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Tom Ferry: ‘The NAR settlement is a once in a lifetime opportunity!’

Tom Ferry: ‘The NAR settlement is a once in a lifetime opportunity!’

At Inman Connect Las Vegas, July 30-Aug. 1, 2024, the noise and misinformation will be banished, all your big questions will be answered, and new business opportunities will be revealed. Join us.

There will be winners and losers due to the changes coming to real estate. In this interview, Tom Ferry breaks down the mindset and scripts agents need to know for success in the post-National Association of Realtors settlement era.

“I’m three decades into this business,” Ferry said. “This is a once-in-a-lifetime opportunity! No different than when you look back over the history of all great businesses, most of them started during recessions, depressions or moments of change. This is not a recession or depression, but it is a moment of change.”

So, if your mindset is that this is the single greatest time to be alive because I have a ton of value to deliver, I love serving customers, and I am a great problem solver, you’re going to love this market. But if you got too comfortable in 2021 playing pitch and catch, and constantly being thrown the ball, even if you whiffed and you thought you had skills, this market will be a challenge for you.

Gary Keller said it best: “We’ve gone from a speed market to a skills market.” If you can make this transition and develop your skills, you’re going to be just fine.”

After the initial conversation on mindset, we dove right into one of the most common questions sellers have right now. The following are specific scripts he shared that can be put into practice immediately.

Seller: ‘I hear I don’t have to pay the buyer’s side commission anymore. Is that true?’

This is the role-play scripting Ferry discussed when agents receive the question above: “So I’ve had a number of homeowners mention this; tell me what your perspective is on what you’ve heard.” The potential seller says something like, “Well, I’ve just been hearing on the news that things have changed and I don’t want to pay for the buyer’s agent’s commission if I don’t have to.”

Ferry then continued, “When you go deeper into those articles there is a lot to unpack. The first thing I would ask is, ‘What’s most important to you? Is it the highest possible net or is it the fee that we charge?’” (The owner answers “highest possible net,” of course.)

Knowing that the highest possible net is your main goal, if I could get you the highest possible net without paying the buyer’s side commission, you would be interested in that, correct? [Owner answers yes] I would be too, but in my [however many] years in the business, I have yet to see one play out that way.

It’s more likely in a market like this and with a magnificent home like yours that we will have a lot of interest in your home, but if we don’t use the most important tool in all of business then we won’t be able to maximize your net. You know what that tool is? It is an incentive.

You mentioned earlier that you are a schoolteacher and I’m sure you’re a great one. You understand as a teacher that after a certain amount of time you have a very special incentive. That incentive is tenure. But you also have that pension or retirement fund as an incentive as well. If that tenure, or pension were suddenly removed, do you think we would have as many great schoolteachers as we have now?

Ferry then said, “The key is to always use examples that the average person can relate to, and everybody can relate to compensation, getting paid and incentives. Understanding this, share stories the person you are communicating with can relate to in their own life.”

Protip

Ferry then encouraged agents to take the time to review their local MLS to see what percentage of homes are currently listed for sale north of their local average. He mentioned he had looked at the Colorado Springs, Phoenix and Atlanta markets, markets where Zillow kind of goes to test things out, to see if there was a trend happening regarding not offering buyer-side compensation. He said in those three markets that, as of now, fewer than 1 percent of listings are offering 0 percent buyer’s side compensation.

He said, “We know it will be zero come Aug. 17, so this is something you can utilize up to Aug. 17 or a few weeks after. But knowing the numbers in your local market now can provide insight into how to educate your potential listing on the current environment for your local market.”

This is how Ferry suggested communicating this with the seller,

So I took the time to look at the data in our local MLS. I pulled out all the homes that were sold in the last 30 days and all the homes currently listed for sale. Let me show you what I found. As you can see here, roughly 95 percent of all the homes currently for sale are offering an incentive of buyer’s side commission for the more than 20,000 agents in our marketplace to bring their buyers to those properties.

So, I guess one of the questions we must ask ourselves is if our aim, as you mentioned earlier, is to get the highest possible net proceeds from the sale of your home, then in my study of business there has never been a path through cutting costs that anyone or any business achieved the type of record-setting results they wanted. What they did instead is to offer as many incentives as possible to receive the result they desired.

Based on 95 percent of our competition offering buyer’s side compensation, do we want to disincentivize 95 percent of the market and focus on 5 percent? Or do we want to get 100 percent of the buyers in the market looking at your home to allow me ultimately to negotiate the highest possible net price and terms for your home?

The dual agency question

Ferry said another big question in a market that is hot is that the seller might say “I’m okay if you represent the buyer; I just don’t want to pay the buy-side commission.” Ferry shared his opinion and script for answering this question with the potential for dual agency (always being mindful of your state and brokerage rules regarding dual agency).

After being in the business [however long you’ve been in the business], I’ve found that it is always in the best interest of the person hiring me today, which is you, that I am not put in a position of negotiating against you with a buyer. Maybe there’s the rare occasion where a couple is getting divorced and they can hire one attorney, but I’ve not seen one in my lifetime.

In almost every case, you need someone to represent you and to make sure they are negotiating on your behalf. So, if I were to procure a buyer who was unrepresented and hadn’t signed a buyer broker agreement with someone else, let me explain what I would do. I would give the buyer to another agent in my office because my job is to serve you, and if I’m serving two masters, guess who I’m ultimately serving: myself.

I’m not here to just list and sell your home. What I want at the end of this transaction is your five-star review. I want you to tell people about how I was able to stop all the problems and make this as easy and stress-free as possible for you. I ultimately want to earn multiple referrals from you because you can’t help but tell others that they must use me because of the great experience you had. I just don’t know how that can happen representing you and the buyer of your home.

The key to all scripting is to mold them into your own voice. Remember, the scripts Ferry shared will only work in your business if you put them into practice. Take full advantage of the opportunity this change has created, and your business will never be the same.

Jimmy Burgess is the CEO for Berkshire Hathaway HomeServices Beach Properties of Florida in Northwest Florida. Connect with him on Instagram and LinkedIn.

30 years of brutally honest business advice in 1250 words

30 years of brutally honest business advice in 1250 words

At Inman Connect Las Vegas, July 30-Aug. 1, 2024, the noise and misinformation will be banished, all your big questions will be answered, and new business opportunities will be revealed. Join us.

There are winners and losers in every market cycle. Throughout my career, some of the toughest words to hear were the most impactful in getting my business back on track. Here are eight of the brutally honest observations and advice that shaped the successes I’ve achieved.

1. You’re acting like an indoor cat

Indoor cats are confined to a controlled environment. They wait for someone to feed them. They are generally lazy, temperamental and, typically, don’t play well with others.

Outdoor cats on the other hand have the freedom to roam and to live adventurous lives. But with all that freedom, they understand that if they are going to eat, it will be a result of their efforts. They don’t sit around waiting for someone to feed them or take care of them. They take action to get what they want and need.

The pandemic market, and the ease of the business during that time, created a lot of agents who act like “indoor cats.” We can all drift in that direction at times. The key is to not settle into a business where you are waiting for things to happen. If you want different results, do different things, and take massive action.

2. Shut mouths don’t get fed

Ours is a business built on having real estate-related conversations. The person who has the most business conversations wins. So, if your business is stalled or down, simply have more conversations, and your results will begin to change.

This is not something that can be done in a single day or in spurts. It is consistently having these conversations day in and day out with your past clients, sphere of influence and prospects that will lead to your success. Set a daily goal and track the number of these conversations you have. By doing so, your results will improve.

3. You are reaping what you’ve been sowing

The law of sowing and reaping states that your current situation (what you are reaping) is the result of what you did in the past (what you sowed). The key to this law is to understand three main principles:

You reap in a different season than you sow

Seeds take time to germinate, grow and, ultimately, to produce fruit. You may not be able to control what you are reaping today, but your future success is dependent upon the seeds you plant today. Sow bountifully today and you will reap bountifully tomorrow.

You reap a multitude of what you sow

Reaping is a process of multiplication. One kernel of corn planted has the potential to produce a stalk with multiple ears of corn containing hundreds of kernels. Your efforts will result in exponential results if you put forth the effort and are diligent in nurturing the seeds you plant.

Others will reap what you sow

We all have basic needs, but this business provides us with the opportunity to earn an income that is beyond our needs. This is the driving force, or “why,” that allows most successful agents to continue to grow their businesses.

This business gives us the opportunity to provide for our family at a level most people are not able to achieve. It gives us the ability to donate to worthy causes or to support those in need. If you sow properly, yes you will reap a reward, but others will as well.

4. The market is tough, but you’re playing soft

Grit is always underestimated. There are winners and losers in every market. It is when the market changes and things get a little tougher that champions emerge. Yes, the market is tougher than it has been, but are you softer than you’ve been in the past?

Do you still wake up with a burning desire to help your clients? Do you quit when things are more difficult, or do you double down on your efforts? The grittiest agents will not only survive, but they will also thrive and emerge as the top agents in their local market for years to come.

5. If you’re not known as the expert for a particular neighborhood, you’re not an expert

I’m speaking specifically about geographical farming. I don’t know of a single highly successful agent who doesn’t have at least one geographical farm area where they are known as the expert for that community.

If you aren’t sure how to identify an ideal neighborhood and then how to market to that farm area in a way that generates consistent listings, check out this article: A never-fail, step-by-step blueprint to consistently find listing leads.

6. The market doesn’t care what you don’t like

Don’t like shooting videos? Buyers and sellers don’t care, and they will just find your competitors via the videos they create since 82 percent of all internet traffic is expected to be video by 2025. 

Don’t like hosting open houses? That’s fine, remember, though, that buyers love them. They will just meet your competitors and decide to work with them at the open house they host.

Don’t like circle prospecting, door knocking or posting on social media? The market doesn’t care.

Growth and comfort cannot coexist. Get uncomfortable. Push past your fear and act on the strategies you know will help your business. Everything you want your business to become is right on the other side of your comfort zone.

7. Your business isn’t growing because you aren’t growing

Your business can only grow at the pace with which you are personally growing. What new skill have you recently learned? What lead generation or negotiation strategy have you recently studied to become better? When was the last time you read a book that expanded your abilities? 

Developing a personal development plan for yourself will lead to consistent business growth. I like to have a main focus area each month. By doing so, I have the ability to develop or enhance twelve specific skills each year.

An example of this might be a monthly goal of learning how to effectively geographically farm an area. This would involve weekly goals of watching a certain number of YouTube videos, listening to audio podcasts or reading a book on the subject. I might then rotate the next month to negotiation skills, social media marketing or any other area in which I am interested in developing myself.

When you’re growing personally, your business growth will follow.

8. There is another level for your business

Whether your business is barely surviving or thriving right now, there is another level of success available for you. If you’re struggling or you’ve plateaued, think back to the last time you had momentum. What were you doing in terms of prospecting? What was your daily routine? Who were you surrounded by? What were you focused on?

By recreating the successful environment you were operating in and the activities you were doing, momentum will again begin to build.

If you are having success, don’t settle. Keep growing. Keep learning. Keep finding ways to serve your clients at a higher level. Congratulations on your success but remember that your capacity to serve others has not capped out. The best is yet to come!

Jimmy Burgess is the CEO for Berkshire Hathaway HomeServices Beach Properties of Florida in Northwest Florida. Connect with him on Instagram and LinkedIn.

7 things top listing agents know before every listing appointment

7 things top listing agents know before every listing appointment

At Inman Connect Las Vegas, July 30-Aug. 1, 2024, the noise and misinformation will be banished, all your big questions will be answered, and new business opportunities will be revealed. Join us.

Success leaves clues, and the best listing agents prepare by knowing seven things before every listing appointment they go on. These items provide insight and a sense of preparedness that leads to a higher close rate percentage from listing appointments.

If you’re looking to have complete confidence walking into your next listing appointment, this article is for you.

1. They know about the homeowner

Top listing agents do their homework on the homeowners they will be meeting with. If they already know the homeowner, a quick scan of their social media can provide them with information about recent life events, vacations, job changes, or new hobbies.

If this will be their first time meeting the homeowners, a Google search and investigating their social media are where agents find a lot of information about the prospects prior to the appointment. Information about a recent engagement (or divorce), a new job (or recently lost job), or a new baby (or a recent graduation) helps the agent prepare for the appointment.

By asking in the appointment about a recent vacation or celebration the prospect documented on social media, they develop rapport and connection with the homeowner faster than they might otherwise be able to.

Top agents also understand most homeowners will do a social check and Google search on them before the appointment as well. Based on this I would challenge you to look at your social media to make sure your posts authentically represent who you are.

Also, do a Google search on yourself. Make sure your Google Business Profile is active, accurate, and inviting for prospects.

If you’re wondering how to optimize your Google Business Profile, check out this article: Optimize your Google Business Profile to elevate your brand

2. They know the history of the house

Before the appointment, top listing agents research the history of the home. They know when the current owners purchased it. They’ve read the MLS descriptions of the home from previous sales to research who the original builder was, if any previous owners did renovations, and also if there are any highlighted features of the home they should know about prior to seeing the property.

The ability to share the historical sales information and builder details during the listing appointment exhibits professionalism to the seller that breeds confidence in you as the agent — and potentially earns their business.

3. They know the overall local market trends

Trends provide intel on not just where the market is today but where it is headed. Are days on the market increasing or decreasing? Are prices moving up or pulling back? Are there more or less homes for sale than there were two months ago? Understanding the trends is one thing, but communicating how these trends affect the homeowner and how they can use them to their benefit is where agents provide true value.

Always remember, stats tell, but stories sell. Be prepared to share with the seller how you plan to utilize the understanding of these overall market trends to position their home to sell quickly and for the highest price possible.

4. They know the comparable sales and active listings

The comparable home sales and similar homes currently for sale are the most important factors when it comes to the pricing, positioning, and marketing of the home. Top listing agents study the recent sales. They research the sales factors for the most recent sales of similar homes. They know if the homes their listing will be competing with have recently reduced their price or are offering buyer incentives.

The ability to not only present the numbers but also share a pricing strategy, based on facts, that the seller believes in makes all the difference.

5. They know their unique selling proposition

What is it that makes you different from every other agent? Top listing agents easily communicate what sets them apart and why sellers should list the home with them. Do you have a large database of buyers? Do you provide professional videos for each of your listings? Do you host amazing open houses or have a unique marketing plan?

The key again is to understand how your unique selling proposition benefits the homeowner. When you’re able to tell them how you’re different and how that difference benefits them, you will earn more listings.

6. They know how they will market the home

Top agents walk into listing appointments with a concise and clear marketing plan for the home. It’s one thing to tell a seller how you will market a home, but the next level is to show them. Top agents come prepared with a marketing plan for the home, along with examples of marketing from previous listings.

They show the prospective listings examples of videos, marketing pieces, and social media posts they’ve done for other listings. They show results from the open houses they’ve held. They come to the listing appointment fully prepared to share a marketing plan that provides the homeowner with a clear understanding of what they will do to get the home sold.

If you’re looking for a way to utilize A.I. to lock down a marketing plan that sellers will love, check out this article: The ‘Chick-Fil-A on Sunday’ ChatGPT Listing Presentation Blueprint

7. They know their worth and what they are not willing to do

Early in my career, I would walk into listing appointments wanting to take a listing so bad that I would agree to things I knew were not beneficial to the seller or my business. I would take listings with reduced commissions, even though I had no intention of doing so when I walked into the listing. I would agree to do advertising the seller wanted, which I knew wouldn’t work, but I wanted the listing so badly that I agreed to do so. Eventually, I learned the most valuable word a professional has: No.

Over time, I gained experience and an understanding of the value I bring to the seller. I developed a track record of getting results, and I understood that my listing plan, along with a proper pricing strategy, would result in the sale of the home. It wasn’t that I was rigid and unwilling to negotiate, I just knew what I was willing to do and what I was not willing to do even if it meant not getting the listing.

Top agents have a self-awareness that leads to more sellable listings. They let their yes be yes and their no be no. By doing so, they understand that if they lose a listing due to it not being in line with their personal business guidelines, then they are fine not getting it.

There is another level for listing appointment conversion and preparation is the answer. Your preparation not only leads to your own confidence but also in the confidence the seller has that you are the listing agent they need to get their home sold. Be prepared and watch your listing conversion rate soar.

Jimmy Burgess is the CEO for Berkshire Hathaway HomeServices Beach Properties of Florida in Northwest Florida. Connect with him on Instagram and LinkedIn.

5 totally fixable reasons smart real estate agents underperform

5 totally fixable reasons smart real estate agents underperform

At Inman Connect Las Vegas, July 30-Aug. 1, 2024, the noise and misinformation will be banished, all your big questions will be answered, and new business opportunities will be revealed. Join us.

Sometimes what we view as a strength ends up being a weakness. It isn’t always the smartest agents that win, but the ones who execute efficiently who become the local market leaders. I’ve noticed five reasons smart agents often underperform and, in this article, I’ll share how small adjustments can lead to big wins.

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1. They have too many goals

The first reason smart agents often underperform is that they have too many goals. By dividing their attention between several things, they end up not completing what they start or doing anything at a high level. Smart agents are always evaluating their businesses, which leads them to see several things they can improve. The key is to prioritize and focus on one thing at a time.

This process starts by making a list of activities, systems, or initiatives you want to implement in your business. Then rank them from the most valuable to the lowest priority initiatives. Set a goal to complete the highest priority within a specified time. Do not start on your second priority until the first one is completed.

For me, I keep 12 systems or initiatives I want to implement in the next 12 months. I implement one per month. I also add another one to the list as I complete one. I then reprioritize the 12 each month. By ranking them, you focus on the most important next steps for growth in your business.

When we focus on less, we set the stage to be able to do more.

2. They don’t have a North Star for their business

Metaphorically speaking, a North Star for your business is the main purpose or goal you have for your business. It is a guiding goal that helps you to stay focused when distractions or even opportunities come.

For this example, let’s use a goal of helping 48 families buy or sell a home this year as the “North Star.” Anything you consider doing during business hours (whatever those are for you) should be run through the filter of whether it will help you reach your goal of selling 48 homes or if it will hinder you from reaching the goal.

For example, if you are asked to chair a committee for your local MLS, how would you answer? The answer might be different for different people, but ask yourself if chairing the committee will help you achieve your 48 homes sold goal or distract you from it. If your answer is that it will help, then do it. If the answer is that it will distract you and hinder your achievement of that goal, then the answer should be “Not this year.”

Also, remember that anything you say yes to, whether that be time or money, should lead to you eliminating something you are currently doing. Anything you say yes to means you are saying no to something else. Keep that in mind as you decide how every decision lines up with your “North Star” goal.

3. They consume more content than they create

We live in a world where mindless scrolling has become the norm. Whether it be videos on YouTube, TikTok videos, or Instagram Reels, most agents spend way too much time-consuming content and way too little time creating content. Search Logistics recently reported that the average person spends two hours and 24 minutes a day on social media in 2024.

As a consumer of content, it should be alarming how much time you might be wasting every day. As a creator of content, you should be extremely excited about the captive audience you have available. The ability to passively prospect through creating video content has never been more readily accessible.

I believe there is a tipping point when building your personal brand. When you can achieve an average of eight hours a day of people consuming your content, you essentially have passive prospecting working full-time for you. Here are a few personal examples to show you how I  build my personal brand as someone who helps agents build their businesses.

This is an example of an Instagram green screen Reel I published where I discussed the video I produced with 30 ways to generate listing leads. At the time that I am writing this, the Instagram Reel referenced below was published four days prior. The watch time at the bottom of the analytics shows that it has been watched for four hours and two minutes in the last four days. This breaks down to roughly an hour of passive prospecting for my personal brand from just one video on Instagram over the past four days.

The next chart is from YouTube analytics for the video that accompanies this article. In the first 35 hours since that video went live, it has been watched 34.4 hours. This means that nearly every second, over the past 35 hours, someone has been watching this video. In turn, that means this one video has been passive prospecting for my personal brand nearly every second.

Yes, it will take time to build your following, but it will be worth it. To help the number of people you want to help, you must start creating more content than you are consuming.

4. They do not control their schedules

Agents who underperform are reactive instead of proactive. They don’t control their schedules, and their days are filled with wasted time. The best agents I know control their schedules.

They have specific times each week designated for prospecting calls, reaching out to past clients, and honing their skills through training. They regularly review their goals to see if they need to add additional prospecting time if they are behind on their goals.

Now is the time to evaluate how you can organize your day in a way that increases your productivity. Here are a few things you can do:

  • Begin by preparing a to-do list for the next day before you go to bed at night.
  • Set a specific time every day that you make outbound prospecting calls.
  • Schedule time to produce video content.

When you become proactive in controlling your schedule, your future business will be much better than it has ever been.

5. They don’t hire assistants

One of the biggest reasons agents underperform is that they allow their desire to control everything keep them from delegating activities to an assistant. For you to build the business you desire, and to serve the number of clients you should be helping, you will need to hire assistants.

For years, I spent countless hours loading my own videos onto YouTube. I’ve always created and distributed all my own social media content as well. Finally, I realized I could be doing higher priority activities for my business, so I found a company that finds virtual assistants in the Philippines who can help with all these tasks. Not only does the VA I hired help me, but she’s also much better at it than I am. This has freed me up to do higher-value activities and, because of her expertise, I’ve seen my account grow faster than ever before.

So, what are the lower-value tasks you do in your business? Would hiring a transaction coordinator free you up to generate more business? Would a virtual assistant scheduling your social media content give you the opportunity to list more homes and have more time? Delegation is the key to your next level of success.

Execution always trumps education. Become an agent of action. Set lofty goals and set them as your “North Star.” Create more than you consume, and take control of your schedule while delegating lower-value activities. The business of your dreams is achievable. Make a few minor adjustments and you will be surprised at the results you will see.

Jimmy Burgess is the CEO for Berkshire Hathaway HomeServices Beach Properties of Florida in Northwest Florida. Connect with him on Instagram and LinkedIn.

7 reasons great real estate agents will always be needed

7 reasons great real estate agents will always be needed

Now is the time to expand your skill set, broaden your knowledge and provide value at a higher level than you’ve ever provided, Jimmy Burgess writes, so that you won’t just survive, you’ll thrive.

At Inman Connect Las Vegas, July 30-Aug. 1, 2024, the noise and misinformation will be banished, all your big questions will be answered, and new business opportunities will be revealed. Join us.

There’s a lot of doom and gloom about the real estate sales business in the world today. However, I’ve never been more excited about what the future holds for professional agents. When you provide great value and needed expertise, you will always be compensated in line with the service you provide.

Here are seven reasons great agents will always be in demand:

1. Experience

Your experience and understanding of the sales process have value. The more experience you have, the more trust your clients will have in you and your ability to help them achieve their goal of buying or selling a home. It is your experience that will help them avoid potential missteps in the process and it is your experience that will guide them to a successful closing.

We live in a society where everyone is looking for the “easy button.” When you are an agent, if they trust that you will help them through the process with the least amount of hassles, they will be happy to trade your expertise for their dollars.

2. Key local insights

Most of the news reported on real estate is done on a national level. Although trends at the national level are important, it is local details and insights that most affect buyers and sellers. Details like:

  • the average price per square foot for homes in different neighborhoods
  • local trends on whether inventory is up or down from last month
  • local absorption rate trends
  • average days on market trends
  • whether list-to-sell prices are showing a softening.

These are all local insights that affect how a home is priced or where an initial offer price should be made.

A professional agent shares the insights that help buyers and sellers make the best decision for themselves and their families. Without a true understanding of the local trends buyers and sellers could potentially cost themselves thousands of dollars by making uninformed decisions. Become the most educated agent about your local market and you will continue to be a valued and needed part of the process.

3. Network of local resources

Your network of trusted service providers has tremendous value. Most buyers don’t know a home inspector they are confident they can trust. Most buyers or sellers don’t know a handyperson who does quality work at a fair price. But you do, and access to your extensive network of these resources can set you apart from your competition.

A truly professional agent can recommend resources from babysitters to bicycle technicians. They know plumbers, electricians, landscapers and pool companies. When you are the connection point between your buyers or sellers and the people or resources they need, your worth will be recognized and appreciated.

4. Valuation expertise

If sellers trust Zillow for the valuation of their home before listing it for sale, odds are they are going to get it wrong. Your ability to put together a complete valuation analysis and to present it in a way that sellers can easily understand will help them sell their home for the highest price possible in the least amount of time.

Even if the seller wishes the price was higher, the numbers are the numbers. If they decide to list their home with another agent who said he or she thought it was worth more, they will not forget your presentation. The fact that you provided fact-based analysis will give you a good chance at being the listing agent when the home expires and they are ready to get realistic about the price.

When you show buyers an analysis of the value of the home they are considering buying, they are equipped with the confidence to make an offer based on the knowledge you provided. Your valuation analysis helps them make decisions on offers or counter offers based on facts and with less emotion.

A true professional that can exhibit expertise in the valuation of homes will always be desired.

5. Negotiation skills

If you are an astute negotiator who negotiates on behalf of your client at a high level, your value will outweigh the commission they pay you. You can develop your skills as a negotiator in a few ways. The book Never Split the Difference by Chris Voss is a great place to start, but there are tons of resources available through a Google or YouTube search.

The key is to understand that negotiating on behalf of your client is your job. If you are serious about your job performance and serving your clients at the highest level, then you will always be working to develop and hone your skills as a negotiator. When the value of your skill is more than the expense of your commission there will always be a market for your services.

6. Marketing skills

Effective marketing provides the exposure sellers need to garner the number of showings necessary to maximize the sales price of their home. Have you built a social media following or email list that you can market your listings to easily? Do you invest in top-of-the-line videography and understand how to tell the story of a home in a way that attracts buyers? Do you host open houses, door knock or run Google pay-per-click ads better than other agents?

Marketing skills give sellers the confidence that you can present and represent their home at the highest level possible. These are skills that will always be needed and sought after.

7. Legal navigation through the process

We live in an ever-increasingly litigious society. We began with the value of experience, and this is an area where that experience is paramount. Your ability to help navigate clients through the buying or selling process, avoiding potential pitfalls or liability, is needed now more than ever.

Understand how to properly word contingencies that protect your client. Provide updates on upcoming contingency deadline dates. Be the professional agent your clients need and deserve by understanding your contract completely. By doing so, you will not only be protecting your client but also protecting the need clients will have for your service.

Now is the time to expand your skill set, broaden your knowledge, and provide value at a higher level than you’ve ever provided. By doing so, not only will your business survive these changing times, but it will thrive like never before. 

Jimmy Burgess is the CEO for Berkshire Hathaway HomeServices Beach Properties of Florida in Northwest Florida. Connect with him on Instagram and LinkedIn.