3 Steps for Standing Out From the Competition

There are three things you should be doing differently to stand out from the competition.

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There are three things you should do each and every time you talk to a client in order to stand out from the competition and ensure you get their business.

Jordan Belfort - the subject of The Wolf of Wall Street - did a training session and these were the three things that I pulled from it as impeccably important to me in how we engage people. Remember, we're in a commission-based business, so we have the opportunity to thrive versus merely surviving. By doing a couple things differently, we can make all the difference.

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Doing these three things better will make all the difference.

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An interesting statistic from the National Board of Realtors tells us that out of 14 brand-new agents that come into the market, 13 won't remain in two years, and I think that's ridiculous. People that are young and energetic and want to help people at a high level should be taking business from people who have been in the business for a long time, just because they want to serve at a higher level. By being an authority and coming forth differently, you end up getting more business than sometimes you can even handle.

Here are the three things to consider every time you're talking to somebody:

1. Be as enthusiastic as you can possibly be. Enthusiasm shows that you have confidence, you know what you want, and you know what you're doing. It shows you're here to serve and help.
2. Be sharp as a tack. Make sure you know what you're talking about, even if you're not ready. Be able to find any info you don't have and quickly deliver. You're getting things done and overcoming the hurdles to serve at a high level.
3. Be a force to be reckoned with. Recognize that you're an authority. You're going to have the knowledge, the information, and the details. You're the person to go to - there's no reason to go to the competition or other agents, because you're that one who wants to serve the client and provide a world-class customer service experience.

I hope this information helps you thrive and make the most of your business. If you're looking to become part of a team, let's talk. I'm happy to talk to you about all we have to offer.

What Sets You Apart From Other Real Estate Agents?

Every month, the board of Realtors runs numbers predicting how many new agents will enter the market.

Consider this: the Salt Lake City Board of Realtors runs numbers every month predicting how many agents are going to be in the market. Usually, they’ll say 30 new agents are expected to join the market next month.

However, in the last four months, we have seen 120, 130, or 135 new agents entering the market. Those numbers are huge! You need to stand out from the competition. You need to know your unique selling proposition. Here are a few questions to ask yourself in order to figure out your unique selling proposition:

• What is your unfair advantage? 
• Why should you be taken seriously? 
• What makes you different?
• What is the one thing you dominate? 
• What are you doing to show that you are here and that you are staying in this business? 

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What sets you apart from the competition?

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So, how are you different from all of these new agents? Why should people give you their business? You need to figure it out in order to succeed in this market.

If you have any questions for me, give me a call or send me an email. I would be happy to help you.

The Craft of Real Estate

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In order to really make this business your own, you need to be more than the person people think of when they think of real estate. They need to think you are the expert, their advisor, and the one person to go to for their real estate needs.

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Master the craft of real estate.

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In this business, you need to be a student of the business. You need to go above and beyond so you can become the master. In short, you need to approach real estate as a craft. What does “craft” mean?

C is for commitment to mastery. You need to commit to learning and growing.
R is for reading. Reading 10 pages a day allows you to finish a book every month and a half.
A is for attending seminars. Travel. See what you can learn from people outside of your area.
F is for finding mentors. Find someone to help you grow and progress.
T is for techniques. Master your techniques and systems so you can deliver world-class service to your clients.

There is a documentary on Netflix right now called Jiro Dreams of Sushi. I highly recommend that you watch it. Seeing how dedicated Jiro is to perfecting his technique will make you think about what kind of experience you are delivering to your clients.

If you have any questions, give me a call or send me an email. I would be happy to help you!

Which Leads Are Most Important?

When people pay for online leads, it can get expensive and it's not better than any kind of lead.  If you’re prospecting on a daily basis, you’re essentially doing the same thing. You are participating in dollar-producing activities. When looking at contacting leads, I think there are a few things that are very important:

1. The speed of the response.
Speed trumps content every time. Sometimes we get so caught up in specifics that we don’t get back to our leads in a timely manner.

2. The method you’re communicating with.
What we have found is that texting is actually one of the best ways people communicate. People don’t pick up their phone because they don’t recognize the number and they don’t check their email. The speed of delivery is important.

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Speed trumps content every time.

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With online leads, the biggest and best agents in the country are closing at about a 4% to 5% rate, which is double the national average. You’ve got to go through a lot of leads to find the best ones, but when you do get the leads, it’s because 35% to 50% of people will work with the first person they talk to, which should be you!

If you have any questions for me at all, feel free to give me a call or send me an email. I would love to hear from you.

Setting Expectations With Clients

Today, I’m talking about setting expectations.

Since we’re so accustomed to real estate transactions, the process becomes second nature. It’s sometimes easy to forget clients, especially first-time home buyers, might not have the same expectations as we do. That’s why we have to set the tone for them.

We do a touch program where we reach out to a client once a week. You need to pick a method that works for you. Not only does this communication provide a world-class customer service experience, but it speaks to them. While they might see you as a tailored professional, you need to set those expectations ahead of time.

For instance, one time my wife and I were getting ready to go out. I was in a hurry. All of a sudden, both of us are in the car and my wife goes, “Where are we going?” Don’t let this happen to your clients!

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Clarifying expectations will reduce problems later on.

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For instance, if a property needs an inspection, create a list of what clients need to be aware of. This could include future steps after an inspection is completed or a list of repairs that need to be addressed. Tell them about everything that comes afterwards: appraisal process, financing, etc. Provide information in advance so clients review it and ask questions, so they know where they’re going.

Clarifying expectations will reduce problems later on. It’ll also help your clients appreciate you even more than they already do. Setting the tone benefits everyone involved.

If you have any questions about today’s topic, or anything else, give me a call or send me an email. I’d be happy to help you!

Justin Udy & Team Real Estate Consultants Are Hiring!

We’re looking for motivated, driven, hard working, and success-hungry individuals to fill our team. We want people who want to make a career in real estate.

No experience is required, but candidates in the industry who want to step it up a notch are preferred. However, if you have no experience, we would still like very much to talk to you about this opportunity.

I was closing 40-50 transactions when I brought in my first buyer specialist, and we’re on target for more than 200 transactions this year. It’s going to be a fast-paced environment, and you must be willing to work and continue learning.

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It’s going to be a fast-paced environment, and you must be willing to work and continue learning.

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We have streamlined the process. We have lead generation systems in place, we have a follow-up system, and we have administrative staff so that you can focus on dollar-productive activities. This allows you to reach the highest level of success.

We’re also looking for the following people to fill these positions on our team: Showing agents, listing and buyer specialists, and managerial help. 

If you know anyone who might be a good fit for our team, please don’t hesitate to share their name with us!

The Importance of Representing Your Client Well

Today, I’ll discuss representing your client and doing the best you can for them.

Earlier in my career, I used to get so preoccupied with getting my clients the best deal that I would push them away from great opportunities. Sometimes, these clients would keep renting, buy a car, or make a similar investment, but they never became a homeowner. That’s something I deeply regret. Because I was focused on a bargain, these clients missed out on why they came to me: to buy and own a home.

We sometimes have to have tough conversations to represent our clients. In a competitive market like today’s, you might need to dig deeper beyond just price range. You might need to ask how much over list price makes sense.

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Let’s commit to solving problems proactively.

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Rent rates are growing. If you rent a property for more than 1.8 years, you would spend as much as buying your own property. If you plan to live somewhere for that long, you might as well use your investment to purchase a home of your own.

Additionally, we need to serve clients to the best of our abilities and talents. We need to follow through with due diligence, run the values, and take care of their needs. Sometimes, we get so nitpicky and make mountains out of molehills. This causes us to kill deals instead of working through minor discrepancies. Instead, let’s commit to solving problems proactively.

If you have any questions about today’s topic, or anything else, give me a call or send me an email. I’d be happy to help you!

Build Long-Term Wealth in Your Real Estate Career

Today I want to talk to you about being your own best client. In your quest to become the best agent you can be, you’re prospecting, following up on leads, and negotiating contracts. We spend a lot of time doing things to be more productive but we also need to sit back and look for opportunities to build true wealth. 

As you’re working to become a great agent, you have probably stumbled across an amazing deal. Immediately, you think of three other people who would be a perfect fit for this property without even considering that this may be a fantastic opportunity for you. You can buy the property and sell it at a higher price or lease it out in order to build some long-term wealth.

This business is truly amazing. Some of my best deals have been from properties that I’ve purchased through other agents. Sometimes these agents priced the property incorrectly or didn’t understand how to utilize the property. I’ve developed properties, flipped properties, and more because I take that one step back every day and ask, “How can I build wealth today?” 

When you ask potential sellers to describe their property, don’t just do it to prepare for the listing consultation. Ask yourself if this property might be a long-term asset for you and your family.

If you have any questions about today’s video, give me a call or send me an email. I would be happy to help you!

The Advantages of Working with Our Team

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Today, I want to go over the advantages of working with a team. As a solo agent, one of the biggest struggles I faced was juggling everything. I had a problem focusing my energy on dollar-producing activities. That is one reason why the team structure is such an amazing asset.

First of all, you get constant consistent leads coming your way. These folks are reaching out to you on a daily basis looking for help, and your business should be readily available for them as a resource.

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We are committed to education, training, and coaching.

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Not only that, but expenses are eliminated. You don’t have the same costs as an individual agent. The national average for a single agent is four to six homes sold a year. Locally, the average is eight to 10 homes a year, but a huge portion of that is taken up in marketing or brokerage expenses.

We take care of the marketing for you. We have marketing systems in place so you can spend your time making money. We also have buyer satisfaction agreements that makes it easy for buyers to work with us.

My team provides full support. We are committed to education, training, and coaching to make sure you know what to do. We want to help you become a real estate expert. We will provide all the tools you need so you don’t lose a buyer or seller anymore, and you will be able to provide world class customer experience.

If you have any questions or are interested in joining our team to develop your real estate career, give me a call or send me an email. I would be happy to help you!