Sell It Like Serhant: Expert Sales Techniques Unveiled

July 26, 2023Last updated on: July 19, 2023Published by: Harley Quinn 0

Sell It Like Serhant

Welcome to the ultimate guide on how to Sell It Like Serhant. In this article, we’ll dive deep into the world of expert sales techniques, as unveiled by none other than Ryan Serhant, a renowned real estate broker and sales expert. Throughout his career, Ryan has achieved remarkable success in the competitive world of real estate by employing innovative and result-oriented sales methods.

Whether you’re an aspiring salesperson, a seasoned professional, or an entrepreneur seeking to elevate your selling game, this article will provide you with the essential knowledge and actionable tips to excel in your sales efforts. Get ready to transform your approach to selling and witness a significant impact on your results.

The Charismatic Art of Selling

Selling is more than just exchanging goods or services for money; it’s an art. Ryan Serhant has mastered this art and established himself as a sales icon. Let’s explore some of the key techniques that make his approach stand out:

1. The Power of Storytelling

In the world of sales, storytelling is a potent tool that can captivate and engage potential customers. Sharing anecdotes and success stories not only humanizes the sales process but also builds a strong emotional connection with the audience. By incorporating personal experiences and relatable narratives into your pitch, you can create a lasting impact on your prospects.

2. Embracing Rejection: “Next!”

In sales, rejection is inevitable. However, successful salespeople like Serhant embrace rejection as a stepping stone to success. Their ability to bounce back quickly and maintain a positive attitude is what sets them apart. The “Next!” mindset allows them to swiftly move on to the next opportunity without dwelling on setbacks.

3. Building Genuine Relationships

Building meaningful and authentic relationships with clients is crucial for long-term success in sales. It’s not just about closing a single deal; it’s about fostering trust and loyalty. We’ll explore some tips on how to nurture lasting relationships that lead to repeat business and referrals.

4. Leveraging Social Media

In the digital age, social media has become a game-changer for sales professionals. Ryan Serhant is a master at leveraging various social platforms to expand his reach, showcase his expertise, and connect with potential clients. Learn how to harness the power of social media to boost your sales effectiveness.

5. The Art of Negotiation

Negotiation is at the core of every successful sale. Understanding the art of negotiation, including when to be assertive and when to compromise, is vital for closing deals on favorable terms. Discover some tried-and-true negotiation techniques that can give you the upper hand in any sales situation.

6. Crafting an Irresistible Sales Pitch

Your sales pitch is your chance to make a compelling case for your product or service. We’ll break down the elements of an effective sales pitch and provide you with valuable insights on how to tailor it to suit different clients and industries.

Establishing Your Sales Foundation

Before diving into advanced sales techniques, let’s lay a strong foundation for your sales journey. Here are some fundamental steps you should take to set yourself up for success:

1. Understanding Your Product/Service

In-depth knowledge of what you’re selling is non-negotiable. Familiarize yourself with the features, benefits, and unique selling points of your product or service. This knowledge will instill confidence in your prospects and make you an authority in your field.

2. Identifying Your Target Audience

To sell effectively, you must know who your target audience is. Conduct market research to identify your ideal customers and understand their pain points and desires. Tailor your sales approach to resonate with their specific needs.

3. Crafting Your Value Proposition

A compelling value proposition communicates the value your product or service brings to customers better than anyone else in the market. Learn how to create a persuasive value proposition that convinces prospects why your offering is the best solution for their needs.

4. Setting Realistic Sales Goals

Effective goal-setting is essential for measuring your progress and staying motivated. We’ll guide you through the process of setting realistic and achievable sales goals that will propel you towards success.

5. Enhancing Your Communication Skills

Communication is the backbone of sales. Mastering both verbal and non-verbal communication is essential for building rapport, understanding customer needs, and delivering your pitch effectively.

Mastering the Sales Process

Now that you’ve laid the groundwork, it’s time to master the sales process itself. Follow these steps to guide your prospects through the sales funnel and convert leads into delighted customers:

1. Prospecting for Leads

The first step in the sales process is prospecting. Discover effective lead generation strategies to expand your pool of potential customers and keep your sales pipeline full.

2. Qualifying Leads

Not all leads are created equal. Learn how to identify qualified leads that have a higher chance of converting into paying customers, saving you time and effort.

3. Conducting Productive Sales Meetings

A successful sales meeting involves more than just presenting your product or service. Discover the key elements of a productive sales meeting and how to steer it towards a successful close.

4. Overcoming Objections

Objections are a natural part of the sales process. Instead of avoiding them, embrace objections as an opportunity to address concerns and demonstrate the value of your offering.

5. Closing the Deal

The culmination of your sales efforts is the closing stage. Understand different closing techniques and find the one that aligns best with your style and the needs of your clients.

6. Following Up and Building Relationships

After closing a sale, the relationship-building process begins. Learn how to nurture your customer relationships to encourage repeat business and referrals.

FAQs

FAQ 1: What makes Ryan Serhant a successful salesperson?

Ryan Serhant’s success as a salesperson can be attributed to his exceptional storytelling abilities, resilience in the face of rejection, and a genuine passion for building relationships with clients.

FAQ 2: How can I improve my negotiation skills?

To enhance your negotiation skills, practice active listening, remain calm and composed during negotiations, and aim for win-win outcomes where both parties feel satisfied.

FAQ 3: Is social media essential for sales success?

Yes, social media has become a vital tool for sales professionals. It allows you to reach a broader audience, showcase your expertise, and engage with potential clients.

FAQ 4: What are the key elements of an effective sales pitch?

An effective sales pitch includes a compelling introduction, clear value proposition, relevant examples, and a strong call-to-action that encourages the prospect to take the next steps.

FAQ 5: How can I build a strong foundation for my sales career?

Building a strong foundation involves understanding your product, identifying your target audience, crafting a persuasive value proposition, setting realistic goals, and honing your communication skills.

FAQ 6: What is the role of prospecting in sales?

Prospecting is the process of finding potential customers for your product or service. It’s a crucial step in expanding your client base and keeping your sales pipeline active.

Conclusion

Congratulations! You’ve now gained valuable insights into the world of expert sales techniques as unveiled by Ryan Serhant. Armed with the knowledge and strategies presented in this article, you’re well-equipped to excel in your sales career and achieve remarkable success.

Remember, successful selling is not just about closing deals but about building authentic connections and delivering exceptional value to your customers. Embrace the journey, learn from every experience, and continuously refine your skills to Sell It Like Serhant!

eXp Realty

How To Make A 100K Your First Year In Real Estate

March 29, 2022Last updated on: July 4, 2022Published by: John Kinnunen 0

The first year of a new career venture is crucial, setting the foundation and tone for future success.

The real estate industry is fierce and competitive and can take years to build up a substantial, steady income. While the average earnings for real estate agents hover around $15,000 the first year in business, with hard work and learning from established professionals, it is possible to earn ten times that.

Whether you are coming from a realty-related background or switching industries entirely, you will be able to take some of those elements that made you a success and apply them to your new real estate business.

There is also much to learn with some necessary and practical steps to take to help start your new career off with a bang.

Free Training on How You Can Make 6 Figures in Real Estate without Prospecting.

Is Real Estate A Good Career In 2022?

Your local real estate market fluctuates depending on the area’s financial stability and a variety of factors that are within and without your control.

The greatest tool you have is your work ethic and willingness to do whatever it takes to succeed. The global health pandemic has the entire business world on its end, and that includes the real estate industry.

The need to buy and sell houses has not waned, however, and as life begins to return to some sort of normality, it is anticipated that the real estate market will explode. Now is the perfect time to take the necessary steps to boost your realty business as you prepare for a successful first year as a real estate agent in 2022.

How To Survive Your First Year In Real Estate

As you embark on an exciting career as a real estate agent, learning from those who have succeeded before you is key to understanding what it takes to start making significant income. It will take long hours of work, study, and establishing relationships to build up the kind of business to earn six figures in the first year.

The following are common sense examples of actionable tips you can use to propel your realty career to success from the very start:

Create Comprehensive Digital Marketing Plan

Even before COVID-19 forced the world to work and learn remotely, the best way to build up a real estate business is by implementing a comprehensive digital marketing plan. Social distancing and quarantine guidelines emphasize digital communications and conducting business of all kinds online.

Learning how to utilize search engine optimization will help put your listings and your realty business in front of those actively searching for you online. Paid online advertising and the analytics that drive marketing decisions are more essential than ever to attract new clients and to promote listings and showings.

Utilize the Power of Social Media

Social media networks like Facebook and LinkedIn are powerful marketing tools. One of the first stops a prospective client will make is to use your social media profile and content to find out more about you and how you conduct business. Make sure your business profile is updated, professional, and approachable. Make your personal account private to avoid confusion and conflicts.

Different platforms draw various kinds of users, so it is important to populate and update accounts on multiple outlets, keeping your branding and imagery consistent across all platforms. Use your social media accounts to provide links to available properties, and informative and engaging content that buyers and sellers will find useful and entertaining.

Professionally-Produced Photos, Video

With sellers concerned about in-person showings during the pandemic, buyers rely on photos and videos for virtual tours and comprehensive imagery to evaluate homes for sale. It is worth the expense and effort to hire professional photographers and videographers to capture the property most accurately and in the best light. Drone footage is popular for larger properties with expansive lawns or acreage. Attaching keyword alt tags to photos and video content will help put the listings in front of people actively searching for a property that meets their needs.

Get The Word Out!

The first step in getting the word out about your exciting, new career is to let those closest to you know. Start with the people that are in your immediate spheres of influence, such as friends, family, and former business associates. Shout your new venture from the mountaintop by sending out emails, making phone calls, and posting about your career move throughout social media. Encourage your people to reach out if they are ready to sell or buy a home and pass along your information to their friends and contacts.

Expand Your Referral Base

One of your main jobs as a first-year real estate agent is establishing and growing your referral base. Building up a strong network that can lead to significant business takes more than posting on Facebook and getting ranked on Google. Expanding your referral base is hard work that requires communicating and following up with industry influencers that can direct business your way. Examples of types of relationships that give your referral list a needed boost include:

Home Builders: Get to know the active new home builders in your area. Visit several different new home communities armed with treats and contact information. Establish a presence among different builder clusters to gain traction as you build up referrals.
Realtors: Other real estate agents you deal with or meet at conferences and other industry gatherings can be valuable resources. Be as ready to help them as they might be to help you.
Lenders: As a new real estate agent, you will be meeting many new lenders in your first year. Cultivating relationships with the most active and successful lenders in your market can lead to profitable deals sent your way in the future.

Come Up With A Business Plan

Real estate is a serious business that requires a legitimate business plan to reach your first-year and long-term goals. You will never achieve the goals you do not set. When creating a budget and revenue objectives, be bold while staying honest and accurate in managing expectations. Even with the hottest start to the first months of your real estate career, it will take time to earn those early commissions, making it essential to have savings or alternate revenue streams while you wait for the money to start coming in.

Find Your Niche Market

As a first-year realtor, you will need to discover a niche to focus your marketing and promotional efforts. Figure out which group of buyers and sellers you connect with and feel most comfortable dealing with. While it may seem as though you are limiting your potential outreach, it is far easier to resonate with clients when you can pinpoint your efforts to a specific niche. Set your business up as the reliable and trusted agent in that niche. As you build up a reputation and get known as an agent specializing in your niche, you can establish yourself as the agent that finds solutions for buyers or sellers with specific problems or circumstances.

Be Prepared to Work Hard

Being a successful real estate agent is hard work and even harder the first year in business. You set your hours and dictate your schedule. Push yourself in the first few months to set a self-standard of hustle. Be prepared to work nights, weekends, early mornings as those are typically the best times to connect and communicate with existing and prospective clients. Stay organized and be flexible to adapt to the changing schedules and last-minute showings. Early on in your real estate career, it is important for you to be seen at as many showings so your clients and referral sources see you as accessible and available when they need you.

Find A Mentor

As a real estate agent, the first year can be confusing and complicated as you navigate your way in a new industry. Be humble enough to realize you do not know everything and need help from those that came before you. Find an experienced broker or agent you can trust to go to for answers as you learn the ropes. The more information and experience you can absorb, the quicker you will have the knowledge and confidence to succeed. Pour over all of the industry publications you can get your hands on, join professional realtor organizations and network with successful realtor professionals to make sure you are on the right path.

Partner with Me

New brokers and agents that put in the time and effort can bring in $100,000 in the first year as a professional real estate agent. It will take hard work and a willingness to learn the industry from those that have come before you. As an industry leader in cloud-based real estate, I can help you reach your goals in the first year and into the future. Contact me and let’s get you positioned for success in your new career. If you want to learn more about how to make a 100k your first year in real estate reach out to me on social media.

eXp Realty

20 Super Tricks for Real Estate Agents on Getting the Best Photos

November 26, 2021Last updated on: November 26, 2021Published by: John Kinnunen 0

In many markets across the country, homes and properties are flying off the market. Homeowners and agent barely need to stick the sign in the yard when 10 offers get plopped on the porch. But that doesn’t mean agents and homeowners should simply disregard the art of staging and a good showing. The key is preparing everything ahead of time and launching at the right moment with all the ducks in a row, ready to get the very best willing and able buyer.

That comes down to that first impression and what makes that first impression, nine times out of ten it’s those listing photos.

Buyers see homes online first to the tune of about 90% of the time. It’s not even up for debate that those photos are the key to gaining a second look. While many agents simply hire out, there are some that insist on taking their own, which is find, especially in lower-priced listings where every dollar counts. Here are 20 amazing tricks and tips for getting the best real estate photos.

#1. Get the right camera.

If you are going to take your own photos, please do not use your cell phone. Granted, a lot of cell phones nowadays have great cameras but unless you know how to use all of those thousands of settings and angles, it’s best to get a camera that you really love. If you don’t want to spend the extra money on a camera, spend some money on a class learning how to use the amazing camera that’s actually on your phone.

#2. For camera owners, consider a wide-angle lens.

This will help you take a photo of the entire room without altering or deceiving the viewer. If you’re going to invest in a camera, consider a wide-angle lens specifically for real estate photography. This allows for a larger image covering the entire field of view rather than simply honing in on the corner of the bedroom.

#3. Do not use a fisheye lens.

This can artificially distort the image and while you want the room to look as best as I can, you don’t want to deceive the viewer. The room should look just a little bit better than when you would actually walk into the room without being so different that it throws buyers off.

#4. Consider drone photography.

Drone photography is extremely popular now and it doesn’t have to be as expensive as it sounds. If the neighborhood is something that you want buyers to see or close proximity to water, freeway entrance, or just a great gated neighborhood, using drone photography and viewing the property in the neighborhood from above really gives buyers a better sense of what they are buying. This is also a great way to explain to buyers moving from out-of-state as they may not be able to drive the neighborhood on every home they see.

#5. Take a shot of every room.

While you might not use every shot of every room in the listing, you need a good collection of photos to go through and edit if necessary. Plan on taking at least one shot of every room and multiple shots of important rooms such as the living room, master bedroom, kitchen, and multiple shots of the exterior of the home. Most MLS listings require the initial photo to be of the outside of the house or the view from the house so make that first impression shot really count. You don’t have to take pictures of everything including smaller details such as the corner of a countertop in the kitchen but use the entire image so that buyers get a sense of what it’s like to be in the room.

#6. Choose the right time of day.

Twilight photography is a big deal right now. This beautiful dusk time of day offers fantastic lighting, especially if you have exterior lighting on the house and a beautiful sunset in the backdrop. For interior, you wanted to be well lit and clear outside, so yes, this does mean taking pictures at different times of the day. Try to avoid taking pictures when it’s overcast or rainy as this simply adds to the drab of the photo.

#7. Take everything out of the room.

I’m not talking about furniture but I am talking about things. Make sure you de-clutter everything including the top of counters, tables, benches, chairs, etc. There may be one item on the counter and that’s it. People are not buying your things they are buying the bones of the house so make sure buyers can see it clearly. You want the furniture to remain and that’s about it.

#8. Consider a stager for rearranging the furniture.

Homeowners may be only able to see their layout in one way and that might be the way that they have chosen to design their home for years but there could be a better way. Talk to a real estate stager about the best way to arrange furniture in photographs that might not work necessarily in person but look great on camera. Think about the way they take photos of models. They contort them in different ways that is very unrealistic in person but on the page, it looks fantastic.

#9. Make sure you have enough light.

Lighting can change the way everything looks and bright light can create amazing photos. Let them natural light in as much as possible to brighten up the entire room.

#10. Consider color.

A pop of color such as a bright red pillow on a neutral colored couch really stands out to buyers. They may remember that image, “remembered the house with the bright red pillow?” That’s what you want them to remember. Don’t go overboard with a bright red wall, but simply add those pops of color in otherwise monochromatic rooms.

#11. Use external lights.

Any external lights are going to add drama to that twilight photography. Consider having outdoor solar lights put in for that phenomenal twilight image and use as many external lights as possible when taking images of the outside especially at dusk or at night. Having pictures of the outside of the home at night and during the day is a great idea.

#12. Don’t get wonky with the camera.

Keep the camera straight on. You don’t want to tilt the camera up down or side to side as it can distort what the room actually looks like.

#13. Take images at eye level.

You don’t need to stand on a chair in the corner of the room to get the best shot of the space. Simply take shots from high level.

#14. Shutter speed can be important.

If a shutter speed is too fast the image quality can decline. If it doesn’t let enough light in the image can become grainy or blurry. Again, if you need help understanding how your camera, even your phone camera works, consider taking a class before taking those shots.

#15. Edit your photos.

Don’t just pop on all of the photos that you just took. Go through them one by one and straighten, crop, and highlight the photos. It’s okay to use a little bit of Photoshop. Even free Photoshop applications can help alter the image just slightly by either making them clearer, highlighting the detail, were changing the shadows and dark highlights.

#16. Consider a professional editor.

While you don’t always have to hire a professional photographer, you can hire a professional editor. If you’re not too sure how Lightroom or Photoshop works, you can always hire a professional. Even freelancers from online can make it very affordable to edit your photos.

#17. Upload high-resolution images.

If you have your own website, super-high-resolution photos will slow down your website but places like Zillow and other real estate generated websites expect you to upload high-resolution images and then they will convert them. You want the best resolution possible on those websites.

#18. Don’t over-edit.

Buyers will see right through it. Don’t get crazy on the vibrance, color, or clarity making it seem almost like a painting rather than an actual image.

#19. Stay away from filters.

Don’t give your images a CPS filter, black-and-white, or some other weird color. Buyers want to see the house as clean, clear, and concise as possible.

#20. Once you have the best photos, share, share, share.

Not only on your own website but on social media, have the homeowners share, and connect with others so that they share those photos as well. Photos really draw buyers and so the more you have on the website and the more places buyers could potentially see the home, the more chance you have of a great offer.

If you’d like more information about joining a real estate team with eXp Realty to gain the resources, support, and experience of other team members, contact my office at any time.

More tips for agents and brokers:

Part-Time Vs Full-Time Real Estate Agent

20 Questions to Ask When Interviewing Brokerages

100 Things I Wish I’d Known Before Getting Into Real Estate

9 Reasons Your Business Should Relocate to Florida

How to Be the Builder’s Agent

How to be a Luxury Agent

7 Reasons Why Joining a Real Estate Team is Beneficial

Health Care for Real Estate Agents

9 Steps to Join eXp Realty

The 10 Best Ways to Find Real Estate Buyers

eXp Realty

10 Best Ways to Find Real Estate Buyers

November 19, 2021Last updated on: November 19, 2021Published by: John Kinnunen 0

10 Best Ways to Find Real Estate Buyers – Real estate agents know that just because you have your license doesn’t mean that leads will automatically drop into your lap. This is a dog-eat-dog business and real estate agents must pound the pavement to build that book of business, especially in the beginning. When you join eXp Realty, your mentor program will start out with assistant leads and help you generate some of your first transactions but it is ultimately up to you to continue that practice and eventually be “released into the wild” to make your own way.

Real estate agents have been pounding the pavement for leads for decades and everyone has a way of doing it that is slightly different. What works for one may not work for the other so take this list in stride. Some of these tactics and strategies may or may not work for you but they all have been proven to work for some. While many real estate agents find that the listing is the pot of gold at the end of the rainbow, others prefer the joy and satisfaction of helping buyers find the home of their dreams. If you prefer more buyers agent tactics, here are 10 of the best ways to find real estate buyers.

#1. Target the right demographics.

Well at the beginning of the game you’ll take whatever you’re given, you probably have a niche or target demographic you prefer. Do you like first-time homebuyers? Retirees? Second-home buyers? Investors? Whatever your buyer niche is, target that demographic. Create social media campaigns that specifically targets people in certain age brackets with certain interests. You’ll be able to narrow down the field to specifically target buyers that appeal to your type of niche. Social media campaigns can definitely be targeted to the right buyer and the more specific you are, the higher the chance of getting the right lead.

#2. Connect with other groups on a social media.

Start building your sphere of influence by networking with other buyer’s agents and listing agents. When agents come together over the right property, relationships are solidified. Ask other listing agents in your area about sitting their open houses. Talk to them about the best way to get buyers for a specific neighborhood. Most agents are always seeking to improve their social media presence and because a lot of us spend way too much time on social media, it can be a great place to farm for buyers. Finding groups for residential sales, investing, or general homebuying can always broaden your scope of influence. Answer questions rather than ask for business. Providing solutions and answers will show that you’re not greedy, even though the ultimate goal is to retain a buyer.

#3. Build hyper-local and targeted landing pages.

If you have a real estate website, and most real estate agents do, consider building out squeeze pages or landing pages to truly capture buyers in a specific area. Make this hyperfocus so that the page shows up for exactly what you want to obtain. If it’s a specific neighborhood, talk about buyers in specific neighborhoods and why a buyer should choose you as the representative over anyone else.

#4. Consider a lead-generating website.

There are dozens of real estate website platforms out there but not all create and provide the right lead-generating solution. Websites like Sierra, Real Geeks, or even custom WordPress sites with highly integrated and optimize IDX solutions are key to getting the right lead-generating results.

#5. Consider mailers.

Yes, mailers still work. If you’re looking to farm a specific area, consider sending out postcards, something simple, straightforward, but that keeps you top of mind when they do need to buy. You never know when that postcard will come across the desk or the dining room table at just the right time. Keep your name fresh in their minds and let them know what you’re doing for others in the neighborhood, suggesting a sense of FOMO if they don’t use you.

#6. Consider paid advertising campaigns.

Pay-per-click can certainly work but it can be expensive. Right out of the gate, pay-per-click campaigns can target specific buyers for an area and because you are top of the food chain, so to speak, your site and your information will come up first. Do this for a few months, and you may have built up a good book of business that can maintain referrals so that you can drop back a bit on your pay-per-click budget. Make sure that those paid advertising campaigns go to the right page and that you are able to garner a lead from every click.

#7. Network.

Similar to building out your social media network, you can network in other ways. Get involved in your local Chamber of Commerce. Talk to local businesses and let them know what you do and who you are. Throw events, get-togethers, and charity events or even holiday parties to get your name out there, start building your book of business and networking with like-minded individuals that may refer you to potential business.

#8. Consider unofficial listing services.

Most real estate websites and MLS websites will naturally post to places like Zillow, Trulia, Realtor, etc… But unofficial listing places like Craigslist, Facebook Marketplace, Next Door, and even Offer Up can provide a great platform for expanding your sphere of influence. The newspaper is really not the source for tracking down your next lead but many of these places that don’t automatically generate listings are a great way to not only get your website out there in the form of back links but your name and what you do as well. Also, by targeting these types of websites, you might find a buyer that’s not working with an agent yet.

#9. Don’t forget about renters.

Renters can be a wealth of potential business. Sending these mailers to homeowners might be a great way to get listings but sending mailers to renters in apartment buildings and complexes can definitely get you the buyers. Let renters know how easy it is to buy a house through you. When you make it seem doable, they’re more likely to call you. Remember when Disney did a campaign stating exactly how much it costs for a family of four to have a fantastic vacation in Disneyland? It worked! When families realize, “wow, we could do that” it made a trip to Disneyland much more affordable. It took the guesswork and the shock of cost out of the equation. Do this with renters, and you might be surprised at how much your phone rings.

#10. Never neglect your existing sphere of influence.

Don’t forget about friends and family. These are the people that knew you before you were a big deal in real estate. Without pressuring friends and family, you can be a consistent reminder about what you do and who you are. Talk about your latest listing, talk about how excited buyers were that you negotiated the best terms on their behalf. By showcasing real estate wins that you were a part of, you create an urgency for others that make them want to use you and refer you. By speaking intelligently and authoritatively without flat out asking for a lead, you will naturally get people that refer you on a regular basis.

Finding real estate buyers doesn’t have to be difficult but you do have to be consistent and motivated. Again, leads generally will not drop into your lap but the more informative you are, helpful, solution-based, and consistent, eventually the snowball will get rolling. When it does, don’t back off. Continue with your lead-generating tactics and strategies to maintain that steady stream of potential buyers.

If you’d like more information about joining a real estate team with eXp Realty to gain the resources, support, and experience of other team members, contact my office at any time.

More tips for agents and brokers:

Part-Time Vs Full-Time Real Estate Agent

20 Questions to Ask When Interviewing Brokerages

100 Things I Wish I’d Known Before Getting Into Real Estate

9 Reasons Your Business Should Relocate to Florida

How to Be the Builder’s Agent

How to be a Luxury Agent

7 Reasons Why Joining a Real Estate Team is Beneficial

Health Care for Real Estate Agents

9 Steps to Join eXp Realty

eXp Realty

10 Ways for Effective Real Estate Door-Knocking

November 5, 2021Last updated on: November 5, 2021Published by: John Kinnunen 0

Going door to door. No, this is not a blog post from the 1970s. Did you know the going door to door is actually remarkably effective, especially for local real estate agents? While this might be old school, it still works. Real estate is based on relationships and connections and that is difficult to achieve over an email, postcard, or website.

Nothing beats face-to-face contact. But, like most of us, the idea of cold calling or knocking on a door is somewhat terrifying. Is there a way to do it that is actually effective? Does anyone do it anymore? Can you actually get a lead by door-knocking? This article is gonna talk about 10 effective ways real estate agents can utilize door-knocking it to get a lead and to build relationships.

Door-Knocking to Get the Lead – 10 Effective Ways

#1. Do your research.

Before you start knocking on random doors, you have to know where you want to start your marketing. Is there a neighborhood in which you live where you might actually know a lot of the people there? Do you want to start somewhere you really know and then branch out? Do you have an open house in an area and can knock on everyone’s doors in the area telling them about the open house and introducing yourself? This is a great way to get involved in the neighborhood, be presentable, hospitable, polite, and, get your name out there as well as your face. It all starts somewhere and the best way is to go face-to-face.

#2. Consider gifts.

A small gift is a good way to smooth things over and introduce yourself in a non-threatening manner. Perhaps it’s simply a back scratcher with your name on it, a candle, soaps, lotions, a prepackaged cookie from the local bakery, or something inexpensive, small, and memorable. Items that people use every day such as a pen, notepad, or magnet (one that’s useful rather than a big placard of your face on their fridge) are things that can be used daily and remind people who gave them the gift. When the time comes to buy or sell, you might come to mind, especially if you keep yourself top of mind.

#3. Know what you’re going to say ahead of time.

Work on your script and understand what you’re going to say before you knock on the door. Do you have a polite way of handling rejection? Consider how someone might answer the door and have a respectable response for each of those encounters. Remember, you may come across mothers that have sleeping children and a doorbell or hard knock on the door might be the irritating thing that wakes up the child, ruining her day. You certainly don’t want to be remembered as being “that guy”.

You might be dealing with elderly folks that can even hear the front door, teenagers home alone, housesitter’s, babysitters, heads of households, and everyone in between. Run a script through your mind on what you would say to just about any type of person that answers the door. Try to connect with them immediately without sounding too “salesy”.

#4. Be clear and concise.

Be quick, clear, and concise. Think of this as your elevator conversation. Tell people what you do, how you do it, why you do it, and how you can solve their problem in 10 seconds or less. That definitely takes some practice. Don’t go on and on about yourself because even though you are selling yourself, people want to know that they are in charge and you are solving their problems, not being a rescue for them or that they need you.

If you have an open house in the area, quickly let them know where the open houses and that you’d love to see them, perhaps promise them cookies and coffee or even a glass of wine should they stop by. This will give you a better chance to get to know them and talk about their interests and needs a little bit more.

#5. Understand rejection.

Learn how to gracefully take no as an answer. Remember, even if someone says no, it’s better than slamming the door in your face. Not everybody is ready to buy or sell a house but if you are polite, let them be on their way, and give them a no-pressure out, they may be more inclined to remember you next time. Y

ou’re not necessarily trying to sell anything but simply introduce yourself. A successful real estate agent doesn’t have to convert everyone at the doorstep. This is a process and just one step to a potential lead.

#6. Consider timing.

You certainly don’t want to bother a busy family first thing in the morning when everybody’s trying to get out to school or work. But you also don’t want to bother them right at dinnertime. Most people come home from work between 4:30 and 6:30 and maybe have dinner between 5:30 and 6:30 or seven.

You certainly don’t want to go too late but consider your audience. If it’s a retirement community or after, earlier is definitely better. Consider the day as well. Sunday afternoons, as long as you’re not interrupting a popular sports game, most people will probably answer the door. It’s a more lazy afternoon and they might have more time to chat.

#7. Consider it your target audience.

As previously mentioned, if your target audience is seniors, make sure you have a story of connection that they can relate to. Talk to them during different times of the day or ask if you can come back. A lot of these folks are happy to chat with anyone so make sure that you’re not also wasting your own time. If you’re looking for families, be considerate of afterschool sports, school times, moms with small children, or parents that work. If you’re looking for young professionals, later in the evening might be more appropriate.

#8. Be prepared for unanswered doors.

Not everyone is going to answer the door or they might just not be home so be prepared with door hangers, flyers, or even a unique little gift that will set you apart. You’ll want to have the proper information such as your contact info, social media accounts, and of course, the call to action.

You might even include testimonials or reviews from people they may know such as their own neighbors. People are more likely to choose a real estate agent when they have some reference and relatability.

#9. Target specific homes.

Blanket the neighborhood ahead of time to find expired listings or maybe a home that is ‘for sale by owner’. Obviously, there was a need or is currently and need to sell a house so make sure that you have a really good response on why someone should use you rather than another real estate agent or simply sell it themselves.

You don’t want to overpromise and underdeliver, but offering something they may not be able to get with another agent or by themselves is definitely the key to attracting new business.

#10. Keep records.

There’s nothing more frustrating than having someone knock on your door two weeks after they’ve already knocked on your door acting like they’ve never seen you before. This turns people off and they definitely won’t call you back if you didn’t even remember them. Keep a record of where you’ve been, who you are able to talk to, unanswered doors, and who you might read target in the future.

Nothing shows more validation than remembering that you’ve met someone previously. It makes them feel like you care and that you’ve really paid attention… Which you have.

Door-knocking is not just an old-school tactic. This truly can work for a lot of real estate agents if you put into practice these 10 simple steps. Stay organized, be considerate, be genuine, be realistic, and be respectful. You might be surprised at how many leads you actually get.

If you’d like more information about joining a real estate team with eXp Realty to gain the resources, support, and experience of other team members, contact my office at any time.

More tips for agents and brokers:

Part-Time Vs Full-Time Real Estate Agent

20 Questions to Ask When Interviewing Brokerages

100 Things I Wish I’d Known Before Getting Into Real Estate

9 Reasons Your Business Should Relocate to Florida

How to Be the Builder’s Agent

How to be a Luxury Agent

7 Reasons Why Joining a Real Estate Team is Beneficial

Health Care for Real Estate Agents

Join eXp Realty

eXp Realty

7 Reasons Why Joining a Real Estate Team is Beneficial

October 20, 2021Last updated on: October 20, 2021Published by: John Kinnunen 0

eXp Realty is a great brokerage but it’s not just about the brokerage, it’s about the team you surround yourself with. While I’m a great proponent of eXp Realty, I also see the advantage of being a part of a dynamic real estate team. If you’re considering going solo in your real estate career or joining a team, here are seven reasons joining a real estate team might be beneficial to you and your career.

#1. Leads can be acquired easier.

When you work within a team, you may have access to more clients and more leads. Sharing of leads, referrals, and building a better client base is easier when you work with the team. It can be easier to become an agent for certain investors as well if you have a company or team name backing you up. Your lead generation can rapidly increase.

#2. You learn fast and develop skills quickly.

When you work closely with the real estate team you glean knowledge from highly skilled professionals and those with experience. When you join a real estate team I strongly suggest joining with a well-rounded group of individuals rather than a complete set of amateurs. Amateurs may not be able to bring to the table everything you need but having a good mix of experienced and seasoned agents, moderately seasoned agents and newbies can all bring something fresh to the table as well as experience.

#3. Your expenses may be less.

While you might have a smaller commission cut, you usually have fewer expenses. Having shared staff can reduce the cost of hiring assistants, lead generators, transaction coordinators, and careers. When everyone shares the costs, it can really cut down on your own expenses.

#4. Shared knowledge.

Just as you can develop skills quickly from the team that you join, you can also get access to a large database of shared knowledge. You can access promotional content, you may have access to web designers, useful resources, creation tools and more. The team can purchase licenses together and share software.

#5. You have the experience to create your own brand later on.

While right now you are branding the team and you are part of a larger group, you can eventually break off and then have the resources and branding behind you to start your own team. While the disadvantages may be not being able to brand yourself but the team, the advantage may come later when you decide to create your own team. You’ll have the integrity and reputation of the team you started with.

#6. Trial and error is figured out quickly.

For most team owners, it can take a while to figure things out but when everyone is working together for the same common goal, those trial and error situations can be evened out a lot faster.

#7. You can be accountable to someone.

This is a benefit and a disadvantage. As a real estate agent, you really don’t have to be accountable to anyone. You can do your own thing, start your own brokerage, and be on your own. But, the advantage is that you don’t have to be on your own, you don’t have to do this by yourself, and others are keeping you accountable. There’s a lot of people that like to work in either of those two situations but for those that want a little handholding and the support of a team around them, a real estate team is really ideal.

Knowing when it’s better to work alone.

While joining a real estate team is a benefit all around, there are some times where you need to realize you are better on your own. Starting with the team may be a great way to get your feet wet in real estate, start building your career, and then launch your own team or solo career later on. However, most of the time when you leave a team, you may not be able to take any of your contacts with you so that is something to keep in mind.

If you’d like more information about joining a real estate team with eXp Realty to gain the resources, support, and experience of other team members, contact my office at any time.

More tips for agents and brokers:

Part-Time Vs Full-Time Real Estate Agent

20 Questions to Ask When Interviewing Brokerages

100 Things I Wish I’d Known Before Getting Into Real Estate

How to Be the Builder’s Agent

How to be a Luxury Agent

eXp Realty

Health Care for Real Estate Agents

October 14, 2021Last updated on: October 14, 2021Published by: John Kinnunen 0

Health Care for Real Estate Agents – As a real estate agent and a self-employed individual, health insurance can be quite an expense. But did you know that eXp Realty offers real estate agents quality and affordable health insurance? This is really one of the only brokerages out there that provides this type of healthcare for their agents and brokers. Healthcare is not cheap and we all need health insurance. Even brokerages that try to provide certain health coverage for their agents find themselves in an expensive situation.

Health Care for Real Estate Agents

Did you know that the average cost for health insurance for an individual is about $1500 a month for a family coverage policy? That’s atrocious! Plus, there’s about 14% of the National Association of Realtors that don’t even have their own health care. As a real estate agent a lot of times it’s feast or famine but that insurance check must go out every single month. This is where eXp Realty offers something different. Their health insurance plan is designed by agents for agents.

Enter Clearwater Benefits

What is Clearwater Benefits? This is a collection of unique, reliable, and dedicated insurance professionals helping families choose confidently and wisely with their healthcare coverage. They offer innovative and traditional plans for dental and vision as well as healthcare experts offering no-cost consultation to find the best plan that fits your budget and needs. This healthcare solution combines the best benefits with the best network at the most affordable prices.

Clearwater’s comprehensive list of policy and plan options and the partnership with eXp gives agents many choices and plan options.

Real Estate Cloud Brokerage Partners with Clearwater Benefits

This agent healthcare plan pairs agents with the healthcare agent to find them affordable coverage than what they might find on a traditional insurance marketplace. They also connect them with telemedicine services providing videoconferencing helping agents save even more.

Healthcare is not a one-size-fits-all system. From innovative healthcare solutions perfect for self-employed who are generally healthy and under the age of 65 to traditional insurance for pre-existing conditions as well as supplemental health care for dental, vision, life, accident, and Medicare supplement. By eXp Realty partnering with Clearwater Benefits, it can potentially save agents around $10,000 per year on fixed healthcare expenses and 80% on out-of-pocket expenses.

Are There Other Plans?

eXp Realty offers retirement benefits as well including eXp World Holdings stock options to contribute to the overall company growth and urban stock as a reward. Clearwater also offers life insurance, disability insurance, vision and dental, and wellness initiatives.

How to get started?

First off you must join eXp Realty and start getting your sponsorship going through the onboarding process. Once you are set up as an agent you can shop the affordable health insurance plans. Even though agents are independent contractors and self-employed, they still need health care insurance. Choosing an eXp Realty Health Insurance Plan can save you thousands of dollars each year. If you are already an agent, contact my office at any time to learn more about setting up ideal health insurance or switching plans.

More tips for agents and brokers:

Part-Time Vs Full-Time Real Estate Agent

20 Questions to Ask When Interviewing Brokerages

100 Things I Wish I’d Known Before Getting Into Real Estate

How to Be the Builder’s Agent

How to be a Luxury Agent

eXp Realty

How to Become a Luxury Real Estate Agent

October 7, 2021Last updated on: October 7, 2021Published by: John Kinnunen 0

Are you looking to break into the luxury real estate market? Aren’t we all? I mean, who wouldn’t want that commission check? But, it’s not as easy as simply waiting in your office for a lead to come through. Very few ultrarich real estate owners will simply cold call a real estate brokerage and ask for one of their random agents. Becoming a luxury real estate agent is a position one must work for, thrive in, and meet the standard for most luxury real estate clients.

Not every real estate agent is capable of selling ultra-expensive luxury homes. Many agents are simply generalists, where they can buy and sell for clients regardless of their income bracket. Some cater to certain niches such as a buyers agent only, listing agent, in a particular neighborhood, or probate, foreclosures, and short sales. Then there’s the luxury property market. This market is typically characterized by refinement and exclusivity. The term luxury may vary depending on the market and it’s not necessarily about the price tag, although luxury homes do come at a premium. The typical luxury home in the United States ranges from about $2.5 million in Los Angeles to $3.6 million in New York City.

Agents that specialize in luxury real estate tend to do business with ultra-high net worth individuals, those that have assets of $30 million or more. These are among the world’s wealthiest individuals and while it’s a group that is still fairly small, it continues to grow each year. So how can you break into this market?

Here’s how to become a luxury real estate agent.

Understand your clientele.

I’m not going to start at the beginning and I’ll assume you have your real estate license. Obviously, you’ll need that to become a luxury real estate agent but you’ll need to understand your clientele as well. These properties are not simply going to sell themselves. It’s much easier to sell a three-bedroom condominium than it is a 30,000 square-foot estate mentioned. You’ll need to know the market and the clientele. Get into the minds of the ultra-rich. Read blogs, articles, and books the target your clientele and what they might read.

Networking and co-listing

Who wouldn’t want to take on a $20 million listing all on their own? But, a clever and luxury savvy agent understands the respect and the networking that goes along with co-listing. This is one of the best ways to break into the luxury real estate markets. You might need to team up with someone that is already very prolific at selling and marketing luxury homes. Try not to be greedy and remember half of a law that is more than a lot of nothing.

Get relevant experience.

Success and confidence in being a luxury real estate agent come from repeated practice and experience. Brand-new agents are probably not going to get a luxury real estate listing so you’ll need to work with the brokerage that’s experienced in selling high-end listings. You may need to share the listings for a while until you really get the experience of how different selling luxury homes is.

Dress for the job you want.

This is an old cliché but it is definitely true when it comes to marketing luxury homes. This is not a sweatshirt and jeans type of agent. This is a high-class, properly groomed and well-dressed agents. While you can still be real and down to earth with clientele, don’t assume that’s the type of client you’re going to get.

Luxury agents spend a lot of money.

This is not a quick photo tour with your iPhone. This is high-end photography, drone photography if necessary, and expensive marketing campaigns. Remember, these properties are tricky to sell so you’ll need to put a little bit of skin in the game to really market. This means you may need some starting capital so that you can spend freely with your initial investments.

Make sure you have the connections that the luxury client will need.

Make sure you can answer questions that the client has about real estate taxes, insurance, appraisals, banking and lending options, common properties, and privacy. Each client is going to be different so you’ll need the assets and connections associated with buying and selling luxury properties.

Understand the details.

Luxury properties are not going to be comparable to traditional homes. You will need to pay attention to all the details including key features of the property, location, and amenities. Think full-color marketing media as buyers want to know as much about a property as possible. Be an expert with the property, the area, the neighborhood, and the logistics they go into a jumbo home loan, cash buyer, equity, and asset protection.

Develop your sphere of influence.

As your sphere grows, so will your capabilities in the luxury real estate market. You’ll want to bill contacts and generate leads through influence strategy. This is where you will generate leads through the people the agent already knows such as neighbors, family, friends, social connections and business associates. This can be extremely valuable because every person in agent meats could become your client. Learn about each person in your sphere of influence and maintain regular contact. Networking with other agents and professionals can help you connect to other buyers and sellers that may be just outside your reach.

Go where the local influencers are. Join groups, social clubs, where the elite hang out even if it’s just the local Starbucks.

Market yourself.

Whether you are a luxury real estate agent or a traditionalist, you will need to know how to market yourself and your brand. Pick a brand that you’re going to stick with so it is recognizable and familiar. Everyone’s marketing is different. If you start to broad you may dilute your marketing and branding. The niche-focused, teach, inform, and be the authority on your branding and your niche.

Farm luxury expires.

While this is always a good idea for just about any type of real estate agent, luxury homes will be more proficient because they are a harder type of home to sell. Luxury homes can take 2 to 3 times longer to sell than the average home. There are simply fewer buyers who can afford the high price tag. Luxury home listings can expire more frequently than moderately priced homes and luxury homeowners that try the for sale by owner approach will really find it difficult to attract a real homebuyer. This may be a great opportunity to prospect for both luxury expired and FSBOs.

Solve a problem.

Try not to be everything to everyone. The wealthy still have certain problems to solve and if you come as their guide, chances are you may get the listing. When you’re clearing your marketing about what problems you specifically solve, clients can discover quickly if they need your services. This goes along with understanding your clientele and what they really need.

Bottom line

Becoming a luxury real estate agent will take time but it’s also important to learn, educate yourself, read up on your clientele, and be the authority in that niche market. If you’re ready to push further into the luxury real estate market, consider joining eXp Realty. With endless potential on your earning capabilities, eXp Realty can provide the platform you need to advance your luxury real estate career.

For more information on how to become a builders agent or learning how to join eXp Realty, contact me at any time.

More tips for agents and brokers:

Part-Time Vs Full-Time Real Estate Agent

20 Questions to Ask When Interviewing Brokerages

100 Things I Wish I’d Known Before Getting Into Real Estate

How to Be the Builder’s Agent

eXp Realty

How to Be THE Agent for a Builder

September 30, 2021Last updated on: September 30, 2021Published by: John Kinnunen 2

You are the sole go-to agent or broker for a developer or builder. Sounds great, right? RIGHT – IF you’re willing to work at it. This is not for the faint of heart nor is it for newbies, although one could quickly be thrust into the role if necessary.

A builder’s agent is just that, an agent for the builder of a particular development or subdivision. If you think this is easy money, knowing that pretty much all the lots will sell, think again. Sure, you’ll probably sell a few, but you won’t be the only one. While this is a great niche, it can be tricky to establish. Here are some tips to becoming a builder’s agent.

Why be a builder’s agent?

Being the agent for a builder can offer a lot of leads. Probably more leads than you’ll find on typical platforms like Zillow and even through your brokerage. You could be representing dozens of leads at one time. This can be extremely lucrative but there are drawbacks, advantages, and disadvantages to becoming a builders agent.

How to choose the right builder.

First off, you have to find a builder that is looking for an agent. It’s important to get to know developers and learn about their products and their goals. Many developers are receiving daily emails from a lot of other agents so you’re going to have some competition. You’ll need to build relationships with builders in unique and different ways.

Play the long game.

Make a list of developers you’d like to build relationships with. Make notes of their mailing addresses, where they’re building, the types of homes they build, and anything that stands out to you as being a different type of builder. You want to mail them something that’s memorable. Choose a marketing message that’s branded with your brokerage and your niche and maybe even send a small gift or useful item with your name and contact information.

Send weekly reminders.

If you’re serious about becoming an agent, you’ll need to send them weekly reminders, gifts, or messages with phone calls, social media messages, and ask about their sales. Follow-up calls are useful to find out what the developer really wants but this can be a tricky game to play. You don’t want to be bothersome or a nuisance, but you also want to stay top of mind.

Know with the builder is doing.

You want to stay on top of the builder’s upcoming projects. Ask the builder if they need any help with sales, ask for business, and if you’ve already built up a rapport, you may have a shot. But even if you don’t, and you don’t end up having a direct relationship with the builder, make sure you keep showing the builder that you are interested, professional, and committed. Just because you’re not an agent now for the builder, doesn’t mean that you can’t be in the future. Relationships fizzle and dissolve all the time.

Once you have a builder

Once you have a builder and you are that builder’s agent, you’ll need to fulfill your responsibilities ethically and morally. You may have a lot of properties to sell but you may not make as much money as you expected. Builders and developers tend to be pretty aggressive with negotiations. Builders may will likely want a discount but because of that discount, you’re likely to have far more listings than a typical agent. This can offset the lower commission rates.

Builders also want to know that you have references to related parties. Builders may have a rapport with a certain lender and offer buyers specific incentives and discounts if they go through a particular lender. If buyers don’t want to go to the lender, make sure you have a backup.

Are there certain qualifications to be a builder’s agent?

Any licensed real estate agent can become a builders agent. The builder can use any licensed agent or broker they choose but it’s important to be an experienced agent so that you understand the logistics behind selling lots and buildable parcels of land. While you don’t necessarily need to be a commercial real estate agent, it may help with certain details of each transaction.

Downsides to being a builder’s agent.

Representing a builder is very appealing but there are some disadvantages and are likely to get overlooked. Helping a builder’s cell parcels of land can come with long hours, strict schedules, and frequent open houses. Builders may not pay commissions that are as high as those offered on the typical MLS is a buyers agent or even a listing agent. New construction projects means that agents will need to overdeliver including the point of contact. However, the quantity of listings a builders agent is likely to get can definitely overshadow any negatives.

Bottom line

It’s important to understand all the pros and cons and the commitment that comes along with being a builder’s agent. Once you are in the builder agent realm, it’s easier to get more developers on your side. That initial contact and maintaining consistency, communication, and a good reputation is really key to getting more builders on your side.

For more information on how to become a builders agent or learning how to join eXp Realty, contact me at any time.

More tips for agents and brokers:

Part-Time Vs Full-Time Real Estate Agent

20 Questions to Ask When Interviewing Brokerages

8 Ways to Save Big on New Construction

100 Things I Wish I’d Known Before Getting Into Real Estate

eXp Realty

Do Google Ads Work for Real Estate Agents?

September 22, 2021Last updated on: September 24, 2021Published by: John Kinnunen 1

Does Google Ads Work for Real Estate Agents?

What is a Google Ad?

Google ads, also formally referred to as Google ad words or ad words express, is an online advertising solution that businesses can use to promote products and services on other websites. Websites that allow for Google ads on their website can monetize these ads by the people paying for the Google ads. Pretty much any business or service can use Google ads.

Is a Google Ad the Same as Adwords?

A Google ad is the same word as Google AdWords, just a more updated version.

How do Google ads work?

Google ads work by displaying an advertisement when people search online for different products and services that you might offer. They may appear on YouTube channels, Google search results, and other websites. These ads can help get your ad in front of potential customers at the right moment so that they take action, or at least that’s the plan.

You first start by selecting your goal, what you really want your visitors to buy from you. Do you want them to contact you, buy from you, learn from you, or subscribe to you? You then select the geographical area where your ad should be shown and if this is a real estate brokerage, typically you’ll be within a certain demographic, geographical area, county or city. From there, you customize the ad and set your monthly budget. Once the ad is approved it will appear wherever users in your target area search for products or similar services to your own.

Can Google ads work for real estate?

Google ads can be a good source of real estate leads but like any marketing tool, you have to work the process. The unfortunate thing with Google, or it could be fortunate depending on how you want to look at it, is that the process changes frequently. To some it’s gotten easier over time, more simplified, and others, change is never good and you have to relearn a platform all over again.

To sign up for Google as you’ll need an existing Google account. Then you’ll utilize the Google ad system which can be as easy as googling “Google ads” and it will take you right to the page. You want to optimize your campaign for the proper lead generation and traffic. This will tell Google that the goal of the ad is to convert any clicks and traffic and actual leads. Make sure that you add your website to Google to track if the goal of leads is actually reached. This could be your homepage or your root domain or specific page just for lead sign-ups.

Consider using campaigns throughout ZIP Codes. While not everyone searches for ZIP Codes, it is easier to geo-locate and track using ZIP Codes for the area in which you service. If you live in a smaller market and don’t have a lot of ZIP Codes, you might use an entire city or even a county, whichever is more relevant for your demographic.

How much do Google ads cost?

The cost is determined by your budget settings. Google ads will give you control over your budget and your only charged when users interact with the ad. But, be careful, because more people may interact in your prepared for and then will have a hefty bill to pay. When they interact it means they’ve clicked to visit your website or called your business through the Google ad.

How much should I be spending on Google ads?

Of course, you have to do what’s comfortable for you, but if this is going to be a solid source of leads, a general rule of thumb is between $10 and $80 per lead. If it’s a solid lead, that could be several thousands of dollars in commission, well worth $50 or so. Smaller markets may have a less expensive leads based on competition.

The more people searching in an area and the more competition, meaning other agents that are using Google ad words similar to yours, will increase the cost per lead. Also, it depends on your landing page converts. If what you have when people get there is not compelling or entertaining or even worthy of a call or click through, you’re going to lose the lead. You can’t just set up a Google ad without a compelling website for them to visit. You’re going to lose them right away and waste your money.

Can I group ads together?

Yes. You can group ads together in the same category. Typically one for each ZIP Code or major metro area. Within that group, you can create multiple as with different headlines and descriptions. This is a great way to do a A/B testing to find out what’s really working and bringing in the leads.

How to analyze your leads.

There are several different ways to analyze the results. Your click through ratio means those that are actually clicking on your ad and following through to the website. Anything above 10% is usually pretty good but if it’s under 3 to 4%, you may want to adjust the ad slightly.

Lead to client ratio means your conversion ratio going from the click all the way to final closing. That, of course, is the key analysis because that’s where your income is coming from.

Traffic to lead ratio is how much traffic it takes to generate that one lead. A conversion rate of around 5% is actually pretty decent. For instance, if you had 300 clicks and you got 15 solid leads out of it, that could be upwards of $225,000 on average in commissions.

How do I know it’s working?

Again, it comes down to what you’re willing to work on. You can’t just set it and forget it. You need to look at where your dollars are being spent, your click-through rates, lead to conversions, and if it’s really working and then adjust if it’s not. You do need to let it play out for 1 to 3 weeks for each ad to really get a good snapshot of the success of the lead.

Need help adjusting your Google ads or setting it up correctly for your eXp Realty ads? Give me a call. Looking to start in the real estate business or if it’s time for a change to a brokerage where you can actually keep your commissions, contact me at any time!

Learn More about eXp Realty