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.