Planning and Strategy Archives - Wade Webb Real Estate Coaching

Calling All Agents. What’s Your Plan For The Rest Of 2023?

Wade Webb on September 6, 2023

I don’t know about you but the first 6 months of the year and then my summer seemed to just fly by, and I cannot believe it is September 2023 already. The landscape of real estate looks a lot different now for a lot of us and I am sure we are all asking the question to ourselves, NOW WHAT?

We are beginning the last quarter of the year and for real estate sales professionals there are only two outcomes for us all. Will you finish in the red, or finish in the black? Will you finish strong, or will you miss your targets and goals? Winning near the end of a game, final quarter or the 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 Q4 and your 2023 strong.

1. Be Active – 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 Relational – 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 that 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. Anyone of us making a large buying decision needs to know 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 house, door to door, kiosk, networking, office duty, coffee, lunch, pop by, volunteer, client appreciation event or convention. This is a relationships business so get out there to create and deepen those relationships.

4. Stack-Rank Your Leads – 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 People – 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 2024 – How much revenue do you plan to book in Q1 2024? 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 Of 2023

1. Don’t Work with Any 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 Should – 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 just to get something before the year is done.

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

Positioning Vs Pricing – Win the Listing Pricing Battle

Wade Webb on November 9, 2022

Positioning Vs Pricing – Win the Listing Pricing Battle

Managing a sellers expectations based on the shift since March 2022 is no easy task for most agents in North America. You may be surprised to learn that lately up 60% of homes listed in my local area did not sell this fall and that will equate to nearly 6,000 homes in 2022 that were left unsold. So let me ask you this question. “Who is winning the pricing war?” The Seller or the agent? With the numbers like this I would say the seller. The next question I have is “Why?” Does any seller believe any other home compares to theirs? NO… of course not! So why bother using a comparable that just build up their defense mechanism?

The strategy and market today have changed and shifted on us all. Logic versus emotion is the secret to getting the seller to position their home correctly. Do you have a pricing presentation? If so, does it involve taking the time to really engage the seller on the importance of pricing? Are you “telling” or “showing and selling”? Meaning do you use visuals, dialogs, and statistics to back your pricing proposition. My Mentor – Jackie Leavenworth said, “We are not in the pricing business but in the property positioning business.” Try using a property positioning presentation and stop using a Competitive Market Analysis. To change the outcome, you must change the way you present your data. Don’t use “Actives” in your plan. The word Active gives the seller a false sense of reality. Putting a home on the market doesn’t necessarily guarantee activity or action. The Active listing should be called the competition or the enemy in your pricing plan, shouldn’t it? Try using something else other than “Expired”. Why not try using the term “Failed Homes”? Isn’t that what they are? Who would want to be on a list called Failed Homes? Instead of using “Sold” how about the wording “Successful Sellers”. Give your clients a real sense of pride by changing the way you communicate with them. One of my favorite Property Positioning visuals for your seller is the “Grocery Store Analogy”.

Ask your seller… “when you’re at the grocery store and are heading to the check out what are the two things you look for?” Shortest line and buggies with the least number of items… Correct? It is the same for your sellers. You need to advise them of the shortest line up and the line with the least number of items for them to become a successful seller. Help your client understand the other people in line are the competitors (or enemy) also waiting to check out. Then show them how the price they choose to list their home at will determine where they are in the grocery line. Then move on to show how many sellers who were in line are now a failed home as well as the fine few who have checked out the last number of months as a successful happy seller. It is crucial you remind them the positioning changes every day. When someone reduces their price, they move up and cut in front of them in the line. When another lists at a lower price it pushes your client further back in line. It is your job as an agent to advise your seller daily of where they are in line. Update them on who has joined the line and who has cut in front of them real estate presentation data. Ask them… “Mr. and Mrs. Seller where do you want to be in line?” “The decision is yours… do you want to sell or want to stay?” Take the time to present positioning vs. pricing in your real estate business.

Collect a bundle of visuals and materials to build your case on the importance of pricing and start winning the battle with sellers. As a result, you will sell more homes and help more sellers achieve their goals.

Strength and courage,
Wade

Plan For Success as a Realtor© in 2023

Wade Webb on November 2, 2022

Need help to plan for success as a Realtor© in 2023?

A mentor of mine said to me “agents aim for nothing and hit it with amazing success!” 2022 is wrapping up and what did you aim for? What did you hit?

It is the perfect time of year to aim for something in 2023 and hit it with amazing success! So when 2022 begins to wind down you should not wait until the very end to start planning for 2023. This means having a crystal-clear understanding of the successes and challenges of your current year, how it impacts your upcoming year, and developing a vision of what you want to accomplish, and how.

Many agents aim for nothing every year and most hit it with amazing accuracy!! I believe you should always start working on your next year strategy months in advance of the new year. This awards you enough time to make an impact on your final quarter and lay the groundwork for making sure your next fiscal year starts off on a solid footing.

For agents who want to achieve greatness, push the envelope, and grow their business through market share, market penetration, paying down debt, increasing sales, profits, and cash flow, I urge you to get going now!

The way I see things is, if your business isn’t growing, pushing the envelope, thriving, and maximizing profit, then all you’re really doing is suffering a slow death. Believe me, your competition is fighting the fight every day, and they didn’t wake up in the morning and say “Gosh, golly, I hope I stay even in 2023.” They want to eat your lunch, take your business, absorb your market share, and steal your customers away.

Some people might ask me if they should start planning by looking at their competition, and I say NO. Why focus on the competition, instead of focusing on yourself? When it comes to my business, I don’t care what others do. I care about what I do. Recognize your competition for what and who they are, and then put your best foot forward by pushing the envelope in your business. You should approach the new year as if you are going to battle, and for that you should develop a strategic plan.

Business Plan – a written document that describes in detail how a business, usually a new one, is going to achieve its goals. A business plan lays out a written plan from a marketing, financial and operational viewpoint.

FACT:

LESS THAN 3% OF REAL ESTATE AGENTS HAVE A BUSINESS PLAN

FACT:

ESTIMATED 3% OF REAL ESTATE AGENTS IN NORTH AMERICA DO 97% OF THE BUSINESS

“If you fail to plan, you plan to fail.” Writing a business plan may seem a daunting task as there are so many moving parts and concepts to address. Take it one step at a time and be sure to schedule regular review (quarterly, semi-annually, or annually) of your plan to be sure you are on track to meet your goals. It is that time of year again when we begin to build our plan for 2023 so let’s look at the key areas of the agent’s solid business plan.

Business Plan for the Successful REALTOR©

Step 1.)“Success and history always leaves us clues.” I began by looking back to identify the clues that have been left for us and the business. I would look at the real estate market first and search for the following clues. What have the number of sales been doing the last year? 2-5 years? Up? Down? What have the number of listings been doing the last year? 2-5 years? Up? Down? What have the average and median prices been doing? What price ranges are experiencing more activity? Less activity?

What neighborhoods or areas are experiencing more activity? Less Activity? What property types are selling more? Less? What buyer types are buying more? Where are the buyers coming from? Local? Next state or province? Over Seas? Imagine the targeted and strategic plan you would be able to build for you and your real estate business with this kind of information? Now you are not just winging it. You really know where and what to focus on.

Step 2.) Looking At The Present State of Your Own Real Estate Business. What have my sales been doing? Up? Down? What have my listings been doing? Up? Down? What is my average price? Can I raise my average selling price? What is my Gross Commission Income doing? What is my average deal worth? Where are my listings and sales coming from? Sources of business? What types of buyers do I represent? Where are the buyers coming from? Local? Out of area? What are my pending sales? What do I have for potential buyers and sellers? What is working? What is not working? What do I need to start doing again? Stop doing? What if you took the time to really track and measure and reflect on your business at a deeper level and see your strengths, weaknesses and opportunities of yourself and your own business?

Step 3.) Activity Plans – Take the time to lay out your activity plan calendar a year in advance. Focus on the activities you know you are good at and you see a return on your invested time and money. I am guessing for most agents it would be your sphere of influence, referrals and face to face or voice to voice activities. Set up a schedule for a month or two in advance of your activities for generating business. What is the activity? When? How? To Whom? Track and measure each of these scheduled activities to help identify the best of the best.

Step 4.) Budgeting – Profit is the goal in business. Knowing what your personal life and your business world cost you monthly is so important. Expense management is just as important as your income and earnings. Have a clear picture of your expenses and measure all of them for their return on investment or if they can be reduced in any way. I understand this my be terrifying for most of us to see what we are spending personally and professionally but it is the foundation of your business plan to know what your personal and professional lives cost and then be able to set a financial target that is enough to cover them both and leave you some profit! So many of us stay away from this and run in a deficit and that is not good practice for any of us.

Step 5.) Goals – If your “Why” is big enough the “how” will take care of itself. What is your purpose? Vision? Values? Mission Statement? Taking the time to know what it is you want and why you want it is a game changer for us all. Nothing gives me more joy than impacting and improving people’s lives personally and professionally every day. I have realized that the driving compelling force in my life is serving others and having the means to create memorable experiences with the people I care about most and nothing else has given me more joy than these amazing WHY’s in my own life. In my own real estate business, taking the time over the last 29 years to create a business plan has been so incredibly beneficial for me and I know it will for you as well. In today’s post I have given you a brief business plan overview. To help you get going with your own plan I put together a Step-by-Step Real Estate Business Plan Workbook you can download for free by signing up using the form below.

Strength and courage,
Wade

Realtors© Is It Time For A Reset For 2022?

Wade Webb on August 17, 2022

Realtors© Is It Time For A Reset For 2022?

Q3 isn’t over yet, but that doesn’t mean you shouldn’t be looking at the road ahead. What should you be doing now to start your Q4 planning? What steps can you take to ensure that you have a great fourth quarter? Let’s look at three different steps you can take now to bolster your fourth quarter success.

STEP 1: SET YOUR GOAL(S) – You can’t make plans without setting goals. Whether it’s one big goal you’d like to have accomplished by the end of the quarter, or a series of smaller ones, a concrete focus is a necessity for any planning you do. What should your goals be? That depends on you and your situation. No one knows your store like you! I always suggest that whatever goal you set should be attainable, but also something that feels exciting for you to hit.

STEP 2: REVIEW YOUR PREVIOUS QUARTER(S) – One of the best ways to set your goals and succeed in the next quarter is to review your previous successes and failures. How can you no where you’re going if you don’t know where you’ve been? Take stock of previous goals you’ve set, what worked, and what didn’t. It’s crucial to understand what worked in the last quarter and what didn’t. What goals were achieved? How? Which ones should carry over into the next quarter? How will the strategy have to be adjusted? Don’t be afraid to own up to past failures, either. This is a great time to examine how things went and if you incorporated new routines or techniques, how did they work out? Or, if the same ol’, same ol’ isn’t working out.

STEP 3: DO THINGS DIFFERENTLY – Don’t be afraid to change things up! Ask yourself: do I need to things differently, or do different things? This is a subtle but important distinction…and if you have any chance of closing your execution gaps and making this your best year ever, you MUST ask yourself. Take this time, especially before Q4, to look at the systems and procedures you have in place. Is your scheduling working?

STEP 4: RESET YOUR WORLD – Remember that little book, “The Life Changing Magic of Tidying Up”? Some people thought it was funny when Marie Kondo suggested you take every item you own in your hands and ask, “Does this spark joy?” But think about the power of that… Shouldn’t your things make you happy? I want you shake things up and give yourself a fresh start. Donate all the clothes you don’t wear to make room for new space. Buy some new art or paint your walls. Literally “spark joy” in your space. Resetting your space can also be a way of reinforcing your habits. If you want to do yoga in the morning, dedicate a yoga area and lay out your mat the night before. If you want to read in bed, clear off your nightstand and have a book always resting there. And here’s a powerful one… I want you to buy three living house plants. Name each one after one of your top three goals, then care for those plants as if they are those goals. Water them, trim them, and make sure they get sun every day. As you watch them grow, you just might see yourself growing closer to those goals.

STEP 5: REMIND YOURSELF WHO YOU ARE– Real estate is not an easy business. So, why did you get into it? Because you are a champion! You’re a Rockstar who can handle whatever the world throws at you. Not a lot of people could do what you do, and you need to remind yourself (to yourself, not to other people) of that. Know and believe in who you are again and why you chose this amazing business and career in the beginning.

DON’T STOP THERE!

These are only a handful of the things you can do to prepare for the continued success of your business. Commit to finishing Q4 in 2022 strong.

Strength and courage,
Wade

The Top Things The Pros Have In Real Estate

Wade Webb on September 15, 2021

Let me ask you a question. “Are you all in for real estate? Or are you just dabbling in real estate, hoping for what you’ve heard is quick, easy money?” Both of these types of agents exist in our industry. But only one has longevity… the real “professionals” will always outlast the “hobbyists.” Which begs the question: What does it take to become a true “professional” in real estate? What are the top traits of a true pro in the business. See how many of them you live up to?

Trait No. 1. They set goals, write plans, and execute on their plans. Implementation and execution. This one’s simple enough. Obviously to achieve big things requires goal setting and a business plan for how you’ll achieve those goals. Then it takes the discipline to actually execute your plan instead of getting distracted and pulled in a million different directions.

Trait No. 2. They have a strong work ethic, a “whatever it takes” spirit. Remember what I’ve been saying and what we see from our coaching members’ experiences: 10% of success is knowing what to do and how to do it. The other 90% is actually doing the work. If you’re not willing to work, if you tire easily, if you’re not fully committed… you’re not going to rise to the level of a true real estate “professional.”

Trait No. 3. They use technology to improve efficiency (speed) and provide a better experience for their clients (convenience) Being “pretty good” isn’t good enough. You need to be providing the type of service that wows your clients and gets them talking about you. That’s what professionals do. And they do the same thing when it comes to making things easier on themselves – by investing in technology to improve efficiencies in their business. Is your tech really moving the needle for you, your team, and your clients? Constantly delivering the unexpected.

Trait No. 4. They are good listeners & approach each customer with empathy, understanding, and respect. Put yourself in the consumer’s shoes. Make an effort to understand what makes them unique. Meet not only their housing desires but their emotional needs. Stop talking and listen.

Trait No. 5. They are knowledgeable about the process and know how to guide clients successfully through real estate transactions. Most agents probably say this one is a no-brainer. But what about when variables get introduced… how broad is your scope to successfully guide people through a transaction when there are “outside the box” factors involved? My point here is that you should never become content that you know it all, because there’s always a new twist to encounter coming around the bend. Keep learning, keep growing, keep improving how you do things. Always.

Trait No. 6. Professional realtors set realistic expectations for themselves and their clients – they don’t promise what’s not possible or reasonable. Professionalism is all about taking a long-term perspective. Hobbyists and hacks set themselves up for failure – or at best, short-term success – by overpromising and under-delivering. A recent 1000watt consumer survey found that “Open, honest communication” is the number one thing people are looking for to gain trust in their real estate agent.

Professionals provide honest, straightforward advice to prepare people for the realities of what they’re likely to face… and then they build long-term relationships with those clients in the process.

Trait No. 7. They delegate, when possible, to focus on their highest and best uses of time. You’ve heard me talk about your HABU – highest and best use of your time. But have you taken it to heart? Have you delegated tasks that someone could be doing for $20/hour to allow you to conduct more “dollar-productive” business? Have you explored hiring a Virtual Assistant to take the heavy workload off your desk? Have you systematized your business to free you up to focus on what matters most?

Trait No. 8. They market themselves and their homes for sale in a modern way. Using the best tools and mediums (MLS, video, direct mail, online ads) to generate the most exposure and hyperlocal response. It’s difficult to be a professional if you’re spending most of your time chasing new business. That’s why having effective marketing attraction systems is so important. When your marketing is automatically delivering a steady stream of new and returning clients, you can focus on providing the exceptional experience that keeps them coming back and referring you to their friends. If your marketing plan isn’t performing, I invite you to speak with one of our expert business consultants to help overcome the challenges you’re facing.

Trait No. 9. They’ve properly positioned themselves online, Google My Business, the portals, to all relevant social sites. Have you maximized your Google My Business page? If not, download this today. Are you engaging with people on social to grow your accounts? Are you posting consistently? Do you have a social media posting schedule or do you just “wing it”? Professionals have this stuff handled. Do you?

Trait No. 10. They respond to inquiries quickly, recognizing consumers expectations are “now”. Today’s consumer expects an Amazon-like experience. Push a button. Easy peasy. Results delivered overnight. Is it a fair expectation with something as complex as real estate? Doesn’t matter. That’s what they want, and it’s your role to respond immediately. And “I’m too busy for that” isn’t a valid response. Figure it out, or one of your competitors will figure it out and put you right out of business.

Trait No. 11. They know their local market, neighborhoods, schools, home price trends and all reliable home service providers. If you’ve been paying attention, I’ve been saying that agents should make studying the MLS part of their morning routine every single day. There’s no better way to make sure you’re dialed in when it comes to what’s selling, what’s not, how long properties are on the market, etc. Beyond that, I urge you to involve yourself in the community you serve and give back in a variety of ways – whether that means donating time and/or money to local causes or making videos informing people of local happenings and market conditions. Make yourself the “knowledge broker” in your market and share your expertise with the community.

Trait No. 12. They have a growth mindset, to maintain relevancy and confidence in their business. Because that’s what professionals do. Professionals aren’t content with the status quo. They don’t settle for “good enough.” Instead, they maintain a steadfast commitment to moving forward, growing their business and expanding their empire. And it’s not just talk or swagger – they back it up with action! So… how many of these 12 can you say you demonstrate on a consistent basis? What do you need to work on as a result?

Strength and courage,
Wade

The 2021 Final Quarter Push for Realtors©

Wade Webb on September 1, 2021

I don’t know about you but the first part of the year and my summer seemed to just fly by and I cannot believe it is September 2021 already. We are beginning the last quarter of the year and there are only two outcomes for us Realtors©. Will you finish in the red, or finish in the black? Will you finish strong or will you miss your targets and goals? Winning near the end of a game, final quarter or the year is a trait of all the best sales people 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 2021 strong.

1. Be Active – There’s no substitute for being pleasantly persistent and respectfully blunt. Get out there and be straightforward. Taking action 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 Relational – 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 that 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. Anyone of us making a large buying decision needs to know 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 house, door to door, kiosk, networking, office duty, coffee, lunch, pop by, volunteer, client appreciation event or convention. This is a relationships business so get out there to create and deepen those relationships.

4. Stack-Rank Your Leads – 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 take action 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 2021 strong.

5. Purge Your People – 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 take action. 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 2022 – How much revenue do you plan to book in Q1 2022? 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 quarter. 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 Of 2021

1. Don’t Work With Any 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.

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

Winter Is Always The Best Time To Buy and Sell a Home

Wade Webb on December 2, 2020

Knowing what the biggest objection you face over the next few months allows you the edge to be prepared when it strikes. We all know the #1 objection all agents are going to get from real estate buyers and sellers is “We want to wait until the spring to buy or sell our home.” So having the ability to change how the buyer and seller feels about waiting to buy or sell until the spring is imperative to your winter real estate success!! Don’t try changing their minds and building their defense mechanism up but educate them and change how they think and then they change how they feel about buying over the winter instead of spring. The fact of the matter is, the reasons and myths are endless so it’s our job as REALTORS® to be equipped with facts and a strong reality check to combat these reasons we hear every day. To help you educate the consumers through the winter season I put together some of my top reasons a client would want to choose this time of year to buy, sell and list a home.

Here Are The Top Reasons to Sell Real Estate Over The Winter

#1 – Only The Serious Buyers Are Looking Over The Winter – Yes there are fewer buyers, but those buyers are usually very SERIOUS about making a purchase or many HAVE to make a purchase. Who else would want to look at buying during the winter?

#2 – Fewer Winter Listings Means Less Listing Competition – Most sellers wait until the spring or summer to list, so your home will have far less competition. Spring = Greater supply = Same Demand = Less Money

#3 – January Is The Biggest Corporate Transfer Month – More corporate relocation moves happen during January than any other time of the year. Catch the corporate relocation buyers while you can.

#4 – Better Personal Prompt Customer Service – By putting the home on the market during the winter you experience better, personal and faster customer service from movers, lawyers, banks, insurance providers etc. Listing realtors have more time to better serve their sellers and get all the marketing strategies in place.

#5 – More Bargaining Time to Get More Money – By starting to market your home early, you may be able to secure a higher price with more listing exposure time. This season allows a seller to not be in a rush to sell and allow for more market exposure time and ultimately generate a higher price than in the spring.

#6 – Timing Is Everything. So Sell Now & Buy In The Spring – If your home sells quickly, you will be able to shop for your next home during the winter, a great time to find a bargain! More time to look and not pressure to shop and beat the other buyers. Sell first and then buy in the spring when the inventory and selection begins to rise for you when you are the buyer.

#7 – Standing Out In A Smaller Crowd – Most REALTORS® and offices have less inventory during the winter, enabling your home to stand out even more. Less marketing noise out there for the buyers and they see your home with ease now.

#8 – 20% Of Sales Still Happen During the Winter – Buyers and Sellers are usually quite motivated to get the transaction completed. We still have 20% of the business in the year occurring during the winter. This can mean less price haggling and fewer hassles during the process.

#9 – Buying Without Having Something To Sell First – By selling now you may have an opportunity to be a non-contingent buyer during the spring, when more houses are on the market! Less “subject to the sale” offers from buyers and you are not one of them when you are buying your next home.

#10 – No Yard Work When It’s Freshly Covered In Snow – Great time for a home that needs a yard make over to sell. No need to worry about your yard work. Snow makes it look fresh and white.

BONUS…..

#11 – Buyers Time Everything Too – Buyers begin the search and purchase for spring moves in January, February. Busy move times are March Spring Break, April Easter, May long weekend and July long weekends

#12 – No Pricing Wars With Others Sellers – Less choice for buyers means less sellers to play pricing against each other. Buyers will often make more concession in their buying decision with less choice

#13 – A Holiday Magic Feel To Your Home – Property shows well, almost staged with holiday décor adding to the ambiance. Tis the season for your home to shine!

#14 – Higher Quality No Looky Loo Showings. Little chance of quick showings and not being prepared to show your home. Easier time of year to make appointments and give sellers advance notice. Higher quality showings

#15 – Right Buyer, Right Time Odds – The odds are the same for the right buyer looking at your home regardless of the season. Right buyer, right time, right home

Here Are My Top 10 Reasons to Buy Over The Winter

#1 – Fewer Or No Multiple Offers – Little or no chance of multiple or competing offers for the buyer during this time of year

#2 – Better Personal Prompt Customer Service – Better service from all service providers like the agents, banks, insurers etc. Not as busy now.

#3 – Sellers Are Motivated – Sellers motivated at this time of year if still trying to sell from summer or fall. Sellers willing to negotiate, been on the market for some time now. Give and take.

#4 – Expired Listing Inventory – Buyers can shop the expired listings market, which has the largest selection this time of the year.

#5 – Better Closing Options – Good time of year to make an offer and do the due diligence, buyers can move quickly now or slower in the spring if not in a rush.

#6 – More Alternative Housing Options – Easier for sellers to find alternative housing, not as much pressure finding a rental vs. the really busy spring and summer season.

#7 – Contingencies and Subject to the Sale Of Acceptable – Great time for buyers to make contingent “Subject to the Sale” offers and get them accepted and movement on the price.

#8 – Better Available Moving & Service Providers – Easier time for a buyer to move and find help and services like movers, cleaners, storage.

#9 – Smoother Mistake Free Completions – Better timing for buyers on completions with lawyers, banks land registry. Not that busy and time to attend to you now.

#10 – Buyer Competition Lower – Less competition for the same property from other buyers on the deals that pop up this time of year.

Bonus…

#11 – Having More Time – Having time to make a decision and not be pressured in to offers or pressured into removing conditions or speeding up your due diligence time.

Now that you’re equipped with ammo to overcome any objection, educate the consumers and debunk the myths and go out there and list and sell some real estate this winter season!!

Strength and courage,
Wade

REALTOR© Business Planning For 2021

Wade Webb on November 4, 2020

A mentor of mine said to me “agents aim for nothing and hit it with amazing success!” 2020 is wrapping up and what did you aim for? What did you hit? It is the perfect time of year to aim for something in 2021 and hit it with amazing success! So when 2020 begins to wind down you should not wait until the very end to start planning for 2021. This means having a crystal clear understanding of the successes and challenges of your current year, how it impacts your upcoming year, and developing a vision of what you want to accomplish, and how. Many agents aim for nothing every year and most hit it with amazing accuracy!!

I believe you should always start working on your next year strategy months in advance of the new year. This awards you enough time to make an impact on your final quarter, and lay the groundwork for making sure your next fiscal year starts off on a solid footing. For agents who want to achieve greatness, push the envelope, and grow their business through market share, market penetration, paying down debt, increasing sales, profits and cash flow, I urge you to get going now! The way I see things is, if your business isn’t growing, pushing the envelope, thriving, and maximizing profit, then all you’re really doing is suffering a slow death.

Believe me, your competition is fighting the fight every day, and they didn’t wake up in the morning and say “Gosh, golly, I hope I stay even in 2021.” They want to eat your lunch, take your business, absorb your market share and steal your customers away.

Business Plan – a written document that describes in detail how a business, usually a new one, is going to achieve its goals. A business plan lays out a written plan from a marketing, financial and operational viewpoint.

FACT:

LESS THAN 3% OF REAL ESTATE AGENTS HAVE A BUSINESS PLAN

FACT:

ESTIMATED 3% OF REAL ESTATE AGENTS IN NORTH AMERICA DO 97% OF THE BUSINESS

“If you fail to plan, you plan to fail.” Writing a business plan may seem a daunting task as there are so many moving parts and concepts to address. Take it one step at a time and be sure to schedule regular review (quarterly, semi-annually, or annually) of your plan to be sure you are on track to meet your goals. It is that time of year again when we begin to build our plan for 2020 so let’s look at the key areas of the agent’s solid business plan.

Step 1) “Success and history always leaves us clues.”

I began by looking back to identify the clues that have been left for us and the business. I would look at the real estate market first and search for the following clues.

What have the number of sales been doing the last year? 2-5 years? Up? Down?

What have the number of listings been doing the last year? 2-5 years? Up? Down?

What have the average and median prices been doing?

What price ranges are experiencing more activity? Less activity?

What neighborhoods or areas are experiencing more activity? Less Activity?

What property types are selling more? Less?

What buyer types are buying more?

Where are the buyers coming from? Local? Next state or province? Over Seas?

Imagine the targeted and strategic plan you would be able to build for you and your real estate business with this kind of information? Now you are not just winging it. You really know where and what to focus on.

Step 2) Looking At The Present State of Your Own Real Estate Business

What have my sales been doing? Up? Down?

What have my listings been doing? Up? Down?

What is my average price? Can I raise my average selling price?

What is my Gross Commission Income doing?

What is my average deal worth?

Where are my listings and sales coming from? Sources of business?

What types of buyers do I represent?

Where are the buyers coming from? Local? Out of area?

What are my pending sales?

What do I have for potential buyers and sellers?

What is working? What is not working?

What do I need to start doing again? Stop doing?

What if you took the time to really track and measure and reflect on your business at a deeper level and see your strengths, weaknesses and opportunities of yourself and your own business?

Step 3) Activity Plans – Take the time to lay out your activity plan calendar a year in advance.

Focus on the activities you know you are good at and you see a return on your invested time and money. I am guessing for most agents it would be your sphere of influence, referrals and face to face or voice to voice activities. Set up a schedule for a month or two in advance of your activities for generating business. What is the activity? When? How? To Whom? Track and measure each of these scheduled activities to help identify the best of the best.

Step 4) Budgeting – Profit is the goal in business.

Knowing what your personal life and your business world cost you monthly is so important. Expense management is just as important as your income and earnings. Have a clear picture of your expenses and measure all of them for their return on investment or if they can be reduced in any way. I understand this my be terrifying for most of us to see what we are spending personally and professionally but it is the foundation of your business plan to know what your personal and professional lives cost and then be able to set a financial target that is enough to cover them both and leave you some profit! So many of us stay away from this and run in a deficit and that is not good practice for any of us.

Step 5) Goals – If your “Why” is big enough the “how” will take care of itself.

What is your purpose? Vision? Values? Mission Statement? Taking the time to know what it is you want and why you want it is a game changer for us all. Nothing gives me more joy than impacting and improving people’s lives personally and professionally every day. I have realized that the driving compelling force in my life is serving others and having the means to create memorable experiences with the people I care about most and nothing else has given me more joy than these amazing WHY’s in my own life.

In my own real estate business, taking the time over the last 25 years to create a business plan has been so incredibly beneficial for me and I know it will for you as well. In today’s post I have given you a brief business plan overview. To help you get going with your own plan I put together a Step-by-Step Real Estate Business Plan Workbook you can download for free by signing up using the form below.

Strength and courage,
Wade

So Why Do Agents Fail?

kelowna on July 5, 2017

I know, I know… what is up with the Agentsboost motivational topic about failure this week Wade? The market is really good and things seem to be going well economically and we should all be grateful for the business we have and maintain a positive mindset.

I get it!

I want to address the elephant in the closet in our industry and that’s the failure rates of agents. “N.A.R. states that 87% of all agents fail and get out of the business within the first five years of their career”. What is more important to us is why agents fail in this business within their first five years?

Top Five Ways Agents Fail in Real Estate

1) No Planning & No Strategies

My good friend Joe Niego said “So many agents aim for nothing and hit it with amazing accuracy!” I can’t tell you how many agents we see that don’t have a simple business plan and marketing strategies on how much, of what and by when the activities they need to accomplish their goal personally and professionally. Know and commit to the right activities!

2) Fail To Attract Enough Leads

Having enough buyer and seller leads simply comes out of having enough lead generation funnels. Agents try one funnel a little bit and it doesn’t work and dump it. Try another a bit and dump that. In order to have enough buyer and seller leads agents need a minimum of 4 lead generation funnels in their business at a time. So what are the better funnels Wade? The Core Four in our business:

a) Database touches 28-36 touches a year to your database
b) Open house where they come to you and meet you and tell if they like and trust you.
c ) Geographic farm where it is better to be an expert and niche at something rather than average at everything in real estate.
d ) Online leads are the quick and easy way to get you started and top you and your business up regularly.

3) Poor Conversion

LGT “Let’s Get Together” is the single most important activity and knowing what to say and how to say it starts the conversion. Get the consumers attention by asking about their challenges and fears in today’s market place and then invite them to meet with you and hear your solutions to their challenges in today’s market place. Don’t just give them what they want so easily so they are like a fish that you bring right to the boat and they wink and spit the hook out and just swim away!

4) No or Poor Service

Follow up, Follow up, Follow up. If they are a hot lead follow up every 2-3 days, a warm lead follow up every 2-3 weeks. Always do more so you will under promise and over deliver every time! As agents we want to be “insisted” and not recommended and we get insisted by delivering the unexpected and wowing and awing the customer every time! Serve, follow up, wow and awe them and create raving lunatic fans of you and your business.

5) Run Out Of Money

Income must exceed the expenses and the key to real estate success is Profit! We need to spend money to make money but more important we need to track and measure our return on investment with every dollar we spend. It amazes me how many agents don’t even know what the minimum amount of money they need to survive at home monthly or at work monthly is? What your life costs plus what your business costs plus profit equals your annual income goal! Profitability is not a bad word.

So there you have it the top five reasons why agents fail 87% of the time within the first five years in the business. I dare you to take each of these items and sit down and build a strategy and plan to ensure your success and defy the real estate success odds!

Strength and courage,
Wade

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