Well Do You Know Your Market

Greg Harrelson & Abe Safa discuss market stats and what information you should know and be able to communicate to clients.

Start off the week with a few stats.

 

You have to know the data!

 

You're looked at as an authority when you are the one who brings the data!

 

The information is not as valuable as our interpretation of it.

 

How Well Do You Know Your Market?

Generate more business by having a better understanding of your market. Greg Harrelson and Abe Safa discuss the importance of knowing your market statistics, as well as how you can use your market data to improve your business.

As a real estate agent, it’s essential to have a clear understanding of market statistics and trends. Knowing the numbers, how to interpret them, and how to communicate them makes all the difference in helping clients make decisions.

The Significance of Knowing Your Market

The real estate industry is data-driven. In order to compete, you need to know your market inside and out, what’s happening now, and what has happened in the past. This allows you to anticipate changes and better serve your clients.

When consumers are uncertain about market conditions, they tend to be hesitant about making a move. Abe mentions that “It’s imperative to have many data points that you can give to them to help them make a decision.”

It is your job as an agent to be the expert and provide clarity about what is going on in the market, enabling clients to make informed decisions based on solid data.

What Data Should You Focus on When Researching the Market?

Knowing your data differentiates you from other agents who may not be as knowledgeable about the market or who are presenting outdated information.

Some critical data points to focus on include:

  • Inventory level
  • Absorption rate
  • Trends for showings
  • Mortgage applications
  • National and local data

It’s not just about knowing the numbers; it’s about understanding what they mean. You need to be able to explain the data in a way that is clear and concise without being overwhelming.

“Be an authority in their eyes. Know the market and then communicate the market,” advised Gabe.

Effectively communicating data means translating it in a way that will not only help your clients understand but will also provide them with insights into how this information will benefit or endanger them.

Simplicity and relevance should be your utmost priority when coaching clients about the real estate market data.

Takeaways

Market data changes daily. In order to keep up, you need to be in the habit of regularly checking your market stats. This way, you can be prepared for whatever comes your way.

Paying attention to the data helps you better understand what is happening and, more importantly, why it is happening. This knowledge gives you an edge over other agents who may not be as informed.

While market data is readily available for consumers, the many conflicting pieces of information can overwhelm them. As an agent, you must establish authority and ensure that you are the resource they can rely on.

By understanding the market, you can help your clients make smarter decisions. When you know what’s going on, you can explain things in a way that makes sense.

This helps build trust and confidence with your clients, which is essential for any successful business relationship.

 

Published on Sep 15, 2022 under ,

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Coaching Greg Harrelson SEO Marketing Real Estate Lead Generation Abe Safa

Is SEO Dead? SEO Basics

Is SEO Dead? SEO Basics

is seo dead

Generating traffic organically and getting a lead are different things, but these are not free. You actually have to do some things that cost time, and time is money. Generating leads means investing your time in building your website.

SEO is not dead, but a lot of people have given up. They don’t build out their websites and instead resort to buying these leads — not that anything is wrong with that. Fewer people are taking the time to build their website, and that’s now how you position yourself to rank.

How Google Ranks Websites

 

Logically, Google would rank a website if they think that it is worthy of being seen by their audiences.

If consumer experience will more likely be excellent on your website, then they would want as many people to see it.

Why? The better the consumer experience on your website, the better the consumer experience will be for Google users.

SEO and Customer Experience

If you’re a consumer, and you’re landing on your website, what kind of experience will you be having? For instance, if you have a certain market or community in mind, you will need to have a landing page made specifically for that community.

Pretend you’re a visitor looking for homes on your website. If you can’t find a particular landing page for a community, you’ll instantly opt out of the website. Sifting through the properties and looking for a specific price range will make consumers impatient.

This is why sidebars exist on a website, where you can list all those communities.

SEO and Its Challenges

The biggest challenge with SEO is that people don’t see its value. They don’t see it as an investment or that they’re going to gain rewards from it in one go.

If more people can see how many leads they can get from it, many people will actually value SEO more. If they can see its value from start to finish, then everybody would be investing in SEO.

SEO is an investment of time where you can expect a rate of return in the long run. Going back to user experience, what if a user clicks on a community page on your website, then they see a video where they can see the amenities and other benefits of living in the community? The experience will be great, so the user will most likely click on the other pages and bookmark your website.

Organic Leads Are Not Free

 

You Have to Build Out Your Website

 

Bad Buyer Experience vs Good

 

Main Takeaways

Google tracks every website activity you have, so they know when your prospective customers are pleased with your website. In a nutshell, these are the SEO basics that may help with your website:

  • Make sure that you’re thinking about the user upon building the website.
  • Build more pages.
  • Long-tailed terms are key. You don’t have to take classes for this. You just have to use infrequently searched terms for less competition and higher potential to rank.
  • Use the sidebars to link to internal pages on your websites.
  • Use external sites to get more traffic.
  • Blog on other sites, and backlink it to your website. Make sure the content is evergreen.
  • Post your websites and blogs on social media.

 

Learn More About SEO, Area Pages, and How to Maximize Your IDX Website

For a deeper dive on how to leverage your IDX website and build out landing pages that convert, watch our Keeping It Real Episode: The Power of SEO and Area Pages w/ Bob McCranie

Coaching Greg Harrelson Real Estate Lead Generation Abe Safa

How to Manage The Shift

How to Manage The Shift

manageshift

Admit That It’s Real


We all know that things are changing and there’s a lot of uncertainty in the stock market and economic inflation. You must first start by admitting that it’s okay. The market is going to be different now than it was before. Get ready for what needs to be done to find opportunities in this shifting market.  

Take 30 Minutes and Hit Pause 


Before doing what needs to be done, you need to take a step back for 30 minutes and just think about your business. Write down five things you must adjust, assuming the market is shifting.

This gives you time to think. People are always rushing and are constantly stressed out, and having a break will give you time to be creative. Do this during the morning when your mind is still fresh. 

Set a New Daily Contact Goal


Talk to at least 20 people a day and just check in with them and see if they’re curious about whether the value of their home has changed or not.

See if they have questions about what is happening in the market. You could be a good resource if you open up the conversation. 

Get a Coach


If you’re in coaching right now, the big question you have to answer is, “Are you showing up for every call?”

And, if you don’t have a coach yet, who can be your coach?  

The problem in hot markets is that even though they can afford to have a coach, they do not do anything the coach says.

On the other hand, when the market is down, few people are getting into coaching because they are afraid they cannot afford it. Those that do show up and follow the coach thrive in a shifting market. 

Use Tech Tools To Increase Your Bandwidth


You’ve got one of the most powerful features in CRM out there with the workflows. It helps you connect with more people; this means more business. Connect and talk to at least 30 to 40 percent more people to do the same amount of business.

Don’t let your business go down just because the number of transactions in your market goes down.

Bandwidth means the number of people you can talk to within a certain period of time. Using technology and having an ISA will increase your bandwidth because you can communicate with more people in the same amount of time.

Rewrite Your Schedule and Eliminate Anything You Cannot Track a Positive ROI From


Look at your schedule and all the things you consistently write there and ask yourself what your ROI is. If you have a hard time answering that question, you need to think twice about whether that needs to be in your schedule.

Re-evaluate your schedule and eliminate stuff that doesn’t contribute to investments’ gains.

Get an Accountability Partner


Do so and set your goals. You can have two or three accountability partners to help you stay on track. Having an accountability partner will motivate you on days when you don’t have a hundred percent in you. The sizzling hot market can make you create bad habits and lose focus.  

Work on Your Mental Endurance


You need to have the mental endurance to stay the entire day. Talking to 20 people a day is no joke. Stick to the game and avoid all distractions that come your way.   

Work on Your Physical Endurance


This is a good time to get back in shape because you will be needing that energy and stamina. Having good physical endurance makes you think more clearly and perform better. The physical side really helps the mental side. One way to break the pattern of lack of motivation is to start increasing your physical strength. As Tony Robbins would say, physiology dictates your psychology.  

Know Your Numbers To Know Your Market


As the market is shifting, your market knowledge becomes more valuable. Start separating yourself from the rest of the market. Gather all the data to have conversations with people about what’s happening at the local or national level, stock markets, interest rates, or inflation because people are talking about this now. You need to be able to have intellectual conversations with sellers and buyers on these topics. 

Remember: your job is to be able to find the data that makes the buyer comfortable moving forward. These buyers know all the news around them, and you need to present the data that will otherwise make them feel confident about buying. Your job is to bring certainty to a world full of uncertainties; that’s what they need right now.

The shift doesn't mean the market has completely flipped...

 

A coach is an investment.

 

Tech, Tools, and Real Geeks

 

Calculate your value per hour.

 

Mental Endurance

 
Coaching Keeping It Real

Keeping It Real: The Resources To Equip Your Real Estate Team for Success with Sascha Chatman

Keeping It Real: The Resources To Equip Your Real Estate Team for Success

 

 

In this episode of Keeping it Real, Sascha Chatman and  Frank Klesitz, CEO of Vyral Marketing, break down how you can equip your real estate team for success.

Learn more about the resources needed to manage your own team of real estate agents. Of course, a capable workforce is one thing for generating leads and obtaining success in the real estate world. However, having the right resources available is one of the critical factors needed to equip your real estate team for success.

Recruiting Presentation 

Transforming Your Success into Their Success

Creating a Schedule

Buying this Year vs Next Year

Discovery Phase

The discovery phase is meant to determine whether or not the agents being recruited are the right fit for their real estate team while providing the necessary details for the agents to know what their team is about. Sascha first discusses their team goals and strategies to ensure agents know exactly what they're walking into. He also discusses other matters, such as expectations from the agents themselves and their commissions.

The discovery phase may be one of the most important parts of knowing how to equip your real estate team for success. In order to succeed, you need to have a reliable workforce on your side that shares the same goals and is willing to cooperate with the rest of the team to move forward. Having a compatible and efficient team is one of the best resources you can have in real estate, as it can significantly affect your business' productivity.

Ad Educated Buyer is Easier to Work with!

Agent Utility Belt

This is the highlight of the entire video. Sascha compares his utility belt of resources to Batman's belt of tools and trinkets. This belt essentially exists to store all resources and keep them within reach. Don't get the wrong idea, though. It's not an actual belt. Instead, it is usually a cloud or a compilation of all your valuable resources, such as videos, links, and other agent tools. Having a utility belt that is curated specifically for your team and your needs could help increase the productivity of your workflow because you won't have to scavenge for resources when you need them.

Not only does it make you more productive within your workplace, but it also gives off the sense that you are reliable and organized. When clients ask for something, you will easily have it within reach. 

Clients understandably have many questions before closing the deal, so one of the best ways to answer them is to grab a resource from your utility belt. For example, you're talking to a client about title insurance. Instead of answering their questions yourself, you could take an informative video from your utility belt and ask them to watch it. This makes it easier to understand and relate to.

Having a utility belt is a great way to equip your real estate team for success. It also comes in useful during business transactions. All in all, it's one of the best resources that a real estate team can have.

Having the right resources is essential in equipping your real estate team for success. Create an agent utility belt that caters to your team by signing up for the Real Geeks platform today. We provide valuable resources that you and your team can use to achieve the best possible outcome in every situation. Get started with us today!

Keeping It Real Real Estate Lead Generation

How To Generate Seller Leads in Low Inventory Market w/ Lisa Chinatti & Jason Posnick.

We are excited to welcome back one of our favorite guests, Lisa Chinatti, for this episode of Keeping It Real. Lisa is a top producer based in Westford, MA, with over ten years of Real Estate experience. 

Jason Posnick, the Sales Manager for the Chinatti Realty Group, also joined and has an enormous passion for developing others, solving problems, and conveying positivity into people’s lives.

The market is hot right now. A shortage in housing inventory has been a problem faced by real estate agents for years. As times change, you also need to adapt and learn how to generate seller leads even in low inventory areas. Lisa gives you her tips and shares what she and her team are doing to maintain their seller lead flow.

Lisa and Jason break down the most effective approaches to 5 different lead sources and how to create a plan that meets your needs regardless of which market you are in.

 

 

 Online Home Value Leads

People want to know what their home is worth. For this, they usually go to a landing page or web form where they have to input information that will help them discover just how much their home is worth in the market. How do you lead traffic to this page?

Lisa shares that the best way to get online home value leads is to be diligent with retargeting and email work. Some strategies you can do to approach this lead source is to also take advantage of Google Pay-per-Click (PPC) and Google My Business.

Having a lot of photos and geotagging them will increase your visibility as Google tends to favor local experts. Google reviews will also help drive traction, as well as links to your other content or social media pages.  

Circle Prospecting/Door Knocking

While circle prospecting or door knocking are considered older, traditional techniques, they will never die. How to generate seller leads through this lead source requires some timing and knowing the five touchpoints for circle prospecting. These five touchpoints include:

  • On the day of signing the listing

  • Before the listing goes to the market

  • Once the offer is accepted

  • On the day of the inspection

  • When the deal closes

Each of these five touch points necessitates a different message from which you could build your business. Instead of feeling like they’re talking to a company, which may be off-putting, consumers can view you with trust, which will convince them to do business with you.

Buyer Leads From Buyers Who Have a Home To Sell

Using ads strategically in your follow-ups can lead you to discover that a lot of buyers have a home to sell before they can make any purchase. There’s a big chance you can get buyer leads who have homes to sell by marketing Facebook posts towards listings and open houses.

In a low inventory market, it can be effective to market every new listing as a “coming soon.”

However, there are some workarounds that won’t get you in trouble with laws concerning coming-soon marketing. Along with Google PPC, this can prove to be an effective way to generate seller leads.

Google Local Services

When using Google services to generate seller leads, reviews are crucial. Reviews don’t just get you credibility, but they also tell Google that you’re a local business or service, which is more favored by their algorithm. Many potential seller leads also rely on Google reviews to see if an agent is right for them.

That said, building reviews increase your chances of being more visible while also convincing seller leads to contact you directly — especially when they want to know the value of their home.

Agent-to-agent Referrals

Agent-to-agent referrals are all about nurturing relationships with other agents regardless of your industry. Usually, people who want to sell their house will be moving to a different state, so they contact an agent in the state they’re moving to.

This agent can then send you a referral, so you can help them give the client a smooth transition and experience. This is only possible if you build relationships with other agents by giving value and sharing knowledge.

Put Yourself Out There

Learning how to generate seller leads in a low inventory market can take some time, but the effort is well worth it when you start generating an incredible amount of leads.

Begin by putting yourself out there and taking advantage of online tools like Google PPC, Google My Business, social media marketing, and email marketing.

Real Geeks' Real Estate Cost Per Lead Breakdown

Throughout our masterminds, exchanges with real estate industry professionals on The Keeping it Real podcast, and our every day, — a metric that everyone agrees is key to formulating your route to success as a real estate professional is the cost per lead metric.

Understanding your cost per lead metric will help you assess the amount of inventory in your market, understand your clients’ and prospective clients’ needs, assess where clients fall in their buying or selling cycle, and better understand your market. With your cost per lead metric, you can create a budget and a plan for any market or season you find yourself in.

Fill out the form below to receive an instant download of The Real Geek’s 2022 CPL Report that breaks down the cost per lead in the top 10 most prominent markets of the last year, the top 10 lowest cost-per-lead markets of the previous year, and the cost per lead breakdown of the 50 largest markets of the previous year.

Through our work managing Google and Facebook ad accounts for hundreds of real estate teams across the USA and Canada, Real Geeks can get a unique perspective of the market as a whole. Based on what we’ve seen, now is the best time in history to start investing in PPC leads.

Once you have assessed the cost per lead in your market, there are many ways to apply this metric to your strategy. Last week's Keeping it Real: How to Generate Seller Leads in Low Inventory Market w/ Lisa Chinatti & Jason Posnick, Lisa and Jason address the current issue of low inventory markets. As well as, break down the most effective approaches to 5 different lead sources and how to create a plan that meets your needs regardless of which market you are in.

 

 

In addition to constructing a strategy in response to low inventory markets and examining different lead sources, lead flow is also a factor to consider. If you have a small real estate team or have become overwhelmed with the number of incoming leads, you can deploy a texting assistant like Real Geek's Robin Geek AI to your workflow. Also, check out Keeping it Real's: How to Hire a Virtual Assistant to Cold Call Homeowners for Seller Leads w/JP Wells.

 

 

If you are getting started with building a workflow, check out: 4 Drip Campaigns You Can Activate Today and Get Huge Response, where Greg Harrelson & Abe Safa break down their favorite drip campaigns you can activate today using your Real Geeks workflow library, as well as a drip campaign of their own. 

There are plenty of ways to take your cost-per-lead metric and create a bulletproof lead workflow that works for you or your team. Check out our Keeping it Real: Bulletproof Real Estate Lead Follow-Up Plan w/ Brendan Bartic. We sat down with Brendan to discuss how his Denver real estate team sold 230 homes last year. He broke down his "bulletproof" real estate internet lead follow-up system.

 

 

If you’re spending money to generate online buyer and seller leads and are not happy with how many people respond to you or book an appointment, you’ll learn how to improve your results with our Keeping it Real: How to Convert More Online Buyer and Seller Leads to Appointments w/ Anna Krueger.