What Does It Take to Sell Real Estate?
Who should listen: Regardless of your profession, if you need help balancing a busy work schedule with an equally busy life, then this episode offers straight-up advice about what it takes.
Key idea: If you need something to happen, then you’re going to need to plan for it.
Action item: Whatever that one thing is that you want to do to feel better, whether it’s exercise, eat better, meditate, or something else, take action and do it.
This week on Stay Paid, Kirsten Jordan shares her experience of being cast on Million Dollar Listing, how she manages to balance her demanding work schedule with her family life, her desire to find a publisher for her new book, and her advice about what it takes to sell real estate. When you listen to her interview, you can’t help but be impressed by all she’s achieved, and she’s very candid about how she’s done it all.
Here in the show notes, we’re going to focus on what Kirsten has to say about relationships, lead generation, and competing against mega brokers. What she says will likely be familiar to our listeners, except this time the advice is coming from an in-the-trenches, bona fide, uber-successful celebrity agent. If that isn’t credible proof that what we advocate really does work, then we don’t know what is.
1. It takes building and nurturing relationships
When other agents and brokers heard that Kirsten had been cast on Million Dollar Listing, they all told her that her new celebrity status would have people knocking down her door, begging her to be their agent.
But as she says, “It doesn’t work that way.”
Kirsten readily admits that being on the show did open some doors that allowed her to initiate relationships with people she may not have otherwise met. But she also quickly says that you still have to do the job.
Building a brand is intimately tied to building relationships, and that takes time. It wasn’t for another two or three years after joining the show—years she spent nurturing the relationships she had formed because of it—that she began to experience the lift in her business. Even then, Kirsten is hesitant to say there was a direct cause and effect. What she does say is that being herself, working on relationships, and knowing her business came together to make things happen.
2. It takes accepting every opportunity
Kirsten’s advice to new agents is to take every opportunity and accept every lead that will get you doing the work of real estate.
She advocates using inbound leads, multiple lead sources and services, paying referral fees, and incentivizing when possible. In her words, “Put as many balls in the air as possible.”
The most important task is to get your brand out into the marketplace and accept every chance to see the market inventory. Her third lesson explains why.
3. It takes knowing the market better than anyone else
We’ve heard many times before that there is no magic formula when it comes to succeeding in real estate. The closest you can possibly get to instant gratification is to know everything about your market so well that once you get a lead, your prospect has no choice but to select you as their agent.
And the way you accumulate that kind of knowledge, Kirsten says, is “personally and physically experiencing real estate.” This is why accepting every opportunity as discussed above is so important to your ultimate success as an agent.
For Kirsten, having that breadth and depth of market intelligence and the anecdotal information you collect is what will allow you to get your clients more money. A mega broker like Zillow—who will never have access to that street-level, property-by-property knowledge—couldn’t price a home any higher. Luke compares this difference to using a GPS to get you to the top of Mount Everest or a Sherpa who has physically made the trip a multitude of times with a multitude of people under a multitude of conditions. The choice is obvious.
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