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7 Powerful Real Estate Agents Tips – Sales Techniques of the Real Estate Masters

00:00
hi there my name is rich Groff from our
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G performance development glad you could
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make it here today you’re on stage one
00:06
or our first offering of a new e course
00:09
we’ve got four real estate agents that’s
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called secret six-figure sales tips of
00:13
the real estate masters you know the
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reason I called it that and it is a
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tongue twister and I’ve been trying this
00:17
really hard so you can laugh a little
00:19
bit with me on it is that there is
00:21
something that people that are at the
00:23
master level of real estate that do
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certain things that we just aren’t
00:26
really aware of but it just seems to
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flow so much more easier for them then
00:30
when you’re first starting off or maybe
00:32
you’re struggling with certain areas of
00:33
your sales process so I’m going to
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uncover a couple of those areas that are
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going to make things a lot easier for
00:38
you so if you’ve ever noticed you know
00:40
in time when you’re working that
00:42
occasionally things are tough and it’s
00:44
not going the direction that you want it
00:45
to work you might find that you thought
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you had the buyer and for whatever
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reason you know you take a little bit of
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a break one day where you’re not on it
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just taking personal time even just a
00:55
breathe and the next moment you turn
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around you find out they’re gone with
00:59
somebody else or if you’ve ever had that
01:01
moment where you thought you were going
01:02
to get the listing you did everything
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right great communication and all of a
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sudden you get a phone call and you’re
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not the person they’re going with well
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you know how that feels I mean you’re
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all down for a day or two and it just
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kind of takes you off your game and
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there’s those moments when you think
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they’re going to go forward with that
01:18
purchase and for whatever reason you
01:20
can’t figure it out if you’ve ever had
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one of those moments you’ve got to know
01:24
that they were frustrated and they take
01:25
you off your game and you might lose one
01:27
sale but it gets you kind of in a rut so
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today we’re going to talk about a couple
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of things that are going to bring you
01:32
full circle so you get a real great idea
01:34
about what’s going on because you know
01:36
it doesn’t have to be hard but we can
01:38
make it hard if we want to and if we
01:40
don’t know what we’re doing we’ve just
01:41
made it hard so we’re going to take out
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some of the myths we’re going to find
01:44
out what’s really going on and we’re
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really going to find out what the magic
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formula is because if you’ve ever
01:48
wondered what it is we need to know what
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that is because we’re in sales we make a
01:52
living from it and I like to help
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clients work smarter not harder and
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that’s what this magic formula is all
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about so if you’re interested stay tuned
02:00
there’s lots coming up so this is what
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we’re going to be covering in this
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course so in day one we’re going to talk
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to you about how to boost your sales
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conversion in your real estate business
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and that’s a hugely important time to
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really get clued in about what
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you really need to know we’re going to
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demystify we’re going to make it simple
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we’re going to make it so that you
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really know exactly what it is that
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you’re doing well and the stuff that
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you’re not doing so well and that’s
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important that’s valuable it’s like
02:25
money in the bank so you’ve got to have
02:26
that one so stage one that’s we’re going
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to talk about a few minutes day two
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we’re going to talk about real estate
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buyers and why they don’t like to buy
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you know when you’re working with
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somebody they say they want to buy and
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then all of a sudden they’re not working
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with you so you’re going to want to know
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why they’re not working with you and
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what’s really going to take for them to
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turn around and and get to the place
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where they’re moving through the buying
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cycle
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you’ll be surprised at what you find out
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in this particular session and I
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guarantee you you’re going to probably
02:49
make sales because of it and that’s
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really important to know day three we’re
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going to cover the tips that real estate
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masters use when they’re finding new
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buyers at real estate open houses why
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well my goodness if you’re going to do
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an open house you need to make it worth
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your while and you need to grab those
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clients so that you can get them for you
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not someone else because you know what
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if you’re doing the work get paid for it
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that’s just my personal thought you know
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day four we’re going to talk about
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motivation sellers buyers Wow how do you
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find them motivated where do they are in
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the motivational scale how do you make
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them more motivated or help them get
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more motivated about making the right
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move and you see they can be kind of if
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you’ve ever had a buyer or a seller that
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just seems to be dragging their feet all
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the way through the selling process you
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can know that that is just a nightmare
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that keeps you up at night and and they
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take more time more energy then we
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really need to have it take so we want
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you to really know what it takes to get
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your client motivated and help them
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through the process and you know what
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they want you to really help them get
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motivated to that’s our job so let’s do
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it so that we can make it easy for
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everybody because that’s really
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important day five we’re going to talk
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about how to build client rapport you
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know it’s that famous word that we talk
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about sales rapport rapport we’re going
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to build rapport which is a lot more
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than just talking to somebody it’s
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really connecting with them at a level
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that they go wow this person gets me and
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they can trust you and why it’s
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important how you can you know control
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that how do you make it better we want
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to know without any question where you
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can make your rapport work better for
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you because any time you do is probably
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another sailor to a year and well that’s
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a lot of money so let’s really learn how
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to do rapport and let’s kind of
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demystify
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what it takes to make that happen now
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day six we’re going to talk about client
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agreements you know this is something
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that nobody else talks about in the
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industry they may allude to it but
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client agreements are things that we
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actually talk about and we say to our
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clients are not say to our clients that
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dictate how well you’re going to get
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along with that client so if you’ve ever
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had a client that for whatever reason it
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the whole relationship just got really
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tough and it was a grinding motion that
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took place that means that there’s
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probably some things going on and most
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of that can go right back to your time
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when you were talking to them first off
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and you establish the nonverbal client
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agreement so I just break it down step
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by step by step that in itself is worth
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tons of money you’ll be able to make
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more and more sales just because you’re
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using your client agreement and you know
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what when I started using in my personal
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business I eliminated client problems I
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very seldom do I ever have a client
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problem why because we actually make
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your grievance in advance and part of
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that agreement is what we do if things
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are not working right so everybody has a
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part of this game and they really make
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it work for themselves and you want to
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have that to success success success
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that’s what we’re after here so now
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we’re going around that whole offering
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rate up with the last thing and I call
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it the mistakes that the real estate
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professionals make that the Masters
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don’t make so there’s two ways to learn
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in life you can learn from your mistakes
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or you can learn from somebody else’s
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one of them is going to cost you a lot
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more one of them you got to say to
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yourself I need to learn something so
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there’s a little bit of a toss up here
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if you really want to do it the hard way
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I’m all for that however I encourage you
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to try the easier out let’s learn for
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somebody else’s mistakes I’m going to
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give you some things that probably
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you’re going to go oh yeah that makes
06:02
sense but let’s see if we can get it to
06:04
the place where you actually put it to
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use make it yours and make it real
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because you know what I’ve helped
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hundreds and hundreds of hundreds of
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people in the real estate business if we
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can save you a little bit of time a
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little bit of money a little bit of
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energy a lot of sweat I mean let’s do it
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and let’s not make those mistakes that
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cost you ten or twenty or thirty
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thousand dollars because that’s valuable
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money and I don’t know about you but
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maybe that’s your next trap maybe it’s
06:26
at your next car but it’s really
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important that you know where you’re
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losing it so you know do it over and
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over and over
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and over again so we’ve got seven days
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they’re exciting they’re powerpack let
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me tell you a little bit why I put this
06:37
all together because it’s important that
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you know a little bit about the
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presenter if that’s me and why I bring
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this to the table
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I’ve spent probably 25 almost 30 years
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it’s hard to believe started when I was
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six you know that but I started when I
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was young and I decided to go into
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professional sales not really thinking I
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was going to go in sales but more for
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business purposes as it turned out I
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went in all kinds of different sales so
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I’ve been in lots of different
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industries including the real estate
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industry insurance all kinds of
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different things and there’s a lot of
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things that are similar in every single
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industry
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what I discovered though is that it’s
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the things that make you know the little
07:11
things that make everything work in the
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sales process that really help people
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get going instead of just talking about
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one isolated bit here one isolated bit
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there I take a look at everybody’s
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performance and I found out really
07:23
quickly that you know what if we just
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discover the good things that you’re
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doing in your sales cycle and then tweak
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the stuff that needs to be tweaked small
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little changes here and there you can
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double you can triple your outcome and
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that’s really exciting and most of my
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clients that have actually doubled and
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tripled their how come we have a program
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that’s called fast fundamentals
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countability skill training we’ve got
07:45
our unstoppable sales conversion system
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as well when people go through those
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programs they just love the fact that
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they’re doubling your income same amount
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of energy and input now I look at that
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and I go wow you know any day that you
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can actually work hard have a good day
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and produce is good but when you can
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work the same day turnaround double your
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output well that’s just that’s just
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wonderful
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I love that idea there’s a feeling of
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success and and really embracing the
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fact that you’re in your zone and some
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people will come to me afterwards and
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it’s always an exciting thing they come
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up and go rich I didn’t think was ever
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going to be this easy
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it was never I just can’t imagine I’m
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doing this much volume and it’s so
08:23
effortless and it’s just so just landing
08:25
on my lap so easy and it’s not easy it
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is hard to get out of your own way
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that’s the part that’s most important
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when you’re starting to look at your
08:33
performance and we want to help you with
08:34
that today so let’s get things going
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let’s talk about day one because day one
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is all about your sales conversion and
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what do you need to know about sales
08:43
conversion sales conversions in
08:44
topic that basically means that you do
08:46
certain actions and you get certain
08:48
outcomes so input and output so let’s
08:52
talk about that
Categories
Videos

Buyers Beware! Five common tricks real estate agents user – Buyers Agent Tips from Bryce Holdaway

Transcript

00:00
Today I want to talk about, from the buyers’ perspective where they should be beware of
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some of the sneaky tricks that real estate agents employ to get more money out of them
00:09
to pay more because ultimately, what we need to understand is that the real estate agent’s
00:14
job is to get a premium price for their client, who is the seller.
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So if we take a step back when someone is deciding to sell a property, quite often they
00:25
might get two or three agents into their living room to decide whether or not which of them
00:31
would actually sell the property on their behalf.
00:34
So they are all doing a sales pitch and one of the parts of the pitch is the agent saying,
00:38
“Well, I would get you the best price because I can negotiate really well, I can market
00:45
really well and I can attract the most amount of buyers to your property so that I can achieve
00:50
that end game.”
00:51
So it is important that the buyer understands this because quite often they don’t see that.
00:56
So then when it comes to market, they are trying to get the property for the cheapest
01:00
price possible but their opposing side is the real estate agent.
01:05
So it makes sense that the real estate agent is going to employ some tactics to do that
01:08
but the buyer should really beware of those.
01:11
And the number one, without doubt a sneaky trick that real estate agents employ is underquoting.
01:17
Now, if you think about Adelaide for example, they would give you a price range, call it
01:22
$650,000 to $690,000, chances are you are going to buy it between $650,000 to $690,000.
01:27
But in Melbourne or Sydney for example that’s not the case.
01:29
Quite often it can be 10% – 25% below where the actual property would go.
01:36
Now the real estate agents has a saying, “Quote it low, watch it go.
01:39
Quote it high, watch it die.”
01:41
So they actually have an incentive to create competition because if two people are fighting
01:47
for a property, they can get that premium price that they have promise the vendor in
01:50
the listing presentation.
01:52
So if they quote it nice and low, they can attract more people, ideally from a lower
01:57
price bracket and bring it to auction or even a private sale and get them fighting it in
02:02
a battle of the fittest and who has the deepest pockets and who is actually going to win on
02:08
the day.
02:09
But why is it a sneaky tricks for the buyer?
02:11
Because they can easily led to believe if it was $650,000 plus, they may reasonably
02:17
be able to buy it between $650,000 and $670,000 but ultimately, it’s probably always going
02:22
to go for $670,000, for example.
02:25
The poor old buyer gets a building inspector, get the solicitor to check the contract for
02:31
them, they invest a lot of emotional capital into the purchase but from Day One they were
02:36
never in the hunt.They’ve spent money on all of these services and they have also spent
02:40
some of their precious time.
02:42
So the Number One sneaky trick that a real estate agent does is underquoting.
02:46
A kind of a lead on from that is the second sneaky trick that they do is when you ask
02:52
them, “What’s the price is?” they stay very very vague on the price.
02:57
They may say something like, “It is the first week of the campaign, we haven’t had many
03:01
buyers through so we are just gauging what the market is willing to pay.”
03:07
But they know very well where that price band is because they told the vendor in the lounge
03:12
room during listing presentation so they do know the answer to that but they stay vague
03:17
for a reason.
03:18
Again, because they want to create maximum competition so don’t be surprised if you ask
03:23
a real estate agent a direct question and you don’t get a direct answer because it’s
03:28
their job to try and stay vague to create some more competition.
03:32
The third sneaky trick that often comes up is they use the tactical fear of loss.
03:39
As soon as they know that you are slightly interested in the property, it’s amazing how
03:43
quickly there’s another buyer.
03:45
In fact, there’s actually another buyer who has just shown some interest or it might be
03:49
as simple as, “Hey you know what, I know you like this but I’ve got another buyer coming
03:53
through this afternoon for their second look.”
03:56
And it creates this feeling of missing out.
03:59
So it taps into the emotion, it taps into your fear of loss and therefore you may be
04:04
prepared to pay an emotional price for the asset.
04:07
So my advice on that one is don’t necessarily fall for that tactic because chances are there
04:12
might be another buyer but equally, it might just be a tool that the agent is using.
04:18
So a way to arm yourself from that is make sure you are rock solid on knowing what the
04:22
value should be because if you do find the property that you like, you can act quite
04:26
quickly so that you can make sure that you get it but don’t necessary fall for it each
04:31
time because they real estate agent is using that for a sneaky trick to get you to pay
04:35
more.
04:37
The sneaky trick number four is when you ask a real estate agent as a property investor,
04:44
“How much do you think this property will achieve in rental?” and often they have this
04:48
blank look, “Ooh.. about $500 a week.”
04:52
And maybe it’s the first time that they even thought about that question because they may
04:55
be thinking that it’s going to be an owner occupier that will buy it and you might be
04:59
relying on $500 a week but the reality is the market is only paying for $430.
05:04
So the sales agent is incentivised to make the property look really great.
05:10
So you need to do some independent research to make sure you know exactly what does rental
05:15
estimates should be and another part of that is if they offer a rental guarantee which
05:20
says that, “When you settle on this property, we will guarantee that you would get your
05:24
$500 a week.”
05:25
That should be a big alarm bell.
05:27
If you are buying a property that is in demand by the locals and at fair market value, there
05:32
should be no need for a rental guarantee.
05:34
So you got to ask yourself, if they are offering one, why is that?
05:38
Straight away you should be unpacking that and try to find out behind the veil what’s
05:43
really going on and what is incentivising them to offer a rental guarantee when the
05:48
market should just be working for you in it’s normal operation.
05:54
And the last one, number five, is be careful of the pre-auction offer.
06:01
If the real estate agent thinks that the buyers are liars and most buyers keep their card
06:06
close to their chest and don’t tell them how much they are willing to pay, what the agent
06:11
is incentivised to do is get you to make a pre-auction offer so they would at least know
06:14
where your interests are at but they may have no intention or whatsoever on selling prior
06:20
to auction.
06:21
So if you going to make a pre-auction offer, you need to understand a lot more information
06:25
about the vendor’s motivation.
06:27
Because even if the vendor is motivated to sell prior to auction, the agent may not be
06:32
because you think about it.
06:33
It’s free advertising for them, it’s street theatre to actually go through the auction
06:38
and quite often the neighbours would come and watch the auction in place.
06:42
So therefore if the agent performs well as an auctioneer and they get a great result,
06:48
they may get their next listing from the neighbour, the guy down the road or two streets away.
06:53
So they are highly incentivised to actually go to auction.
06:57
If you are going to make a pre-auction offer, you need to understand the vendor motivation
07:00
very well and understand that it might just be what the real estate agent is using to
07:05
tease out how much you are prepared to pay because they might come back to say, “Actually,
07:09
the vendor just wants to take this to auction now but they do know how much you are prepared
07:12
to pay.”
07:13
So there is a few little sneaky tricks that the real estate agents would employ to get
07:17
more money out of you and if understand what’s going on, you can be in a better position
07:23
to make sure you don’t fall for those tactics.
07:27
Now the way you can guard yourself against those tactics, as I say it all the time, it
07:30
know your value.
07:31
If you know your value is, you are not going to be seduced by what the real estate agents
07:34
is telling you and you if you don’t know your value, then employ a professional.
07:38
Go get a valuer who can value the property for you and tell you what it’s worth.
07:42
Go find a real estate agent who you know who doesn’t have the listing and you can talk
07:46
to.
07:47
They may have actually missed out on the listing and they are quite prepared to tell you how
07:50
much you should prepare to pay.
07:52
Or of course, talk to a buyers agent who does this everyday and they know the tactics that
07:57
the real estate agents is going to employ and they don’t fall for it.
08:01
So hopefully, there are a few tips there for you to, “Buyer Beware” and understand what
08:06
the sneaky tricks are that the real estate agents employ to get more of your money.
Categories
Videos

Tips and Advice Every New Real Estate Agent Needs to Know |

Transcript

00:00
– If you’re under five years in the business,
00:01
you wanna a learn how these two did 122 transactions
00:04
the first 3 years in the business?
00:06
Watch the show.
00:07
(rock music)
00:12
Hey, welcome to the Tom Ferry Show.
00:13
Today I’m speaking directly to agents
00:17
that are less than 5 years in the business,
00:19
who have the desire to become exceptional.
00:21
So, if you’re watching this right now
00:23
and your desire is to take your business from two or five
00:25
or seven transactions, and get to 87 transactions,
00:29
66 transactions, did I say that right?
00:31
This is what the show is all about.
00:33
So, let’s just start by just some introductions.
00:36
Tell ’em who you are, where you’re from,
00:37
how many homes that they now know,
00:39
and how long in the business.
00:41
– Anne Schreiber , Schreiber Team from San Diego,
00:43
California north county and Last year we sold 63.
00:47
This year, we’re on target for 100.
00:49
– Congratulations.
00:50
Six years in the business?
00:51
– Yes.
00:52
– Unbelievable.
00:53
– Jeremy.
00:53
– Awesome. Jeremy Cady
00:54
I live in Atlanta, Georgia.
00:55
I have a team in Atlanta,
00:56
and I have an expansion team in Jacksonville, Florida.
00:57
We are completing our fourth year,
00:59
and we’re on track to do 120 transactions this year,
01:01
and are smiling and having fun.
01:04
– Alright, so now, as you’re watching this
01:06
I don’t want you to get overwhelmed.
01:08
I asked these two, specifically, to be apart
01:09
of this show to talk about the tactics.
01:12
So, whether you’re watching,
01:14
you could be 20 years in the business
01:15
and looking for a little reset.
01:17
Or, you’re just coming into the real estate
01:19
industry you’re four or five years in.
01:21
How do we really do it right?
01:22
So I want to just start with if you were starting
01:25
over today knowing what you know now,
01:27
what would you have done differently.
01:29
Either one of you.
01:31
– I think for me I hired a coach
01:35
very quickly when we got into the process
01:36
which I believe was probably one
01:37
of the greatest decisions that I made.
01:39
I didn’t even know the magnitude
01:41
of the decision at that point.
01:43
But looking back, I would have stayed very consistent.
01:45
– Consistent with what?
01:47
– My coach and I, we really came up with,
01:49
basically, pillars and business plans
01:51
of where our leads were gonna come from.
01:52
But when and I think a new agent
01:54
can probably relate to this,
01:56
when you don’t see results in 90 days you run this way,
01:58
and then you try to run this way.
02:00
– I tried this and I tried that,
02:01
– Absolutely. – And I tried this.
02:02
– So, to answer that question,
02:04
looking back, I would have stayed extremely consistent
02:05
for a minimum of nine months, maybe a year.
02:08
On levers that we said, whether you’re buying leads,
02:11
whether it’s for sale by owners,
02:12
whether it’s expiress.
02:14
Whatever you’re getting your business from in the plan,
02:16
– Your past clients,
02:17
open houses. – Stay consistent.
02:18
– Knocking on doors.
02:19
Yeah, I don’t care if you freaking out.
02:21
Stay consistent, because it’ll work.
02:21
– This show could stop right
02:23
there if everyone just did that.
02:25
Think about it, in the number of people I talked to,
02:26
I tried this and it didn’t work.
02:28
I knocked on doors once.
02:29
I tried an open house no one showed up.
02:31
Oh no you’ve gotta do it 30, 40, 50, 60, 80 times.
02:34
– Instant gratification society.
02:35
– And then you start to get some data.
02:36
So Anne what would you say?
02:37
Looking back six years ago which was like yesterday.
02:40
– Well I did the same I joined coaching really quickly
02:43
which had a profound impact mostly financially.
02:45
‘Cause we didn’t have any money.
02:47
We had no money when.
02:48
– Okay speak to that.
02:50
– Well it’s really a super expensive business
02:52
and if you have no money you have to be very creative.
02:54
So at my first summit when I was there
02:56
and you still do this and it still matters.
02:58
You were like here’s your first commission check.
03:00
This amount goes here, this amount goes here,
03:03
this amount goes there.
03:04
– You’ve seen this on the Tom Ferry Show.
03:05
– And when you have savings and you manage your money
03:10
correctly you can make different business decisions.
03:12
You don’t have commission breath,
03:13
you’re not panicked it like drives so many things
03:15
when you have money in the bank.
03:18
You can make better decisions than huh!
03:21
I have to close this deal,
03:23
so that and also organizing your database
03:26
I would have gotten an accountant a lot sooner.
03:28
I would have had a bank account a lot sooner,
03:29
I would have had a credit card
03:30
a lot sooner all for the business.
03:32
– Like business accounts.
03:33
– Yes.
03:34
– Yes.
03:35
– That would have separated it.
03:37
I didn’t separate it from all my business stuff
03:38
for about 18 months and that was a mistake.
03:39
– Let me intervene on both of you really fast.
03:41
I think the vast majority of people
03:42
that get into real estate business
03:44
think they’re getting into selling houses.
03:48
– Yes. – Yes.
03:49
– As if it was like I sell cell phones
03:51
and I sell houses, right?
03:52
People that sell cellphones aren’t running a business.
03:55
They’re a sales person, you walk in
03:57
and you say I want that phone.
03:58
– Punch in punch out.
03:59
– Talk about starting a business.
04:02
Like share with them what does it mean to business.
04:04
What should they be focusing on if they’re watching
04:06
this if they’re not incorporated as an example.
04:09
What should they do?
04:10
– Well you have to have a business plan
04:11
which I was lucky enough to have both you and my sales
04:14
manager ask me to do and when you’re an entrepreneur
04:15
you look at the world differently.
04:20
You wake up and you know you’re unemployed everyday
04:22
and you have to go find business.
04:23
That is very different than I’m gonna go sell.
04:25
So I don’t know if that helps but.
04:28
– Yes so starting with the business plan
04:30
which you got hit kinda two different ways.
04:31
And you’re an entrepreneur, if you don’t kill you don’t eat.
04:34
So running a business, starting from the beginning.
04:38
– I think one of the biggest things that happen
04:39
to me is I was introduced to the network of people
04:43
and one of my favorite sayings says,
04:45
if you sit with winners the conversation different.
04:47
And so from the very beginning I very intentionally
04:52
sought out the help of people that had been
04:54
in the business 15 years, had reinvented themselves.
04:57
Fallen, gone down or whatever and I just gleaned
04:59
knowledge and said how do you do this.
05:02
How do you do that and how do you do this.
05:03
And in this space, I mean real estate agents
05:05
we all like to share, we like to talk.
05:07
We like to go back and forth and the value
05:09
of that allowed me to basically wrap my head around
05:13
that my business is not a hobby.
05:15
This is not a hobby, I mean yeah I can go sell houses.
05:18
You can go sell three or four houses and five houses,
05:20
that can be a hobby, that’s a cool hobby.
05:22
But if you actually want a business,
05:23
you actually want something you can transfer
05:25
to your family or change your family tree
05:27
or have something you feel passionate about.
05:30
It’s gonna have to be business,
05:31
so what is a business, it takes time, it takes a plan.
05:33
But I believe mentors are huge and it changed my world.
05:37
– Having the exposure right.
05:39
– And anyone, any new agent could literally plug
05:41
into any eco system, yours mainly.
05:43
And just say hey, you’ve sold 372 houses can I just come buy
05:47
you coffee for two hours and I’ll wash your car.
05:49
Tell me how you did it.
05:52
– But what if they say no?
05:54
– Then go pick the next one.
05:55
– Thank you very much.
05:57
– ‘Cause we all share.
05:59
– Right ’cause so many of us we get stuck in the no
06:00
and I’m like well that’s what’s gonna kill you
06:02
in every area of your business.
06:04
If you get the no and you stop.
06:05
– Why wait five years to make a mistake.
06:06
– Exactly, exactly.
06:07
– Learn from the beginning.
06:09
– Mindset, accountability, all that stuff
06:11
is just gigantic being a business owner.
06:12
And you have to talk with other business owners
06:13
and study success and fill your mind, right.
06:16
With all of how to handle no.
06:18
– So let’s talk about a daily schedule.
06:20
Let’s get really granule, so it’s year one in real estate.
06:25
And how many homes did you sell year one?
06:26
– 61.
06:27
– Okay so 61 and we kinda talk about it,
06:29
I know it drives you nuts, I know.
06:31
Now you gotta remember – It was crazy.
06:33
– He also came from running a business
06:35
and he was used to a certain lifestyle
06:37
which we can talk about in a minute.
06:38
– That’s correct.
06:40
– So Anne how many homes did you sell year one?
06:41
– Five.
06:42
– Five, this is perfect, right perfect.
06:44
– It is.
06:45
– How did do in year two?
06:46
– 15.
06:47
– 15 I think that would be called three x.
06:49
What did you do the next year?
06:50
– 36.
06:52
– Hello that’s called exponential growth.
06:53
– There it is that’s the growth.
06:55
– so let’s talk about maybe at 15 transactions
06:57
and 36 transactions what did your schedule look like
06:59
and what did your schedule look like year one?
07:02
Let’s go ladies first, can you process that real quick?
07:04
– Year one, I don’t think year one
07:06
is anything we would want to replicate.
07:07
– No, so let’s talk about.
07:10
Yeah let’s talk about what we did in 15 transactions and 36?
07:11
– Yeah well I mean you have a schedule,
07:13
you’re running a business, you show up, you get up.
07:14
I am an athlete so I get up, I exercise.
07:18
I fill my mind with something positive,
07:20
even if it’s just reading for five minutes.
07:22
Write everything I’m grateful for,
07:25
send it to my real estate coach.
07:26
And just that act alone, honestly like I can track
07:29
on the dates on my gratitude journal
07:31
when I’m not doing it and what happens with my business.
07:33
So that’s a huge thing for me and then showing up,
07:36
prospecting for an hour, doing all of the things
07:38
that drives business to you first.
07:39
– Okay you just talked about,
07:41
morning routine and prospecting.
07:42
– She did it all.
07:44
– Yeah I mean if everyone watching just shut it off
07:46
and just said I’m gonna do that for the rest of my life.
07:48
They would retire from real estate, they would be just fine.
07:50
So break it down for me,
07:53
who were you prospecting?
07:54
– My sphere initially because that’s all I had.
07:58
‘Cause I didn’t have past clients
08:00
or they had just bought their house.
08:02
– All five of them.
08:03
– Yeah all five of them, so database also Facebook groups.
08:06
I was running a smaller business
08:09
but I was really influential inside Facebook groups
08:11
and that really helped me, so social media was huge.
08:14
Just being of service, servants heart.
08:15
– So talk to us about what you said to people in year two
08:21
and year three, I mean in your sphere.
08:23
Right and you call me, we have contacts,
08:25
kids, life, whatever, you’re an athlete, I’m an athlete.
08:28
Ring, ring, ring, hello?
08:30
– Hey Tom, how are you doing?
08:31
– Is this Anne ?
08:32
– This is Anne Schreiber.
08:34
– Oh my god Anne , how are you?
08:35
– I’m great, how are you?
08:37
– I’m doing outstanding, what’s going on?
08:39
– Well I don’t know if you’ve been seeing online.
08:41
I know we’re friends on Facebook and I’ve made a big change
08:42
for my family and I started a real estate company.
08:46
And we’re selling real estate now,
08:47
I just wanted to be sure you were aware of that.
08:48
– Congratulations!
08:49
– Thank you very much.
08:51
– Okay so I gotta be honest,
08:52
is everyone in San Diego now in real estate?
08:54
– Well it wasn’t then but maybe.
08:55
But you know me, we’ve had a good history together.
08:59
You know that everything I go after
09:00
I go after with a 1000% and I just want
09:02
to be your trusted advisor in real estate.
09:04
I’ve invested a lot of time, energy and money
09:07
and coached by one of the top coaching company
09:10
in the world for real estate.
09:13
– Such a powerful note there.
09:15
– And I’m exposed to all kinds of information
09:19
that could be of great use to you whether
09:23
you want to refinance your home,
09:27
or you’re looking into what you wAnne a renovate.
09:28
I meet and see clients every single day
09:29
and if you’re thinking about doing a kitchen remodel
09:32
you wAnne a talk to a real estate agent before you do that.
09:34
– I gotta stop, if you’re watching this right now.
09:37
If that was in year two and she’s coming out of the gate.
09:39
You can hear her passion, you can hear her confidence.
09:42
And obviously you’ve been doing this now
09:43
for an illustrious six years but when you say those
09:47
kinds of things it fires up the person on the other end.
09:50
What was some of the objections you got early?
09:54
– Okay thanks.
09:56
– Yeah, ’cause they don’t know you,
09:58
right because they don’t have a need at this time.
10:01
They’re not rejecting you they just
10:02
don’t need your service at this time.
10:04
How did that “rejection” make you feel?
10:06
– Well then I felt very rejected
10:09
and I felt it was personal and my coach would say to me,
10:11
“What are you hallucinating now Anne ?”
10:14
And now I know, now you know I have a lot to offer.
10:18
I am going inside homes every single day.
10:21
– I like that passion!
10:22
– Yeah, yeah, yeah.
10:24
– I help people make decisions every single day.
10:25
You can make a really big, wrong expensive turn.
10:27
– Yes.
10:28
– In a lot of different things.
10:29
Whether you’re buying a new home construction
10:31
without the consults of a real estate agent.
10:33
Doing upgrades, whatever you’re doing, getting a loan.
10:35
And it would be really unwise not to speak
10:38
with someone that’s in that industry everyday.
10:39
If I wanted to go learn how to rock climb,
10:41
I wouldn’t try to go do it on my own.
10:43
– Yeah you’re not gonna cut your own hair.
10:44
– No.
10:46
– So I think again if you’re watching this right now,
10:48
both Jeremy and I are sitting here
10:49
and we’re going yeah, right.
10:51
– That’s good energy absolutely.
10:52
– See when you’re new to the business,
10:53
if you come across like a new agent, it’s okay.
10:56
You just won’t be an agent for long.
10:58
Right, you have to have a swagger, a bravado, a confidence.
11:01
– You know how to say it.
11:03
– 61 transactions what did your schedule look like?
11:05
– Schedule definitely have a morning routine.
11:08
That’s probably very cliche sounding.
11:09
– It is but it’s okay, so for the ones
11:11
that don’t understand it, what does it mean?
11:13
I believe if you win the morning you win the day.
11:15
And I didn’t know that at the beginning
11:17
but I absolutely mathematically saw that play out.
11:19
That if I won the morning,
11:21
if I had a morning routine.
11:23
I mean I don’t think a morning routine
11:25
has to be specific to anybody.
11:27
– [Tom] No.
11:28
– I mean some people like to read,
11:29
some people like to jump up and down,
11:30
some people like to swim but your intentionally
11:32
saying I’m gonna win the morning.
11:32
And you’re intentionally saying I’m not gonna
11:34
do morning appointments and I’m not gonna
11:36
be a desperate real estate agent.
11:37
I’m gonna control my life and I’m gonna control my schedule.
11:40
But one thing my coach said in the beginning
11:41
which is really interesting and I probably
11:43
thought about this more than any.
11:45
Is we sat down and he said,
11:47
“Design the business based upon what you’re best at.”
11:49
And so yeah new agents watching this
11:51
there’s a plethora of different kinds of people
11:53
that are going to enter this space.
11:56
And so yeah we sold 61 houses our first year
11:58
but that was a very calculated plan.
12:00
Like we really knew how to get there.
12:03
– You knew who you were going after,
12:04
what you had to say, what you had to send.
12:06
– And then golden thing and I think anyone watching this,
12:10
when you design your business plan
12:11
and you say this is what I’m gonna do,
12:14
this is how long it’s gonna take to get there.
12:15
What changed my business is I knew my daily number.
12:17
It completely changed my business.
12:20
So what’s a daily number, I knew that a certain
12:23
conversation would lead to a contract,
12:25
I know a certain contract would lead to a certain closing.
12:27
And mathematically would repeat to my goal.
12:30
And that’s really simple totally mathematical.
12:32
– Totally basic, that’s a business plan.
12:33
– Yeah so you drill back to your daily number
12:35
and I don’t care if you’re one day in the business
12:37
or a hundred years in the business.
12:38
I think that principle remains of knowing
12:40
that number because then it’s just math.
12:42
– We have clients today that, I was just with Tom Toole.
12:45
Every 17 conversations I have a closing
12:47
and you go to the person next to him
12:50
every 63 conversation I get a closing.
12:52
So we know the business is math
12:55
and you can watch previous Tom Ferry
12:56
shows to get the exact formula.
12:58
You made very calculated decisions in terms
13:01
of who you were going to go after.
13:02
– Absolutely.
13:04
– Anne was calling her sphere and working
13:05
those relationships what did you do?
13:07
– When we set up the business plan,
13:09
in order to do the amount I wanted to do
13:11
we knew we had to at least have four pillar.
13:13
We’d have four income sources.
13:15
So we picked expires, we picked for sale by owner,
13:17
open houses and I didn’t have sphere
13:19
which was really weird because I was in a brand new market.
13:23
So I was going cold turkey which arguably
13:24
I think taught me a really interesting skill
13:27
of being able to have some really ugly rejections.
13:30
– Yes.
13:31
– But knowing.
13:32
– Yeah think about no sphere.
13:34
– Yeah no sphere but knowing that we needed
13:36
at least four pillars and so take that understanding
13:38
and then compare it to someone that gets in the business
13:42
and just wets the finger and say I’m gonna sell a house.
13:45
Take that scenario which is that, that’s two worlds.
13:47
– 100%
13:49
– And that’s like two trajectories.
13:51
– Okay so let’s talk, so you had very specific.
13:53
I mean you demonstrated your skills.
13:56
It’s clear if you’re gonna go
13:58
expiress and for sale by owners
13:59
and open houses as an example.
14:00
Those are very specific skills,
14:02
how do the two of you develop the skill
14:04
and then I wAnne a talk specifically about the listing
14:07
presentation as well but skill.
14:10
How did you develop these skills?
14:11
– Role playing.
14:13
– Practice and role playing.
14:14
– But no one likes to do that.
14:16
I got into real estate because I want freedom.
14:17
– That’s a recorded people.
14:19
– You have to role play.
14:20
– Yeah.
14:21
– You have too.
14:23
– I don’t have to role play, talk to them.
14:25
– What happens is you practice on your customers.
14:26
– Bingo.
14:28
– That’s what happens is you role play on the people
14:29
that you so desperately need a transaction from.
14:31
You role play on them so back off that.
14:33
– [Tom] That’s expensive.
14:35
– It’s the worst that you can do.
14:37
Role play with people that are willing to say,
14:38
hey that was a terrible, you said that terrible.
14:40
‘Cause what does pipe say 96% or 94% is how you say it.
14:42
– The way you move your body
14:43
– What’s your energy? – And your tonality.
14:46
Versus the word seven percent.
14:48
– Correct so drilling that back down
14:49
that’s a business plan and that’s a key piece of it.
14:51
– So how much starting at the beginning,
14:53
how much did, they can download scripts from my site
14:56
from a myriad of just go to Google and type
14:58
real estate scripts something will show up, I don’t care.
15:01
How much time did you spend practicing?
15:04
How much time did you spend practicing
15:05
in the beginning and maybe today?
15:07
– I didn’t spend as much time as I should have
15:09
in the beginning and I still don’t.
15:11
If I’m gonna be 100% honest and just listening to him
15:13
and I wasn’t as strategic, I had little kids,
15:16
I didn’t have any money, I mean there was a lot
15:18
of other barriers but I could have sold a lot more.
15:20
And I still could sell a lot more if I spent more time
15:22
on that and it is totally my cross to bear.
15:25
I’ll be just a hundred percent honest,
15:26
but I do listen when I hear people.
15:29
Where I’m like ugh, it’s like a verbal ninja move,
15:32
then I record it and I listen to it.
15:34
I’m just somebody if I had an outline,
15:36
you have to have your objections and then your train
15:39
of thought basically that’s gonna split off of that.
15:42
So if it’s this objection, this objection,
15:44
this objection or this objection.
15:45
How am I gonna handle it based
15:47
on the personality in front of me.
15:49
– Bingo.
15:50
That sounds pretty calculated.
15:51
– Well it is but I’m like 10% in honestly.
15:53
I’m upping my game this year.
15:57
– Okay this was made public on The Tom Ferry Show,
16:02
so here we go.
16:04
So role playing and listen we live in a world today
16:08
where the vast majority of people are going to relate
16:11
to what you just said.
16:13
And they’re gonna look at Jeremy and go ah, ah, ah, right.
16:15
But here’s the thing right,
16:17
so they both got there, one got there in year one.
16:21
One got there in year five, right.
16:24
– Yeah.
16:25
– And skills matter, right.
16:27
What you say matters, confidence matters.
16:29
You have so much natural bravado and charisma
16:32
and likability, right, he and I just lack that.
16:35
So you’re gonna win in that game,
16:37
right we have to work on this.
16:39
– She sold six houses in San Diego now,
16:41
right, I think it’s working.
16:42
– Yeah I think that they would
16:43
both like to switch average sales,
16:45
well maybe you don’t want to switch to his sales price.
16:47
– Talk about the listening presentation
16:48
’cause the vast majority of agents they’re told this myth.
16:50
Let buyers finance your listing learning curve.
16:54
And they think they can go out with buyers
16:56
and not with these skills and most of them think
16:58
taking a listing is kinda scary.
17:00
What would be some hacks or tricks or tips
17:02
that you would recommend to our listeners
17:04
for them to up their listing presentation?
17:06
Whether it’s what shows up before they get there?
17:08
What they do while they’re there?
17:10
What they leave behind?
17:11
What have you found, ’cause let’s assume they all have one.
17:14
But what are some things that you’ve done
17:15
that have made it special and unique so you win more?
17:18
– Well it’s hard when you first starting,
17:21
but once you have listings, if you’re doing your job right
17:24
some personality types really like data.
17:26
So I pull my list to sell ratio,
17:28
I pull my cancellations and expires compared
17:31
to other people and that’s really all that’s gonna
17:34
speak to one personality type.
17:35
So one of the coaches I had would say you have your
17:39
magic bag of things that you pull out for whatever you need.
17:42
– Felix the cat, remember Felix the cat.
17:44
Some of you have to Google that.
17:46
– We like Felix.
17:47
– Right, yeah the bag of tricks.
17:49
– The bag of tricks.
17:50
– So for the high analytical you’re bringing data.
17:52
– Yeah it’s all about knowing the person sitting
17:55
in front of you and what kinds of questions they’re asking
17:58
and what they’re personality type is in trying to present
18:00
in a manner that is reflective of those eyeballs.
18:06
Which is really hard when you first start.
18:08
So I think it’s mostly about asking the right questions.
18:11
That’s how I got off to a good start
18:13
I think ’cause I asked a lot of questions
18:15
and then I would repeat their answers.
18:18
So Mr. Seller, Mr. Ferry you’ve mentioned
18:21
that you want to be gone and.
18:23
– She goes right into the role play.
18:25
– You mentioned that you want to sell your home
18:27
for the most amount of money in the shortest amount of time
18:29
without any hassles and I want to give you all
18:31
three of those but if you have to prioritize
18:32
them how might you do that?
18:35
– I deal with some hassles if I got
18:36
the most amount of money.
18:37
– Okay and that tells you right away like how you’re
18:40
gonna prioritize what you’re gonna give back to them.
18:43
– Yes and also maybe pricing, pricing options, right.
18:46
Are we gonna create a bidding war
18:49
or are we gonna put it at the highest
18:51
possible price and hope and pray.
18:52
So I like that personality types is super big.
18:54
Is their anything else that you show or deliver
18:58
at an appointment that you’re just like oh that’s
19:01
what’s getting them right now.
19:02
I don’t mean getting them in a bad,
19:04
I mean that’s what gets people excited, right.
19:06
Jeremy you go and them come back, what about yourself?
19:09
– Can we talk about the failure ratio in real estate?
19:12
– Sure, please.
19:14
– Is that a bad thing to talk about on the Tom Ferry show?
19:16
– I talk about it all the time.
19:17
– So as a new agent, what they say 87% fail
19:19
in the first five years and for me I believe
19:22
the reason for that but what I saw was real estate agents
19:25
think they’re gonna show houses in their nice cars
19:27
but they forget that they’re sales people.
19:30
– Yes.
19:31
– And if you’re not a sales person
19:33
and don’t hone your skills and actually have a sales process
19:35
not a, I don’t wAnne a talk about cars.
19:38
But you can’t be cheese but you are a sales person.
19:40
You have to sell a product, whether you’re selling you,
19:42
you’re selling your past sales.
19:44
You’re selling your family, what you’ve done
19:47
in the community, you’re selling.
19:48
And so I knew that going in the business
19:50
and so how I did it is I found a listening presentation
19:52
that I liked from an agent in Texas I believe.
19:54
And I had my coach call the agent and say how much money
19:58
you’re going to have to pay you to give me the
20:00
Adobe PDF version and he said just email to me.
20:03
And I clicked and changed my logo and put my pictures
20:06
in and three days later I had a listening presentation.
20:09
– We call that R and D, Rip-off and Duplicate.
20:12
– But it didn’t cost me a dime
20:13
but the cool thing was is I actually had a now
20:15
24 page document and I looked pretty swag.
20:18
And we had not sold a house,
20:20
I had not sold a single house but we were going
20:23
in and saying hey myself, my team and my brokerage
20:26
and my city ’cause I had no past sales.
20:28
I had to add my brokerage in the mix.
20:30
– Yup of course.
20:31
– We sold 77 homes.
20:33
– Key distinction for a brand new agent.
20:34
– Yeah I mean if you have no past sales,
20:36
you have to tell the truth but you can bring
20:38
your brokerage in and say hey,
20:40
we have the highest producing team brokerage.
20:41
We had 77 closings in March,
20:43
Mr and Mrs. Seller how does that make you feel?
20:44
We’re really doing great things in your community
20:46
by the way this is how we get those results.
20:48
– And when you list your home with me
20:50
I’m gonna put the power of this team to work for you.
20:51
– Absolutely but if you don’t have a listing presentation
20:53
if you haven’t practiced, if you haven’t role played
20:54
and you have a little swagger, you’re selling yourself.
20:56
And if you don’t learn how to sell yourself 87% catch you.
21:00
– Oh yeah.
21:01
– That’s a huge statistic.
21:02
– That’s a big number, it’s 90% failure rate
21:04
in all small businesses after 10 years.
21:06
So 87% in real estate is not a shocker
21:09
especially concerning most people go in saying
21:11
well I just like people in houses.
21:13
Versus wait a minute this is the person’s most expensive
21:17
asset, I have a fiduciary responsibility to be really good.
21:20
The way you were saying, there’s a million mistakes
21:24
you can make along the way and I want to protect you.
21:26
You’re a friend I wanna a take care of you.
21:28
So any other hacks on listening presentation.
21:30
– I don’t know that it’s like a great catchy hack
21:34
but I think what you said, really matters in terms
21:38
of you saw something you liked and you knew
21:40
you could sell that and so you went to get that.
21:42
So it doesn’t really matter I don’t think,
21:45
it’s just having the confidence behind it.
21:46
My sales manager and my coach said you’re an information
21:50
broker, you need to know your market better than anyone
21:52
else and when you have that you’re not as worried.
21:56
Well the first couple times you are
21:58
until you’re like wait I really know this and I know
22:00
it better than half the agents I’m talking to.
22:02
– Yes.
22:03
– Confidence just goes through the roof.
22:04
– So then you have passion, like you can really mess
22:06
up here, like you need me and you don’t feel that
22:09
until you feel it and so the only way to get
22:12
that is to go and see a ton of property
22:14
and have a lot of conversations.
22:16
And pick whatever you’re gonna like.
22:17
It doesn’t really matter what it is just
22:19
as long as you got passion behind it right.
22:22
– Right, I’ve seen that a thousand times with agents,
22:25
they’re like you know what it is right now staging.
22:28
Oh my God I’ve got this and you see them light up
22:31
and I’m like staging’s been around for 20 years.
22:34
But they just found a stager.
22:36
– And they sold it.
22:38
– I have this video app that absolutely makes your home.
22:41
– And people disconnect to it.
22:43
– Exactly, so you gotta find something
22:45
you’re passionate about selling.
22:47
And if your presentation doesn’t get you fired up
22:49
it’s not gonna get the clients fired up, right.
22:50
– That should be a tweet.
22:52
– Exactly, we need to tweet that.
22:53
Looking at the social media queen.
22:56
All right, so any closing thoughts.
22:58
You know my hope is that a hundred thousand new agents
23:01
watch this in the next 35, 40 days.
23:04
– It’s an awesome industry.
23:05
– There’s so many people watching this
23:07
so what’s the one sort of closing thought
23:09
about what they can do, some motivation,
23:12
mindset, whatever you want to share, wish them well.
23:15
– If he can do it I can do it.
23:18
I just didn’t decide to do it the right way
23:21
but I’m still here and I have an opportunity
23:24
to go for next year and if they can do it you can do it.
23:27
That really is all it is, you have to have a big why.
23:29
I had a huge why you know.
23:31
– Speak to that.
23:33
– Well when you don’t have any money
23:35
and you have to go be your own miracle for your family
23:37
you just do period and you need something.
23:40
You need a reason why you’re doing this
23:42
and why you’re gonna go hustle ’cause it is relentless
23:44
and it does break you down unbelievably.
23:46
You have to be tough and resilient and bounce back
23:49
up really fast and you have to have people around
23:51
you, like you that will help you.
23:54
And that you’re pouring into your mind every single day
23:57
and I would also say fight for your culture.
23:59
That was a big thing my coach was really,
24:02
it took me awhile to see that until
24:04
I let some people off of the team that didn’t belong.
24:08
And then I really saw like this can really oh wow
24:10
this can really happen, it’s not just special for them.
24:13
It’s not just special for them,
24:14
they just fought for their culture.
24:15
And that’s kinda further down the line
24:18
but fight for your own culture first and then
24:19
the people you bring into your universe.
24:21
– And fight for your family right?
24:22
– Yes exactly.
24:23
– Closing thoughts?
24:24
– I think the parting thought I would have is what
24:25
a terrible thing it would be in my opinion
24:28
to have a listening presentation.
24:29
To put all this energy into it,
24:31
create a business plans and then miss I think the most
24:32
the most important step and that’s to be extremely genuine.
24:36
– [Tom] Yeah.
24:37
– You have to be so genuine with people,
24:39
if you don’t care about people and don’t have commission
24:41
breadth if you’re a new agent.
24:43
Just put it aside, if you can be genuine
24:45
all of the other stuff that you have comes alive.
24:47
Your listening presentation comes alive,
24:49
who you are, what you’re doing.
24:51
If you care about them truly from the heart you’ll win.
24:53
– Can’t say it any better than that, you guys were amazing.
24:56
Thank you so much for watching,
24:57
remember always your strategy matters and now
24:59
more than ever your passion rules.
25:00
And if you know someone that is less than five years
25:03
in the business forward this to them immediately.
25:05
And they will know that you love them.
25:07
All right see you guys soon.
25:09
Hey it’s coach Tom Ferry,
25:11
have you been considering hiring a coach?
25:13
If so click the link below and check out what we do.
25:16
(instrumental music)
Categories
Videos

How To Invest In Real Estate: A Guide For Beginners

Transcript

00:00
Have you ever wondered how real estate investing works?
00:02
It’s an important question.
00:04
Among houses, apartments, offices, hotels, and industrial buildings, there’s over
00:10
$35 trillion invested in real estate.
00:14
But how does real estate investing really work?
00:16
Fortunately, the basics are pretty straightforward.
00:19
Let’s look at a simple example.
00:21
Imagine you purchase a house for $500,000, which you plan to rent to tenants.
00:27
Typically, for a $500,000 property, your investment includes a 20% down payment — $100,000 —
00:34
and an 80% mortgage — $400,000.
00:37
We call this $100,000 of equity and $400,000 of debt.
00:42
To simplify the math, ignore closing costs for now.
00:46
Congratulations, you own a rental property!
00:50
Now what?
00:51
Find your tenants!
00:52
There’s a similar, nearby house that rents for $2,500 a month.
00:58
You match that — that’s $30,000 a year, in gross rental income.
01:03
Once the cash is flowing, your total return is that amount, minus expenses and mortgage interest…
01:08
…plus the change in your property’s value over time.
01:13
Let’s walk through that in more detail: You have to pay your property taxes and insurance,
01:17
as well as some ongoing operating and maintenance costs.
01:21
Let’s say, $5,000.
01:23
Mortgage interest is your other major expense.
01:26
Your $400,000 mortgage might have a 4.5% interest rate: that’s another $18,000 in costs.
01:34
So, $7,000 a year in residual income.
01:38
$7,000 divided by your $100,000 investment equals a 7% annual return in cash flow.
01:46
For simplification, we’re ignoring things like income tax and depreciation.
01:50
But there’s more than just cash flow.
01:53
You can also benefit from potential appreciation in both the rent and property value.
01:58
The industry rule of thumb is 3% per year of appreciation.
02:03
Altogether, you might make 7% a year in rent and 3% in appreciation.
02:08
That’s a 10% annual return over the long term.
02:12
For comparison, the stock market has an average historical return of about 8% return a year.
02:17
In fact, real estate has outperformed stocks over the past 30 to 40 years.
02:22
…But not everyone has the time or money to be a landlord.
02:26
That’s why Fundrise has built the first easy to use, online platform for real estate investing.
02:32
Imagine getting all the benefits of owning real estate directly but at a fraction of
02:37
the cost and without the work.
02:39
You can learn more about getting started with real estate investing today at fundrise.com.
Categories
Videos

Real Estate Tips for New Agents – Guide to MASSIVE Success

Transcript

00:01
[Music]
00:03
hello everybody brian kocel here bc your
00:06
real-estate source in southern
00:08
california by the way if you have any
00:09
referrals for the Southern California
00:11
area my team now services a huge huge
00:15
market area go ahead and reach out to me
00:17
we’d be happy to service all your
00:18
referrals and we will pay you a good
00:20
referral fee so let’s get into this
00:21
video real estate tips for new agents
00:24
right and I want to start a series right
00:26
now that’s really going to help you
00:27
whether you’re a new agent or not I know
00:28
I do attract a lot of newer agents
00:30
because I’m younger compared to the
00:32
average realtor so I wanted to make a
00:34
series specifically geared towards you
00:35
guys and or anybody in the business
00:38
world or real estate world looking to up
00:39
their game and step it up right now the
00:42
first tip is going to be very simple and
00:44
this is the way I’m going to rake it
00:45
down for you guys is when you’re new you
00:47
can at times feel overwhelmed you feel
00:50
like there’s so much to learn and
00:51
there’s not enough time and you’re kind
00:53
of like pulled in 30 or 40 different
00:55
ways so I’m going to give you a quick
00:57
tip that’s going to help you with that
00:58
and help you master key areas of real
01:02
estate that are important and then help
01:03
you move forward all right number one
01:04
you’re going to have to remember that no
01:07
matter how much you learn and how
01:09
quickly you learn it a lot of what you
01:11
go through and a lot of what you learn
01:13
and knowledge that you’re going to in
01:15
wisdom I guess you can say that you’re
01:17
going to have later on it’s going to
01:18
come down to experience right experience
01:21
is going to be your best teacher in a
01:22
lot of cases however a lot of what you
01:25
you you see in need just the confidence
01:27
the calmness a certainty a lot of that
01:30
ash actually has come from experience
01:32
okay I know it’s kind of a tough pill to
01:35
swallow at this point in your career
01:37
because you knew however keep in mind
01:39
that no matter how good you get for
01:41
example at role playing you’re going to
01:43
have to go on some listing presentations
01:44
to get that experience under your belt
01:45
and full confidence all right so that
01:47
has to be in the back of your mind as
01:49
you do have to pay your dues so
01:50
experience alright number two this is
01:52
what you need to focus on guys you need
01:53
to focus on picking one area and
01:56
mastering it now as a new agent I’m
01:58
always going to recommend that your
02:00
scripts and dialogues and your
02:01
communication with clients and possible
02:04
prospects yeah that back and forth
02:06
motion of communication is what you have
02:08
to focus on
02:10
absolutely master to the degree that you
02:13
know how to communicate effectively
02:14
powerfully emotionally of course backed
02:17
up with logic and logical communication
02:19
to to that same degree is going to
02:21
propel you ahead of other agents the
02:23
biggest missing ingredient in this
02:25
industry is proper and effective sales
02:28
training most brokers when you show up
02:30
they’re like there’s your desk there’s
02:31
your phone get to work
02:33
this is missed your ability to be an
02:36
effective communicator will determine
02:38
your success and how long it will take
02:40
all right
02:41
most of the people that I know that are
02:43
top producers or great agents are great
02:46
communicators ok so how can we take this
02:50
data and apply it right now as a new
02:52
agent or somebody looking to set up the
02:53
game I always recommend you pick a
02:55
script or a system to follow as far as
02:58
dialogues that’s up to you we started
03:00
with Mike Ferry and Kevin ward however
03:02
you can dig fearless agent Moreno
03:04
whoever else that you want that’s up to
03:06
however pick one book one system one set
03:08
of scripts and presentations and stick
03:10
to it right don’t make your own little
03:12
changes to it stick to it all right and
03:14
learn it and master it so what I did and
03:17
I’ll walk you through that’s going to
03:18
help you is I take the script book I
03:20
started with my fairy and I mastered
03:22
that thing I think the expired script
03:25
master it I picked the first Sale By
03:26
Owner script mastered it
03:28
I picked the listing presentation
03:29
mastered it I got all the comment
03:31
objection handlers that you can get for
03:33
free from them and all the script book
03:34
mastered it I literally I literally
03:37
could be called at 3:00 in the morning
03:39
you can ask me hate with lines three on
03:41
the expired script boom I knew it right
03:44
listing presentation what’s the first
03:46
line of the second portion second
03:47
paragraph boom I knew it that is what
03:50
I’m talking about so for you pick the
03:53
first script pick the expired script and
03:54
drill it with people memorize it go in
03:57
the mayor and say to yourself and has
03:58
that thing internalized and memorized
04:01
and then once you have that one down
04:02
boom go to the for sale by owner then go
04:04
to the just listed script just sold
04:06
script listing presentation
04:08
pre-qualification by your presentation
04:10
whatever it is pick one master it and
04:13
then move on your ability to small chunk
04:15
this thing this whole book into little
04:18
bite-sized chunks and mastering it will
04:20
make it so so much easier edition
04:23
we stretch yourself push yourself
04:25
outside of your comfort zone I used to
04:28
do listing presentations in front of my
04:29
old office in front of 60 or 70 agents
04:32
imagine the nerves the emotions that
04:35
come up when you do that now do it over
04:37
and over and over and over again and
04:40
guess what now 2 or 3 weeks later when
04:42
you have that first listing presentation
04:44
in front of the seller it’s easy you’re
04:46
like wow this is so much easier than
04:47
doing it in front of 70 people you see
04:50
make your practice tougher in the game
04:53
right think of a professional athlete
04:55
they practice 15 20 hours a week for a
04:58
one-hour game do the same thing take
05:00
that same mindset that I did from sports
05:02
and apply it into real estate and you
05:05
will kick some serious ass ladies and
05:07
gentlemen for sure
05:09
all right next step after you master
05:11
that and you have that would be to
05:12
invest either in a coach products
05:14
services or whatever but first you want
05:17
to take this and master it right second
05:19
step would be to invest in yourself like
05:21
I did I’m spending you know 30 40 50
05:23
thousand dollars a year or more
05:24
investing in myself right that steps to
05:26
step 1 get the basics master the scripts
05:28
okay and when you do that guys the rest
05:31
of your career will become easy and
05:32
these next couple videos that I make are
05:34
really going to help get into your head
05:35
and give you the right framework and
05:37
path in order for you to be successful
05:38
not only successful in real estate
05:41
however you can get quick success all
05:43
right so thank you guys for watching
05:44
video 1 don’t forget to smash that like
05:45
button subscribe to channel if you
05:47
haven’t already in the link below you
05:49
have a link to my website my product
05:51
section my services and all that stuff
05:53
you guys can look through that if you
05:54
want to invest feel free email me and
05:57
let me know alright I’ll see you guys on
05:58
the next video
06:00
[Music]