Posts in MailBag
How To Assess Your Client's Home Value? | MailBag | Q&A

✉️ MailBag ✉️

You ask questions, and I answer them. This week, the question is, "How do I properly assess my client's home value?" Jessica L.

Here's the technique I've used for years--bracketing. Bracketing is also used by real estate appraisers and encompasses preparing comps as well as a range of values for the property.

First, I prepare a few comps before meeting the seller, and then present three different price points around the home's true street value:

👉 Below market value

👉 Right at market value

👉 Above market value

This method takes the pressure off you, the agent, and allows the seller to feel ownership over the process.

❤️ PL

How to Market Your Real Estate Business | MailBag | Q&A

✉️ MailBag ✉️

You ask questions, and I answer them.

This week, the question is, "As a new agent, how much marketing and promotion should I do to grow my business?" - Larry B.

When I was a new agent, I went all in with social media. I spent every last dime I had on social media marketing. Creating original content that shows who you are as a human being and a real estate agent. People run towards similar people (their tribe). People can't run towards you if they can't SEE you or know you. How much? When you're first starting out, everything but food and gas should be spent on your career.

50/50 rule: 50% of your time learning about your craft and 50% actually doing it.

Immerse yourself.

❤️PL


How to Avoid the Wrong Partnerships | MailBag | Q&A

You ask questions, and I answer them. This week, the question is "What are the potential downfalls of entering into the wrong partnership?"

Much of my answer to this really boils down to acting vs. reacting. If you are wanting to enter into a partnership because you aren't hitting your goals, you might end up disappointing two people instead of one.

I would only recommend getting a partner if you have so much business that you can't handle it all yourself OR your potential partner could contribute to the partnership in different and valuable ways.

What are your thoughts on this? If you have a partner-in-crime, tag 'em here and share the love.

Thanks for being part of the rebellion and for being here ❤️ Pete

How To Improve Your Negotiation Skills - MailBag

✉️ MailBag ✉️

My weekly Magic Minute is taking a bit of a hiatus, and in its place, I'm doing MailBag: You ask questions, and I answer them.

For our first MailBag, the question is "What are your top tips to improve negotiations?" I freakin' love this question!

Here are my top 3:

👉 Always keep a cool head. When deals become adversarial, they fail.

👉 Always be transparent with your client. Even (especially) when it comes to bad news.

👉 Always make your clients interest the North Star of every deal. Do not worry about the commission or anything other than what's best for the client.

Ping me on IG or Twitter with your questions and I'll start chipping away at them here!

Thanks ❤️ PL