What Do The Top Real Estate Agents Do ( Part 1 Of 2 )

Wade Webb on May 17, 2023

what top real estate agents doEver wonder what the top real estate agents do to be at the top? I attended an event with a mentor and friend Tom Ferry and was intrigued with the information he shared on what the Rich agent (top 5%) does vs. the struggling agent (95%) and that the struggling agent simply needs to know what the Rich agent does and do more of it to reach the same level of success. Have you ever wondered what the top 5% of Realtors do to get to this mastery level in real estate? Are you looking for momentum? Are you wanting a quantum leap? Is your desire to play bigger and live bigger than you are?

In this 2 Part blog post I will share with you the most important secrets of what the Rich agent is doing and what you need to do more of to experience it all. In Part 1, I share the 10 biggest gaps between the Rich agent and the common agent in their real estate business. As you read through the list take account as to how many of these are you doing and how many of these you are not doing. Also, rate each item on a level of 1-10. Level 10 is doing something consistently, daily and at a mastery level of skill. Level 1 is the opposite or not doing it at all.

So here are the top 10 common gaps.

1) Organized Database – The top producer has taken the time to sort, qualify and systemize a database with valuable sales and marketing information on each and every prospect. They in fact have 3 organized databases…

A) Sphere of Influence

B) Agent Referral

C) Lead Generation Prospects.

Do you have an organized database? 3?

2) Consistent Contact Of Database – The Rich agent has a daily time block (power hours) for sitting down and calling their database. Touching base and deepening their relationships and letting them know they are here to serve. Then before ending the call asking “Of all the people you know, who do you know that might be moving next?”

Do you have a consistent daily power hour(s) for contacting your database(s)?

3) Marketing Your Database – The top agent delegates or implements themselves an engaging consistent marketing strategy to their database(s) such as personal hand written notes after calls, newsletters, valuable information pieces, small gifts and tokens of appreciation, statistics, birthdays wishes, house anniversaries and on and on and on. “So Wade, what is the magic number of marketing items for your real estate database?” My answer to you is… the bigger the net, the more fish you catch. Meaning the more you add value to the database the bigger your return.

Are you actively marketing to your database(s)?

4) Geographic Farm – The mastery level real estate agent has implemented a farm lead generation system into their business. I am not talking about chickens and pigs but a specific geographic area that is experiencing over 6% turnover and creating a perception that you are the expert in that farm and potential clients would be foolish not to invite you to discuss their real estate business with an expert like yourself.

Do you have a geographic farm lead generation program in your business?

5) Open House Conversion – The Rich agent doesn’t do an open house for the sake of open houses, they do them at the mega open house level and focus on the lead conversion of their open house and NOT the lead generation. Are you displaying 20 open house signs around your open house? Do you have engaging value proposition questions to convert the lead into a buyer appointment? Do you do open house for the sake of open house or do you open house for lead conversion and buyer appointments? There is a difference you know.

Is it time to work on Open house conversion with you and your business?

6) Online Lead Generation – 94% of consumers are going to the internet first. The top agents know they need to be continually lead generating for appointments and why not have a strategy where all the fish are, like the internet? Are you using Zillow, Trulia, Realtor, Google Pay Per Click, Boomtown or Tigerleads? These are just some examples to create more online lead business.

Is it time to invest in online leads and generate more appointments with buyers and sellers in your business?

7) Niche Lead Generation – We have all heard it is better to be known as an expert at something than just average at everything like most agents. The top level agents are known for their niche and expertise. They focus on lead generation in their niche online and offline. Consumers look for the expert and not for the everyday agent.

Do you market as an expert to a specific niche? Is it time for you to consider niche lead generation for your business?

8) Listing Appointments – The rich agent is the agent with all the listing inventory. The have the home inventory in listings and the people inventory in names and contacts in their databases. More names mean more appointments. More listings mean more spin of buyers and sellers.

What number of listings are you carrying? Are you creating enough listing appointment leads to build your inventory? Is it time for you to implement listing leads and listing appointments?

9) Listing Appointment Conversion – Most agents take the time to create listing seller appointments but the money is not in the appointments but in the conversion. Top agents have the tools and systems in place to generate a high conversion rate on their appointments.

What kind of pre listing package do you have? What type of listing presentation do you have? What is your listing appointment conversion rate? 7 out of 10? 9 out of 10? Do you know how to engage and sell the benefits of a potential client doing business as a seller with yourself, with your company and to get them to do it now? Is it time for you to work on your listing appointment conversion for your business?

10) Buyer Appointments – The rich agent has a steady stream of buyer appointments. Their lead generation systems online and offline are allowing them to qualify hard their buyer leads and set up for buyer appointments.

Do you have a steady stream of buyer leads to be able to pick and choose to work with motivated and qualified buyers only? Do you have a pre buyer package? Do you have a buyer presentation? Are you signing your buyer to buyer agreements and not rolling the dice each and every time? Do you think it is time for you to create more buyer leads and a buyer agreement conversion method into your business?

Take the time to really assess your own business and the gaps you have that are holding you back from experiencing a mastery level in your real estate business. I encourage you… don’t just sit and wait for something to happen with your business… take action and create a quantum leap in your business. Start with one gap at a time and build from there. Is it time to stop living small? Is it time to close the gaps?

Feel free to email me any questions you have on how to close “your gaps”… I am here to help and serve. Make sure you come back next week when I share more of the things the rich agent does that you need to do more of.

Strength and courage,
Wade

Top Traits of Top Producing Realtors©

Wade Webb on August 24, 2022

top traits of top producing realtorsWhat are the top traits of top producing Realtors©?

Being successful is easy for a top producer in the business. That’s not an insult, and it absolutely does not mean that you don’t work hard – it just means there’s a formula. I’ve spent my career mentoring thousands of the top producing real estate agents around the world, and they’re all completely different, and yet they all have specific traits in common. Want to know what they are? Then keep reading…..

#1. They’re Uber Competitive and Possess a Growth Mindset. – Napoleon Hill called desire “the starting point of all achievement.” If you don’t really, really want to be the top producer in your market then you won’t be, because there will be someone who wants it more than you. But motivation alone isn’t enough. Always be checking your mindset and doing everything you can to keep it healthy. Make sure you’re meditating, exercising, getting enough sleep, and asking yourself why I want what I want personally and professionally?

#2. They Add a New System Every 18 Months. -This goes right back to your mindset. Where do you see yourself in 10 years? If you were to break that down into 18-month blocks, what are the steps you’d have to implement to get there? One of my coaching clients, all they did was step up their social media and email. Their direct mail was already bringing in plenty of business, but it was adding those extra steps that saw them grow. So, what is it for you? Double-down on video? Hire an assistant or some new agents? Start an ancillary service?

#3. They Know Their Market. – Don’t be fooled by that simple title. Yes, I want you to sign up with Keeping Current Matters, keep tabs on Housing Wire, CREA, Local board, Inman, and whatever other real estate news source you like. Yes, I want you watching all our shows and never missing This Week in Housing. You need to make it a part of your morning routine to read this stuff every day. What I also want you to do is bring some analysis and creativity to it. Find correlations between what is happening right now and what has happened historically. Find ways to explain this to your clients and prepare for objections. Beyond this, I want you to have a story for each house you’ve sold. You have stories for the market, but now bring it down to the micro-level. Tell your new clients about the families you’ve helped, know the names of every family whose gone in and out of a property, and show that there is a life behind every listing.

#4. They Have Great Marketing. – One of the most common things our clients come to their coaches about is help with marketing, because it’s not always easy to know what to do. You want to position yourself everywhere – except for all the places you don’t want to be. Do you have a marketing plan? Is your marketing plan effective? Ask yourself: Am I releasing video every day? How many signs am I putting out for every open house? How many emails am I sending weekly and how much do they offer? What could I be doing better? Also, don’t forget to stay current on This Week in Marketing.

#5. They Trade Money for Time. – I know that it’s scary to start hiring people when it seems like you can barely afford to pay yourself. But freeing yourself up to your HABU (Highest and Best Use) is the only way you grow. Your schedule is always going to be busy. The questions are: Could I pay someone to do this so I can focus on the tasks that really matter? Would hiring someone with different strengths than me help bring in more business? If you suck at marketing, stop wasting time and hire a marketing person. If you’re bogged down in paperwork when you could be at listing appointments, hire a transaction coordinator.

#6. They Have a Coach or Mentor. – I’m not going to try to sell you too hard here, but it must be on the list because it’s a fact. The top performing players in any industry will tell you that they have a coach. It’s not a sign that you need help, it’s a mark of greatness because you’ve gotten to that level and committed to your growth.

#7. They Make Their Calls. – When it comes to success, there is absolutely nothing you can do to replace the hard work. If real estate was easy, then 50% of agents wouldn’t be dead-broke while the top 10% (who make their calls EVERY DAY) are making millions of dollars a year. Show up, reach out and add value every day. Getting your hands dirty and making all those uncomfortable calls even when he didn’t feel like it.

#8. They Choose Their Hard. – I know, I know… Making cold calls is hard. Shooting video is hard. Hiring the right person… hard. Want to know what’s also hard? Not having money. You get to choose, because it’s one or the other. This formula is very simple, very straight forward, but it’s not easy. You can choose to struggle, or you can choose to lean in.

Strength and courage,
Wade

Top 10 Behaviors Of Top Producing Agents

kelowna on August 5, 2015

top 10 real estate agent behaviorsIt is so important to understand the behaviors of top producers and what it is they are doing to propel their business to the next levels. Success is easy to achieve in real estate if you understand sales and the art of customer service. Why is it that so many agents don’t take the time to invest in the proper real estate behaviors?

Top 10 Real Estate Behaviors of a Top Producer

1) Daily Focus On Lead Generation & ProspectingTop producers are constantly communicating with people and they are looking for someone who is wanting to buy or sell. They understand the importance of filling their appointment funnel. This activity is blocked in their schedule every day to ensure that their business doesn’t experience the highs or lows of most real estate agents and their business. It is like a professional golfer they are at the range every day and hitting their share of golf balls to ensure their success.

2) Prospect & Lead Generate In The Early Part Of The Day We have all heard the term “the early bird gets the worm” or “eat the frog first” which means do the most important activity in real estate being prospecting early in the day because the longer we wait the higher the chance it doesn’t get done. We have all the distractions come at us as the day goes on and the chance of getting the prospecting done diminishes quickly. We have less distractions in the earlier part of all of our days in the office when almost no one is around and the phones have not started ringing.

3) Tough On Pricing Their Listings The top producer knows what to say and knows how to present the pricing with a seller and has the skill to take control and explain to the seller the importance of proper pricing. We have all heard the term “less is more” and with pricing the tougher we are on the price the more the seller will make if we are strategically able to create multiple offers from pricing their homes sharply. Don’t let the seller win the pricing debate and have the visuals and words to say when facing the pricing war with sellers.

4) Focus On The Appointment The mindset of a top producer when they are prospecting is not ever on the leads and the amount of leads they can generate but their focus on the number of bona fide and qualified buyer and seller appointments they make. It is about the quality and not their lead quantity and will the buyer or seller appointment be with someone who is having to buy or sell in the nest 7 or 10 days. Get the appointments and not the leads because the appointments lead to sales presentations and getting them to sign the contract.

5) Track & Measure Knowing their numbers for everything they do in real estate is critical to their success. They know what they do well and what they do not do well. They know the best sources of where their business comes from. Their prospecting numbers, closing ratios and conversion rates of everything. This shows where they are improving and where they need improvement and the gaps and hole in their business from tracking and measuring constantly.

6) Review Their Business PlanThey are always working with a business plan and reviewing their plan and constantly looking for ways to improve and tweak or fine tune the business plan. They are focused on their plan from their constant review of the plan and know what they need to be doing every day to accomplish their goals. Nothing is left to chance and there is never any guessing involved when you are following and reviewing a business plan for your real estate business.

7) Fanatical With Schedules If you do not take control of your time, someone else or something else will. Time to a top producer is like water of oxygen and it is so precious. Time is always blocked for lead generation, prospecting, lead follow up, appointments, sales presentations, preparing and negotiating contracts which are all high dollar productive activities. They are intentional and almost fanatical with every minute of their day and know that dollar productive activities trump all.

8) Scripts, Dialogs & Sales Presentations Top producers are effective communicators and understand better than anyone what to say and how to say it when it comes to any buyer or seller situation they encounter. They practice over and over the right words to say and the right ways to say it and have the confidence in themselves and earn the trust and respect of others quicker because they have put the time in practicing and preparing for every situation they may face in real estate.

9) Standards The minimum standards are set for everything they do in real estate. A minimum standard for number contacts they make. Minimum standard for number of sales and listings. They even have minimum standards for their buyer and seller sales presentations. This standards are set and never compromised they understand the how you do anything is how you do everything.

10) Don’t Get Emotionally Involved Last but not least we see that all top producers are so good at being charge neutral when it comes to any situation in real estate. They remind themselves that at the end of the day it is not their money and it is not their home and it is not their decision and don’t allow themselves to become emotionally involved in the transactions they are working on. Take it from a twenty plus year veteran this is so much easier said than done.

We have taken the time to look at the behaviors and habits of the top producer and I hope you can see what you are doing and what you are needing to do to take your real estate business to the next level.

Strength and Courage,

Wade

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