What’s happening to the real estate market?

Everything feels calm now but the real estate tsunami is still coming. And by the time it hits, it’s going to be too late to prepare.

How do you prepare for what is coming?

1. Pay attention to your market. Study market statistics, people’s moving patterns, etc. Watch my previous blog about this https://youtu.be/YMYstOHTQiI
2. Pay attention to the real economy. This is not the stock market. It’s about income, consumer confidence, and debt. These impact the cost of living.
3. Get your mind, money, and market strategy ready.
   a. Keep your head in the game even when other people are panicking. Crisis always creates opportunity for those who are prepared.
   b. Be prepared with your money. Sell houses, make money and keep money so you’re financially secure.
   c. Work only with highly motivated clients and price your listings right.

If you want to get the best training on what’s happening (and what will happen) in the market, join me for 3 days of live virtual, interactive training at Agent Mastery Live Virtual 2020. Click here for more details. https://www.agentmasterylive.com/

Get more exclusive real estate agent trainings here 👉 YesMasters.com

Learn How To Get More Real Estate Leads, More Listings, More Sales, with Less Resistance
👉 yesmasters.com/freebook

Kevin Ward is a real estate coach, speaker, and trainer at YESMasters.com and #1 Bestselling author of "The Book of YES: The Ultimate Real Estate Agent Conversation Guide."

If this episode helps you, please LIKE, COMMENT & SHARE. Hit SUBSCRIBE to get notices of new episode! Go to YesMasters.com For more killer training videos for REALTORS who want more Yes's and more Successes in their business and in their life! From Kevin Ward, international real estate trainer, speaker, and coach.

Real estate commissions are 100% negotiable. The usual full service commission is 5-6%. A discount commission is 3-4.5%.

A Flat fee brokerage charges a set fee (a percentage of the sales price) instead of a commission. This is paid upfront whereas full service commissions are paid out of escrow at closing.

Commissions are typically split between the listing broker(seller’s side) and the selling broker (buyer’s side). The broker owns all commissions because he owns the listing. The broker pays the agent his cut of the commission (usually a 70-30 split between broker & agent).

When the listing broker puts a listing on the MLS and offers a cooperative offer of commission, it’s traditionally a 50-50 split between the listing side (3%) and the selling side (3%).

Only licensed agents and brokers can get paid in a transaction.

How are referral fees paid? A 30% referral fee (taken out of the listing side of the commission) goes to the referring broker.

Real estate commissions are worth it because clients are paying for the value of the service that a skilled agent delivers. When a skilled agent nets his client the most money, this more than covers his commission.

Get more exclusive real estate agent trainings here 👉 YesMasters.com

Learn How To Get More Real Estate Leads, More Listings, More Sales, with Less Resistance
👉 yesmasters.com/freebook

Kevin Ward is a real estate coach, speaker, and trainer at YESMasters.com and #1 Bestselling author of "The Book of YES: The Ultimate Real Estate Agent Conversation Guide."

If this episode helps you, please LIKE, COMMENT & SHARE. Hit SUBSCRIBE to get notices of new episode! Go to YesMasters.com For more killer training videos for REALTORS who want more Yes's and more Successes in their business and in their life! From Kevin Ward, international real estate trainer, speaker, and coach.

How do you stay up to date with the market as a real estate agent?

To become a real estate market expert, you need to update and keep track of these 12 weekly statistics.

1. New Listings.
2. Active Listings
3. New Pendings
4. Expired and Cancelled Listings
5. Off-Market and Withdrawn Listings
6. Closings
7. Average days on the market
8. Average list price
9. Average sale price
10. List price to sale price ratio
11. Price reductions
12. How many weeks of inventory

Doing this weekly (and consistently!) allows you to see the trends faster and helps you stay on top of what’s happening in your entire market metro area.

When you understand what’s happening in the market, you can best guide your prospects or clients in making decisions. Because you’re a real estate market expert, they will want to work with you.

You can download the free weekly tracker spreadsheet here https://yesmasters.com/marketstats

If you want more advanced training on this, join me for our upcoming 3-day live virtual event Agent Mastery Live Virtual 2020. Get your early bird ticket here https://www.agentmasterylive.com/

Get more exclusive real estate agent trainings here 👉 https://YesMasters.com

Learn How To Get More Real Estate Leads, More Listings, More Sales, with Less Resistance
👉 https://yesmasters.com/freebook

Kevin Ward is a real estate coach, speaker, and trainer at YESMasters.com and #1 Bestselling author of "The Book of YES: The Ultimate Real Estate Agent Conversation Guide."

If this episode helps you, please LIKE, COMMENT & SHARE. Hit SUBSCRIBE to get notices of new episode! Go to YesMasters.com For more killer training videos for REALTORS who want more Yes's and more Successes in their business and in their life! From Kevin Ward, international real estate trainer, speaker, and coach.

How do you survive the current crisis? You have to take care of these Seven Domains of Life:

1. Feelings. Deal your emotions. Do declarations, associate with people who are thriving in the crisis, and feed your brain with good thoughts. Talk to someone who can help you.
2. Friends & Family. Nurture your relationships. Be more patient with everybody else who’s going through emotional stress like you. Let them know that you care.
3. Finances. Look for money-making opportunities.
4. Faith. Stay true to your faith and what you believe.
5. Focus. Refocus on your goals.
6. Fun. Figure out ways to do fun things with your family and take time out to have fun.
7. Fitness. Find a fun workout to do.

All these 7 domains matter and affect each other. If you want to survive the crisis, you have to pay attention to all these areas of your life because they serve your emotions, well-being, and productivity. Watch out for areas of your life that you need to improve and make those changes.

You can get more training on this when you attend our brand new live, virtual event Agent Mastery Live Virtual 2020. We’ll dive deep into the mindset, systems, and strategies to help you survive and thrive in any situation. Get your early bird ticket here www.agentmasterylive.com

Get more exclusive real estate agent trainings here 👉 https://YesMasters.com

Learn How To Get More Real Estate Leads, More Listings, More Sales, with Less Resistance
👉 https://yesmasters.com/freebook

Kevin Ward is a real estate coach, speaker, and trainer at YESMasters.com and #1 Bestselling author of "The Book of YES: The Ultimate Real Estate Agent Conversation Guide."

If this episode helps you, please LIKE, COMMENT & SHARE. Hit SUBSCRIBE to get notices of new episode! Go to YesMasters.com For more killer training videos for REALTORS who want more Yes's and more Successes in their business and in their life! From Kevin Ward, international real estate trainer, speaker, and coach.

How do you get your seller in a multiple offer situation so that you can sell their house for the most money?

Here are 5 Steps to Creating FOMO (Fear Of Missing Out) With Buyers:

1. Good Price. A good price gets buyers excited because they know that it’s going to go fast.
2. Limit Showings. Limit showings to 20-30 minute slots on certain days and times. (e.g. Fri 4-6pm, sat 11-2pm, sunday 1-4pm). Set up a showing calendar on the MLS or use an appointment-setting app like Calendly with a link that the buyers or agent can click to book.
3. Clear Instructions. In the showing instructions on the MLS, be clear on how to schedule a showing appointment. Give them the link to schedule and then confirm with a text message or a phone call.
4. Easy Appointments. Have a sign rider onto your FOR SALE sign on the house that says, “To schedule an appointment, go to <property website>. On the website, have the scheduling link and other scheduling instructions.
5. Massive Communication. Let the buyers or buyer’s agent know what to expect at the showing appointment.

This is all part of what I train called the10-day selling system that allows you to literally sell a listing for 10 days or less. I’ll be training on this in detail at Agent Mastery Live Virtual 2020. Click here to learn more about www.agentmasterylive.com.

Get more exclusive real estate agent trainings here 👉 https://YesMasters.com

Learn How To Get More Real Estate Leads, More Listings, More Sales, with Less Resistance
👉 https://yesmasters.com/freebook

Kevin Ward is a real estate coach, speaker, and trainer at YESMasters.com and #1 Bestselling author of "The Book of YES: The Ultimate Real Estate Agent Conversation Guide."

If this episode helps you, please LIKE, COMMENT & SHARE. Hit SUBSCRIBE to get notices of new episode! Go to YesMasters.com For more killer training videos for REALTORS who want more Yes's and more Successes in their business and in their life! From Kevin Ward, international real estate trainer, speaker, and coach.