Fixing What’s Wrong with the Real Estate Industry

Real Estate Education: The Critical Need for Better Real Estate Training

Altering the public’s generally negative perception of the real estate industry and improving clients’ satisfaction will require that agents acquire a higher level of skill.

In this week’s episode of Stay Paid, we speak with accomplished real estate agent Deborah Morton. Deborah’s company, Clareo Real Estate in Marietta, Georgia, stands out from among many, having achieved a remarkable $65M in transaction volume in just two years.

Much of our conversation with Deborah concerns the many challenges within the real estate industry—issues such as lawsuits on commissions, problems at the National Association of Realtors® (NAR), and a concerning statistic recently reported by Inman that 49% of agents completed only one or zero transactions in 2023. In response, Deborah emphasizes the need for agents to prioritize training, skill development, and intentional actions if the industry is to elevate its overall standards.

To help, she shares valuable insights into her approach to training new agents, highlighting the significance of daily routines, time management, and continuous learning. An agent, she says, should be spending their days prospecting and serving clients. And if they aren’t doing those things, then they should be engaged in training and enhancing their knowledge. (She gives some excellent examples of what exceptional agents need to know to showcase their professionalism and win clients.)

When we ask Deborah about her marketing strategies, she shares that her focus is relationship building. Producing educational content that speaks to her target audience is one key to this. But she stresses that a balanced mix of marketing efforts, such as phone calls just to ask how someone is doing and always offering and being available to help (in short, being personal and authentic), is how people come to know and trust you. If they do, when a chance for a referral comes up, they will readily refer your name.

Given Deborah’s success, we also asked what she thinks is most difficult about growing a real estate business. While she notes there are many challenges, she suggests that learning how to run a real estate business like a business is perhaps the most difficult yet also the most paramount. Knowing how to budget as you scale up—focusing not just on commissions but on actual net income, profitability, and projections—and acknowledging the typical overspending on the next “shiny object” are the conversations that she believes the industry should be having more of.

In the end, Deborah believes success comes from investing in education and continuous improvement, adopting effective marketing strategies, prioritizing training, and approaching real estate as the business it is. Her wisdom, experience, and proven success can serve as a guide for agents looking to navigate challenges, elevate their professionalism, and ultimately thrive in the dynamic world of real estate.

We hope you enjoy this episode and act on the advice Luke offers at the end. We’d also appreciate it if you took a moment to leave us a 5-star review and comment on Apple Podcasts. (We read them on air!) Thanks for listening!

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