Real Estate Coaching with Jim Remley
On this episode of The Closing Table, we sat down with Jim Remley!
To watch the full episode, check it out on YouTube below. In the meantime, here’s a summary of the conversation…
Here’s what you missed from Jim Remley…
Jim began by sharing the necessity for agents to understand and articulate their value proposition, identifying at least five differentiation points. Without clear differentiation, agents risk losing clients to competitors. He underscores the importance of presenting this value proposition visually to demonstrate why clients should choose a particular agent.
A success portfolio showcasing past client work can serve as tangible evidence of an agent’s value proposition. Jim suggests utilizing systems like FlipHTML.com to create a magazine-style format for the success portfolio. Additionally, tools like Canva or PowerPoint can be employed to create presentations, which can then be shared via URLs or QR codes.
Next, Jim highlights the importance of creating a visually appealing presentation. Hiring specialists from platforms like Fiverr.com or Upwork.com can be beneficial for agents who need assistance in developing these presentations. Virtual assistants or contractors can handle specific tasks, such as creating a listing or buyer presentation.
Jim acknowledges the significance of the sphere of influence as the primary sales funnel. Agents should prioritize nurturing their sphere to drive business growth. Understanding the average ratio of transactions to the number of people in the database is crucial for predicting sales. By focusing on referrals and repeat business, agents can build a strong foundation for their real estate business.
Agents should implement strategies to engage and nurture their sphere of influence, utilizing math-based formulas to predict future transactions. Jim emphasizes the necessity of filling the Gap number to achieve business goals. This involves adding as many people to the sphere as possible through traditional methods such as open houses and modern solutions like social media. Converting audience members into sphere members requires consistent engagement.
Jim then advises agents to prioritize lead generation by committing to one hour of uninterrupted lead generation every day. Setting one appointment daily and adding one new person to the sphere of influence helps in consistently growing the database. Continuous learning and adaptation are also crucial. Agents should regularly read or listen to non-fiction podcasts or books, attend live events, and seek designations to elevate their knowledge and skills.
Jim also advises getting centered on a new “why” every year to stay motivated. Setting meaningful goals aligned with personal aspirations, such as travel and experiences, is crucial. Reflecting on one’s initial motivation for entering the profession can help in realigning with a new “why.” Providing leads and lead playbooks is crucial for attracting talent. Having a system and staff to support agents’ productivity and time freedom is also important. Jim emphasizes the need for a value proposition and a clear understanding of per-agent productivity. A team leader should measure the productivity of their agents to determine their success.
He advises team leaders to identify the number of transactions their agents are doing and aim to help agents increase productivity. Recruiting out of offices with lower agent productivity and aiming to be above average agent productivity levels are key strategies. Systems are non-negotiable, and staff can be added as the team grows.
Building relationships rather than focusing solely on closing is essential. Jim suggests starting conversations, building rapport, and offering to present without pressure. Highlighting the strengths of potential recruits and what they could bring to the team is crucial. Agents who grow their business every year are more likely to stay loyal. By focusing on helping agents increase their business and showing personal interest in their success, team leaders can retain their agents.
Jim recommends agents focus less on commission splits and more on how the team will help them close more transactions and simplify their life. Asking about team members’ current productivity, marketing, training, coaching, mentorship, and systems is essential. The biggest challenge for agents is consistency. Creating a list of five non-negotiable daily tasks can help ensure consistency. Embracing early mornings for quiet time allows agents to invest in essential tasks before the day gets busy. Treating real estate work like a job with specific, non-negotiable tasks is crucial.
Check out Jim Remley:
https://www.erealestatecoach2.com
https://www.instagram.com/erealestatecoach/
https://www.facebook.com/eRealEstateCoach/
If you loved this episode subscribe so you never miss one! Want more The Closing Table content? Head over to our blog.