The Key First Step to Fending Off Real Estate’s Biggest Disruptors
Join Tom as we recap on the Key First Step to Fending Off Real Estate’s Biggest Disruptors. As the real estate industry is set to see significant changes, your magnified overall success depends on staying ahead of the curve and preparing to show your local market why you are the agent to work with.
In this segment, Tom covers the initial step in becoming the hyper-local expert that will outmatch businesses like Zillow, Redfin, etc. Not only does Tom give you his insight, but he also delivers on the advice he foresees, making a difference in your business. And what better way to start than ensuring your brand is present on Google through your Google My Business page. Tom illustrates that having a developed Google, My Business sets you apart and marks you as the know-all agent of your community.
Whether you’ve barely started or still need to get to it, start now and finish it. Don’t miss this episode to get ahead in the game – because advice like this is worthwhile and sets the success for your future in the real estate business.
For the majority of my life, I’ve been passionate and dedicated about changing lives by giving away the very best strategies, tactics, and mindset techniques to help you and your business succeed. Join me as we take this to level 10!
Keep up with me and what's new on my other channels:
Website - https://TomFerry.com
Facebook - https://facebook.com/TomFerry
Instagram - https://instagram.com/TomFerry
Twitter - https://twitter.com/TomFerry
Podcast - https://TomFerry.com/Podcast
YouTube - https://youtube.com/CoachTomFerry
Join Tom as we recap on the Key First Step to Fending Off Real Estate’s Biggest Disruptors. As the real estate industry is set to see significant changes, your magnified overall success depends on staying ahead of the curve and preparing to show your local market why you are the agent to work with.
In this segment, Tom covers the initial step in becoming the hyper-local expert that will outmatch businesses like Zillow, Redfin, etc. Not only does Tom give you his insight, but he also delivers on the advice he foresees, making a difference in your business. And what better way to start than ensuring your brand is present on Google through your Google My Business page. Tom illustrates that having a developed Google, My Business sets you apart and marks you as the know-all agent of your community.
Whether you’ve barely started or still need to get to it, start now and finish it. Don’t miss this episode to get ahead in the game – because advice like this is worthwhile and sets the success for your future in the real estate business.
For the majority of my life, I’ve been passionate and dedicated about changing lives by giving away the very best strategies, tactics, and mindset techniques to help you and your business succeed. Join me as we take this to level 10!
Keep up with me and what's new on my other channels:
Website - https://TomFerry.com
Facebook - https://facebook.com/TomFerry
Instagram - https://instagram.com/TomFerry
Twitter - https://twitter.com/TomFerry
Podcast - https://TomFerry.com/Podcast
YouTube - https://youtube.com/CoachTomFerry
I want you to look at that red one. What does it say? Referral fees, referral fees, my friends, referral fees when i, when i posted this, everybody was like oh yeah, but i want to show you my most recent projection. This is what i believe amy the future is going to be in the next two to three years. Take a look at this.
I think we're still gon na have eye buyer, but it's gon na be small. Three. You know three percent of the market we're still going to have fsbo and and wholesaling some variation of that - maybe seven to eight percent of the market, but we're going to have 50 percent. This is my prediction: mike 50 of every transaction done will have a referral fee associated to it.
So look up here, relocation agent to agent. We love those right relocation agent to agent, zillow, realtor, home light quicken mortgage mellow homes. You can go right down the line. My friends there is today about 45 different companies.
Listen to me very carefully. There are 45, well-financed huge businesses that have figured out. Whoever generates the client gets a big chunk of the cash, and you know what they're all in it, because they see the same thing. I see 120 billion dollars in real estate commissions in europe, 90 billion dollars here in the us.
They see that money, my friends and they are like piranhas, but you know what they really see. Listen very carefully. They see the vast majority of agents unwilling to do the fundamentals to protect their brand, unwilling to take the time to do the basics, to protect their brand to put themselves in a position to win. So here's the question you ready.
How are you going to win the no like and trust battle against, zillow rocket mortgage realtor.com and tens of others? How are you going to win? I want to share with you guys that i'm going, i know for some of my friends that are newer right. I'm going to go fast with you, so you got to just stay with me as somebody new think of this as a crash course, and what it takes to truly be exceptional in this business and for my veteran friends that have been doing seven. Eight ten deals, maybe twenty deals and you're like okay, i got ta, get serious pay attention. Prior to my meeting in dallas with 178 teams.
I asked you know 12 to 15 people in this same group, most of them selling. You know 250 homes a year 500 homes a year, one of them, 3 000 homes a year, another one 5500 sales, a year teams teams. My friends at that level i said, come in and let's do a two day mastermind. I want to see people face to face.
You guys want to get out of your hometown. You know, put a mask on fly to dallas and let's spend some time together, and then i basically opened with this. What are you going to do when zillow or redfin or any other new company opens up an office ronda right next to yours? What are you going to do and by the way for my friends in florida, they've already done it for my friends in north carolina they've already done it in phoenix arizona, they've already done it, i'm talking about like a zillow office with zillow agents and their 200 Million unique visitors every single month now again, i am not busting their chops, they are doing their thing. My obligation is to serve you. My obligation deb is to get you ahead of the curve, so you can defend your position towards what's coming, but then i said: hey: what are you going to do sherry ellis when they offer a one percent commission, so everyone you might want to jot this down Because here's what's happening right now, they'll do they'll, do an i buyer program, name any one of the companies and here's what's happening 300 home sellers raise their hand and say yes, i would like to sell without an agent that sounds great and out of the 300. Maybe one actually does the transaction so there's the real number 300 people raise their hands and one says: okay i'll take that price and your 11 fees, because that's what it really is. Rhonda it's about 11 they're like okay, i'm in and the balance all say nah. I think i can do it someplace else.
I think i can go back to my friend right. I could talk to brandon lee. I could talk to you, know racy, like there's people i can talk to and they pass so you know what all these companies are doing. They're now coming back in with a secondary offer.
Would you list the home for one percent and we'll do all the traditional stuff at a one percent fee or a one and a half percent fee? So i'm sitting with mary some of the most successful real estate team leaders, long-term clients of mine, my buddy kirk kessel, i've known him for 30 years, and i said kirk. What are you going to do when they do this, and his response is tell me what i have to do? What do i have to do, because i don't want them to eat my lunch. I've worked too hard, 30 years in real estate in melbourne florida to build this brand to build his reputation. I said to him: you're going to have to make different offers you're going to have to do different things, you're going to have to add immediately a few tasks to your get stuff done list, and i sat with all these exceptional people.
My friends, like many of you watching right now, and i will tell you the difference with this group - is listen very carefully. Ten percent of success is knowing what to do and why to do it. Ninety percent of it is actually doing the work. It's easy to sit at your house or in your backyard jesse, which looks fantastic and i hope the weather's beautiful it's easy to sit in your backyard and say: okay fairy, i got it.
Okay, you sound pretty serious. You got the credibility. You've been doing this for a long time. It's easy to write it down.
That's the 10 percent 90 of success is actually doing the work. So, let's talk about it, you ready the question. I'm asking is right here: what are the most important future proof by business initiatives so jason? This is what i said to all those top agents. I said you guys are all killing it and you're making a fortune. What do you have to do? What are the most important things, and then we went into mike a conversation that led with this. How are we going to as a brand new agent as a 30-year veteran sherry wherever you find yourself right, kimberly? Think about it, wherever you are in your business, i need to know how are we going to elevate your brand? So people know who you are know what you stand for, so you could be on the consideration set of the people that already know you like you and trust you and others in your marketplace, because that's a bigger group, that's a bigger addressable market than the people. You know, then, i said: how are you going to win the mind share? How are you going to win the mind share so when they get an ad from name any site home lite, zillow realtor, any any one of those and sean those companies are spending? You know 30 40, 50 million dollars a year on things like facebook, ads, google ads, linkedin television and more. How are you going to win the mind share, so they go well, of course zillow.
But i got to call my friend, of course, zillow, but i got to call amy, of course, redfin, but i got to call mike how do we win that mindshare? That's what we want to do this morning and then, ultimately, how do you defend your position as the hyper local expert, the hyper local expert, so everybody you better write that down, because that is the game today. This is like me, rhonda calling my clients and saying join me on a conference. Call i'm going to introduce you to my buddy. He runs indymac.
He has 40 000 reos. Would you like some? I made a lot of clients really happy during that time, because i positioned them to win in that environment. I'm doing the same with all of you right now. I really hope you get my tone.
How do we win here's? The thing guys look up here: zillow is struggling to go hyper local home light has not figured out at all, redfin can tell you walk scores and all that stuff, but they can't go neighborhood specific. They can't go community specific they're, not doing the things that i'm going to show you guys to do today, but look up here angela, they will, they will they'll get there. So i think all of you have maybe nine months to really get all this stuff going. Justin miller, so you can be ahead of the curve, so there is some urgency.
This isn't like i'll get to that later. No, this is at the end of today you're going to carve out an hour and get to work and then you're going to spend 30 minutes every day. Doing just the eight things that i'm going to share with you and you got to do all eight. You can't just do a few of them, so here's the first one you ready! You got to use google to position yourself as the hyper local expert.
Now, if you're going to ask like how or why, if you're, paying attention, my friends and i'm very lucky very, very blessed to have a lot of, let's just call it friends in high places, a long time friend of mine, reluca monet, who used to run all Advertising for zillow excuse me for zillow for real estate and mortgage for google, so she would call me and say this is what's hot and this is what's not. This is what you need to do. This is the stuff you should avoid. Three years ago, when google started making some changes, she's texting me and saying: are you watching and my response was? Is it mature enough? Yet it's like when i told you get on youtube in 2007. Many of you are like the dance, video charlie bit. My finger, i don't know right, i don't know if that's actually going to be a thing, but those of us that went hard in 2009-1011, we all killed it. It made our businesses the stuff i'm going to talk to you about now is fully baked and maturing, and yet i would estimate less than eight percent of agents around the world are doing any of the stuff. I'm talking to you about less than eight percent, because all you got to do is just go into the mls and start typing in names and you'll see.
So what's the first thing, we need to do. Here's your first action. You ready. I need you to build out your google, my business page.
We refer to as just gmb, google, my business. So do me a favor right now and i see you all writing it down and that's great, but what i really want you to do is i want you to grab your phone right now and i want you to google your name and see what comes up. Google, your name now you might have to. If your name is, you know, jane smith, you might have, to put you know, jane smith, cole banker or you know, jane smith realtor, but put it in first put in your name.
What shows up have you already claimed your google, my business page, so kelly chong says me: i love it kelly congrats. What shows up now i'm going to go deep on this and give you a bunch of tactical insights and actions right. So rhonda power says me on at least five sites, so rhonda that's great, but i would think with a name like rhonda power, there's probably more than one. So are they all you, your facebook, your linkedin, your instagram? Hopefully your own website but rhonda, give me a thumbs up or thumbs down.
Do you have your google business page set up thumbs up or thumbs down right? So i see mike who's saying. Yes, i see victoria saying yes but rhonda yes or no. You either have it or you don't okay, so ron, i'm taking that expression is i don't have it right not yet so. Thank you so rhonda, here's, the very first most important thing and then william, i'm going to talk to you separately for some of you right for sophie differently.
The first thing is: you've got to own your name in the hyper local world of google, and the only way to do it is your google, my business page, here's the second thing. 1.2, if you will, on my points, if you already have a personal page and you're a part of a team, you can create a separate one, whether you're the team leader, like i'm gon na make this up. Let's just say that um, you know regina york, let's just say that you've got a team and you got five or six people on your team and your team. Isn't the regina york team, but it's the super group and hooby dooville. Well, if your team name has lost your name, i want you to have two pages, one with your name, the credibility and the swag that you've always had and one with your team. If you don't have a team, don't worry about it, just get the first one done and do it today, fred do it today now the next thing is: if you actually go to google and you type in how do i really make my google business page great You'll see the same thing, i'm showing you here, they basically go through and say here are the 10 things that you have to do right. You got to create your account. You got to complete every section.
You got to complete every section which is look at the one i have right here on the screen, this donna roberts gal from north carolina. I was actually trying to find my client donna roberts who's actually in, like the oregon marketplace in the high end to check to see if she had done it, and i found this one and i said i'll - just use it as an example. So i'm not knocking this poor lady, but you can see ready. She has one review.
She has a phone number. She has no website. So if somebody actually wanted to read more about her watch, a video on her see what she's all about validate her reviews, she's got nothing there. No one's ever asked her a question.
She's never responded anything and she has look at photos. I think it says zero. So she has no photos, she doesn't have a website. If you saw this page and you were looking to hire someone, would you hire this person, yes or no? Yes, or no? My friends right, the answer is no.
If you looked you'd be like, does she even sell houses? I met her. She was really nice. My friend said you should check her out. She's, terrific, but then faith.
I see this and i'm like this woman doesn't exist. Now. Here's what really matters so listen up. Everybody i know this, you know, maybe i don't know if you got two screens going or rush, you got one screen going, but listen, whether you're in south florida you're in miami fort lauderdale, boca you're in i mean new zealand.
It doesn't matter north or south island. The bottom line is this bright local, their gmb study said we also looked at the links between the number of photos on your google, my business page and the insights, meaning what was the result of having it. So if you read there, here's what it says you have 100 photos. 100 photos jason, ready, jason photos of houses, photos of you with a school teacher photos of you with a client in front of a for sale, sign photos of you. Handing someone the keys photos of you with your children photos of you at your favorite beer pub photos with you at your favorite pizza place. You with me showing that you're a hyper local person to that town and look at the results. My friends, people with 100 images, get 520 more more phone calls 520 rhonda. I don't know about you, but for something that is f-r-e-e free to get 520 percent more phone calls.
I'm in. I would do it in two seconds, but then it also says 2700 people or 27 improvement in people looking for directions. Where is rhonda's office? Where does she work? Where is that house of the photo that she showed me and 1065 percent more visits to your website? You know the number one question i get when people talk about websites beyond which provider do you recommend is how do i drive more traffic? I'm, like i don't know how about finish your google, my business page. Add the photos put some videos up there, geotag it, which i'm going to explain in a minute, do the basics, but look at the bottom.
The same exact study showed that the average real estate professional had 10 photos only. So every one of you today, like everybody just just for fun, if you just grabbed your phone and went to your photos, how many thousands do you have inside there if you, if you went to your website - and you said - oh wow, look at this - here's every Listing i've ever sold, oh there's that buyer i met you have kimberly everything you need in this device. The key is that we got to start uploading it into your google. My business page, which will take - i don't know, maybe for some of you - grab your 13 year old and say i've highlighted 125 photos.
I need you to add them to my google, my business page. Well, what do i get for that? Mom dinner? That's the answer. Dinner, does that make sense? Yes, that's that's how you that's how i parent sorry but now watch this. It's not just doing the photo.
You also want to geo tag the photo. This is where the hyper local secret sauce shows up see if jason goes on. For example - and he just takes all the photos - and he shows me every house and maybe faith - he puts a sold sign on it right or he overlays a sold sign, that's great, but guess what? If he goes on to google and says here's the property address and google you know with their google map will actually say: oh you mean this spot on the earth. Now, all of a sudden rhonda, your google map of your favorite restaurants, the communities you serve all the homes you've sold all of those geo-tagged.
You know what happens now now. Google says royce is a very legitimate agent in the south florida marketplace, specifically in this part of town, with all these transactions. With all these relationships, and by the way everyone write this down, everyone write this down because you're not going to see it in the slides photos of you with restaurant owners. Photos of you with the owner of the local bookstore photos of you with the most popular coffee spots in town, the manager, whoever it is now all of a sudden google starts to say this amy johnson gal. She really knows everything in this area, so when people are doing searches whose page do you think is going to show up mike realtors get to do their thing, zillow's going to do their thing home light's going to do their thing and they 30 40. Other companies they're going to do their thing. We we got to go hyper local with our google, my business page, that's the first most important point: does everybody get it give me a thumbs up if you get what i'm saying? Okay, terry said good stuff, terry. That was only point number one.
That was only point number one. I got an hour and 30 minutes before we go to lunch. You.
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Geo tag? Please explain
Could it be considered an invasion of privacy if you're geotagging photos of clients in front of their new home? Is it something we should be asking permission for? You're the man Tom!
Your making this prediction based on your relationship with ZILLOW who is changing their business model to support your prediction!
Great advice as always! Where can we find the other 7 steps?
When you create a second GMB page for an individual, do you use the same photos and info as your business page
How the hell do I get the other points?? Where's the rest of the video?? Ugh!!!! ) :
venturin into the tradin world without the help of a proffesionl trader and expecting profit is like turing water into wine,
you would ned a miracle, thats why i trade with Mrs maggie her skills set exceptionl
Love all these tips that I'm sure will help me level up! Thanks Tom!!
Off subject. Videos on this channel tends to be more quiet than others. I can not hear it loud enough while doing chores.
Great information Tom. Were do we find the next steps ?
Thank you Tom.
Hey, I'm Thor.