5 Biggest Problems Of Real Estate Agents

This business, it's like rolling a boulder uphill for most agents. Once in a while, we get someone who knocks it out of the park almost immediately, but most agents don't make it to the top and others don't even get started. So today I'm gonna give you the five biggest problems you face as an agent, and I know this is gonna totally sound cliche, how to overcome them. More importantly, I'm gonna give you two plain insight methods. Let's just call them secrets, if you will. Except, you know what? Basically, they're right in front of you. They're gonna take away the biggest problem you have, all agents have. Some of you who actually listen to this video and take action, you know what? You're gonna crush it in the next year. So, I might be your dad's age, but I'm over 4,000 home sales and I've made more money in commissions in the past couple of years than the previous 20. So let's get to it. Recognizing the biggest challenges and how to overcome them is gonna be instrumental in agents blowing up their business, basically in any economy. And I'm pumped to be able to tell you how you're gonna fix them, and actually most of them in one foul swoop. So stay on, listen up, baby, because everything is gonna change for you after this. Here are the biggest problems, basically in random order. Lead generation, sales abilities, costs associated with being a realtor, marketing and branding, competition, and you know what? I'm gonna give you a bonus, time. So here's number one. So I started with this one. It just made more sense to jump right into it. So general costs associated with being an agent. Everyone has their hand in your pocket. There's licensing fees, education fees, board fees. In our case, we have real estate council fees, provincial or state fees. Then it's business cards, websites, CRM, maybe additional insurance. There's desk fees or an office cost, broker fees, whatever that may look like. Either it's like a percentage of your commission or a dollar amount per deal. Then you got signage, the cost of creating them. You gotta hire a company to put them up and down. Then you got flip signs for open houses, new listing signs coming soon. So on top of that, there's virtually no mentorship. So you need coaching, which can be insanely expensive, $1,500 to $2,000 a month for something like Tom Ferry coaching or Craig Proctor coaching. I haven't even talked about Google or Facebook leads yet. It's extremely popular but can run at $5 per lead if you're lucky and push as high as $50 per lead, depending on the time of year and your market. Plus, there's also the cost of having someone manage it. It adds up fast. Do you wanna be able to reduce this to a bare minimum and still grow your business? I'm gonna tell you exactly how to do that. But first, let's go to our number two. So number two is lead generation. Outside of cost, this is the big one. No leads, you are dead and you're out of business. Do you wanna know how to get leads to come to you at virtually no cost? And not only do they wanna work with you, but they're pretty much begging to work with you. Well, we're gonna get to that. So what do you think right now the most popular way to get leads fast is? If you said online lead generation, you're right. And I'll tell you why, because agents don't wanna have to go out and find leads. I don't blame you. They feel like it's the easiest way to do it. Wanna know what the worst strategy is? Doing online lead generation. And I'm telling you, everybody thinks this is the cat's ass and it sucks. Here's why I think it's the worst. It's expensive. Most agents don't ever work it properly. And again, I can't blame you. And even if they did, the closing ratio is only 2% to 3%. You have to call an online lead an average of eight times before the answer. So it's 800 calls for two deals. It's a really crappy strategy. Don't get me wrong. There's certain situations where it can be a really good strategy. And an example would be leads for a particular niche, like in our case, advertising to drive traffic for a builder project, like condos, new homes, you know, in certain communities. So again, wanna know how to have leads come to you? They already like you and they can't believe they get to work with you. And your closing ratio could be up to 20% or even more. Yeah, so do I. So if you find that strategy, let me know. No, I'm totally kidding. I have that strategy and actually two of my partners developed it and the agents that implemented it are absolutely crushing it and making hundreds of thousands in commissions in their first and second year as licensed agent, not to mention agents that have been in the biz for a few years. So I'm not kidding. This is no BS. So stay on and I'm gonna talk about this more. So number three, marketing and branding. 82% of agents come into this business with no marketing experience and no sales experience. That's what the real estate business is all about. It's all about marketing and branding. I see it all the time. Someone's licensed, you look them up. They're absolutely nowhere to be found. It's like they went into a witness protection program. So money and time are big issues here. Most agents try something for two months and then they give it up. They try basically everything and master, well, nothing. So you need to get exposure and branding and lots of it, but it takes time. So social media, it's gonna be massively, massively important in this day and age. Business cards, logos, websites, buyers, sellers, guides, folders, just to name a few things. And again, the plan is you've gotta get exposure as much as possible. You can't do all of it all at once. I can help you fix all of this in four words. Nah, I'm not gonna give it to you yet. I'm gonna give it to you in a minute. Number four, sales abilities and mentoring. Again, agents are coming into this a massive percentage with no sales background or experience, and that's what the business is all about. If you can't talk to people, again, you're dead in the water. Now, I know some agents are like, well, I'm not in a sales business. I connect people with a wonderful living environment, or I've heard I'm a passionate home connoisseur. So you know what? Be whatever you want, be whatever you like. You're still in the sales business, and part of that is learning to speak with people, deal with objections, and connect with personalities that are other than your own. Ongoing sales coaching, it's gonna push you to the highest levels, and it's gonna save you a ton of time. Number five, competition. This is never gonna go away. There's always gonna be competition to varying degrees. It's gonna depend on things like economic factors. It's gonna depend on your market. This is crushing for most agents. Losing deals that they've worked on for a long time or not being able to convert their leads. This is a really big one, but it's easily fixed. Scripts, objection handling, having a pipeline so full of leads, it's gonna be huge. But even bigger is your value proposition. I'm gonna tell you how to do this and never lose another listing except the ones that you don't want. I have two words for you. Forget it, I'm gonna tell you in a minute. Okay, I know I said there was five, but actually I'm gonna give you a little bonus problem. Time, there's never enough time in the day to get everything done. It's paralyzing. I know, especially when you have to be the marketing department, the lead generator, the sales guru, taxi driver, and know everything about every community, every house listed. Here's my question for you. Do you wanna know how to generate leads for nothing? Fairly quickly, it gets started pretty quick, save a ton of time, have them generating constantly no matter what the market looks like, no matter what time of day. I bet you think I'm gonna say, hey, I've got all this in a package. You can get this and this and this, and it's only gonna be one low fee of $24,000 or something like that. Not my style, I'm not gonna do that. But I am gonna tell you a lead generating secret, actually two, and it's right in front of you, and it costs you nothing, or almost nothing. You ready? YouTube and TikTok. I have several business partners that are working these platforms, but they're working them properly and blowing the other agents out of the water in like a 10th of the time. YouTube first. I have two guys in my organization that started their YouTube channel, not kidding you, two years ago. In their first six months, they made almost nothing in commissions, and in the latter part of their first year, they knocked it out of the park, and I'm not kidding you, they made over a million in commissions. Not from YouTube paying them, it's commissions. Yes, it's from like people contacting and saying, hey, I'm ready to purchase, or could you please come and list my house? They're free leads saying, sell me please. More on this in a second. Now let's talk about TikTok. I have an agent in our group that coincidentally also started his TikTok account two years ago. He now has over 90,000 viewers and has made over 700,000 in commissions from people contacting him from TikTok. He doesn't have a lead generation system that he spends thousands of dollars on. He spends nothing. He has an iPhone, he's got some other minor equipment, but that's it. What are they doing that other people aren't? Well, they just took the time to figure it out properly. They are those guys that dig deep and they learned all the tricks, all the nuances to it. There is a knack to this. How does this help you? Well, they put together with my business partners help courses on exactly how to do this and what to do. And I'm serious when I say anybody can do this. And there's a complete course on how to do it. So what's it cost? Well, you can buy the course or you can get it for free. And I'm gonna tell you how. So the courses cost between three and I think it's about 3000 for TikTok and 5,000 for the YouTube course. However, you can get them for nothing. Either way, I'm good with it. I actually don't make anything from them. I'm super happy to promote them because they're great people and I know it works. If it worked for them, it'll work for you. We have a gal that took the course for YouTube in December, started her channel in January. She's got over 5,000 subscribers at the time of this video and she's getting leads contacting her every day. I saw it for myself. I was with her and her husband for dinner. She got a call from somebody. She said, I saw you on YouTube. We sold our house. You look like you're the area expert. We wanna, we're approved for 2 million and we're looking for a house. Can you help us? So if you want either of these courses for free or you would like to buy one of them or both of them, you can contact me by clicking on the link in the description for my calendar and we'll set up a strategy call and I'll lay it all out for you. It's as easy as that. If you appreciate this video and I certainly appreciate you watching, please like it and subscribe for more content on helping agents how to blow up their business. Thanks again for watching and see you in the next one.