With many of our clients, our concern is that the buyer business of many teams is broken. Even if the team closes 25, 50, or 100 buyer deals via buyer’s agents, the profit may be zero or very low. Let me walk you through an analysis. Here is a sample budget model for a large team with low profit
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06/24/2014
Are you running a bozo buyer business? It is very frustrating. There is no shiny squirrel you can buy to make it magically better. Business is hard. Buyer business is hard, but the profits are solid with the Billion Dollar Agent model. Billion Dollar Agent Manifesto Statements Here are some ma
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06/23/2014
Continuing on from my last blog about Buyer Business…What happens next after you seed the big picture? Agents usually decide to build a team and hire their first buyer’s agent. Overall, I would fire 80 percent of buyer’s agents. I believe that almost every top coach in the country would agree wi
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06/10/2014
New real estate agents often work mainly with buyers, doing open houses, getting buyer referrals from their broker, or other agents in the office who do not want to work with buyers, and doing buyer relocation referrals. By working with buyers, you will get exposed to inventory, buyer needs, and
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06/08/2014
You start real estate working with buyers. As your business grows, you get your first listings and start working with sellers. As you succeed, you focus more on sellers and less on buyers. You start to drop and ignore buyer leads that would have converted $5,000 to $10,000 commission checks a ye
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06/02/2014
Okay, I promise this is the last I’ll write about expireds for now…but it’s a huge topic and I promise to revisit down the road. What percent of market share are you getting of expireds that relist and sell with a different agent within one year? Until your number is 20 percent, the job is not d
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06/01/2014
Usually, agents only think in terms of how much they would pay for a referral fee, how much they would like to spend for marketing, and how much it costs to buy a lead. Let’s review an expired at $200,000 for $6,000 in GCI. Referral Fee - Most agents would happily pay a 25 percent referral fee o
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05/29/2014
Do you watch Shark Tank? I saw Barbara Corcoran speak last week at a Dallas Mastermind and she was fascinating. I have a wild idea involving Barbara Corcoran endorsing some top agents with her brand and some bigger ideas. Would you like to have Barbara Corcoran endorse you and use her name/brand
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05/27/2014
Continuing on from my last blog, ‘Expired Marketing is Hard’ I’d like to explain here why that is. Expired marketing is hard because it requires a mix of unique talents from three different people: · Database Management - You need to organize and manage the constant stream of expireds, re
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05/20/2014
Expired marketing is a key profit pillar for a Billion Dollar Agent. All Billion Dollar Agents should fully commit to expired marketing sooner or later. Expired marketing is best done by a strong, well established team with solid listing expertise and a successful record and even then it’s hard t
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05/19/2014