Tips and Advice EVERY New Real Estate Agent Needs to Know

0:00if you're a new real estate agent these

0:02are the eight things

0:03that i wish somebody would have told me

0:06when i got started

0:07that i'm now telling you number one

0:11you're getting into a sales business

0:14i don't care what anybody else says out

0:16there

0:17real estate is in fact a direct

0:21outbound sales business which means

0:24you're going to have to

0:25pick up the phone call strangers

0:29and oh yeah by the way work on your

0:32skills

0:33don't think for one second that you're

0:35going to get in this business

0:37get your license pass your exam and then

0:39people are just going to start blowing

0:40you up on social media and start calling

0:42you

0:43to come and list their property any real

0:45estate agent will tell you the same it

0:47doesn't

0:47work that way you're gonna have to go

0:50out there and

0:50generate business on your own number two

0:54your skills are the absolute

0:57most important part of your business

0:59it's not marketing it's

1:00nothing else matter of fact i put out a

1:02poll to thousands of real estate agents

1:05on my instagram

1:06and i asked them i said hey what do you

1:09think is the most important part now

1:10that you're in the business what do you

1:12think is the most

1:13important part of a real estate agent's

1:15business and i asked him

1:17was it sales skills or your ability to

1:20market and over 90 percent

1:23of the poll came back and said sales

1:26skills i can tell you with absolute

1:29certainty

1:30that the people that decide to hire me

1:34as their agent over over the last

1:3616 years of being in this industry and

1:39the hundreds of homes that i've

1:40that i've listed and sold the thousands

1:43of homes

1:44people are doing business with me based

1:46on how i make them

1:47feel do i make them feel confident

1:50that i'm the right agent for the job you

1:53can only do

1:54that through skills it doesn't matter

1:56how sexy your website is

1:58it doesn't matter if you have velvet

2:00business cards

2:02that's not going to move the needle your

2:04skill set will be the only thing

2:06that determines whether or not somebody

2:09is going to be

2:10confident enough to hire you as their

2:13agent

2:14number three know right now

2:17you can absolutely compete and not only

2:20compete

2:21you can beat top agents you can beat

2:24experienced agents in your market

2:26if you'll master the marketplace if you

2:29understand the market better than any

2:31other agent

2:32these are the six different stats or

2:35ratios that i'm that i'm begging you

2:38with much love and much respect to go

2:40into your mls

2:41every single month and master number one

2:43is the number of active listings

2:45in the marketplace okay and so when we

2:48look at

2:49active listings this is the market how

2:52many homes are for sale right now number

2:54two

2:55how many new listings come into the

2:57marketplace

2:58every single month you need to be able

3:00to recognize that and speak to it number

3:03three

3:04number of homes sold okay that's a ratio

3:07called the absorption rate how many new

3:09homes are coming into the market

3:10how many are selling this will give you

3:13the absorption rate or how many months

3:14worth of

3:15inventory there is in the marketplace

3:17super critical for you and understand

3:19that

3:20number four the list price to sold price

3:23ratio someone lists their house at 100

3:26000 how much are they getting

3:27that's a ratio you need to know your

3:30ratio in your market number five

3:32average days on market i make the

3:34argument and my students know this to be

3:36true i make the argument

3:38this is the one ratio that drives the

3:41entire

3:42real estate marketplace for buyers and

3:44sellers

3:45average days on market timing is the

3:47most critical

3:49driving factor for a real estate

3:51transaction the number six

3:53average showings to get an offer how

3:55many times do we have to show the house

3:57on average to get an offer imagine a

3:59world you can articulate

4:01all six of those to a prospective seller

4:03when you're at an

4:04interview and you can do it in a way

4:06that positions you as a market expert

4:09okay next when we talk about beating the

4:12competition

4:12okay as a brand new agent you can do

4:15that not only by knowing the stats

4:17but by previewing homes you should be

4:20spending all the time because you

4:22probably have a lot of time on your

4:23hands right now

4:25previewing all of the new listings that

4:27hit the market

4:28every time a house hits the market in

4:30your local area that you're going to

4:32work

4:32you need to go schedule an agent preview

4:35go physically

4:36walk through the property this will

4:38allow you to know the marketplace know

4:40the homes

4:41inside and out no prices better than any

4:43other agent be a student of the game

4:46master the market number four get a

4:48coach

4:49okay this is so simple yet so many

4:52agents are not doing it because oh

4:53that's an expense

4:55you can't afford not to have a coach i

4:57mean here's the reality

4:59it's the age-old advice right if you

5:01want to succeed find somebody who has

5:03already done what you want to do and ask

5:06them how to do it

5:07so i have a link beneath this video if

5:10you'd like to talk to me about

5:12coaching and working with me i'd be

5:13happy to do so if

5:15it's not going to be me that's coaching

5:17you then go hire

5:19somebody else but believe me when i tell

5:21you

5:22coaching uh is is uh the cost of

5:25coaching

5:26is something that is so um you'll be

5:28glad that you did it because

5:30the amount of time that i can cut from a

5:32learning curve

5:33the the amount of um effort energy

5:35frustration

5:36money that i can save an agent when i

5:38coach with them

5:39it's it's not even close and you go

5:42watch some of the agents

5:43uh that are in my program and see what

5:45they say but

5:46get a coach this is not a pitch for

5:48coaching with me this is a pitch for you

5:50to get a coach because people have

5:52walked before you and success leaves

5:55clues number five

5:58focus on your database plus three

6:01additional lead sources this is the

6:04reality

6:06there are agents been in the business

6:07for 10 15 20 30 years

6:09still chasing zillow leads because

6:12they've neglected

6:13the most important part of their

6:15business which is their database the

6:17people

6:17that they know that they trust that they

6:20like

6:21and that they and that those folks like

6:23them

6:24your sphere of influence friends family

6:26past clients referral

6:27partners is the most important segment

6:30of your business you need to focus on

6:33communicating with that group

6:35plus an additional lead three lead

6:37sources

6:38for sale by owners expired listings

6:41and for rent by owners every agent needs

6:44to have those three in their pillar it's

6:45the lowest hanging fruit

6:47the easiest way to get now listings okay

6:50number six master your enlisting

6:53presentation

6:55when you get a shot to go an interview

6:57okay you get that call you do everything

6:59i i i ask you to do

7:01and you get that opportunity to go and

7:03interview for the job

7:05you've got to know you've got to be able

7:06to nail that presentation so at the end

7:08of the presentation

7:10the sellers look at each other and say

7:12you're the obvious choice we'd love

7:14to hire you number seven learn how to

7:17price

7:17property so i just talked about knowing

7:20the market stats

7:21previewing the property now you need to

7:23know how to actually

7:24do a cma or a comparative market

7:26analysis a price analysis

7:28you need to know how to price property

7:31and not only do you need to know how to

7:32do it what i also recommend

7:34is you call everybody in your sphere and

7:36offer up

7:37the free cma right you talk about

7:40providing

7:41value into the database imagine a world

7:43you picked up the phone

7:44okay i know it weighs a thousand pounds

7:46you're scared shitless of it you picked

7:47it up

7:48you called your top 100 and you said bob

7:51and sue

7:52hey uh you know i'm a new real estate

7:53agent as you guys know i got into the

7:55business

7:55i'd like to do a price analysis on your

7:57property for the simple fact of me

7:59getting an opportunity to practice

8:00and two you can have that information

8:03and so if you guys are okay with it

8:04i'd like to get a little bit of some

8:05details on your property and

8:07i'll send it in the mail right so many

8:10people will be so

8:11appreciative of that and you'll get

8:13really good at pricing property

8:14number eight make 50 contacts a day

8:18five days a week and you will win

8:21with 100 certainty pick up the phone

8:25have 50 5-0 conversations per day

8:29five days a week 250 conversations uh

8:32uh per week you cannot help but win

8:36i promise you if you do 50 conversations

8:39to your sphere of influence your friends

8:42your family business professionals in

8:45your market divorce attorneys cpas

8:46financial planners

8:47expired listings old expireds for sale

8:50by owners for rent by owners absentee

8:52owners

8:53if you do that you will absolutely win

8:56matter of fact i would actually bet that

8:59within

9:00two years you're the top agent at your

9:02company so

9:03if you're a brand new agent okay

9:06and you want to see how uh an agent in

9:10my coaching program

9:11is doing everything that we talk about

9:13how he's getting three

9:15listings a month as a brand new agent

9:18watch this video right here