FOUR CHALLENGES

Four Challenges and Solutions from the Front Lines of the Real Estate Industry

By Walter Sanford

There should be more profit-refining rather than adding a new layer of overhead or technology. Sometimes, the basics are not addressed when looking to increase the company’s or individual agent’s net returns.

1. Lack of training from top agents.

Many times, the agent who was average in production but great at the process becomes a training manager. There are broker/owners who just don’t have the time to train; there are the top producers in the office who don’t have the time or motivation to train; and then, there are the previously mentioned managers who took that job because it was as financially lucrative as production. Too many agents are not receiving superstar training in lead generation. I have coaching clients who receive training on process rather than lead generation at their offices.

There are many solutions, two of which are detailed below:

A A brokerage system that brings the top agents into the training and recruiting business -- the two best known systems are Keller Williams and

EXIT Realty. It is easy to reproduce these systems by giving better splits for listings sold or pieces of profit on new hires given to the introducer.

Set up systems in the office that promote production like meetings where everyone puts their best buyer and best seller together; where the office performs certain lead generation systems until agents commit to them like expired solicitation; where top trainers are brought in and agents are held accountable to new ideas.

2.Reliance on purchased leads.

Agents have lost their ability to prospect for sellers from hot demographics, because they buy leads from consolidators. If the purchased leads are good one year, they will go up in price or decrease in the number of leads in the next year. Agents need to prospect hot seller demographics blending “new school” with old school tools like direct mail, phone, follow-up, database, and closing abilities. The value you can offer certain seller demographics should be discussed at training meetings.

3.Offer macro-economic services.

An agent has the ability to offer great information on a local level. It is the only way to compete with national websites. Whether you develop neighborhood websites or a newsletter based on local statistics, honing your local value is the only way to beat national efforts.

4.Financially struggling agents who don’t understand budgeting, planning, and investing.

Many agents are struggling financially and they cannot devote their full attention to maximizing client satisfaction. They do whatever it takes to make the deal; they are in panic mode. With office services in place like setting up agent savings systems at close, training on tax-deferred investments, promoting real estate investing for groups, and budgeting analysis – offices have more agents who don’t live commission to commission. These agents are always better at making deals when the deals are based upon client satisfaction and not agent survival.

Before you attend another webinar from a trainer or a tech guy (who never sold real estate) as they try to make your job easier – take a step back and start firming up some of the basics.

Copyright©, Walter Sanford. All rights reserved. Walter Sanford has been designing and implementing real estate systems for 30 years. One of the most successful REALTORS® and now wealthy from his systems, Sanford teaches his systems and strategies through his products, seminars, and personal coaching producing the best results in the industry. Do what works, do what is proven. Hire Walter Sanford. Call our office at 800.792.5837, email walter@waltersanford.com, or chat with us online at www.waltersanford.com.

DAN JONES

Dan Jones had always felt a passion towards real estate, and in 2010 he decided to follow his intuition and obtain his license in order to manifest his goal of becoming a professional agent. After working on a team and solo for a few years, Dan decided to open up his own firm in 2015—Carolina Real Estate Experts; The Dan Jones Group—servicing the greater Charlotte area in North and South Carolina.

Dan’s philosophy on his trade goes way past the surface of simply selling houses and earning a paycheck. “The underlining reason for why real estate agents exist is to help people. As team leaders we also exist to impact our team members, because they will go out in the community and do things they learned here. Personally, I always like to better the people around me. Not by words, by just by actions. That’s been my number one drive,” he says.

Clients can count on Dan’s team to provide them with a personal level of attention, communication, and understanding. “People appreciate the amount of communication we put into each one of our transactions. We try to hold their hands throughout the entire process so that they feel comfortable and know what’s going on at every step. For us money is not the motivation,” he says. And Dan believes it’s crucial for his team to maintain a good home and work balance, so that they’re able to give their clients their best. The team also stays in touch with past clients through mailers and small gifts in order to show their appreciation.

Dan’s group is on track to make $90 million in sales this year with a small team, in large part due to their great marketing plan, which guarantees clients top dollar for their property and the teams’ hard work. They frequently employ targeted ads on social media platforms, and reach out to people in the neighborhood to find the right buyer.

For Dan making sure that his agents are in a supportive environment that aides their personal and professional growth is extremely important, and that same belief translates into his own life, which is why he is involved in various local charities. And when he isn’t working or giving back to the community, he spends the majority of his free time with family. Together they enjoy relaxing by the pool, going to the beach or adventuring into the mountains. Before COVID-19 and the implementation of statewide lockdowns, he also spent a good amount of time traveling with his wife.

As the year progresses, Dan has a few targets he still wants to hit. In the near future he is looking to transition some of his agents into more leadership-focused roles. And he also plans to hire additional support staff so that his agents can spend more time being out in the community, and with clients, doing what they’re best at—helping people. For Dan, it’s not so much about the growth of his business as it is about the continuous betterment of his team, because as he states, “I like to watch people grow.”

To learn more about Dan Jones Email dan@myhomecarolinas.com, Visit www.listwithdanjones.com

JEREMY LARSEN

Jeremy Larsen’s real estate career started out in the mid 90s, when he began working as a new home consultant. Fast forward to 2009, he decided to obtain his real estate license and embark on a fulltime career as an agent. Over the years he’s also designed about a 1,000 homes. Jeremy currently works with Berkshire Hathaway as a solo agent, serving North Texas.

Jeremy’s key to success and the main reason for his solid repeat and referral business is his construction background, as well as his approachable attitude. “People are comfortable with me. I really try to break things down for them. This is a service-oriented business that intimidates a lot of people. But clients know they can rely on me to give them my honest feedback. And given my construction background, they know that I know my way around a house. I’m not bashful about telling people when I think something won’t work. And my clients appreciate my candor,” he says.

Marketing is all about first impressions, and Jeremy makes sure everything about his listings is stated accurately in the description of the home, and that the property is ready to be seen by potential customers. And his tactics have worked splendidly, as he made 11 million dollars in sales volume just last year. But it’s not the financial aspect of this job that gets him excited about what he does. “I like helping people. A lot of people are so flummoxed by this process. I like that I can go in and provide a service where I am making the process less stressful for other people. It does not have to be scary or intimidating. It makes me feel good that I’m making what can sometimes be a very painful process of moving—if they’re relocating or their spouse died for example—I’m making this part of the process so much easier. And even firsttime buyers, they trust my expertise and know they’re in good hands.” In order to reach out to clients, Jeremy utilizes postcard campaigns. And when it comes to keeping in touch, following up on leads, or getting new business, he believes there are no shortcuts. “I always tell new agents the same thing. Answer your phone, return calls, and answer your emails. That’s how you stay busy in real estate,” he says.

Outside of work Jeremy is part of the leadership at his local Catholic Church where he volunteers along with his partner. And when he’s not working or volunteering, he loves to travel. He makes it a point to go on an annual cruise and visit New York, Las Vegas, and Colorado at least once a year.

In the future Jeremy plans on increasing the size of his volume. And in his 5-year-plan he’s also looking at high quality affordable housing initiatives and development projects. He also has some wise words for young agents: “Try to be a great resource for your clients. Be someone who is calm under pressure, and someone they can depend on.”

To learn more about Jeremy Larsen email jeremy.larsen@weknowtx.com, or call (214) 402–8894