For the 423rd episode of MailRight Show, Robert Newnan talks about how real estate agents should be adaptable and strategic to succeed in a challenging market in 2024. Robert Newman founded InboundREM, the only inbound marketing-focused real estate company in the United States. Jonathan Denwood is the co-founder of MailRight, a CRM and marketing platform that generates real estate agents’ leads through great landing pages, a great website, great emails, and text messaging built into the system.
Effective Time-Blocking
Unless you block off a period each week, like 2-3 hours, for specific tasks, they won’t get done. Of course, if something urgent pops up, you must be flexible, especially in real estate, where things can change quickly. But you still need some rules and know what’s important.
If you don’t schedule time using a calendar system, where you can plan your social media posts and newsletters, along with maybe making some videos, it just won’t happen. You’ll end up rushing everything or missing out. So it’s essential to block off time for tasks like digital lead generation, just like any good real estate coach would advise.
There are many excellent apps out there these days. One we’re looking at as a company is for creating reels. Video will be significant in 2024. However, effective time blocking should also include looking for low—or zero-cost apps that help promote your business. Promoting yourself has two sides: creating content and getting people to see it. Furthermore, you must know how to make social media posts and enter them into a social calendar.
Realtors often get stuck in either creating content or promoting it. So, when you have more time and less money, it’s simple: learn from people who teach for free. It’s strongly recommended that when you have more time than money, you block an hour a day for learning. This way, you teach yourself how to do things and when and what’s the most effective way.
Weekly Quality Newsletter
Adding AI to your newsletter is an excellent idea. Some platforms help agents with AI content, and big Facebook groups greatly promote this idea. But don’t just use AI content when it comes to your newsletter. It’s better to start with AI to help write something, then edit it strongly to make it more unique.
You might wonder what to write about in a weekly newsletter as a real estate agent. You could include the property pick of the week and explain why it’s a good pick. People want to see your knowledge and skills through what you say about properties. You can also discuss the local property market, property-related services, reviews, and interviews. And hopefully, your readers will share the content on their social media.
Now, there’s something essential for those watching on YouTube. Google recently started penalizing websites with low-quality content, especially if it seems just for SEO. They’ve been giving out manual penalties, focusing on content that’s not user-friendly. For example, Rocket, a financial app, got penalized. They have a helpful app that sends emails with market updates.
In your local market, you might notice house prices are dropping. For example, a house listed at $900,000 last year is now $820,000. Many say home prices in California are overpriced by about 25%. This means most people can’t afford to buy a house here. Even with a big down payment, the monthly payments are high. So, it’s an excellent time to sell if you’re thinking about it. Prices might drop by 25%, so selling now could save you from losing profit later. If you were a real estate agent, you could share this update with your clients. Maybe send a video explaining it. This could help your clients understand the market better and perhaps even decide to sell.
Video
Nowadays, video is super important. Everyone uses it, especially these short videos on Instagram Reels. They’re quick and easy to make, and people love them. You can use AI to make them even if you’re not a video expert.
You need to make videos to get noticed on social media, especially on platforms like Facebook, Instagram, and YouTube. These platforms want you to create content that keeps people engaged and stays on their site. Don’t share links to other websites because that takes people away from their platform.
Some tools can help you make short videos quickly. You just film something, let the app process it for about five minutes, and then it gives you a video with cool effects. This is effective for getting views and catching people’s attention. This kind of technology uses AI, which means it’s smart software that helps you edit your videos quickly and easily.
So, to sum it up, if you’re a realtor in 2024, you should be making short videos. It’s one of the best ways to get people interested in what you’re doing. And using AI tools can make it even easier for you.
Objection Sell Script
Pre-planned and practiced open-ended questions are essential to deal with ongoing objections.
This is because you can overdo this and become robotic. But if you’re in a specific industry or have certain services, like MailRight or WP Tonic, you’ll talk to regular people who might be hesitant. People often look for reasons not to hire you in any service job because it feels safer. But when you don’t rehearse how to handle these concerns, you’re not helping yourself. And if you’re good and can help them, you’re not helping them either. You’re both not doing yourselves a favor. You really need to practice this a little bit.
In call centers, people often forget the importance of practicing basic sales talk. This talk is just a simple introduction. Many call centers don’t go beyond the introduction. It’s like saying, “Hi, I’m calling from this place.” They spend a lot of time practicing how they sound because getting someone to agree usually depends on their mood or feelings. Are they speaking in a friendly tone? Are they smiling? Are they making the call sound enjoyable, or at least making it seem that way? So they often practice speaking in upbeat tones and other things like that. The speed of speech, and copying how the other person talks are basic sales things you do when you call someone you don’t know. The speaker loves the idea of practicing these things repeatedly.
Their shifts were much better when they started with “Hot Potato.” This is when they practice dealing with objections they’ve heard many times. Why? Because it’s better to make mistakes while practicing than to fail when it counts. If you have someone supportive, like a partner or friend, you can role-play discussions with them repeatedly until you feel comfortable. This helps you answer questions and objections confidently. They’re not saying you should become a robot, but practicing can make you good.
Salespeople know that they often have to say the same thing repeatedly, which can sound robotic. But just like an actor practices lines, salespeople must also practice how they speak. The words might stay the same, but how you say them can make a big difference. The best salespeople practice saying the same things a lot. The speaker, for example, practices with calls that won’t lead to sales. These calls help them try new things. They make more money because they practice even when it seems unimportant.
If you’re in a slow market right now, staying disciplined is really important. Use this time to learn new things, practice what you already know, and improve. Because when the market improves, you’ll have a chance to make much more money.
Having A Effective Digital Hub And Lead Generation Platform
To be a successful real estate agent, you need your website. Relying on what your agency offers or using a shared website won’t help. You need full ownership of your site. It takes time and money. In the next few years, having your website and tools to attract clients is crucial. Without them, you’ll struggle in the real estate business.
Real estate agents fall into two groups: successful ones and struggling ones. Successful agents, like one making $700,000 a year, usually focus on a small area. They invest in marketing even when they’re making big bucks. Take Diane Williams, for example. When the market crashed, she invested in her website and made millions. Most agents don’t try to improve their resources or websites. Diane succeeded because she invested when others were panicking. Now is the best time to invest in your website. If you’re struggling financially, you can still improve your skills using free tools like MailRight or cheaper ones like InboundREM.
If you’re a seasoned agent, it’s the perfect time to invest in InboundREM. Don’t hesitate. But if you’re tight on money, consider MailRight. Avoid expensive systems or leads like Ylopo, Zillow, or Trulia. They’re risky, especially for inexperienced agents. You might spend a lot without getting good results. In this turbulent market, many sellers are hesitant to sell because they can’t find affordable homes to buy.
Although the market seems profitable on paper, smart investors know it’s inflated. Selling might give you a profit, but finding a new home at a reasonable price is tough.
None of us knows what will happen because of what’s happening internationally. With all this uncertainty, about 30 to 50% of new agents are willing to give up their licenses by the end of the year. The smartest among these agents will be the ones to stop delaying, read blogs, earn for free, make reels, and save money. If things get tough, companies will stop spending, just like any other business owner would. Even though it’s hard, you can’t blame tech companies for cutting back during what they see as a rough time after a reasonable period. That’s just how business works. So keep learning, learning, learning.
