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Real Estate Fight Club

17
Aug 2022

WWYD: At Closing How Should You Transfer The Key’s?- EP 79

This is a special series of The Realtor Fight Club Podcast where we talk about situations that are potential ethics and professional standards violations. What Would You Do in these situations? All cases mentioned and the code of ethics can be found at www.JenniferMurtland.com/Vault 

Resources: 

 

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Jennifer Murtland 513-400-1691

 

 

15
Aug 2022

Role Playing That Can Help You Close More Transactions- EP 151

On this episode of the Real Estate Fight Club Podcast, Jenn and Monica are going to throw some scenarios out, and they are going to discuss and may argue about what a client would say in such scenarios. These role play scenarios will provide you with some good language to use when you find yourself in various situations with clients. Don’t miss it!

Episode Highlights:

  • What should  you say when a client you are kind of talking to, are not a client yet but might be a probable prospect?
  • In a scenario Monica calls Jenn for one of the properties that are listed. Jenn shares a few probable questions that she would ask a caller, "How long have you been looking?" "What's prompting you guys to think about moving?" "If another house came up in the neighborhood, would you be able to buy it right away or would you have to sell your house first?
  • During the initial conversation Jenn often strikes to build a connection and gather information about the client's motivation. 
  • Jenn says that she should call or e-mail the potential client who is actually relevant because everybody knows those portals are not like 100% relevant and we know that the client is off talking to 16 other realtors. 
  • Monica disagrees with Jenn and says that if you were providing the information and if you are servicing and part of the portal is the servicing the clients, then there is nothing wrong in using that. 
  • Jenn says that finding and focusing on motivated clients are really important. If as an agent, you have 200 leads that aren't motivated and aren't going anywhere. Then it is just a waste of time and resources. 
  • The definition of a lead for a top agent is somebody who is going to do a transaction and sign a contract within the next seven days. 
  • The next scenario that Jenn and Monica discuss is what do you do with somebody who says, "I may want to move next year, don't forget about us." 
  • Jenn says that agents often spend so much time on potential leads who are not motivated that they are missing out on the people who are actually motivated. 
  • Implement your smart campaigns until the people are ready and then leverage take over. So, as per Jenn, follow up with the people who are going to make a contract with you or with somebody else in a set amount of time in the seven to 10 days.
  • Jenn and Monica discuss commissions and what to say to a client when they ask for a discount or cut in the commissions. 
  • There are a lot of ways to sell a house. If people are asking you questions, that's a buying signal. Questions are good, says Jenn.
  • Michael Foster, the tiebreaker for this episode, explains how interest rates and cost of houses go up and how it is not a wise decision to wait for buying a house. He says the longer you stay in a rental where you are, you are going to be paying somebody else's mortgage. And why not be building equity because for the next three years they are looking at homes appreciating as much as 23% versus you paying 23% more rent when you would rather be putting money in the bank.
  • Another situation that Michael usually encounters is the question usually is "I am not ready to take on a real estate agent yet. I am just looking on my own. I am just going to open the houses." 
  • Michael had a client who had said to him that they were looking on their own. So they went ahead and started looking on their own. And they went to an open house, and they fell in love with it, but they didn't have an agent, so they missed out on that house. 
  • Michael tells his clients that as a buyer's agent, he doesn't cost the client anything. He is compensated through the seller. So, his efforts are 100% to take care of the client and protect the client's interest. 
  • Michael talks about a scenario wherein a client really likes a property but does not have the time to go and visit the property. He shares what he does in such scenarios.

 

3 Key Points:

  1. Initially Monica focuses on getting the clients in a portal where she is the one who is sent their house as an agent. On the other hand, Jenn tries to learn about their motivation and focuses on setting an appointment. 
  2. Don't wait on people who are going to take 6 months or so instead focus on those who are going to sign a contract in the next couple of days, says Jenn.
  3. Tie breaker, Michael Foster, partner at Foster-Vosburgh Realty Group, joins the conversation. He shares his opinion on "What are the common objections that the agents are dealing with?"
  •  

Resources Mentioned:

Michael Foster:

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Coach John Kitchens - www.mygrowthscore.com, https://coachkitchens.com/

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10
Aug 2022

WWYD:Can Inspection Results Of Latent Material Defect Be Considered Confidential?- EP 78

WWYD (What Would You Do?) is a special series of The Realtor Fight Club Podcast where we talk about situations that are potential ethics and professional standards violations. What Would You Do in these situations? All cases mentioned and the code of ethics can be found at www.JenniferMurtland.com/Vault 

Resources: 

 

Thank You To Our Incredible Sponsor Partners (Get Great Discounts with these links)

Coach John Kitchens - https://coachcodeclarity.com, https://coachkitchens.com/

Ghostpostr - https://www.ghostpostr.com/ (Get Ghostpostr For FREE!)

 

Cyberbacker - https://cyberbacker.com/ (Get a FREE gift simply by saying you heard it on Real Estate Fight Club)

 

Pipeline Pro Tools - https://pipelineprotools.com/fightclub/

 

Resources

https://www.facebook.com/realestatefightclub

https://www.instagram.com/realestatefightclub/?hl=en

https://monicaweakley.exprealty.com/

https://www.facebook.com/mycoachmonicaw

https://teamsynergi.exprealty.com/

https://jennifermurtland.com/Vault/

https://www.instagram.com/jennifermurtland/

Jennifer Murtland 513-400-1691

8
Aug 2022

What Is A Fair Referral Fee For Real Estate Agents?- EP 150

On this episode of the Real Estate Fight Club Podcast, Jenn and Monica are going to duke it over what is a fair referral fee for real estate agents? When should it vary, what is fair for the different scenarios? The standard for referral fees is 25% but tie-breaker Kate says it all depends on market to market and relation to relation. Tune in to get all the details.

 

Episode Highlights:

  • Just because somebody wants to work with you doesn't mean that you have to work with them. You need to set your standards, says Jenn.
  • It's important to have referral partners that you can refer  business to and there are opportunities to also make money.
  • Referrals depend on the situation. You can ask for a higher referral if it's a listing and it depends on how involved you are going to be.
  • Monica says that referral and client relationships also depend on what kind of market you are in. 
  • If you remember the days where the buyers were coming back, and they had ten houses to choose from in one weekend, that was when agents were charging higher.
  • Monica doesn't discuss a referral to another market because she will never benefit in the future. But if agents do it in the right way, they can cultivate multiple leads from referrals.
  • Monica has separate out of town clients and she communicates with them separately. There is an education piece that goes with it as well.
  • It would be really important to set a goal back in your home market and that has to be an intentional stream of income, says Monica.
  • Tie-breaker, Kate Dawson from Keller Williams Cincinnati answers questions about fair referral fees. 
  • Kate has passed out a lot of referrals and she has not retrieved a lot of referrals. She shares experiences and thoughtful insights.

 

3 Key Points:

  1. In the present market scenario, you charge higher because the receiving agent is going to make a lot more money, says Monica.
  2. Jenn shares about referral partners in different markets.
  3. Kate has a referral partner in Kentucky and when she gives her continuous business, they have a 50-50 agreement no matter the price point, no matter whatever.

 

Resources Mentioned:

Kate Dawson:

  • 513-560-0660

 

Thank You To Our Incredible Sponsor Partners (Get Great Discounts with these links)

Coach John Kitchens - www.mygrowthscore.com, https://coachkitchens.com/

Ghostpostr - https://www.ghostpostr.com/ (Get It For FREE!)

 

Cyberbacker - https://cyberbacker.com/ (Get a FREE gift by simply saying you heard it on Real Estate Fight Club)

Pipeline Pro Tools - https://pipelineprotools.com/fightclub/  

3
Aug 2022

WWYD: Notify Any Agent Who Has Shown Your Listing Of Brokerage Commission Changes- EP 77

WWYD (What Would You Do?) is a special series of The Realtor Fight Club Podcast where we talk about situations that are potential ethics and professional standards violations. What Would You Do in these situations? All cases mentioned and the code of ethics can be found at www.JenniferMurtland.com/Vault 

Resources: 

 

Thank You To Our Incredible Sponsor Partners (Get Great Discounts with these links)

Coach John Kitchens - https://coachcodeclarity.com, https://coachkitchens.com/

Ghostpostr - https://www.ghostpostr.com/ (Get Ghostpostr For FREE!)

 

Cyberbacker - https://cyberbacker.com/ (Get a FREE gift simply by saying you heard it on Real Estate Fight Club)

 

Pipeline Pro Tools - https://pipelineprotools.com/fightclub/

 

Resources

https://www.facebook.com/realestatefightclub

https://www.instagram.com/realestatefightclub/?hl=en

https://monicaweakley.exprealty.com/

https://www.facebook.com/mycoachmonicaw

https://teamsynergi.exprealty.com/

https://jennifermurtland.com/Vault/

https://www.instagram.com/jennifermurtland/

Jennifer Murtland 513-400-1691

1
Aug 2022

Do These Things To Prepare For Shifting Real Estate Market- EP 149

On this episode of the Real Estate Fight Club Podcast, Jenn and Monica are going to duke it over what agents need to do now to prepare for this shifting market. Monica says that there are five things that to focus on in this market to survive and continue your business. What are they? Tune in now. 

 

Episode Highlights:

  • Always focus on your work and stay back to basics on stuff, advises Jenn. 
  • “Lead generation, lead follow-up, negotiating contracts, learning and developing your skills are things that we should be doing in every meaning and everything else can either be delegated to somebody else or done later”, says Jenn.
  • “When you wake up and look at your calendar and you don't have any appointments for that day don't think that you don't have anything to do that day because you have something to do every single day”, says Monica.
  • What about the basics of relationship?
  • Evaluate expenses. Monica discusses what that looks like for these times.
  • It is time to keep learning and to get creative. This is not a time to sort of freeze in your path and not look around for new solutions.
  • The market does not dictate your success; It only dictates your strategy. Your success has nothing to do with what's going on in the market.
  • People need to think about it when we have a very good market, it's flooded with agents that don't know what they're doing.
  • What is your mindset around opportunity?
  • Now is the time in the market to implement your standards and expectations.
  • Tiebreaker, Kyle Davis, from Keller Williams in Oklahoma shares his views on what you need to know now with the shift.
  • There is a difference between being adaptable in a shifting market and just letting go of something too soon. Kyle shares how he measures that.
  • You need to be accountable because there are people, they keep having a single source and then just keep paying that source even though it's not providing leads and making enough money, says Kyle. 
  • When the market shifts and there is  changing and uncertainty, your clients need to get comfortable, you need to be able to tell them exactly what is happening in the market, says Kyle.
  • You have to find and motivate the client because there is a difference between wanting a house and needing a house, suggests Kyle. 

 

3 Key Points:

  1. Cold calling, texting, or reaching out to strangers to make them not strangers anymore is like doubling down for Jenn in this market shift.
  2. 2008 is one of those times where the prices of the values for the homes were affected greatly and that is what everybody remembers because it was the other recent slowdown.
  3. You have to be adaptable to the market. What worked before might not work now and you can't get stuck with one source, says Kyle.

Resources Mentioned:

Kyle Davis:

 

 

Thank You To Our Incredible Sponsor Partners (Get Great Discounts with these links)

Coach John Kitchens - www.mygrowthscore.com, https://coachkitchens.com/

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27
Jul 2022

WWYD: Can You Market A Property On Your Social Media, If You Do Not Have It In The MLS Yet? -EP 76

This is a special series of The Realtor Fight Club Podcast where we talk about situations that are potential ethics and professional standards violations. What Would You Do in these situations? All cases mentioned and the code of ethics can be found at www.JenniferMurtland.com/Vault 

Resources: 

Thank You To Our Incredible Sponsor Partners (Get Great Discounts with these links)

Coach John Kitchens - www.mygrowthscore.com, https://coachkitchens.com/

Ghostpostr - https://www.ghostpostr.com/ (Get Facebook daily posts for FREE!)

 

Cyberbacker - https://cyberbacker.com/ (Get a special gift simply by saying you heard it on Real Estate Fight Club)

 

Pipeline Pro Tools - https://pipelineprotools.com/fightclub/

 

 

 

https://www.facebook.com/realestatefightclub

https://www.instagram.com/realestatefightclub/?hl=en

https://monicaweakley.exprealty.com/

https://www.facebook.com/mycoachmonicaw

https://teamsynergi.exprealty.com/

https://jennifermurtland.com/Vault/

https://www.instagram.com/jennifermurtland/

Jennifer Murtland 513-400-1691

 

 

25
Jul 2022

What Numbers Should Real Estate Agents Be Tracking In Their Business?- EP 148

On this episode of the Real Estate Fight Club Podcast, Jenn and Monica are going to duke it over: what numbers are most important to track an agent's business? What numbers should agents be tracking in their business? Monica doesn't think that there is a huge discrepancy in the thought, but as per her, there is probably a discrepancy in which one is most important and how you go about it. 

 

Episode Highlights:

  • Jenn talks about the importance of recognizing that as a real estate agent you actually have a business. Whether it is full-time or part time, it is a business that is generating income. In the eyes of the IRS, you are a 1099 independent contractor. That means you are a business owner. 
  • Jenn and Monica discuss dialing and actually contacting a potential customer. 
  • What about working on your business plan?
  • Monica and Jenn talk about designing the measuring tool for inside the lead generation. 
  • Wherever there is a break, if you can track those four numbers (Contacts, appointments, contracts, and gross commission income), wherever there is a breakdown and you are not getting the results that you want, you can specifically know what the issue is. If you do not track those numbers, then you won't know where the issue is, says Jenn.
  • The only reason an agent is not tracking their numbers is because they are embarrassed, says Jenn. 
  • Jenn suggests, if you don't want to do open houses, there are a lot of ways to succeed in real estate and you just choose a different way.
  • If you have nothing and you are still working, you are still clocked in, then generate more leads and don't mess around with your business card logo. 
  • The purpose of the lead generation time is to set the appointment.
  • As an agent once you set the appointment, you have a process to qualify those buyers or sellers at that appointment to pre-qualify them before you meet.
  • If you are starting out and you're not somebody that's been consistent with your activities, whatever they may be… instead of charging into this and just trying to find success with appointments and contracts, Monica wants you to think of this as the experiment for 30 days to find out your numbers. 
  • Tiebreaker, Matt Plumer,  a real-estate agent and a financial coach help people to get out of debt and build their wealth joins the episode today. 
  • We are not selling real estate just to go sell real estate. We are selling real estate so that it generates income to support our families, says Matt. 
  • After thousands of conversations with real estate agents, Matt has concluded that the majority of agents don't make as much as they think they all spend more than they care to admit. 
  • It is important to figure out the real number at home. Let's call it $10,000, says Matt. He calculates a $2500 mortgage, two kids, husband and wife, car payments, student loan payments and other government money, that's unfortunately called normal in the world of real estate. 
  • Matt explains what the best agents are doing and how you calculate success and improve.

 

3 Key Points:

  1. Contacts, appointments, contracts and then the gross Commission income are the four numbers that real-estate agents should really track, says Jenn. 
  2. Monica and Jenn disagree on what and how to lead generate, but they agree that there needs to be time set aside to generate leads.
  3. The two things that stresses agents out the most, is inconsistent income and financial disorganization, says Matt. 

Resources Mentioned:

Matt Plumer:

https://www.instagram.com/coachmattplumer/?hl=en

https://www.facebook.com/plumermatt

https://www.5financialmistakes.com/ebook1589485153428

 

Thank You To Our Incredible Sponsor Partners (Get Great Discounts with these links)

Coach John Kitchens - www.mygrowthscore.com, https://coachkitchens.com/

Ghostpostr - https://www.ghostpostr.com/ (Get It For FREE!)

 

Cyberbacker - https://cyberbacker.com/ (Get a FREE gift by simply saying you heard it on Real Estate Fight Club)

Pipeline Pro Tools - https://pipelineprotools.com/fightclub/  

20
Jul 2022

WWYD: If You Do Not Know The Answer To Your Clients Question, Don’t Put Your License At Risk.-EP 75

WWYD (What Would You Do?) is a special series of The Realtor Fight Club Podcast where we talk about situations that are potential ethics and professional standards violations. What Would You Do in these situations? All cases mentioned and the code of ethics can be found at www.JenniferMurtland.com/Vault 

Resources: 

 

Thank You To Our Incredible Sponsor Partners (Get Great Discounts with these links)

Coach John Kitchens - www.mygrowthscore.com, https://coachkitchens.com/

Ghostpostr - https://www.ghostpostr.com/ (Get Ghostpostr For FREE!)

 

Cyberbacker - https://cyberbacker.com/ (Get a FREE gift simply by saying you heard it on Real Estate Fight Club)

 

Pipeline Pro Tools - https://pipelineprotools.com/fightclub/

 

Resources

https://www.facebook.com/realestatefightclub

https://www.instagram.com/realestatefightclub/?hl=en

https://monicaweakley.exprealty.com/

https://www.facebook.com/mycoachmonicaw

https://teamsynergi.exprealty.com/

https://jennifermurtland.com/Vault/

https://www.instagram.com/jennifermurtland/

Jennifer Murtland 513-400-1691

18
Jul 2022

Can You, Or Your Clients, Use The Bathroom When Showing A Home?- EP 147

On this episode of the Real Estate Fight Club Podcast, Jenn and Monica have a funny topic for the listeners; They are going to duke it over, “Should you or your clients use the bathroom at a showing of a house? Don’t miss out on this hilarious episode.

Episode Highlights:

  • These days in her business Monica is back to the basics. She says that the shift is coming in the market, and as a real-estate agent it is important to go back to your job, stay connected and generate leads. 
  • Monica says that as an agent you should really try hard not to use the bathroom, but if it is an emergency, then you can use it, post making sure that the water is running. 
  • Jenn used to have an investor client and his philosophy was if he had to go to the bathroom in the house, then he felt really comfortable and that was the house he was going to buy.
  • Having something to eat or drinking the water is a different story than going to the bathroom at a seller's house, says Jenn.
  • You are not a guest in the house, you are a potential buyer. It is a business transaction. You don't show up like a friend or like an invited guest in that way, says Monica.
  • As per Monica there should be a line between cupboards, drawers, and closets. She says it is really not necessary to check the drawers. 
  • Jenn suggests besides checking that the water is 'ON', make sure that there is toilet paper or bring something with you to wash your hands.
  • Tiebreaker Austin Long says that whether to use the bathroom or not depends on a lot of factors. It matters if the home has one been winterized or not. If it's an open house or not?
  • Austin says if you can hold going to the bathroom then you should definitely hold it. 
  • Austin says when it comes to checking closets and cupboards it is absolutely ok for the buyer to check it, because they are buying a product. 

3 Key Points:

  1. Jenn and Monica share whether they allow their clients to open up cupboards and closets or not?
  2. At a seller's house Monica is ok to use the guest bathroom. They know people are going to be in their house. They know people and everybody poops. 
  3. Tiebreaker Austin says it is ok to pee in a showing, but poop is not ok. 

 

Resources Mentioned:

Austin Long:

  • Austin Long 347-260-7736

 

Thank You To Our Incredible Sponsor Partners (Get Great Discounts with these links)

Coach John Kitchens - www.mygrowthscore.com, https://coachkitchens.com/

Ghostpostr - https://www.ghostpostr.com/ (Get It For FREE!) 

Cyberbacker - https://cyberbacker.com/ (Get a FREE gift by simply saying you heard it on Real Estate Fight Club)

Pipeline Pro Tools - https://pipelineprotools.com/fightclub/  

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