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The Flurry of Activity

pricing Jun 20, 2019

Whenever you list a property, there’s almost always a “flurry of activity” at the very beginning of the listing period.

These are the “current buyers”; the group who were already actively looking BEFORE your new listing hit the market.  Chances are, these buyers have already viewed most or all of your direct competitors.  So, what are they doing now?

They’re waiting for new listings!

The flurry comes on strong at the beginning of your listing and dies out just as quickly.  The current buyers don’t want to miss out on seeing your hot new listing.  These buyers are ready, willing, and able to buy, as soon as they see the right property.

Aside from “current buyers” there are two other main buyer groups – “new buyers” who are just beginning their search, and “bargain hunters,” who typically wait until your property has been on the market for a while before they start lobbing...

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The Spring Squeeze

pricing Jun 13, 2019

In one of my previous lives, I was in the motorcycle parts business, which is very seasonal.  There’s not a lot of activity through the winter months, and then the spring hits hard, and it’s pandemonium for a couple of months. 

I’ve found that it’s not much different in Real Estate.  While it’s true that properties sell all year round, a skilled agent learns to have increased awareness of the seasonality of the business, especially for certain market segments.

For example, young families are most likely to be out looking for their new home in the spring, so they can take possession in July or August before school starts in the fall.

If you take a look at the monthly sales volume for this type of home specifically, there is up to FOUR times as much volume in the busiest months (May and June) as compared to the slowest months (December and January). 

Note: I’m looking at my local (Calgary) market for this data, but it’s not...

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Calling for Calling's Sake

general real estate Jun 06, 2019

The other day, I ran across this post on a REALTOR® Facebook group (paraphrasing):

“I’ve got a large list of leads that another agent gave me, but they’re really old, and most haven’t been contacted in over a year.  Any advice on a script to use when I call them?”

There was a whole bunch of “helpful” suggestions from other agents, on what to say and how to approach the situation.

I was dumbstruck.  But here’s what I should have said:

Throw them in the garbage!

SURELY you have something better to do with your time, than chasing after stone cold “leads” (?).

Another similar situation came up with a coaching client.  This guy is good.  He works hard, and he’s disciplined.  But he’s following a program he learned from someone else, and he takes it a bit too literally.

The program states that you must contact a certain number of people in your COI daily.  Well, he doesn’t...

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You Were Right

If you’re a professional REALTOR®, you probably started your career full of enthusiasm, with high ideals that you were “going to make a difference” by providing outstanding service to your clients.  They were going to you and your business would flourish, as a result.

Then “reality” set in.  Some other REALTOR® broke the news to you, “That’s not how it works!  Here’s what you gotta do:

Call crappy Internet leads and FSBOs and Expireds all day, using scripts that were developed 50 years ago, “If they say THIS, you say THAT.

"Here’s your scripts; learn ‘em.  Here’s your prospect list; call ‘em.”

Doesn’t that sound dumb when you read it out loud?

If that’s not bad enough, now it’s all the rage to PAY for leads.

Hahahahaha!   PAY for leads?

Guess what?  Those leads are garbage, too.  You wanna PAY for garbage?

News Flash!  You...

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Good is the Enemy of Great

Jim Collins opened his book Good to Great with the statement, “Good is the enemy of great.”

He explains that this is one of the key reasons why we have so little that becomes great. We don't have great schools, principally because we have good schools. We don't have great government, principally because we have good government. Few people attain great lives, in large part because it is just so easy to settle for a good life.

One of the conclusions of Good to Great is this:

“Greatness is not a function of circumstance. Greatness, it turns out, is largely a matter of conscious choice, and discipline.”

If you want to be a great REALTOR®, you’ve got to stop settling for “good enough”. 

You’ve all encountered great REALTORS®, and I’m not talking about the “celebrity” agents; the ones who spend hundreds of thousands of dollars marketing themselves.

I’m talking about the quiet ones, who...

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The 4 Communication Styles

communication May 16, 2019

You know those “lucky” REALTORS® who always seem to get what they want? 

That’s not luck!

Those agents have mastered the skill of recognizing different communication styles, and they’ve learned to adapt their style to match.

In any relationship-based business, this is likely the #1 most important skill you can develop, and it’s not nearly as hard as you might think once you set your mind to it.

Let’s start by identifying the four main communication styles, as shown here:

The horizontal axis measures assertiveness and pace, and the vertical axis measures responsiveness and whether a person is more relationship-oriented or more task-oriented.

Now, let’s look closer at the different communication styles and consider how you might alter your style to communicate with other styles more effectively.

1. The Analytical

Analytics are information oriented, and they have a keen eye for detail. They have a deductive reasoning process and will...

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The Truth About Real Estate Training

general real estate May 09, 2019

When it comes to choosing a REALTOR®, one of my core beliefs is that the public is best served by having direct communication with a knowledgeable, skilled, customer-service-focused individual agent (or partnership).

I was a top-performing individual agent for my entire career, earning between $590,000 and $865,000 from my second year–on.

When I first started in Real Estate, I realized right away that I was severely lacking in the level of knowledge and skills that I expected of myself, in order to feel like a true professional.

Let’s face it; it doesn’t take long to figure out that the stuff they teach you in “REALTOR® School” is woefully inadequate in the real world.

Compared to my previous business career – where I was regarded as an industry leader as the founder and president of a $50M company – when I first started in Real Estate, I felt like a fraud.

I mean, why should anyone trust ME – with such a minimal level of...

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The New Stats Are Out!

Do you dread analytical questions about the market? 

Do you struggle with how to explain to clients how the market may affect the sale of their property?

Do you have over-priced listings right now that are stressing you out?

Keep reading, and I’ll solve ALL these problems for you.

Personally, I always thought that having a clear understanding of current market conditions was the #1 most important part of my listing presentation.

In my local market, we have a high percentage of analytical types, including thousands of engineers and other scientific people.  But these are not the only people who appreciate this type of information.  Studies have shown that a very significant percentage of the population have a preference for analytical thinking.

If you’re not giving these people what they want, you are most definitely limiting your potential. 

It’s not as hard as you might think to put together a Market Analytics section for your listing...

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Price It Right or Walk Away

Have you ever knowingly accepted an over-priced listing?

We all have.  And here’s what happens, almost every time.

  1. The seller contacts you frequently wanting to know what you’re doing to “market the property”.
  2. You waste all kinds of time doing Open Houses and other activities, hoping beyond reason that somehow, it’s going to sell.
  3. You’re concentrating an undue amount of energy on your worst listing, to the detriment of your good listings.
  4. The sellers are completely resistant to any price adjustments. Big surprise: They haven’t suddenly become reasonable. ‍
  5. It ends badly. In their eyes, you’re a terrible REALTOR®. And guess what?  That’s what they’re telling others. 
  6. The listing expires. They list it with your competitor for the proper price (the one you recommended) and it sells right away. ‍

The kick in the head comes later when you notice that same competitor’s signs popping...

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The Truth About Photography

marketing Apr 18, 2019

It’s not JUST the Photographer

“The images are BY FAR the most important component in the marketing of your property.”

Whenever I made this statement during a listing presentation, I can’t remember a single time when my clients didn’t immediately and emphatically agree.

Because, guess what they were doing right before I got there?

Looking at listings!

And, of course, there are always plenty of examples of listings with terrible photography.  There’s no need for you to bring it up.

Your clients will often become quite animated about how awful some of those listings are. 

Of course, you use a professional photographer for all your listings, right?

If you don’t, why are you even reading this?  Go away! You need to go check out the Help Wanted ads, because you’re not going to be a REALTOR® for much longer.

Using a professional photographer is pretty much a basic expected service, nowadays.

So, what else is there to...

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