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Scary Mistakes Real Estate Agents Can Make in This Market [2022]

Posted by Amanda Bohorquez on

In the spirit of Halloween, let's break down some scary mistakes Real Estate Agents and Brokers can make in THIS market.

#1 Not Knowing Your Client's UPDATED Purchasing Power

Have you been working with the same buyers since 2020 or 2021? Hopefully they're not walking around with a pre-approval that was run 6 months ago. Even a 3 month old pre-approval could be outdated in this market. Why is this scary?
Well, if your client was pre-approved with a 4.8% interest rate 8 months ago on a $500K home their monthly payment could have been $2,623/M. That same home with a new interest rate of 7.5% could be a monthly payment of $3,496. For many home buyers...that's just not an option. That change could easily KILL THE DEAL! 😱
*We aren't mortgage lenders, these are rough numbers to help illustrate why your clients NEED to have updated numbers to go shopping.

#2 No Educating Your Sellers On The Current Market (Yesterday's Price is NOT Today's Price)

There are still homeowners out there who believe they can get 70+ above asking price offers on their semi-updated home. That's just not the case right now – in many markets. Is it still a great time to sell – definitely, but you've got to be clear with your seller clients about the current state of the market and what that means for their home. Including what shopping for a home will be like on the other side of the transaction.

#3 Not Locking In The Rate

More often than not, in this particular market, if your buyer is serious, it's going to be a good idea to LOCK IN THAT RATE! Yes, there will be a cost associated with it, but if you read mistake #1 you understand how detrimental an increase in the rate could be for your client's buying power.

#4 Not Qualifying The Buyer Before Accepting Offers

If you're a Listing Agent this one's for you. Yes we said in #1 that buyer's agents should be making sure their buyers have updated pre-approvals. As a Listing Agent there has never been an even more important time to DOUBLE CHECK the qualifications of a buyer when presenting offers to your seller. Don't take the buyer's agents word for it (no offense to them). You don't know what THEY don't know and that could lead to a dead deal, and a bad experience for your seller client.

What are some mistakes you're seeing Agents & Brokers make in this market? Share in the comments below!

SHOP BEST SELLERS

 

Read more

Scary Mistakes Real Estate Agents Can Make in This Market [2022]

Posted by Amanda Bohorquez on

In the spirit of Halloween, let's break down some scary mistakes Real Estate Agents and Brokers can make in THIS market.

#1 Not Knowing Your Client's UPDATED Purchasing Power

Have you been working with the same buyers since 2020 or 2021? Hopefully they're not walking around with a pre-approval that was run 6 months ago. Even a 3 month old pre-approval could be outdated in this market. Why is this scary?
Well, if your client was pre-approved with a 4.8% interest rate 8 months ago on a $500K home their monthly payment could have been $2,623/M. That same home with a new interest rate of 7.5% could be a monthly payment of $3,496. For many home buyers...that's just not an option. That change could easily KILL THE DEAL! 😱
*We aren't mortgage lenders, these are rough numbers to help illustrate why your clients NEED to have updated numbers to go shopping.

#2 No Educating Your Sellers On The Current Market (Yesterday's Price is NOT Today's Price)

There are still homeowners out there who believe they can get 70+ above asking price offers on their semi-updated home. That's just not the case right now – in many markets. Is it still a great time to sell – definitely, but you've got to be clear with your seller clients about the current state of the market and what that means for their home. Including what shopping for a home will be like on the other side of the transaction.

#3 Not Locking In The Rate

More often than not, in this particular market, if your buyer is serious, it's going to be a good idea to LOCK IN THAT RATE! Yes, there will be a cost associated with it, but if you read mistake #1 you understand how detrimental an increase in the rate could be for your client's buying power.

#4 Not Qualifying The Buyer Before Accepting Offers

If you're a Listing Agent this one's for you. Yes we said in #1 that buyer's agents should be making sure their buyers have updated pre-approvals. As a Listing Agent there has never been an even more important time to DOUBLE CHECK the qualifications of a buyer when presenting offers to your seller. Don't take the buyer's agents word for it (no offense to them). You don't know what THEY don't know and that could lead to a dead deal, and a bad experience for your seller client.

What are some mistakes you're seeing Agents & Brokers make in this market? Share in the comments below!

SHOP BEST SELLERS

 

Read more


7 Digital Marketing Strategies for Real Estate Agents

Posted by Amanda Bohorquez on

Digital Marketing is the name of the game these days, but it can seem overwhelming to come up with ideas for your Real Estate Business. When you do find or think up ideas of your own, it can then feel overwhelming to choose which ones to focus on. In this video Amanda Fazelani breaks down 7 Digital Marketing Strategies/Ideas Real Estate Agents and Brokers can use to grow their business and close more deals. These strategies are tried and true, and personally tested by our Team of over 35 Agents and Brokers. Have questions? Chime in on the comments below and we’ll answer!

SHOP BEST SELLERS

 

Read more

7 Digital Marketing Strategies for Real Estate Agents

Posted by Amanda Bohorquez on

Digital Marketing is the name of the game these days, but it can seem overwhelming to come up with ideas for your Real Estate Business. When you do find or think up ideas of your own, it can then feel overwhelming to choose which ones to focus on. In this video Amanda Fazelani breaks down 7 Digital Marketing Strategies/Ideas Real Estate Agents and Brokers can use to grow their business and close more deals. These strategies are tried and true, and personally tested by our Team of over 35 Agents and Brokers. Have questions? Chime in on the comments below and we’ll answer!

SHOP BEST SELLERS

 

Read more


How to Work with a Real Estate Investor: Tips, Tricks and Advice for Real Estate Agents

Posted by Alexander Fazelani on

When you hear the term real estate investor what comes to mind? Usually, some inexperienced real estate agents consider investors "slick talking bottom feeders. They are only interested in a good deal and willing to pimp real estate agents out in order to put more money in their pockets."

Ironically, when I first got into the business I thought the same. However, the more I came across investors and started working alongside them I quickly realized that working with real estate investors is one of the most lucrative avenues we can take as real estate professionals. Also, they usually don’t talk as slick as we think. We are often on the same side most of the time.

Not everyone is looking to put their home on the market. In fact, not every homeowner is in the same situation. By adding instant offers to your sales pitch you will likely convert more listing and make quicker sales. You also might even find yourself getting into the investing space yourself with wholesaling, flipping, holding, and developing.

 

If you want to collaborate and close deals with Real Estate Investors there are a few key things you'll need to understand. No matter what's happening in the real estate market...investors are always buying. Being able to work with them can keep you and your pipeline full – always!

Be Proactive & Direct

This goes without saying for ANY of your prospects/clients, but this is especially true for investors. Just like you, they too are running a business and if they're working with you there's a level of honest, transparency, and communication they will expect. Don't be a sugar-coater. You may not even know how experienced the investor is and sugar coating the situation of a deal could harm not only their pockets and livelihood, but YOUR reputation! I share a perfect example of this in this video.

Speak & Understand Investor

There are unique acrynoms and some lingo investors typically used. For example, ARV (After Repair Value), NOI (Net Operating Income), Cash-on-Cash Return, 1031 Exchange, and more. Study up on these and others so when they do arrise in a conversation you know what you're talking about.

Identify Numbers

If an investor is "Buying and Holding" you've got to know what the rent roll is. If they are Flipping the property you need to be able to break down the top and bottom of the market. Bonus points if you can shed light on what finishes consumers are loving.

Get Good At Finding Deals

I know, you may be thinking – well, if I can find really good deals why wouldn't I just buy them for myself? ...Think BIGGER. There may come a time in your career where YOU are the investor, but it's still very possible to hone those skills, earn money, AND build relationships on the way there. If you get good at finding deals you'll always have a pipeline, and you'll always have investors happy to collaborate with you.

Don't Marry ONE

Investors don't typically work with JUST ONE Realtor. Same applies to you. Many investors will have a certain criteria they are looking for in their portfolio. Which means the deals you find may not work for just one investor. Diversify your database and cast a wider net in order to make sure the deals you potentially find will have a MATCH in your CRM.

SHOP BEST SELLERS

 

Read more

When you hear the term real estate investor what comes to mind? Usually, some inexperienced real estate agents consider investors "slick talking bottom feeders. They are only interested in a good deal and willing to pimp real estate agents out in order to put more money in their pockets."

Ironically, when I first got into the business I thought the same. However, the more I came across investors and started working alongside them I quickly realized that working with real estate investors is one of the most lucrative avenues we can take as real estate professionals. Also, they usually don’t talk as slick as we think. We are often on the same side most of the time.

Not everyone is looking to put their home on the market. In fact, not every homeowner is in the same situation. By adding instant offers to your sales pitch you will likely convert more listing and make quicker sales. You also might even find yourself getting into the investing space yourself with wholesaling, flipping, holding, and developing.

 

If you want to collaborate and close deals with Real Estate Investors there are a few key things you'll need to understand. No matter what's happening in the real estate market...investors are always buying. Being able to work with them can keep you and your pipeline full – always!

Be Proactive & Direct

This goes without saying for ANY of your prospects/clients, but this is especially true for investors. Just like you, they too are running a business and if they're working with you there's a level of honest, transparency, and communication they will expect. Don't be a sugar-coater. You may not even know how experienced the investor is and sugar coating the situation of a deal could harm not only their pockets and livelihood, but YOUR reputation! I share a perfect example of this in this video.

Speak & Understand Investor

There are unique acrynoms and some lingo investors typically used. For example, ARV (After Repair Value), NOI (Net Operating Income), Cash-on-Cash Return, 1031 Exchange, and more. Study up on these and others so when they do arrise in a conversation you know what you're talking about.

Identify Numbers

If an investor is "Buying and Holding" you've got to know what the rent roll is. If they are Flipping the property you need to be able to break down the top and bottom of the market. Bonus points if you can shed light on what finishes consumers are loving.

Get Good At Finding Deals

I know, you may be thinking – well, if I can find really good deals why wouldn't I just buy them for myself? ...Think BIGGER. There may come a time in your career where YOU are the investor, but it's still very possible to hone those skills, earn money, AND build relationships on the way there. If you get good at finding deals you'll always have a pipeline, and you'll always have investors happy to collaborate with you.

Don't Marry ONE

Investors don't typically work with JUST ONE Realtor. Same applies to you. Many investors will have a certain criteria they are looking for in their portfolio. Which means the deals you find may not work for just one investor. Diversify your database and cast a wider net in order to make sure the deals you potentially find will have a MATCH in your CRM.

SHOP BEST SELLERS

 

Read more


Facebook Ads Mistakes Real Estate Agents Are Making in 2022

Posted by Amanda Bohorquez on

 

Running successful Facebook Ads in 2022 looks a lot different than it did in 2019 or 2020. So much has changed, including updates caused by the iOS 14 update with Apple. There are some key mistakes Real Estate Agents should avoid making when running Facebook Ads. Mistake #3 is a big one that many real estate agents haven’t updated in their mindset in a long time.

SHOP BEST SELLERS

 

Read more

Facebook Ads Mistakes Real Estate Agents Are Making in 2022

Posted by Amanda Bohorquez on

 

Running successful Facebook Ads in 2022 looks a lot different than it did in 2019 or 2020. So much has changed, including updates caused by the iOS 14 update with Apple. There are some key mistakes Real Estate Agents should avoid making when running Facebook Ads. Mistake #3 is a big one that many real estate agents haven’t updated in their mindset in a long time.

SHOP BEST SELLERS

 

Read more


How To Get Over Fear Of Cold Calling

Posted by Alexander Fazelani on

One of my biggest flaws early on in my real estate career was my fear of rejection! For most of us in Real Estate, it's completely normal, but on the other hand the top 10-20% of real estate agents are making six figures to 7 figures per year. They all have one thing in common – they do some type of cold prospecting, whether it be door knocking or cold calling. 

If you want to be a Top Producer, don’t want to break the bank, and want to grow a pipeline that will constantly be fed..then prospecting daily is the name of the game. Now, how do you get over the fear of rejection? Let’s break down three techniques that you can utilize in order to overcome it!

Scale Up Slowly

A lot of real estate coaches will tell you to dive in, spend a minimum of 2-4 hours per day cold calling geo leads, expireds, and FSBOs. The truth is, this can be overwhelming if you’re new to it. Another way is to start off with just 10-25 calls. Scale up day-by-day. As you scale, you will become more comfortable with hearing NO than if you jumped straight into 300-400 calls per day from day one.

Listen To Others

Listening to someone that does it on a consistent basis, that's actually more skilled than you, can really open your mind. You’ll hear them deal with rejection, see them recover quickly, and move on to the next. This will help instill the idea in your brain that it’s 100% possible to do this and you have nothing to lose and so much to gain.

Watch the video for the 3rd tip!

SHOP BEST SELLERS

 

Read more

How To Get Over Fear Of Cold Calling

Posted by Alexander Fazelani on

One of my biggest flaws early on in my real estate career was my fear of rejection! For most of us in Real Estate, it's completely normal, but on the other hand the top 10-20% of real estate agents are making six figures to 7 figures per year. They all have one thing in common – they do some type of cold prospecting, whether it be door knocking or cold calling. 

If you want to be a Top Producer, don’t want to break the bank, and want to grow a pipeline that will constantly be fed..then prospecting daily is the name of the game. Now, how do you get over the fear of rejection? Let’s break down three techniques that you can utilize in order to overcome it!

Scale Up Slowly

A lot of real estate coaches will tell you to dive in, spend a minimum of 2-4 hours per day cold calling geo leads, expireds, and FSBOs. The truth is, this can be overwhelming if you’re new to it. Another way is to start off with just 10-25 calls. Scale up day-by-day. As you scale, you will become more comfortable with hearing NO than if you jumped straight into 300-400 calls per day from day one.

Listen To Others

Listening to someone that does it on a consistent basis, that's actually more skilled than you, can really open your mind. You’ll hear them deal with rejection, see them recover quickly, and move on to the next. This will help instill the idea in your brain that it’s 100% possible to do this and you have nothing to lose and so much to gain.

Watch the video for the 3rd tip!

SHOP BEST SELLERS

 

Read more