Timing

“Timing” – good timing is so important in life.

We all instinctively know about it and should strive to master the art of good timing.

In golf, good timing or tempo is essential to a good swing and a good score. In the stock market, being able to time shifts in the market is key in determining your ability to maximize the return on your investment dollars. Similarly, you had better get the timing right if you have to tell your significant other about booking your next road trip with the gang – without discussing it first.

It’s the same in real estate. Good timing will probably tell you when it is best to spend most of your marketing dollars. For instance, when the market is hot rather than when it is not (such as in the spring). It just makes good common sense.

So when you are reading all those excellent publications about how to sell more real estate please remember – layer over the top of those insights the necessity of timing all of your efforts appropriately.

Cheers,

Jim Trainor CA, CPA


Attention Brokerage Owners: Are You Headed For A Loss On Your Money?

What a winter!

During the past few months, have you been identifying and organizing priorities for your business? What about for your cash?

For instance – recruiting, retaining and growing productive agents OR financing a request(s) for a commission advance. Which is the best use of your capital in this changing market place? Which yields the best return for you and your business?

Let’s look at a possible scenario when an office does commission advances internally -

* 25 in-house commission advances per year

* $25 – 30,000 or more outstanding to agents (this spring alone)

* $4 – 5000 is your annual gross profit from this activity

* 3 – 4% cost of borrowing

* administration costs (until these funds are repaid)

* 1 deal down (with or without an agent departure) = Bad Debt + a Loss against gross profit

* High Risk

* No guarantee of return

When you advance commission today internally for your agents you may be left “holding the bag” (an empty bag at that).

Take a look at your numbers and your office and agent situation today. Maybe outsourcing your commission advance service is the best answer for you?

Just a couple of thoughts – hope they help!

May your agents’ deals be double-ended.

Happy selling,

Joe

 

 


What The Millionaire Real Estate Agent Didn’t Tell You

Some time back, we had a post concerning this subject. But considering the types of markets we are experiencing this year, we thought we should address the topic again after this VERY long winter.

The Holy Grail for realtors must surely be Gary Keller’s book The Millionaire Real Estate Agent. It’s crammed full of great ideas and provides an invaluable structure around which to plan your business success.

One element of his program that I would like to give more emphasis to is – timing. Without good timing it may prove very difficult to achieve the level of success that you desire.

Why is timing important? The importance of timing is illustrated by considering the difference between sales and cash flow – they aren’t the same. In real estate, this month’s sales usually results in a real estate agent getting paid after closing. This can often be 60 to 90 days in the future. Your ability to manage this timing difference or bridge the cash flow gap will truly help you grow your business.

The time may be right for you to consider taking a commission advance. When you advance commission today – you have immediate access to money that you can invest now to get new leads and grow your business.

Just a thought…..hope it helps.

May your next deal be double-ended!

Warmest regards,

Joe Johnston


Building Your Brand

Though the term “branding” is often used interchangeably with “marketing” and “advertising”, it means something else: your brand is not the marketing you do, but rather the image you want to project and the promise you make. Marketing and advertising are what follow in order to raise awareness of that promise. And in the era of social media and marketing tactics galore, it’s not difficult to lose sight of that core.

That’s where we come to the three R’s of real estate marketing: repetition, referral and retention.

The more interaction you have with your clients, the more opportunity you’ll have to build brand loyalty. Since you don’t see your clients as often as you would if you were offering a more frequently required service, you need to open the gates of communication as wide as possible. Engaging in social media, keeping in contact through tangible marketing materials such as newsletters, and attending community events are all ways of essentially repeating your brand promise. Keep your approach personable and your marketing customizable to your branding.

The real estate business is focused on relationships, so don’t be shy to ask for referrals.  Attract prospects through the relationships you build, provide your contact information to as many people as you can (whether by virtue of meet and greets or sending out monthly marketing pieces) and ensure that the quality of your service remains constant.

With that being said, there is no quick fix to building loyalty, and credibility takes time. Your services are not a fad – you’ll want to build familiarity and refrain from chasing business that can compromise the loyalty you’ve already established. By keeping your lines of communication open and sending out targeted marketing material you’ll be able to retain your relationships – and your branding!

Compliments of Vivian Giraldi & the team at Market Connections

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That’s where Market Connections can help! Many Agent’s Equity customers tell us how our wonderful friends at Market Connections have helped them grow their business with new listings and referrals.

With over two decades of real estate marketing experience, they’re a one-stop shop that can provide you with solutions to all your marketing needs. From customized greeting cards and calendars, to personalized newsletters (or eNewsletters for the technology-savvy agents), keep top-of-mind with your past and current clients and prospects! Tangible marketing is a great way to reiterate your services and showcase you as the neighbourhood expert.

Contact Vivian and the Market Connections team today!

They can be found online at www.marketconnections.com, or more specifically at www.realtyreport.org, or reached directly at 1-800-387-6058.


Staying Pumped – What’s Your Formula?

Professional boxer Dewey Bozella won his first fight in 2010. By itself, not a particularly noteworthy announcement. What is noteworthy is in knowing that at that moment, Mr. Bozella was 52 years old and had just been released from prison after 26 years incarceration for a murder he did not commit! His story is incredible!

One of the most fascinating parts of Dewey’s story is how he stayed motivated and how he kept his sanity (don’t forget, he was proven innocent after being in prison half of his life!). Here’s what Dewey shared: ”I focused on two things… self-improvement (education: he earned 2 degrees in prison) and staying healthy” (boxing was his vehicle). It is hard to imagine how Dewey Bozella actually stayed motivated all that time…but he did. His formula was education and boxing.

Everybody needs their own formula for staying motivated. In her excellent book “Get Motivated“, Tamara Lowe suggests that everyone is motivated differently. The key is to understand your own “personal formula for motivation”. As Jim Rohn said, “When the WHY is strong, the HOW becomes easy“. One of my Coaching clients recently shared her plan. It looks like this:

 1. Bombard myself daily with inspirational material (books, CDs, positive people, etc.)

 2. “Staying present” with where I’m going… what is my Big Picture?

 3. Lead generate daily so I’m always adding new “possibilities” to my life

 4. Have a Reward System in place to prevent Burnout (“I always plan my next trip well in advance and I use a Dream Board as a visual reminder”)

 You don’t need to spend 26 years in prison to figure this out. The above formula is just one example, the key is to develop your Personal Motivation Formula and stick to it every day.

 Some people don’t try… they just say “I don’t know what I want“. One thing you can count on in your journey is that human beings are “meaning seeking creatures”.

 Keep investigating your “meaning” and you will find the answer. Next, keep your answer in front of you at all times and you will stay motivated. Your formula will make you unstoppable! 

 NO Excuses.

Bruce Keith

 

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Bruce Keith is an amazing person and a good friend of all of us here at Agent’s Equity. He is one of our best marketing partners and a true professional helping some of our best customers build their businesses.

Bruce will help you become a dramatically more effective salesperson by focusing on the 3 main aspects of the business of sales…..Time Mastery, “Real-Life” Sales Skills, and Repeatable Business Systems. The result is you become more efficient, you know “what to say and how to say it” and you perform your tasks consistently in a highly efficient fashion.

His proven strategies and techniques have helped 1000′s of salespeople take their careers to a whole new level in a surprisingly short period of time.

The books Bruce has written, the products his company has produced, and the highly successful coaching programs he runs provide an amazing combination to support salespeople all over North America.

If you want better results in a short period of time – then connect with Bruce Keith. As Bruce says, “The better you starts here!” Contact Bruce and his team today at www.BruceKeithResults.com


Some Simple Rules For Your Cash Flow Plan

Cash is obviously vital to running any successful enterprise and this is especially true in a seasonal business like selling real estate in Canada.

Here are some simple rules for developing a successful cash flow plan:

1. Don’t Be Unrealistic. Look at your monthly sales for the previous year as this will probably be a reasonable estimate of what you might achieve in the current year (all things being equal). Don’t assume that you will double your sales this year – that is probably quite unrealistic. Remember that this plan is designed to ensure that you have sufficient cash flow to be successful (not an exercise in projecting success).

2. How Long Before You Get Paid For Your Sales? On average, it will take 60 – 90 days to collect your commission. So unless you are taking a commission advance, don’t assume that you will get paid in the month that you make the sale.

3. Separate The Fixed From The Variable. Your business, like any other, has certain expenses that are predictable, seasonably consistent and must be paid every month – rent, phone, car payments, etc. Consolidate these expenses into one total fixed expense. This number will tell you what you must receive every month to stay in business. Your monthly receipts in excess of this fixed expense total represents what you have available for variable spending – particularly marketing.

4. Plan For Growth. If you are successfully covering your fixed and variable expenses and have some cash left over, you have a number of positive options. The most obvious is to figure out how to best invest some of the excess to grow your business. This will probably include expanding your marketing budget.

5. Plan For The Unforeseen. There is nothing wrong with planning for that “rainy day” or a great opportunity because the unexpected can happen. Either way you will be in excellent financial shape to “weather the storm” or capitalize on opportunities to grow your business.

Follow these simple rules and you will be well on your way to successfully managing your business.

Jim Trainor CPA, CA

 

 

 


How Much Money Should I Spend On Marketing?

There are lots of good answers to that question. Surely one of the most important things to think about is -

“How much does it cost for you to acquire a new client and close a sale?

Here’s some math to consider -

* Last year you spent $10,000 on (direct) marketing

* Number of new clients: 20

* Number of sales: 10

* Average commission: $4000

* Total commission: $40,000

* Average cost of each sale: $1000

So, all other things being equal, would an additional marketing expenditure of $5000 generate another $20,000+ in commission for you?

Think about it…..

Jim Trainer CPA, CA


What Every Agent Ought to Know About Real Estate Blogs….

You’ve probably been searching around the web for quite some time now, trying to learn how to make your real estate blog attract new business.

Having a blog allows you to show readers that you are professional, knowledgeable and the best choice to help them. A blog is a 24-hour, 7-day sales tool that works to build identity, trust and relationships. It is working even when you are not. Blogs have made many an agent the “go to” person in their local area or specialty.

One of the challenges for agents, however, has been coming up with blog content – things to regularly write about and post.

Don’t despair. You too can start attracting new readers, sellers and buyers with your blog. Here are some proven blog ideas that have worked for successful real estate agents.

* Write about an area restaurant – also talk to the owner about referrals
* List upcoming local events – talk to organizers about co-sponsorships
* Mortgage Tips & Tricks
* Home of the Month Contest – present an award and do a press release
* Arrange and list deals/coupons from area merchants – more referrals
* Interview a local trades person – advice on renovation, landscaping, etc
* Share a great joke
* Fixing credit scores
* Post area videos – easy to do and the search engines love video!

Yes, it’s true – you can make a real estate blog attract new business. You are only limited by your imagination. Schedule a small amount of time each week and share your thoughts from your corner of the world. You can even get your kids, a friend or an assistant to help.

Just a couple of thoughts – hope they help!

May your next deal be double-ended.

Warmest regards,

Joe

Joe Johnston
Vice President, Agent & Broker Services
Agent’s Equity


Don’t Even Think of Doing Your 2014 Business Plan Until You See This…

At Agent’s Equity we really do love our agents and we want to help you succeed in every way possible!

Seems like every day I talk to agents who are trying to figure out how they can best grow their businesses and incomes. They want to move ahead, but they often find themselves just giving up out of sheer frustration. Maybe they tried to master some new marketing ploy, etc, but the whole process was so confusing that they just got overwhelmed.

Analysis paralysis, anyone?

After seeing this happen time and time again, I knew I had to do something to help. And that’s why I asked Bruce Keith (yes, the super-duper-deluxe Real Estate Coach) to assist you in making 2014 your best year ever!

If you could use a hand in making 2014 “your year” – then check out this short video and FREE resources Bruce Keith has for you.

Happy selling!

Just a couple of thoughts – hope they help!

May your next deal be double-ended.

Warmest regards,

Joe

Joe Johnston
Vice President, Agent & Broker Services
Agent’s Equity


Free “Get More Clients Now!” Video Training From Agent’s Equity

As a member of the Agent’s Equity community,  you can now claim your FREE video training on the “Top 10 Secrets to Get More Clients Now!” (valued at $47) here: www.10secretstomoreclients.com/agentsequity

You know we love our agents – so we went to Ingrid Menninga of Jolt Marketing and asked her for a favor. We wanted to see how she could best help us help you to generate more seller and buyer clients. She said – YES! How cool is that?

So if you are looking for tasteful marketing secrets that will show you exactly what to say and do to get more clients now -

Then you’ll definitely want to watch & listen to this FREE training video.

In this FREE Video Training you’ll discover:

•    Why you don’t need to spend a lot of money on marketing to get more clients now
•    What your most valuable asset truly is (everyone has it, but few people use it, and I’m going to share with you how to start!)
•    How to use the 3 keys to making more money quickly
•    The FATAL mistake to avoid that most Agents and Brokers make
•    How to move through fear and develop unstoppable confidence to enjoy the success you deserve

Learn how to get more clients now, enjoy making more money and avoid fatal mistakes in this FREE Video Top 10 Secrets to Get More Clients Now here: www.10secretstomoreclients.com/agentsequity

Enjoy!

Just a couple of thoughts – hope they help!

May your next deal be double-ended.

Warmest regards,

Joe

Joe Johnston
Vice President, Agent & Broker Services
Agent’s Equity