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  • The SECRET to a Break-Out Year in 2024

    The SECRET to a Break-Out Year in 2024

    Beginning in my 2nd year as a REALTOR® and for 12 years in a row, I earned between $590,000-$865,000 GCI, all as an individual agent. So I’ve been asked more than a few times, “What’s your secret, Ted?”

    I’ll reveal my secret within this RAM. But be forewarned; if you’re lazy and think you can skip to the end for the answer, you won’t get it. Please take the time to read this entire post. There’s something here that is my gift to you for 2024.

    Most REALTORS® are in a never-ending quest to find the magic pill, the ONE thing that they think will massively improve their business and life.

    Many think it’s social media. “If only I were better at social media, I’d have all the business I could handle!”

    But the reality is that 99% of agents get a net-negative return on social media compared to the time and energy expended.

    It’s like being a musician or an actor; a thousand incredibly talented people struggle for every one who makes it big.

    I’m not saying you shouldn’t have a presence on social media. Of course, you should! But unless you’re already naturally social-media-savvy, you’re probably beating your head against the wall trying to learn a skill that feels alien. Instead, you should be utilizing your valuable time to improve other more critical aspects of your business, such as:

    Organizational skills – Do you complete tasks and projects promptly, rather than simply reacting to whatever is happening on a day-to-day basis and never truly getting ahead of the game?

    Follow-up skills – Do you have a system to keep track of prospects and naturally convert them into clients, over time, by being a skilled PVI (Provider of Valuable Information)?

    Communication Styles – Do you communicate with everyone in the same way? Or, do you understand how to modify your delivery to appeal to the 75% of people who do NOT think the same way you do?

    Pricing Psychology – Do you know how to price your listings accurately and, more importantly, make this abundantly clear to your sellers?

    Marketing – Do you know how to separate yourself from the crowd by producing the most compelling MLS presentations possible and then leveraging those listings to get more listings?

    Website – Does your website clearly define WHO you are, WHAT you stand for, and WHY people should hire you? If not, please tell me; what’s your website for exactly?

    Listing Presentation – Do you have a repeatable, easily modifiable listing presentation that makes you look like the only true professional in a sea of amateurs?

    Referrals – Do you know how to produce a never-ending stream of referrals from your raving fan base?

    If only there were a simple, logical, step-by-step program to teach all the above skills (and so many more) and immediately incorporate them into your business.

    If only there were a wildly successful agent who took an entire year off at the peak of his career to produce such a program because he saw the need for it and sincerely wanted to help others achieve their full potential.

    Oh, wait. There is.

    The Agent Skills Masters Program

    Click on the link. Scroll down to the “Modules” section and read all about it.

    Another year has passed, It’s time to get serious.

    And this year, for the first time, here’s an offer you can’t possibly refuse (I hope):

    If you complete the course, I’ll immediately e-transfer you $2,100 ($2,000+GST). That means you pay only $495+GST as a one-time fee for lifetime access.

    Here are the simple, straightforward rules to claim your refund:

    1. Send me your completed workbooks (within six months) as proof that you’ve completed the course. 

    2. There’s no #2. Please read #1 again.

    It takes less than eight hours to watch every video (and complete the workbooks at the same time) so you could do this in one day if you wanted to. Think about it this way:

    I’ll pay you $250/hr (8 hours X $250 = $2,000) to take my course! All you have to do is sign up before midnight on December 31st. This offer will NOT be made again for at least another year. So you have three choices:

    1. Do nothing. Hopefully, things just magically get better this year!

    2. Wait another year and hope this offer comes back again.

    3. Sign up now. Go to https://agentskills.com/, scroll down a bit, click the “Try it, risk-free!” button, and enter your info. You’ll get immediate access to the entire course.

    In fairness, if you’ve signed up for the course within the last six months, email or text me, and you’ll get the same deal!

    Why am I doing this? Am I still making money at $495?

    Not really. Honestly, I won’t list all the myriad of costs here but suffice to say that transactional and platform fees whittle away at that $495 PDQ, not to mention my own time. But I know it’s human nature that some people will sign up and never complete the course. So, in a way, they’re paying for you if you choose to take advantage.

    But know this: I’m not counting on that and it’s NOT what I want. I genuinely want everyone to finish the course, and I’ll be thrilled to e-transfer you that $2,100! My motivation is not about money; it’s about improving our industry. And I know that every time an agent completes the course, our industry gets a little bit better.

    Think about it as a late Christmas present from me to you! More SKILLS = More MONEY

    Do it now! You know, as soon as you close this email, it won’t happen. Make an early New Year’s resolution.

    Go here: https://agentskills.com/

    Together, let’s make 2024 the best year yet!

  • Revealed within this RAM – The Magic Pill to Make it BIG in 2023

    Revealed within this RAM – The Magic Pill to Make it BIG in 2023

    Most REALTORS® are in a never-ending quest to find the magic pill, the ONE thing that will massively change their lives for the better.

    Beginning in my 2nd year as a REALTOR®, and for 12 years in a row, I earned between $590,000-$865,000 GCI. So, I’ve been asked for the magic pill more than a few times. 

    I’m not exaggerating or being coy when I say I will reveal the magic pill within this RAM. But be forewarned; if you’re lazy and think you can skip to the end, you won’t get it.

    Currently, many REALTORS® think that the magic pill is social media. “If only I were better at social media, I’d have all the business I could ever want, and my life would be so much easier!”

    The reality is that 99% of agents get a net-negative return on social media compared to the time and energy expended. And it’s debatable if that number is a mere 99%. 

    It’s like being a musician or an actor. There are far more talented people who struggle than those who make it big.

    I’m not saying you shouldn’t have a presence on social media. You absolutely should! But unless you’re already highly social-savvy, you’re probably beating your head against the wall trying to learn an alien skill. Instead, you should be utilizing your valuable time to improve other more critical aspects of your business, such as:

    Organizational skills – Do you have the proper skills to complete necessary tasks and projects rather than simply reacting to whatever is going on every single day and never seeming to get ahead?

    Follow-up skills – Do you know how to keep track of prospects and naturally convert them into clients over time by becoming a skilled PVI (Provider of Valuable Information)?

    Communication Styles – Do you treat everyone the same? Or, do you understand how to modify your delivery to appeal to the 75% of people who are NOT like you?

    Pricing Psychology – Do you know how to price your listings accurately and, more importantly, how to make it obvious to your sellers?

    Marketing – Do you know how to separate yourself from the crowd by producing the most compelling MLS presentations possible and then leveraging them to get more listings?

    Website – Does your website clearly define WHO you are, WHAT you stand for, and WHY people should hire you? If not, what’s it for exactly?

    Listing Presentation – Do you have a repeatable, easily modifiable listing presentation that makes you look like the only true professional in a sea of amateurs?

    Referrals – Do you know how to produce a never-ending stream of referrals from your raving fan base?

    And a hundred other skills…

    If only there were a simple, logical, step-by-step program to teach all of the above skills and how to immediately incorporate them into your business…

    If only there were a wildly successful agent who took an entire year off at the peak of his career to produce such a program because he saw the need for it and sincerely wanted to help others achieve their full potential…

    The Agent Skills Masters Program

    Click on the link. Scroll down to the “Modules” section and read all about it.

    You want the magic pill? There are actually several. Take them one at a time.

    Another year has passed. It’s time to get serious.

    If you’re not THRILLED, I’ll refund 100% of your investment (approximately a quarter of one commission), no questions asked.

  • The Deceptive Statement, “Anyone Can Post Your Listing on the MLS”

    The Deceptive Statement, “Anyone Can Post Your Listing on the MLS”

    “Anyone can post your listing on the MLS system.” 

    This is one of the most deceptive and misleading statements in real estate marketing.

    Misleading by “telling the truth” is so pervasive in daily life that psychologists have recently employed a new term to describe it:

    Paltering—the active use of selective truthful statements to mislead. 

    Politicians have a fine art out of paltering. And frankly, so have many REALTORS®.

    Of course, every REALTOR® indeed can post a listing on the MLS system. However, the question is not whether you can do it or not. 

    The question should be,

    “HOW WELL can you do it?”

    How well do you understand the target buyer?

    How effective are you at focusing on the best features of the property? 

    How compelling is your overall ad copy?

    And, of course, how good are the images you use?

    Stating, “Anyone can post your listing on the MLS,” implies that the quality and effectiveness of one listing is the same as the next. But as you are well aware. Nothing could be further from the truth!

    Let’s take a step back and ask, “How important is the MLS System, anyway?” To find the answer, simply ask yourself:

    How does every serious, qualified, active buyer find out the details about your listing? 

    It’s through the MLS system, of course! 

    There’s actually no other way except possibly by driving by and noticing the For Sale sign or attending an Open House. But even then, serious, qualified, active buyers already know all about it! Right?

    So why do so few REALTORS® even discuss this most crucial aspect of marketing property?

    Again, it’s because “anyone can post your listing on the MLS system,” and most agents don’t know how to differentiate themselves from their competitors.

    But I do.

    What about you?

    Do you feel confident demonstrating how your listings stand out from the crowd with superior photography, compelling ad copy, and other subtle elements that contribute to the most powerful MLS presentation possible?

    Can you confidently state that your clients will get more high-quality showings from serious, qualified, active buyers and dramatically improve their odds of selling quickly for the highest possible price?

    If not, what are you doing? Isn’t this your job?

    Note: I’ve emphasized the words serious, qualified, and active several times because if a buyer is not serious, not qualified, or not actively looking, then your seller simply doesn’t care about them, right? Or at least they shouldn’t. 

    What’s the point of marketing to people who are not serious, not qualified, or not actively looking?

    Here’s a challenge for 2023: Before you plan on finally starting to use video, before you finally figure out how to have a better presence on social media, before you up the budget on mailings and bus benches…

    Figure out how to improve the impact of your listings, and then incorporate this into your listing presentation.

    The easiest and most effective way to market yourself is to demonstrate to potential clients that you’re a true professional at utilizing our most powerful marketing tool (the MLS system).

    Then you’ll find all that other stuff infinitely easier. 

    Marketing yourself is simple when you actually ARE better. That’s what Agent Skills is all about. 

  • Winter is the Time to Work ON Your Business

    Winter is the Time to Work ON Your Business

    As a newly licensed REALTOR®, I drove to the brokerage and worked from my office daily. The camaraderie in our office was (and still is) amazing. I credit this as one of the primary reasons I was able to get such a fast start in real estate.

    As a rosy-faced newbie (2-3 months in), I remember another agent stopping by my office and saying, “Wow, you’re always so busy! How many deals have you done already?”

    “Oh, none yet! I’m just working on setting up systems and procedures!”

    He gave me a funny look, wished me luck, and continued down the hall. He probably thought I’d never do a deal.

    I went back to work.

    You see, working isn’t only putting deals together. If that’s your attitude, you’re not going to work much. 

    You should be working ON your business when you’re not working IN your business.

    I still work this way, but it’s more seasonal now. In the spring and summer, I’m mainly working IN my business (putting deals together). I spend more time working ON my business in the fall and winter. 

    Here’s a partial list of what I mean by working ON your business. Go ahead and substitute “improving” with “initiating” wherever applicable.

    • Improving systems and procedures
    • Improving your website
    • Improving your listing presentation
    • Improving your monthly newsletter
    • Improving advertising/marketing programs
    • Improving your CRM
    • Contacting past clients
    • Taking a course to learn how to do all of the above more effectively

    Ack! There it is! Just a big pitch to convince us to buy his course!

    OK, you caught me.

    To be fair, if you’re a regular reader, you know that I rarely pitch my course directly.

    But the timing just seems right to remind you that winter is when you really should be taking my course, taking some other course, reading books, listening to podcasts, or something to become a better and more successful agent.

    Improving your business/bank account/life doesn’t happen by magic. If you want success, there is a price to pay. That price is time and effort. The more you put in, the more reward you get later.

    Is now the right time for you to make a positive change? Are you ready to put in the effort?

    If so, you can sign up here.

  • Why You Need an Accountability Partner

    Why You Need an Accountability Partner

    Ah, the life of a REALTOR®. Being your own boss is the best, right?

    No more annoying boss telling you what to do and dictating deadlines for boring projects. 

    Now, you set your own deadlines!

    Except you don’t.

    It turns out that being your own boss is way more challenging than we thought it would be! 

    The hardest part is doing the stuff that you perceive doesn’t have an immediate payoff (even though it does). For example, fixing your website, improving your listing presentation, working on a course, or any other items in your Great Pile of Projects (GPP).

    After all, we REALTORS® tend to get into the habit of simply reacting to whatever is happening every day, and there never seems to be enough time to get to the big stuff.

    But if you spend 100% of your time reacting to things and 0% working on larger projects to advance your business, you are a lousy ‘Boss of Yourself!’

    If this describes you, the first step is to admit it. 

    You don’t have to go to a meeting or anything. Just repeat after me:

    “I’m a lousy Boss of Myself.” 

    Say it out loud.

    Congratulations! You’re on the road to recovery!

    The second step is to learn and implement some basic organizational skills.

    One of the most critical organizational skills I constantly preach (I know, I know) is honouring ‘Appointments with Yourself.’

    “Honour” is the critical word (just as you would honour an Appointment with Your Best Client or an Appointment with Your Dentist).

    But why is it so difficult for most agents to honour Appointments with Themselves?

    There are two main reasons:

    1. We’re hard-wired to put everyone else’s needs ahead of our own.

    2. Big projects seem overwhelming, so we invent (hundreds of) excuses not to do them. 

    #2 is all about your lazy brain (we all have one). Your logical brain knows that the longer you procrastinate, the longer it will take you to start reaping the benefits of completing those big projects. But the lazy brain usually wins out.

    Making and honouring Appointments with Yourself seems simple and logical, yet we constantly self-sabotage ourselves.

    So, what’s the solution?

    How about an accountability partner? 

    I won’t get into too much detail in this tiny space. Instead, consult ‘The Google’ for best practices on choosing a partner and structuring your meetings, but here are my top three rules (which I learned by doing the opposite):

    #1. Always follow a strict agenda, whether meeting in person, over Zoom, or on the phone.

    Start on time, end on time, and know the agenda before you start.

    #2. Don’t allow your meeting to deteriorate into a BS session.

    You can schedule a BS section at the end of your meeting, but it’s business first.

    #3. Set firm but realistic weekly goals.

    For example, if you’re working on the Agent Skills Master’s Program, set a goal to complete one module before your next meeting.

    When you do this, your Accountability Partner serves as your ‘boss’ in a way (and vice-versa), which is a good thing! 

    To accomplish your weekly goals, you can use Appointments with Yourself. The more tasks you complete, the more you’ll realize how powerful this tool can be.

    Start by finding a partner, decide the ground rules, set a meeting time for the same time every week, and start setting goals. Then, you can use Appointments with Yourself to ensure you meet your weekly targets. 

    If you do this consistently, you’ll be astounded at how much you will get done before the end of this year. 

    Why not add this to your Brain Clutter List right now?

    All you have to do is write “Accountability Partner” on your list. That will be enough to remind you.

    After all, If you want more (of whatever it is you want), it’s not enough to merely read this and then do nothing. You’ve got to take action!

  • How to End the Vicious “Lead Chasing” Cycle Forever

    How to End the Vicious “Lead Chasing” Cycle Forever

    Every once in a while, I run into a REALTOR® I “know” but whom I’ve never met. 

    You know what I mean. I’ve chatted with them on the phone; maybe done a deal or two with them over the years, but we’ve never met face-to-face.

    They usually recognize me before I recognize them, primarily because of this newsletter.

    Mostly, they’re complimentary and tell me they “love my stuff,” etc. I’m sure some are just being polite, but I feel like most are genuine.

    This leads to more conversation and then the inevitable question:

    “That’s all great, but what do you recommend to get more leads?”

    I’m basically dumbstruck at this point because I realize they just don’t get it.

    Here’s what I feel like saying (but I don’t):

    If you do your job right, you don’t need to chase after cold leads!

    This is honestly how I feel, even though it often seems like the entire real estate “coaching industry” is against me.

    It’s been the same since I was a brand new agent, and I’m sure long before that. Coaching seems to always focus on “how to get business” rather than “how to be a great agent.”

    Let’s be clear. I’m not oblivious to the fact that the biggest challenge for most agents is how to get more business. It’s just how to get more business where we disagree.

    I’m going to segue here to prove a point. There’s a video going around social media that asks, “Would you rather have a million dollars right now? Or would you rather have one penny and double it every day for 30 days?”

    Spoiler alert: If you double the value of a penny every day for 30 days, it works out to $5,368,709.12 (or 536,870,912 pennies).

    So, here’s a twist on the question, “What if you started with one client, and you double them 30 times (not necessarily every day)?” In other words, you get two referrals from every client. 

    Same answer. You’d have 536 million clients.

    Of course, this is impossible. Not because you can’t get two referrals from any individual client if you really wanted to, but rather because it would be impossible to continue providing the exceptional level of service required to get those referrals! 

    Also, you can’t have more clients than people.

    But what if you could maintain a level of 50 or 100 clients? You’d only need two (or more) referrals from a few of your clients to do that. Maybe some refer you once, some not at all, but a few send you two or more.

    This is perfectly feasible and, in fact, relatively easy, if you have the right mindset. I’ll segue one more time to prove it.

    Think about one of your best referral sources, first name. Forget about a mere two referrals. These folks have sent you a dozen or more referrals over the years! 

    Why? Because they had a fantastic experience with you. You had great communication with them, and they followed your advice to a tee. The results made you look like a superstar. 

    OK, fine! But what about all the people with whom you haven’t had great communication, didn’t follow your advice, and the results were far less than great?

    That’s on you!

    Every time I hear a REALTOR® complaining that their clients just wouldn’t listen…

    You think you won’t get far better results and, therefore, way more referrals by putting in the effort to improve your skills, including (but not limited to) communication and persuasive skills?

    I’m dumbstruck, again.

    Of course, improving your skills doesn’t happen by magic. You can’t just concentrate really hard and suddenly have better skills. It takes commitment and effort.

    But just remember this fundamental truth:

    You don’t get referrals by asking. You get them by deserving.

    If you want to deserve more leads, you must shift your mind away from chasing leads and towards developing your skills and becoming outstanding at what you do. 

    “But, Ted! Why can’t I do both?”

    Because the time and effort spent chasing after cold leads takes away from the time and effort needed to improve your skills, thereby creating exceptional experiences and results for your existing clients. 

    You want to chase leads? Go ahead, but if this is the choice you make for yourself, just know that you’ll always need to do it.

    Personally, I choose to have a business with a never-ending stream of incoming referrals.

    The choice seems simple, obvious, and waaay more fun and rewarding.

  • Real Agent vs. Fake Agent

    Real Agent vs. Fake Agent

    I call this the ‘Real’ Agent Memo because it’s for ‘real’ agents, as opposed to ‘fake’ agents.

    A real agent/person is GENUINE. They are firmly grounded and quietly confident in themselves. They tend to be good listeners because they’re present in the moment. They’re not trying to figure out someone else’s agenda or worrying about their own.

    Genuine people are self-aware of both their strengths and weaknesses. Therefore, rather than blaming others for their mistakes, they seek ways to improve themselves. 

    Side note: I could have called this the ‘Genuine Agent Memo,’ but I thought GAM sounded stupid.

    A fake person is INAUTHENTIC. This stems from a sense of insecurity and a feeling of pressure to be something they’re not. They unconsciously hope their fake persona will help them to be more successful.

    But inauthentic people are toxic to both themselves and those around them. Here are three more traits of inauthentic (FAKE) agents/people:

    1. They don’t learn from their mistakes. Instead, they make excuses or blame others. Therefore, they never truly grasp the critical lessons that mistakes can teach us, holding them back from the success they want so badly.

    2. They have high opinions of themselves and want to ensure everyone around them knows how great they are. They use this façade to cover up their inadequacies, not daring to look too deeply within for fear of what they might find. 

    3. They lack consistency and the ability to stay on track. Rather than giving all they can to a project, they tend to bounce from one thing to the next, unsuccessfully trying to do everything and be everywhere. This is because they lack core values and don’t actually know what they stand for.

    I use the term, ‘Salesy Slickster’ to sum up inauthentic agents; slimeballs who will say or do anything to “get the deal” (collect a commission).

    The opposite of the Salesy Slickster is the Real Agent who always has the clients’ best interests at heart and works hard to better themself for their client’s sake.

    Unfortunately, as you know there are a lot of Salesy Slicksters who get a lot of business!

    Nothing irks me more than a loud-mouthed know-it-all agent who struts around like a peacock, reeking of unwarranted confidence and spewing garbage that they’ve convinced themselves is true. I call it “authoritative spewing!”

    I sometimes often ask myself, “Who in their right mind would hire this idiot/slimeball?”

    But what can you do about it?

    Stick to your core values. Listen to your client’s needs even more closely. Continue to tell the truth selflessly. Try to be a little bit better every day.

    And what if you recognize in yourself some of the inauthentic traits I listed above?

    Don’t worry! The fact that you felt a twinge of guilt means that you’re far more on the ‘real’ side of the spectrum than the ‘fake’ side. Truly inauthentic people would never admit or recognize that they’ve got a problem.

    However, if you want to explore this subject further, try reading this article from Psychology Today, Develop Authenticity: 20 Ways to Be a More Authentic Person.

    In the meantime, watch out for the next ‘Real Agent’ Memo in two weeks. And now you know the story behind the name!

  • How to Become the True Area Expert and Have Fun Doing It

    How to Become the True Area Expert and Have Fun Doing It

    This RAM is intended mainly for newer agents or any REALTOR® with the right mindset, including myself. Sometimes, writing this article every two weeks reminds me of what is important, so I’ve already implemented steps to follow my own advice!

    Have you ever had a buyer client tell you, “We didn’t want to bother you or waste your time looking at that property?”

    When this happens to me, I have to remind my clients that there’s nothing I’d rather do than go out to look at properties! It’s the funnest part of the job for me! I hope it is for you too.

    I also tell my clients to think about looking at properties as ‘homework.’ The more they see, the more they will learn.

    From your perspective, you should think about every viewing as an opportunity to add a little more cement to your relationship and to learn something yourself, whether they buy the property or not.

    Always try to maintain a Beginner’s Mindset.

    Even without your clients, you can learn a lot by previewing properties, especially in your Geo Farm area if you have one, or even if you don’t.

    Simply set yourself up to be notified every time there’s a new listing within the area or specialty you are interested in; then set up a preview as soon as possible after it’s listed.

    When I refer to a ‘specialty,’ it doesn’t need to be a Geo Farm necessarily. Maybe you want to become the known expert at a particular property type within a specific price range. Whatever your interest, set up a search for yourself. 

    To be clear, there’s nothing wrong with previewing listings if you’re up-front about it. Do not pretend that you’re showing the property to clients. Just tell the listing agent it’s a preview, and if the time requested isn’t convenient for the seller, work our a different time. 

    The listing agent will respect your honesty, and almost always, they’ll try to accommodate your request. But if the seller doesn’t want any previews, don’t worry about it. Just skip that one; no big deal.

    If you’re going to be serious about this, I strongly recommend building and maintaining a simple spreadsheet with columns for the MLS number, address, date of preview, price, pros, cons, results, etc. This may seem unnecessary at first, but it will become invaluable later. 

    Also, set up another search in your system for each property you’ve viewed, so you’ll be notified when there is a change in status. Then you can update the ‘results’ column on your spreadsheet. Just set up a search for the specific MLS numbers you’ve viewed. 

    To take it to another level, try predicting what will happen. For example, will it sell close to asking? In what time frame?

    The insight gained from viewing properties in person, thinking about each one, and then tracking the results, can make a massive difference to your knowledge and skills. 

    Simply reading the listing agent’s description is okay, but it will never give you the whole story. They never tell us the bad stuff, right? 

    But it’s the unspoken negatives that fill in the picture, allowing you to speak knowledgeably and gain a greater understanding of what factors truly affect pricing. 

    This in-depth knowledge will become gold for you later when you’re at an Open House or doing a CMA. After all, it’s one thing to look at the limited information available on listings (the same data available to every one of your competitors). But it’s quite another thing to be the ONLY agent who has previewed every active and recently sold property in the neighbourhood. 

    This gives you a decisive advantage over all your competitors, including those who tout themselves as the “Area Expert,’ but who don’t have anywhere close to the same level of knowledge you’ve accumulated. 

    You might be surprised to find out that the True Area Expert is you!

    When you run into someone who wants to know the ‘scoop’ on what’s happening in the neighbourhood, you’ll be able to paint a detailed picture based on your in-depth first-hand knowledge. The first time this happens, you will understand the power and confidence of being the True Area Expert. 

    And you’ll be surprised at how this simple process will help develop your overall skills as a professional real estate agent. For example, you’ll start to develop a sixth sense about pricing. Based on your first-hand knowledge of a concentrated group of listings, you’ll begin to understand what is important and what isn’t. 

    This knowledge tends to permeate the subconscious and becomes a valuable skill you’ll be able to draw upon, no matter which geographical area you happen to be working in.

    It’s not easy to become a true expert in real estate, but once achieved, this can have a profound positive effect on your confidence, and it’s free! All you need is the right attitude, which includes the willingness to stick to it and establish a system, including keeping impeccable notes.

    You have to stick to it because you won’t notice much difference after viewing 5-10 listings. After 50-100? You will have achieved the status of True Expert. Now, you need to keep it up.

    The next step is to learn how to demonstrate your expertise to as many people as possible. That’s a story for another day. Or perhaps several stories. 

    I’m glad I wrote this because it’s inspired me to get back to doing it myself. I just booked two previews for this afternoon. This is gonna be fun!

  • The Small-Box Real Estate Team

    The Small-Box Real Estate Team

    I was an individual agent throughout my real estate career, even when I was earning $800,000+ consistently, year after year. 

    I thought about starting a team multiple times, but I realized I was too much of a control freak. I’m not bragging about this. In fact, if I could do it all over again with the knowledge I have today, I might follow a completely different path.

    But I would never be the leader of a Big-Box Team.

    I call them Big-Box Teams because they remind me of Big-Box Stores, like Walmart. Can you buy patio furniture at Walmart? Yes. Will it be the highest quality? No.

    Let’s get something straight. Your team isn’t better than mine just because you have a hundred players, and I have five. You may score more goals overall but your players also trip over their skates and miss the net FAR more than my five highly skilled players. 

    I dislike the Big-Box team concept mainly because I know these teams do not serve the public’s best interest. I know it first-hand because almost every time I have a Big-Box team member on the opposite side of a transaction, I’m appalled by their lack of training and basic skills. Many can barely stand up on their skates, let alone stickhandle around a complex real estate problem. 

    When I talk about a lack of training, I’m referring to the important customer-centric stuff. You know, like how to do a superb job for your client. Isn’t that what we’re supposed to do?

    News flash: Becoming a great agent is not about learning canned scripts and chasing crappy leads. Robots can do that.

    Most of these rosy-faced Big-Box newbies start out with the best of intentions, but they get sucked in by the ultra-slick Big-Box recruiting pitch. Then they make the sad mistake of signing a contract with the team leader without reading all the fine print. 

    Eventually, most of them realize they’ve been bamboozled, but unfortunately, many leave the industry forever, utterly disillusioned about what it takes to make it in the real estate business. I feel heartfelt sorrow for them. Most are good people who have simply been led astray.

    So yes, I loathe the Big-Box Team concept for many reasons, as I’ve made clear in this space numerous times. But that certainly doesn’t mean I’m against all teams! 

    What is a team, after all? A team should be a close-knit group all working together towards the same common goal. Hopefully, in real estate, that goal is to consistently deliver exceptional results to every client.

    Over the years, I’ve encountered many outstanding Small-Box Teams with genuine client-focused values that are integral to the hiring process.

    That’s the critical difference between a good team and a bad team. As in any business, you can trace the group’s culture directly to the leader. What exactly are their core values?

    Is it all about “signing up” as many recruits as possible and then collecting a (significant) portion of their commissions? These are the Big-Box Team Leader Wannabes. They’re the worst.

    Or is it about seeking out the right people who already possess the burning desire to deliver an exceptional experience to each and every client? 

    And, after carefully choosing the right people, does the leader have refined systems to provide true mentorship, training, and support, thereby maximizing each team member’s potential?

    Now, that’s a winning team!

    If I could do it all over again, I’d try to build a team just like that. Or maybe I still will.

    Can you tell I’ve got hockey in my brain? Go Flames Go!

  • Have We Passed the Peak of the Market?

    Have We Passed the Peak of the Market?

    I’ll be using local (Calgary) data in this post. However, it’s not the data itself that is important, but rather how and why you should gather and demonstrate this critical information to your clients. You can easily do this in a few minutes, no matter where you are.

    We’ve had a wild market here for some time, but I’ve been feeling lately like it’s not quite as crazy as it was. So the question is, “Have we passed the peak?”

    It’s entirely valid that an experienced and skilled Real Agent will develop a sixth sense about the market. But when the public is saturated with news about how insane the market is, it’s hard to convince them of a contrarian viewpoint just because you “feel” a certain way.

    You want people to make good decisions? Give them good data. The monthly sales numbers are good. But what’s better than monthly data?

    Weekly data. 

    So, here are the weekly sales (since Feb 1) for detached homes in Calgary, which I just pulled from our system in less than five minutes:

    Date Range | # Sales

    Feb 1-7 | 404

    Feb 8-14 | 499

    Feb 15-21 | 480

    Feb 22-28 | 518

    Mar 1-7 | 547

    Mar 8-14 | 505

    Mar 15-21 | 523

    Mar 22-28 | 486

    Mar 29-Apr 4 | 453

    Apr 5-11 | 424

    Apr 12-18 | 394

    So, there you have it; we are indeed well past the peak of the market. The numbers prove it.

    This doesn’t mean the market is likely to change radically. On the contrary, there is still plenty of pent-up demand, so I believe the market will remain strong for some time.

    But it’s essential to understand when a market is shifting and contemplate possible explanations, such as:

    1. Some buyers have given up.

    Prices have risen dramatically to the point that some buyers can no longer afford to buy what they want. Others have lost out on so many multiple offers that they’ve given up out of sheer frustration.

    2. Remaining buyers are more conservative.

    Most of the “gun-slinger” buyers—those willing to write unconditional offers far over asking—have already bought. The remaining buyers are more patient and willing to wait for the right house at the right price.

    3. Inventory is still extremely low.

    This part hasn’t changed, but it does tie into #2 above. Since the remaining buyers are more conservative, they’re not jumping on whatever listing hits the market, as was the case earlier in the year.

    4. There are more over-priced listings on the market.

    This is because sellers are working off “old” inaccurate data. They think if a house sold for $750K in March, it must be worth $850K now!

    The main reason for this? Their agents are unskilled and do not provide their sellers with the correct information they need; for example, the information I’m discussing in this post!

    5. Concerns over rising interest rates, inflation, and the general state of the world.

    These are all valid concerns, and they tend to weed out the more conservative buyers. 

    All five causes above are interrelated. So, what’s the point of all this?

    Your clients need clear information to make intelligent decisions.

    It’s your job to provide that information.

    Weekly sales data can be another insightful factor to consider when determining the price of a listing. After all, over-pricing is the kiss of death in an active market (or any market). 

    It’s also an easy way to differentiate yourself from the real estate drones.

    __________

    From the Mirriam-AgentSkills dictionary:

    real estate drone drōn a real estate agent who provides the exact same information as every other real estate agent.