What’s The Plan For 2025?

Wade Webb on October 30, 2024

A mentor of mine said to me “agents aim for nothing and hit it with amazing accuracy!” 2024 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 2024 and hit it with amazing success!

So, when 2024 begins to wind down you should not wait until the very end to start planning for 2025 in your real estate business. 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 2024.” 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 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 may 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 30 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 below.

Strength and Courage,

Wade

Top Skills Most Agents Are Missing

Wade Webb on September 25, 2024

Top Skills Most Agents Are Missing

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

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

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

What Are the Elements of Skills in Real Estate?

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

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

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

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

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

Common Real Estate Skill Deficiencies.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Strength and Courage,

Wade

What Top Agents Have Learned To Never Do Again

Wade Webb on August 28, 2024

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

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

In short, they just “get it”!

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

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

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

Successful agents never again…

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

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

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

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

Strength and courage,

Wade

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

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?

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  • 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?

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What were your three most unproductive activities through June 30?

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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

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

  1. There’s been a new sale in the neighborhood that affects your value.
  2. Here are some of the responses we’ve received from other agents.
  3. Here are the responses I received from buyers I have shown.
  4. Here are responses I have heard from buyers shown by other agents.
  5. Here are the responses from the agents in my office.
  6. Here are the attitudes of the real estate agents who attended the Broker Open House.
  7. Here were the attitudes of the buyers who walked through your home on the open house.
  8. Here are the responses we have received from the ad that we’ve placed in . . .
  9. 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?
  10. Why don’t we increase the selling office commission? If I sell it, I will stick to the original terms of the listing agreement.
  11. May we add a selling office bonus?
  12. May we add points, so financing becomes easier for a buyer?
  13. 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?
  14. 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?
  15. May we offer preferential owner financing and make the property more affordable to any potential buyers?
  16. 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.
  17. 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.
  18. Is there anything we could throw in that would sweeten the pot, appliances, vehicles, maybe even a free vacation at a time share?
  19. 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?
  20. 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.
  21. 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.
  22. 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.
  23. 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.
  24. 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

The Time Management Struggle for Realtors ©

Wade Webb on May 22, 2024

Hands down one of the biggest challenges real estate agents have in their personal and professional life is using their time wisely. This week we look at a few strategies to help us manage our time better…. Run the day or it will run you – Part of the key to time management is just staying in charge. Here’s what usually happens: We start something and we’re in control, but as the day starts to unfold, we start losing it. It’s like running a business. If you don’t stay on top of things, the business will run you before long. You must stop occasionally, and say, “Wait! Who’s in charge here?” “Some will master, and some will serve.”

Here’s a good phrase to remember: “Some will master, and some will serve.” That’s the nature of life, and you must make sure you become the master. You must run the day. You must stay in charge. What is the key to staying in charge? You must always have your written set of goals with you. Prioritize your goals and decide which are important. Constantly review your goals, then make them a part of a good written game plan. With your game plan in hand, try to separate the majors from the minors, the important things from the things that you just must do. And prioritize. A little thought will save you a lot of time. Is this a major day or a minor day?

Adjust your time accordingly. Is this a major conversation or a minor conversation? A lot of people don’t do well in this area, and here’s why: They major in minor things. They spend too much time on things that don’t count and too little time on things that should count. Don’t mistake movement for achievement – You probably know some people around you who are just plain busy being busy. You’ve got to be busy being productive. Consider this: A man comes home at night and flops down on the couch. He says, “I’ve been going, going, going.” But the real question is, “Doing what?” Some people are going, going, going, but they’re doing figure eights. They’re not making much progress. Don’t mistake movement for achievement. Evaluate the hours in your days and see if there’s a lot of wasted time that you could manage better.

Concentrate on where you are – You’ve just got to zero in on the job at hand. Don’t start your business day until you get to the business. I used to start my business day in the shower. I’m trying to compose a letter in the shower. I’m not awake yet, and I’m trying to compose a letter. I found out that it doesn’t work that way. Wait to get to the office to start your work. Don’t start your business day at the breakfast table. It’s not good for the family, and it’s not very productive. So, here’s what you’ve got to do. On the way to work, concentrate on your driving. In the shower, concentrate on the shower. At the breakfast table, concentrate on the family. Wherever you are, be there. Don’t be somewhere else. Give whatever you’re doing the gift of attention. Give people the gift of attention. Concentrate on where you are.

Learn to say no – Boy, it’s easy in a society like ours to just say yes too much to over-obligate yourself. Then it takes all that time to back out of it. Don’t say yes too quickly. It’s better to say, “I don’t know if I can make it, but I’ll give you a call.” It’s nicer to say that than to back out later. Being too eager to please can be dangerous. You need to appreciate yourself, your time, your limits. One of my colleagues has a good saying: “Don’t let your mouth overload your back.” Being too eager to please can be dangerous. You need to appreciate yourself, your time, your limits. Know when your commitment to someone else will end up taking time away from yourself and your family. Appreciate your special time alone. And appreciate your time with those you love and those who love you. This is especially important when it comes to charity work. A group of entrepreneurs I know have been very successful in their own business. They get a lot of press. And they’ve been swamped with requests to do pro bono work. They must get a couple offers a month to sit on one charity board or another. Here’s how they handle it: They take all requests, weigh them for time commitments and evaluate them for opportunities. Then they take a collective vote on which two they’ll accept during the next year. You can’t immediately say yes to offers that sound prestigious. You can’t immediately say yes to social functions, even if they sound like a lot of fun. You’ve got to say maybe and take time to evaluate what’s truly important to you and what will just take time away from your ambitions and your family. Be eager to please yourself and your family. Don’t be so eager to please everybody else. Appreciate your own limits. You don’t have to fill up every second of the day; take time to appreciate what you’ve accomplished. Take time to enjoy the fruits of your labor.

Appreciate the little details – Your success should be a pleasure. Appreciating what you’ve acquired and what you’ve done and who you’ve become is important. It’s an important component in fueling your future achievements. Just knowing that you finished all you started out to do that day… that’s encouraging! It’s these little daily gains that continue to fuel your achievement. Let’s say you’re figuring out tomorrow’s game plan tonight, and tomorrow looks light. So, all you write down for tomorrow is “cleanup day.” Clean up all the little notes on your desk. Write all the thank-you note you haven’t gotten around to writing all week. Take care of a few phone calls that keep getting shuffled from one day to the next. It’s just minor stuff. Nonetheless, it’s the little stuff that keeps weighing you down until you get it done. So, you spend your day in cleanup mode. You file the notes, write the thank-you cards, make the phone calls. It’s not a major day. But at the end of the day, you feel you’ve accomplished so much. Why? Because you’ve taken care of so many little details. It’s the little details that can make a major difference. You feel like you’ve really achieved something during a day that started out to be so minor. Little achievements are just as important as big achievements.

Success is the constant process of working toward your goals, little achievement by little achievement. Little achievements produce big results. Anything is possible in those 24 hours we’re given each day.

Strength and courage,

Wade

What’s Your Mindset For Your Market?

Wade Webb on May 8, 2024

Mindset is a powerful force that shapes our thoughts, attitudes, and responses to the world around us. For real estate agents, cultivating a positive and empowered mindset is crucial for success in a competitive market. In this blog, we’ll explore this concept and discuss practical strategies to enhance it, focusing on the unique challenges and opportunities agents face.

mindset for your market

Understanding Mindset – At its core, mindset refers to a person’s way of thinking, opinions, and mental attitude. It encompasses beliefs and thoughts influencing our interpretations and responses to events, circumstances, and situations. It shapes our attitudes and habits, critically determining how we navigate the world.

Controlling Your Mindset – As agents, it’s imperative to take control of our mindset. External influences can sway our thinking, so it’s essential to intentionally shape our beliefs and attitudes, especially in the context of our profession. As the saying goes, “Who is controlling your mindset? Because if you’re not controlling your mind, someone, or something else is.”

Physiology Controls Psychology – One effective way to manage mindset is through our physical condition. The connection between physiology and psychology is undeniable – our body language, posture, and facial expressions impact our mental state. Tony Robbins emphasizes the link between motion and emotion, advocating for the conscious control of our physical state to influence our emotional well-being. As agents, maintaining a positive physical presence can significantly impact us, even in challenging situations.

Dress the Part – Embracing the role of a real estate agent involves more than just professional expertise; it also requires a mindset aligned with the market. Dressing the part is a tangible way to reinforce this mindset. When working in our capacity as professional agents, our attire should reflect the seriousness and professionalism of our job. This influences how clients perceive us and reinforces our commitment to the role.

Keep Your Workspace Impeccable – While we may not all drive luxury cars, maintaining a clean and organized vehicle is a simple yet impactful way to enhance our mindset. A cluttered and unkempt vehicle can create a negative impression and affect our market presence. By ensuring our workspace, including our car, is tidy and presentable, we project an image of professionalism and attention to detail.

Continuous Market Knowledge – Confidence and competence go hand in hand, and one effective way to build both is by staying informed about the market. Agents should invest time in continuously growing their market knowledge. This includes understanding statistics, staying updated on inventory, and familiarizing themselves with the latest listings. MLS tours, company tours, and independent property visits can contribute to a thorough understanding of the marketplace, bolstering confidence and competence.

“Whether you believe you can or believe you can’t, you’re right.” -Henry Ford. Telling yourself that the reason you’re not hitting your real estate goals is because of a lack of leads, no inventory, or the market in general, is really just a lack of confidence in yourself and your abilities.

They are false ideas and perceptions with regards to what it means to do lead generation, make phone calls, and close sales. If you adopt the idea there are always enough leads and always enough business, then it becomes more about the method of finding and converting than it does about career life or death.

If prospecting, follow-up, lead generation, and your calls have positive connotations in your head, then you will be unstoppable. If you have negative stories in your head about these activities and what they mean about you as a salesperson, then you won’t be successful.

Being productive and creative, making that next call, and even getting rejected are not things to dread. Cultivating the right real estate mindset means seeing these activities for what they are: stepping stones for producing value for your own life and for your clients. They are getting you closer to the life you want to live.

The success you want to have. In the competitive world of real estate, mastering your mindset is a critical factor in achieving success. By consciously shaping your beliefs, maintaining a positive physical presence, dressing the part, keeping your workspace impeccable, and continuously expanding your market knowledge, you can position yourself for excellence as an agent. Remember, a strong mindset not only influences your success but also contributes to the positive experiences of your clients in the real estate market.

Strength and Courage,

Wade