. -Greg Harrelson

 

Takeaways + Tactics

  • Think about the value you bring your clients, and share it with them. By doing this, you’re setting them at ease and letting them know you’re the right choice.

  • Stay in touch with all your past clients. Even if they’ve already bought a property, you want them to remember you when they inevitably sell.

  • Accept that discomfort is normal- so don’t give up too easily. If anything, being too comfortable is hindering you from taking your business to the next level.

 

We started this episode talking to Lori’s professional journey. Lori shared the culture shock she experienced when she moved from West Virginia to the Myrtle Beach market. She also discussed how she transitioned from having virtually no competition in West Virginia, and how that changed once she joined The Harrelson Group.

 

We also discussed:

  • How clients don’t automatically know what you’re good at.
  • Why you have to set yourself apart.
  • The need to engage with your team.

 

While real estate is an exciting industry, there is no shortage of agents. Because of this, you have to think about what makes you unique and aim to build relationships. Stop thinking in terms of transactions- that’s short term. Make connections with people and ensure they never forget the value you bring. People buy and sell property all the time: make sure you’re the only agent they consider to help them.

 

Guest Bio-

Lori Sorensen is an agent at Greg Harrelson’s The Harrelson Group. Two years after getting her license, Lori joined the Harrelson Group and has seen her star rise ever since. In 2018 alone- her third year at the company- Lori made 61 transactions. Although she prefers the buying process, Lori stays in contact with all her past clients and happily assists them in every area of real estate as their needs require.

To contact Lori, email her at: loribsorensen@gmail.com

 

If It’s Not FUN, I’m Not Doing It

It’s difficult to stay motivated when you’re not enjoying yourself. How can you approach business tasks differently to enjoy them more and get them done more effectively? Can you mix work with play? On this episode, I talk about why I don’t do things unless they’re fun, even in business.

 

I don't work, I play. I don't have a job, I have a hobby. -Greg Harrelson

 

Takeaways + Tactics

  • Fun is not a doing, it's a being. Decide to look at the world in a certain way.

  • Remember, every problem has a flip side of opportunity or breakthrough.

  • Build systems around you that allow you to stay in your lane.

 

Most people would agree that enjoying what you’re doing makes time move faster and your work ethic better. The best way to enjoy what you do, then, is by eliminating the things you don’t like. Delegate to your team- what you don’t love could be their greatest passion and something they’re skilled at. There’s no excuse for not getting things done when your tasks are someone else’s idea of fun.

How to Keep Pushing Forward Through the Challenges of Entrepreneurship w/Dan Grieb

 

How can you manage through the hard times of being a new entrepreneur? What kind of mental shift is necessary to succeed? 

On this episode, Dan Grieb shares how he managed to overcome the challenges he faced and achieve phenomenal success in real estate. 

 

 

I don’t want to make people think it’s all easy, but I do want to let them know it is possible. –Dan Grieb

 

Takeaways + Tactics

  • Acknowledge the importance of hard times. The most important lessons are usually learned when you’re in difficult positions.
  • Maintain discipline and hold yourself accountable.
  • To go from agent to entrepreneur, you need to make a mental shift. You’re no longer an agent, but a business owner.

 

At the start of the show, Dan shared his journey and rationale for joining the real estate industry. We learned that he jumped into the business with no back-up plan, and forced himself to meet his goals. While this was not an easy task, he ultimately emerged from turmoil to become his family’s first millionaire.

We also discussed:

  • The importance of transparency when sharing your journey with others
  • How people management is often overlooked, but vital to your company’s success
  • Why learning to lead is non-negotiable if you want to build a successful business

 

The process of moving from agent to entrepreneur can be something of a culture shock for those who thought they would have greater freedom. The reality is, owning a business comes with a whole new set of responsibilities. You may be free from the duties of being an agent, but now you need to start training yourself for a new role entirely- leader.

 

Guest Bio-

Dan Grieb is a residential real estate expert and CEO of the Home To Sell Team affiliated with the Keller Williams real estate organization. Dan is ranked in the top 1% of all Realtors in the country is a widely respected member of the Central Florida real estate community and in Keller Williams top 100 mega agent group led by Keller Williams founder Gary Keller.

Dan has built one of the most successful real estate teams in the country. He has strategically selected an elite team of real estate agents, transaction coordinators and operations staff know as The Dan Grieb Home to Sell Team who allow him to be indispensable to his clients. The Home To Sell Team specializes in residential real estate and new home sales, collaborates with national home builders, and has a proven track record of successfully selling over 2,200 homes in the last 10 years.

Guest Links:

www.dangrieb.newnha.com

https://www.linkedin.com/in/dan-grieb-4b401431/

You can reach Dan on Facebook at: https://www.facebook.com/daniel.grieb.501

You can also get in touch with him via email: dan@coachipc.com

There’s No Such Thing as Passive Income

For most, the idea of earning an income without working is exciting and aspirational. Is it realistic, however? Can you ever really make money while doing nothing at all? On this episode, we weigh in on what passivity actually means in a business and why the very notion of passivity needs to be redefined.

 

No one gets 'mailbox money' without putting in effort. -Greg Harrelson

 

Takeaways + Tactics

  • You need to put in a good deal of effort and energy to maintain a "passive income"

  • Consider where your worries come from, before presuming money will eliminate them

  • Respond to the events in your life, rather than reacting to them

 

The idea of passive income certainly allows us to dream about what we might do in our spare time. However, never forget about the fulfillment and satisfaction your work can give you. Carefully consider what you mean by passivity. The reality is, it’s incredibly rare to truly detach from any work, as your mind continues to contemplate every detail of your life.

Higher Conversion from Unique ISA/Agent Training w/Dale Archdekin

Lead conversion is a popular subject in real estate, but many agents are unsure of how to improve their conversion rate or interpret what the numbers might be saying. How can you boost your conversion? Are there steps you should be taking (or avoiding) to improve it?

On this episode, I talk with coach and founder of Smart Inside Sales, Dale Archdekin, to answer these questions and more.

 

 

People should either be a team or get on one. –Dale Archdekin

 

Takeaways + Tactics

  • Ask yourself if you’re having enough conversations with prospective clients. The volume of calls you make is crucial to your business.

  • Track what you’re doing. Record your phone calls and pay attention to what’s working— and what isn’t.

  • Ensure your staff is held accountable and that they do what they’re supposed to do. Your company’s culture plays a huge role in its success.

 

Want to Know Where Greg Harrelson Gets His DATA? 

Click here:
https://www.colerealtyresource.com/landing/realestatesalessolutions/

 

On this episode we discussed some of the ways agents can improve their conversion rate. Dale notes the mistakes he’s observed while training agents, and provides solutions to the issues he’s noticed.

We also shared on:

  • How to communicate, rather than recycle a script
  • Who you should avoid hiring when your business is young
  • How rephrasing your questions can help you attain better results

For people looking to start their own businesses or take on managerial positions, considering conversion rate is of the utmost importance. The best way to do this is by paying attention to each step you- or your team- take while in the process. Think about the questions you’re asking and the value you’re promising. 

Guest Bio-  

After working part-time in a call centre for credit card insurance during high school, Dale Archdekin has gone on to become a force to be reckoned with in the real estate industry. In addition to having 10 years experience as a real estate agent, Dale is the founder of coaching company, Smart Inside Sales. Dale is passionate about teaching salespeople (both in the real estate industry and otherwise) how to improve their conversion rates and see amazing success.  

To learn more or get in touch with Dale, head to:

https://www.facebook.com/dale.archdekin.7

https://www.zillow.com/profile/dale741/

 

And to learn more about Smart Inside Sales, check out:

https://www.smartinsidesales.com/