Super Agents Live- Selling Real Estate

Todays guest is steven ross an expert in persuasion.  Persuasion is one of my favorite topics because everyday in multiple ways we play persuasion games.  According to game theory everything we do is an act of persuasion---we do this at work, at home, with our kids and with our partners.  For most of us---trying to get another to see the world as we see it is the most important thing and that is never truer than in business.  Whether its on our instagram or on facebook we are trying to persuade others to see the world as we see it or the way we want them to see it.  I would make the argument that persuasion is the single most effective thing we can learn to master in order to shape our lives in a way that we are ultimately happy.

Persuasion starts with our body---our facial expressions extends to our tonality and pace of speech and ends with the content we are delivering.  Often we get into sales pitches and deliver our pitch perfectly only to walk away with a blank contract-------why?  Effective persuasion is part psychology, part sociology and to be effective we need to understand both game theory and be able to be an illusionist knowing what to reveal and when. 

Today I have Steven Ross on the show and if you havent heard our first interview a few years ago I would encourage you to go back and find the episode I think its number 276 we get into doublespeak and subtle words can effectively put people into a more receiving state---we also talk about how to use the power of touch.

Today on the show we bring on Tyler Whitman of the hit show Million Dollar Listing.  We discuss why you need to be a hyper local expert in your market.  We dig into the type of expertise you must develop to differentiate yourself and why differentiation is the difference between winning and going hungry.

Getting rich is rarely about being the smartest person in the room nor, is it always about taking gigantic risks and betting it all on black.  More often than not, its about being in the right place at the right time and recognizing that the world is shifting beneath your feet.  That's why the "luckiest" entrepreneurs often have a very diverse group of friends and  interests.  Today's guest recognized there was gold laying in plain sight.

Whether its from government intervention or tech innovation the way realtors have typically made a living are about to change.   Some of the changes that have been proposed are small and relatively unimportant.  A rule that was enacted across the board was that buyers agents could no longer advertise that there services were "free" and that agents could no longer "not" show a property due to the low co-op fee.  Those seem pretty reasonable and were enacted by most MLS's across the nation.

At the heart of the REX initiated DOJ antitrust lawsuit that seems to be most confusing is that they are arguing that buyers should pay for their own agents services and the seller should pay for their agent.  This may benefit a company like REX but, it seems like it would create a larger barrier to first time homebuyers and stifle the overall market.  Today we discuss.

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When you are stuck how do you breakout?  What separates the average performer from the super successful?  Dr. Hank Seitz and I discuss these issues along with various other topics including mental mapping and how we all may be cut from the same cloth but, just haven't yet realized it.

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Today I talk with Matthew Ferry.  Matthew is a long time and prominent coach to Wall Street folks, Fortune 500 CEOs and he even coaches someone in the royal family but, he doesnt divulge names which I can so very much appreciate.

I bring Matthew on to talk about his brand of goal setting which he calls enlightened goal setting.  Its a term which he has probably coined and I suggest you drop any preconceived notions about what it is and whether it will work for you.

The reason why Matthew coaches people at such a high level is that successful people gain mastery in the basics, time management, goal setting, delegation, etc. but, often its when we reach all or most of our goals in life we become stagnant not knowing how to break through to the next level.  Sometimes we cant even envision a next level and we can feel stuck, stagnant and sometimes having the outward appearance of massive success but, on the inside feel like frauds--I certainly have felt like that at many points in my life and career.  Most of the times I have felt like that its been because money alone has stopped being my primary driver.

Its in those times that I need to stop and find a higher purpose---I need to find something larger than myself to aim toward.  Heres my conversation with matthew Ferry.

Download his free workbook here

https://matthewferry.com/optin-497351461626468565047

 One thing that has really improved in this industry is technology--technology used to be your CRM now its the ability to send targeted ads to age groups, specific geography or category.

One thing that is going to get better and better is predictive analytics.  All kinds of companies are developing new predictive models.  If companies better predict buying or selling behavior we can get in front of the seller sooner. 

Its going to be a while before these things really get sorted out so Im not worried about this in the short term.  I do see a few threats on the horizon and some of these you probably should be aware of.

First--are you familiar with the lawsuit between redfin and the DOJ?  Redfin was suing for more transparency around buyer broker commissions.  Redfin wants to fundamentally remove the ability for buyers agents to work for a buyer and get paid by the seller.  They want buyers to pay their agents directly.  That means that when you take on a new buyer you will have to negotiate your own buyers agent fee upfront.  No more will you help a buyer find a house and get paid by the seller at closings.  

While this sort of transparency is always good it will undoubtedly effect commissions in many markets.  Here in San Diego where the average price is 850,000 dollars a buy side commission is roughly 25,000 dollars.  I think a lot of buyers are going to experience sticker shock.  We will have to see what this ends up looking like over the next 18 months but, I think this is a call to action whereby agents particularly ones focusing on buyers that they up their game.  You going to have to up your game and really get clear on what value you add to a transaction.  

I might do an episode on that----hit me on twitter if that sounds interesting my handle is @superagentslive

Krista has been a top agent for a very long time.  I ask her what she has learned from coaching top agents as well as, what agents are getting wrong.  I hope you enjoy this as much as I did.

Hey everybody--I hope you are crushing it.  Todays I bring on Gregg Sugerman.  Gregg is a coach that focuses on mindset.  We discuss how to identify your unique competitive advantage.  Where people get stuck in their businesses and lives and how to break out of those barriers.  WE discuss why you should develop your own personal board of directors. And we talk about the things that hold people back from achieving the life of their dreams and why sometimes we are our own worst enemy.  

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We are brought to you by exp realty.  Im happy to be a part of exp.  I love that they empower every single agent by giving them their own professional website, a crm and virtual transaction management software and on top of all that they offer the best training in the industry.  If you want to know more about exp, their tools or their unique revenue share program send me an email.  If you want to make more money faster I want to talk with you about joining my team at exp realty.. Send me an email to [email protected]

I hope you are killing it at the game of life.  Every week I bring on someone that i think can add something to your business and life.  Its a strange market out there and the people who are winning are the ones that are adding the most perceived value to the market.  Heres a fact---most realtors look and sound the same and because most  realtors look and sound the same consumers see them as a commodity.  Whats the difference between shell gas and arco gas?  Isnt gas just gas?  Or is there something special about the Shell gas---oh yeah---its shell with techron.  I dont buy arco gas----I pay a little more the the Vpower techron gas.   At the end of the day-----maybe gas is just gas---I dont know if Techron is even real but, that hook has hooked me on the Shell brand for years. 

Does your business have its own version of Techron?

let me take a step back.  Right now----almost every realtor in America is facing the same issues of inventory----which is really astounding that right now the country as a whole has more buyers than sellers.  In the past We have experienced the opposite.  In the great depression of the 1930s and the great recession of 2008----during those times we had more sellers than buyers.  I dont think we have ever seen a time of more buyers than sellers.

And in a time like this we as realtors lose some of our power---some of our glitter.  Now all of the sudden the seller doesnt need your fancy marketing---he knows he can price higher than the last house sold-----doesnt need to do any repairs and is likely to ask for a reduced commission.  Seriously---why does this seller need you?  What do you bring to the table?  What value do you add to the process?  

This is something I ask everyone that I hire and you might not be shocked to hear that most people really havent thought of it.  They never asked themselves what value they add to the deal?  I wonder what your answer might be.  

What value do you bring?  It cant be something generic or some kind of commodity.  It needs to be something unique to you.  What is your Techron?  Thats what we are going to talk about today