Agent Academy: The #1 Thing That Has Had The Biggest Impact On My Business…

I want to share the #1 thing that has had the biggest impact on my business…

I learned how to be a strategic, consistent and educated RISK-TAKER.

Here are rules to live and die by before you decide to take a business risk:

#1 RESEARCH TO MINIMIZE. Find others who have succeeded and ask them questions. Study the trends. Study the market. By studying the structure and path that others have taken, you can AVOID some of their mistakes and really lower the probability that you will fail.

#2 THE BIGGEST RISK IS NOT TAKING A RISK. The biggest failure you can have as a business owner is living in fear of “the floor”. You must understand that ENORMOUS opportunity lies on the other side of that risk you have been too afraid to take.

#3 TAKE RISKS CONSISTENTLY. Risk-taking is a muscle and you have to treat it like one. This is a rinse and repeat deal. Approach business with a mindset of “which is the right risk for me to take next?” and dive into that research. ALWAYS BE looking forward to your next risk even if you won’t take it for another 6 months or 6 years..

Be a risk-taker this year. Your business will thank you for it…

 

Agent Academy: My Crappy Video Crushes Your Perfect Video…

Let’s talk about that video content you committed to in 2020…

There’s one thing that has prevented you from crushing video in the past and its YOU…

Why? You were and will continue to be in the pursuit of the “perfect video”

Meanwhile, your competition is consistently posting content that is riddled with imperfections..

And GUESS WHAT? They are consistently getting your business too…

STOP worrying about what you look like on camera, or how you sound when you stumble over a word..

STOP trying to find the “perfect” setting and telling yourself you need a fancy camera and production team to post video…

All you need is a smartphone and a new mentality…

To find out what I mean by that, watch this short video. 

 

Agent Academy: Be Different Conference 2019

The Be Different Conference last year was sold out and with 662 Real Estate Professionals who attended the event!

I want to invite you to join the Be Different Conference 2019 in Hard Rock Hotel in San Diego, on November 14th.

There are 1,001 reasons why you should attend this event but I will give you seven (7) today.

1. James Harris, Million Dollar Listing Los Angeles. James Harris will share why you have to start being different today or you will be out of this business tomorrow.
2. Tristan Ahumada, Founder/Owner Lab Coat Agents. Tristan will educate us in detail on how we create differentiated value in a commoditized industry.
3. Kyle Whissel, eXp Realty. Kyle Whissel is the only man in San Diego in the history of real estate to be the #1 in terms of size and volume within the same year by REAL Trends as advertised in the Wall Street Journal.  He is also the #1 video influencer in North America by BombBomb.com.
4. Sara Kalke, REMAX. Sara Kalke is a single agent that closes over 120 deals per year without a buyer or listing agents but only an assistant team that supports her.
5. Zandra Ulloa, eXp Realty. Zandra Ulloa has grown quickly, she is now closing over $100 million per year. Listen to her and see for yourself what her clients and team see in her.
6. John Gluch, Platinum Living Realty. John Gluch runs an $80 million team. He lives in California while running his business in Phoenix. Take note that he is running a salaried business model.
7. Jon Cheplak, Coach to the Elite & Highest Producers in our industry. John Cheplak is a coach to high-end clients in real estate. He coaches real estate agents that have grown from 50 million to hundreds of million in sales. It would cost more than $2,000 to $2,500 to attend his Mastermind event. 

Do I need to say more? Our tickets are 25% sold already and we only have a maximum capacity of 350 this year. 

So get your ticket now for only $47 at www.bedifferentconference.com and Be Different to stay in this changing industry! See you there!

 

Agent Academy: How to Handle Price Reductions Like a Pro

There was a recent post on one of these popular Facebook groups asking if anybody out there has a template that they send their sellers with a market update on a weekly basis. Basically, the agent wants to keep the seller updated and possibly go into a conversation about price reduction when necessary.

So today I want to share with you my response to that question as I see a tremendous amount of interest on how I’m doing it.

You can also do this strategy — we are actually shooting a video, along with an attached CMA that we send to our sellers on a weekly basis!

I’m going to shoot one right now. It’s simple and I want you to get a feel for what they look like, and how we put them together that way you can do the same. 

Remember we do this every week and we do it every Tuesday. Every seller gets a new CMA, just like if you were coming out to the property with on day one and a video walking them through it — that’s the most important part.

Why is it the most important part? I’m sure we all do a great job of updating people or sometimes we send a market snapshot report to keep sellers relatively updated. The part we tend to ignore is, we are not walking them through how these details relate to your seller’s home.

I’m going to do a role play and you’ll be able to see what it looks and feels like. 

Take note of these important keys: The body language, Facial Expressions, and Tone. These are the things that we can’t communicate through email. And this is the reason why we like to do it this way. 

I can’t take all the credit for doing this because, in fact, I learned this from somebody in my Mastermind group, Kurt Wannebo. Kurt is actually a competitor in San Diego, but because we’re linked in the same Mastermind group, he was willing to share this 100% openly with me. 

It’s quite simple! You can use any system to create a video, attach the CMA, and you’re off and running. Now I have my computer up with my webcam turned on and I have the CMA so here we go.

Watch role-play (2:40 – 6:12)

And that’s it! So I created the video and sent it to them. They have the CMA and they were able to see my facial expressions.

Basically, I’m showing them through visual communication. That the current situation hurts me and is a tough thing. I’m encouraging them to heal and understand that we might need to make a change without me telling them directly to change the price. I’m letting them discover it.

Now, what’s different between this method and the price reduction call? Here’s what it looks like.

Agent: Hey, Mr. seller, Mrs. seller. Nice to talk to you… (chit chats) And I’m just going to get to what I’m really here to talk about. 

Seller: Okay, great. 

Agent: Now that I asked you about the kids in your weekend, how about we moved the price down 50 grand?

This way you put them in a tough spot, right? You’re saying to change the price right now. They feel backed into a corner and you got a ton of pushback. You’ll make them feel that there’s no back and forth. All they can do is just take the factual and objective information that I’m providing them.

Sure they might go through the same emotions that they might have on the phone. But with this video method, they can sit with it and digest it. Maybe get back into that CMA that market study and be able to digest it and cool off and once they’re cooled off, guess what happens? 

Our phone rings… “Hey, Dan, we looked over the information we might need to make a change. We think we might need to reposition to 700,000” 

Look at the scenario. We’ve taken the seller from, potentially, a very combative situation to a price reduction where the seller can see the information objectively with a cool head. They can process the emotion away from you and then come to you for a logical conversation. 

We all like the “Come List Me Calls”  but now you’d start getting “Come Position Me Appropriate in the Market” calls. 

This is not about always trying to get the price reduced. It’s all about getting the most that we possibly can for the sale of their home.

I hope this is helpful to you. Shout out to Kurt! Thank you, buddy, for having shared this with me. Now I’m sharing it with you all here at Agent Academy. 

Agent Academy: Why Some Agents Sell Houses But Stay Poor

Today, I want to talk about something that we as agents consistently fail to discuss, which is how we treat the money we earn.

Constantly we are more concerned with how do we generate leads? How do we generate commissions? With very little education, very little focus on what we do now with that money we did earn! And not end up in tax problems or living commission to commission.

We need to take that hard earned money and move it into a strategy that will build assets for us over the course of time so that eventually you can put yourself in a position where you have passive income coming in through investments.

I’m going to take you through four accounts that we at the Beer Home Team use.

If you want to have a better handle on your money I recommend you set up the same accounts, this will give you financial security for the future.

“I’m not a financial advisor. I’m not a financial planner, I’m not certified in any of it. And I don’t pretend to be. Take these concepts to your professionals and put together your strategy.”

When money comes in, there’s an account that you should have, for us, it’s our business account. The business account, this is where all of my commissions come in.

We also call it our revenue account and we pay expenses out of this account.

Additionally, every month, I have an automatic transfer go into a tax account.

With my CPA I think through where I believe my income will be at the end of the year, what will the tax liability be, and then I take that number divided by 12. And I move that into a tax account, on a monthly basis.

Furthermore, and maybe most importantly, you need what I’m going to call an investment/asset account.

At the end of the month, money left over in the business account I have an automatic transfer to the investment account. I transfer money into that account every single month, and I cannot do anything with that money unless it’s going to go toward purchasing an asset such as real estate.

Now we have a dedicated place for wealth building.

I’m going to recommend a book to you read The Richest Man in Babylon, because these concepts come straight out of there.

I know that a lot of us think I just barely make it out of the month, how am I going to squeeze a little bit off for that account.

The truth, if we really take an audit and look at how much money’s leaking out, $3 here $4 there and $5 there, whether it’s at Starbucks or your pack of cigarettes, or whatever you’re doing.

Put a minimum of 10% into the investment account still. Because there is an interesting law of money, where you’ll still just make it out of the month even after you take out that 10%.

Furthermore, I am an employee of this company. And I pay myself a salary, this is my personal account. My wife and I, we live out of here. We decide how much money do we need or want over the course of the month that we’re willing to spend and only use this account for them.

Our business retains earnings in the business account in order to reinvest into the business to improve. This pays for employees, office supplies and other expenses.

These are the four accounts that you need for your Real Estate Business

1. Business Account
2. Tax Account
3. Investment/Asset account
4. Personal Account

To recap; you need an automatic transfer into your tax account. You cannot avoid this one if you are making money. You can pretend like taxes are not happening. And then you can get a nasty surprise and go into back taxes and pay penalties or you can simply transfer automatically here every month.

Then put 10% aside to start investing. And you cannot touch this account unless you are putting it towards an investment.

Your personal account and only your personal account is what you live off of. Pay yourself a salary that fits your personal expenses.