In all my years of coaching and training brokers – this is the NUMBER ONE MISTAKE I see new broker/owners make. It is also the main reason for a new or younger office to fail. In this video we go into a detailed financial understanding and how to avoid this mistake.
The new behaviors:
In case you didn’t know, 48%+ of buyers now choose their own home. Agent didn’t find it for them. This statistic continues to rise. We used to have the secret knowledge; they now can find it themselves.
90% of the buyers search the internet. They are finding their own houses. They know their market better than many agents.
The days of the “Ad House” are gone. I’m shocked that anyone still spends money to advertise in the free home magazines in the supermarkets. The Ad House is the loss leader. It was to get the buyer in the door and the phones ring. Then, the agent would help them find the ‘right house.’ They don’t need you anymore for this role. only 4% of the buyers who called on the ad house BOUGHT the ad house.
Here’s the deal – you need to get them to buy the house they found from you. Agents have become order takers. I’m sure I just ticked a lot of agents off with this statement. Too bad. You want them to find their own house and then have you close the deal for them and take care of them. This is realtor marketing TODAY. As an agent you have to keep up with how buyers buy their homes now.
The average real estate agent claims to work full time. In reality, the average agent sold about 7 houses. 260 hours per transaction. That’s totally insane. You need to change this. Buyers want access to information. Get them to your portal early in the search process. You want to reinforce the information and send drip campaigns, once you know what they want. You become their trusted resource to complete the transaction properly and efficiently.
Stop prospecting – start marketing!
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FreeBrokerSchool.com is a resource to give brokers the advantage in running their offices. Hey – they know how to sell properties well, but they don’t always know all of the ins and outs of running a successful real estate brokerage. These videos are designed to give you the inside scoop from industry leader and success tornado, Mike Krein. You can’t take notes fast enough when he starts giving tips. These videos allow you to watch one nugget topic at a time, digest it and implement it to add to your success.
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