The market is shifting again and as real estate agents we need to move with the tide. For the last couple of years sellers had control of the market. Most agents working with buyers during this time were no stranger to bidding wars. As this market shifts we are going to potentially see an increase in inventory and less buyers flooding the market due to interest rates. This will take us into the buyers market where buyers again have control of the market. 

With that being said we need to be prepared. Too many agents waste too much time taking out unqualified buyers with no strategy. In this video we are going to break down 1 strategy that will help you save time, gas and build loyalty with your buyer clients. Here is the 5 step process in conducting the best buyers presentation.  

Step 1: Build rapport and ask light questions 

Step 2: Dive deeper into your clients financial situation and ask heavier questions 

Step 3: Go over listings to understand the clients desires and needs.

Step 4: Identify leverage and how you can assist them

Step 5: Close for the agent client relationship.

If you are interested in a detailed breakdown of the qualifying questions check out the video above for an in depth breakdown of the buyers presentation.

0:00 - Introduction
1:27 - First Tip | Do Not Save Too Much!
2:14 - Second Tip | Earning More Money
3:01 - Third Tip | Not Living Beyond Your Means
3:34 - Fourth Tip | Diversify Your Assets/Investments
4:45 - First Asset Class To Battle Inflation | Difi
5:01 - Second Asset Class To Battle Inflation | Crypto Market
5:30 - Third Asset Class To Battle Inflation | Stocks
5:50 - Fourth Asset Class to Battle Inflation | Rental Properties
6:10 - Conclusion

In this video I discuss when is the right time to scale and start acquiring buyer's agents on your team. For those of you who don't know, I actually have a team of about 37+ agent and brokers that I currently work with across New York, North Carolina and Florida. We are scaling all over the nation! But before that, I was a solo agent, like many of you, and I was struggling to build my team, because I was skipping steps – I was trying to "save money" and not spend so much. 

How Do You Scale Properly

Your business is on fire, you're getting a lot of deals through the pipeline, and you're starting to make money, right? 

How do you know when is the actual right time to add a buyer's agent to your team? The right time is when your lead generation is performing really well. Whether it's doing Facebook ads, google ads, zillow premier agent, or whatever you're doing. Once you're getting an abundance of leads, some of them are slipping through the cracks, your conversion ratio is sky high, (2% to 3% conversion ratio), and you're doing a really solid job.

Once you have all that covered, then it's the right time to get ISA.

I know what you're saying. You're like, wait, we're talking about buyer's agents, right? The buyer's agent side of it shouldn't come until after you get a Virtual Assistant (and/or Transaction Coordinator). I've been burned here. Many times I tried to skip this step, because I didn't want to invest in my own business in that aspect. I thought it was a waste of money, I could "do it on my own". The truth is, that the first thing you're going to want to do is get an ISA (inbound sales associate/assistant) to handle the influx of leads that are coming in so that they're not slipping through the cracks.

Now your only job is to convert them into a client (after your ISA converted them into an appointment), show them and close them.

Who Handles The Transaction Side?

You can outsource this to the ISA, but I wouldn't recommend it. I highly recommend that the ISA is hired first and then from there you're going to get a Transaction Coordinator. Remember, the buyers agent is the third step! Some brokerages offer a transaction coordinator where their only job is to follow up with the attorneys, the appraisal, final walkthroughs, etc. 

You can hire a Virtual Assistant (VA) – which can cost you anywhere from about $6,000 to about $10,000 per year. 

Once you have five to eight clients at any given time, that's when you're going to start needing a buyer's agent to handle any extra clients that you're getting. Typically handling MORE than 5-8 buyer clients at any given time is going to cause stress. When we're stressed...we make stupid mistakes.

You've got the I.S.A. to handle calling and converting new leads to appointments, you'll handle converting those appointments to showings/deals, and your T.C. or V.A. will handle the transaction coordination.

This will allow you the mental and time space to handle training your buyers agent: what they should do on the showing, how they should close, how they should negotiate, how should they run comps, etc. 

I don't recommend getting a buyers agent first. I've made that mistake and it's really not worth it because you become the admin and your job shouldn't be pushing paper around. 

You should be just focusing on money making activities, which is lead generation, conversion, showing and closing. That's what you should be focusing on a majority of your business. Once you start outsourcing all that paper work stuff and you start converting more, guess what? You're going to have a well-oiled machine. Now You can pick and choose what clients you're working with and it also frees you up to even go get listings! 

When you're getting listings you're feeding the system.

Getting your own listings will feed the funnel you've created. I know it can seem scary to start spending money on an ISA and then a VA/TC, but trust me – it's the best way to scale. Many team leaders feel regret about starting with a buyers agent. You don't want to become your team's admin.

Have questions? Contact me @alexfazelani or comment below!

The new year, 2022, is almost here and a lot of us are still recovering from our Thanksgiving-induced food comas. The mediocre agent is thinking to themselves, “When January first hits I’m going to close all the deals. Starting the first I’m going to be a new person” 

Meanwhile the Top Producing Agent is sitting in their bat caves eating leftovers and working on their fundamentals. The Top Producer knows that when January first hits they are not going to “start” ...they are just going to continue to dominate.  

So, here are 3 things you need to start working on figuring out now so when that clock hits twelve on December 31st there is nothing else to do but step into your greatness. 

Create Your Prospecting Mix/Marketing Mix 

Picking and planning the 4-6 ways you plan on obtaining business is imperative to your success. Are you going to call FSBOs, Expires, and Geo leads? Are you going to pay for online advertising through Zillow, Realtor and Homes.Com? Are you going to run Facebook, youtube pre-roll, or google ads? Are you going to do it the old fashion way by throwing and going to networking events? 

When you wake up on New Years Day the method should be plotted out. It's go time!

Need help developing your Prospecting and Marketing Mix? Check out our Business Plan for Real Estate Agents. 

Create Your Follow-Up Strategy 

Having 4-6 methods of getting your name out there is great, but what's the point if you have no follow-up game? You need to have a follow-up strategy in place to nurture those people you are meeting through your prospecting and marketing mix. Relationships are the name of the game so having your automation and reminders set up is not only highly recommended, but necessary.  

Revisit Your Marketing Budget 

How much money did you make last year? How much did you spend? What marketing methods worked? Where can you cut the fat? What can you double down on? 

The well-known adage that states, “in order to get where you're going you need to first understand where you have been” could not be more true. 

Last year you might have put all your marketing dollars into Zillow Premier Agent, but maybe now most of your business is coming from open houses and door knocking. You may be a stone-cold killer on the phones, but you spend most of your time handing out flyers on the train. We all have strengths and weaknesses. 

What helps me grow my business may not be the best route for you. You should invest in your strengths and cut the budget or cord on what is not working well.

If at the minimum you get these fundamental three things lined up for 2022, you are going to start your New Year on the right foot. I love turkey – who doesn’t love tryptophan-induced slumbers? But don’t nap your way into another mediocre year. Let’s make 2022 the best year of your career!