With the real estate market on fire today, now is the time to focus on new ways to generate transactions. Kyle Whissel, of eXP Realty, recently joined us as a guest on our Secrets of Top Selling Agents webinar to share five tips on how to generate new transactions from one listing.

1. Actually Sell the Listing
Whissel opened the webinar by explaining that you must be prepared to actually market and sell the listing if you want to generate new transactions. Given the current market conditions, you shouldn’t have too much trouble selling the home. However, Whissel reminds agents that you should not be complacent and instead be prepared for a return to normal conditions at some point. By doing this, you will be prepared to market and sell any other listings that come your way.

2. Double-End the Listing
If your state allows it, double-end the listing is a great way to double your commission. This means that you will represent both the seller and buyer in a single transaction. Double-ending the listing gives you the opportunity to market yourself to the buyer pool and potentially generate additional clients from the buyer leads that you generate from your listing. Not only will you build your buyer pipeline, but you will also do so without spending additional marketing dollars.

3. Help Your Clients Buy Their Next Home
Think about this: If your client is selling their current home, they are most likely going to buy a new home. If they are staying local, there is no reason why you shouldn’t be their agent. If they are moving out of the area, take the time to introduce your sellers to a buyer’s agent in the new area they are looking at. By simply having this conversation with the listing agent, you can generate a transaction with a referral fee.

4. Generate Even More Referrals
Yes, we just discussed getting a referral fee based on where your clients may be moving. However, you can also generate referrals from your current clients’ relatives, friends or coworkers. If you take the time to nurture your current clients and do good work for them, the chances of you being the recommended agent will grow and you may find yourself a few more transactions. Larry Kendall’s best-selling book, Ninja Selling, focuses on this approach as well as what questions to ask to maximize referral opportunities.

5. List a Neighbor’s Home
Finally, in between selling your current client’s home, don’t miss out on opportunities to sell a neighbor’s home in the same area. Success leaves clues, and every sale that you make during this market, should have a story about how many offers you were able to generate, how much over asking your clients got for their home, etc. People want to work with successful agents.

The possibilities of generating a few more transactions are endless with these five tips pointing you in the right direction. To watch the recording of the Secrets of Top Selling Agents webinar, please visit www.SecretsOfTopSellingAgents.com.
Joe Sesso is the Executive Director of Sales Marketing for Homes.com and an Award Winning & Best Selling Author

With the market as crazy as it is right now, people are looking for any way they can to purchase real estate for a bargain. One of the best ways to buy real estate at a discount is to invest in homes that are in pre-foreclosure status. But before you run out and try to find a foreclosure, it is critical to know how the foreclosure process works. This blog post will explain the various phases of the foreclosure process. Laws may vary by state, but most states follow a process similar to the one below.

Phase 1 – Delinquency: In this phase the homeowner is at least 60 days behind on their mortgage payment. This is where many homeowners get trapped. Paying a mortgage is not like paying rent. If you fall more than one payment behind on your mortgage, the bank will demand full payment immediately. The reason: if a bank accepts a partial payment from a homeowner it can set a precedent which could allow the bank to accept future partial payments from the homeowner. The bank does not want to take partial payments. This is why banks demand full payment of the past due amount, plus late fees. Once the bank makes the determination that they will not be receiving full payment from the homeowner, they will have their attorneys file a Notice of Default at the county courthouse. The foreclosure process has now begun.

Phase 2 – You’ve Been Served: Once the complaint is filed by the bank at the courthouse, the case is assigned to a judge (in judicial foreclosure states). The judge will then order the county sheriff or a special process server to serve the homeowners with the complaint. This is similar to any domestic case. If there are any second mortgages or lienholders on the property, they too will be served by the sheriff or the special process server. The reason: Their interest in the property could be at risk. Once everyone is served, they are required to make an appearance before the judge to hear the complaint. This is usually a week or two after being served the papers.

Phase 3 – Pre-Foreclosure: The time between being served papers and the default hearing is known as the “Pre-Foreclosure” stage. During this stage the homeowner has options to avoid being foreclosed on. They can sell their home or try to file for bankruptcy. This is the best time for investors to get involved, because they can work with the homeowner to create a win/win transaction without competition. This is a critical time for homeowners because every day that they wait to take action is one day closer to the default hearing. Depending on the state, this phase could last anywhere from two to ten months.

Phase 4 – Default: If the homeowner has not sold their home or paid back the bank by the time their foreclosure case is heard before the judge, the hearing will proceed. The judge will rule that the homeowner is in default and enter a Judgment of Foreclosure against them. The judge will also order a date for the home to be auctioned off to the highest bidder. This is called a Sheriff Sale in most states, and it can take place anywhere from a week to a month or so after the judgment of foreclosure, depending on the state.

Phase 5 – The Redemption Period: Every state has a period where a homeowner can redeem their mortgage by paying back the bank what is owed on the property. For some states, the redemption period ends at the judgment hearing. Others allow the redemption period to go all the way until the day before the Sheriff Sale auction. And some even allow for a period after the Sheriff Sale for the owner to pay the bank back. It is important for investors to know the Redemption Period laws in their state, because it can buy you a little more time to purchase the home from the owner.

Phase 6 – The Sheriff Sale: The Sheriff Sale is usually conducted at the county courthouse. It’s an auction and the highest bidder wins. The proceeds from the auction go to the bank and if any is leftover after the sale, it would go to the junior lienholders and then the homeowner. If no one bids on the property, it will go back to the bank.

The foreclosure process can last anywhere from four months to a year or longer, depending on the state and the circumstances. For investors, the key to getting the best deals is to buy directly from the owner while they are in the pre-foreclosure phase. In my next blog posts, I will discuss the various ways to purchase pre-foreclosures and foreclosures.

For more information about buying pre-foreclosures and foreclosures, please visit www.JoeSesso.com.

The real estate market is still red hot, which means most real estate agents are having a hard time generating listings.

Recently, founder and owner of West + Main Homes, Colorado, Stacie Staub, joined us for a Secrets of Top Selling Agents webinar to share three strategies to find inventory and listings now.

Why Is the Inventory So Low?

Staub shared some insights as to what caused the market to be the way it is. Aside from COVID-19, Staub shared some details:

– Lumber Prices: Lumber prices have tripled in the past year due to a shortage, which has not only driven building prices up, but many builders can’t get enough lumber to finish a job. Steel prices have more than doubled and copper is up by more than 90% year-over-year.
– Labor Shortages: Labor shortages have appeared as a result of construction workers not being able to work due to the COVID-19 pandemic.
– Permitting and Utility Offices: COVID-19 has increased permit and utility backlogs, causing delays for issuing permits and utilities such as water or electricity.

These are just a few of the reasons for why listings may be so low. Staub explained that it is very important to understand the market, because it will agents to implement the following three strategies.

1. Property Matchmaking

Here’s how this works: Agents should make a post-it note for each of their local clients. Once you have each client written on a post-it note, number each client on a scale from 1-10 on their likeliness to move into a new home this year.

After you have done this, on another post-it note, write down what they hate about their current home and what they are looking for in their new home. Once you have done this, you have an opportunity to generate a listing from a client that you have worked with in the past. After doing this, take the time to match clients up with other clients to generate some listings and potentially make a sale.

Staub suggested that there are potential buyers out there that may be renting or looking for a home to purchase, but are discouraged by the lack of inventory. This can be a great opportunity to make the perfect match between sellers and buyers.

2. Nurture Like a Ninja

You may have already participated in a Ninja coaching class or be familiar with the book Ninja Selling, by Larry Kendall, but Staub said that if you want to generate more listings, you have to nurture your clients like a ninja.

This includes having up to 12 touch points per month through means of email, mail, phone calls or whatever you can think of that will directly touch your clients to nurture them. Staub suggested that if you don’t take advantage of this mentality, you may lose the opportunity to generate listings. To learn more about the Ninja Selling techniques, go to www.NinjaSelling.com.

3. Use Big Data

Finally, Staub said that agents should take advantage of big data. There is so much data out there that can help you to generate listings. Use data to your advantage to farm in areas that you might be able to generate listings in.

Some data to think about can includes: how long a family may have lived in their home, or if they have had any major life changes. Data like this can factor into you generating listings. RPR, or the Realtor Property Resource, is a great resource to leverage the power of big data.

With strategies like these, you should be fully prepared to go out and find inventory and generate listings during a historically hot market. To learn more about Staub’s three strategies you can watch the recording of the webinar at www.SecretsWebinars.com, or you can join the Secrets of Top Selling Agents Facebook Group to join in on the conversation.
Joe Sesso is the Executive Director of Sales Marketing for Homes.com and an Award Winning & Best Selling Author

This is Part 2 of my multi-part blog series on foreclosures. In this post, I’m going to share the common terms that are used in foreclosure filings, as well as terms that are used by banks, Realtors and investors. You should reference this post as often as needed when you are beginning your quest to `buy foreclosure and pre-foreclosure properties.

Real Estate & Foreclosure Terms

Broker Price Opinion (BPO): A BPO is similar to an appraisal or a CMA (comparative market analysis), only not as detailed or robust. It is usually ordered by the lender of the house that’s in foreclosure and it’s done by a real estate broker. The lender wants to know what the house can be sold for if they foreclose and gain possession of it. BPOs are usually conducted from the outside only, because oftentimes the borrowers still live in the home.

Certificate of Sale: This is a document that is issued by the court at a judicial sale (auction), entitling the purchaser to receive a deed once the court approves the sale.

Chain of Title: This is the chronological conveyance of a property from its original owner to the present owner. You can see everyone that has owned the property since it was built.

Deed: Legal document transferring ownership of a property from one party to another

Deed in Lieu of Foreclosure: A legal document conveying ownership to the lender from the borrower. This happens when the borrower is in default and going through the foreclosure process. A borrower will do this if they have worked out an agreement with the bank to vacate the premises and hand over the keys to the home in return for the bank not going after them for any extra fees or unpaid balances after the bank sells the home.

Default: The failure of a homeowner to pay the mortgage payments to the lender as they become due. If a borrower is in default on their mortgage, the bank can start the foreclosure process.

Foreclosure: The legal process in which a lender ends the borrower’s interest in a property after a loan is in default. The lender must follow the process of law, which varies from state to state.

General Warranty Deed: The most secure of all deeds. The grantor (seller) agrees to protect the buyer against any other claim or title to the property. The covenants assure good title and freedom from encumbrances. Title companies will generally only work with these deeds.

Hard Money Loans: These are usually given by private lenders to investors at a higher than average interest rate. These are usually short-term loans and are often used by those who have a hard time obtaining a conventional loan from a bank.

Judgment of Foreclosure: A legal proceeding where the judge rules a foreclosure lawsuit in favor of the bank and sets a sheriff sale date for the property.

Lien: A legal monetary claim against a property that must be paid off when the property is sold. In some cases, the lienholder can even foreclose on the property.

Lis Pendens: A Latin phrase meaning “suit pending.” You will see this when a foreclosure is filed.

Mechanic Lien: A lien that is placed on a property by a contractor because the homeowner failed to pay them for the services provided on the property.

Mortgage: A legal document by which real estate (the home) is pledged as collateral for the repayment of a loan. A deed of trust is used instead of a mortgage in some states.

Note: A legal document that obligates the borrower to repay a mortgage loan at the stated interest rate during a specified period of time. Also called a “promissory note.”

Payoff Figure: The amount of money needed to pay off the entire balance of a loan, including principle, interest and fees.

Power of Sale: This is a provision in a mortgage agreement that grants the lender the right to sell the property upon default by the borrower.

Pre-Foreclosure: This term is used in two different by investors. One way is to describe a home that is about to go into the foreclosure process. The more popular way is to describe a home that is currently in the foreclosure process, but it hasn’t been foreclosed on by the bank yet.

Quitclaim Deed: This deed conveys the rights of a property from one person to another. It only conveys the grantor’s interest, and there is no guarantee that they even have a prior interest. This is the weakest of all deeds.

Real Estate Owned (REO): A property that was foreclosed on that didn’t sell at auction. It then goes back to the bank.

Redemption Period: The period of time during which a property owner can pay all defaulted payments and charges to bring their account current and thus “redeem” their mortgage. This period varies from state-to-state.

Reinstatement Figure: The amount of money a lender requires from a borrower to bring their mortgage current, thus “reinstating” the mortgage.

Right of Redemption: A borrower’s right to redeem a property in the foreclosure process by paying off the loan balance necessary to bring the mortgage current.

Sheriff Sale: This is where homes in Judicial States go to be sold at auction. Sheriff sales usually take place at the county courthouse or somewhere nearby. The terms are designated by the selling officer, and the property is sold to the highest bidder, sight unseen.

Short Sale: When a homeowner owes more to the bank than what the buyer is offering for the property, the homeowner is “short” the remaining balance. It is up to the bank to decide if they will accept this price. If they do, the bank will usually eat the remaining balance as a loss.

Title: A legal document that establishes ownership of a parcel of real estate.

Title Company: A company that searches property titles for any liens or encumbrances. Title companies 0issue title insurance policies to buyers and homeowners to protect them from liens that didn’t show up during the title search.

Trust Deed: A conveyance of real estate to a third party to be held for the benefit of another party. Commonly used in some states in place of mortgages.

Trustee’s Deed: A deed granted by a Trustee at a Deed of Trust foreclosure sale.

Warranty Deed: A deed that assures that the subject property is free of any legal claims, liens or encumbrances.

You will see these terms time and again during your foreclosure research and purchases. You will also see some of these terms later in this series.

Next week, we discuss the different ways to purchase foreclosures & pre-foreclosures.

In June of 1997, the Chicago Bulls defeated the Utah Jazz to claim their fifth NBA title in seven years. They had again proven to be unstoppable. And while Michael Jordan, Scottie Pippen, Dennis Rodman and Coach Phil Jackson all wanted to come back to defend their title the following season, there was one person standing in their way and holding up that opportunity. That person was Bulls General Manager Jerry Krause.

Jerry Krause had been the Bulls General Manager since the mid 1980s and had engineered a great team around star player Michael Jordan. Krause was responsible for hiring Phil Jackson, drafting Scottie Pippen and signing Dennis Rodman as a free agent, among many other moves that helped build the Bulls dynasty. Krause was a savvy but shrewd GM. He often spoke without a filter and some of the things he said made him an unpopular figure in Chicago. His infamous statement, “Organizations win championships,” created much controversy that generated public ridicule from Michael Jordan and others. In addition, Krause was also vilified for the way he treated coach Phil Jackson.

During the 1990s player and coaching salaries skyrocketed. As Phil Jackson’s value as a coach grew, his relationship with Krause soured. Whether this was because of Jackson’s rising salary or not is up for debate. But one thing cannot be debated; Krause wanted Jackson out of Chicago. He even openly courted college coach Tim Floyd as Jackson’s successor, placing even more stress on an already tense situation. The future of the Bulls hung in the balance.

But Michael Jordan was very open about his position: If Phil didn’t come back, he wasn’t coming back.
In the end, Krause conceded and signed Jackson to a one year contract. But it came with a stern message. This was to be Phil Jackson’s last year. Period. Krause told Jackson, “You could go 82-0 this season and it’s still your last year.” The Bulls didn’t go 82-0, but they did win their sixth title in eight years. As promised, Phil Jackson was replaced by Tim Floyd as the new head coach after the season.

Let’s conclude by discussing Jerry Krause’s leadership going into that 1997-98 season. There are two main points I want to address in this post; Krause’s comment, “Organizations win championships,” and his treatment of Phil Jackson.

1. Organizations win championships? While it is true that winning a championship is an organizational effort, from the players on the field to the coaching staff to the front office that makes player personnel decisions, should Jerry Krause as a leader have made that comment? The answer is no. Great leaders accept blame and deflect praise. The players were the ones that the fans had connected with. They were the ones that actually had to play the games in front of millions of people in the stands and on and TV. Krause’s comments were a no-win situation for him. The players were offended and the fans found another reason to dislike him. It only worsened his public image.

Krause did a great job of building the team, and he may have felt a little envious of the players and coaches getting all the attention. Great leaders don’t get envious. They feel pride because they know that if the team wins, they win. Krause only had one person to impress – owner Jerry Reinsdorf – and Reinsdorf was very impressed with him. Reinsdorf knew that Krause was the architectural genius of that team, and that’s all that should have mattered to Krause.

2. “This will be Phil’s last year”: If you want to put unneeded stress on your team and create a toxic environment, tell someone that they could go undefeated and they still wouldn’t be welcome back. This is leadership at its worse. There are three main reasons why a team or company would replace a successful coach or manager. They are listed below, as well as if Phil Jackson met the criteria to be let go.

a. Poor performance: This is probably the most common reason to be dismissed of one’s duties. Prior to the 1997-98 season, Phil Jackson had won five championships in his eight years as coach of the Bulls, and averaged more than 60 wins per season. He had the highest winning percentage in the NBA during this period and had won more championships than any other active coach in the NBA. Poor performance was DEFINITELY NOT a factor.

b. Creates a toxic environment: If a coach or manager creates a workplace environment that is toxic, it is grounds for termination. If the coach or manager perpetuates internal conflict which is affecting team morale or culture, it can damage the team in the long run. But Phil Jackson was extremely popular with the players. His “Zen Master” persona was the stuff of legend, and he consistently got the best from his players. Michael Jordan went so far as to say that if Jackson didn’t return to the Bulls, then he wasn’t returning either. So you can cross this reason off the list as well.

c. Exhibits Behavior on or off the Field that is Detrimental to the Team: If a coach gets arrested or says something offensive against someone or a group, it can damage the reputation of the organization. Phil Jackson didn’t do this either.

In the end, Krause got rid of Jackson because he didn’t like him. As a leader, you might not like everyone you work with, but you have to do what’s best for the team. The players clearly loved playing for Jackson, and the Bulls continued to win championships. What was best for the team in that moment was to retain Jackson. And while Krause eventually gave in and signed him to a one-year contract, the comments that he said to the public in the aftermath of the drama were completely uncalled for. Great leaders don’t take their private grievances public. Jerry Krause was undoubtedly a great General Manager for the Bulls, but he wasn’t a great leader.

Are you interested in learning more about foreclosures and the foreclosure process? Are you trying to find a foreclosure property to potentially invest in? If the answer is “yes,” then you have come to the right place. Over the next several weeks I will be releasing a series of posts that I am calling, “The Foreclosure Series,” to provide readers with everything they need to know about foreclosures and pre-foreclosures. Included in this series will be foreclosure terminology, how the foreclosure process works, how to find foreclosures, and much more.

In my last post, I talked about the potential for a “tidal wave” of mortgage foreclosures when the country fully opens up again from COVID-19. Whether this will happen or not is still unclear, but the effects could have a major impact on the real estate market. This is why I feel it’s important to not only address the potential impact of having millions of homes nationwide in the foreclosure process, but also to educate readers on ways to mitigate foreclosure and pre-foreclosure situations.

I know a few things about foreclosures. When I first became a licensed Realtor in 2000, my area of focus was working with homeowners in foreclosure to help them sell their homes before they went to auction. This was my focus until 2003, when I started a company that focused on purchasing distressed properties. Between 2003 and 2008, my company bought and sold more than 40 distressed properties. I flipped many of them for a profit, but I also kept some for long-term investment. I also wrote an award-winning book in 2008 – The Foreclosure Revolution, which discussed the foreclosure epidemic in America, as well as investment strategies. But despite writing the book and being an expert on foreclosures, I still personally felt the effects of The Great Recession, which made for years of holding numerous properties that were worth less than the mortgages that I was paying on them. So I have felt both the joy and pain of investing in real estate as well. As painful as that period was, I learned more from may failures during this time than all of my successes – Combined! That’s what I want to share with you.

So tune in (or subscribe) to my blog over the next several weeks. We are going to take a journey in the world of foreclosures. Our next post will address foreclosure terminology.
Joe Sesso is the Executive Director of Sales Marketing for Homes.com and an Award Winning & Best Selling Author

Last month, President Joe Biden extended the mortgage forbearance & foreclosure COVID protections for struggling homeowners through June 30. With an estimated 10 million homeowners behind on their mortgage payments, the big question is, “what will happen when the protections expire?” The fear is that it will create a tidal wave of foreclosures. Whether this will happen or not is anyone’s guess, but for Realtors and real estate investors, it may create a win-win situation between them and homeowners.

During the Great Recession of the late 2000s, foreclosures could be found in almost every neighborhood in America. Millions of people lost their homes, and it took years before the housing market was able to return to 2005 pricing levels. Unlike the Great Recession, this situation is very different. Here are three reasons why this potential flood of foreclosures will have a much different impact than the Great Recession.

1. We’re in a Pandemic Economy: The Great Recession was a true recession. Unemployment was high and the economy stalled after the subprime mortgage market imploded. The Pre-COVID economy was strong with record-low unemployment. And while we are not yet back to our Pre-COVID levels, we are much lower than we were in the Great Recession. All expectations point to a return to a robust economy when all of the restrictions are lifted.

2. Lending Rules are Much Different Today: In the mid 2000’s, you could buy a home with no money down and even no job (remember the NINJA loans?). When the economy turned sour, many of these homes went into foreclosure and were abandoned. Today’s lending standards are much more stringent and most loans require a down payment.

3. Home Equity is Much Greater Today: While a strong economy and stricter lending rules can help soften the blow of a large influx of foreclosures, perhaps the biggest factor is the rate of real estate appreciation. With home prices rapidly rising in most markets, homeowners in foreclosure have more options than they had during the Great Recession. For example, if a homeowner needs to sell because they cannot keep up with the payments, they can list their home with a Realtor for a quick sale. This will create a win-win situation. The homeowner sells their home and pays the bank back in full, thus ending the foreclosure proceedings, and should be able to still walk away with a small profit. The buyer wins because they are able to purchase a home quickly, and the Realtor wins because they are able to earn a commission from the sale of the home.

Many homeowners continue to struggle to make mortgage payments through the COVID-19 pandemic. But this economy is much different than the Great Recession, which will give them more options to come out ahead in the end. Mortgage forbearance has been helpful, but the rate of appreciation in their homes will give homeowners more options than before.

In the U.S., March is recognized as National Women’s History Month. Throughout the month, companies and individuals focus on the contributions that women have made to our history. The world of real estate is no different, as many women have contributed to and developed this field into what it is today.

In a recent Secrets of Top Selling Agents webinar, four women shared their stories of how they grew their real estate careers into the powerhouses they are today. Marki Lemons-Ryhal, Wendy Papasan, Sue Adler and Shannon King are all well-known throughout the real estate industry both for their market knowledge and their ability to inspire others to pursue their own real estate goals. During our uncertain times, these dynamic women shared their experiences of 2020, and how they have been able to keep their businesses growing. Here are the some of the lessons they shared.

Embrace Change with Positivity

Sue Adler runs a Keller Williams team that has been among the top producing teams for all companies in the country for the past 15 years. In 2020, her team did $225 million in sales, which is unprecedented during the time of the COVID shutdowns. Adler shared that one of the main reasons she and her team were able to accomplish this was by shifting their focus from new client acquisition to sphere of influence and past clients. In addition to this, her team members went above and beyond by performing acts of service within the community, which earned them admiration and recognition within their community.

The pandemic made it very difficult to do in person showings. Adler and her team quickly pivoted their focus to digital listings, so consumers were still able to search for their next home. Another virtual tactic Adler’s team used was hosting open houses through Zoom. These open houses generally saw 30-40 registrants per event.

They also created virtual home-selling workshops, which generated nearly one thousand registrants. These attendees then became their pipeline, because they were looking to sell in the near future. Adler’s digital and virtual strategies paid off in a big way in 2020.

Building Wealth Through Real Estate

Wendy Papasan is the leader of the Papasan Keller Williams group in Austin, Texas. Wendy’s focus during the webinar was on building wealth through owning investment properties. According to Papasan, “One in three REALTORS® has saved nothing for their retirement.” Papasan shared her personal story from twenty years ago, when her husband attended a real estate finance class. When he came home from the class and told her that they needed to start tracking their net worth. This was their first step to becoming multi-millionaires. She then shared her four fundamental habits to acquiring wealth through real estate investment with viewers.

Papasan said the first fundamental habit to reaching your wealth goal is to track your net worth, “Everything you own minus everything you owe,” every month in a spreadsheet. Papasan’s second habit is to pay yourself first, which means taking a percentage from every commission check and putting it into your investment account before you pay anything else. Her third fundamental habit is to “Say no to say yes.” This means saying “no” to the material things you want right now, so you can say “yes” to the more important things you want later, such as an investment property. Papasan’s final habit is to become financially educated, especially since this is a skill most people are not taught. She recommends reading The Psychology of Money and The Simple Path to Wealth, to learn more about finances, investments and acquiring wealth.

Generating Passive Income

Shannon King is the master of establishing and building her business in multiple locations, as she has become licensed in multiple states and in Europe. In her segment, King stressed the importance of creating an exit strategy for yourself to actively walk away from your business. She said the best way to do this is to find your definition of success. This means asking yourself how much money you will need to be able to retire from your business (i.e. net worth, monthly income, etc.)

Another tip is to design a business that creates passive income. King does this by focusing on her sphere of influence through phone calls, holiday cards and other mailings. Her main focus is referrals, which generates passive income for her from past clients around the world. In addition to this, King recommended investing time in thinking about your brand name so it can be transferable in the future when you’re ready to retire. King said that it is crucial to create strong partnerships and build relationships across cities so you have contacts in multiple places. King shared that, whenever she moved, she identified her exit strategy by finding an agent she clicked with who she could trust her clients with when she left the area. Her final tip was to create a lifestyle in which you’re working with your target market, connecting with agents who will send you referrals and generating a passive income, while still being able to live a life you love.

Pivoting in the Face of Uncertainty

Marki Lemons-Ryhal, keynote speaker and best-selling author, built her empire as an educator in the real estate and marketing sphere. When the pandemic caused shut-downs of all speaking events, Lemons-Ryhal took this as an opportunity to “emerge better.” During this time, she published twenty-three publications, four of which became international best-sellers. In addition to this, she collaborated with and raised $50,000 for “THE 77” and created a scholarship fund for African-American females in underserved communities. She also created a real estate clothing line in collaboration with another agent. Lemons-Ryhal’s message was to face times of uncertainty and think about how you can use them to focus on both what’s important to you and how to generate forms of passive income. She told listeners to think about what’s needed in real estate and your community and how you can collaborate or get involved to make that happen.

To watch the full interview and learn all of these women’s top tips and secrets, please go to www.SecretsOfTopSellingAgents.com

Joe Sesso is the Executive Director of Sales Marketing for Homes.com and an Award Winning & Best Selling AuthorJoe Sesso is director of Sales and national speaker for Homes.com. For more information, please visit marketing.homes.com.

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By Joe Sesso, Author and National Speaker for Homes.com

Consumers looking to buy or sell rarely go directly to a real estate agent’s website to begin their search. Instead, they use Google to begin their search for their dream home or to find the perfect agent to sell their home. If you want to show up on page one on Google when consumers are searching for homes in your market, you have to optimize your website for Google and other search engines. This is known as search engine optimization, or SEO. Here are five important steps to boost your website’s SEO and to show up on Google searches before your competition.

Build the Right Link

Building the right link can be challenging due to the complex algorithms Google and other search engines have in place to determine which websites relate best to the search terms that consumers input and where they should be displayed in search results. One component these algorithms account for is trustworthiness. This is critical to SEO. Search engines examine how often your site has been visited by consumers, as well as how often visitors engage with the content on your site. Another key factor is how many backlinks your site has. Simply put, Google wants to know how many other trusted websites share links to your website. The more backlinks that you have to your website from other trusted sites, the better it is for your SEO.

In the past, website creators could create a directory page with links to well-known, trusted websites to build up their own credibility. However, search engines are smarter now and don’t want to see a list of links to outside sources on websites. Their algorithms favor relevant links that make sense in context, such as a link from your preferred lender’s site to your website. It also helps to have reciprocal links to other sites. In other words, Google also wants to see your website link back to your preferred lender.

Choosing the Right Link Building Partners

Because link building works best when it’s reciprocated, you should think about what you have to offer the businesses that you share links to on your website as well as any other companies who may benefit from a link on your website.

Before you create a link or approach a business about reciprocating links, make sure they have a high-quality website, as these are more likely to benefit you than a low-quality website. Look at the quality of the content, how easy their site is to navigate and how well it actually runs. Again, it also has to be relevant to real estate to maximize your SEO.

Connecting with Potential Backlink Partners

When you approach someone about sharing your URL on their website, you should be prepared to explain how the URL will provide benefits to them. A creative agent can leverage their partners in plenty of ways. Start by knowing what your website traffic is, and, if you have high-traffic numbers, include that in your pitch. If your followers are on social media, offer to do a live video talking about their business or message. Where applicable, you can also refer clients to them, include them in top 10 lists/eBooks, or make a video together. If you host any seminars or classes, offer to let them speak during your lesson. You can even offer to co-sponsor an event or fundraiser with them to help spread awareness about their business.

Incorporating Link Partners

If you have existing partnerships with local businesses, create pages or blog articles that discusses their role in the home buying or selling process. And don’t forget partners that can benefit after someone buys a home! This is where you can easily tie in links from the trades, home improvement or hardware stores, or pretty much anything that has to do with the upkeep and security of a home. Be sure to include links over to their website as well. If you’re not sure what other partnership opportunities you should explore for link-building, consider starting a page about your community. This will give you a platform to speak about and to share links to restaurants, stores and service providers of all kinds. Just remember to include the links organically. This means that you need to create your content first and then include the links where they make sense.

Link building is just one of many important SEO building tactics you’ll need to employ to show up in local search results. If you’re still unsure about the backlink process, Homes.com can help. Visit Marketing.Homes.com to learn about our SEO services for real estate agents.

Joe Sesso is the Executive Director of Sales Marketing for Homes.com and an Award Winning & Best Selling Author Joe Sesso is director of Sales and national speaker for Homes.com. For more information, please visit marketing.homes.com.

As a real estate agent, you may find yourself working long hours in an effort to build your business and ensure success for your clients. Mitch Ribak, team leader for Tropical Realty Beachside, appeared on the Secrets of Top Selling Agents webinar in January to show agents how to earn more money and work fewer hours per day. Sound impossible? Check out these five tried and true tactics for generating more leads and closing more business while working fewer hours.

Understand the Business You’re In

During the webinar, Ribak took a poll asking agents what business they believed that they were in. Answers ranged from relationship building to service to marketing. But one answer in particular stood out to Ribak: lead generation.

Real estate agents are in the business of lead generation. Lead generation is the engine that keeps your business running. You have to be able to generate leads in order for you to build and grow your business. There are many ways to accomplish this, but Ribak suggests heading back to the basics if you’re looking to generate more leads and earn more money.

Open Houses

If you’re in a state where open houses are currently allowed, Ribak suggests implementing them in your lead generation strategy. He suggested a couple of things to consider before hosting an open house:

– Choose the right house: Choose an unoccupied home that has been on the market for a little while (if possible). Also, choose a home that has at least two to three other homes for sale in the same neighborhood. Avoid choosing gated communities if possible, as they they can be a deterrent for potential buyers to visit without an agent.

– Scheduling: If your business is a little slow, Ribak suggests holding open houses every day from 10 a.m. – 4 p.m. If your business is normal or a little busy, hold open houses on weekends during the same time.

– Advertising Tips: According to Ribak, 90 percent of open house sales come from signs that advertise the home, so be sure to use them. Facebook ads can work, but you don’t have to use them in order to sell your listing.

Finally, if you plan to hold open houses, make sure you’re prepared. This includes a wireless laptop, some water for visitors and some finger food to share with visitors. Mitch offered a great tip by telling the audience not to print out the current listing, but be prepared to share it via email so that you can add attendees’ contact information to your CRM database.

Plan Your Communication Standards

Your follow-up plan should be to keep in contact with clients and potential buyers that you meet during your open houses. When working with your clients, Ribak suggests adjusting your messaging on how you will interact with them.

To start, Ribak suggests asking personal questions (within reason) and getting invested on a personal level. You can also ask about showing other properties nearby. If they are interested in seeing listings, ask if you can text them your information. Doing this will enable you to save their contact information into your phone and to keep the conversation going beyond the initial meeting.

Maintaining and growing a relationship with your clients means more than just real estate talk. Ribak says to talk less about real estate and to talk more about their family, lifestyle and personal interests. This will show your clients that you value them as friends as well. Be sure to jot down a few notes after your interactions—you never know how important personal details could be during your relationship with your clients.

Know Your Circle of Influence

Ribak described a Circle of Influence to be “the most underutilized gold mine in real estate.” To identify your Circle of Influence, create four lists: friends and family, out-of-area contacts, acquaintances and past clients. The communications you send to members of each list should be created specifically for that group.

Friends and family should have content such as a personal update, market update and something that is going on in your area. Acquaintances and out-of-area contacts should only have a market update and something exciting about the area you work in. Past clients should have emails that pertain to other subjects such as listing updates or a market analysis.

Bonus Lead Generation Tips

Ribak concluded the webinar by providing some bonus tips for generating leads to elevate your business. He suggests joining some local clubs in your area to get to know the members and what they may be looking for in the future.

He also mentioned that you can build your own networking group. You can try this by joining a Facebook Group or connecting with other real estate agents on LinkedIn.

Generating leads to attain your business goals can be challenging. Hopefully after reading this, you’ll feel ready to better focus on your business, which can enable you to work less. To watch the webinar recording, head over to the Secrets of Top Selling Agents Facebook Group to join in on the conversation.

Joe Sesso is the Executive Director of Sales Marketing for Homes.com and an Award Winning & Best Selling AuthorJoe Sesso is director of Sales and national speaker for Homes.com. For more information, please visit marketing.homes.com.