Becca Locke Reveals Her Secrets to Real Estate Success
On this episode of The Closing Table, we sat down with Becca Locke!
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 Becca Locke…
The conversation started with Becca’s perspective on successful transactions. She emphasizes that the best deals are those where each party feels they’ve gained something, a sentiment that defines her approach to real estate.
Becca’s journey into real estate started nearly two decades ago after a career in music, an industry where many colleagues were also obtaining real estate licenses for supplementary income. Initially, she joined a team as a buyer’s agent but faced challenges with lead generation. Training with Craig Proctor’s Quantum Leap system and attending conferences helped her find her place in the industry. Eventually, she left her team to establish her own business, overcoming significant hurdles during the REO property wave, where she not only built a thriving business but also took on leadership roles.
As her career evolved, Becca managed Keller Williams’ Seattle office and later became the first employee at Compass in Washington. Returning to sales after her time in leadership was a full-circle moment, allowing her to apply her insights to her own transactions. She acknowledges the industry’s transformations over the years but continues to find joy in her work.
The discussion transitions to negotiation, with Becca stressing the importance of empathy. She believes a successful negotiation is not about one side winning, but rather both parties feeling satisfied. Effective communication and a win-win mindset are essential to her negotiation style. Transparency is also key; by openly discussing challenges, she builds trust, helping all parties make well-informed decisions.
For first-time homebuyers, Becca advises them to ask questions freely. She stresses that clients should feel comfortable and supported, emphasizing that no question is too small in such a significant transaction. If buyers feel uncomfortable with their broker, she recommends reconsidering the relationship, as trust and responsiveness are crucial.
Discussing the role of brokers, Becca encourages clients to understand their broker’s offerings, including the types of services provided and fee structures. Knowing the market value of a home, grounded in accurate data, helps clients make informed decisions rather than relying on emotional attachment.
Preparation is key for sellers. Becca suggests keeping the home presentable and highlights the value of landscaping, as it can significantly impact buyer interest. She also shares insights from challenging transactions, including the potential in renovations and targeted marketing strategies.
One of Becca’s success stories involved a cottage in Seattle listed “as is.” After some improvements, the property received multiple offers, resulting in an enthusiastic response from the sellers. She contrasts this with a cautionary tale involving a client who fell victim to a wire transfer scam. Becca underscores the importance of verifying wiring instructions to avoid similar situations.
Reflecting on her career, Becca emphasizes the importance of managing a CRM, noting that a strong database is foundational for repeat and referral business. While marketing tools have evolved, the basics remain the same—consistent database management and lead generation efforts are essential.
Becca also dispels myths about real estate, pointing out that brokers are more than just “door openers.” Experience and professionalism are crucial in handling complex transactions, and clients often underestimate the expertise required.
In discussing current industry challenges, Becca mentions new agreements around representation and touring that may confuse clients. She stresses the importance of brokers having a clear elevator pitch to convey their value.
Becca encourages brokers to carve out their unique niche and take ownership of their business. As independent contractors, they are responsible for creating their own brand. She highlights the importance of social media as today’s business card, using platforms to communicate value effectively. Tools like AI can help with content creation, though she advises making content personal and authentic.
Looking ahead, Becca shares her personal goals, including plans to buy her first investment property and a growing interest in helping clients with design and renovation. She’s also excited about working alongside her family, adding a personal touch to her ongoing commitment to the real estate industry.
Check out Becca Locke:
https://www.instagram.com/locke_realestate/
https://www.facebook.com/people/Becca-Locke/100076340299886/
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