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9 contributions to Real Estate Mastermind
Thoughts or comments? 70% of agents sold five homes or less
The group found that 49% of agents sold only one or no homes in the previous year, while 70% sold five homes or less.
New comment Jan 6
[RARE Tips] Why Your Seller Wants to Fire You…
Let me make one thing perfectly clear. The Customer is NOT always right. Despite what you have heard over and over for most of your life, there are many times that the Customer is wrong. But here's the deal… The Customer's perception is always right. If you don't believe me, have a conversation about politics with someone who supports the "other party" and they will tell you why they are right. In the Real Estate business, the Customer is your Client. Your Client can be totally wrong, but if they believe they are right, their perception is their personal reality. And in their minds…they are right. What does this have to do with your real estate business? A lot. Because clients have a lot of conceived perceptions about real estate agents. They think things like: ✔️ Realtors make too much money. ✔️ Realtors do not work hard. ✔️ Realtors are lazy. ✔️ Realtors are a dime a dozen. ✔️ Realtors are not really necessary to sell a house. Your Clients (your Customers) are wrong. Hey...don't get upset with me. You chose this career path. I could write a book on this topic, and maybe someday I will, but for now, I am going to boil this down to the best way for you to reverse the inaccurate perceptions your Client has about you. If you are working with an active seller, the key to becoming a hero in their eyes is to, COMMUNICATE WITH THEM! Pick up the phone…send an email…send a text…stop by their house…whatever…just be sure to: COMMUNICATE WITH THEM! Because when you do not proactively communicate with your seller, do you know what they are thinking? They think you are doing nothing! This is especially true in today's slower market, where buyers seem to be hibernating, and there can be days or weeks between showings. Here is my success recipe for seller communication: ✅ When you sign a new listing, be present when the photographer shows up. Choreograph the event and be sure the best shots are taken. Explain to the photographer the best features of the home that you plan to highlight, and be sure to communicate with your seller about this!
New comment Sep '23
2 likes • Sep '23
Hi Dennis, Sorry for delay, I haven't been logged in here for a while. But the top portion of this post is perfectly said and honestly is one of the keys to our great success. If agents would try to offer solutions to their clients instead of trying to change their perspectives they would be meeting the needs of more clients isn't of trying to sell services that the client may not need or want. Even if your client is objectively wrong, their beliefs shape their own reality. And in their minds, they're absolutely right as you said, I have mentioned before, this is called "Cognitive Bias" and in my opinion should be taught by coaches and brokers and leaders more then techniques for lead generation and open houses. The fact remains that if you aware that you customers have different views and offer different services to meet those perceptions you will convert A LOT more leads. With an estimate 200,000 million leads and only an estimated 4.6 Million homes to sell this year. The industry doesn't needs more leads, we need to convert more leads and you do that by understand what they want and need to solve THEIR problem and not what the agents needs to Solve the agents problems. As mentioned, you just need to view the current world we live in and how everyone believe they are right!! regardless of facts! (especially in politics). There will be people who read this, maybe even many people who believe I am completely nuts and wrong despite being one of the top agents in the country the past few years and closing thousands of deals, but they will believe in their heart that this isn't a correct view and may of sold 5 listings, but that is the world we live in. EVERYONE believe they are right, just like I do :). The consumer has changed and if you haven't changed with them it will be a struggle period to move forward with great success in this industry. Sorry, I don't sugar coat well, I believe we are going to loose A LOT of agents in this industry in the next 2-3 years. Thanks for letting me post my different views here.
The Existential Threat to Real Estate As We Know It...
As brokers and agents, we often get tangled in the day-to-day grind of running our businesses. Between chasing listings, pacifying clients, and pushing paperwork, who has time to keep up with the latest industry gossip and legal squabbles? But this is my warning call - we can no longer afford to ignore what's brewing with the two multibillion-dollar lawsuits targeting MLS practices. The potential fallout threatens the future of real estate as we know it. I'm sounding the alarm today because every broker and agent needs to understand what's at stake. These cases have significant implications for our income, our value proposition, and our future viability in this business. The time is now to pay attention and prepare for impact. ➡️ A Refresher - What's This MLS Lawsuit All About? I know most of us glaze over at the first whiff of legal jargon, so let me break down the essential context. Two major class action lawsuits were filed a few years back targeting policies of the National Association of Realtors and MLS databases nationwide. In a nutshell, the suits allege that requiring home sellers to pay the commissions of buyers' agents to list on the MLS results in inflated fees and limits negotiation. By mandating this "cooperative compensation" to access the MLS, the plaintiffs argue sellers are forced to agree to pay exorbitant commissions. The two lawsuits - Sitzer v. NAR and Moehrl v. NAR - together represent millions of home sellers totaling nearly $50 billion in damages. The core objective of these suits is "decoupling" - breaking the link between seller-paid commissions for their listing agent and buyers' agents. If successful, buyers would pay their agent directly instead of the current model where seller commissions fund both sides. Since 87% of buyers utilize an agent (compared to just 5-20% in other countries), the plaintiffs contend this opaque MLS compensation system removes incentives to negotiate commissions and ultimately costs consumers billions in inflated fees.
New comment Aug '23
3 likes • Aug '23
Hi Dennis, thanks for writing this, honestly the consumer changing behavior started years ago, its honestly surprising to me that any of this is a surprise to agents. This industry was been needing a change for years. As mention previous, I build my entire model back in 2017 based on the NAR's Danger Report where most of this was predicted back in 2015. Separating the the buyers side would be new. Honestly, I have been leading the change for 5 years, but early adopters only get ridiculed. We live in a world where the top individual agent does 6,000+ deals per year, teams doing over 10,000+ deals but most agents I talk to have no idea that exist. They have no idea what is happening because they may only get their info from their brokerage or NAR which doesn't benefit by providing this kind of information. As mentioned before, agents are taught outdated sales tactics and NOBODY wants to be SOLD anymore. The truth is that people need to adapt to the changing world and most people don't and would rather complain about the environment changing. Confirmation Bias is a real thing, we have seen come put in recent years with politics and now carrying over to business and life. Confirmation bias is a common type of cognitive bias: the more we believe in something, the more likely we are to search for confirming evidence. People need to break through this Bias and look at whats happening in the real estate world, the data is public, people can searches on their own but if other agents are struggling in your office in the market, you shouldn't be taking advise from those people. As mentioned before and to maybe help one other person in this group. Learn everything you can on different strategies. I have operated under my Blue Ocean Strategy for 5+ years now. BLUE OCEAN STRATEGY is the simultaneous pursuit of differentiation and low cost to open up a new market space and create new demand. A lot of different ways to stand out in real estate to be honest, most agents don't even try, just keep doing what everyone else is doing. OK, off my soap box now.
0 likes • Aug '23
Saw this on linkedin. 100% agree, most agents will trying to offer value by offering the same things as almost every other agent, they try to find value from brokerages that have tens of thousands of agents all promoting the same brand and message , truth be told, the consumers don't care, they want to know how you can help them. Being different starts with you, not your brokerage or where you hang your license. This post I saw says it well.
How real estate experts avoid the Shark Tank...
Recent dialog with mastermind member @Steven Koleno has brought to life a strategic analogy that is incredibly relevant to our industry today. It's one I taught a seminar on a few years ago during the launch of the RARE Agent mission. I'm referring to the concept of the Red Ocean vs. Blue Ocean. In the increasingly competitive real estate market, understanding this concept can be a game-changer for those looking to stand out from the crowd. Follow along... 🔴 Imagine the real estate market as an ocean. The "Red Ocean" represents the current industry landscape, filled with fierce competition, where agents are constantly battling over the same territory and clients. This ocean is 'bloody' from the aggressive competition, where sharks devour the smaller fish, and standing out becomes increasingly difficult as everyone is offering similar services and fighting over the same deals. 🔵 However, there's another ocean—the "Blue Ocean." This is a space of uncontested market where competition is irrelevant because the game's rules are waiting to be set or, more importantly, are being defined by you. It’s the creation of new demand and the opportunity for high growth. In the Blue Ocean, you're not trying to outperform the competition; instead, you're making the competition irrelevant by differentiating your services and carving a niche for yourself. Obviously, I encourage everyone to swim in the Blue Ocean. But swimming in the Blue Ocean is not that easy. In the Blue Ocean, agents strive to be more than just agents. They aim to be expert solution providers offering valuable, distinct services that set them apart. This requires innovative thinking, creativity, and a commitment to understanding our client's needs. In the Blue Ocean, it’s not about doing more of the same or better than other agents; it’s about doing it differently. It’s about breaking away from the herd and creating a unique path to success. Can you survive as an agent in the Red Ocean? Yes, you can. But you will always be compared to other agents, be forced to lower your fees to remain competitive with agents who lead with lower fees, and constantly look over your shoulder to see who is trolling you...
New comment Jul '23
1 like • Jul '23
Hi Dennis, now you are talking!!!, my entire CURRENT business model is using the Blue Ocean Framework with a combination of Jay Abraham's The strategy of preeminence is both a strategic philosophy and a philosophical strategy this is the next level, where you are the ONLY Viable option in the marketplace. Going back to what I mentioned earlier that you need to make your offer SO good that people can't say no. John is correct, EXP Realty is that clear Blue Ocean for the AGENT focused brokerages, hard to argue against that, with a lot of copy cats trying to make a dent like LPT Realty. But, as example, I have a 100% CUSTOMER Centric Business, just like EXP Realty focus on AGENTS I focus ONLY on Consumers (implemented about 5 years ago) and the actual business model with consumer in the center about 4 years ago, its one of the reasons I have tried to work for both EXP Realty and LPT Realty to help enhance my business but they have restrictions that prevent from partnering with my type model. (That's another long story) as I might have had 150+ EXP agents reach out to me in the past 3 years and I tell them that I love the EXP model and then tell them I can't join and have to repeat the same message over and over. :). But, I have demonstrated over the past 5 years whats possible when you don't let the noise of this industry, the big brands and the the shining object slow you down. Just stick to the model, move 110% with INTENTION to make it happen (This is the secret and where most people fail) not hoping or high focus on goal settling and more ON DOING. Getting shit down! and AVOID the Shiny object. But this is were I will loose most agents and why I have avoided commenting on any public post. I am not in it to just make additional income, support my career etc, I am 100% focused on the changing the industry much like EXP Realty changed it for AGENTS, but I am driven to Change the Industry for the consumer in the same way Amazon did for retail but on a AGENT basis. Find a model that works that AGENTS can work within the disruption instead of being disrupted. So sounds strange but that's the INTENT. I 100% realize, that most agent can't do this, don't want to do this, and no interest in even trying to do this and think this is a stupid idea. I get that and that's why I always says I am not sure how I can help. Most agents just need to try to make it, try to survive, increase there income but there is power in INTENT to CHANGE and the PASSION OF FINDING WHAT YOU WHERE MEANT TO DO and Strategically Partner with EVERYONE that can help you get there.
1 like • Jul '23
here are images they say it better then my rambling, maybe next time I just post images :).
How the Best Agents are like crooked wall art...
Look around your house. I'm sure many of the walls have something hanging on them. Mirrors, paintings, artwork, diplomas, photographs, posters... In my house, every wall has something on it. And every single item is level. Perfectly level. If it's not level, it gets straightened. Do you know why? ▶ Because crooked wall art sticks out and gets noticed. I bet you can walk through your home without paying much attention to what is hanging on the walls, but if one framed piece of wall art is slightly crooked, it will catch your attention. In fact, over time, level-hanging wall art almost becomes invisible. You hardly notice it. It blends in. But a crooked picture stands out like an honest politician. Now...let's focus on you, your real estate brand, and your marketing efforts. Remember, the purpose of marketing is to catch people's attention. You want to stand out from the crowd. You want to be the crooked picture on the wall. Let's face it; a sea of Realtors serves your local area. And if your branding and marketing look like everyone else's, you will blend into the crowd. Most Realtors are on the same "level" in the consumer's mind. What can you do to stand out? What makes you different? What about you will catch the attention of people looking to buy or sell a home? It's your USP, or Unique Sales Proposition. Some agents call it their Unique Service Proposition. Your USP gets a potential client to pause and hear what you are saying. Otherwise, you are just another Realtor and another level picture hanging on the wall. It's time to get "crooked," be different from others and be noticed for the unique professional you are. To establish yourself as a unique and exceptional real estate service provider and turn superior 5-star service into your Unique Selling Proposition (USP), highlight the elements when meeting with potential clients. Discuss your distinctive services in detail. Whatever the focus of your USP, ensure you truly stand behind it and deliver on the promise.
New comment Jul '23
0 likes • Jul '23
Hi All, I am trying to add value were I can. Most post I am completely opposite in my views and not a good resource for enhancing old school marketing strategies. I like the comparison too above, but I am so different, I basically crooked art and hung backwards and sprayed with pink paint with a piece of gum in the middle.! SO DIFFERENT THAT THEY HAVE TO ASK WHAT THE HELL ARE YOU DOING! GET THEM INTERESTED AND TALKING. As mentioned before, I no longer believe that the secret to success in real estate is more marketing, better marketing , better scripts, more drip campaigns trying to just stay or think you better than the 1 million + other agents. Think of being a new agent with that mind set, that would be a struggle. Actually I have never thought that, that honestly seems like the hard way, its why we convert leads at 1% as an industry, I honestly spend my time working on the 99% that didn't convert and see what they really want as a true trusted advisor. Honestly, a lot of people say they are a true trusted advisor and misuse the term. I honestly believe you have to be Seth Godin's purple cow, or like Alex Hormozi's says, "make offers so good people feel stupid saying no". Once you master this your business will grow. But 95% of agents actually can't as the system isn't created to help be different, but fall in line with the other 1 million agents, follow the big brokers. Just my two cents. Not saying it to be different, I am actually different and operate just like the way I talk where most people just talk. Agents need to STOP Selling and Start Solving Problems!! Ok, I am getting off my soap box now. If you looking for the PURPLE COW in the real estate industry, you will find someone like me! 100% designed from day one to be purple about 5 years ago when I started working with the public. But, like I said before I tend to just piss off people then provide advise that people can grasp. I don't fit in with 1 million + of the agents out there. But hope this adds some value to someone.
1 like • Jul '23
WOW! I need to use that as a testimonial! Thanks for the kind words!
1-9 of 9
Steven Koleno
10points to level up
Steve’s primary focus is becoming a transformational leader for the residential real estate industry. A Disruptive Visionary.

Active 20h ago
Joined Jul 10, 2023
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