Looking to Buy, Sell or Invest in Real Estate
INTRODUCTION:
To continue to fuel yourself forward as you grow in your business, you must continue to LEARN. This training program will cover different areas within the REAL ESTATE INDUSTRY. Everyone operates differently, and each training is designed to be informative and transferable to your own business to ensure it's a success.
OVERVIEW:
Rio Vidrio is an agent at A.Z. & Associates and has several popular and successful podcasts. Starting out in Real Estate less than three years ago, Rio didn't foresee the success his business would have by recording live video and starting his first podcast eight months ago. This training with A.Z. and Rio cover how to get you started in the direction of having your podcast and the experience, hardware, and software required to move you forward.
POINTS TO CONSIDER:
- Podcasting has completely shifted my perspective on how to communicate a message and market my brand while continuing to be at the forefront of our clientele base. It provides the value of real-life experiences, sharing what is going on in your life from your viewpoint. That hones in your skills on how to speak and communicate effectively; adding a new dimension to your branding.
- When you do a podcast will view you as a different entity; a professional, the personal element, the podcaster, the video person, and it is crucial in today's market to add this dimension. If you take this seriously and commit to doing it, your business will be altered from this point forward.
- Rio Vidrio was an individual that took the idea of Podcasting and ran with it. How did he decide to start Podcasting? Initially, it began with Rio and his partner Jesse Abarca, Dos Bros in a Pod, even though they didn't know each other that well. They shared an office, they got along well and had great stories, so they decided a podcast would be a great way to showcase that.
- They agreed to start the Podcast as part of their 12-week targets. They have experienced growth as a team and as individuals. From that, they began their Podcasts marketing their brands. When you start to do the podcasts, it won't be comfortable or easy, but you will see the progression and transformation in a year.
- Conditioning yourself to do a Podcast before starting can be helpful. Spending money on equipment can be costly when you haven't done the reps to be successful. Part of creating your Podcast should be committing to shooting selfie videos every day. You need to be speaking every day, it doesn't have to be good; it just needs to be done. You will get better each time you put yourself out there.
- Deliver a message and command that authority; you don't have to ask permission, do it. Having a natural conversation is much easier than trying to recall a scripted exchange. If you want to take Podcasting seriously, you need to take the initial steps of doing the reps on Facebook live. It will condition you, or you will eventually run into a roadblock of not knowing what to say; it allows you to think off of the cuff and bring up examples in the moment.
- Set a target to do Facebook live videos, every day for 30 to 90 days. Use the people and elements around you for support and inspiration. Your confidence on camera will increase; you will find your groove and develop a style. Set your foundation by doing the live videos and invest the time, because Podcasting can be a considerable investment.
- Consistency is key; taking a day off from doing them causes you to lose that momentum you are trying to create. Podcasting has given Rio authority in that space of his business. It is professional and more appealing to clients. There is less resistance when they feel they know you because they see you every day on Facebook or your Podcast.
GETTING STARTED:
- If you have been considering doing a Podcast, it is about moving forward; you will have to pay through sweat equity, which is the reps on the selfie videos. The way we do Podcasts is we go live; we don't have scripts. It is off the cuff; there is no second take; it's who you are in the most real and rawest form.
- We go live on Facebook, and then repurpose that audio on the podcast. Then we take the video and use segments to promote on Facebook. That is the key to this; you take one piece of content, and you repurpose it through the other channels.
- Podcast by definition is audio and meant to listen too and not watched; the fact that you can incorporate a video at a high-quality level gives you the content you can use in so many ways. Your content takes time and effort to create so go ahead and blast it out there across the board. Anybody can create a podcast with some headphones and plug it into your computer, but if people see that will they perceive you as an authority? You need to show that you are taking the time, making an effort, and spending the money to do it.
- You can start by purchasing a mic and recording onto your laptop, that is it in it's purest form. We have taken it to a whole new level. You want to be doing what the successful podcasters are doing, not be ten steps behind. We are going to provide for you the equipment you need and the step-by-step on how to start your podcast.
- You will have issues that come up along the way, no matter how long you have been doing it. Youtube will become your best friend while learning to use all of the equipment.
THE EQUIPMENT:
SETTING IT UP:
- You are going to connect the XLR CABLE to the ZOOM and your computer. If you have an auxiliary mic, also you will hook that up to your ZOOM. If you are recording video connect your camera to the BLACK MAGIC, MAGEWELL or if either of those doesn't work you can use a workaround.
- You will utilize the OBS and use a background or not. You can take an image of a house that you have sold and have that as a background for the podcast that week. Click on sources>add>then select image that you want. You can layer images by putting the image at the back and then add yourself in the front of a green screen. It takes practice, and once you get comfortable with it, you can do many different layers of backgrounds. The OBS allows a screen capture of whatever is on your computer so your audience can see it also. The audio is hooked up through the ZOOM to the laptop, the video is hooked into the computer, and the OBS meshes it all together.
- You need to attempt to do this on your own, and if you get stuck, we are here to help you get going again. We aren't going to come, set it up for you; you need to take that initiative and give it a try. Start with the podcast first and we will do additional training on step-by-step how to's on Libsyn and how to get your video to Facebook.
STRATEGY: DON'T
- DON'T: Don't focus on getting your content on video at first. Purchase a ZOOM H6 and start recording and using the Libsyn and OBS software. The video will come later.
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DON’T: Don't start a Podcast without first committing to doing the reps through live videos on a daily basis. A podcast is a commitment and most podcasters stop after recording 12 episodes. Don't be a statistic.
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DONT: Don't think you have to be technically savvy to accomplish this. You need to be committed to learning it, that is all it is.
STRATEGY: DO
- DO: Do invest in a good microphone. Great sound quality will draw your listeners in. If they can't hear you they will turn you off.
- DO: Do use YouTube to help you through some of the technical processes and ask questions from your fellow agents that are already in the Podcast game.
You can take what you record on Facebook and use that as your podcast?
- Yes. When you record on Facebook it is automatically saved to your laptop as a high quality video, you can put that on Youtube, track the audio and release that as your podcast. You have 3 platforms you can hit with that one episode.
Are backgrounds on a podcast that contain images distracting for the listener?
- Most people enjoy looking at a still image; something that is moving or changing would be more distracting.
Do you usually tie the Facebook live into Instagram?
- Yes you can shoot a quick video announcing that you are going live on Facebook and post it on Instagram.
Should you do a Podcast by yourself or have a guest?
- That is up to you and you can change it up. You can do a few on your own and then bring someone on to talk with and share their experiences if you feel that is where you need to go. You will find your way. You will never discover if you are trying to figure it out from where you are right now.
IN REVIEW:
INTRODUCTION:
To continue to fuel yourself forward as you grow in your business, you must continue to LEARN. This training program will cover different areas within the REAL ESTATE INDUSTRY. Everyone operates differently, and each training is designed to be informative and transferable to your own business to ensure it's a success.
OVERVIEW:
Jesse Abarca has spent nearly eight years developing a process that has worked for him to set a proper frame around his clients. Setting yourself apart as the authority is critical, so when it comes to locating a home and facilitating the contract, they know you have the answers to continue to move forward.
POINTS TO CONSIDER:
- The market is always evolving, and it is important to evolve with it. When you first get your license, you are thrown out into the pack, showing a lot of homes. The clients find a house, and usually, have a million questions that have not been addressed. As a realtor, you show a client home and expect to now be their agent.
- Jesse found himself driving from home to home, showing houses with no frame control becoming scattered, stressed out and all over the place. In the process, he lost more clients than he closed. In actuality they were not his clients yet, he made the assumption they were. There was no formal meeting with each other to agree.
- This is why it is essential to set the frame, the expectations, so you are both on the same page. This method of Jesse’s came out of necessity to survive the market he was in. He had to come up with a way to sell more houses and not hesitate to close the sell.
- Getting your client to make an offer has to be part of your process. There are indicators that your buyer is ready because they ask specific questions. What would my payment be? What are the schools like? How would my couch look over in that corner? They visually see themselves in the house.
- Jesse has it down to showing a maximum of 10 houses because in the consultation he sets that frame. You set that frame in the Buyers Consultation, not while you are in the house. Often your buyer needs the guidance and will gravitate towards an agent that gives them the confidence within their authority they are showing.
- There is so much information you gather about your client in the Buyers Consultation. You find out what is important to them, so when you show them a home that has those elements, you can point it out to them. The only way to know the things they are looking for in a home is by asking the right questions in the Buyers Consultation. When you ask those questions in a house, they will think you are trying to increase your dollar signs.
- Jesse never shows houses until he has a Buyers Consultation. If someone calls you and wants to see a house, you need to do everything in your power to get them into the office before you show them that home. Jesse never meets a buyer at a Starbucks; he utilizes his office space. There are too many factors you can't control in a public space. Bring them into your office, that is your domain, your backyard, where you control the game.
- Utilize the offices, reception area, and conference rooms at A.Z. & Associates. Show that you are different
Buyers Consultation should resemble the following:
- Always meet at the Conference Room. Send an email to the receptionist to let her know that you have booked that time.
- Have a Client info sheet ready. This can include Name, address, birthday, anniversary. This makes it easy to follow up with the client with birthday and anniversary cards.
- Your objective is for the client to leave knowing that you are trustworthy, knowledgeable and likable. When they come in ask them why they are considering buying a house. Let them do a lot of the talking initially.
- Jesse will meet a client even if they do not have a pre-approval. He feels if they are willing to drive to the office and meet with him, he will build a relationship with them. Whether they qualify now or 5 months down the road, you have made that connection with them. Maybe they have a friend that is ready to buy now. It is an excellent way to get a referral.
- Ask the Client which website they are using to browse for homes. Zillow, Trulia, RedFin, there are a lot out there. Come from a place of education and explain to them that Zillow is not working for the buyer or the seller. Zillow or any internet platform that has houses there the primary objective is to put someone interested in buying or selling in contact with one of their real estate agents who is paying them.
- A lot of homes on the websites have been sold, and you have to address it. Tell them you will have an MLS search and those are the current homes that are on the market that qualify for the financing they are using. If you don't clarify this, you will have a list from MLS, and they will have one from a website. There is a reason it is not on your MLS. You need to address that point up front.
- Assuming that they are qualified, Jesse is good at steering them to his loan officer. Tell them the reasons you want them to work with your preferred lender. 90% of why a deal can go bad is on the loan officer. If it is someone he doesn’t work with and he can't get a hold of them, they don't return his calls; there is nothing he can do. When they use his loan officer, he is personally vouching for them. As long as they can match the interest rate and the fees, he wants them to go with his loan officer. Again, you are the authority. They are coming to you seeking guidance, and if you tell them with confidence they will be in great hands they will believe you. Things do wrong, but if they go wrong with your loan officer, you will do whatever it takes to fix it. That shows your character.
- Next, you create a search for them. Pull up the MLS and tell them as you start to enter the necessities they are looking for in a home, the number of homes will diminish. Jesse tells them he likes to have 8-16 houses after their criteria have been entered. Set that up beforehand. Fifty options are too many. If there are only four houses that meet their criteria, stress to the client that more than four people are looking for the same things they are in a home, and they may need to be a bit more flexible.
- With one of your goals being to gain your client's trust and see you as the authority, some agents try to sell on their first time out. With Jesse’s framework, he doesn’t do that. Have the client pick the best six houses that they like and then show them to them, if they are qualified. Jesse tells the client he doesn’t want them to buy any of the first homes he shows them. He directs them to step in the home and tell him what they like and don't like about each house. You want to be able to visualize exactly what they are looking for, so when it hits the market, he’ll know. That is the framework he uses. In the morning when he comes in he refreshes their search and if something comes up he thinks they will like, he will call them, get them excited and tell them he thinks he found it. You need to express a sense of urgency.
- If the house is one from the first 6 and meets all of their criteria, he assures them of his knowledge of the market, and that they will not find a closer match than that house; let’s write up an offer. Most clients will always wonder if there is something better out there.
- Anytime you show houses it is a minimum of a 2-hour commitment. By doing the set-up or framework beforehand, you can tell your client not to be surprised if they do find what they are looking for the first time out. Reiterate to the client that if they do like the property, there is no reason to wait. Let’s write it up because you don't want them to lose it.
- During the Buyers Consultation, tell the clients that you will ask them to come to the office two times. One is for the consultation and the second is when we submit an offer. It is effective in keeping deals in escrow to close. A lot of agents like the DocuSign, to not have to go through the contract. Jesse goes through the entire contract when they make the offer. When he goes through the contract, he is storytelling. He gives examples of when things go bad by sharing a horror story from his experience. When you invest that time going through the contract with them, you will avoid all the late night calls when they are panicking about something that could have been addressed up front.
- If the offer isn't accepted and they submit an offer again, they don't have to come to the office again because they have already gone through the entire contract before.
- Jesse gives a hard copy packet to the client when they leave the Buyers Consultation. It shows them he is professional and has a system that he uses. They may not look at it, but they leave with something in hand, and that means something. Packaging is so important, with you as a product and the materials that you supply your client with.
STRATEGY: DON'T
- DON'T: Don't ask what a buyer wants in a home while they are standing in one . Learn to ask the right questions during your Buyers Consultation when the sell of the home is not on the line.
- DON’T: Don't assume that you have a client just by showing them one home. You need to sit down and discuss expectations with a buyer before you begin to work for them.
- DON’T: Don't meet your client in a public space where you can't control the environment. Bring them to your office where you control the game. Make them come to you, they will.
- DON'T: Don't wait too close to ask for a referral. When people are buying a home they are excited, that is when they will have a referral for you because they are telling everyone about their purchase. Strike while the iron is hot.
- DON'T: Don't be so quick to offer part of your commission. You need to relay the information and they will come up with the money. If you continue to give away your money, by the end of the year it adds up. We are the facilitators to find them a home and deliver the keys; it's not up to you to give up your money to finance their purchase.
- DON'T: Don't go missing in action. If you have a question or a problem ask another agent. No one has secrets here. Don't ask for help and then not take action on it though. You don't want to waste another agents time.
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DON'T: Don't send a new client directly to a lender before you even meet with them. It shows them that you only care about the sale and also they are creating a relationship with the lender, and there is no relationship with the agent. It confuses the client on who the lender is and who the agent is.
STRATEGY: DO
- DO: Do reiterate to the client they may find a home the first time you look. If the framework has been set, it is possible. Instill a sense of urgency with the client that if they like the home they shouldn't wait or it could be gone. There is a 10-day inspection period if they should change their mind.
- DO: Do a Buyer Consultation with everyone, even good friends and family. You assume they know what’s up and they don't. You have to treat them as a client regardless. You need to stick to your framework, your process or it will come back to haunt you.
- DO: Do help your client get pre-approved. It is a great opportunity to explain the process to them and further show your authority.
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DO: Do inform your client to refrain from making large purchases; buying a car or trailer can mess up their income to debt ratio and cause the deal to fall through. Anything that you as an agent have experienced that lost a home for a client, share that and check it off your list.
QUESTIONS:
If you have someone that is coming in from out of state, they aren't prequalified, they don't have a car and they want you to show them all of Maricopa County; what would you do?
- Personally, Jesse will refer anything in the East Valley out to another agent. The fact they are coming in from out of state may change his mind because they are on a mission to buy a house. Maybe spend a whole Saturday on the west valley and Sunday on the East Valley. Do the Buyers Consultation where they are at, which is an exception to the rule. Encourage them to also talk to your local lender before they come out, so you know what they qualify for.
Do you talk to the client about new builds when you are doing a Buyer Consultation?
- Typically Jesse does not address new builds, but they are relevant because they are growing in numbers. It is worth discussing to let your client know that you go to new builds as well; tell them to never go without you. If they go there alone, you can't represent them — anything they see with a sign to call you not the listing agent.
If you are at the point where you have enlisted a showing agent, how do incorporate that into the Buyers Consultation?
- Have the showing agent there during the consultation and introduce them as part of the team working for them. It ties in perfectly with the frame because the best houses always sell face. If you are with another client, that is why you have a team member to show you immediately. You will do the contract and negotiation, but it will be a team effort to get the client in to see the house immediately.
How do you get your client to submit their best offer first instead of trying to get a deal?
- If they are low balling, don't submit the offer. Ask them honestly if they are here to buy a house or do you want to submit offers. Address it by telling them you know everyone is looking for a deal; however, the price of the home is right, and you need to be in the ballpark to be considered. If it is recently on the market, you won’t be able to offer too much less. If it has been on the market for quite some time, you may have a better chance of getting a deal. Be honest. Some houses are priced to low, some just right and some are priced too high. The homes that are priced too high are the ones you can submit a lower offer on.
IN REVIEW:
- This is about realizing the objectives of your clients, and it is upsetting when you know the house they want is right in front of them, and they don't pull the trigger. The Buyers Consultation has streamlined the system for Jesse. He highly recommends that agents whether they are new to real estate or a veteran, do a Buyers Consultation; it is non-negotiable.
- What is the one thing that Jesse wants everyone to take from this entire process? Assuming that most of the agents watching are newer agents, the one thing he would drive home is to come to the office, show your face. Don't be working from home, and never go in there to get to know who you are working with. There isn't one tip that Jesse can give you to be successful; it is by being in the office that you will pick up tidbits every single day. Don't be that agent that embarrassed to come in and join us on the run; show up to the office and be around producing agents.
- Jesse’s presentation is available on www.empiremembers.com; he will also supply a checklist of the questions he asks. Take what you have learned and create your own Buyers Consultation list. Be prepared and have a process that you can go over, and it will now be your process.
INTRODUCTION:
To continue to fuel yourself forward as you grow in your business, you must continue to LEARN. This training program will cover different areas within the REAL ESTATE INDUSTRY. Everyone operates differently, and each training is designed to be informative and transferable to your own business to ensure it's a success.
OVERVIEW:
Craig Morton has built a 10 million dollar business and his “SECRET SAUCE” is the Text Hustle. Creating a database and sending texts to 5 to 10 people every single day; not to see if they are ready to sell or by but to check in. Having a form of organization in play is essential when building a business and mastering your follow-up game.
POINTS TO CONSIDER:
STRATEGY: DON'T
- DON'T: Don't Make your Facebook ads about you; make them about your client. Keep it personal to each sale or purchase.
- DON’T: Don't forget about family and friends; you need to keep in touch with the people close to you and not lose that business down the road because of neglecting to keep in touch.
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DON’T: Don't try and shove real estate down people's throats. If you are out with friends and they are trying to talk real estate with you, tell them you want to have fun, and you will call them later when you are in the office. REMEMBER to put it in your phone to call them; by separating personal and business, it makes you non-threatening. Then when you text them, they will text you back because you haven't annoyed them by just talking about real estate.
STRATEGY: DO
- DO: Keep it personal. Look at your client's social media pages to see what they have been up to, and that will be a good step in starting a dialogue through a text. Don't over complicate it or overthink it; treat it as text you would send anyone and keep it going throughout your day.
- DO: Start at the A’s in your phone and work your way through your list if you are starting; it will give you practice and open doors and create opportunities that weren't there before.
- DO: Keep it to 5-10 per day, so it is manageable. You don't want to text a lot of people and then take days to respond. Text when you have the opportunity to respond right away.; You need to be authentic.
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DO: Post as much as you want to Facebook but keep the ratio of posts 2:1; two personal posts to one business posts
QUESTIONS:
Do you have a personal Facebook page or a Business Facebook page?
- A business page. Always post on your personal page, your Instagram and your business page. Your friends and friends of friends on your personal page will see your business page if you have liked your business page from your personal page. They are all linked and people who don't know will see that you have mutual friends. They will know immediately you aren't a random person in their feed.
When you send the personal notes, gift cards or onesies, what is the process you use to get their address?
- If you get them off of Social Media and you don't have an address, you can go on MONSOON, put in their name and get their address. If they are a solid acquaintance you can PM them and let them know you want to send their child a card because they broke their arm, and they will give you the address. They want the card and they want to see if you will follow through.
Do you boost your non-business related posts?
- Sometimes because the target market is people I know.
Do you only put your logo sticker on the card?
- Yes and you can go on Amazon and buy 100 generic greeting cards. When you don't get a reply to a text you could even send a greeting card telling them to have an awesome day.
IN REVIEW:
- Being consistent is key, keep it going, and you will see results. Getting listings and referrals from people you know is fun; you can make the house hunting process more personal with friends, bringing your spouse along and going out for dinner after. When you are just cold calling or getting your leads from Zillow, makes what you are doing just a job.
- 50% of the people may not respond to your text, but when you continually and consistently go through your list, you are touching base with them quarterly. It lets them know you are there; don't give up on them and most likely at some point, they will answer back because you stayed with them.
- The text hustle is not a jump start; you have to do it forever. You can dominate your game, putting your stickers on everything; that is how people will remember you. You are the value, and real estate is just the commodity, they need to know that you are a most valuable thing out there to get them what they want. Do the small deposits, the basics that will allow you to get into the more technical things later on. It all starts here, build the capacity, and you will build the business.
INTRODUCTION:
To continue to fuel yourself forward as you grow in your business, you must continue to LEARN. This training program will cover different areas within the REAL ESTATE INDUSTRY. Everyone operates differently, and each training is designed to be informative and transferable to your own business to ensure it's a success.
OVERVIEW:
In the past year, Robert Dauk has had more than $9 million in sales, and 100% of his business came from OPEN HOUSES. Robert tried other methods to gain business, but realized that it wasn't working for him; it became overwhelming, and it wasn't building his business. Once he focused on doing 2 OPEN HOUSES per week and became relentlessly committed to it, that is what generated business for him. Don't let the shiny objects of something new distract you and instead commit to one thing that works.
POINTS TO CONSIDER:
- Committing to an OPEN HOUSE means scheduling it, putting it on your calendar and showing up; unless it is a TRUE emergency, you need to show your client your level of commitment. You can get many referrals from one OPEN HOUSE, that can lead to a new client.
- Everybody has a market that they want to stay in; whether it is a neighborhood you choose, or one that you would like to be in. You then look for the vacant homes, preferably a home that has been flipped; pull it up in MLS and map out the traffic which ideally would come from two streets. Use that house as your base point to sit in and host an OPEN HOUSE. Once you have picked a house, research a mile in the radius around that location and pull up all the available homes; print them out and hang them on the wall for people to see when they come into your event. You are sitting in an empty house, not representing a particular client so you are not stepping on anyone's toes.
- In doing that, you listen to the needs of those shopping for a home; you know the ten homes around that area that are for sale, sharing that information with the prospective buyer. This makes you an authority in your market, it shows your knowledge and what you can bring to the table. The buyer can look on Zillow all day long, but the stats that you researched about what is active, pending and recently closed which gives you the edge.
- Some clients want to see every home available, but out of 62, there are three that will work from them. Once you listen, you can vet that, preparing a list for what they are eligible for with their financing and what meets their list of needs. Researching is very important, and not just by price point. Whether it's a $100,000 trailer or a mansion you are helping someone find their dream home; a first time home buyer or an investor who does 20 deals a year.
- When you have found a home that you would like to do an OPEN HOUSE in, how do you go about getting permission to do an OPEN HOUSE at? There are a lot of brokerages that won't allow you to sit at their listing. When you find the vacant houses in that area, you need to start contacting the agents by phone or email. Ask them if they allow outside agents to sit in their homes; some home flippers will let you sit in their homes, they want traffic coming through.
- Once you get a house to sit, have an OPEN HOUSE there every chance you get. The day of the week and time of day doesn't matter; it can fluctuate. Having a sign in sheet on a small table by the front door, as they come in you ask them to sign in and fill out a feedback sheet as you walk around the home for your client. Let them know to feel free to walk around the house and if they have any questions to ask you; you don't need to follow them around like a pup. If a person doesn't want to give their information, let them know you at least need their name for safety purposes and some feedback on the home for your client.
- To promote the house before the event, you can create a flyer with your name on it and information on the house, and canvass the neighborhood where the house is. Neighbors like to see the homes that are for sale in their neighborhood, and they will share that information with friends and family who they want as neighbors. You will get a handful of neighbors by doing this, and those are potential listings. If your strategy is to find a buyer you are looking at it all wrong; you need always to be looking for contacts, for new relationships and potential clients.
- Putting out flyers is the most out front thing you can do without having a listing as well as signage. Getting a good group of photos and information on the other homes for sale in the area is also key. Try to get a good variety from the homes that are for sale; a handyman's dream, if it has a pool, etc. Sort them from least to highest priced when hanging them up and highlight the features of each home. Ask them what they are looking for and how they are looking; show them a listing of what homes you found that could be a good fit and ask them what time of day is an excellent time to go looking for them.
- The longer you can get someone to stay at the OPEN HOUSE the better. You are creating a relationship and also determining their level of seriousness about buying a home. You can get contact information that you can then follow up on. If you don't do the follow-up, you have just gone through all of that effort for nothing.
STRATEGY: DON'T
STRATEGY: DO
- DO: Prepare and Research. Knowing your market is vital when talking to prospective clients who come to your OPEN HOUSE; preparation is critical for a successful turn out and outcome.
- DO: When you are sitting at another agents listing, ask them to list the times on MLS and Zillow that you will be there. It will give you more avenues to bring in potential clients.
- DO: While you are sitting at the OPEN HOUSE, bring up your database and enter the information you received from people who have seen the house. The day after your OPEN HOUSE, start making phone calls to those people, if they didn't leave a number, you could send them an email. Let them know that you are following up with them and you have a list of homes based on the criteria they shared with you. If you do it that quickly, you are more likely to do it and not procrastinate; don't let them slip through the cracks.
- DO: When following up and you don't get a response to your phone calls or email, set them up on an email drip so they will continue to hear from you. Take notes on clients such as where they work, how many kids they have, little bits of personal information that can be conversation starters as well as the details that determine what kind of home they are looking for.
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DO: If someone tells you that they are just looking and not interested in buying a home, you need to dissect why they took the time to come to an OPEN HOUSE. You can still show them value by giving them a list of what is available in their neighborhood; at some point, they may want to sell or buy, and they will recall that you are the authority for that area.
QUESTIONS:
How many signs to do you put out?
- 25. If you put a sign at an intersection, make sure to put the sign back far enough so they can make the lane change or turn before they get to that street. Placing signs along the route to make sure you get them all the way there. Putting the signs out yourself will get you excited for the OPEN HOUSE.
Do you use tent signs or iron frame signs?
- I use iron frame signs with the vinyl lettering; my signs are yellow and black, so they are pretty noticeable, so I don't need to use balloons or anything.
How frequently do you follow up?
- Doing it every week was too many door slams so now I do it weekly but at least every three months. When you meet someone that starts the time frame of when you want them to start looking, they may be ahead or a year out from beginning to look. Asking them what their time frame is for a move is an excellent question for an Open House.
How do you get attention to a house you are selling when it is in a saturated neighborhood, deep off of the main street?
- Mix and match your signs with theirs and make sure your signs lead all the way to the house you are showing. Maybe even place a balloon of the one color on each of your signs for continuity.
How do you handle it when you get busy doing OPEN HOUSES?
- Even if you don't get a chance to speak to everyone, make sure they sign in. If you get busy, it is just part of the process, but if they sign in at least, you have their information.
When you start getting more clients who want to see houses on the weekends, how do you have time to hold an OPEN HOUSE?
- Set your time, it's your business. You can show homes before the open house and after, give them a block of time that you are available.
What time do you do your Open House on the weekends?
- Usually between 10 and 3. It depends on if you are busy that determines when you are going to leave.
If you are doing the same Open House for several weeks how often do you do a flyer for that house?
- I only do it one time because they will see your signs consistently up. The more signs you have, the more it looks alive and creates interest in what is going on. Make sure you know the rules for the HOA that governs the neighborhood you have your signs in.
With Open Houses, you host on weekdays, what is a good time to hold those?
- School gets out around 2:30 or 3:00, and people get home from work before 6, so between 3 and 6 is an excellent high traffic time.
How long have you been following this process?
- I got my license in 2007 and did not sell my first home until 2010. I was in construction and was a slave to that paycheck and was afraid to go commission and then the market fell apart. I couldn't make any money in construction anymore, so I had to make a change. I jumped in and had 30 days to sell a house. The quickest way to do that was Open Houses. Seven days into my first full-time project I sold my first house, and I got nine referrals from that client; that set the tone of how I could be successful at it. My employer told me I was leaving something for nothing and I said to him that I was leaving his 12 hours for my 12 hours. Having a second job away from Real Estate, takes energy away from doing what you should be doing to be successful.
Are there any days that you feel are better or worse for holding an Open House?
- No. As long as you have people in there in front of you, it was successful.
How would you strategize someone's week for them who are just getting into this business to build it as fast as possible?
- It's a ruthless business if you are trying to do it part-time. If you have a spouse who is carrying the bulk of your finances, you have more of an opportunity to become lazy. You don't feel that you have to commit to as much. If this is your sole bread and butter and you are starting new, you need to be in an Open House every day, as many as you can, to build that client base. Open Houses are the only, inexpensive way to create a stream to get you in front of people and start relationships.
IN REVIEW:
- Committing to doing 2 Open Houses a week gave Robert the opportunities he needed to make well over $9 million in sales last year. If your business is not where you want it, consider that option. You may hold 8 Open Houses before you get one client and it can be frustrating, but that one phone call and follow up can bring you the client you need that will give you the referrals that you can then turn to gold.
- It isn't a matter of holding two a week until you get a client; it's two a week as a commitment to get where you want to be in your business. It is your schedule, and you will earn the respect of your clients when they see you are busy and you give them the time you are available to show a listing. It is you taking control of your business, to generate or to go to a training or a meeting; building your business around how you work creates a lot of space for yourself.
- Writing down what you are doing allows you to look back and see how much time you are putting into your business. You are not going to become a millionaire working 4 hours a week. By tracking your time, you will see how much time you are wasting and where it is being wasted.
- The behaviors and conditioning through doing what you say you are going to do is your level of commitment; with consistency and creating habits, you will get the results that you want.
- We all want results, but there is a lot of hustle involved in the beginning in developing your database; it is sweat equity and consistency. If you don't have an office in the beginning, sitting at an Open House is ideal to get people in to talk to you about Real Estate. The days of storefront offices are gone, the more you get out there, the more results you will see.
INTRODUCTION:
To continue to fuel yourself forward as you grow in your business, you must continue to LEARN. This training program will cover different areas within the REAL ESTATE INDUSTRY. Everyone operates differently, and each training is designed to be informative and transferable to your own business to ensure it's a success.
OVERVIEW:
This training module focuses on HOME BUYERS. A top-earning agent for 13 years, Yesenia Espinoza is a former grade school teacher motivating her further to share what she has learned over her years of implementation. Being an educator you are always learning something new every day, so you constantly have to adjust your mindset and method. As agents, it is important to educate your clients within the buying and selling process and keep them well informed. This is one of the most significant investments of their lives.
POINTS TO CONSIDER:
- Preparing the clients by knowing first what their needs are is vital; directing them to ARMLS to wet their appetites for the market, finding out what they are looking for, and motivating them to seek out a lender to get that pre-approval letter. This first step can happen over the phone especially if you are a referral based agent, which can take 20-30 minutes.
- Once the buyer has gone through the pre-approval process with the lender, it is time to set an appointment with them to come into the office and meet. This begins the FIRST PHASE or reality check for the buyer.
- A consultation with the agent that should take an hour. This involves creating a list of what it is they are wanting or dreaming of having in the home they purchase.
- At this point the agent can show them the lowest to highest price points they will be facing in the market with the amenities they desire. It is a starting point to tailor make a home purchase that is within the parameters of their financing. This process will save the agent weeks of home shopping for the buyer, looking at properties that aren't within their price range.
- Having an organized, easy to access folder for the client is crucial. The folder should contain a copy of the purchase contract, buyers advisory, and all of the addendums from the agency that pertain to them. Take time to go over each document with the buyer to ensure that they have a full understanding of their rights and responsibilities.
- Encourage the buyer to begin looking into Homeowner’s Insurance, explaining to them that it is part of their final inspection process; giving them an idea of what this may cost them for the home they are considering and what area it is located in. They have the knowledge they need when shopping around for insurance and realize that this expense will be in addition to their monthly house payment.
- With DocuSign, it is essential that the buyer knows what they are signing. The agent can have an offer document pre-filled, and if a buyer sees a home they want, it is a simple phone call to a team member to fill out that offer, and then the buyer can sign electronically. Explaining this process in detail to the buyer is vital to getting that offer submitted in a timely manner. With the market being competitive, having that edge of a pre-filled offer contract can make the difference between getting the home of their dreams or not.
- Go through the contracts you are giving to the buyers thoroughly, take time to explain the section when it states that the home is being sold “AS-IS”; this is important for the buyer to understand, so when they get to the disclosures of the property, they see exactly what they agree to with any areas of concern. It causes the buyer to focus on the more significant items that may be of concern with the property such as, A/C not blowing cold, shingles are missing, water leaks, etc and not the minor issues.
- A new agent needs to be very aware of what the buyers conception is of the disclosures from the home inspection. The buyer needs to understand fully that not all areas of concern will be addressed, because of the AS-IS statement in the contract. The agent can express to the buyer that they will negotiate the items that are important, but not every small detail; giving them realistic expectations for a smooth sell.
- A pre-consultation meeting with a buyer is so important, and it sets their expectations which helps to educate your client in the home buying process. Reassure your buyer that even with the overwhelming amount of information they are being given, you the agent are still their guide; there will be communication with them throughout the entire process.
SYSTEMS
- Systems and processes will help you to be a higher producer, year after year. Using an email program such as, GET-RESPONSE, can assist the agent in creating automatic emails that follow each step of the process for the buyer, and the seller including follow up after the sell. It is an affordable way to show your clients you are on top of your game with an email that explains the inspection process, another congratulating them on the opening of their escrow and what to expect. It is nothing that you haven't previously gone over with them but reiterates the process in email form, each step of the journey. This also creates an accountability paper trail that can be referred back to if there are any miscommunications. It also makes it possible to go into greater detail of how they can prepare for their inspection, appraisal, and purchasing homeowners insurance.
- Note: As a new agent, it is important to remember to communicate to your buyer to never order their appraisal before the inspection. Wait until the BINSR response from the seller is acceptable before making the investment.
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Automatic emails can also include a moving day reminder; time to get boxes and call your utility company. This is also the time to explain the final walk-through process; having a binder for the final walk through with your notes as the agent, their BINSR, list of repairs, a copy of the contract, a neighborhood profile, a copy of the appraisal and inspection, and the title commitment. If the client has any questions, the binder is available for them in a neat, organized format.
- Tip: Anniversary emails are sent at intervals from 6 months to a year. This can assist in return business or referrals. Reminders that the new home buyers should keep a copy of their documents at hand for their tax return as these items can be tax deductible, such as property taxes. Having the confidence that you performed at a high level will make it easier to ask the client to refer others to you.
STRATEGY: DON'T
- DON'T: It is vital not to stress your clients out; this is a common mistake for new agents. Keep the stress making issues to yourself; you are the professional; never give it to your client. You want to make the transaction as smooth as possible; the buyer is already stressing out over finding a home, loan documents, and the whole process. They don't need your added stress by over communicating, come up with a solution without putting that onto the buyer.
STRATEGY: DO
- DO: It is essential to have a method to process each client in a timely, organized way. Surround yourself with a good team; your lender, your title company, are all part of your team. It gives you peace of mind to know you have a capable, reliable team behind you.
- DO: Make sure when you are giving a buyer an idea of what their payment is going to be, that you are giving them an estimate. Always refer them back to the lender for the exact numbers they are looking at. The buyer will hold you to the amount you told them; reiterate that it is merely an estimate to protect yourself from problems that can arise from miscommunication.
- DO: The buyers are responsible for shopping for their loans, but if you see them heading into a situation with a lender who has a bad reputation, let them know and give them alternate options. Encourage them to shop around within their 45-day window that their credit is pulled for the loan. A good lender can make or break the process on each end of the transaction.
- DO: Show your confidence, not your weakness. Be caring and friendly, reaching out to them and acknowledging their pets, their kids; show that you care. Don't let your possible commission affect the buyers choice; they have to live in that home, not you.
- DO: Encourage your client to prepare a review for you on Zillow, being honest about what you did for them that they liked and what areas you need to give more attention too. Direct them to look you up on Zillow, giving them the opportunity to see what others have said about your performance. It lets the client know that you are willing to work on yourself to do the best job you can. Send them the Zillow link in the follow-up emails after the sale, asking for a review.
- DO: Social Media is critical to promote yourself. Find out if the client is on Facebook or Instagram and when you snap photos of giving them their keys you can tag them in it on the social media account to celebrate their accomplishment and promote yours as well. They will also be able to follow you and get to know you on a personal level, your family, your kids; this humanizes you and makes a deeper connection with your client.
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DO: When doing your inspections, recommend a few options for them. You take control of the BINSR and point out the items that you think they should be focusing on.
QUESTIONS:
What is a good way to ask your home buyer to refer business to you?
- During your final walkthrough is an excellent time to ask if they were happy with the service and treatment you gave them. When they respond “yes” then tell them if they know of anyone who is looking for a home to refer them to you, adding that your business depends on referrals and make sure to have extra business cards available in their closing binder.
How do you reach out to clients that you haven't spoken to in some time?
- Just having the boldness to reach out to them and present yourself in a way, so they feel you are checking in on them. Don't make it awkward or make the buyer nervous, keep it casual.
At the beginning of a sale do you discuss earnest money and closing costs?
- Taking time to show and explain to the buyer the sales price, and the earnest money, do this during the time that you are going over the buyer's contract. This is the time also to tell them that they are not paying your fees, the seller is. Break down their costs as a visual with lenders fees, title fees, appraisal fees, inspector fees, etc. You as the agent can then explain to the buyer that in addition to the fees the seller is paying, you will be asking them also to pay the closing costs that are incurred by the buyer. Explain the difference between a down payment and closing costs.
Should you give a tangible gift to your buyer even if you do the home warranty credit for them?
- Just do one thing or the other, you can do both, but that is an additional expense that is up to you the agent.
IN REVIEW:
- Building a solid relationship with your client is key; you want them to have every confidence and trust in you that your decisions are always in their best interest and not your own. It sets a tone from the first call that you are in control, and know what you are doing. Give them a path of least resistance to get from point A to point B.
- It will set you up as your business grows to remain in control and organized. Be proactive and know the property you are showing; turn on the lights, check the A/C, flush the toilets, open and close the garage door. Make a vacant home inviting to a potential buyer, it could be their perfect home, and they are getting it in AS IS condition.
- This is a standard that is easy to follow and will set you apart from 99% of all agents. These little steps will get you closer to becoming a top producer; it doesn't happen overnight, but when you are consistent you will see results. Change your dynamic of how you approach your clients, and it will change the outcomes for your business.
A.Z. & Associates Real Estate Group - 2019