real estate industry: She Works Hard for the Money Part 18
- 10/01/24 05:29 AM
All small businesses have fixed costs ranging from rent to utilities to office supplies. For real estate agents and REALTORS®, there is the added business cost of dues. REALTORS® may have to pay more dues than real estate agents because of the affiliations with the local REALTOR®, State and National Association of REALTORS®. Additionally, if an agent wants to belong to more than one real estate association depending upon the policies and procedures of that second association, the brokerage for that agent may also have to join the agent. Another due is an annual payment for a device to store keys for
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real estate industry: She Works Hard for the Money Part 17
- 09/30/24 05:43 AM
As real estate agents are licensed through each state, there are certain requirements to continue to practice within the state's real estate industry. In AZ every two years, a licensed real estate agent must reapply for the license and enroll and pass a minimum of 24 continuing education units (CEUs). Each continuing education unit is one hour and those hours must be approved by the AZ Department of Real Estate. Within those 24 hours, the CEUs are already subdivided into mandated areas of real estate such as Agency Commissioner’s Standards Contract Law Disclosures Fair Housing Issues Real Estate Legal Issues Elective
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real estate industry: She Works Hard for the Money Part 16
- 09/23/24 07:12 AM
For many years, the public, consumers, entrepreneurs have been told being a real estate agent is “easy peasy money” as the cost to enter the industry is relatively low as are the ongoing costs to maintain being a real estate agent. Well, as in the movie “Independence Day” when the Secretary of the Department of Defense is responding to the alleged non-existence of a secret government lab when states “Well, Mr. President that is not entirely accurate,” and the President learns of the secret Area 51 government funded research laboratory. For any small business and yes, the majority of real estate agents
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real estate industry: Your Value Proposition Story Is?
- 05/21/24 05:02 PM
Today, as real estate agents as well those who are also REALTORS®, we are exposed to article after article, seminar after seminar to webinar after webinar all centering around these two words “value proposition.” However, what is missing is how to share your value proposition in an engaging manner that shares your value without sounding pompous or arrogant and still builds trust. Possibly the path to sharing may revolve around your own personal story. Within this story you have the opportunity to build the relationship and ultimately begin to build trust by including your: Education Expertise Experience Essence REMEMBER: People buy from
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real estate industry: Are You Expecting to Be Spoon Fed?
- 05/21/24 07:53 AM
The National Association of REALTORS® offered at no charge the ABR certification (Accredited Buyer’s Representative) to its membership. During the last two days, the ABR webinar I attended was joined by over 2,000 REALTORS®. In the first five to 10 minutes of this online webinar as well as during the webinar revealed that many REALTORS® by their behaviors expected to be spoon fed. #1 Behavior Failure to download the PDF participant’s manual. This manual was set out weeks in advance when participants registered. #2 Behavior Failure to review (think read) the PDF participant’s manual. Several years ago I read a statistic from NAR
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real estate industry: Real Estate Agents Are Salespeople
- 04/21/24 05:14 AM
After reading the barrage of articles about all the changes or should I say impending doom in real estate such as real estate 3.0, more transparency, etc. the one thing that is not being said or highlighted is: Real estate agents are salespeople who are licensed! Pretty simple! And yet, how many real estate agents think of themselves as salespeople? I remember taking my 90-hour pre-licensing course and the instructor told all those in attendance that real estate was all about marketing and they as real estate agents were marketers. With over four decades of sales experience, I knew that was false and decided
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real estate industry: Wordless Wednesday – Opportunity
- 04/17/24 06:26 PM
The other day I came across this quote by Bayard Taylor. “Opportunity is rare, and a wise man will never let it go by him.” My sense is the reason opportunity is rare because wisdom is also rare. Year ago I read this quote by Marcel Proust: “The real voyage of discovery consists not in seeking new landscapes, but having new eyes.” Maybe this is why during economic downturns, there are more wealthy people created because they have changed their perspective, their eyes? And usually from what I read these individuals who became wealthy worked, had goals and learned how to overcome obstacles in their paths. With all
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real estate industry: People Buy From People They Know and Trust Not Technology
- 04/12/24 08:51 AM
Maybe it’s just me, but so many within the real estate industry are promoting the newest technology that being AI and saying AI is the future. Hmm I heard the same things about many products such as toys to even cleaning products in the past and I will not go into all the predictions (failed) about the climate. One of most frequent complaints I have received when showing homes listed by other real estate agents is the photographs. Here are some of the comments I have received: “Gee this looks nothing like the photos.” “Wow the rooms are much smaller than
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real estate industry: Time to Rethink Sales Presentations?
- 04/07/24 09:16 AM
Coming into the real estate industry, I was familiar with sales presentations. My past standard of practice was always to lean toward the facts and by having the presentation be educational. This approach allowed me to build trust especially if the potential client had shared previous negative experiences with other sales people. Entering this new industry, I read a lot about sales presentations. Most of these article focuses on glamour, glitz and all about the real estate agent saying “Look at me, I am wonderful.” The presentations were truly marketing marvels, but for me lacked data, facts, authenticity and differentiation. What I
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real estate industry: Motivational Monday – Perseverance
- 03/25/24 05:46 AM
Victor Hugo said it best: “Perseverance, secret of all triumphs.” To be successful, to triumph in life, in business and especially in real estate sales, one must embrace perseverance on a daily basis. Now, in 2024 for real estate agents given what has happened within the real estate industry, is not the time for the weak of heart or of mind to give up, to resign to the status quo. “Perseverance is a virtue that cannot be understated.” Bob Riley “Perseverance is failing 19 times and succeeding the 20th." Julie Andrews “The key to success in action, and the essential in action is perseverance.” Sun Yat-sen “In
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real estate industry: Wordless Wednesday – Thoughts
- 03/20/24 06:33 AM
Our thoughts reflect our attitudes as Zig Ziglar stated "Attitudes are habits of thoughts." Those thoughts are filled with words which we think consciously or unconsciously. Norman Vincent Peale understood the power of thoughts with these words: "When you change your thoughts, remember to also change your world." To change our thoughts suggests we may wish to consider changing the words we think such as: Close the Deal to EARN THE SALE Commission to COMPENSATION FEE Customer(s) to POTENTIAL CLIENT(S) Additionally, asking ourselves about these words as we share our thoughts within ourselves or with others. EMOTIONAL INTELLIGENCE – Do my thoughts and responses consistently demonstrate emotional intelligence? AUTHENTIC –
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real estate industry: A Good Re-Read – Change or Die
- 03/17/24 08:30 AM
With all the angst from the settlement of the NAR lawsuits, there is a lot of change forthcoming being forecasted by so called experts. For those who may have not read this book, Change or Die, the first time when I reviewed this book in May of 2023, maybe now is a good time to re-read it or read it for the first time. The author Alan Deutschman shared his research through various case studies about how human beings are resistant to change even though we as human beings have that ability. In Introduction Deutschman cited research heart patients, ex-convicts and autoworkers
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real estate industry: When Do You Do What You Love to Do
- 02/27/24 10:58 AM
FACT: The real estate industry is indeed a 24/7 business. To think real estate is part time is a foolhardy belief. Professional real estate agents receive calls, texts and emails before 6am and well after 9pm depending upon the time zone. These communications happen between Sunday to Sunday and even legal holidays are not free from property tour requests. Then there are those short notice showing requests which can thoroughly mess up an agent’s “when” schedule. As real estate agents are independent contractors, the time of "when" they work is up to them. Now some will voluntarily accept “seat time” or “desk time”
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real estate industry: A Good Read ~ The Ten Commandments of Business Failure
- 02/18/24 08:25 AM
Being in real estate as independent contractors (think real estate agent salespersons) or as a owners/brokers requires understanding the business side of the real estate practice. Unfortunately, many new to real estate and even some experienced real estate agents fail to fully understand and put into practice the necessary standards of practice, policies, procedures what one wishes to call them. In this book, The Ten Commandments for Business Failure, published in 2008 and authored by Donald R. Keough, former President of the Coca-Cola Company one learns how not to be successful. Often people skip the introduction of a book. However Keough writes in
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real estate industry: The Numbers Are In and Real Estate Is Not Easy Part Three
- 01/11/24 07:40 AM
With all the copycat lawsuits happening within the real estate industry due to this one word “commission,” a seller may wonder why should I hire a real estate agent? Looking at the numbers from Consumer Federation of America CFA, the odds are potentially in the favor of a seller as why not to hire a real estate agent. Why hire a real estate is a valid question? Often real estate agents fail to educate as selling a home is in an emotionally charged environment. Emotions run high. Sellers learn of bad experiences from other family and friends who have worked with local brokerages
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real estate industry: Tuesday Thoughts – Resolute
- 01/09/24 10:47 AM
What does it mean to be resolute? The Merriam-Webster Online Dictionary has as its first definition “marked by firm determination: RESOLVED” and the second definition is “BOLD, STEADY.” With all the angst in our industry coupled with the 2024 economic predictions, real estate agents as well as sellers and buyer must have “firm determination” as they move forward into 2024. This begs the question of how to be resolute with so many challenges, obstacles, call them what you will in front of us? For me, in my corporate sales experience, I weathered through the gas lines under Jimmy Carter and the mortgage interest rates
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real estate industry: The Numbers Are In and Real Estate Is Not Easy Part Two
- 01/08/24 12:58 PM
For those considering a career in real estate, do you know the failure rate of licensed real estate agents? One recent survey by Consumer Federation of America (CFA) revealed 47% of the licensed real estate agents surveyed in four (4) areas sold no homes or just one home in 2023. Possibly, before you leap into real estate as a career, I would encourage the following: Undertake research by Interviewing both relatively new and experienced real estate agents from different brokerages Visit your State’s Department of Real Estate Website and identify what is required to be a licensed real estate agent Interview different
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real estate industry: A Good Read ~ People Love You
- 01/07/24 06:02 AM
With all the angst expressed by many within the real estate industry on all sides of the aisle, this book by Jeb Blount, People Love You The Real Secret to Delivery Legendary Customer Experience, may worth the read. Blount looks at the customer experience through several different lenses. In Chapter One, What’s Love Got to Do with It, he shared his own very poor customer experience with an airline. One could easily replace airline with selling or buying a real estate property. Within this book of 180 pages, divided into nine chapters, the reader is taken back to the customer experience. In
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real estate industry: Wordless Wednesday – Our Mindset
- 01/03/24 10:07 AM
"Whether you think you can or you think you cannot, either way is correct." This quote is attributed to Henry Ford. Our mindset which is essentially our attitudes that are habits of thought (Zig Ziglar) direct our behaviors, our actions. No one can see our mindset but they can see our behaviors, our actions. With all the uncertainty in the real estate industry along with the local to national economies, viruses, weather, personal safety, one’s mindset is increasingly important. That mindset can be one of abundance or scarcity. We can begin each day with positive, emotionally energizing thoughts or with negative, emotionally draining thoughts. Is
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real estate industry: Wordless Wednesday - Copycat
- 12/18/23 06:36 AM
Funny thing about human behavior, once folks see a pocket full of money they jump on the bandwagon to secure some of those funds. Back in school days, instead of money, the desired result was to secure better grades. Today the real estate industry is experiencing a plethora of copycat lawsuits. Not only are real estate brokerages being sued, so are multiple listing services as well as local to state REALTOR® associations. Today, copycat behavior is being experienced in multiple ways such as: Cyber attacks increase because of copycat behavior Unethical behavior is rampant because of copycat behavior Crime is increasing because of
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