Working On Your Business Instead of In Your Business w/ Todd Tramonte

Working On Your Business Instead of In Your Business w/ Todd Tramonte

Join us for this episode of Keeping it Real with Todd Tramonte of DallasHomeRealty.com.

We will discuss how taking a step back to learn about business can provide more efficiency, working smarter, and the upcoming Unofficial Real Geeks User Conference.

The Unofficial Real Geeks User Conference 2022, hosted by Todd Tramonte's Real Estate Growth Systems, will be a gathering of over 300 real estate agents, team leaders, brokers, and owners from all over North America.

They will share everything from their best practices to lessons learned to grow and scale a successful real estate business. The Unofficial Real Geeks User Conference 2022 will gather live in person in Dallas, TX, on October 18-20, 2022! For tickets and more information, go to https://www.uRGuc.com

Get a FREE DOWNLOAD of Todd's Ideal ON vs. IN your business Residential Real Estate Professional Calendar:

 

Working on Your Business

What does it mean to “work on” your business?

More importantly, how do you work on creating a business that aligns with your goals, lifestyle, and values?

Along with Todd Tramonte, we’ll answer these questions and more on this episode of Keeping It Real.

Below, we’ll pick Todd’s brain on what it takes to work on your real estate business.

Working “on” Vs. Working “in”

 

Todd Tramonte establishes the distinction, drawing from Michael Gerber’s “The E Myth.”

When you work in your business, you’re performing the tasks necessary for the business to operate on a day-to-day basis. Some examples of working in your business include making calls, checking your Real Geeks funnel, or showing a property.

Working on your business involves coming up with ways to improve. This includes constantly envisioning structures and systems to optimize your business’s productivity and efficiency. This also involves identifying your company’s values and setting goals based on these.

 

The Value of Scheduling

Whether you’re working in or on your business, time is a scarce resource. For this reason, how you allocate your time matters.

Scheduling must account for time spent working in and on your business. Of course, how your schedule looks will differ from someone who’s working in your business.

As a leader, you may have to tweak your schedule to accommodate activities like planning, evaluation, and goal-setting — everything you need to do to work toward your business’s growth.

Working on Yourself to Work on Your Business

As the saying goes, we don’t rise to our expectations. We fall back on the level of our training.

Such is true with business. The more you train yourself on ways that facilitate growth, the bigger your business can get.

With that in mind, recognize that your need for learning and self-development continues when you transition to a leadership role. Developing new skills and learning new financial models will give you more resources to leverage as you scale and optimize your business.

Learn and Connect

“The gap between where you are and where you want to be might be a good book.”

Ask Todd Tramonte his secret for growth, and he’ll probably say this: read. But if you don’t like reading, learn from whatever platform you have at your disposal, like Youtube or Facebook groups.

Connecting with others in your niche also gives you a reservoir of feedback from which you can draw inspiration and information. This is why Todd is big on conferences and lunch get-togethers.

 

Step Back, Evaluate, and Plan

After some time, you need to see how your business is doing. However, you can’t make an accurate assessment when you’re task-saturated. For this reason, you need to take a step back to evaluate your business and plan accordingly.

Todd makes several recommendations, but he suggests scheduling quarterly planning days to step back and take stock of your progress.

Just Put the Work in

Ultimately, it’s all about starting, getting your reps in, making mistakes, and getting better.

Start with the intent to improve and execute these steps repeatedly. Even if some things go by the wayside, your consistency will carry you and your business through.

Keep these tips in mind, and your business will reach new heights.

Youtube

 

The Unofficial Real Geeks Conference 

 

 
Published on Sep 15, 2022 under ,

About

Real Leads by Real Geeks is a highly efficient and effective marketing solution for generating, capturing and managing home buyer/seller leads.

One of the best lead generation and management systems available. A fully integrated custom IDX and marketing solution to drive traffic, capture leads, manage-cultivate them and close more transactions.

Featured Articles

You don't have to take our word for it! We encourage you to do your research and talk to our customers to see why they chose to go with our solution.

Greg Harrelson Abe Safa

Understanding the Sales Funnel

Understanding the Sales Funnel

Understanding the Sales Funnel (1)

A sales funnel is a potential client’s journey towards a purchase. There are different phases in a sales funnel.

It’s important to know what the phases are and understand the characteristics of people in those phases by listening to what they are saying, which will clue you where they are in the sales funnel.

Understanding the funnel allows you to know good leads.

 

Everyone is somewhere in the sales funnel.

 

 

Every buyer was once in the dreaming phase!

 

3 Phases of the Sales Funnel

In today’s modern world, the real estate sales funnel has 3 phases:

Phase 1: Dreamy Phase

The dreamy phase is the very first phase of the sales funnel in which a person could be looking at all the properties to purchase, looking at the next home they could buy and move in, or trying to get a credit to purchase a property soon.

A person from New York City wishing to relocate closer to the seaside is a good illustration of someone in the dreamy phase. Another example is people that often expressed a desire to escape the winter.

The dreamy phase is when people who’re in a stage where they have no listings or agents, no job relocations or urgent reason for moving, but are expressing a desire to be somewhere else.

In other words, they are people expressing their desire to leave their current situation and residence. It’s where people daydream about going away but have neither a timeframe nor a specific location in mind.

Leads earlier in the funnel tend to be cheaper.

 

Exploratory Phase

In the exploratory phase, people searching for properties have a compelling reason to move.

Compared to the dreamy phase in which people say they want to move to a different location just to escape their current situation, the exploratory phase will now have more specific reasons to get more information.

Examples of people in the exploratory phase include those exploring and asking for more information about school systems, industries, and job opportunities in a specific location.

You can gauge from these questions that your client is now in a phase in which they are exploring options to meet their moving needs.

Buying Phase

When a person is in the buying phase, you can determine whether they need to purchase a property. It’s a stage in the sales funnel when you may assume they will be buying even though they aren’t implementing when, how soon, and what specific property.

After exploring the location, buying phase is getting the finer details before deciding to purchase. You can hear them ask for more information on homeowners’ tax deductions, closing costs, and more.

Leverage technology!

Bottom Line

There are no such things as bad or good leads in the real estate industry. All of them are in the sales funnel at some point; the only thing to know is the timeframe for them to convert. It’s possible that the bad leads you consider are still in the early phase of the sales funnel.

So, understanding whatever phase your client is in will help you position yourself to meet their needs and guide them through the sales funnel until they convert at the very last stage.

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

 
Greg Harrelson Keeping It Real Real Estate Lead Generation

Keeping It Real: You’ve got a new lead! Now what do you do? w/ Greg Harrelson

You’ve Got a New Lead! Now, What Do You Do?

Your marketing strategy has finally worked! Organic and paid leads are finally coming in. But now what? What is the next step to ensure that a new lead will go down the sales funnel and turn into a sale?

In this episode of the Keeping it Real podcast we sat down with Greg Harrelson to talk about what you should do as an agent. Keep these tips in mind so you’ll know how to take action and convert those leads into paying clients!

Definition of a contact

 

New Perspectives: The Right Ratio for Your KPI

Before everything, let’s discuss your key performance indicators or KPIs. Most agents refer to the contact-to-close ratio, which frequently shows low numbers. That’s why we want to introduce a better KPI to help shift your focus: capture to contact. 

This way, you can focus on increasing your number of conversations versus closings. You’ll be in touch with more people you can convert instead of contacting a few leads and converting even fewer.

Those who generate do not have to tolerate.

 

Reaching Out to Your Leads

Now that you have leads, it’s time to contact them using a method called double dialing or calling them twice. This changes their way of thinking and prompts them to answer you on the second call. However, if that doesn’t work, you can activate a workflow on the Real Geeks customer relations management (CRM) platform. That way, you’ll have as many touch points with the lead as you need to close the sale.

 

Make sure you’re in control of the platform or autoresponder and not the other way around. Your leads will be more willing to engage with you if there’s a recognizable human element to these communication efforts.

 

There’s No Dead Lead

As a real estate agent, you’ll want to abandon the phrasing “dead lead.” They might be inactive, or maybe they’ve simply “ghosted” you, but they’re probably still looking to buy a property — just not with you. You need to activate a workflow that will reengage them or contact them manually so they can have a one-on-one conversation with you.

 

Nurture the Lead, No Matter What Phase They’re In

You may encounter leads that are not ready to buy or leads that are just thinking of buying. Many agents abandon these leads in pursuit of those more likely to convert immediately. However, it’s essential to keep the three phases of a buyer in mind: dreaming, exploring, and buying.

 

If somehow a buyer calls you and is ready to buy, remember that they’ve probably talked to other agents who abandoned them early in the game, thinking that the buyer was still in the dreaming or exploratory phase. So be patient, nurture those leads, and take advantage of technology like the Real Geeks CRM to ensure that you manage them efficiently.

 

Realistic KPIs You Can Target

For a contact-to-closing ratio, 16% – 18% is good enough for the average real estate agent, but it’s low compared to the potential of a capture-to-contact ratio. For that, you can focus on getting at least 30% before aspiring for 60% – 70%. That’s an almost 300% increase in contacts, with no additional expenses!

 

Contact Real Geeks!

 

Ready to learn more about our real estate CRM? Contact us today and tell us how we can help! You can also watch this podcast episode on YouTube for a more in-depth discussion of the concepts above.

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.