The juice bar is open, which means it’s time for all of your real estate questions! Today I want to address how you stay in the flow with your buyers and sellers, how you can reverse engineer information to help you better serve your customers, and how to avoid the shiny object syndrome, as it relates to open houses! If you find the juice bar helpful, there are several previous episodes you can go back to and ear-guzzle!
As a real estate agent, your goal is not to be in the flow with people, but in the flow with buyers and sellers. The best way to do this is to get really good at finding their search criteria. If you are in an open house talking to buyers, ask them about THAT property, what they like, what they don’t like, what they think of the neighborhood, etc. This will give you an idea of what they are actually looking for. You can then take this information and find their perfect property, then call them to say you have information that they may be interested in. That’s how you stay in the “flow.” You can also use this technique to reverse engineer a sale, by finding sellers who have a property that may fit a buyer. Simply put, the “flow” is just a matchmaking game.
Open houses have been around as long as the realtor, and I don’t think they are going anywhere. What may be happening here is you have fallen prey to the shiny object syndrome, just because things have been slow. If you only have a few people show up to your open house, take advantage of the fact that you can go deep with each of them (a luxury you don’t have when there are 20-30 people present), and get to know their needs better. There may be a dip, but don’t get caught up in the flow pattern. If you have been at the real estate game for a while, you may have enough bandwidth to knock on doors before and after, with both information about how fast the house sold, and any leftover buyers you may have.
“Knowing your market” really just means knowing the flow of the buyers and sellers. There are ways you can get a read on the market, or “the beat,” including asking senior agents in your company how busy they are and asking lending agents how many applications they have received. This will give you an idea where the market is at, and what you need to do to prepare. In the end, it’s all about knowing where to find what the buyers are looking for. If you can do that consistently, you will be successful!
If you are looking for real estate coaching, I am looking for students! In the very near future, I will be launching Neil Mathweg Coaching (I still have Roundbox) a 6-week, boot camp style coaching program for agents. Stay tuned, you guys will hear about it first!
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