In our recent webinar with Workman Success Systems, coach Verl Workman and CEO Ryan Young shared valuable insights on why listings are the key to career longevity, a predictable pipeline, and earning more income.
Here are the five big takeaways from the webinar that can transform your approach (or watch the full webinar in Fello Academy. If you're not a Fello user yet, watch here):
CEO Ryan emphasized the importance of shifting toward a listing-focused business model. He shared that his team aims to be over ~60% listings (while still servicing all buyer/seller needs) which gives them greater scalability and profitability.
Ryan’s Tip: Set a goal to increase your listing percentage. Analyze your current business mix and create a plan to shift toward more listings gradually, perhaps with month-over-month goals. This might involve reallocating marketing resources or adjusting your prospecting efforts.
Ryan and Verl both focused on the untapped potential within your existing database. Ryan shared that at Fello, we’ve seen that at least ~5% of contacts in any database will list their home every 12 months. It's a muscle and habit to nurture your database, grow it, and keep the data up-to-date and accurate.
Verl’s Tip: Implement a "3-2-1" system in your daily routine to nurture contacts and grow your database organically:
With today’s higher interest rates, homeowners can be wary of listing their homes because they’ll “lose” their 3% interest rate from several years ago*. Verl introduced the concept of offsetting interest rates through a variety of financing strategies.
Verl’s Tip: Develop an “Interest Rate Offset Program” by presenting homeowners with strategies like mortgage or interest rate buy-downs, seller concessions, builder concessions, and other financing and negotiation tools at your disposal. Create a simple and easy-to-explain presentation to show how you, as their agent, can help offset the impact of a higher interest rate, making it easier for homeowners to sell.
*As Tom Ferry stated in our June webinar, a great script to use with rate-wary homeowners is: “If your interest rate is the thing you love most about your house, we should talk.”
Ryan and Verl also discussed how to turn potential obstacles, like the recent NAR class action lawsuit, into advantages.
Verl’s Tip: Educate yourself on NAR and other market challenges, and write scripts to address client concerns. You can also create a simple presentation that explains how the recent changes in the industry can benefit your clients.
Both Ryan and Verl emphasized the importance of constantly honing your skills, especially in a changing market. As the market changes, you need to be ready to address the questions about it and understand if those changes affect your business model.
Ryan’s Tip: Set aside time each week for role-playing and script practice. He suggested using AI tools or practice partners to simulate challenging client scenarios, focusing on improving your ability to overcome objections and guide conversations toward setting listing appointments.
Verl’s Advice: Verl cautioned that transitioning to a listing-focused business takes time, but if you got even 5 listings in the next 30 days, it would be game-changing for your knowledge and your business. And all the listings you didn’t get are going to start forming your pipeline in Q4 and into 2025.
Ryan and Verl agreed success in real estate comes from consistent action and implementation; it doesn’t happen overnight. Growth takes time. Take these tips, adapt them to your market and business, and commit to putting them into practice (it helps by stating your goals on social media — you’re accountable and get a cheering section). By focusing on listings and continuously improving your skills, you'll be well on your way to increasing your income and achieving your real estate goals.
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Looking to implement any of these strategies or tips in your Fello dashboard? Reach out to your Customer Success Manager or email success@hifello.com.
If you want to see how Fello helps you activate these strategies to uncover seller leads in your database and get more listings, book a demo personalized to your business, whether you're a solo agent or a mega-team.