Wade Webb, Author at Wade Webb Real Estate Coaching

Thriving In A Slowing Market

Wade Webb on October 9, 2024

In any economic downturn, real estate agents face unique challenges. However, with the right strategies, it’s possible to not only survive but thrive even when the economy is slowing down. Here’s how agents can adapt and succeed in a sluggish market.

1. Embrace a Niche Focus

When the broader market slows, narrowing your focus can be highly effective. Specialize in specific property types, such as first-time homebuyers, luxury estates, or rental properties. By becoming an expert in a niche market, you can better cater to the needs of a more targeted group of clients and stand out from the competition.

2. Strengthen Client Relationships

Building and maintaining strong relationships with clients can be a game-changer. Take the time to understand their needs and offer personalized service. Regular check-ins, valuable market insights, and proactive communication can help you stay top-of-mind and encourage referrals. Remember, a personal touch goes a long way in building trust and loyalty.

3. Leverage Digital Tools and Marketing

In a slower economy, your online presence becomes even more critical. Invest in a user-friendly website, optimize it for search engines, and utilize social media platforms to reach potential clients. Virtual tours, high-quality photos, and detailed property descriptions can attract buyers who are browsing from home. A well-executed digital marketing strategy can help you stand out in a competitive market.

4. Provide Valuable Market Insights

Position yourself as a knowledgeable resource by offering valuable market insights and educational content. Share updates on market trends, investment opportunities, and tips for buying or selling in a slower economy. Blogging, hosting webinars, or creating informative videos can establish you as an authority in the industry and build credibility with your audience.

5. Be Adaptable and Flexible

Economic slowdowns often bring shifts in market dynamics. Be prepared to adapt your strategies based on current conditions. This might involve adjusting your pricing, offering flexible terms, or exploring new revenue streams like property management or consulting services. Flexibility can help you navigate changes and capitalize on emerging opportunities.

6. Enhance Your Customer Service

Exceptional customer service can set you apart in a slow market. Be attentive, responsive, and empathetic to your clients’ needs. Go the extra mile to make their experience as smooth and pleasant as possible. Providing outstanding service not only helps you retain clients but also encourages positive reviews and referrals.

7. Build and Maintain Your Network

Networking remains a powerful tool, even in a slow economy. Strengthen your relationships with other real estate professionals, financial advisors, mortgage brokers, and local businesses. A robust network can provide valuable referrals and collaborative opportunities. Attend industry events, join local business groups, and stay engaged with your professional community.

8. Stay Informed and Educated

Continuously educate yourself about market trends, economic indicators, and changes in real estate regulations. Staying informed allows you to make better decisions and provide accurate advice to your clients. Consider investing in professional development courses, attending industry seminars, or joining real estate associations to stay ahead of the curve.

9. Focus on Long-Term Relationships

During slower economic periods, long-term relationships become more valuable. Cultivate a network of past clients, prospects, and industry contacts. Regularly check in with them, offer assistance, and keep them informed about market conditions. Building a strong network of relationships can lead to future business opportunities and referrals.

10. Embrace Innovation

Innovate your approach to meet changing market demands. Experiment with new marketing tactics, explore different types of properties, or adopt emerging technologies. Embracing innovation can help you stay relevant and position yourself as a forward-thinking agent.

Conclusion

Navigating a slowing economy requires adaptability, innovation, and a proactive approach. By focusing on niche markets, strengthening client relationships, leveraging digital tools, and staying informed, real estate agents can thrive even in challenging conditions. Embrace these strategies, and you’ll be well-positioned to succeed and grow your business, no matter what the economic climate brings.

By implementing these strategies, you’ll not only weather the storm but also emerge stronger and more resilient in the ever-changing world of real estate.

Strength and Courage,

Wade

What Does An Ideal Day Schedule In Real Estate Look Like?

Wade Webb on October 2, 2024

One of the things we all love about real estate as a career is it is never the same day twice. The freedom and flexibility with our time is something that empowers us or THIS, however, can also be our recipe for disaster.

We are Sleeping ‘til 10am, a long lunch until 2 in the afternoon, then scrolling through Facebook until 5pm … before you know it, an entire day has slipped through the cracks, and you have nothing to show for it. Can you relate?

You’ve heard me say it before, “Routine is the sign of an ambitious individual.” Routine is what separates the average agent from the top producer.

Agents constantly know what the most important skills are to reach success, and to that, I always say, the ability to PLAN and EXECUTE. That’s why today we are sharing an hour-by-hour plan for an ideal day for the top producer. It is up to you to implement and execute!! So here we go!

Hour by Hour Plan for a Top Producing REALTOR©

5:00 AM – 6:00 AM: Wake-up + Exercise + Nutrition

Use this time to fuel your body and energize yourself for the busy day ahead!

6:00 AM – 8:00 AM: Morning Routine + Getting Ready

Set yourself up to be in a peak mental state – this is crucial to reaching your goals. If you don’t have a morning routine, then here are some ideas. My morning routine recommendations: prayer, meditation, visualization, audiobooks, gratitude, journaling, affirmations, inspiring videos etc.

8:00 AM – 9:00 AM: Prepare + Review

Connect with your assistant (or sit down with your calendar) and go over your objectives and outcomes for the day. Visualize your activities and purpose for the day.

9:00 AM – 10:30 AM: Appointment Setting Time

No distractions, just 90 minutes straight of prospecting and appointment setting (DO NOT SKIP THIS!). Get the most important activity out of the way in the morning. Follow up all your leads and make all your calls first thing in the day. Plant those seeds and set the buyer and seller appointments.

10:30 AM – 11:00 AM: Break

Take a brisk walk to mentally recharge before your next tasks. Clear your mind and get some air and reload.

11:00 AM – 12:00 PM: Lunch + Prep

Prepare your hot sheets by filling in all your buyer and seller lead details. Details like name, contact information, source of lead, type of lead, follow up dates and appointment set yes, or no? After the hot sheets are done then plan for your afternoon appointments with buyer and sellers.

12:00 PM – 4:30 PM: Appointments + Listing Presentations

Use this 4.5-hour block to schedule in three 90-minute appointments or listing or buyer presentations. If you’re a new agent and don’t have 3 daily appointments or presentations booked, use this time for additional prospecting and appointment setting time.

Work your face off so you can go home at a decent hour and be present with your loved ones!

4:30 PM – 5:00 PM: Daily Wrap-Up

Close up the day and identify what you accomplished and what your goals are for tomorrow. Review your schedule for the next day and ensure the day is all set.

5:00 PM – 7:00 PM: Home + Dinner + Family Time

Work/Life balance is so important. If you want it to happen … you’ve got to schedule it in, just like everything else in your day! Stay present and enjoy a good meal with the ones you love. 6 pm is family dinner time, all of us at the table together with no electronic devices in our home.

7:00 PM – 9:00 PM: Personal Time/ Evening Appointments (if necessary)

Most top producers can get their clients to meet during daytime business hours, there are some exceptions where this isn’t possible so an odd evening appointment maybe necessary. Usually, you will mostly use the final hours of your day to hang out with your significant other, read an enjoyable book, or focus on a favorite hobby.

9:00 PM – 5:00 AM: Sleep

Rest and recharge for an action-packed day tomorrow. REMEMBER YOUR PERFECT BUSINESS STARTS WITH YOUR PERFECT DAY.

Strength and courage,

Wade

Top Skills Most Agents Are Missing

Wade Webb on September 25, 2024

Your real estate skills determine your success, but they could also be your downfall if left undeveloped. In a competitive market, there’s little room for skill development while managing your business, leading to anxiety and reluctance to try new things. This mindset can perpetuate the belief that certain tasks will always be difficult.

Let me clarify this: not everything should be difficult or uncomfortable if you have the know-how and confidence to handle it effectively. Let’s talk about three crucial real estate skills that are holding agents back at various career stages.

In this blog, we’ll delve into these real estate skills for a new real estate agent, novice, or seasoned agent. Let’s start off with what exactly I’m talking about when I say “skills.”

What Are the Elements of Skills in Real Estate?

I know… You already know what skills are. But when have you taken the time to break down what they really mean? Doing this can show you how to develop them. To make it very simple, a skill is the combination of two things: Your knowledge of how to perform a task in the most effective way possible.

Your confidence and ability to perform the task in your chosen way on command.

Understanding the essence of skills is vital for your development. Simply put, a skill is the combination of knowledge on performing a task effectively and the confidence and ability to execute it. While knowledge can be acquired through trial and error or guidance from experienced individuals, confidence and ability improve through practice.

But I can’t say this enough… DON’T PRACTICE ON YOUR CLIENTS! You only have one reputation, and every interaction affects it. Professional training programs are recommended for the simultaneous development of knowledge and skills. Remember, skills aren’t something you’re naturally good at; they require refinement and can deteriorate from learning bad habits.

What Skills Are Needed for Real Estate? Skills needed in real estate include effective communication, negotiation, marketing, time management, adaptability, problem-solving, local market knowledge, technology proficiency, networking, and integrity. Let’s take this one step further and talk about the fundamentals of these skills for real estate agents.

Common Real Estate Skill Deficiencies.

The Foundations – Nothing will slow down your progress like learning the foundations incorrectly – or in many cases not learning them at all. Learning the foundations correctly, or lack thereof, significantly impacts your progress in real estate.

When you were getting your license, how much did they teach you about running a business, doing effective real estate marketing, becoming competent at sales, and managing your time? I’m willing to bet, pretty much nothing.

Traditional real estate education often neglects crucial aspects like business management, effective marketing, sales competence, and time management. In today’s competitive market, there’s little room for new agents to make mistakes in real estate.

Now, I know it seems like cheating to call all these foundations one skill because they encompass just so much, but a large part of this has to do with when these skills are learned and how they’re integrated together into a routine and a mindset. Here are just a few of the elements of your foundational skills:

Understanding how to control your time
Mastering the art of the buyer consultation
Comprehensive annual reviews
Host open houses that are successful
Handling objections to close deals confidently
Creating real estate social media videos for brand growth

But the main reason I count them all together is because of the solution I’m about to announce which covers all of these and more… Stick around for it!

Phone Prospecting. – While the foundations come in first place because you absolutely can’t start making decent money until you have some grasp on them, phone prospecting is the hands-down No. 1 most common issue among all agents.

It doesn’t matter if you’ve found some other lead gen channel that’s working – if there’s a fear of the phone and you’re not making your calls then you’re not reaching your potential. The obvious culprit here is a crisis of confidence. It can be awkward to call strangers or people you barely know. It’s uncomfortable to ask for an appointment, and it can be a real confidence killer to be hung up on or to sense someone’s annoyance.

But it’s only awkward/uncomfortable/draining if you haven’t developed the skills for it. And please keep in mind that developing these skills is a part of your job. You might not like it, but it’s part of the career path you’ve chosen. Remember here that confidence comes from experience, and still, it’s only one-half of what forms a skill.

You need the knowledge of exactly what you’re going to say and the training to anticipate what they might say next. This is what will allow you to steer the conversation in the way you want it to go. Once you have that, confidence will come naturally, and phone calls will become predictable commission.

Leverage – The longer you’re in this business, the more you’re going to want to start delegating tasks to free you up to focus on the most important – and rewarding – aspects of the role. And that means building a team around you.

Think about it… wouldn’t it be lovely if you could work less and make exponentially more money? How about going on vacation while your business continues to run smoothly without you? These are just a few of the incredible benefits of having the right team. But the right team isn’t easy to build, especially when you first get started.

After years of mastering the fundamentals of real estate skills, becoming fearless on the phones, and raising their annual commissions, many experienced agents believe that they know it all just to find themselves completely lost again when it becomes necessary for them to expand. Recruiting is a different ballgame than any other aspect of the business.

On the one hand, you want to take the time to find the perfect people for every position and train them properly so that they can fulfill their roles. On the other hand, you don’t want your business to completely collapse while you take the time to do this and go completely bankrupt on paying people you can no longer afford. It seems like a Catch-22, right? It doesn’t have to be if you know how to:

Implement the right recruitment strategies
Find the right employee lead sources
Build a strategic recruiting plan
Identify the best talent
Craft an efficient onboarding process

Let’s go back to what I said at the beginning… Pride and ignorance are the opposite of confidence, and they can prevent us from recognizing where we really stand. It’s embarrassing to admit to ourselves that we didn’t master all the fundamentals when we first started, so sometimes we’d rather blame the market than admit to our own lack of skills.

It’s easier to say that we don’t have the time and energy to make our calls than to admit that it’s a lack of confidence holding us back. And it’s easy to say that you’ve become successful on your own, so you don’t need help in becoming a leader. These are all excuses that are holding you back. So, I challenge you to be honest with yourself.

Strength and Courage,

Wade

Navigating Your Shift In Real Estate

Wade Webb on September 18, 2024

Is the economy shifting?

That’s the question on everyone’s minds right now. As we know, the real estate market has remained slow amid high mortgage rates and inflation. It’s worth asking what’s going on in the economy and what it means for real estate agents trying to keep their businesses afloat.

What I really want to do is help you prepare your business for the type of market we’re facing. I’ll give you four strategies to recession-proof your business and seize this period of economic downturn for your advantage. As you can see, this is the best time to expand your market share if you do it correctly. This is a message of hope and not one of negativity.

Shift #1. Focus on Operational Efficiency – The Harvard Business Review researchers dove into different combinations of offensive and defensive plays that companies ran and rated them based on their effectiveness. Those who cut employees while focusing on market development and investing in assets performed the worst. On the other hand, those who used the same offensive moves while focusing on operational efficiency instead of employee reduction performed the best overall.

Streamlining your operations comes down to organization, continuous training, and tracking and measuring results, and non-stop development. When you study your business and cut all the things that don’t serve you, it creates space for more impactful actions. Right now, we can’t talk about efficiency without talking about AI.

According to Forbes, business owners who have adopted AI into their workflows report experiencing a 50%+ improvement in overall productivity. As a real estate agent who wears so many different hats, this is especially true. AI can help you edit videos, create social posts, improve your website, automatically set up appointments, interpret data, optimize your schedule, and so much more!

Shift #2: Strategic Marketing & Lead Gen – It’s not enough to just put out more marketing. To survive and thrive after an economic downturn, you need to get strategic about what channels you’re running to minimize costs and maximize results. If you’re just putting out more of the same and throwing money at the problem, that’s how you end up in that 26% Promotion group.

Start with your messaging. When people find themselves in a new economic situation, the messaging is more important than ever. Decide the story you want to tell and choose channels that will allow you to convey it to your target audience while remaining within budget. Luckily, there are a few marketing channels that cost next to nothing and have proven effective under any circumstances. And remember, most of your competition is as scared as you might be.

They will likely pull back on their marketing and regret it later. This is a massive opportunity for you to scoop up market share.

Shift #3: Mindset is Everything – That is so very important. Do not go reading the news in your free time. Take in just as much news as you need to stay informed and do your job effectively, and then get your head to a more productive place.

Buy one of the mindset books on this list – or all of them – and read a chapter every morning. Listen to them in the car or on the treadmill. Mediate, exercise, and eat well. Write out your mission statement, create a vision board, and keep a gratitude journal. Do whatever it takes to get out of the noise and keep charging the storm.

Shift #4: Invest in Training, Knowledge, and Guidance – If you want to achieve the first three plays in this list, this one is how you do it. Training and guidance and the most recession-proof strategy you can possibly adopt – for both you and your team.

We’re not in a Speed Market anymore. This is a Skills & Strategy housing market, so only those with the best skills and strategies will win. That’s where training sets you apart. It’s the reason that agents who join real estate coaching begin to multiply their GCI within the first year and continue to grow consistently after that.

When it comes to your team, providing training is your best tool for keeping them engaged and loyal. Researcher Bob Nelson states that other than direct recognition, career development opportunities are the best way to drive employee engagement. Data from Deloitte shows that 26% of all employees are actively disengaged but developing a learning culture and providing training can rapidly drive engagement and boost retention by 30-50%.

As I said before, this is an uncertain time, but there is nothing to be worried of if you have the skills, knowledge, and expert guidance to handle whatever the world can throw at you. Training = Confidence. Remember that.

Strength and Courage,

Wade

Seller Counselling & Price Repositioning (Reduction)

Wade Webb on September 11, 2024

Now this isn’t about getting new business.

It is not a prospecting script, but it may be the most important phone duty that anyone in your office does–asking for price reductions on listings.

Asking for price reductions can make or break a top real estate agent’s business. Not only will price reductions quicken the sale, and therefore, minimize overhead in a real estate agent’s business, but it will also prove to everyone your marketing systems work. Remember, price is 90% of any marketing plan and the faster you achieve market value, the faster everybody’s needs are met.

The challenge with price reductions is not solved with a phone script, but a series of planned events. This system you are holding shows you the right questions to ask prior to a listing presentation so you can learn their true motivation and then find ways to meet their goals. When the desire is to meet someone’s goals, they’re much more likely to listen to the plan that gets them there. As we all know, the correct price is the fastest road to the achievement of most goals that have to do with a sale.

Once the right questions are asked, the next step is an outstanding presentation with the correct verbiage during the CMA.

We’ve all experienced the seller that no matter how much information is given them, including pre-listing sales packages that include pricing technologies and the right scientific research showing the exact value of their home–they still want more!

What are we to do?

What do you do while battling another agent’s high evaluation, or how do you obtain pre-agreed listing reductions during the term of the listing? All I can do at this juncture is to assume the right questions were asked prior to and at the listing presentation, and they received information on how to price their property correctly.

This information was reviewed at the listing presentation, and the scientific information was discussed. If after all of this has been done and the price is still too high your options are to not take the listing or to receive pre-agreed reductions based upon the success of marketing.

All this leads me to believe, if everything that should be done has been done, and you still have an overpriced listing, you (1) knew it was overpriced and took it anyway or (2) made a mistake based upon the fact you liked the property more than anyone else did.

There’s also a possible third problem and that is the seller was a better salesperson than you and sold you on the high price. All this is leading us to one conclusion, if you have been a victim of any of the previously mentioned three problems, you’re now going to have to consistently ask for price reductions, which may be the most embarrassing aspect of this business.

How do you ask for price reductions when you told the seller you could market the home at the agreed upon price? Sometimes, their responses are furious, such as, “Well anybody can sell this house at that price,” “The other agent said that they could get more,” “I can’t buy my new home if I get that price,” or “Do you expect me to lose money?” All these questions ignore the main subject, and that is, market value is market value and none of the above questions have anything to do with or affect market value.

The following lead-ins can be used to ask for a price reduction, but it is very important you use new subjects as often as possible, so not to sound monotonous!

Remember, an agent who asks for price reductions soon after the listing presentation will have a weary seller, so therefore, mix your price reductions with new and exciting marketing concepts. Concepts such as a page promoted on your website from your lender showing five ways, which the home can be financed. Adding a special home of the day button to your site or sending your evaluation surveys to all the agents who have seen the home– I’ve got a million of them. Remember, the seller likes the real estate agent who is ingenious in their marketing methods and, the seller will then listen more intently to the following reasons for a price reduction.

Lead-ins to Ask for a Real Estate Listing Price Reduction….

There’s been a new sale in the neighborhood that affects your value.
Here are some of the responses we’ve received from other agents.
Here are the responses I received from buyers I have shown.
Here are responses I have heard from buyers shown by other agents.
Here are the responses from the agents in my office.
Here are the attitudes of the real estate agents who attended the Broker Open House.
Here were the attitudes of the buyers who walked through your home on the open house.
Here are the responses we have received from the ad that we’ve placed in . . .
Here are some suggestions I would do if it were my home to make it more appealing to buyers. Oh, rather than just making these improvements why don’t we drop the price to compensate for some improvements the buyer may want to make?
Why don’t we increase the selling office commission? If I sell it, I will stick to the original terms of the listing agreement.
May we add a selling office bonus?
May we add points, so financing becomes easier for a buyer?
I know this offer was low and the buyer did not accept our counteroffer, however, may I lower the home to the amount we mentioned in the counter offer to attract more interested buyers?
May we ask for some concessions on the home you’re buying and then supply those same concessions to any potential buyers on their home?
May we offer preferential owner financing and make the property more affordable to any potential buyers?
We have an open house / new ad / new internet blast going out and I would certainly love to be able to market this home at a new and improved price.
I’m going to be taking the property out of the MLS and resubmitting it as a new listing, therefore, acquiring a new look and new enthusiasm among the cooperating real estate agents here in town. I’d like to do that at a lower price.
Is there anything we could throw in that would sweeten the pot, appliances, vehicles, maybe even a free vacation at a time share?
Many times, we have found emotions play a big role in the sale of a home. Therefore, can we make your home more emotional by having it professionally staged and decorated by a local design group?
Cooperation among real estate agents is paramount to getting the property sold. Yes, I am the one agent that is handling the marketing, but I am marketing to more than 3,000 real estate agents who handle a large percentage of buyers. My job is to market to them so they can express their excitement of your home to their buyers. Let’s discuss what we can do to make this home more exciting to the real estate agents here in town.
Real estate agents have many properties to show and sometimes the determining reason for showing is ease of access. Let’s do some items to improve the showing procedure to make it easily accessible to real estate agents at any time and at a moment’s notice.
I would like to obtain a price reduction and do some things I have never done to market a home, such as advertising them in the Los Angeles Times and the Wall Street Journal. Spending money on an ad that would reach outside our geographical area is risky, but I would be willing to go ahead and give it a try if we had a more marketable price.
I was looking at your holding cost and found if we drop your price and obtain a sale, we may eliminate many months of payments, taxes, insurance, and upkeep I believe would compensate for this price reduction. Let’s discuss how this might work.
In all the years I’ve done business, one of the hardest things I must do is disappoint a client. The continued marketing of this property at the current price that I now find is too high only tends to disappoint you and therefore, I’d like to ask the following favor. Would you please consider a price reduction and if that’s impossible, would you allow me to discontinue my marketing efforts? It’s very difficult for me to express this to a seller that’s been fair with me and to a home I’d like nothing more than to market and sell; however, I truly believe unless we drop this price, the property will go unsold. I’m willing to give up my marketing effort and my listing to show you how clear I am we need to adjust our price today.

I hope you can use any one or all these reasons to obtain a price reduction or improvement in terms or value. The phone is the most effective way to do this. The use of your assistant calling for price reductions or doing it by mail has proven to be ineffective. There are times when the real estate agent must pick up the phone, and the price reduction is one of them.

Strength and courage,

Wade

How Do We Finish Our Year Stronger?

Wade Webb on September 4, 2024

I don’t know about you, but my summer seemed to just fly by, and I cannot believe it is September 2024. We are beginning the last quarter of the year, and for sales professionals, there are only two outcomes. Will you finish in the red, or in the black? Will you finish strong or miss your targets and goals?

Winning near the end of a game, quarter or year is a trait of all the best salespeople I’ve ever met. Closing out strong is primarily the effect of a consistent quarter; there are still a handful of things you can do to strike off checkboxes in the win column to finish Q3 and your 2024 strong.

1. Be Direct – There’s no substitute for being pleasantly persistent and respectfully blunt. Get out there and be straightforward. Acting and getting after it is a choice and work on the high-quality leads and not the low-quality leads.

Ask yourself, “If you were me, would you forecast this listing or buyer prospect to buy or sell this month or in the next 90 days?” Remember, the shortest distance between two points is a straight line. Being direct will help you get real with your buying and selling customers and align yourself with the true sales cycle. It might also enable you to pull out a quick win.

2. Be Effective – For more than two decades now, I have heard from thousands of top-producing agents, and almost 60% of their business comes from repeat and referral business. Focusing first on the people we already know, like and trust is working effectively and efficiently in this business.

If you don’t have enough people who know, like, and trust you, then get out there and “S.T.P. – See The People.” If you have a list of relationships in place that have not “felt the love,” then get out there and see them and find ways to add value to them. Give them a call, email, text, handwritten note, small gift or even a coffee and just watch and see what happens with your last quarter.

3. Be Face to Face – Sales is a contact sport, and we need to be belly to belly. Any one of us making a large buying decision needs to know that the person we deal with is someone we like and can trust. The only way we can sense if we like or trust someone is meeting them in person.

Commit to the final quarter on sales activities that are primarily face-to-face and belly-to-belly activities like Open houses, door-to-door, kiosk, networking, office duty, coffee, lunch, pop-by, volunteer, client appreciation events or conventions. This is a relationships business so get out there to create and deepen those relationships. We have automated our way out of people’s lives in real estate.

4. Stack-Rank Your Prospects – We will never be able to manufacture more time, but we can manufacture more focus. I recommend looking at your pipeline and grading each opportunity on a scale of 1-4 with 4 being “highly closeable by the end of the quarter.” Then, focus your closing efforts on the 3’s and 4’s ONLY. You don’t have time to waste.

If you don’t have enough 3 and 4 prospects in the funnel then act and increase your marketing plan and daily prospecting, lead generation with planned marketing, activities that bring the level 3 and 4 prospects into your pipeline to finish Q3 strong.

5. Purge Your Pipeline – Almost every sales pro has them. They’re those big opportunities in the pipeline you’ve been working for months. The one deal that constantly disrupts your focus or the need to act. The buyer or seller who is the time and energy vampire, but you let them suck the life out of you because you don’t have anyone else to work with.

Every time you think about punting them, you get a glimmer of hope from them. It’s time……Remove them!! They don’t deserve to be on your radar right now. Coming clean with yourself will open new vistas and invigorate you to add more productive opportunities to your pipeline.

6. Start Planning for Next Quarter – How much revenue do you plan to book next quarter? Exactly how many new deals do you need to earn that amount? Knowing exactly what you plan to earn acts like a magnet to attract business your way. Having this exact number also allows you to project your required activities into month one of the new quarters.

If you’re accurately measuring your deal metrics, you’ll be able to predict with some certainty how many calls, emails, appointments, presentations, or opportunities you’ll need to make it rain. Ask for a review by management. Knowing your numbers is one thing, but to positively affect the business, it’s equally vital to understand your “why”, purpose and goals and have someone hold you accountable to them.

Bonus Tips: What NOT to Do in the Last Quarter

1. Do Not Bring on Bad Fitting Clients Just to Make Your Numbers – Any client outside of your ideal customer profile will complicate servicing, produce a higher likelihood of churn or failure, and ultimately cost you more time and resources than it will be worth. Instead, focus on filling the pipeline with high quality leads for next quarter. It’s never too early to start filling the funnel.

2. Never Give Away More Than You’re Comfortable With – It’s just not worth it. You only have one reputation for your brand and offering; treat it respectfully. Concessions can quickly become a crutch that hides other issues. Sell on value, not on price. Don’t cut your commissions, offer cash backs or any other silly incentives.

The key to closing out your quarter strong is to keep up the momentum that got you to where you are now. If you’re struggling to meet your numbers, it’s a time to embrace new sales insights and start building effective rhythm. Take the last-minute shots on goal listed above but remember to always be thinking about the bigger picture: Your reputation is the product of your past actions. Sales that allow you to produce predictable revenue are the future. Finish the last quarter and your year strong. I dare you!!

Strength and courage,

Wade

What Top Agents Have Learned To Never Do Again

Wade Webb on August 28, 2024

So, what does that mean? The things top agents never do again.

From my observations of successful agents, they tend to have moments in life and in business, that once they have them, they never go back to the old way of doing things. When that happens, they are never the same.

In short, they just “get it”!

Years ago, a bad business decision of mine led to an interesting situation. I had learned a valuable lesson the hard way and assured myself this was a good thing once I learned that lesson, I would never go back.

Trust me you never do it again. So, what are the key moments successful agents go through that forever change how they do things, which propel them to succeed in business, relationships, and life?

I began to look at these moments and here is what I found.

Successful agents never again…

Return to what hasn’t worked for them in their real estate business or personal life. Whether a job, or a broken relationship that was ended for a good reason, we should never go back to the same thing, expecting different results, without something being different.
Do anything that requires them to be someone they are not. In everything we do, we must ask ourselves, Why am I doing this? Am I suited for it? Does it fit me? Is it sustainable? If the answer is no to any of these questions, you better have a very good reason to proceed or stop it and be your authentic self.
Try to change another person. When you realize you cannot force someone into doing something, you give him or her freedom and allow them to experience the consequences. In doing so, you find your own freedom as well. You can only change yourself and really cannot change others.
Believe they can please everyone. Once you get it truly is impossible to please everyone, you begin to live purposefully, trying to please the right people. They realize they are the most important person in their life and their family and friends are the next important people in their lives. They stop basing their choices on people pleasing and choices that are best for themselves and those most important to them.
Choose short-term comfort over long-term benefit. Once successful people know they want something that requires a painful, time-limited step, they do not mind the painful step because it gets them to a long-term benefit. Living out this principle is one of the most fundamental differences between successful and unsuccessful people, both personally and professionally. They have the courage to leave their comfort zone to gain long-term results.
Trust someone or something that appears flawless. It’s natural for us to be drawn to things and people that appear “incredible.” We love excellence and should always be looking for it. We should pursue people who are great at what they do, employees who are high performers, dates who are exceptional people, friends who have stellar character and companies that excel. But when someone or something looks too good to be true, he, she or it is too good to be true. The world is imperfect. Period. No one and nothing are without flaw, and if they appear that way, hit pause. Don’t be misled. Learn how to read people.
Take their eyes off the big picture. We function better emotionally and perform better in our lives when we can see the big picture. For successful people, no one event is ever the whole story. Winners remember that—each day. The top agents always have their eye on the prize and know their “why” and purpose and love the impact they have on people and the ones closest to them more than the selling real estate part.
Neglect to do due diligence. No matter how good something looks on the outside, it is only by taking a deeper, diligent, and honest look that we will find out what we truly need to know and the reality we owe ourselves. The best reality comes from an honest self-assessment. Top agents always make educated decisions on everything personally and professionally they do.
Fail to ask why they are where they find themselves. One of the biggest differences between successful people and others is successful people always ask themselves, “what part am I playing in this situation”? Said another way, they do not see themselves as victims, even when they are. Don’t make excuses for who and where you are. Top agents don’t live below the line in blame, denial, and excuse. They are above the line and take ownership, action, and learn from their mistakes.
Forget their inner life determines their outer success. The good life sometimes has little to do with outside circumstances. We are happy and fulfilled mostly by who we are on the inside. Research validates that. And our internal lives largely contribute to producing many of our external circumstances. Become a better you and the outward becomes better. The converse is true. People who are still trying to find success in various areas of life can almost always point to one or more of these patterns as a reason they are repeating the same mistakes.

Remember everyone, including myself, make mistakes… even the most successful people out there. But what achievers do better than others is recognize the patterns that are causing those mistakes and never repeat them again. In short, they learn from pain—their own and the pain of others.

A good thing to remember is this: Pain is unavoidable, but repeating the same pain twice, when we could choose to learn and do something different, is certainly avoidable.

I like to say, “We don’t need new ways to fail… the old ones are working just fine!” Our task, in business and in life, is to observe what they are, and never go back to doing them again.

Strength and courage,

Wade

Getting A Buyer Commitment

Wade Webb on August 21, 2024

We have been communicating our value proposition to sellers and getting them to commit for decades and now the time has come for buyers.

The greatest document created for the real estate industry in the last ten years, must be the Buyers agreement. Think about it… agents would never think of marketing and promoting a seller’s home without a listing contract but why do so many agents spend a ton of time and money working for a buyer without a buyer’s agreement?

Why did they create this document but forget to train the real estate professional how to present the value proposition to their buyer to want to sign it prior to buying their next home?

Agents take the time to sit down with a seller and present…

Why them?

Why their company?

The benefits to selling their home before asking them to enter a listing contract.

Does it not make perfect sense for an agent to take the time to sit with a buyer prior to their home buying search and present to the home buyer the same as the seller?

What would it mean to you to have your buyer under contract exclusively with you and your company instead of driving them around and showing them a large number of homes, burning your own gas, buying coffees and lunches and then they call you to say “ we didn’t want to bother you on a Sunday and saw the perfect house at an open house and bought it.

We wanted to thank you for everything you did and hope this house plant will look good in your office as a token of our appreciation.” I know this happens because it has happened to me. To protect yourself from the “house plant” scenario I encourage you to sit your home buyers down and share with them the benefits they receive from entering into the buyer agreement.

Tell your clients… “just like my sellers hire me to sell their home by authorizing a seller agreement, I also get my home buyers to hire me as their exclusive buyer’s agent and authorize this exclusive buyer agreement.”

The worst thing they can say is “no thank you” and you still can choose to work with them or not, but this is a great qualifying tool for any buyer and should only take less than an hour for a buyers consultation and prevent the 3 days, 20 showings, 1 tank of gas and end up with an office plant as a token gift outcome.

“10 Home WWIFM The Buyer Benefits To Them Having A Buyers Agreement.”

1. The Doctor/Patient Advantage (Client Confidentiality)
Let’s say your client is going from house to house and agent to agent, sharing their personal and financial information with everyone. When they do put in an offer, how does it affect their bargaining power if the Seller’s agent already knows everything about them? It is critical they share this information with only one agent, so it won’t work against them later. Their Buyer Agent is on their side, not the Seller’s side… make sure they understand the importance of this.

2. The Instant Information Advantage (No Communication Delays)
When your client is relying on the internet, newspapers, or magazines as their source for house listings it is important, they remember these stems all have built-in delays. These delays can be from a few days to a week before the listing actually makes it to them. How many of the hottest real estate deals or best buys make it that far before they are sold? Very few. Get your home buyer on the inside track with the most current and up to date information.

3. The Insider Advantage (Buyer, Meet Seller)
A great many hot properties are sold exclusively by sleeve or pocket listings, before they are even activated on MLS (Multiple Listing Service). These pocket listings are often sold well before the public even knows about them. In these cases, the Sellers who wanted to sell and Buyers who wanted to buy were introduced and made their transaction through the Direct Client program. Emphasize to your home buyer the importance of them having access to these types of home listings.

4. The Inbox Advantage (Convenient Auto Email Updates)
As an agent, I have the technology to be notified of a new listing on the MLS system by the minute, and then quickly notify my Direct Clients. I can use my privileged access to this listing data to get you in to see your perfect home before most of the other potential Buyers even know about it. Be sure to show your buyers the power of this.

5. The Invisible Listing Advantage (Find the properties that aren’t for sale)
As part of a large sales force, I am constantly in contact with other agents. They may have Potential Sellers: homeowners who would sell if they had a Buyer. We call this the “water cooler transaction”. I mention I have someone looking for a special kind of property, and the other agent has a property that fits like a glove but isn’t even on the market! Yet another benefit for your buyer to enter into an Exclusive Buyers Agency Agreement.

6. The Active Agent Advantage (Buyer Agents are prospectors).
Personally, I won’t just wait for listings in the Direct or VIP program: I’ll go out and find my buyer’s perfect home! I will prospect by telephone, direct mail or pound the pavement door-to-door, investing as much time as it takes to find their ideal property. Why wait weeks or months until it is listed for sale? Show them you are serious, if they will show you, they’re serious to work with you.

7. The Accountability Advantage (Contractual Obligations – For Me!)
Direct Clients hire me under contract, just like Sellers hire me under a listing contract. This ensures my Direct Buyers receive benefits other prospective Buyers do not. When we enter into this contract, I am required to perform specific duties within a fixed time, or the agreement is null and void.

8. The Easy Exit Advantage (Fire Me Anytime!)
If my buyers are unhappy with my services for any reason, I give them the opportunity to correct the situation. If the problem continues, then I promise them an unconditional release from our contractual agreement with no questions asked. This removes the risk factor from your client.

9. The Guaranteed Communication Advantage (I Promise Not to Disappear)
My home buyers can expect a regular delivery of prospective homes to consider and ongoing communication from me. I’ll keep them up to date on the hottest new listings, so we can beat the rush and get them in to see these properties before other potential Buyers. This way they will see the best buys first! Give your buyers the sense they will be treated preferentially if they agree to sign the Exclusive Buyers Agreement.

10. The Transaction Coordination Advantage (I’ll find the property, then help them own it)
There will be a large group of professionals involved in completing your buyer’s transaction: bankers, insurance agents, inspectors, appraisers, utility workers, and lawyers just to name a few.

All these professionals do not have time to contact each other and facilitate your buyer’s purchase. It’s a huge benefit for your home buyer to have an agent they trust, who will coordinate all these services on their behalf. Sell this benefit then ask them to sign the agreement.

I hope you see the advantages of having your home buyers enter into the Exclusive Buyer agreement with you as well as the benefits the client receives as well. Try it out and measure the effectiveness of the response you receive.

Bonus Item – Click to download Platinum Home Purchase Plan ( Value Proposition For The Buyer ) What you do and what Value You Bring. Literally your buyer presentation

Strength and courage,

Wade

Open House Strategies For Agents in 2024

Wade Webb on August 14, 2024

I always loved REALTOR© Open Houses to build my business and now is the time to prepare for the spring market and the open house season. Here are some of my personal favorite ways to prepare for and maximize your effectiveness and time invested into open houses.

Money Management For Agents

Wade Webb on August 7, 2024

I will never forget the time I was sitting in a seminar presented by T. Harv Eker on the Secrets Of The Millionaire Mind and the crowd of nearly a thousand people were all asked to bring with them a $100 cash bill to the evening session of the seminar for an exercise to teach us about our mindset and blueprint we all have about money. We are all asked to hold up our $100 bill and if you were unable to bring that bill with you then you were politely asked to leave this part of the seminar and demonstration.

We then watched a few of the seminar staff line up in front of the stage with burning candles for the crowd to begin to line up and prepare to burn your $100 cash bill to prove to yourself you are in control of your money and money is not in control of you. As I sat there, I saw a wave of emotion come over the crowd as some people are getting angry and others are starting to cry, and others are really showing no sign of emotion of what they have been asked to do.

Personally, I am sitting there saying to myself I can do this but honestly, I wish I could give it to someone in need or it go to better use but if I need to do this to prove to myself money is not in control of me then so be it. They slowly have the crowd stand and begin to line up in front of each of the staff members holding the open burning flame and let the emotions and energy build and build in the room. Then at the very last second, they say “ok, everyone sits down and put your $100 bill away and start journaling what you experienced and what you felt through that exercise.”

So how would you feel about doing that? Would the money control you or would you be in control of the money? Would it make you mad, sad or feel nothing? Here are seven powerful tips I used myself from Clason’s novel “The Richest Man In Babylon” and strategies for you to implement and be in control of your money in real estate and not the money in control of you.

A Part of all you earn is yours to keep.
The most powerful and most important message you read and hear from all experts in financial prosperity. “PAY YOURSELF FIRST.” Clason refers to this as “Starting thy purse to fattening” He uses the story of the humble egg merchant. If the egg merchant put ten eggs in his basket each morning and take out only nine by evening. Eventually what will happen? It will in time become overflowing. Or how about every ten coins you place in your purse you take out and use only nine. Your purse will fatten and soon will build increasing weight and bring you great satisfaction. Create a second account that is difficult to access and take that one egg, take that one coin, and let it build and overflow over time. Just like this merchant you too create an account at a different bank and set up automated withdraw into this account, that can’t be readily accessed to build up your purse.
Control your expenditures.
“BUDGETING” – All men are burdened with more desires than they can gratify. We have this false idea we can gratify our every desire. Clason states there are limits to your strength, limits to the distance you may travel, limits to what you may eat and limits to the zest you may enjoy. The key to controlling your expenses is taking the time to really identify your fixed expenses and eliminate or minimize your non fixed expenses. Discipline yourself to live lean and mean. Pay yourself your fixed expense amount at beginning of the month. Review Constantly – identify habits; implement cost savings i.e., basic cable or even no cable. Apply the same principle to your business accounts.
Make your gold multiply.
“INVEST” – The greatest opportunity and wealth building strategy we all have is buying what we know… Stocks, Bonds, Mutual, Commodities, Mortgages, Rentals, Loans etc. Clason states a man’s wealth is not the coins he carries in his purse, but it is the income he buildout, the golden stream that continually flows into his purse and keeping it bulging. Amortization in wealth building is key… Example: Only $5,000 per year or $416 / month Invested. Over 10 years – at 5% becomes 66K at 15% becomes 116K… Over 20 years at 5% becomes 173K at 15% becomes 589K.
Guard your treasures from loss.
“INVEST WISELY, CONSERVATIVELY” – Start by investing small amounts and learn to protect and grow those first. Clason said every man is tempted by opportunities where it would seem he could make large sums by its investment in the most plausible projects. So often we are urged by friends or family to eagerly enter these high return investments. Remember the risk or penalty is probable loss. TIP – borrowing to invest. Ask your advisor for their personal net worth statement. WORDS OF WISDOM – Invest only where the principal is safe and where the principle may be reclaimed if needed and where you will not fail to collect a fair return. Consult with wise men. Secure their advice and let their wisdom protect your treasures.
Make of Thy Dwelling a Profitable Investment
“OWN A HOME” – To a man’s heart it brings gladness to eat the figs from his own trees and the grapes of his own vines. To own his own domicile and to have a place he is proud to care of and put confidence in his heart and reward behind his endeavors. Discipline yourself to pay this home off. Blessings to the man who owned his own home. Greatly reduces his cost of living and making available more of his earnings to build his wealth.
Insure a Future Income
“SAVINGS” – It behooves a man to make preparation for a suitable income in the days to come, when he is no longer young and to prepare for his family should he be no longer with them to comfort and support them. It is important you maintain savings and have funds put away for many different reasons. Health, emergency expenses, major financial setbacks, or economic downturn. You will get old. You may get sick. You will die one day, and you should be prepared. TIP – wills, insurance life & disability
Cultivate, Study & Learn
“BECOME A STUDENT” – Constantly improve yourself and become more skillful. Act on these principles and have the discipline to learn and implement them. Then begin to teach them to others including your own children. Clason reminds us “There is more gold in Babylon my students than you could dream of. There is abundance for us all.”

So, there you have it, 7 powerful financial laws that made a difference with my control over money vs. the money having control over me. I challenge you to implement these strategies into your personal and professional lives and take control over the finances and win the money game.

Strength and courage,
Wade