Wade Webb, Author at Wade Webb Real Estate Coaching

Why Am I Failing or Quitting Real Estate?

Wade Webb on July 31, 2024

Nearly nine out of every 10 agents fail or quit the business? I’ve worked with and studied real estate professionals for 3 decades, and this week I am sharing some of the biggest reasons agents fail. Avoiding these pitfalls will help you join that elusive “Club 13” — the 13 percent of agents who survive and truly succeed in this business.

Being Interested vs. Committed. Just being interested in your real estate career isn’t enough. Liking houses and liking people isn’t enough. When you’re interested, you do things when they’re convenient. Success in real estate is all about being fully committed, which means doing whatever it takes as long as it takes to achieve your goals. Are you all in? If you’re not fully committed, it’s time to reassess your career choice. It is too easy to get in and even easier to get out.
Being Strategic. Can you explain your market trends easily? Do you truly know your market? What’s selling? What’s not? To survive in real estate, you need to look at your marketplace from a strategic standpoint. You must look at the hot sheets every day, the stats every month and know what is trending every quarter. You must own that knowledge and become the knowledge broker in your market. It’s not enough to simply like houses and enjoy working with people. Take a step back, analyze your market and make sure you know it, and you know your place in it. Now the numbers, trends and truth about your local market and share it!
Fear of Making Mistakes & Desire to Look Good. There’s a lot of vanity in real estate, which can lead to people shying away from anything that might paint them in unflattering light. But you can’t be afraid to make mistakes. Mistakes are how wisdom is gained. Mistakes are how we learn and grow. Accept it’s okay to make mistakes or not know the answers to everything. Try new things, see what works, learn from what doesn’t, and always keep moving forward. The more mistakes you make, the more you’ll bridge the gap between knowing and not knowing.
No (or Wrong) Role Model. Having someone to look up to, to aspire to, to model your behaviors on is a hugely critical step to help you reach that “next level” in real estate. Far too many agents have no role model for their business. Or they have the wrong one. To accelerate your ascent in this business, find someone who is successful in both life and business and model your behaviors on theirs. We all smell like those we rub up against.
Your Gas Station is Only Open One Day a Week for an Hour. Once a week you try something once and can’t figure out why nothing is working. As a real estate agent, your top priority is attracting customers. It’s not a part-time pursuit. Don’t get me wrong it is not 7 days a week 24 hours a day. Far too many agents do just a little bit of marketing once a week and hope for the best. Lead generation and lead conversion need to be your primary focus. If there was a way to teach every new agent this philosophy and force them to live up to it, that 87% failure rate would decrease dramatically. Focus on the “Core 4″… Database. Open Houses. Geographic Farming. Online Presence.
Job vs. Business Owner. Monday-Friday, 9:00-6:00 Mentality. Being a real estate agent isn’t a job. It’s a business. It’s YOUR business. You need to become and act like a business owner. You’ll get out of it what you put into it. Especially if you’re new, you absolutely must put in the time and effort. All the money is made before 9:00am and after 6:00pm. If that doesn’t work for you, you might be in the wrong business.
No Sales Swagger. Long ago NAR released a report that said most new agents come into real estate with no sales experience, no marketing experience, and no negotiation experience. What are the essential skills of succeeding in real estate? Sales. Marketing. Negotiations. Hmmm. If you haven’t mastered these three skills, you need to be working on them constantly. Put yourself in situations where you learn the objections, get hung up on and gain that experience. Putting yourself in those situations repeatedly will break down those fears of calling FSBOs, expired and the like. I often encourage brand new agents to work with FSBOs and expired to break them in with “the most challenging” clients. When you know what to say, everything becomes easier.
It’s Math. No Goals Broken Into Numbers That Get Measured. When you know your numbers, you put yourself in control. On average, how many leads does it take you to convert one sale? 30? Great! 162? Great! “I don’t know.” Not great! If you know your numbers, you know what you must do. If you don’t know your numbers, you’re just hoping for that winning lottery ticket. Knowing your numbers makes your business predictable. Being predictable leads to success. Know your numbers!
No Schedule, Weak Habits, and Routines. If you’ve followed me for a long time, you’ve heard me say it a million times: “Show me your routines and I can predict your future.” If your schedule isn’t aligned with your goals, instead of achieving your goals, you’ll end up wherever your schedule takes you. The key is figuring out the specific activities that will lead to the achievement of your goals. Then you schedule those activities. The role of discipline in your success cannot be underestimated. Schedule everything and find a way to hold yourself accountable.
Lack of Financial Management. Lots of people get into real estate thinking it’s a low overhead business with an opportunity to make big, giant paychecks. Those days are long gone. This business is so competitive, you need a funding plan not only to survive, but to invest in your business and build it in an efficient way. Make sure you’re managing your money smartly to avoid that 87% failure rate. Profit is not a bad word.

Now that you have a better idea of the causes for failure the next decision is what are you going to do with this information? What action are you going to take? Feel free to comment below what you plan on doing next to ensure you’re a member of the 13% Club!

Strength and courage,
Wade

Stuck In The Working Remotely Vortex Versus A True Vacation?

Wade Webb on July 24, 2024

The Oxford Dictionary defines a vacation as “an extended period of recreation.” It defines recreation as “activity done for enjoyment when one is not working.” So, strictly speaking, you can’t call it a vacation if you’re doing work.

Summer 2024 is here, my favorite season of the year. It seems like the first half of the year just flew by us so fast! Are you like me and tired of never really taking a good break or more importantly, is your family and friends tired of going on vacation with you because you’re working remotely?

Now be honest, are you taking a vacation this summer and planning to sit on your phone or tablet, texting or emailing while the rest of your family sit by the pool and enjoy the waves crashing on the beach while you were working remotely the whole time? Is that what a vacation for real estate agents is supposed to look like?

If you work remotely, your personal life and work life become intertwined to the point there seems to be no separation at all. Is there something very wrong with our mindset and business set up that can’t allow us to vacation 3 or 4 weeks a year and not have to work remotely?

What would a vacation be like with no mobile devices, no internet connection and cell phone reception completely unplugged and off the real estate grid?

What about to be in the moment and present with the most important people in your life? I need you to believe this is possible and here are some strategies that can make this type of vacation as a real estate agent a reality!!

Let’s break it down and commit to this (including myself).

Have a business plan with vacation planned for 3-4 weeks a year.
Have a licensed real estate professional covering your vacation times for you.
Emails forwarded to a licensed real estate professional who responds to them on your behalf
Auto Email responder set up explaining you are not available and who to contact if important.
Voice message on mobile explaining you are not available and who to contact if important.
Give your mobile device to the agent covering to answer and respond to your calls, texts, voice messages and pages on your behalf.
Partner with another agent and cover for them and their business for 3-4 weeks a year.
Choose to unplug and not bring your smart phone, tablet or laptop computers on your vacation and leave them to the covering agent.
Compensate the covering agent in some way whether it’s a gift, thank you dinner or a referral fee. I believe we all need to show appreciation and feel appreciated.
Leave detailed notes of all your listings, names, phone numbers, emails, sales, leads, etc. for the covering agent to manage your business better for you.

What happens every time before you are about to go on vacation? We get busy!

What if you planned every 6 weeks to unplug and get away. We could assume that we will get busy every 6 weeks during our year!

If you take a 4-7 day break you still come back and you are still busy, I guarantee it, but refreshed and recharged to crush it. If it is meant to be then it is up to me!

Choose to be on vacation and enjoy it, especially when you are spending your hard-earned money to create those moments, experiences, and memories with the most important people in your life that will last a lifetime. Be present in the moment and really relax and enjoy your time away and reload and re-energize to be able to come back and do amazing things in your business.

Strength and courage,

Wade

How Do I Hire Help as A Realtor©?

Wade Webb on July 17, 2024

Awesome! I just got some deals under contract, and have a lot to look forward to, such as hours of paperwork, setting appointments, coordinating with attorneys, lenders, inspectors… and… best of all, I’ll have no more deals lined up when I’m done.

Sound familiar? If it does, it’s about time to start hiring some help – specifically in the form of a transaction coordinator. But there’s a lot to consider before you do, and that’s why I’ll walk you through the process in today’s blog. Before I go into what to look for in a transaction coordinator (TC) or where to find them, let’s start with understanding the role.

What Is a Real Estate Transaction Coordinator? So… What is a real estate transaction coordinator?

Simply put, a transaction coordinator is a dedicated role that handles all of the paperwork, organization, and communication associated with a transaction. Depending on what state you live in, you may need to do some training to become a certified transaction coordinator, though certification isn’t required everywhere.

This position is all about organizational and communication skills, so making this your first hire is one of the surest ways to make your life a lot easier.

What Does a Transaction Coordinator Do? Now, we’ve already touched on it, but exactly what does a transaction coordinator do? Once you get a client under contract, a transaction coordinator is the one who takes the ball and carries that transaction all the way to close. That means they’re responsible for:

Scheduling inspections
Coordinating with the closing attorney
Coordinating with the lender
Handling all the paperwork
Taking care of the client, answering all their questions, and making this a pleasant experience during a typically stressful time

So, your Transaction Coordinator is more than just a paperwork processor – they’re vital to the image of your brand.

Do I Need a Transaction Coordinator?

I’m glad you’re busy, but ask yourself, “Am I busy working or am I swamped with ‘busy work’?” If what you’re doing isn’t bringing in the clients and scaling your business, then it’s something you should be paying someone else to do.

Having a TC will not only help you scale your business but also keep it running by preventing a realtor’s worst enemy – burnout (more helpful tips on avoiding that here). Sure, there are plenty of other roles that could help save you time such as an assistant or another agent, but for my money, the transactional coordinator is an essential.

What Should I Look for in a Transaction Coordinator?

First off, let’s start with the basics to look for in every person you hire. Even if you’ve never hired anyone before, you have a list of the traits you’re looking for memorized so you can spot talent when it arises. For that, check out this blog I wrote about what to look for in a new hire. Next, there are four main things to add to the list:

Customer service oriented
Knowledgeable about real estate
Proactive rather than reactive
Organized

Customer Service Oriented:

Remember, this isn’t just a paperwork gig. It’s a client-facing role. You need someone with excellent communication skills who will ultimately be representing your brand during a portion of the home buying process.

Is this person pleasant to talk to? Would you be comfortable with having them speak for you in your absence? A Transaction Coordinator can make or break your online reviews and ability to earn referrals.

Knowledgeable About Real Estate:

Now, a Transaction Coordinator doesn’t need to have a real estate license or be an expert on the local market, but as the title implies, they need to understand every step of the process.

Even if they haven’t been in real estate before, prior administrative experience is essential because they’ll be comfortable enough with systems to focus on familiarizing themselves with your world. With this position in particular, it would absolutely be worth paying extra for someone who has worked in the industry before.

Proactive Rather than Reactive:

You already have the deal in your hand, but don’t forget it could still slip through your fingers. Your TC should be the one comfortable reaching out to people first, checking in on clients before they have a problem, and handling small mistakes before they become big ones.

Also, they need to be honest with you about their workload and comfortable saying when they are overwhelmed. Your Transaction Coordinator should be able to cut you off from giving them more clients if they feel like it could compromise all their others.

Organized:

This is a hybrid job – half client care and half administrative. If you were to hire a salesperson for this role, they’d excel at one half and might make some crucial mistakes on the paperwork.

Virtual vs. In-Person. Online Transaction Coordinators are a big trend right now, and they certainly aren’t a bad option, but there are several pros and cons to consider.

Pros of An Online Transaction Coordinator

Less expensive
Likely has more experience in real estate
Easier to replace or find a temporary fill-in if something goes wrong
May be willing to work part-time – if you don’t need a full-time TC

Cons of a Virtual Transaction Coordinator

May not look as good for your brand, as in-person meetings are important to long-term client relationships
May compromise the quality and thoroughness of their work
May be living in a different time zone and have limited hours
You’ll be less able to integrate them into all aspects of the team

Ultimately though, the best option is the one that fits your situation.

Where to Find a Transaction Coordinator. Now that you have your checklist, where are you going to find this magical person?

If you’re looking for an online Transaction Coordinator, it’s as easy as going to Google, where you’ll find plenty of lists featuring reputable services like ConciergeClose, Transactly, and MyOutDesk, but you could also put ads out on LinkedIn and Indeed.

If you want to go the in-person route, run those same online ads, but also try reaching out to other agents in your area – this is probably the best course to go, anyway. Get in touch with local recruiting companies, and always make sure you’re able to interview candidates first.

Questions to Ask. Finally, we’re here at the interview. What kinds of questions are you going to ask? I’d start with:

What prior work in real estate do you have?
Do you know how many clients you can handle at a time?
How many closings can you do in a month?
When you get overwhelmed, will you ask to stop taking on clients or continue to take on more?
Will you be able to work outside your normal hours if something comes up?
Have you ever used the systems that we do? If not, are you willing to learn? (And ask yourself, do you have time to teach them?)

If you’re looking for more interview questions, you can find a longer list here.

Onward to Your Best Use of Time! I hope that this has helped, and I hope that you find the right TC who is going to help you even more. Now, I know I gave you a ton of criteria to look for, but we need to keep in mind that there are no unicorns out there.

Sometimes the right person isn’t always the perfect person (you can go ahead and steal that line and apply it to anything in life). If you’re drowning in administrative work and can’t seem to find your dream transaction coordinator, it’s worth hiring someone who is at least capable, ready, and willing to learn. Best of luck in your search!

Click to Download This Free Guide To Hiring Help….

Strength and Courage,

Wade

Dos and Don’ts For Agent Email Marketing

Wade Webb on July 10, 2024

You’ve undoubtedly heard that you need to be sending marketing emails. Real estate email marketing is known as the “Greatest marketing channel of all time.” But here’s the kicker… Bad marketing emails can hurt you just as much as good ones can help establish your market credibility.

Real estate email marketing requires precision and not generic ChatGPT copy which would only demonstrate how out of touch you are with your audience. This week, I’ll show you some of the best real estate email marketing practices, how to write marketing emails, and the mistakes to avoid.

What is real estate email marketing?

Real estate email marketing involves using email campaigns to connect with potential buyers, sellers, and other stakeholders in the real estate market. By building a targeted email list, segmenting the audience, and delivering personalized, engaging content such as property listings, market updates, and home-buying tips, you can nurture leads and build strong relationships.

Automated email tools and performance analytics can help you optimize these campaigns, ensuring timely and relevant communication that drives engagement and sales.

Best Practices and Tips for Real Estate Email Marketing:

Provide More Value – Here is the No. 1 rule of email marketing for realtors which even experienced marketers violate way too often: Give more than you are asking for. You can have some purely promotional emails, but the entire idea of “brand content” is to establish trust and form a relationship with your audience.

Every email should have a message, and if you don’t have something of value to contribute, then don’t send an email. If you don’t know what to say, it’s simple. Identify problems and offer the corresponding solutions. It’s actually a good idea to come up with a few real estate email marketing templates to take the pressure of writing format out of the equation so you can focus on the message.

Be Conversational – Besides delivering value, the second most important way to establish trust and familiarity is through your voice – what you say and how you say it. Adapting a conversational, honest, and friendly tone will make your real estate email marketing seems more personal and less salesy (which is one of the biggest mistakes below). I’m not saying you should be overly casual and say, “What’s up, how’s it going’?” but also, don’t be so formal that no one can hear YOU in there.

Use Stylistic Techniques – Keep sentences short and clear but also pay attention to the rhythm and cadence of what you’re saying. Just read a sentence out loud to know what I’m talking about. Stylistic techniques can make sentences flow more naturally together.

Anyone who says you can’t start a sentence with “And” or “But” or “Just,” doesn’t know what they’re talking about. Use ellipses and exclamation points sparingly but use them to add stylistic effect if that’s how you speak! It’s not about being grammatically correct; it’s about what’s easy to read and makes sense to express your voice. Use whatever you can to make your writing more clear, interesting, and consistent with your brand.

Be Yourself. Are you…

Funny

Motivational

Down to earth

Information driven

Quirky?

Own it. Your real estate email marketing should sound like your brand, which should sound like you. To sound more like yourself, it’s important to write about things you really care about. Write down what you value, what you’re interested in, and how you can genuinely help people. A word of warning, though: People can sniff out insincerity and manipulation from a mile away. Don’t ever do that. Your success will be in direct correlation to your authenticity.

Leverage Vulnerability – Every now and then, it’s a good idea to share something about yourself that shows a little vulnerability, as if you’re sharing a super condensed blog post. Was there ever a time when you were in a bad position in life where the services that you now provide could’ve helped you? Use it.

Tell a Story – Another fantastic way to avoid the curse of sleazy sales language in your real estate email marketing is to tell an interesting story to demonstrate your point. If you can provide value, use a trustworthy brand voice, and tell a story within just a few lines, then you just wrote a masterpiece email. Take an email you sent recently and try to come up with a super short story that represents your main point. This exercise will make you a master at writing emails.

Understand the Sales Funnel for Better CTAs – What are the stages of your customer journey? I know you’d love to just send someone an email and then they decide to list their home with you, but that’s a big decision that requires more familiarity. It’s critical to understand the marketing sales funnel to formulate effective calls to action. You want to make the leap seem as small and secure as possible – the obvious correct decision. So, instead of directly trying to get someone to list their home in an email, offer a CMA or annual equity report – something free that purely adds value without a price tag – and focus your real estate email marketing content around that.

Focus on Subject Lines and Hooks – There are a few ways to create a great subject line/opening hook:

Urgency

Curiosity

Controversy

Exclusivity

Benefits

Personal

Transparency

Below are some examples of real estate email marketing subject lines for each.

Email Marketing Subject Lines for Urgency

The window of time to sell for more is closing.

Quality homes are disappearing from the St. Louis market.

Do not list your home if the agent doesn’t know this…

Email Marketing Subject Lines for Curiosity

The real secret to getting more than the Zestimate.

The biggest mistake when selling your home.

Email Marketing Subject Lines for Controversy

I’m not saying that you should ever say something controversial that would isolate a segment of your audience. What I’m talking about here is grabbing attention by addressing a pre-existing controversy.

Selling through a portal is a mistake

Your home might not be worth what you thought

Mortgage rates won’t stop investors (this one also raises urgency)

Email Marketing Subject Lines for Exclusivity

Only 2 Equity Review Spots Available This Week!

{{Name}}, I just had a look at your Zestimate…

Personal Email Marketing Subject Lines

How I’m handling the new law changes

How I helped a family fulfill their dream

When I couldn’t afford my rent

Email Marketing Subject Lines for Transparency

Just say what’s inside the email. No gimmicks. This is particularly important if the email is particularly important and must be opened. That is not the time to get clever and start putting benefits in your subject line. Stick with something clear and simple.

Common Mistakes Made in Real Estate Email Marketing:

Being Too Salesy – It’s obvious and we already covered it, but it needs to be said again. This is a huge mistake. If you’re constantly harping on about the benefits of your services using bullet points, you’d be better off not sending the email at all.

Going Too Long or Too Short – There is no “correct” length for your real estate email marketing. In general, shorter is always better for an email, but never let space get in the way of your message, your benefits, or your brand voice. If you can stick to just three or four lines, that’s amazing, but if you have a longer story to tell, use the space you need to tell it if the hook is good enough to keep people reading. Once you’ve written your email, go through line by line and cut any words you can possibly stand to cut. I’ll be you there is a way to rephrase sentences to heighten the clarity and save some space.

Lame Adjectives – Awesome, Stunning, Cool, Winning, Best. Be careful with these and use them sparingly. Sometimes a little sales language is warranted and emphasizes your point, but often it’ll make you sound insincere.

Always Asking for Something – The opposite of providing value is sending out too many promotional emails that only state the benefits of your products and services. This does not create a relationship – it makes you annoying and people will become numb to it. Now, you could say that your services provide value and by getting people to use your services, you are giving value-add emails. That’s a lazy excuse for running lazy real estate email marketing. Yes, you can include a CTA in every email you send but try to offer something else in each send, even if it’s just insights into who you are and what you value.

Losing Focus & Going Off-Track – Each email should have one focused topic connected to one CTA – unless it’s a newsletter. You should be able to easily express the intention of your email in one sentence and provide a clear next step for everyone who reads it.

A newsletter is a little different because it will contain multiple bits of information which are relevant for different audiences. Be sure to clearly separate and organize the sections here so that people can get hooked by the headlines that resonate most with them.

Your Marketing Controls Your Market. The strength of every email you send will determine the success of your real estate email marketing campaigns. And the strength of your campaigns across email and every other channel you’re working will determine the effectiveness of your marketing – and that’s the lifeblood of your business.

Strength and Courage

Wade

Real Estate Agents Mid-Year Assessment Time

Wade Webb on July 3, 2024

real estate agent mid year assessment 2024

Can you believe the first half of the year has come and gone? Right now, is a great time to stop and take time to review the progress you have made during the first half of 2024 in your real estate business. Pull out and review your original 2024 business plan, the key strategic initiatives, and tactical sales goals that you set for yourself as a REALTOR.

Once you set your plan in motion back in January, did you review your weekly sales and listings (prospecting), lead generation (rain making) and marketing (presence) as well as your monthly strategic goals? Congratulations if you have! If not, I highly recommend you take time now at the beginning of this month to review and reflect your progress from the first half or the year.

To make this easier, here is a free mid-year real estate Review and Reflection Assessment tool you can implement to finish the second half of 2024 strong.

Your Name: ______________

Semi-Annual Review Year _________________

In this first segment of your annual review, we will look back at your production in the first six months of the year. This will lay the groundwork for reflection and ultimately our planning for the remainder of the year.

Let’s start with the basic issue first, your real estate business income:

What was your NET income goal for this year?
What was your actual NET income achieved through June 30?
How many listings/representations did you secure through June 30?
How many closings did you complete through June 30?
What was your average price/lease value per closing through June 30?
What was your average gross commission per closing through June 30?
What was your average net commission per closing through June 30
How many of listings did you lose through June 30?

Now we will review your prospecting efforts through June 30.

What new clients have you added as of June 30?

How many prospect meetings did you have through June 30?
What percentage of each day did you dedicate to direct prospecting?
How many hours have you spent on the phone through June 30?

Now tell us about your personal marketing efforts.

How many relationship-building meetings did you hold thru June?
How many conferences/tradeshows did you attend thru June?
How many times did you send a postcard/letter, flyer, case study or article in the mail?
How many times did you email an article, flyer, case study or something of value?
What was the average number of pieces mailed in each mailing?
What was the average number of emails sent in each blast?

Finally, let’s look at how you spent your time through June 30

How many hours per week did you work on average?
What percentage of your time did you work IN your business –
Doing deals, prospecting, negotiating, fulfilling, winning business?
What percentage of your time did you work ON your business
Planning/creating?
Reflection

Defining your progress in the categories above will help us dig deeper into the reasons for your success or the challenges you faced

List 5 items that met or exceeded your expectations in through June 30

List 5 items that did not meet your expectations through June 30

What were your three most productive activities through June 30?

What were your three most unproductive activities through June 30?

Write a summary in your own words to recap what the first half of 2024 looked like and what is going to happen the second half.

Once you download it you can fill it in now and then again in 6 month increments to compare your progress as time goes on.

Let us know if you have any questions…

CLICK HERE FOR FREE ASSESSMENT TOOL

I trust this tool gives you some insight and some clarity to really see where you have been, where you are at today and where you want to be by the end of 2024.

Strength and Courage,

Wade

Agent Stress & Distress In Their Business

Wade Webb on June 26, 2024

When we talk about your health and the enjoyment of your life weighed against the stress required to run your own business, what we’re really talking about is eustress vs. distress.

They’re two different forms of stress, and stress is what today’s blog is all about. Because particularly in a market like this one, stress is a major issue for real estate agents. But here’s the main thing you need to take away from this blog: as a real estate agent (or a human being in general), stress is unavoidable, but the type of stress you feel is what makes all the difference.

Thanks, Wade, but that doesn’t really explain what eustress is… Don’t worry! Because we’re going to explore what it is, why it’s important, the negative effects of its counterpart, and what you can do to shift distress into eustress. But first, let’s start by establishing the full scope of what we’re dealing with here…

What is a Stressor?

At the most basic level, a stressor is something that causes a state of strain or tension. But you knew that right? As a real estate agent, you probably have a million different stressors in your life right now. So why is this so important? Because of what strain and tension mean when comparing distress and eustress.

Do you realize how powerful strain and tension are? They’re what you’re putting your body through when you exercise, making yourself happier, healthier, and stronger. But they’re also what happens to your body when you’re in a car accident or come down with a virus. The difference is the level and the type of stress.

It’s important to recognize that stress isn’t a one-size-fits-all thing. It’s a spectrum. You need stress to get things done and live a happy, purposeful life – you just need the right type and the right amount, or everything goes wrong.

What is Distress?

Distress is a destructive version of stress that’s become unmanageable and frankly unproductive. All the way on the right side of the spectrum you have distress – an emotion that was once reserved for helping us escape predators in the wild but has now worked its way into just about every situation in our lives.

Our bodies and minds are not meant to feel this kind of distress constantly. Do any of these sound like you?

Full of anxiety and worry.
Tired in the morning and sleepless at night
Don’t feel motivated to make your calls or meet new people.
Craving junk food
Constant brain fog
The pressure is too much.

If you said yes to one or more, you’re likely living in a state of distress. If left unchecked, this could have serious consequences down the road and even lower your life expectancy. But if stress is a spectrum, there must be a better option…

What is eustress?

Simply put, eustress is the positive version of stress that motivates you and fills you with energy instead of tearing you apart.

Eustress doesn’t have any negative health consequences. In fact, it fills you with more energy and often encourages behaviors that make you live longer.

People who live in a constant state of eustress almost always exercise more and even eat better – because they’re MOTIVATED to do so!

It forces you to step out of your comfort zone in an exciting way and become the best version of yourself. It lifts you up instead of crushing you, and gives you dreams of a great future instead of nightmares of potential failure. People don’t succeed without stress, but what separates high achievers from everyone else is that they’ve found a way to tap into eustress to eliminate their anxiety and keep pushing forward.

So, if it’s always a battle of eustress vs. distress, how can you tap into eustress more often? I have a few ways…

Tapping into Eustress…

Tip 1: Learn Something New. Sounds ridiculous to add that on top of everything else, right? Now is the perfect time, because the first step of moving from distress to eustress is to keep your mind in a state of receptive learning.

In Zen Buddhism, they call this “Beginner’s Mind.” But I’m not saying you need to learn a language… Learning something new related to your business is even better. And lucky for you, this website is absolutely PACKED full of resources for that… What’s something you’ve always wanted to try but didn’t know where to start? Hosting better Open Houses? Geo farming? Direct mail? Click those links to get free guides that show you how top agents are making big money using these lead gen systems.

Tip 2: Get Out of Your Comfort Zone. But Wade, if I’m already distressed, wouldn’t going farther out of my comfort zone just make it worse? It depends on what you’re going out of your comfort zone for… If it’s for chasing the same old thing without thinking it through then yes, it might. But if it’s to gain inspiration, support, and experience, then that’s the fast track to eustress.

Tip 3: Take Your MEDSS. If you follow my content, you’ve probably heard this one before, but it needs to be repeated over and repeatedly. It all comes down to the fundamentals – your MEDSS:

Mediation
Exercise
Diet
Sleep
Supplements

At its core, stress is a result of either dopamine or cortisol. Eustress is triggered by mostly dopamine and a little cortisol. Distress is the symptom of too much cortisol and not enough dopamine.

A lot of people think that dopamine is a “feel-good” neurochemical, but that’s not true. Dopamine is about motivation because it’s the reward your brain gives you for doing something good. But there’s a difference between good dopamine and bad dopamine.

Good dopamine comes from completing a task and producing creative solutions. Bad dopamine comes from junk food, TV, and dangerous prescriptions.

Incorporating meditation, exercise, a healthy diet, and at least eight hours of sleep into your schedule is the most proven way to reduce cortisol in the brain and heal your dopaminergic system. Robert Butler of the National Institute on Aging has said: “If exercise could be packaged in a pill, it would be the single most widely prescribed and beneficial medicine in the nation.”

Rutgers University conducted a study that found that people who frequently meditated experienced a 50% reduction in cortisol levels. So, if you’re looking to transmute your distress into eustress, you need to take the time to take your MEDSS.

Eustress vs. Distress: It’s a Choice. Just like anything else in life, the type of stress you feel and its effects on your health are the results of your behaviors. What you do is often what you get.

If you have anxiety but you’re not seeking help, meditating, or expanding your mind, then I don’t know what to do for you.

Normally on lists like this, I’d tell you to choose one of the above and run with it, but in this case, I don’t think just one is enough. You need all three – this perfect trifecta – to free yourself from distress and light the fire in your belly that propels you forward (and if you need help, you know where to find me).

Strength and Courage,

Wade

Agents Knowing What To Say & How To Say It

Wade Webb on June 19, 2024

Why are real estate scripts so important? Real estate scripts are misunderstood. They aren’t about making you sound like a cookie-cutter robot or not allowing you to be yourself. It’s exactly the opposite. They’re about giving you a framework for communication so that you can break the ice and get your message across clearly.

Scripts give you the freedom to be yourself without fumbling for what to say next. If you came here looking for some effective Tom Ferry scripts, you’ll get them. But this blog is also about how to use real estate agent scripts more effectively. Once you have a great script and know how to use it, that’s where your greatness begins to shine.

What are real estate scripts? Real estate scripts are pre-planned, practiced conversations or text communication with specific phrasing meant to gain a reaction or form a connection with a buyer or seller. Emails and texts are also scripts.

There is an art to creating good realtor scripts and an art to modifying them. Bad scripts either lock you into a corner or give you too much freedom in the wrong areas so that the conversation flows in unnatural ways.

Here’s a bad script:

“Hey Dave, it’s Wade Webb ABC Realty. How are you doing today?”

“That’s good to hear. Have you thought about buying or selling real estate recently?”

“Well in that case, do you know anyone who may be interested?”

How do you use real estate scripts?

A good real estate script on the other hand makes it easy to pick up the phone. Good scripts usually work in two different ways simultaneously: As a direct script you can read off. Important for hooks and value points. As a template that can be adjusted as the conversation flows.

Here’s the framework of a great listing script.

Make sure your script checks off these boxes:

Gives you a sense of comfort and certainty when picking up the phone.
Interesting opening hook.
Sounds natural.
Adds value.
Objection handlers
Clear CTA and next steps.

Now, let’s dive into some tips on how to make the most out of your scripts.

Use Assumptive Language – Assumptive language is about making the person you’re talking to feel as if they’ve already taken the next step, such as “When we get together” or “After we sell your home for top dollar.” It paints a picture in their mind.

Keep it Simple Over Text – When it comes to email or text messages, you got to grab them fast. Here’s an awesome appointment setting script that does just that. Go to Zillow and take a screenshot of a past client’s home with the price included in it.

Next, put the picture in the body of an email (not as an attachment) that says: “Zillow says your home is worth $______. Do you agree with that price? I have my opinion. What do you think?” Simple, clean, and EXTREMELY effective.

Prepare for Objections – The entire point of having a script is to be prepared and always know what to say next. But the issue is, conversations aren’t a one-way street. Objection handlers are scripts in themselves. You can find objection handler scripts of their own or you can create your own to match any script you may be using. If you want to see objections handled masterfully, there’s no one better than Mr. Exactly What To Say himself, Phil Jones. Check out where he shows you how to handle objections. As you’ll see, it often comes down to leading the conversation through progressive questions.

Practice and Roleplay – The only way your scripts are going to sound natural and make your life easier is if they become second nature. That will only happen through practice and roleplay.

Top agents dedicate themselves to roleplaying and helping each other fine-tune their scripts through practice, feedback, and testing objections. Hundreds of Tom Ferry scripts are available to members through our online learning platform. Be sure to have scripts prepared for all these occasions:

Prospecting cold-calls
Database CRM and AER scripts
Expired listings scripts
Real estate referral scripts
Open house scripts
Real estate text message script

Stick to the Truth

Brian Boero, the co-founder of 1000Watt, one of the leaders in real estate data and brand building, has said that truth is always the best script. I fully believe in that. Realtor scripts are not meant to make embellishments sound like the truth.

Instead, they should make it easier to confront hard truths head-on without fear. Get the Prospecting Training You Need. If there’s one thing that can give you confidence in making your calls, having meaningful conversations, setting appointments, and closing deals, it’s training.

Strength & Courage,

Wade

Agents Top Tech For 2024

Wade Webb on June 12, 2024

When looking at the best tech for real estate agents to use in their businesses, it’s tough to make a definitive list. There are so many different uses, factors, nuances, and features that fit one agent better than another. That’s one of the reasons I wanted to stay away from software such as CRMs, which in most cases are anything but a one-size-fits-all. Still, there’s so much out there that agents need help finding what’s best. That’s why I created this list below – so you can stop digging for answers and start using the tools to increase your efficiency and effectiveness.

Real Estate Marketing. – To start off, we’re going to look at the best tech for realtors to help improve marketing. Marketing is essential to any business, especially a real estate business, as name recognition and brand identity are essential.

Prospective buyers and sellers want to see the work you do, which makes media like photos and video crucial to your success. By leveraging the power of real estate tech, you can improve your marketing efforts, grow your brand, and reach a broader audience.

Videoshop – Advanced feature-set video editing on the go, Videoshop allows you to add text and/or music, apply filters or slow-motion effects, and cut and edit videos directly on your phone. Videoshop is available in the Apple Store as well as Videoshop for Android.

Runway.ML – This AI is like an entire media studio all in one. It’s a superpower with so much to offer. Runway.ML will not only allow you to generate images, video, and more, but you can edit videos with AI. Let’s say you want to remove a person or an object from a video. Runway.ML makes it easy.

Canva – “Online design made easy” is the design app Canva’s claim to fame, allowing non-designers to create beautiful, Instagram-worthy photos, social media posts, marketing pieces, graphs and more!

Sprizzy – The more views your video receives, the higher YouTube’s algorithm rates it. Sprizzy for video exposure takes advantage of this phenomenon by charging a nominal fee to put your video in front of more eyeballs. And yes, they’re real people, not bots. If you need more exposure or are trying to “go viral” or increase your follower count, give it a try.

HomeBot – HomeBot is an AI tool that provides your clients with pertinent, personalized information about their home labeled with YOUR BRAND! It includes the current and historical value of their home, appreciation since they purchased, their equity, tips for saving on interest payments, and much more. These automated reports cement your status as your clients’ “knowledge broker” and keep them coming back to you with repeat business and referrals.

Real Estate Lead Generation. – You should be working on boosting your lead generation efforts every day as an agent. Finding leads can be challenging, especially if you’re in a highly competitive market where dozens or even hundreds of agents are competing for leads. To get a leg up on the competition, take advantage of the resources around you, such as apps for real estate agents designed for lead generation. Explore some of the best apps for realtors to attract more leads below.

PalmAgent – The calculator to end all calculators. This one could go under Marketing, Lead Gen, or Productivity, so I’m just putting it here. PalmAgent allows you to effortlessly run estimate sheets, build your brand, produce informative content that people care about, and more. There is a good reason it’s the most popular app for real estate agents.

Zapier – This one is hard to categorize because there are so many uses. Essentially it comes down to integration. Zapier allows you to integrate apps within one another. For example, you can hook ChatGPT up to your Google Business Profile so that any time someone leaves you a review, ChatGPT will automatically respond. This works for Facebook and other platforms as well.

EspressoAgent – The king of speed dialers. There’s a reason we include an Espresso Agent trial when you sign up for our bestselling training program, Prospecting Bootcamp. It allows you to easily find and dial listing leads for maximum efficiency and success.

ContactOut / SignalHire / Lusha – I’m grouping these three because they were all brought up together and they all perform essentially the same task: They find the additional contact info you need from people’s online profiles so you can call them, email them, engage with them and ultimately, work with them.

Camcard – This is probably my favorite one for Realtors. Camcard takes a picture of a business card and adds the details into your contacts, automatically. Very useful at/after conferences! Makes it easy to put all your new contacts into groups on Gmail.

Boomerang for Gmail – How many times has this happened to you… You meet someone, connect with them, send them an initial email, don’t hear back, and then you get too busy and forget to follow up ever again? Boomerang for Gmail can help you overcome this dilemma because it allows you to pre-schedule follow-up emails. Write it now, send it later. You can even set it to send the follow-up email ONLY IF your initial email doesn’t get a response. Check it out!

Real Estate Apps for Productivity – Being a real estate agent isn’t just showing houses and talking to clients. When you’re not in the field, you’re in charge of mountains of back-end work, such as making calls to leads in your database, producing marketing materials, and collaborating with your team. It’s during these moments that productivity can slip, which can end up hurting your business. Fortunately, there are several real estate productivity apps that can keep you focused and hold you accountable. Learn more about our highly recommended real estate productivity apps below.

Keeping Current Matters Mobile – You know Keeping Current Matters – if you don’t, you’re already behind. They’re the most trusted source of real estate news and data points. But did you know they have a mobile app? You should be reading this every day, so might as well make it easy!

ShowingTime – With high buyer demand right now, it can be overwhelming to schedule all your showings. The Showing Time app makes it easier than ever and allows you to get feedback to provide to your seller, review active listing inventory, and much more!

Dropbox – The Dropbox storage app isn’t a real estate-specific app, but it makes it so incredibly easy to store all your important documents in one place, you might think it was designed with real estate professionals in mind. You can organize files and view them easily from your phone while out in the field. You can access and send them from anywhere, anytime. Dropbox is also compatible with DocuSign, making it easy to get those much-needed signatures no matter where you or your clients are.

Zite – This is a great app that gives you daily updates on just about whatever you can think of. If you have used Flipboard (Flipboard recently bought the newsfeed app Zite), then you know how cool apps like this can be. They are essentially digital newspapers that can be tailored to your liking. The best part is you can share directly to any social media platform, which I do daily, to increase SEO and my social media presence.

IFTTT – IF This Then That – This is one of those apps that at first seems a bit overwhelming, but if you really sit down and think about how to utilize it, it’s extremely powerful. For those of you familiar with computer programming, IFTTT is essentially an “if-then” statement for your phone apps to work together. For those of you not familiar, you create recipes for your phone that if an action happens, then do another action. It’s more of a personal app than a Real Estate app, but a few things I use it for: When I get to the office, turn my phone’s Wi-Fi on. When I leave my house, turn my Nest (thermostat) temperature down. When it’s going to rain outside, send me a text. Send my Facebook statuses automatically to Twitter. Congratulate my LinkedIn Contacts automatically, for their new jobs and work anniversaries. There are thousands of recipes you can create, check it out! And, let me know your favorite recipes by posting in the comment section here or on the Tom Ferry Facebook page HERE.

Tally Counter – This tech is almost so easy, it’s stupid, but it works! It’s a digital counter, where you literally just click the “+” or “-” to add or subtract a running total. I use it to keep track of how many people come through my open houses (for those of you in crazy markets like mine, you know how hard this is). There are a couple of different options of the Tally Counter App available in the Apple app store and the Google Play store. Try them out and find your favorite one!

Mightytext – This is not an app, but an extension on Google Chrome/Gmail. Mightytext is such a useful app for Gmail, that I could mention it. It allows you to send text messages through Gmail, for free (unless you purchase the paid version that gives you more features), and most importantly, it sends the texts through your phone! Use this to send texts to new leads, and it appears to the lead that we sent the text from our phone (it shows up in my text log, and from our phone number on the lead’s phone). You can create template texts for which responses, send mass texts, and schedule texts (paid version), which we use to automatically confirm our consultation appointments.

Real Estate Use Every Day – There are some apps for realtors that are used daily. These apps are used for a wide range of reasons, such as calculating finances, communicating with team members, and simply unwinding before a big meeting. Browse these real estate apps that you can use daily to become more efficient, effective, and less stressed.

LawyersAgent ONE – This handy app helps you figure out buyers’ and sellers’ cost and net sheets. After filling out a few fully customizable fields and hitting the “Compute” button, it will tell you everything: The exact expected payment with principal and interest. Not only is this helpful when working with a client but also in your marketing. Fully integrated with social media, it will allow you to create an example post to give people a detailed look at what it costs to buy a house.

InsightTimer – Have you ever made the mistake of heading into an important meeting frazzled and scatterbrained? InsightTimer allows high-energy, always-on-the-go professionals like yourself a minute to unwind, re-center, and re-focus. The coaching member who recommended this said he’s seen his conversion level dramatically increase since he started arriving early at his appointments and doing a “micro meditation” before going in. Could you benefit from this same approach?

Linktree – Ever get sick of updating your Instagram profile to change your “link in bio”? Or worse yet, you don’t bother with it because it’s too much of a pain? Linktree provides a way to provide post-specific links easily and seamlessly from your Instagram account. Post, update, and manage your links from one central spot, and never change your actual “link in bio” ever again!

Slack – One system every business need is a communication system that connects everyone in the organization. Slack centralizes communications among your team into one platform. It allows you to create separate channels for different projects, and it also integrates well with more than 1,500 other platforms including Google Drive, Asana, Salesforce, and Dropbox. It’s more instantaneous than email and as easy as sending an instant message.

There’s a wide range of apps for realtors that you can use to become a better agent. Above, we explored real estate apps for marketing, lead generation, and productivity, as well as a selection of apps that span various functions and needs. By taking the time to test each out, you’ll be able to improve your workflow, increase brand awareness, and close more deals to grow your business.

Strength and Courage,

Wade

Your Value Proposition For The Buyer & Having A Buyer Agreement.

Wade Webb on June 5, 2024

One of the greatest documents created for the real estate industry in the last ten years, must be the buyer 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 and… the benefits to selling their home before asking them to enter a listing contract.

Agents need to take the time to sit with a buyer prior to their home-buying search and present to the home buyer…

Why them…

Why their company…

Why Their Plan….

and the benefits of hiring an agent to represent them on their home purchase.

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 many 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 Buyers agreement.

Tell your clients… “Just like my sellers hire me to sell their home by authorizing a listing contract, I also get my home buyers to hire me as their exclusive buyer’s agent and authorize this buyer’s contract.” 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 buyer’s consultation and prevent the 3 days, 20 showings, 1 tank of gas and end up with an office plant as a token gift outcome.

Buyer Benefits Having An Agreement (For The Buyer!!)

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.
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 systems 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.
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.
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.
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.
The Active Agent Advantage (Buyer Agents are prospectors) Find it, not wait for it!
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.
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 this contract, I am required to perform specific duties within a fixed time, or the agreement is null and void.
The Easy Exit Advantage (Fire Me Anytime!) Easy Exit
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.
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 Agency Contract.
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 Buyers 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.

Strength and courage,

Wade

Price Repositioning Strategies For Agents

Wade Webb on May 29, 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 to do while battling another agent’s high evaluation or how to 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. At the listing presentation this information was gone over, 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 counteroffer 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