Adapting To Market Changes, Building A Real Estate Team, Setting A Marketing Budget, And Creating Systems That Support Growth: Neil Answers Your Real Estate Questions At The Juice Bar! - Episode #140

The Juice Bar is open! In today’s episode, I’ll answer your questions about how to adapt to market changes, how to build a real estate team, setting a marketing budget for new agents, and creating systems and processes that support growth. Join me for this Q & A and then join us over on the Facebook group to interact!

Adapting to market downturn

Bob: I am afraid there will be a market downturn before I get established, what should I do? The truth is, regardless of what the market is doing, there is always an opportunity. It’s not what the market is doing that will determine your success, it’s about how fast you shift, how willing you are to survive. In 2005, I had no idea what a short-sale was...things were rocking and I was feeling good. In 2008, I learned very quickly what a short-sale was because I needed to in order to survive. You have to adjust and shift, stay in front of clients, stay educated, and continue to grow.

How do you educate people on lying realtors who say the market hasn’t shifted and they say they are beyond crazy busy

Rachelle: How do you educate people on lying realtors who say the market hasn’t shifted and they say they are super busy? There may be some realtors who are clueless to any adjustment that is happening and are just programmed to say they are busy. In their case, maybe they don’t know what they don’t know. Remember that we are in the relationship business. People hire us because they trust us, not because of market stats or price listings.

As a new agent, how do I set a budget?

Robert: As a new agent, how do I set a budget? It is easy to think that you need all the bells and whistles up front in order to be successful. A sweet website, Facebook ads, the works...In reality, there are ways to build your business that are very low cost. Creating a newsletter is one way I focused on relationships when I was starting out. I even got the newsletter sponsored, so the cost was minimal. I also used open houses to build relationships at little to no cost. Remember too, a clear plan will help you eliminate spending a lot of time and energy on short-term strategies. Once you are established, supporting your family and taking care of regular expenses, then you can add a great website and marketing dollars to your budget.

How to I build a real estate team?

Karin: How do I build a real estate team? Here is a quick tip when building your real estate team: Hire up! Trust that there are people who will do things better than you can, but don’t let that stop you from hiring them, They will be valuable assets to your team! It can be a struggle to delegate and teach others every step of your process, but the value of recreating yourself is priceless. You should also consider contracting out pieces of your operation. This will save you time and money and allow you to focus on growth.

I have a hard time getting organized, what systems can I use that support growth?

Michelle: I have a hard time getting organized, what systems can I use that support growth? Michelle, great question! Sometimes it’s hard to know where to start when you are trying to create a system. I was the same way. In 2013, I was running solo...no buyers agent, no assistant. That was also the year that I sold around 100 houses, so I HAD TO figure out a system that would save me time and keep me organized. I started with an email template that I would send to buyers. They would fill out all the details, then I would just copy/paste that into an offer. It looked professional and saved me hours! Since then, I have created systems for nearly every part of my business.

Outline of this great episode [0:30] The juice bar is open! [1:15] I am afraid there will be a market downturn before I get established, what should I do? [6:15] How do you educate people on lying realtors who say the market hasn’t shifted and they say they are super busy? [8:30] As a new agent, how do I set a budget? [12:15] How do I build a real estate team? [17:00] I have a hard time getting organized, what systems can I use that support growth? [26:15] What books can I read to help with negotiation?

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