Today we have a very very special guest: Amanda Yates! We’re going to talk about what it’s like to be a new agent.
Amanda is doing so well, she has 8 sales down now, in less than a year; which is an amazing job! Though Amanda was recommended to get into real estate before, it was only when she and her husband bought their first home and saw what a killer job their agent did, that she decided to take the big jump. She wanted to help people with real estate.
She worked 9-5 in a bank as an accountant before. She felt drained and wanted a change!
There are 4 personalities in real estate: expressive, driver, amiable, and analytical. What’s nice about real estate is that there is a type for everyone.
How were the first few months like? She first thought it was going to be a service job and hadn’t realized how many practicalities she would have to deal with everyday and how many people are actually involved with it.
Did she ever have second thoughts about being into real estate? The first few months were very exciting, though felt very ‘ADD’; You are trying to take it all in but it’s not until you get to practice all the theory you’ve been absorbing that things start to make sense. And she had her first transaction within 30 days!
What emotional challenges were caused from these second thoughts? They talk about the ‘real estate roller coaster’. It’s super exciting to close the first deal but, unless you treat it like a business, you’re going to go up and down the first couple months.
Was there ever a ‘ah-ha’ moment, when things ‘clicked’? Yes! They recently went to club wealth and she got to network with a ton of successful people; Seeing how people talked about Mike with so much respect, hearing it from other people too, was such an eye opener! Also sitting down with people that are like-minded and really getting to talk to them and realizing how well Mike’s training had prepared her was an important moment for her; She realized she had to treat real estate like a business. For example, when she now walks into a room, she’s picking up personalities!
Now that she has her feet really wet, based on her personality style, if she had to pick three things that she will be doing for the next year, what will it be? Because of her bubbly personality, she loves open houses. She also loves door knocking and will be picking up farming.
Does she wish she had done more/less training or was it just right to see the world of real estate, fast in 8 months?
She looks back and doesn’t regret the training. She has to remind herself to go back and re-absorb some of what she learned in the past.
How does she feel about the online leads? She has closed around 4-5 deals through online leads. So her call reluctance is down and she has come to realize that, as long as she keeps the mindset that she is here to help, so business will come!
If Mike gave her a time machine and brought her back 10 months: What does she think she would have done differently? She would have been to the office with more consistency.
Going from a full time job and a steady paycheck to fully commision based is terrifying! What made her jump the lead? She had an awesome broker that told her she could do it and the support of her husband!
Family. She’s been with her husband for 8 years. Her lifestyle and ever her own self has changed so much ever since she entered the business. Especially in the first months, it doesn’t take much for a relationship to get on the fence. The words: “maybe you should get a real job” can come up very fast. So you have to be strong when you get into real estate and keep a health balance between your personal and business life. And know your relationship and your partner. Real estate agents have the biggest divorce rate from each industry!
Some relationship advice? Remember to be fully ‘there’ and give your attention to your partner, when you decide to spend time together; Put your phone away and focus on what they say! You also have to learn to keep the stress of the day at the office. Use your team to keep you in your lane and when you are home, be home!
Mike recommends to only share success with spouses. Cry in the shower only. And then your spouse will be more supportive.
How’s her scheduling improved over time? In the corporate world, schedules are planned out to the minute while, in real estate, there is no schedule! Mike’s perfect daily schedule has helped Amanda discipline herself, though she is not going to micromanage herself neither.
Another skillset she has developed is the one of cultivating relationships and network; Wherever she goes, she takes the time to positively connect with the people around her and culture a connection with them. Talking to people 25/ day is simple, even if you’re typing back and forth through social media, this is still a contact you’re talking to!
Being on a team. Amanda was first reluctant to join a team, and was even first thinking of joining someone else’s team. Eventually, Mike convinced her to join his. Amanda’s advice is, if you think of joining a team, have upfront, in writing, how much your splits are going to be, so that you don’t get blindsided later on, once you get your check. However, understanding how much work and people are involved to make each transaction happen, the access that a team gives, and how much more business comes through, made Amanda realize what an amazing asset a team can be to further her career.
If you think you can spend thousands and thousands of dollars, a month, on overhead, that’s fine, but here’s what you have to ask yourself: I can go buy Mike’s market plan and what he wants to spend money on or I can do what I want to spend money on. And this is where the decision making is coming on.
So Amanda is now part of a team; What are some of the real feelings she’s gone through? She has learned to pay attention to the general energy and attitude of people when she says she is part of Mike Bjorkman’s team. How do the people of the community feel about it? What’s their body language and personality? If the personalities don’t match, it’s not going to work out. Accountability is also another huge element to look for and develop with your team members.
Would she rather join someone’s team because they will produce tons of leads, or would she rather be with someone who can teach her? It’s hard for her to say because she gets both from Mike’s team! Training is however huge as well as networking. If people don’t know your name, they’re not going to take your offer.
Final thoughts? The first year is going to be overwhelming and you’ll have to learn the business as quickly as possible or have a support team to help you. Having support is really big. Amanda is also a strong believer of Mike’s ‘law of attraction’; This whole year she had this mentality of trying to break even, which was a very low goal. She has now re-evaluated her goals and has even written them all over the place to visualize them! Her goal now is 40 transactions. It’s making sure that you are a well rounded individual.
Amanda can be reached at: email@example.com (805) 794-8328
Jesse Zagorsky co-owns Z Team Real Estate, a licensed California Real Estate Broker. He has been active in San Diego Real Estate for 10+ years, and has sold over 500 homes.
With a background in Marketing, Jesse loves creating a total marketing experience for each of ZTeam’s listings.
Jesse’s passion for Real Estate includes helping his clients find the perfect home, helping investors analyze possible returns, and Sellers maximize their sales price through tested techniques.
Back in 2010-2011, Mike and Jesse decided to conquer the REO world together; and they succeeded!
Today, Mike wants to give you 5 actionable items.
The biggest trend in retail real estate is purchasing online leads. And everybody is doing it. Jesse and Mike have made a commitment to come up with different systems, processes and procedures to get their team really dialed in. And they’ve succeeded! Jesse, with his great analytical mind, has become a master!
A lead is coming in, what do you do? Leads are the same, but different: All leads and potential clients are the same. All that changes is your intro and your call to action at the end. If you get a brand new lead, your call is to set an appointment. It’s obvious but not everyone realizes it!
So, actionable item 1: Book a face to face appointment (or at least, a video appointment).
How fast do we answer the call/call them back? These days you have to be way faster than the ‘within 5 minutes’ Harvard was claiming some time ago!
The difference between every lead type is that every lead has a little different call to action that is inspiring the potential buyer to click it and request info. Realtor.com leads are a lot further down the ‘buyer life cycle’ so if someone clicks the button, they are pretty much ready to see a house, or almost write an offer! Commissions Inc’s leads, which is mainly a paper click, are a little earlier on on the ‘buyer life cycle’. Realtor.com right now gives me a higher ROI than Commissions Inc leads. However, down the road, the longer you have a synced database and if you work it the right way, you will end up having a higher ROI.
Actionable item 2: Call within 30 second or answer your phone.
Try to decide what types of leads you want to buy or want to be involved in. Remember: The leads don’t suck; You suck! Every lead is a good lead.
Actionable item 3: Every single objection you will ever get falls into one of these two categories. There are only 2 reasons someone will not do business with you:
- They feel threatened
- They don’t see the value.
Actionable item 4: I am a creative, solution oriented, problem solving machine (affirmation for sales). Jesse used to write this out as much as 100 times/ day!
Actionable item 5: Successful people take notes and then put them into play.
Your goal is to truly listen to your client and come up with solutions to their problem. If you push your agenda instead, they will feel threatened, even if you do it in a very subtle way.
And if I can’t illustrate enough value on your end to charge whatever commission you want to charge, you might be better off selling with someone for 1$.
Actionable item 6: Internalize scripts. Remember that once you learn the script, you must get out of the script as soon as you can; It’s like jazz!
*Text the word ‘Buyer’ to the 858-780-5550 to get the script!* (actionable item!)
A lot of agents make the mistake to talk for hours about their potential clients’ kids and waste so much time that way!
*Text the word ‘Buyer’ to the 858-780-5550 to get the script!*
Many teammagents now find it easier to text and email instead of calling; How does Jesse feel about that? Well, do I want easy? Or do I want money?/ Want to help people?
Pick up the phone! Call them first (double dial) when a lead first comes in as you don’t know their preference yet. Then send a text; Whatever your intro of the script is, that is the same text you sent. And then send a video text! (actionable item)
Last words Jesse would like our audience to remember? Accountability.
None of what we talked about so far matters; if you are a team leader, figure out a way to hold your team accountable. If you are a team agent, find a way to be accountable. If you want to make money and help people, you need to be held accountable. (actionable item!)
Livelovesantiegoaccountability: link to access the accountability form Jesse discusses!
David is a Marine Corps combat veteran, father of two, and successful real estate team lead of 27 agents! He has his own amazing podcast, ‘It’s About More Than Real Estate: With David Serpa’, that you can find at: http://apple.co/2xhrsxW; Make sure to follow and listen to it!
His jump start into real estate:
He got into real estate a few months after he got out of the Marine Corps and in his second month, he opened 7 escrows and made $35,000. He now leads a successful real estate team of 27 agents! 100% of which, that have been here for over 18 months, make over $100,000 a year, which most agents can’t do.
How did he do that? His Marine background helped him take initiative.
Who works for David’s team and what is he looking for in his teammates? Typically, they hire about once a year and they are very protective over their team. His team has been so successful that they are now coaching new team members, until they each have 4 members in their own team.
How do you build a team? The only time to really start and/or expand a team is when you have more business than you can handle. Most people start their team way too early. Realistically, David believes he started his too early, but, at the moment, it had just felt like the right people at the right place, at the right time. When David decides to expand, he makes bold moves. Refers his team to even the biggest money opportunities that get to him, rejects the ‘scarcity’ mindset and invests, to get back.
What does the interview process look like for the new recruits? It’s been different for each evolutionary process. At the beginning, David will interview people who he thinks will be a good fit for the team. He will also ask for a cover letter, to disqualify the people who are lazy to even do this.
And how do you even find people to hire? David made group interviews that he let his agents lead and interview, after he introduced the team to them.
Who is he looking to hire? He is looking for people who fit his culture and for good people who could qualify to be great agents, even if they are not necessarily very experienced already in real estate. David is looking for each candidate’s ‘dark corners’, what could qualify them to be or not to be great agents and how this could benefit or hurt them in their real estate career.
His team is currently building an internet web, a series of evergreen content that will always be out there and attract different kinds of people to his business; once this content is out there, it will be there forever, through blogs, podcast, and video.
How is his management structure of 27 people? David honors people’s desires; if they don’t want to coach, they don’t have to! However the schedule he likes to encourage is for everyone to start their day with him, the new agents then login a call with their team lead and they get a one 30 min session of coaching per month. It’s about delegation; the more you can delegate, the more you can focus on the things you can do well. This is a 100% performance-based and meritocracy system that David encourages.
Can anyone be on a team? Think about who you are. If you are looking for a family, a structure of support that will help you and you will help them, then you should look for a team and a good one.
What’s the average time someone stays on David’s team? David can’t think of anyone who’s stayed with them for more than a few months and left.
Is there a system in place that David implements for leads? This is a question for Rob, he is the one who generates the leads for the team.
What about open houses. Open houses are huge for David’s team. He loves them. The only reason that one will not close a lead in the open house is because they don’t know how to close the lead. Open houses don’twork because agents don’t work, there is nothing wrong with the open houses! Not to mention, you get an education through open houses.
Do you believe that marketing is really important to drive the lead to the team? Absolutely! If you are great in creating content, or ads, or videos, then do it! Just do something. Perfectionism leads to procrastination, which leads to paralysis, so, no matter what, do something!
What are your thoughts on expansion team? David is not that big on expansion team. He would rather focus on his own market then expanding and getting a lesser market share with average agents that he doesn’t even get to see all over the country. David would rather focus on creating content around fantastic agents in a larger broker setting. Quality is so much more important than quantity.
What about listings and premarketing? If somebody calls Davids and wants to list their house, they will work with one of his fantastic listing agents. David has created a bunch of celebrities around him, so it’s less about David and more about his team. David avoids extra work and creating systems that don’t need to exist. He has personally built his listing presentation on prezi with videos of him and all of their marketing flyers. They spent way too much time with the client to build relationships.
What about buyers agents and their ability to sell property? If they are buyers agents, they will bring that lead back to the team and the listing agents will take over.
Who picks the listing agent? Zach is our primary listing agent because of his personality profile and the way he represents me.
Does everybody have a different deal? They typically put everyone in the same deal and everyone has to earn it. Once they make a six figure within 12 months, then everything changes. David is able to attract a lot of talent and is certain that his success is due to his team.
How many people would David like to have on his team by, say, January? He would like to keep that number at 27. He is never worried about adding. A lot of people contact him to join his team, they are kind of the cool kids, and they will be added, when the time feels right.
Number one advice for somebody wanting to start a team? Understand who you are, what your design is, the things that you do and other people don’t so easily. If you need to be surrounded by people, then do so!
A few other things we need to embrace as real estate agents:
- Which other social media platform should we be using? Instagram, Snapchat, Twitter, Pinterest!? Deanna is not particularly a fan of Snapchat but if you do love it, they have just opened up new advertising abilities and there is a bunch of different tutorials circulating online, opening up new opportunities that we can now better afford.
Instagram is finally finding a place into Mike’s heart with their feature Instagram Stories. How should we, real estate agents, utilize Instagram?
If you are already doing native advertising on Facebook, make sure to link your account to Instagram to add tons of extra eyes on your ads! It is also a no brainer for real estate agents to make your Instagram account business and personal.
You can now already upload pictures you’ve already taken to an Instagram story, so you will never run out of ideas to post and you will look like a fun person to follow!
So if you really want to make an impactful story, just take 20 minutes to curate something creative from the photos you already have!
Another thing that is changing with Instagram is a new, easier way to promote content on Instagram, adding really cool ways to target people and look at statistics. So we want to encourage local businesses to make at least one story a day because they are becoming such an important part of advertising! And if you are going to be promoting through Instagram, you want to at least keep your feed updated and so post at least once per week to keep yourself ‘rolling’ on people’s feeds.
So make sure to connect your Facebook, Instagram and Twitter account. The great thing with Twitter is that you can real an entirely new audience with your advertising; there are people who get on Twitter because of how accessible and mobile friendly it is. Twitter is also trying to compete with Facebook, create all kinds of new advertising features. For example, they have made it easier to get followers, fast, with very easy and sharp ads, by improving for example targeting or potentially increasing the number of maximum characters per post, and opening up their API to a lot of different places and you can even actually now go live on Twitter!
As for Pinterest, it’s embracing video and making it easier in general for us! So if you love Pinterest, take advantage of this new feature. So pins with video or pins that lead to video get about 40% more interaction. They have also started improving their advertising. So you can now upload your amazing videos and create an ad around it and then turn around and look at the statistics from your videos! Pinterest also allows you to now automatically share your pins with Twitter.
- If you are using a service that is ‘automatically generating content’ for you, you may not always be able to pick the images they will use, but try to get them into doing something that is a little more personal for you, or just take the time to do it yourself! For example, by using Adobe Spark Post or just Buffer.com
- Another app that is great for video is Denoise, which allows you to cut off the background noise from your video. Typomatic is also another great app to add text to your videos and Quick by GoPro is great time lapses!