Success as a Real Estate Agent For Dummies (For Dummies (Business & Personal Finance))

Title Page
Copyright Page
Table of Contents
Introduction
	About This Book
	Foolish Assumptions
	Icons Used in This Book
	Beyond the Book
	Where to Go from Here
Part 1 Showing Up for Your Own Success Story
	Chapter 1 Cultivating Skills and Strategies for Success
		Having Goal Objectives and Sales and Income Targets
		Acting Like a Top Producer from Day One
			Serving your professional representation
			Making the right financial decisions
		Securing Customers and Clients
			Generating leads: The most important factor
			Developing sales ability to win customers
			A real estate market won’t dictate your success
		Understanding the Reasoning for Being a Strong Listing Agent
		Choosing Your Avenue to Success
	Chapter 2 Selecting the Right Company
		Real Estate Office of the Future
		Weighing All Your Options
			What makes a great office?
			Bending or breaking the rules
			The rules of the house
			A penny for you, a penny for me: Commission split arrangements
			Brokerage fees: Don’t bite the hand that feeds you
			What really matters? Looking at size, online presence, training, and market share
			Prioritizing your needs and expectations in a company
				Knowing your values
				Establishing your expectations
		Creating Your Agency Short List
			Completing your homework
			Asking key questions
			Evaluating your research
			And the winner is?
		Getting Off to a Fast Start
			Building a relationship with your manager
			Understanding your manager’s role in your success
			Earning respect from your manager
			Forming partnerships inside your company
				Earning respect from your peers
				Working with agents in your office
				Cooperating with agents in your marketplace
				Developing strategic partnerships
		Considering Pros and Cons of Joining a Team
			What are the advantages for a new agent?
				Leads and opportunities provided
				Good teams have systems and support
				Transaction management and support
				Training, education, and accountability
				Some teams provide a base salary or draw against future commissions
			What are the disadvantages?
				Let’s get it on the table . . . your split will be lower
				Get your ego out of the way
				It’s not what you gross it’s what you net
	Chapter 3 Mastering Any Marketplace
		A Seller’s Marketplace Seems Easy
			The coming soon listing strategy
			The attraction of new competition
			Sellers don’t think they need you
			Demonstrating your value to sellers
			Reducing the effect of flat-fee or low-fee brokers
		Buyer’s Market? No Problem
			Do you even want sellers?
			Where to find leads when they’re scarce
			Convincing sellers — why sell now?
			Building urgency in buyers to act
		Shift Happens
			Recognizing early stages of a market shift
			Shift recognized — now what?
			Focus on motivation
	Chapter 4 Positioning Yourself as a Marketplace Expert
		Overcoming the Bias against Rookies
			Taking advantage of other people’s experience
			Using previous experiences to enhance your credibility
			Leveling the playing field with market knowledge
		Crafting a Market Trends Report
			Using what your MLS or Board of Realtors already produces
			Repackaging so it’s unique to you
		Understanding Clients’ Emotion-Based Decision Making
			Fear of missing out: FOMO
			Fear of making a mistake: FOMM
		Expanding Your Market Knowledge with Key Sources
			Your local multiple listing service
			The National Association of Realtors
			The best of the rest resources
			The Wall Street Journal
Part 2 Creating Leads in Our Online World
	Chapter 5 Using Facebook and Instagram: Online Lead Juggernauts
		Balancing Traditional and Social Media Strategies
		Personal or Business? Using Social Media Accounts Effectively
			Using your personal page to create business
				Walk the fine line with business on your personal page
				Watch for life changes
			Getting people to share your posts
				Post for pleasure (and business)
			Creating your business page
				Figure out what to post on your business page
				Practice consistency
				Find the right mix
		Using Facebook and Instagram Marketing Strategies
			Using reels effectively: What content works on reels?
			Targeting buyers
				The value strategy for buyers
				Using your company listings to create leads
				Using best buy lists to capture buyers
			Targeting sellers
				Delivering value to draw sellers in
				Getting seller prospects to raise their hand
				Creating “What is my home worth” campaigns
			Using the secret weapon of Facebook Lists
				Creating your list categories
				Putting lists to use
	Chapter 6 Uncovering Leads with Online Search
		The ABCs of Online Leads
			Distinguishing two types of leads
			Dealing with the prospect brush-off
			Converting the forced-registration lead
			Converting the direct-inquiry lead
		DIY Mentality and Misconceptions
			Selling your value to the online shopper
		No Substitute for Speed to Lead
			Designing your lead follow-up strategy
			Using text to connect with a prospect
			Video email: The secret sauce
			Persistence pays off
		The Psychology of an IDX Lead
			Be first in line
			Don’t set it and forget it
			Show and tell
			Ask them to engage
		Making the Most of Your IDX System
			Using a squeeze page
			Combining your property search system with other strategies
				Working with pay-per-click campaigns
				Using enhanced lead-generation systems
	Chapter 7 Building a Larger Online Presence
		Building a Quality Website for Long-Term Success
			Knowing your website’s purpose
			Creating leads through your site
			Delivering value online
		Understanding Real Estate Blogging
			Creating the look and feel of a professional blog
			Setting up your writing and posting schedule
			Positioning yourself as the marketplace expert
		Integrating a Customer Relationship Management (CRM) Solution
			Using a CRM as your electronic brain
			Property search system + CRM = money
	Chapter 8 Creating Leads with Third-Party Websites
		The Elephant in the Room: Third-Party Real Estate Sites
			The love-hate relationship with Zillow and Realtor.com
			Results can vary by marketplace
		Zillow, the White Whale of Real Estate
			Paying to play on listings
			Using premier agent status even when a new agent
			Fitting the review piece into the puzzle
			Checking your production
		Realtor.com: It’s Not Ours Anymore
			Lead-generation options with Realtor.com
			Avoiding some pitfalls
		The Best of the Rest: Homelight, OJO, Redfin, Veterans United
Part 3 Creating Leads through Timeless Channels
	Chapter 9 Prospecting for Gold: Generating Listings and Sales
		Knowing Why Prospecting Still Works
			Video email
			Handwritten notes
			Phone and face-to-face communication
		Tailoring Prospecting for the Type of Client
			Prospecting for seller leads
			Prospecting for buyer leads
		Understanding the Four Pillars of Prospecting
		Building Momentum in Your Prospecting
			Targeting the right prospects
			Setting and achieving prospecting goals
			Using technology to your advantage
				Data service technology
				Auto dialers
			Shattering the myths
				Try this magic pill . . .
				Here’s an approach that’s too good to be true . . .
				Top producers don’t prospect . . .
				My clients and friends don’t want to be bothered . . .
		Knowing the Numbers and Ratios
			The law of accumulation
			The power of consistency
			The never-ending prospecting cycle
			The importance of tracking results
			The challenge of managing contacts
		Staying in Touch
	Chapter 10 Generating Referrals, Recommendations, and Introductions
		Knowing the Referral Truths and Consequences
		Building Your Referral Base
			Finding sources of referrals
				Current clients
				Past clients
				Networking contacts
				Business and social contacts
			Constructing a referral database
			Following the three golden rules
				1. Be referable
				2. Mine your contacts
				3. Leverage your relationships
		Creating a Referral Strategy
			Defining the type of referrals you seek
			Approaching your referral sources without begging
			Asking the right questions at the right time
			Honoring the referrals you receive
		Developing and Expanding Referral Relationships
			Making first-time contact
				Know the two objectives of your first call or visit
				Use the name of your referral source to open doors
			Converting referrals into clients and referral sources
				Personal visits and calls
				Written notes, email messages, and mailers
	Chapter 11 Working Expired and FSBO Success in Any Marketplace
		Three Reasons to Work Expired and FSBO Listings
		The ABCs of Expired Listings
			Expireds are high-probability prospects
			Engaging conversations
			Qualifying expired listings
			Calling the seller: What to say
			Sales skills
			Sample scripts
			Using technology to leverage your expired efforts
		Opportunities in the For-Sale-by- Owner’s World
			Understanding why to pursue FSBO listings
			Using technology to find FSBO listings and opportunities
			Converting FSBO opportunities to listings
			Organizing your plan of attack
			Targeting your prospects
			Making the initial contact
			Putting the mail carrier to work
			Dialing for dollars
			Overcoming rejection and staying resilient
			Coming face to face
			Building relationships
			Using stats to make the case
	Chapter 12 Hosting Open Houses: New Agents’ Bread and Butter
		Leveraging Open Houses for Leads
			A chance to meet potential clients face to face
			A means of catering to the do-it-yourselfer’s home-buying needs
			A high-touch opportunity in a high-tech world
		Setting Your Prospecting Objectives
		Planning for Maximum Exposure
			Featuring a high-demand home
			Looking good: Leveraging the power of curb appeal
			Marketing to the neighbors
			Guiding prospects to the open house
		Going Big with a Mega Open House
			Creating a neighborhood event
			Facebook-targeted marketing
			Wayfinding: Driving people to the open house
				Use lots of signage
				Choose different signs for diverse buyers
			Banners, flags, and blowups, oh my!
		Being the Host with the Most: Effectively Managing the Open House
			Setting up for success before prospects arrive
			Discussing other available properties
			Setting the mood with last-minute touches
			Meeting and greeting during the open house
			Winning follow-up systems and strategies
Part 4 Winning the Business and Getting Paid
	Chapter 13 Making Your Listing Presentation a Masterpiece
		Qualifying Your Listing Prospects
			Using questions effectively before your listing presentation
			Knowing why and how to question listing prospects
			Deciding on a one-step or two-step listing presentation
				One-step presentations
				Two-step presentations
			Checking your prospect’s “DNA”
				D for Desire
				N for Need
				A for Ability and Authority
		Presenting to Qualified Prospects
			Knowing the purpose of your presentation
			Delivering a compelling presentation
				Getting off to a good start
				Setting yourself apart from the real estate agent pack
				Gaining confirmation
				Presenting prices
				Going for the close
			Making your presentation useful, interesting, and engaging
			Keeping your presentation focused and targeted
			The four components of a great presentation
				Conviction
				Enthusiasm
				Confidence
			Staying in control
				Setting the agenda early on
				Keeping on track
		Dealing with Sales Objections
			Delaying or deferring objections
			Handling objections in four easy steps
				Pausing
				Acknowledging concerns
				Isolating concerns
				Responding with confidence
		Asking for the Business
		Bringing the Presentation to a Natural Conclusion
	Chapter 14 Converting Buyers and Selling Your Value
		Making a Case against DIY
		Selling Your Value as a Buyer’s Agent
			Communicating factors a buyer’s agent can influence
			Offering process knowledge and counsel
			Market knowledge
			Guiding them through selecting homes
		Selling Your Services as Exclusive
			You don’t work with everyone
			You don’t work on commission
				Working on a contingency fee basis
				I’m just like you
		Getting a Buyer to Make a Reasonable Offer
			Educating your buyer on what is fair market value
			Gaining acceptance of rule #1: Don’t offend the seller
		Packaging the Buyer as the Best Buyer
			Stressing the importance of the lending process
			Writing your “golden buyer” story
	Chapter 15 Getting the House Ready for Showing
		Getting the Home Ready for Pictures and Virtual Tours First
			The essential image online
			Unlocking secrets to perfect property pics
				The laws of lighting
				The right angles
				Creative photo enhancement
		Counseling Clients on Home Improvements
			Improvements that contribute to the sale price
				Bringing a home back to standard
				Correcting defects
				Enhancing first impressions
			Improvements to skip
		Passing the Curb Appeal Test
			Curb appeal is more important than ever
			Landscaping your way to success
			Exterior paint condition and color
		Prepping the Interior of the Home
			Staging a home
				Clearing the clutter
				Knowing what to keep and what to remove
				Simplifying traffic flow
				Toning it down
			Making a clean-up checklist
		Making a Great First Impression: Final Ways
			Enhancing the first glance
			Helping the buyer “move in”
	Chapter 16 Marketing Yourself and Your Properties
		Shifting from Print to Online
			Setting up a monitoring system
			Focusing your marketing dollars online
		Choosing Internet Strategies That Work
			Company websites
			Lead-generation websites
		The Art of Persuasion: Getting Prospects to Buy into You
			Selling properties with photos and videos
				Capturing the best images
				Choosing the best shots
				Creating and organizing photo files
			Get the customer to interact
				Search engine optimization
				Pay-per-click, not pay-per-prospect
		Using Text-Back Technology for Marketing
		Targeting Your Marketing Message
			Defining your target audience
			Positioning your offering
			Positioning the property you’re selling
			Positioning yourself
		Creating and Placing High-Impact Ads
			Emphasizing benefits versus features
			Staying legal
			Choosing the right media outlets
			Converting ad interest to action
		Enhancing Exposure via Virtual Tours
			Producing a virtual tour
			Asking the important questions
			Leading prospects to your virtual tour
	Chapter 17 Negotiating the Contract and Closing the Deal
		Preparing for the Task Ahead
			The right tone
			Keys to representing a seller
				Be prepared
				Protect the sellers at all times
			Keys to representing a buyer
			Advice for partnering with the other agent
		Advancing or Accepting an Offer
			Presenting a buyer’s low offer
			Receiving a buyer’s low offer
			Taking the insult out of an insulting offer
			Getting beyond emotion
			Turning concessions into victories
			Dealing with I-win-you-lose clients
		Closing the Deal
			Forming a closing team and working with the players
				The loan officer
				The home inspector
				The appraiser
				The escrow closer
			Avoiding derailment
Part 5 Creating Ongoing Success in Real Estate Sales
	Chapter 18 Keeping Clients for Life
		Achieving Relationship Excellence
			Building client confidence
			Defining your service standards
			Promising, then flawlessly delivering
			Viewing the closing as a starting point
		Creating After-the-Sale Service
			Laying the groundwork during the transaction period
			Setting a service agenda for the first 30 to 45 days after the sale
			Establishing an ongoing communication strategy
				Using direct mail
				Staying in touch via email
				Picking up the phone
				Showing appreciation
				Setting them up on an ongoing home valuation tool
				Writing the thank-you note
				Exceeding expectations
			Customizing your messages
				Understanding the difference between unique and one-size-fits-all communications
				Dealing with one-time or transactional clients
				Dealing with long-term or relationship clients
		Establishing Awesome Service
			Developing a service plan
			Extending extra touches that create gold
	Chapter 19 Maximizing Your Time
		Spending Less Time to Accomplish More
		Applying Pareto’s Principle: The 80:20 Rule
			Making time for the things that impact your success
			Weighting your time to what matters
			Keeping PSA time in check
			Asking for referrals to turn PSA into DIPA
		Managing Your Day
			Knowing the power of the 11 a.m. rule
			Tracking your time
			Dealing with time-consuming fires
		Time Blocking Your Way to Success
			Winning the premium time game
			Setting your schedule in time blocks
			Avoiding time-blocking mistakes
		Carpe Diem: Seizing Your Day
			Stop wasting time
			Stop letting others waste your time
			Manage interruptions
			Handle intrusive clients
			Keep phone calls short
			Use your car to gain efficiency and career advancement
	Chapter 20 Owning It Is Better Than Selling It
		Defining Financial Independence
		Appreciating the Value of Real Estate Investment
			Income is cash flow
			Taxable depreciation
			Equity through mortgage paydown
			Appreciation of the asset
			Leverage of the asset
		Developing Your Investment Strategy
			Understanding the value of your time
			Determining your savings goal
			Evaluating your risk tolerance
			Blending your strategy
				House flipping
				The growth strategy
				The maintenance strategy
		Comparing Different Types of Investment Properties
			Single-family rentals
			Duplex to four-plex
			Apartments
			Commercial real estate, office, retail, and industrial
		Doing the Math
			Going for the singles and doubles
			Reviewing properties the simple and quick way
			Digging deeper
	Chapter 21 Selling New Construction
		Understanding the Opportunities in New Construction
		Explaining New Construction Advantages to Buyers
			Building equity and savings
			Creating a priceless experience
		Presenting New Construction to Buyers
			How to compare the math between resale and new construction
			How to align their needs with the benefits of new construction
			How valuable are neighborhood amenities?
		Helping Buyers Understand the Importance of Representation
			The one-sided nature of builder contracts
			The value of client representation
			Loyalty between the onsite agent and the builder
		Protecting Your Commission in Selling a New Home
			Discussing new construction options early in the buyer’s process
			Securing a buyer’s agency contract
			Registering the client with the builder
		Picking Up Resales in New Neighborhoods
Part 6 The Part of Tens
	Chapter 22 Ten Must-Haves for a Successful Agent
		Good Contact Management System
		Online Lead-Generation Software
		Enhanced CMA Software
		Video Production and Video Email Software
		Tablet Computer
		DocuSign or Dotloop Software
		Facebook Business Page
		Personal Website
		A Good Set of Phone Ear Buds
		Sales Scripts
	Chapter 23 Ten Tips for Listing Presentations
		Winning the Seller with Preparation
		Knowing Your Competition
		Sticking with Your Strategy
		Forgetting about a “Be Back” Listing
		Using Technology to Impress a Prospect
		Conveying Your Benefits Clearly
		Inserting Trial Closes Strategically
		Talking about Value Rather than Price
		Being Willing to Walk Away
		Clarifying Service and Next Steps
Index
EULA