In an era where social media marketing has become so prolific, it’s becoming more and more difficult to cut through all the information we are exposed to. How do we even begin to know what we should be listening to? Have we made progress more difficult for ourselves by letting so many voices and tactics influence us? Alternatively, should we ignore all the information coming our way and stick with what we know?
On this episode, we discuss how to engage with the inundation of voices we encounter.
You need a clear plan of what you’re subscribing to, who you’re listening to, and whether it’s legitimate. If you don’t have that, all the other noise is going to influence you. – Brendon Payne
The prevalence of online access has created a constant cycle of new information, which leads to a lack of focus on getting the job done.
Although software can be helpful to real estate agents, outbound lead generation is something we can actively control.
Having a clear path in mind is crucial. Although new information is always helpful, it should be used to improve the ideas and systems you already have in place, not distract from them.
The influx of information afforded by social media marketing offers many opportunities to people in the real estate industry. However, it’s important to always bring what you’ve learned back to what’s already been working for you. Don’t allow the noise and sheer volume of voices online discourage you from what you already know.
One of the key skills we have to have as entrepreneurs is how to have a good return on our time. How do we know that having a team is the right move for us? What skill set makes a good real estate investor? Why are the skills we learn over the phone valuable for so many other opportunities? In this episode, we are joined by multiple business owner, real estate investor, team leader, and CEO, Mark Loeffler, to talk about making the choice between leading our team and building an investment business.
When you look at businesses on a grand scale, taking a real estate business and making it into something worth owning is difficult. -Mark Loeffler
Takeaways + Tactics
For most agents, the evolution is from successful solo agent, to team leader, and then investor. The team is the vehicle that creates the cash flow, leverage, and time to become an investor.
Most people who are doing well on a team are doing so because somebody is coaching them on personal problems.
If you see yourself as a professional, you’re confident in the dialogue and confident about the transaction— so getting on the phone to provide value isn’t an issue.
At the start of the show, Mark shares on his background and starting off as an investor, and how that influenced his decision to downsize his team. We also talked about how to know when you have the wrong people on your team, and the actions Mark took when he realized this. Towards, the end we talked about why leaders often have to help people through personal problems.
We also discussed:
The importance of tracking return on time
The skill set that makes Mark a good real estate investor
Why getting on a sales call isn’t an issue if you know the value you bring
For most successful solo agents, the decision between investing and leading a team isn’t a decision at all. We need cashflow to do the former, and that can only be provided by the latter. If you don’t need the cash flow from the team to allow you to do other things like investing, you don’t have the same need to start a team. To know what move we need to make, we must evaluate what we’re currently doing, what it’s costing us in terms of time, and what we’re getting out. Then we have to ask ourselves if the return on investment and time on that activity outweighs a return we could get elsewhere.
No matter how many new tactics and tools come up in the industry, the core fundamentals will never change. Why is this the same for both new agents and agents trying to level up? How can you avoid the stalemate? Why is consistency so critical? On this episode, Brendon Payne offers valuable insight on what to do when it feel like we’ve plateaued in business.
Breaking through as a top agent requires similar strategies as those for a new agent. -Greg Harrelson
Both top agents and those new to the industry should constantly refer to core fundamentals.
The core fundamentals are skills, contacts and systems. Contacts, in particular, are non-negotiable.
Once success is attained, the means of attainment should never be discounted.
In a world that privileges innovation and constant change, a desire to find new ways of doing business is to be expected. However, even while exploring new avenues, it’s important to stick with the core fundamentals that helped you attain success in the first place. Rather than searching for breakthroughs, entrepreneurs need to constantly revisit the basics that built them.
Many real estate teams are people-heavy, but light on leads— which means they can’t grow. What is the right way to go about growing our teams and taking on more agents? Why isn’t it enough to have name recognition in the market? How do we build something big from the beginning and put the work in on the front end to create our business?
On this episode, we are joined by the leader of Louisville, Kentucky’s #1 team and former news anchor, Bob Sokoler, to talk about building the right foundation and proving yourself to the market.
Leads are the genesis for growing the business. -Bob Sokoler
There’s a lot of burnout in the ISA role. Giving them a chance to move into the field or become an assistant is a way to mitigate that.
Go deep with a few people first rather than going wide with a lot of people. Let the availability of leads dictate whether to grow the team or not.
Start getting comfortable with video - just grab your iPhone and start recording. Marketing doesn't have to be complicated.
At the start of the show, Bob shared on his team setup and what it took to make the jump from 100 deals. He talked about the importance of being accountable to the lenders we work with and building a team of reliable people. Bob also talked about the importance of letting leads dictate if you should grow, as well as why he still had to build a brand even though he had a career in TV before real estate.
We also discussed;
How to teach skills that come easy to us but are new to other people
Why having name recognition isn’t enough
How to create engaging videos
The most successful people in any business don’t build small to begin with. They build it big from the beginning so that the foundation is there. This is harder work on the front end, but once it grows, it gets easier. We have to think about this when we’re building our brands, because having name recognition isn’t enough. We have to dig our heels in and prove ourselves. Resting on our brand name and not putting that work in will spell disaster in a shifting market where inventory is low because business will flock to those who have already built trust.
Bob Sokoler has bought and sold homes for more than 25 years in cities all over the United States. Known locally as a technology expert, Bob combines his love of real estate with technology and prides himself on being on call 24 hours a day. With his son Greg (a great agent and top technology expert), and a team of 20 agents, The Sokoler Medley Team has been number 1 in the Louisville area 7 years in a row. Bob's office, RE/MAX Properties East, is the highest producing office in Kentucky and among the top 10 offices in the United States. Go to https://www.weselllouisville.com/ for more information, and check out the team’s Youtube here louisvillehomestv.com.
Many team leaders fall into the trap of building a business filled with people who match their personalities, but with core values that don’t align. How do we make sure we’re pulling the right people into our world? How do we actually build culture in our team and not just talk about it? What are some of the challenges unique to working in a resort market? On this episode, Allison Simson talks about fostering a supportive team environment, building a team we’re happy with, and staying on top of our team culture.
A strong team culture is the attitudes and values of how people come together, and how they are flowing. -Allison Simson
Track the leading measures, not just the lagging measures.
In all relationships, it’s a lot easier to get along and have long-term relationships with people when you share the same core values.
Asking the right questions at the beginning gets people attuned to the meeting, and it sets an intention for the actions needed to improve the systems.
At the beginning of the show, Allison shared how she got started, how she inherited a team and what she learned from it. Next, we talked about how to keep an eye on the leading measures on a consistent basis so the team can actually get better. We also talked about the importance of aligned values and why Allison keeps an eye on the San Francisco market even though she’s in Colorado
We also discussed:
How Allison strengthens personality connection on her team
How Allison gets people attuned to the meeting and setting an intention at the beginning
What it takes to grow in a resort market
There is a massive difference between just talking about team culture and actually rolling up our sleeves and building it. As a result, it’s easy for culture to be on autopilot and to just chug along— and ultimately get ruined. We have to be purposeful and intentional about bringing our people together and implementing measures in our businesses that will strengthen values and personality connections. If we set those intentions, it will create an establishment and team we’re proud of.
Now that we’ve talked about why databases are becoming more important, and how we make sure the audience doesn’t filter us out, what are the 3 keys to building trust? How do we insert the tags into the conversations we have with prospects? Why should our communication be about them and not about us?
On this episode, we continue the conversation with Dobbin Buck about the importance of building a database and segmenting it with relevant triggers.
If we come from a place of deep servitude to our audience, the energy that emanates from us through all our content is going to come through as some level of authenticity. -Dobbin Buck
We have to use triggers that will stimulate the consumer emotionally, because that will get them to engage with us.
In our communication, we have to be thinking of them not what we’re going to get from them.
Authenticity is charisma, and charisma become entertainment.
The consumer is in control of the information they want to consume. They have the keys to the opt-in and they can tune us out if we’re not relevant to them. By sending them relevant, micro-content we’re creating a gravitational pull towards us. But a key piece is making sure we’re making the content about them and that we’re always authentic. For consumers not to block us out, they have to feel that we resonate with them and the essence of how we’re coming across has to be on point.
Guest Bio- Dobbin Buck is the co-owner and Senior VP of business development of GetUWired. To Dobbin, it's all about the GetUWired mission: to make web marketing a friendly and accessible business development resource for all business owners. GetUWired is a full-service Internet marketing firm housing all the skill sets business owners need to fulfill their online marketing dreams. Connect with Dobbin https://www.linkedin.com/in/dobbin-buck-3454a012/ or go to https://www.getuwired.com/ for more information.
Databases are going to become even more important as a result of the current trends going on in real estate. What are some of the shifts that are driving this new development? How do databases offer us a huge advantage to connect with people and build trust with them? Why is trust going to be more important over the next 5-10 years in turning a database into a community? On this episode, co-founder of GetUWired, Dobbin Buck, joins us to talk about why databases are the new community and how to connect with them.
With so much technology, people now want the freedom to disconnect. As consumers figure out how to disconnect from us, we’re only going to be left with those that trust us.
The conversation consumers want to have is at a very micro-level, specific to their localities and interests.
When we have a database and we’re connected to it, we’re able to build big data that goes deeper than any other data company.
Consumers are interested in micro-content— the kind of content that connects with their specific needs, location and interests. People are going to choose agents who make them feel like they are part of a tribe, and that comes from trust. For us to gain people’s trust, we have connect with them on a deeper level by using intimate data points to communicate. When we gain their trust, we gain their attention. If we’re not building or growing our databases, we could find ourselves locked out of deals.
Dobbin Buck is the co-owner and Senior VP of business development of GetUWired. To Dobbin, it's all about the GetUWired mission: to make web marketing a friendly and accessible business development resource for all business owners. GetUWired is a full-service Internet marketing firm housing all the skill sets business owners need to fulfill their online marketing dreams. Connect with Dobbin https://www.linkedin.com/in/dobbin-buck-3454a012/ or go to https://www.getuwired.com/ for more information.
After we become top producing agents and team owners, the next step is building wealth and a legacy. What thoughts and activities have to shift in order to take our businesses to this next level? Does our lead generation have to change as we start focusing on wealth-building? What can we do to make our lead generation time more valuable?
On this episode, Noah Ostroff shares how he’s built a business that sells 3,000 homes a year, and how he multiplied the impact of his prospecting.
My definition of wealth is having at least $1 more of passive income than personal expenses. -Noah Ostroff
Takeaways + Tactics
Anything you do with marketing has about 6-9 months before someone else copies it, and it becomes ineffective.
Use a segment of your prospecting time to go after absentee owners, because those are easy presentations you can do over the phone.
As we grow from producer to wealth builder, the lead generating process doesn’t change, but the nature of relationships we hunt for does.
At the start of the show, Noah shared his journey and how he strategically leveled up from one-to-one deals to one-to-many deals. He shared the outbound lead gen strategy he used. Next, we talked about the ways Noah had to shift his thinking and activities to become a wealth builder, as well as how to uncover that kinds of relationships that will have the most impact on your wealth.
We also discussed;
Why we have to constantly tweak our marketing
The power of getting the fundamentals right
The importance of focusing on your strengths
The basis of building wealth is the ability to increase our passive income earning ability, and a key of shifting from agent to entrepreneur is understanding that you have to level up in the deals you’re making. Noah started getting more out of his time and money, by prospecting for multiple deals where he used to prospect for one. He went from working with homeowners to home builders who have up to 10 listings at once, and he’s leveled up continuously since then. He Focused on the people making the most inventory being more efficient with his time, and instead of prospecting for listings, he started prospecting for people, talent and relationships.
Noah is the CEO at PhillyLiving. Since its formation, the PhillyLiving Team has both set and broken records time and time again, including “Most Number of Buyer Controlled Sales” “Most Total Units Sold”. and have earned some of the highest awards offered, including “International Presidential Elite Team”(2010), “International Presidential Premier Team” (2011, 2012, 2013). The team most recently earned the Society of Excellence Award, which is given to less than 50 agents in the entire country. Go to http://www.choosetoworkhere.com/ and https://www.linkedin.com/in/phillyliving/ for more information or email firstname.lastname@example.org.
Thanks to Facebook advertising, we can go straight to the masses without forking out a lot of money. What are some of the biggest mistakes we make with our ad targeting and response? How do we create a process that leads people from cold lead to a booked appointment using ads and opt-ins? What kind of ads actually generate quality leads?
On this episode, Facebook ad expert, former agent, and founder of Just Sell Homes, Andrew Fogliato shares what is— and isn’t— working in advertising and lead conversion today.
Provide as much value as possible in the ad, and overdeliver on your promise. -Andrew Fogliato
If you have an unsubscribe list, upload those names to Facebook and run ads to them.
Having a secondary offer on your "thank you" page can be highly effective, but it needs to be set up correctly.
ISAs make shouldn’t go too fast to the close. Their goal on first contact is to get answers to easy, open-ended, low pressure questions.
At the start of the show, Andrew shared how his agency got started and how he expanded his own real estate experience. Next, we talked about how the changes made to Facebook have affected targeting, and some of the mistakes people make with targeting. Andrew shared some tips and insights, including the power of a secondary offer and the best questions to ask a cold lead.
We also talked about:
Lead routing and why it’s such a big deal
The best offers for getting someone to book a call or appointment instantly
How to market and retarget to your unsubscribe list
The "Holy Grail" for agents is a Facebook ad and a system that effortlessly leads people down the process of going from a cold lead, to a motivated prospect, and a call or appointment. The secret to this is giving a lot of value from the beginning, and actually marketing on the consumer’s biggest pain points. We can boost this by adding secondary offers to our opt-in pages, and being strategic with the highest value assets we have in our listing packages.
Andrew is the founder of Just Sell Homes and a speaker and marketing expert. He founded his agency in 2015 with the intention of helping real estate professionals get real results from their online marketing efforts. Go to http://justsellhomes.com/ for more information.
Real estate gives us the capacity to make a lot of money, but so many agents find themselves broke. What are the money laws that govern how it flows in our lives? Is the answer to getting off the commission wheel as simple as making more money and getting more deals? What are the building blocks of a healthy money mindset and healthy money practices? On this episode, coach and real estate mogul, Krisstina Wise, goes deep on how to build wealth and shares strategies that will make money a positive tool in our lives.
Money is a mindset. If we have a negative connotation with money, it will have a negative ripple effect. -Krisstina Wise
One of the first ways we get off the hamster wheel is getting rid of the payments that are going to banks and learn to become our own bankers.
Two bad money mindsets: 1. Not feeling good enough, which leads to struggling to earn. 2. Earning a lot, but not feeling worthy which leads to self-sabotage.
Treat savings as an expense, because they represent a future expense.
At the start of the show, Krisstina shared her own journey and on how she overcame her financial issues and changed her mindset. She talked about why good health is the first wealth building activity we need to prioritize. We also talked about the two money mindsets and how they lead to difficulties. We also talk about how to become your own banker and limit your consumer debt.
We also discussed: - Why intermingling your business income with your home income is a big mistake - Why people are over leveraged in the wrong places and how to fix it - The different categories of expenses and payments
The truth about money is there are consequences to not following its laws. We don’t win the game by working hard and getting the next commission. We win the game by changing how we see money and how we use it. First, we have to make sure we have positive connotations of money. Then we have to be mindful of where our money actually goes. It’s important to put away money for tax first, and money for our future selves (savings). The true secret to building wealth and getting rich is how we manage money in your household account. Consumer debt and unnecessary payments sink us, while good financial practices build us up.
Krisstina Wise is a real estate mogul, Millionaire Coach, and creator of several multi-million dollar businesses including Goodlife Luxury, The Paperless Agent and most recently, WealthyWellthy. She is also an international speaker and the award-winning author of the Amazon Best-Seller Falling for Money, a romance novel for your bank account. Named one of the 100 Most Influential Real Estate Leaders in the country, she has been featured in USA TODAY, as well as by Apple, Contactually and Evernote for her creative leadership with emerging technologies. Go to https://www.goodlife.luxury/ and www.wealthywellthy.life. You can can also connect with her on LinkedIn.
Featuring masterminds with real estate leaders, coaches and influencers PLUS eye-opening strategy sessions with up-and-coming agents. Past guests include Hoss Pratt, Michael Reese, Rick Davidson, Danny Morel, Pat Hiban, Jeff Cohn and many more!