Level Up - From Agent to Entrepreneur

When Market Uncertainty Hits, This is How to Gain the Advantage w/Michael Maher

There’s no doubt that the market is shifting and that it’s sparking fear and uncertainty, but a national recession doesn’t have to become a personal recession for us.

The degree to which we’re impacted by market forces is entirely in our control. Our mindset is more likely to decrease our production than the market itself, so how do we set ourselves up for success?

In this episode, I’m joined by speaker, trainer, entrepreneur, founder of ReferCo, author of the 7 Levels of Communication, and host of The Referrals Podcast, Michael Maher. He talks about the most critical skill every agent needs in a shifting market. 

 

"You’ll get so much further in life with brilliant questions than you will with brilliant answers." -Michael Maher

 

Three Things You’ll Learn In This Episode  

 

• The truth about the current market
  Can we say the market is shifting, even though inventory is still tight in some markets?
  
  
• Why conversations are key to success in this market
  How do we use quality conversations to turn strangers into acquaintances and then advocates?
  
  
• How to convert at a high level
  What’s the best script for a shifting market rife with uncertainty? 

 

Guest Bio

Michael is a speaker, trainer, entrepreneur, founder of ReferCo and the author of the 7 Levels of Communication, and the host of The Referrals Podcast. He is one of the most in-demand speakers in the world. After his book “The Seven Levels of Communication: Go From Relationships to Referrals” (7L) exploded on the scene and became an instant international bestseller, his second book “Miracle Morning for Real Estate Agents” co-authored with Hal Elrod and subsequent speaking engagements have shown the world that building a business based on Love, Generosity, and Appreciation isn't fluff and stuff... it's simple, and far more productive than the traditional ways of doing business.

To listen to the podcast, head over to referralspodcast.com. Join the Generosity Generation group here, and book your tickets for Referral Mastery here.

Market Shift Rescue Kit

Market shifts lead to conversation changes that are essential to prepare for.

Unfortunately, many agents often do not know how to respond to or make the most of these changes to maintain their market share.

In this episode, sales coach Abe Safa sheds light on how to properly prepare for market changes and use them to your advantage.

 

"The more people you talk to, the more business you are going to do."- Abe Safa

 

Three Things You’ll Learn In This Episode

• How to take advantage of a changing market
  What steps should we take to get our shares out of a changing market? Is it okay to adapt to market trends, or is it better to stay the same?
  
  
• Preparing for opportunities to gain market share
  Can market changes be viewed as opportunities? What role does lead generation play in gaining market share?
  
  
• The importance of future-pacing our sellers and buyers?
  What is future pacing, and why is it important to practice it in this industry?

Is Your DataBank Open For Business?

There’s a big difference between a database and a databank - one is just a collection of names, and the other is the most valuable asset we own in our businesses.

Every real estate agent should be intentional about their databanks, especially in a tight-inventory, highly-competitive, shifting market, like the one we’re in right now.

How do we deposit into our databanks so we can extract more gold from it? Why will the agents with databanks thrive when the market shifts?

In this episode, we’re joined by special guest host, Abe Safa. He shares how to be more deliberate with our databanks, whether we have 50 or 5000 people.

 

"If all you have are names and numbers, that’s not a databank, that’s just a list." -Abe Safa  

 

 

Three Things You’ll Learn In This Episode  

• How to make our conversations easier
  How do we become such a solid resource for our datanks so that we’re top of mind in the confusion and uncertainty of a shifting market?
  
  
• Why we can’t take the gas off our database-building activities
  Building a databank is an ongoing process, why is it so critical to start early and constantly replenish it?
  
  
• The first step to getting more value out of our databanks
  Why is it so important to segment and filter our databanks, and how do we actually do it?

From Team Leader to Brokerage Owner: Jeff Cohn On the Evolution of His Business

The best leaders in real estate create a world so big that their people can build their own empires inside it. Whether it’s building a brokerage or going after ancillary businesses, thinking like entrepreneurs retains top talent, improves the service we give the consumer, and ultimately, it makes our organizations more valuable.

Why did Jeff Cohn decide to switch from running a team to owning a brokerage? What ancillary business can we add to our businesses for passive income?

In this episode, the owner of KWElite and host of The Team Building podcast returns to talk about the evolution of his business.

 

"If the businesses we’re in aren’t generating more income in less time, with less energy, we should look for a different business to run or change the way we’re doing business." -Jeff Cohn

 

Three Things You’ll Learn In This Episode  

 

• Why Jeff Cohn chose to build a brokerage
  Teams are great for getting newer agents but what happens when that agent wants to build their own big business?
  
  
• The untapped potential of joint ventures in real estate
  There are 3 ways to win monetarily with ancillary businesses, but what’s the most valuable and passive one?
  
  
• The ancillary business with a $12 million potential
  Why is insurance such a perfect-fit ancillary business for a real estate organization?

 

Guest Bio

Jeff Cohn is a nationally renowned speaker, host of The Team Building Podcast, and owner of KWElite, a tech-powered Keller Williams market center in Omaha, NE. As founder of Omaha’s Elite Real Estate Group, now kwELITE, he led his team from 70 to 700 transactions in 6 years, and was awarded the #1 team in unit sales in the world at Berkshire Hathaway HomeServices in 2019. Since beginning his real estate career in 2006, Jeff’s team has closed over 5,000 sales, totaling over $1 billion in volume. Devoted to ongoing learning throughout his career, Jeff has forged strategic relationships with industry leaders across the country, listened to thousands of hours of podcasts and read hundreds of books, providing him with a vast knowledge base. Jeff is considered a foremost real estate expert due to these efforts, and as founder and CEO of Elite Real Estate Systems, a coaching company, offers the annual Team Building Summit, monthly workshops, and weekly coaching calls. As a credit to his extensive know-how, Jeff speaks frequently at various events throughout the US and Canada.

To get your tickets to The Team Building Summit, go to https://www.theteambuildingsummit.com/ and use code PODCAST to get $100 off your ticket.

5 Steps To Level Up Your Confidence

Real estate is a game of confidence where our success is a direct result of the quality of conversations we’re having with consumers. We have to feel good about the conversations we’re having to convert at the highest level.

What steps can we take to build up our confidence so we can expertly control ANY conversation?

In this episode, we’re going to share 5 things we need to be doing to continuously up our game and increase our confidence as salespeople.

 

"We know that confidence is the key to finding high level success in any sales position, but it’s critical in real estate." -Brendon Payne

 

Three Things You’ll Learn In This Episode  

 

• How to succeed in an extreme seller’s market
  In a transitioning market, the conversations we’re having change constantly. How do we make sure we’re confident regardless of the direction the dialogue takes?
  
  
• Leading market indicators vs. lagging market indicators
  We can’t have confidence without knowledge. What metrics do we need to stay on top of to stay clued in?
  
  
• Why skills development is an ongoing process
  How do we make sure we’re improving our ability to have effective conversations, and create opportunities for improvement?

Protecting Profits While Increasing Production

In real estate, a little taste of financial success often leads to an immediate increase in lifestyle, which can be detrimental to our businesses. This occurrence is so common, it’s become an industry cliche.

Right now many agents are reaping the benefits of a hot market, but before we go buying that brand new car, we have to practice caution.

How do we protect our earnings and create real long-term financial stability? In this episode, we talk about how to protect your profits in any market condition.

 

"We need to earn like it’s a hot market, and spend like it’s a cold market." -Greg Harrelson

 

Three Things You’ll Learn In This Episode  

 

• The link between money and image
  What drives agents to increase their lifestyles after getting a little taste of success?
  
  
• Why we shouldn’t spend our hard-earned money too quickly
  If we’re having a great year business-wise, how long do we wait before increasing our lifestyles?
  
  
• How to avoid a feast-and-famine cycle
  Since we earn our money on a lagging timeline, how do we ensure our long-term stability?

The Language of Sales: Using NLP to Communicate, Connect and Close More Deals w/John Ryan and Abe Safa

For real estate professionals, effective communication is the key to excelling in our businesses. Building up this muscle allows us to become the kind of salespeople that inspire people, instead of the salespeople that try to force people to take action.

We’ve heard about neuro-linguistic programming (NLP), and why mastering it makes us stronger in sales, but how do we actually use this skill practically?

In this episode, we’re joined by Abe Safa and Certified NLP Master Trainer, John Ryan. He shares NLP techniques we can implement to get better results from our client conversations.

 

"Resistant clients don’t exist. There’s only a lack of rapport and ineffective communication." -John Ryan

 

Three Things You’ll Learn In This Episode  

• Force vs. power in sales
  Can sales ever be a process of inspiring clients or does it always have to be forceful and manipulative?
  
  
• How to handle any objection that comes our way
  What’s the difference between conscious competence and mastery when it comes to scripts?
  
  
• Overcoming our fear and anxiety around sales
  What are the 3 things that determine our results in business and sales? 

 

Guest Bio 

John Ryan is a Coach, Consultant, Speaker and Certified Master Trainer of NLP. Over the past 20+ years, he’s had the privilege of logging over 1,500 days leading Seminars and countless hours providing Executive Coaching and Consulting. John’s focus is on Leadership, Communication, Change and Neuro Linguistics for Leaders, Managers, Business Owners, Sales Professionals, Consultants and Coaches.

To register for John’s 8-week course The Language of Sales: Using NLP to Communicate, Connect and Close More Deals, go to http://nlpcloser.com and use code anchor to get $100 off.

The Listing Agent Mindset

The prevailing sentiment among agents is that this market is too difficult to get listings. There isn’t enough inventory, motivated sellers are too hard to find, and there aren’t a lot of opportunities, but what if it’s all just a mindset?

A successful listing agent goes out into the market with the belief that there’s a ton of opportunity, and they align themselves with it. What kind of mindset does an agent need to be in if they want to be effective at taking listings?

In this episode, we talk about how successful listing agents think, and why thinking there’s no opportunity puts us in a precarious position.

 

"Regardless of what the market is, you have to adopt the belief that every owner wants to sell." -Brendon Payne

 

Three Things You’ll Learn In This Episode  

• The truth about the “low inventory” market
  What are some of the indicators that there is a lot more listing inventory than we think?
  
  
• How successful agents continue to generate transactions
  Can we have the motivation to go out there and generate business if we believe there are no opportunities?
  
  
• Why there are no bad conversations with sellers right now
  How do we approach conversations with sellers in this market?

Eliminate Call Reluctance: The Top Producer Secret Sauce For Generating

When we think about making calls, most agents tend to think in terms of how to get a resounding ‘yes’, but sometimes, a ‘no’ can be more profitable. 

 

The truth is, in real estate, a ‘no’ is seldom a final answer, and ‘no’ typically means not right now. 

 

So, what can we do when we’re faced with a ‘not right now’? Is there a way to nurture a lead over the long term without coming across as sleazy salespeople?

 

In this episode, we’re talking how to monetize a rejection and build a phenomenal pipeline for the future. 

 

While we’re looking for business today, a lot of agents are missing out on opportunities for FUTURE business by taking a ‘no’ at face value. -Greg Harrelson

 

Three Things You’ll Learn In This Episode  

 

• How to stay in contact with a lead, no matter what their initial response is
  
  Is there a way to keep leads in our database, even if they won’t be interested in a transaction for the foreseeable future? 

 

• Why there’s no such thing as a ‘bad’ lead
  
  How can we completely change our mindsets regarding unresponsive or presently uninterested leads? 

 

• The importance of regular communication
  
  How can we stay top of mind with everyone we reach out to, so even if they’re not looking to sell now, the moment they are, we’ll be their first port of call?

HOT Market, HOT Buttons! Learn How To ”Wow” Your Seller Clients

Whether we’re in a hot market or a down market, whenever things seem to be out of balance, it’s our job as agents to guide our clients through the process. 

 

Managing our clients’ expectations (or, more importantly, their emotions) is the key to keeping any transaction running smoothly. 

 

The question is, how do we do that? Is it really as simple as having a clear line of communication? 

 

In this clip, we're introducing the concept of 'future pacing' and doubling down on the importance of being up front from the get go.

 

Be open with sellers about the challenges and curveballs that might be thrown their way in a transaction. It's called future pacing. -Greg Harrelson

 

Three Things You’ll Learn In This Episode  

 

• When to start the process of future pacing
  
  Is there a right time to tell our clients what to expect from their transaction? 

 

• Why total transparency positions us as experts
  
  Could outlining all the potential challenges ahead of time be the thing that sets us apart as an industry guide?  

 

• How to prepare our clients for remorse
  
  No one wants to factor in the potential for remorse in a transaction, but is there anything we can do to prevent it?