2 Things to Do in Recession


Manage episode 341457900 series 2359581
A sorozat szerzője: Mike Cuevas, akit a Player FM és a Player FM-közösség fedezett fel. A szerzői jogok tulajdonosa a kiadó, nem a Player FM, és a hangfájlt a kiadó osztja meg közvetlenül a saját szerveréről. A frissítések nyomonkövetéséhez koppints a Feliratkozás gombra, vagy másold be a feed URL-t egy másik podcast-appra.

I know there's a lot of people right now who are scared and worried about what's going to happen with the future of the market. There's no doubt transactions are down and some people are struggling. But some people are still doing really well. What can we do to help us survive this economic shift?

Three Things You’ll Learn in This Episode

  • What is your brand?
  • What are the components of a brand?
  • Why is a brand important?


Real Estate Marketing Dude

The Listing Advocate (Earn more listings!)

REMD on YouTube

REMD on Instagram


So how do you attract new business? You constantly don't have to chase it. Hi, I'm Mike Cuevas a real estate marketing. This podcast is all about building a strong personal brand people have come to know, like trust, and most importantly, refer. But remember, it is not their job to remember what you do for a living. It's your job to remind them. Let's get started. What's up ladies and gentlemen, welcome to their episode of the real estate marketing, dude, podcast, folks. So you we don't have any guests today, you're stuck, which is good old marketing, dude, me. But we are gonna go and do a little bit of teaching today. And there's a topic that I gave this morning on a webinar that I also want to give again today, because I think it's very relevant

to today's market, and experiencing the shift that we're in. And look, I understand and I hear a lot of you guys, I know there's a lot of people already and right now there's a lot of people who are scared, worried about what's going to happen. There's no doubt transactions are down and some people are still doing very, very well. God bless you if you are. But the reality of the matter is a sales down across the board. I just saw a statistic. That is just mind boggling to me. And you might have seen it too. It's been floating around on social media. And it said that only 8% of the real estate agent population has sold more than four houses this year, folks, it is August, September, I'm sorry, not in August, it's September, September 16. As of the time of this recording right now, like for houses like you cannot survive in a business only 8%. So what are the 92% of Realtors right now are freaking getting their ass kicked. Because if you've only sold four houses in 10 months, like, you're not gonna be allowed around in this business much longer. This is going to be a hobby, definitely a part time job. Unless you're a trust fund baby, right. But most of us let's get to the reality of it aren't. So let's go through and talk about, I want to get back to the basics. And I want to give you guys some really good advice. This is what I was telling you this morning. And there's really, when it shipped like this happens, this is the second or third time I've seen this and what always happens, it's the same like I feel like I have it down to a science. It's happened every time. So I'm gonna go ahead and do it again. I'm gonna advise again, and we'll see in six months if I'm right or not, but I'm always fucking right. All right, and we'll see what happens. But the point is, is that we've already experienced a shift. And last one you did too, was when COVID happened in March of 2020. And I remember we were all scared, everything was going crazy, right? What's going to happen? What's gonna happen never know what's going on. And a lot of people went into hiding, okay, and everybody's eyeballs were glued to social media. I remember seeing at that time, okay, guys get really, really loud, because everybody's eyeballs are gonna be on social. Everyone's just gonna be stuck to their phones, on Facebook, Instagram, all these different platforms. And that's what happened like all of our kids were stuck on the damn platforms, too. I'm still trying to get my son off of it. But the point of the story being is that a lot of agents went into hiding. And the ones who went into hiding got their ass kicked. There were some agents that were super loud on social media, and every single one of them had Rockstar years. And let's be honest, the the COVID 20, when it came out of COVID, for the real estate market was 18 months of just crazy appreciation and massive price hikes across all the states. As long as you own real estate you bought in the last few years, you did pretty damn well, because the pricing was just going through the roof. But now the shift is here. And now what's going to happen, right? So, folks, when this happens, and you get loud, is the point, just like the agents who got loud during COVID, all did very well. Because I believe that the entire business is based upon the attention that you have on your brand, the amount of people that know what you do in how many conversations you're constantly having, which is why like always talking on video and being on videos, because you're always conversing with somebody, even if it's one person or if it's 300 people, your videos always working for you even while you're sleeping. So the point being is that you doubled down on brand and doubled down on content during the shift. This is what you do, alright, because you cannot count on lead generation right now the reason if you're out there buying leads, and anyone who's listening to this, if you're buying leads, you just probably got your ass kicked last month if there was a negative shift in that, right and the scary thing about lead generation when a shift comes whether you're buying leads on Zillow, or you're doing some kind of paid marketing is that when a shift occurs and the consumer habits change, so does the ROI on your ad spend because you don't know what consumers are going to do right now. So it puts you in a very vulnerable position. If you're spending and shelling out money on lead generation stuff that was working six months ago that's just starting not to work today. But the one thing you can double down down in it especially during this time is on your database on your market. Like if you have someone that's cheated on you with another agent, the last 12 month's Well, you're not doing a good enough job of staying on top of your networker database because folks, the business has always been right in front of us. 74% of all closed transactions came from someone they worked with in the past, they were referred to, they personally met, or they already knew 74% which means that this entire business is based upon the relationships and the amount of people who know you in life. There's somebody in your market right now that you're like, Who the hell is this guy? And why is this guy selling houses, I want you to think who that is. There's somebody in your office might be some other competing office. But there's some agent that you think it's a total douchebag but they're way outselling you and be honest part of it is a little envious, you're a little envious of that he like dude can hate this guy. But I also like him a lot. I sort of respect him because he's outselling me. Well, the only difference between you and him or her whatever it is, is that they just have more attention or more relationships, more people know what they do they know what you do for a living. That's one reason why they're outselling you right now, but they're not any smarter than you. They're any better than you any of that that's all just in your head. So what does that tell us? Well, it tells us be really loud, because regardless of what the market's going to do the same things, people are still going to move, like, just because there's a recession doesn't mean people don't move. However, how often they move might change, but people are still gonna move I moved, bricking a month ago, I didn't know a month and a half ago, I needed to move I just sort of happened. So this is what happens in life, some people are going to die, some people are gonna get sick. In a recession, some people are going to lose their jobs, a lot of them. And they're also going to a lot of people are going to lose some of the affordability issues with rising inflation costs and all of that people are going to get divorced, people are going to get a promotion. But whatever life happens, people move.

That's not going to change whether they're going to move because whether there's a recession or no recession, but of which though, the main point is is that 80 plus percent of those people are going to hire the first person they meet with. So it's either going to be you or somebody else. So the reason why I'm saying you got to get really, really loud is that the one thing you can do during this market right now is go right back to the basics. Because the basics always work. And then this time, don't ever ignore the basics going forward. And you'll never have a business problem, whether there's a recession or not the number one reason why so many real estate agents fall on their face when the market shifts like this happen is that they've done a shitty job of cultivating the relationships they already have in life, because if they did, they wouldn't matter if there's a recession or not, because people are still gonna fucking move at the end of the day. So it's really just up to whatever. So mindset, folks at the end of the day, and right now, I know that 90% of your competition is quitting 90% of your competition is going to fail. I just told you the stats only frickin 8% of real estate agents nationwide. We're in September, we're in the middle of September called October, only 8% of real estate agents nationwide have sold more than four houses this month. Folks, that is a fucking opportunity. If I reverse seeing one because the vast majority of those people goodbye, you're gone. I'll see you later. This is the opportunity to get out ahead and it's during shifts like this, that you actually have a bigger opportunity to get ahead, because people will remember the one who's standing tall and loud, while everyone else retreats. You see when real estate's really easy and everyone's buying a house. It's like they're taking gumballs out of a Gumball Dispenser machine, because it's hot and it's just the thing to do real estate's really easy but when the going gets tough, how easy is it? 8% for houses it's insane. That only happens to people who go into disappearing that only happens the people who hide and go into their closets The question is, are you one of them or not? You can't operate out of fear there's the thing I always say is faith over fear faith over fear faith over fear. I put my faith therefore I have no fear. So with with you guys, it's no different you have to if you believe you're the right person for the job, it becomes your obligation to let the world know about it. If not, you're just a dick. I believe I'm the right person that you should hire for personal branding video whatever the hell it is that deals with real estate because I'm the right damn person for the job. And I believe that in my heart, you'll determine whether or not you like me. But it doesn't stop me from screaming from the fucking rooftops and doing a podcast each and every every day. Look, this podcast is coming out tomorrow when you're listening to this I just shot this yesterday and there isn't a shot at last second was because I didn't have any other shows lined up. But consistency is so important that I have to keep serving my audience I have to keep making noise. And then when I'm done with this, I'm going to create two more videos because I'm out of videos to publish on my social feeds because I'm going to get really really loud right now too because everybody else is going into hiding. And when I have an opportunity to get ahead, I do it through personal brand, I do it through a lot of content creation, because I'm going to be screaming from the fucking rooftops real estate marketing dude, which is why you should be screaming from the rooftops. I'm the best Realtor in this market, you don't even have to say that you have to remind them. So when people ask, like, hey, what can you do right now, well, double down on your brand and double down on content creation, it's the least form, or the least expensive form of marketing or advertising you're ever gonna do pull back on lead generation, unless, you know, it's still providing a positive ROI. And you know, you can maintain that. If not you, that's what you pull back on. And you double down on that brand, man, because double down on brand is a recession proof business model. Because every single real estate agent that has a brand isn't suffering right now. Folks, if you need to know how to build a brand with video, go back through this podcast and listen to a lot of episodes, I'm not going to get into the weeds and tell you about how to do it. We talked about that each and every time. And you could go visit our website, because there's a lot of way you can market your database. The point is, is I just want to show you where to focus your energy. And that's going to be on your database. And let's define who that is. This is your Facebook friends, your Instagram followers, anyone and anyone you say hello to in the grocery store, or that you would be pissed off to learn that I sold them a house not you, they you need their attention. You have to stay in front of these people. And you have to be very, very loud, doing so. Now, the only other thing that I would be focusing on doing right now is developing my unique selling proposition.

See people only stand out in two ways. One is through relationships, you create a lot of content, you make a lot of noise, like hey, look at me, look at me, look at me. That's why video is so well. But the other way to do this is you got to offer something different. What do you do that nobody else does in your market? How do you make people feel after they're done working with you? So we've said we gotta go back to the basics. Yeah, go back to the basics and go back to your ingredients. And define your food. Define your menu, what are you selling? What are you offering? So let's dig a little bit deeper into that. And what does that really even mean? Mike? What are you talking about, dude? Well, let's define what you offer. What makes you any different than John smo the real estate agent at cole banker? What do you do you put a listing on the MLS, you pop a sign in the yard, you wait for a buyer to come so that Zillow can sell the listing, then you're gonna disappear until closing. That's not worth five or 6%. And wait, doesn't every other real estate agent offer the same fucking thing? This is what we're talking about right now. You have the time not only to get really loud, where everyone else retreats, but you have the time. If you're not as busy right now, there's no reason why we're not working on your business. Quit being that salesperson chasing the next check and be the business owner who's defining what the hell it is that they offer. Why can a company or even a real estate brokerage, I just spelled out real estate is prime is a referral dominated business. It comes from belly to belly relationships, at least three quarters of closed transactions do so it's not a business. It's based upon lead generation and numbers speak for themselves. It's based upon relationships. But there is a spot for lead generation. And if you want to get good at lead generation, well, you got to offer something different if you have 100 people selling the same shit. Well, that's a lot less appealing when there's verses there's only one. And when you all sell in the same shed, what is the difference between you and that John schmo. That's why people base their decision on who they work with off the relationship or the way they make them feel. So why can a company like Redfin, or purple bricks? Who was here, you know, they're gone. Now they went back and got their ass kicked back to England. But if you remember a couple of weeks ago, years ago, purple bricks was a company in interruptor that came through and started doing I think it was salaried real estate agents and doing flat fee listing and all the realtors were up in arms about purple bricks. Well, the market decided on purple bricks, but purple bricks did start transacting and the reason why they did was because they had a unique selling proposition no one else had. So what's your unique selling proposition? If you don't have one, visit our other site owner, the owner or owner advocate agent.com, owner advocate agent.com as the unique selling proposition, you know, when we our agent say hey, we're gonna go out and list the property for sale. We don't list properties for sale, we give people five to six different selling options and let them decide which is best for them. That's what makes us different. We communicate with transactional videos throughout the course of the transaction. You know, Hey, your offers accepted. Here's what you can expect next. And that's a nice little video email that will go out automatically when somebody has that milestone passed in their transaction because that I know that that experience is what they will remember, our closing gifts are very thought out and matched and they're on brand for how we make them feel throughout the transaction. There's certain steps involved in every single part of the transaction that encourages referrals and solidifies the relationships for repeat business in the future. Recruiting case studies off the different listings that we're doing. See, we're transactionally marketing, the people we're working with and to new opportunities that happened later. But more importantly, I'm focused right now on transactional and customer service and all of these other things. Why? Because there's a huge opportunity there. And when everyone in industry like ours is selling the same thing, you're a commodity. When you start doing things different, you're fucking rock star. That's the difference. Not everyone likes the rock star, it's okay. But the Rockstar always has all the attention. That's the opportunity you have in front of you right now, it's really up to you. Nobody's going to do this for you, your broker is not going to do it. And even if your brokerage did introduce some sort of new selling proposition or something that you do different, it's not yours, it's theirs. So create your own, no one's going to tell you how to do business by yourself, you work for yourself, 96% of people don't hire your broker, they're hiring you the agent, because that's whom they have a relationship with. This isn't 1984 And people are walking in off the street during floor time. Oh, I gotta go with gold banker because cold burgers been in the business for years, or, Hey, I'm only going to hire a real estate agent that wears a gold century 21 blazer.

That ship has sailed folks. The one with the most attention, or the one with the biggest selling proposition are going to be the one that wins. But why not be both. get really, really loud, create a lot a lot of content. Don't let anyone tell you otherwise and get loud, it's might not lead to business immediately. A lot of it will. But it might not. But it will eventually unless people don't like you. Because when the market does shift and turn, whoever they turn to first is the one that gets hired. And the one they're going to turn to is the one that they're going to remember. And that is all happening right now. So you have two options, you can either be really, really quiet and go to a room and hide and become part of that 8% of agents that have only sold four houses that will soon be out of business. Or you can decide to get really, really freaking loud, go back in the kitchen, work on your business model, start offering something different whether you're going to follow a multiple option selling system, like what the owner advocate like I just told you about. Or you're going to redefine the way that your marketing plan is for your listings and offer something different there. Or you're going to start maybe you're going to turn into a flat fee brokerage, I don't care what it is, but define what makes you different in terms of the level of service or how you do business because that is what people remember, they either remember your personal brand, or they remember how you transact with it. And when you combine both of those concepts together, you should have no problem ever, ever, ever, ever worried about where your next deal is going to come from because you'll have a brand that is recession proof. So folks, if you resonated with that message today, go ahead and visit us at real estate marketing do.com real estate marketing do.com And follow us on social Thank you for listening to the show over the years. We appreciate each and every one of you and we'll see you next week with another episode. Thank you for watching another episode of the real estate marketing dude podcast. If you need help with video or finding out what your brand is, visit our website at WWW dot real estate marketing do.com We make branding and video content creation simple and do everything for you. So if you have any additional questions, visit the site, download the training, and then schedule time to speak with a dude and get you rolling in your local marketplace. Thanks for watching another episode of the podcast. We'll see you next time.

Transcribed by https://otter.ai

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