If you want to become one of the top agents in your local area, you are going to have to face some difficult times and work through a lot of challenges. You will lose a few friends, make a few enemies, and be trolled by a few haters. I wish that wasn’t true, but for every person who wants you to succeed, there are others who want you to fail. ✅ If you really want to want to survive, and thrive, you must be committed to the process. Being committed to developing systems that would fuel growth pulled me through every single negative challenge I faced in the real estate business. And that same commitment ultimately led me to every success I’ve ever experienced. Being committed to your goals will require you to make some difficult choices. A good friend and mentor of mine once said to me, “If you want to build a big business, you’ll eventually need to choose between the pain of discipline or the pain of regret. The pain of discipline means you will choose to: 1️⃣ Call prospects even when you don’t feel like it. 2️⃣ Practice sales dialog over and over until it sounds natural. 3️⃣ Skip the baseball game and hold an open house. 4️⃣ Track your marketing results and make difficult decisions. 5️⃣ Stop doing things that are not growing your business. The pain of regret is the disappointment you feel when you realize your lack of commitment held you back from becoming one of the top agents in your area. If you want it bad enough, nothing will hold you back from rising to the top of your niche. As long as you stay committed.
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!
Let's talk about hot water. Water that is 211 degrees. Do you know what happens when you add one more degree to 211-degree water? 🔥 IT BOILS 🔥 211-degree water is hot. 212-degree water boils. And boiling water produces steam. 🚂 And steam can power a train. That's the power of 1 degree. One degree is the difference between having hot water... and having the energy required to power a locomotive. This simple metaphor pushes me to give 110% to everything I do. And it reminds me how minor details can make huge changes to our results. Can you push yourself one more degree? Can you find that one extra degree of effort that will change your business in the same dramatic way? It's your business. And you are responsible for your results. So if it's going to be, it's up to you. 🔥 And it's time to turn up the heat 🔥 Beginning today, commit 110% of your effort in everything you do. No more trying. No more "let's see what happens" approaches. No more giving up when things get a little rough. Instead, approach every single task with relentless energy. Your commitment to 212-degree, steaming hot action will generate the necessary power to fuel your business to exponential results.
One of the biggest mistakes new real estate agents make is comparing themselves to agents who have been in the business for years…or even decades. Over the years, I’ve had many new agents approach me and say: “Hey, I’m thinking about getting into the real estate business so I can do what you do. Will you help me get started?” Of course, I will. That’s what I have done for most of my career. But I’m not going to mislead someone who is just starting to think about getting into the business to believe they will do anything remotely close to what I do today any time soon. There are coaches and trainers out there who will take your money and promise to teach you how to generate more leads every month than there are sales in the entire MLS. But I’m not one of those guys. New agents get their licenses and see the business my wife and I have built over the last 23 years and they want it RIGHT NOW. Sorry...but that’s not going to happen. It's going to take time. It does not have to take 23 years, but it will take some time. I can cut your learning curve in half by helping you avoid the many mistakes I made. And I can slash it in half again by holding you accountable to do the things that matter every single day. But you have to be willing to listen, follow the path I recommend, and do the work. I love the new agents who call me and offer to buy me a cup of coffee so they can “pick my brain.” They usually want to shortcut the process. They want hacks and tricks... When we meet, I share how I started in the business. I worked for a new home builder. I was given a desk, a phone, and a list of names and phone numbers of people who had visited the builder's model home showroom over the past 1-2 years but did not buy a home. It was my job to call them and beg them to come and take another look at our model homes. And should any of them return to the showroom and buy a home, I would split the commission with one of the seasoned agents who wrote the contract. For the first five months, I worked six days a week, nine hours a day, and split one commission that paid me $2,700.
Some of the best business advice I ever heard came from marketing expert Dan Kennedy, who said: “The last thing you want to be compared to is another Realtor. You want to create a service category where you are the only person in that category. Create a category of one.” Here are a few examples: ▶ Your neighborhood authority in luxury homes and off-market estates. ▶ Specializing in fine golf communities for low-handicap players. ▶ Expert knowledge about age-qualified communities. When you market yourself in a "category of one," you will stand out from your competition and not be viewed as "just another Realtor." Don't copy what everyone else is doing. Create a niche that can't be copied. Create a category of one where you are the only one in it. When you do this, you will stand out from the crowd of agents who all claim to be Top Producers with 5-star Zillow profiles. Stop telling the same story every other agent tells. Create your own story. Create a category of one, market your unique advantages over your competition, and you will quickly rise to the top. Create a unique category of one and own it. Can you create a category of one? What will it be? Share in the comments below...
Occasionally I’ll say to someone, “I’ve been in the real estate business for over 20 years, and I learn something new every day.” I’m not just making conversation…I am being totally serious. The business changes, the technology changes, the contract changes, the websites we use will change, and on and on and on… and if you get to the point where you start to think you know it all and no longer need to study the real estate business, trust me…you have peaked. So how long does it take to get to the point where real estate fluency kicks in? How long does it take for an agent to consider themselves experienced, thoroughly knowledgeable, and worthy of being referred to as an expert? ✅ TWENTY-FIVE TRANSACTIONS. Now, don't miss the point...no one is keeping score, and you won't receive a gold pin on your 25th closing. But twenty-five transactions represent experience. And experience can only come from doing transactions. Experience doesn't come from reading books, attending office meetings, or reading Facebook messages about real estate. Experience comes from doing transactions. Doing transactions will put you into positions you can never imagine until you are there. You'll never understand the feeling of making a mistake until you make one. And you'll never really grasp the feeling of working your way through problems until you work through problems firsthand. 25 transactions is not a measurement of success. 25 transactions mean that you've weathered many storms and survived the pressures and frustrations. If you haven't completed 25 transactions, that's OK. Stick around, and you will.
FACT: You must create a valuable experience before expecting a client to refer you to someone. You must give them a reason to refer you. You must do an outstanding job for them, go above and beyond the call of duty, and provide them with an experience they'll never forget. An experience so powerful that they will have no choice other than to refer you to people who ask if they know a good real estate agent. A valuable client experience has three distinct parts to it: 1️⃣ Intelligent Consulting. That means asking meaningful questions and providing detailed, strategic advice to make a strong impression on your clients. In proving your expertise, you must remove all doubt about your understanding of the real estate business and the strategies required to help your clients reach their goals. Make a lasting impression that establishes your credibility. 2️⃣ Skillful Negotiating. That means treating every penny of your client's money like it's yours. You are entrusted with a fiduciary responsibility, from negotiating every detail of the purchasing agreement to advising your client through the process of completing necessary repairs. Align your business with the best service providers. Scrutinize the closing statement for any potential errors or discrepancies. When you find an error in your client's favor, you prove you are on their side all the way until the end of the transaction. (note: estimated settlement statements include errors over 50% of the time). 3️⃣ An Obsession with Transactional Details. That means you review every document to ensure every 'i' is dotted and every 't' crossed. As your clients trusted advisor, you are responsible to help them make sense of everything. And you can't do that until you understand everything yourself first. Doing those three things exceedingly well will illustrate how you have your client's back and will create a valuable experience for them to remember. Most importantly, your parental-like care will inspire them to refer you to their friends, family, neighbors, and co-workers to provide the same excellent experience for them.
You have to work hard to build a thriving real estate business. Success is not a random reward. You will need a commanding knowledge of your local inventory and its daily fluctuations. You do that by monitoring the daily MLS "hot sheet" for new listings, pending sales, closings, etc. In addition, you need technical skills, people skills, negotiating skills, contract writing skills, partnership skills, strong vendor relationships, control over your mindset, and a variety of other talents that I refer to as "street smarts". You would think that any agent who assembled such a war-room of readiness would be nearly invincible, yet there is one simple thing that is powerful enough to topple every top producer from the podium. It's the silent attacker of your positive momentum and an absolute enemy to your success. What am I referring to? ▶ Distractions! Distractions will pull you away from your plan and steal your success. Staying focused on your business, your marketing, your lead generation, your lead conversions, your clients, your transactions, and your closings are the name of the game. You must have a 100% (near-obsessive) focus on your vision and ANYTHING that distracts you from that vision is an enemy to your success. The biggest distractions are: ▶ Listening to too many people. ▶ Mistaking being busy for being productive. ▶ Social Media drama. ▶ Bright shiny objects. ▶ Office gossip. ▶ Saying “yes” to everything. These are not the only distractions. There are many more like Netflix, toxic relationships, striving for perfection, negative working environments, and being disorganized. All of these things suck time out of your day and give you nothing in return. You must stay focused... Every. Single. Day. So how do you slay the distraction dragon? ▶ Have a plan and stick to it. ▶ Stop multitasking. ▶ Set specific goals for each day. ▶ Set clear boundaries on your calendar. ▶ Be accountable to someone you trust. Set yourself up for success by adopting proactive strategies to block distractions before they happen and work with a greater sense of intention in everything you do.
Once upon a time, I bought some internet leads. I didn’t do it for long, but I did it. I did it early in my career because I needed clients to work with immediately, and that was my best option at the time. Should you buy leads? That's totally up to you. If your lead generation pipelines are not generating opportunities and your mortgage payment is due, then do what you need to do. Hopefully, you have some cash reserves set aside for lean times. In simple terms, buying leads is the process of spending hundreds of dollars in the hopes you can make thousands of dollars. Too bad that easy math is not guaranteed. I see many agents spend hundreds (even thousands) of dollars on internet leads and never convert a single one of them into a closed transaction that produces a commission check. They always blame it on the leads. They say things like, "those leads were terrible", "they never answer the phone", "they don't even reply to text messages". Have no fear, buying internet leads will make your phone ring. But the process of getting those leads to respond and ultimately work with you takes a broad set of skills. Before you reach for your credit card and sign up for a lead purchase program, be sure you have these five skill areas mastered: 1️⃣ A GREAT ONLINE PROFILE. Remember, these leads are coming to you because they are actively searching for homes ONLINE. That means they will search for YOU online to validate your presence in the market after you contact them. You'd better be findable. At a minimum, you should have your own website, a Facebook business page, and a Google profile with many 5-star client reviews. The more places you exist online, the better. 2️⃣ IMMEDIATE AVAILABILITY. Online leads are online when they inquire, so you need to jump on them immediately. Strike while the iron is hot — before someone else does. They don't know you in person, and the longer you wait to reply, the more of your competitors they will see online as they continue looking at homes. If you are not available to answer and respond immediately, you might as well flush your money down the toilet. When it comes to responding to online lead inquiries, second place is the first loser.
I have never claimed that my way is the best way or even necessarily the smartest way of building a real estate business. That's because so much depends on your goals, your work ethic, and most importantly...not quitting before you see results. What I have claimed is that my ways allowed me to build a 7-figure real estate business over the last 20 years that today, runs like a well-oiled machine spitting out fresh leads from a database full of happy clients and their referrals. Here's the good news, and not-so-good news about that: GOOD NEWS: 🚩 It does not need to take 20 years to build a 7-figure business. 🚩 It can be done in a lot less time. 🚩 Much faster than I did. NOT-SO-GOOD NEWS: 🚩 You will need to do the work before you see results. Every post I add to this Mastermind community includes business strategies, tactics, and tips. Many of them include real-life stories to help me get my point across. ✅ And most days...I nudge you to take action. Because this Mastermind Community will not change your business one bit if you are not committed to taking action and doing the work for the strategies we discuss. Reading a post without taking action is just...reading a post. Gandhi was famous for saying, "Action Expresses Priorities." One of my daily email subscribers, Louis T. recently wrote this: "Thanks, Dennis. I've been receiving your emails for about seven months. I'm a 10-year veteran of the real estate business and am doing fairly well in the Dallas area (closed 9 million last year). I've been through dozens of training and rah-rah sessions over the years, and I just want to tell you that your training emails are a breath of fresh air. They are all meat and no fluff or B.S. Reading them makes me feel challenged and driven to take action when I read them. -Louis" That's what I'm talking about. Taking action. Because your actions will express what is most important to you. Your actions will express your priorities. Keep moving forward.
As the real estate industry evolves and adopts new technologies, it's vital to stay ahead of the curve. Today, that curve revolves around Artificial Intelligence. Are robots going to be the Real Estate Agents of tomorrow? I doubt it. But the agent who is competing against you for the next big listing in your neighborhood will likely know the concepts behind AI and how to put those concepts to work to be more efficient, more productive, sell a home faster, and sell it for a higher price. AI has already made significant inroads in areas like marketing and data analysis, and its potential impact on the role of agents deserves your undivided attention. I want to share how AI will influence our industry and potentially threaten your job. From predictive analytics to virtual agents, these developments will have far-reaching consequences for our profession. Here are the ways that I see AI changing our industry: ➡️ Predictive Analytics: AI-powered tools can analyze large amounts of data to provide insights into market trends, property values, and buyer behavior, allowing agents to make more informed decisions about where they spend their time and how to do their job more efficiently. ➡️ Virtual Property Tours: AI technology can create realistic 3D tours of properties that potential buyers can access remotely, reducing the need for in-person tours. Computer-generated audio narration can be instantly translated into any language, eliminating the agent's role as a multilingual tour guide. ➡️ Automated Valuation Models: AI algorithms have improved dramatically and will continue to evolve toward their goal of perfection. Not only will they get better at analyzing data to determine the value range of a property, but they will also do a better job than many agents at explaining to potential sellers the relationship between "competitive pricing" and "days on market", reducing the need for agents to research and prepare home valuations themselves. ➡️ Chatbots and Virtual Assistants: AI-powered chatbots and virtual assistants can provide detailed customer service and answer any real estate-related questions, reducing the reliance on human agents who are often too busy to answer their phones.
Do people like you? I'm sure you like you...but do other people like you? People often pick an agent because they like them. They like how they dress. They like how they talk. They like how they smile. They like how polite they are. They like the car they drive. They like that their kids all go to the same school. They like that they are from Chicago...or Seattle...or...Cleveland... on and on... Now I know what you are thinking... "Dennis, I thought RARE Agents were skilled professionals with local area knowledge, strong negotiation skills, contract knowledge, great connections with photographers, home inspectors, home stagers, and handymen.....you said that stuff was important!" Yes, all of that is important. But that may not be why people pick you as their agent. In fact...if you are not likable, they may not pick you at all...even though you have all the right "business" traits. People like to be with people they like. So how do you win that battle? It's actually pretty easy. Become more likable! Let's be honest about something. Real Estate is not the same as being a doctor or a lawyer. Getting a real estate license does not take 4, 6, or 8 years of education. In Arizona, you can become legally licensed to sell Real Estate (including pre-licensing hours and final exams) in about a month. Plus, you can take all of your classes online! It's not rocket science. And you will pass the test with a score of 75%. Magna-cum-mediocre is all it takes to list a home as long as you are likable. Ok, I'm exaggerating that a bit to make a point but in the eyes of many consumers, the difference between most agents is negligible. So if you've got the business knowledge down, why not be likable and seal the deal? Here are my top 5 ways to be a more likable agent: 1️⃣ SMILE - A simple, genuine smile will improve the mood of everyone around you. Smiling is easy when you are happy to see someone, happy to show them the new listing that came on the market today, or happy to explain to them how you can help them sell their home and reach their family goals.
People often ask me what the #1 reason is that so many agents fail in the real estate business. Here is my answer in a single sentence... "The reason so many agents fail is that they never really get started." 🟢 They never start studying general sales skills. 🟢 They never start studying basic human psychology. 🟢 They never start studying how supply and demand impact pricing. 🟢 They never start studying effective communication. 🟢 They never start studying the art of negotiation. 🟢 They never start using a CRM. 🟢 They never start building an email list. 🟢 They never start using email drip campaigns. 🟢 They never start building a following on social media. 🟢 They never start creating videos. 🟢 They never start advertising their personal brand. 🟢 They never start making phone calls to their sphere. 🟢 They never start hosting open house events. 🟢 They never start listening to audiobooks and podcasts. 🟢 They never start studying direct marketing principles. 🟢 They never start working with a coach. They never start doing any of those things. And therefore… they never start to succeed. And they are surprised and frustrated when they fail to experience the rewards of success... And so here is today's tip... "You will NEVER experience success until you get started." So get started now!
Have you ever experienced a time in your business where every lead you are working with is six months away from buying or selling, or even worse, one or two years from doing anything? Have you ever felt like your lead generation pipelines have suddenly dried up and stopped producing quality names? Unfortunately, these two things always seem to happen when the bank balance is at its lowest. Both new and seasoned agents can find themselves in this situation from time to time. It happens to the best of us. Where do you go from here? In my experience, the absolute quickest way to identify new leads and put yourself in a position to make transactions happen is to get out of the house and hold an open house event, every day. Yes, every day. If every lead you have in your CRM has identified themselves as a buyer or seller sometime in the future and your pipelines are not producing, you need to get out of the house. Now I know what you're saying, "I don't have any listings and the listing that are on the market sell super fast, so how can I hold an open house?" You don't have to have an active listing to hold an open house. Other agents in your office have listings. You either need to approach them or approach your managing broker for clarification of your office policy. Every real estate office has a policy regarding agents holding open houses for other agents in the office. There are even brokers who have policies for agents holding open houses for properties listed outside of their brokerage. In other words, there are opportunities out there if you're willing to look for them. But let me give you a tip. You don't want to just hold any house open. You want to hold open a house in a high traffic, high demand area and is priced at a price point that will attract multiple walk-in buyers. For example, you want to identify a house that is one or two turns off of a busy street (makes it easy to find), in a desirable neighborhood (clean, well maintained, easy parking), and priced in the hottest price point (or slightly above) for your market.
Your market knowledge will set you apart from other agents who work in your target area. And there is no better way to deepen your market knowledge than to walk through as many houses as possible because nothing will give you a better perspective on features, conditions, and pricing than a personal tour. ✅ Walking through houses will develop your gut feeling about pricing and whether or not a house is priced to sell. ✅ Walking through houses will expose you to things you cannot learn from photos, like the size of the backyard, the view from upstairs windows, the general condition of the house, and the overall feeling of owner maintenance. The knowledge you will gain from walking through houses will help you communicate better with buyers and sellers as your local knowledge grows. As inventory changes, stay ahead of shifts in pricing trends by walking through new listings consistently each week. You'll better understand the local real estate market and be better equipped to help your clients make informed decisions. Walking through houses helps build your credibility with clients, as you can answer their questions and provide more detailed information about the properties they are interested in.
Leads...leads...leads... Every agent I know wants more leads. ✅ Are you ready for more leads? ✅ Can you handle more leads? ✅ Do you know what to do with them if you get them? Sure, you know what do to with a lead that wants to go see a house this afternoon, or a lead that invites you over to their home on Friday to give them a market analysis as they consider putting their home up for sale. But not every lead is that straightforward. Not every lead is ready to look at homes now or list their home this weekend. Some leads move a little slower than that. Consider these statistics from a recent NAR survey: 🔵 90% of real estate agents give up on a lead after the first four contacts, despite the fact that 70% of the time that same lead will go on to buy a home within the next 12 months, using a different agent. 🔵 80% of buyer prospects are deemed "bad leads"’ by agents, and yet still go on to purchase within 18-24 months. If you are fortunate enough to receive a new buyer or seller lead, and do not have a system in place to engage, nurture, and convert that lead into a client over the next few months, you would be better off not receiving the lead at all. Because if you are not ready to be patient and work with people as they warm up to the process, then turn them over to another agent who has more patience and will not give up on them. At least you might get a referral fee. But I would rather see you cash a full commission check for your efforts. This is what your efforts will look like: 1️⃣ New Lead received... 2️⃣ Lead engagement... 3️⃣ Lead nurturing... 4️⃣ Lead conversion... 5️⃣ Cash commission check... If you want a comprehensive Content Marketing System that will do a lot of the work for you, check out the RARE Agent CRM. You can read more about it on this webpage
After riding a bike for a mile or two, there's nothing more welcome than a tailwind. All of a sudden, pumping those peddles seems a little easier. It feels like your legs got stronger and your lungs have more capacity. You feel pretty much unbeatable. You got this. It's like getting a new listing in a seller's market. But a tailwind can be a disadvantage too. Because if you are tracking your times, monitoring your speed, and measuring your performance, you will get a skewed picture of your true ability when the wind is at your back. Winston Churchill said: "It's a headwind that makes a kite rise". Adversity is the very thing we need to build our strength and endurance. When the wind is in our face, we dig deep to find the best in ourselves. Headwinds make us strong. Representing buyers in the midst of a seller's market is like riding into a headwind. It makes you a better agent. There's nothing wrong with coasting through an easy real estate transaction once in a while, but if that's all you do, then you're not challenging yourself. And if you're not challenging yourself, you will never grow. And if you're not growing, your competition will blow right by you. If you have a bike, today is a great day to take a ride. Take time to think. Push yourself. When you feel a tailwind, stop and turn around and ride directly into the headwind. It will make you a much better bike rider... Just like facing adversity head-on will make you a much better agent. It will you a Really Awesome Real Estate Agent. Keep moving forward...into the wind!
The key to receiving referrals is to educate your clients about your passion for over-delivering and how referrals are a part of your business plan. Explain why you work as hard as you do and how important their referrals will be to the longevity of your career. Make sure they understand you will work just as hard for the people they refer as you are for them. For example, you could say something like this: ▶▶▶▶"Mr. & Mrs. Smith, I hope the work I am doing to sell your home is exceeding your expectations. My goal is to surpass your expectations above anything you ever thought a real estate agent could do for you. That way, when one of your friends or co-workers mentions that they are thinking of buying or selling a home, you will refer them to me. Honestly, there is no better way for you to thank me than that. I would really appreciate it." And just like that, you will have planted a seed for future referrals. And the cycle repeats with every referred client. ✔️ Exceed their expectations... ✔️ Explain how they can thank you... ✔️ Exceed the expectations of the referral they send to you... ✔️ Explain how they can thank you... ✔️ Exceed the expectations of the referral they send to you... ✔️ Explain how they can thank you... There is no better way to build a referral-based business than to ask your satisfied clients to show their appreciation by referring their friends and family to you. That's how you build a massive real estate business that self-generates multiple, pre-sold leads...month after month after month.
We cover a broad range of topics in this community. That's why I call it a Mastermind. We discuss lead generation, working with buyers and sellers, negotiating, using a CRM, content marketing, the importance of mindset and attitude, and a whole lot more. Here are some Tips for NEW AGENTS: ✅ You should never get a real estate license without first having a plan for how you are going to generate leads for your business. ✅ If you are going to ignore Tip #1, then plan to have a part-time job to provide some cash flow while you figure things out. If you don't want to have a part-time job, then wait until you have at least 6-months of cash reserves set aside to pay your bills before you get a license. ✅ Understand that getting started will be hard and if you are going to quit when things get tough, then you are wasting a lot of your time and money as well as the valuable time of dozens of other people who will be willing to help you along the way to teach you, guide you, train you, mentor you, coach you, and support you. Commit to sticking with it, or get out now. ✅ If you are in a committed relationship with another person or have children who depend on you to be there for you every moment of the day, you may want to re-think your path. If you are still gung-ho and agree to persevere through the bleak and difficult times, then explain to the people who care about you just how important this decision is to you and ask them for their full support and patience as you build the foundation of your business. ✅ Don't believe anyone who tells you that the work days will be few and short unless you will be satisfied with one or two transactions a year. Anything more than that will require your willingness to be available when necessary and needed. This means there will be some long days, sometimes every day, including many holidays and weekends. Remember, when people are shopping for a home, the only hours they often have available to look are when they have time off from work. And for most people, that will be evenings and weekends.
Buyers and sellers often pick an agent because they like them. Last week, I posted about how you can unlock the secrets to being "Irresistibly Likable." If you missed the post, here is a link. I know what you are thinking... "Dennis, I thought RARE Agents were skilled professionals with local area knowledge, strong negotiation skills, contract knowledge, and great connections with local trades.....you said that was important!" Yes, all of that is important. But that may not be why people pick you as their agent. In fact, if you are not likable, they may not pick you at all...even though you have all of the right business traits because people like to be with people they like. So how do you win the likability game? It's actually pretty easy. ► Be more likeable! Let's be honest...Real Estate is not the same as being a doctor or a lawyer. Getting a real estate license does not take 6-8 years of education. In my state, you can become legally licensed to sell Real Estate (including pre-licensing hours and final exams) in a few months. It's not rocket science. And you will pass the test with a score of 75%. Magna-cum-mediocre is all it takes to list a home for sale as long as you are likeable. Ok, I'm exaggerating that a bit to make a point but in the eyes of many consumers, the difference between most agents is negligible. So if you've got the business knowledge down, why not be likeable and seal the deal? Here are my top 5 ways to be a more likeable R.A.R.E Agent: 1️⃣ SMILE - A simple, genuine smile will improve the mood of everyone around you. Smiling is easy when you are happy to see someone, happy to show them the new listing that came on the market today or happy to explain to them how you can help them sell their home and reach their goals. 2️⃣ ASK QUESTIONS...THEN LISTEN - People LOVE to talk about themselves. The best way to make that happen is for you to ask the questions. Avoid asking "yes" or "no" questions, as they do not trigger conversations. Ask open-ended questions like: "What prompted you to start looking for a new home?" or "What are your expectations for a smooth real estate transaction?" or (my personal favorite) "Now that we found the home that meets all of your criteria, how do you want to proceed?" The more questions you ask, the more conversational people will be and the more they will like being with you. The goal is for them to talk and for you to listen. Not the other way around.
Here is a fun fact: ▶▶▶ Your brain burns around 260 calories per day and accounts for around 20% of your body’s resting metabolic rate of consumption. Your brain is a supercomputer! And one of the most powerful things you can do with your brain is to THINK about your business. I'm not talking about meditating...I'm talking about thinking. ✅ Thinking involves brainstorming. ✅ Thinking involves learning. ✅ Thinking involves creativity. ✅ Thinking involves strategizing. ✅ Thinking involves planning and setting goals. ✅ Thinking involves problem-solving. ✅ Thinking involves mapping out your future. ✅ Thinking of new ways you can create value for yourself and your clients. In my opinion, strategic thinking is not optional, it's something you must do. Our business can be cut-throat and agents who fail to take time to think, analyze market trends, anticipate challenges, prioritize resources, and strategize their futures will soon fall behind. If you're serious about building a long-term business, I want you to start thinking strategically. Don't wait until it's too late to "pivot" and adapt to market changes. Be proactive, identify potential opportunities and threats, and develop contingency plans to achieve long-term growth, generate leads, and scale your profitability. Strategic thinking is a critical tool for your business survival. You can do a lot of your thinking right here in this group. That's why I am transitioning the name of our community to the Real Estate Mastermind. Because the power of our collective thinking, posting, sharing, commenting, encouraging, and supporting has the power to solve almost every issue we may face in the months and years ahead. Start burning calories and THINK about your business. 🔥 Share your thoughts. 🔥 Share your ideas. 🔥 Share your challenges. 🔥 Share your journey. Your business will be better because of it. Welcome to the Mastermind.
Let's talk about income. How much money you will earn in this business will largely depend on how many people you serve and how good you are at what you do. Here are 9 Skills that will help you stand out: 1️⃣ PEOPLE SKILLS: Your ability to get along with others, communicate ideas effectively, resolve conflicts, and achieve the overall target business goal. People skills are essential for sales, marketing, and customer service, but they are also important when managing transactions when things do not go as planned. 2️⃣ COMMUNICATION SKILLS: This is your ability to convey information to clients, customers, and vendors effectively, accurately, and efficiently. You must master verbal, written, email, text, and voice message skills to facilitate the sharing of information between the parties in a real estate transaction. 3️⃣ NEGOTIATION SKILLS: Your ability to bring Buyers and Sellers together with mutually agreeable terms to complete a real estate transaction. Successful negotiators (YOU) lead the process by counseling clients to make decisions. Just know that it won’t always be pretty. But it's your job to make it happen, or you will not be paid. 4️⃣ PROBLEM-SOLVING: Your ability to resolve complex and unexpected situations in a real estate transaction by identifying and conveying non-obvious solutions to all parties. Sometimes better known as Crisis Management. This is where a large percentage of agents fail. They avoid conflict rather than embrace it as an opportunity to prove their unique skills and overall value to the transaction process. 5️⃣ TECHNOLOGY SKILLS: For better or worse, technology has changed the way real estate is transacted, and there is no doubt that the industry has benefited from improved efficiencies. If you remember the days prior to online listings, IDX websites, RPR, Photoshop, high-definition virtual tours, and electronic signatures on PDF forms, you understand just how much things have changed. Paperless transactions are the norm. Buckle up; there are a lot more changes to come.
John Maxwell is an undisputed expert on leadership. He is an internationally respected speaker and author who has written over 70 books, selling over 20 million copies. His works have been translated into multiple languages around the globe. John Maxwell is a New York Times, Wall Street Journal, and BusinessWeek best-selling author and has written three books that have sold more than a million copies each. One of my favorite John Maxwell's articles was first published on Success Magazine’s website, titled: ►►► "It Only Takes 6 Steps to Change Your Life". 1️⃣ When you change your thinking, you change your beliefs. 2️⃣ When you change your beliefs, you change your expectations. 3️⃣ When you change your expectations, you change your attitude. 4️⃣ When you change your attitude, you change your behavior. 5️⃣ When you change your behavior, you change your performance. 6️⃣ When you change your performance, you change your life. These same 6 steps will change your business too. You can read John’s entire article, including his deeper thoughts about each of the 6 steps on the Success Magazine website
You've heard it said that people will use an agent they Know, Like, and Trust. The "know" and "trust" parts are easy to define, but how do you know if someone likes you? Better yet, how do you become more likable? And how do you become so likable...that you are irresistible? You are in the business of building relationships, and being likable is one of the most important factors in building those relationships. Here are a few signs that you are a likable person... ► You are friendly and approachable. ► You put your clients at ease and make them feel comfortable with you. ► You are a good listener and empathize with your client's concerns and needs. Being likable is not just a personality trait - a skill that can be developed and honed. Here are some tips to improve your likability: 1️⃣ Be authentic: Don't try to be someone you're not. Clients can sense when someone is fake or insincere, which will turn them off. Be yourself and let your personality shine through. 2️⃣ Smile: A simple smile can go a long way in making a client feel welcome and comfortable. Make eye contact, and always greet your clients warmly. Be genuinely excited to see them! 3️⃣ Listen: Take the time to understand your client's needs and concerns and empathize with their situation. 4️⃣ Be helpful: Offer your clients solutions to their problems, and provide them with relevant information. 5️⃣. Follow up: Follow up with your clients regularly to see how they're doing, and offer your assistance if they need it. This will show them that you care about their well-being and will keep you on mind for future business. Remember, changes and improvements take time.
The training video I posted yesterday went deep into commission rates and why they are trending lower. It also provided some strategies and tips about selling yourself and justifying your commission on a listing presentation. If you missed it, here is a link: https://www.skool.com/rareagents/rare-training-0-commissions?p=d8660612 Today, I want to take a deeper look at listing presentations. Specifically, the back-and-forth dialog and the questions. When a seller needs to choose an agent to sell their home, they typically call two or three local agents and invite them to come over to their home to share their opinion about the market, the value of their property, and their marketing plan to make it all happen. And if you are one of the chosen few, you'd better be ready because a listing appointment is a job interview with a lot on the line! Get ready to sell your services... your knowledge... your expertise... your experience... your skills... and the value you bring to the process. Be prepared to answer the question, "Why should I choose you instead of someone else?" And while you should be prepared with your answer the minute you walk in the door, it will probably take a little time before they pop the question. That will give you time to ask your questions first. The questions you ask, and the answers you receive, will help determine if you're a good fit for each other. Here are some good questions to ask: 🟢 What prompted you to reach out to me? 🟢 Where are you planning to move to? 🟢 Have you already found a home in that area? 🟢 What is your perfect timeline to move? 🟢 Can you show me around your home? 🟢 What are your three favorite features about your home? 🟢 Do you have a budget for pre-market preparation? 🟢 Have you sold a home recently? If yes, when and what was your experience like? 🟢 What are your expectations of the agent you will hire? 🟢 Are you considering anyone else for the job?
Real estate is a complex industry that requires careful attention to a wide range of client needs and requirements. Whether your clients are buying, selling, or renting a property, there are five basic needs that all clients have in common. By understanding and addressing these needs, RARE Agents can better serve their clients, build strong relationships, and achieve successful outcomes in every transaction. 1️⃣ FRIENDLINESS - Friendly and personable agents are likelier to establish trust and build a strong rapport with their clients. Creating a welcoming and open environment will encourage your clients to share their needs and concerns, which can lead to a more positive experience for all parties involved. Being friendly and approachable is fundamental to building a loyal and satisfied client base. 2️⃣ EMPATHY - Buying or selling a home can be emotional, and clients need to feel understood and supported. By showing empathy, agents will relate to their client's needs and emotions, which can build trust and foster a stronger relationship. Empathetic agents can anticipate potential roadblocks and provide guidance and reassurance when needed, ultimately leading to a more positive experience for their clients. 3️⃣ CONTROL - Clients need to feel like they can influence the outcome of their real estate transactions. We can fulfill this need by saying "yes" more than "no." For clients to maintain control during the process, it is essential to keep them informed, remind them of their goals, and communicate professionally as an experienced and reliable agent. 4️⃣ OPTIONS AND ALTERNATIVES - By presenting a range of choices, agents can help clients make informed decisions that align with their goals and budget. Providing alternatives can also help clients overcome obstacles and find innovative solutions to complex issues. Offering valuable insights and recommendations will establish you as a trusted advisor, building solid and long-lasting relationships with your clients and leading to referrals and repeat business.
Have you ever wondered how your commission income stacks up against other real estate agents who have been in the business for about the same time as you? Here are some commission statistics from an article I read on TheClose website: ✅ The average income for agents who work between 21-39 hours per week is $46,458. ✅ The average income for agents working 60+ hours per week is $145,347. ✅ The average income for full-time agents who’ve been in the business 4-10 years is $63,595. ✅ The average income for full-time agents who’ve been in the business 11-25 years is $101,633. ✅ The average agent in the United States closed 12 transactions in the last 12 months. As they say...your mileage may vary. Reading those statistics makes it clear to me that the more time and effort you put into your business, the more you will get out of it. The longer you stay in the business, stacking new skills on top of your past skills, the higher your income will potentially grow. I don't know of another job, another business, or another career, where your ability to earn six figures (and more) is more attainable than the real estate business. As long as you are willing to put in the time.
I looked at my Facebook account and realized I was a member of 37 different Facebook groups. No joke... t-h-i-r-t-y...s-e-v-e-n...F-a-c-e-b-o-o-k...g-r-o-u-p-s! Who has time for that? Not me! So I made three decisions: 1️⃣ I left 31 Facebook groups I was not actively engaged with or benefiting from. 2️⃣ I committed to actively participating in the groups as an admin or moderator. (2 groups) 3️⃣ I reallocated the time saved to serving the members of the RARE Agent Community by providing more valuable content, participating in discussions, and helping RARE Agents grow. I am not looking to grow this group to a huge number. That is not the priority. I want to create a community where agents can collaborate with other like-minded RARE Agents and provide direct access to ask me questions in an open forum. Let's have a fantastic week together!
I was speaking to an agent in my office yesterday who told me he had more new leads than he could keep up with. He was struggling with returning phone calls, emails, and text messages. Sounds like a good problem to have, right? Wrong! Client overload can quickly turn into a downward spiral if your clients feel that their needs are not being given proper attention. If you are slow to return calls, emails, and text messages, you need to fix that problem NOW. Clients who can’t communicate with you become frustrated clients. Don’t allow advocates to become “mad-vocates”! Find another agent you can partner with to share the load or consider joining a team where support is available when you need it most. People today have ZERO patience. Especially when they are in the market to buy a home. People are searching on Zillow while you are sleeping. And they will, eventually, click the "send me more information about this property" button if they can't reach you. If you do not have a system to respond to incoming leads within 10 minutes, be prepared to lose a large portion of your incoming leads. Fix the problem before it costs you thousands of dollars. Generating leads means nothing if you are not prepared to answer their calls.
I want to share some of the success habits that have helped me reach my own personal goals and helped many other agents achieve their goals. These are the habits that allowed me to scale a thriving business, establish myself as a respected leader in my local community, and helped other agents elevate their businesses to the top 5% status. If you're ready to take your business to the next level, adopt these atomic habits into your business: ➡️ Use a CRM. I started using a CRM shortly after getting my license. My broker told me it was non-negotiable if I expected to build a big business. I recommend you subscribe to The RARE Agent CRM. Enter everyone you know into the contacts module, send the included monthly marketing content to your sphere, and learn how to incorporate drip email marketing into your follow-up. ➡️ MLS Hot Sheets. Review the MLS Hot Sheet every morning looking for new listings, price changes, status changes, and sold homes in your target farm area. Personally preview all new listings within the first 1-2 days of listing. The only way to become a local area expert is to know what is on the market and what homes are moving in your local area. ➡️ Realtor Tours. Attend all of the Realtor Tours you possibly can (as your schedule permits). Especially the ones around your local area. Don't be afraid to spread out and go on tours in the nearby suburbs you are curious about. Try to work your schedule around them but do not let tours supersede listing presentations or client-showing appointments. ➡️ Open Houses. Hold 2-3 Open House events every month to fill your pipeline with new buyer leads and be more visible to potential sellers in the area. Create walk-through videos at each open house and post them to your social media. ➡️ Coffee! Schedule no less than five in-person coffee meetings with the people in your sphere every month. Bring along a complimentary printed CMA for their home. Use a program like CloudCMA or RPR and have them spiral-bound at a local print shop.