Real Estate Coaching Call - Key Strategies for Success

Understanding Market Challenges

• Rising interest rates are impacting the real estate market.
• Many Realtors are leaving the profession due to discouragement.
• Importance of maintaining energy and momentum despite hardships.

Long-Term Perspective

• Real estate is a long-term game; need to plant seeds before bearing fruit.
• Patience and faith in oneself are crucial.
• Success can take anywhere from 3 to 6 months, depending on various factors like network and effort.

Key Strategies for Realtors

1. Dial In and Focus on a Particular Region

• Cast a narrow net rather than trying to sell properties all over a large area.
• Become a powerhouse in your immediate area (e.g., where you live).
• Practical tips:
  • Interview local business owners and become a community voice.
  • Use social media to highlight local businesses and events without always pushing real estate.
  • Utilize flyers with QR codes while walking or running in the neighborhood.
  • Ensure presence at local events and school activities.

2. Be a Value Add in Your Neighborhood

• Create content that benefits local businesses and draws attention to your real estate practice.
• Example actions:
  • Interview restaurant and business owners.
  • Sponsor local events and place QR codes on items like water bottles.
  • Become a familiar, helpful face in the community.

3. Work for Free (Initially)

• Approach successful agents in your brokerage and offer to assist them for free.
• Tasks can include picking up signs, removing lock boxes, and running comps.
• Benefits:
  • Learn from successful Realtors.
  • Build relationships and a reputation within the brokerage.
  • Gain practical experience and exposure.

Building and Maintaining Momentum

• Network with successful individuals and surround yourself with achievers.
• Make a five-year plan to set realistic expectations and goals.
• Focus on planting seeds and making an impression in the first three months without expecting immediate results.

Common Mistakes to Avoid

• Setting false expectations of quick and easy money.
• Failing to prepare for showings and not understanding clients’ needs.

Day-to-Day Activities for Success

• Structure your day with consistent time blocks for different tasks like social media, walkthroughs, and client interactions.
• Do the same foundational tasks every day to build expertise and reliability.
• Example schedule:
  • 7:30 AM - 9:30 AM: Responding to emails and potential clients.
  • 9:30 AM - 10:30 AM: Creating social media content.
  • 10:30 AM - 12:30 PM: Walking through and evaluating properties.

Final Thoughts

• Focus on becoming a local presence and building new relationships.
• Stay committed and patient to see long-term success.
• Regularly re-evaluate and adjust strategies based on feedback and results.