James Goodman, a real estate team leader out of Phoenix, has made a strategic shift from running a buyer-heavy team to focusing more on listings—a move that's critical with the compression of commissions.
To make this transition, he’s running home-selling workshops designed to secure listings and leveraging Vyral Marketing to deliver consistent, engaging video content to position him as the go-to expert in his community.
With his focus now on listings, James is ramping up agent recruitment too. He’s launching a second Vyral account specifically for attracting and onboarding talent.
This shift from buyers to listings is helping James grow his business and thrive in a challenging market. Thank you, James, for being a client!
AI Summary
Decisions Made
- James decided to implement home-selling workshops as a strategy for securing listings and recruiting agents.
- He prioritized building and nurturing a database of potential sellers.
- James chose to use Vyral Marketing for consistent communication with his database.
- Brivity CRM was selected for managing contacts and sending market reports.
Issues and Risks
- Concerns about the current low level of existing home sales, which is lower than during the COVID-19 downturn.
- The compression of buy-side commissions is making it harder to maintain income levels.
- Challenges in recruiting and retaining agents due to changing expectations and work preferences.
- Cold calling methods are seen as too aggressive and ineffective for many new agents.
Next Steps
- James plans to implement the home-selling workshop strategy for recruiting and training new agents.
- He will continue using Vyral Marketing for consistent communication with his database.
- James will share the webinar recording with potential agent recruits.
- Frank will build a second Vyral account for James, focused on agent recruiting.
Questions Discussed
- What strategies are being used to secure listings?
- How is James building relationships with homeowners who may be selling soon?
- What steps are being taken to ease the recruiting burden and build a sustainable team?
- What does James like about Brivity's seller drip campaigns?
Outline
Introduction
- Frank Klesitz introduces himself and James Goodman, a real estate team leader from Ahwatukee in Phoenix, Arizona, with 21 years of experience in real estate.
- Frank discusses the current real estate market, comparing it to the 2008 recession, and highlights the impact of the Fed’s interest rate hikes.
- James Goodman mentions being licensed in May 2022 during a challenging market period.
Challenges in the Current Real Estate Market
- Both Frank and James discuss the compression of commissions, making it harder to maintain previous income levels.
- Frank emphasizes the importance of adapting to the new normal in the real estate industry.
- James notes that agents must work harder to achieve the same results in today's market.
Strategies for Getting Listings
- James uses Vyral Marketing to stay in touch with his database, focusing on providing valuable content to position himself as a real estate expert.
- He finds creating videos with Vyral simple and effective, increasing engagement with his database.
- Frank highlights the process of integrating contacts from various sources into Vyral's email marketing and Facebook retargeting.
Leveraging Technology for Database Engagement
- James utilizes Brivity CRM for market reports and home value estimates, sparking conversations with clients.
- He emphasizes the importance of providing consistent updates to clients and acting as a consultant.
- Frank and James discuss the importance of a long-term video nurture program to remain top of mind with the database.
Building the Database and Community Engagement
- James highlights the need to continuously build the database and engage the community.
- He uses traditional methods like handwritten cards and events to maintain strong relationships with top clients.
- James shares an example of a community event where 200 people were invited to a movie premiere.
- He stresses the importance of following up with clients who engage with his content and events.
New Strategies for Listing Acquisition
- James introduces home-selling workshops as a new strategy for acquiring listings, providing value to potential sellers, and positioning his team as experts.
- He explains how these workshops create a low-risk environment for sellers and reduce rejection, especially for new agents.
- Frank and James discuss the success of the workshop model in converting attendees into clients.
Onboarding and Training New Agents
- James plans to onboard and train new agents using the home-selling workshop strategy, offering a structured and supportive environment.
- He is considering converting this strategy into a licensed apprenticeship program for new agents.
- Frank and James highlight the importance of creating a system that supports both agent recruitment and retention.
Leveraging Technology for Team Building
- James emphasizes the importance of technology, like Brivity CRM and Vyral Marketing, in managing his team and saving time.
- He discusses the benefits of partnering with Place for additional support and training.
- James stresses the importance of providing value to both clients and team members for long-term business success.
Conclusion and Call to Action
- Frank and James summarize the key takeaways, encouraging agents to implement the discussed strategies to thrive in a down market.
- James shares his success, having taken more listings year-to-date than in the past two years combined.
- Frank invites agents to reach out for further guidance and support in implementing these strategies.
