Jeff Glover leads a team that sells 1,000 homes annually. He spent spent a week attending training, and hosting some events. Here is what he learned.
The business of real estate
The employers of real estate are the listing agents. The employees of real estate are the buyer agents that run around and sell them. Based on a 3-year study from Jeff’s team transacting 1,000 homes a year, it takes on average 39.5 hours to represent a buyer and 19.5 hours to sell a listing. This is why top buyer agents max out at 3-4 buyers/month, and a top lister can do 7-10 listings/month. If you are not getting a lot of referrals, it is likely because you do not have a mission-based business… you are in it for the money only!
3 keys to succeeding with sellers
- Exposure. Production gives you lots of exposure and calls from people you do not know. Also, go expose your gifts to other people, instead of being a secret agent.
- Skills. Master scripts, dialogues and sales skills.
- Time. It is not time management, it is activity management. Referrals come during 3 “honeymoon phases” with the seller: 7 days after listing, 7 days after the house sells, and 7 days after closing.
Pro Tip: The toughest time you will have is with someone who has the opposite DISC leading trait. For example, D personalities have a tough time with S personalities, and I personalities have a tough time with C personalities.
Insights From Other Industry Pros
Dan Sullivan, Strategic Coach:
Most people spend all their time trying to be “interesting”, instead of “interested” in what the other person is saying. If your customer does not see the “light” of what you’re saying, they will eventually feel the “heat” of not getting what they want.
You have a choice between being a reactive hero in your business (reacting to crisis, breakdown, blindsided), or be a creative hero and give your clients confidence, clarity, and capability about their future. 80% of our time is spent trying to be a hero to someone that doesn’t want a hero.
When it comes to scheduling, everybody uses up all the time they get in a day…the issue is how they are spending their time.
Diane Chauvin, Top Windsor Agent:
If you want to sell a home fast and get top dollar for your listing, do not base the value on the recent multiple offer price. That price only happened because the agent priced the listing low, and created an auction.
Instead, price your listing at the asking price of the recent home that got multiple offers. The price the home sold for is not the value… this price is only a result of the asking price.
Always strive for more
Succeeding in real estate is about being nimble and ahead of the game. Learning from seasoned professionals will help you stay focused, and achieving more.