Real Estate Sales Career

REALTORS - Add A Zero to Your Income...

Add a Zero to Your Income by doing this one thing!

This one killed me. Because it was so stupid and I couldn’t believe I wasn’t doing this my entire career in Real Estate. 

And the worst part is that even after all of those years and all of the transactions… I didn’t even think about it. I stole the idea when I was visiting a friend and learning about his operation. 

I immediately started to think about all the buyer clients that I had lost over the years because quite frankly… I was doing a crappy job working with them. 

Millions of dollars in lost fees. And it could have been so painfully easy to retain them... 

Real quick, hey it’s Jeff Chubb. I am a recovering RE/MAX, then eXp Agent that now is partnered with REAL. If you have any questions about my experiences, then know I am an open book and ready to help… All confidentially of course. And if you like the content, then I appreciate you slamming that like button right down there and considering subscribing!

Okay, so what is it? What is this painfully stupid idea?

It’s texting your clients house options that you have scrubbed. 

I know what you are thinking… DUH. But it’s the system that you need to put in place to ensure that you are consistent that makes the difference. 

Consistency is key in pretty much everything in life. But you can see the difference it makes in this business very quickly!

So here is the system. You most likely have a CRM that is sending your clients...

BEST ways for Seller Real Estate Lead Generation

Best Seller Lead Sources

Working with seller’s has generally always been sexier than buyers, but with this new lawsuit… The attractiveness of working with sellers has gone up ten fold! I personally have done a 100% pivot in my new client lead generation to seller leads. But keep in mind that I have a 30,000 person database and am very strong with buyer SEO rankings. 

In other words, I am not suggesting for others to necessarily go 100% all in. 

So what are the best seller lead generation sources? I am also going to talk about a must do in order to get a positive Return on Investment with these lead sources towards the end.

By the way, seller’s are tricky. They aren’t like buyers who are a lot more up front with their intention of making a move. For the most part, seller’s like lurking in the shadows. They like staying uncommitted and will tell you that they have no intention of moving to only have their house on the market three weeks later. 

Real quick, hey it’s Jeff Chubb. I am a recovering RE/MAX, then eXp Agent that now is partnered with REAL. If you have any questions about my experiences, then know I am an open book and ready to help… All confidentially of course. And if you like the content, then I appreciate you slamming that like button right down there and considering subscribing!

Okay, so let’s talk about lead sources. 

The BEST seller lead sources are not surprisingly, the ones that cost the most. 

I have found that the best seller lead generation sources are...

Are Luxury Real Estate Agents in Trouble?

Is being a luxury agent a good thing? Or because of these upcoming changes… Are there some headwinds on the horizon and it may actually be a… bad thing. 

For years, agents that operate in the luxury market have been looked up to. Almost idolized. Heck, there are a bunch of HGTV Luxury Real Estate shows… Real Estate agents… TV Shows! Ha. 

I mean the big paychecks just make other agents drool… And some agents hate… And the general public as well... 

So does this new economic climate spell a doom and gloom scenario for some agents. 

I think the answer is yes… With a big asterisk. Let’s get into this. 

Real quick, hey it’s Jeff Chubb. I am a recovering RE/MAX, then eXp Agent that now is partnered with REAL. If you have any questions about my experiences, then know I am an open book and ready to help… All confidentially of course. And if you like the content, then I appreciate you slamming that like button right down there and considering subscribing!

So will the VERY HARD to earn gravy train continue? Let’s dissect this a little. 

It’s the new world of a decoupled fee. Now imagine you are a Ten Million Dollar buyer. You are obviously a highly educated successful business person. Would you stroke a $250,000 to $300,000 check in order to have an agent represent you?

I don’t see it. But I also don’t operate in the luxury market. I was talking with a luxury agent and he said that yes they will. And that’s my asterisk that we will get back to in a couple of moments. 

So that’s the ten million dollar buyer. Maybe that’s the ultra luxury agent?...

Real Estate Lead Generation

Best Lead Sources

I have spent well over $2 million dollars in my career on leads. They are expensive, but ultimately they are an investment in yourself and your business. 

Some lead sources are better than others. Others convert higher than others while others may cost less. 

It’s about creating a strategy. Giving that strategy some time and staying consistent. 

So let’s talk about a lot of lead sources. Let's talk about the pluses and minuses. And then in the end, I will talk to you about how I built out my company and where I saw my success. And we will talk about the lead sources that I found to be an absolute waste of time. And I will also give you some of my biggest advice that could have saved me a ton of money if I had followed over the years. 

Let’s start off with the lesser expensive ones that ultimately are great to get your business started and growing. 

Real quick, hey it’s Jeff Chubb. I am a recovering RE/MAX, then eXp Agent that now is partnered with REAL. If you have any questions about my experiences, then know I am an open book and ready to help… All confidentially of course. And if you like the content, then I appreciate you slamming that like button right down there and considering subscribing!

The free lead sources are great, but the issue is that they really can’t be scaled. So ultimately, they really aren’t free because they suck up your most valuable commodity, your time. 

The easiest one is open houses. You don’t have any listings? As a top producer...

New to Real Estate? Should You Join a Team?

Just Starting - Should you Join a Team? 

A question that I get over and over again revolves around teams. And if you are new to real estate, then does it make sense to join a team? 

It’s a tough question to answer for a couple of reasons. The first is that not all teams are created equal. So, quite frankly if it is a crappy team whose existence is to just feed the team leader that you are looking at, then it may make more sense to go it alone. 

And then if you have a little bit of undisciplined natural tendencies, then being on your own may be your own worst enemy. 

We are going to talk about all that here as we weigh this question. And we will also go over all the pros and cons of joining a team. 

Oh and in the end, I will tell you the one question that is asked, especially in the beginning, that is a sure fire way to ensure that I won’t hire you. 

Real quick, hey it’s Jeff Chubb. I am a recovering RE/MAX, then eXp Agent that now is partnered with REAL. If you have any questions about my experiences, then know I am an open book and ready to help… All confidentially of course. 

Okay… So team or not to team. 

I think a team is a GREAT idea for a new agent. There is a reason why 87% of all newly licensed agents are out of the business within 2 years. We will touch more on that in a couple moments. 

But a team offers a newly licensed agent a steroid shot and drastically increases their chances of making it in the industry. And for the record. This industry is cut throat. It is one of the most difficult out there. I know the HGTVs of the world make it look easy… But again. There is a reason that 87% of...

eXp Realty's BIGGEST Negative

Join eXp Realty? THIS is a MUST know when considering joining eXp Realty. It's the ultimate eXp Realty Complaint!

I am on record saying that the worst thing about eXp Realty are these what I call… Downline Silos. They are bad for the agents. They are bad for the company. And they ruin the company's culture. 

Yes, this is my opinion and you should definitely do your own research to see if you agree. 

But the downline silos are ultimately what will end up being the company's biggest downfall. Stick around because we are going to talk about exactly what a Downline Silo is and why they are bad and a culture killer. But I am also going to bring the receipts… I am going to show you examples of what’s going on at eXp Realty… It’s all out in the open…

Real quick, hey it’s Jeff Chubb. I am a recovering RE/MAX, then eXp Agent that now is partnered with REAL. If you have any questions about my experiences, then know I am an open book and ready to help… All confidentially of course. 

 So in a recent video, I talked about why I left eXp Realty. And the downline silos was one of those reasons. Don’t get me wrong, this wasn’t THE reason I left. It came down to being a financial decision for me, but the cultural rot of these downline silos always bothered me. To say it another way… These silos were not what pushed me out the door, but man was I happy to have that door slam shut once I left. 

So what is a Downline Silo? At eXp Realty you are an agent and if you recruit someone, then they are in your downline. Now there are some very epic recruiters at eXp that have amassed downlines of 10,000 plus people. As your downline grows, the financial rewards get bigger and bigger. So different COMPETING downlines started offering...

For Real Estate Agents: Next Home Buyer Showing - What Are You Going to Do?

What Are You Going to Do? 

So what are you going to do? The next buyer that calls to take a look at your listing or the next buyer that wants to see the house at 123 Main Street.

So what are you going to do? We’ve been trained… For pretty much forever to go jump in our car and show them that house! Made sense because we were always pretty much guaranteed compensation if that buyer was to love that house and want to buy it. 

But things changed. Now you are not guaranteed anything. Are you willing to work for free? Are you willing to use the gas in your car and take time away from your family for the very big chance that you won’t make any money for your time and effort? 

If you are just throwing a buyer in a car or just jumping to immediately show that buyer a house, then that’s what you are risking doing. 

Yes, you don’t see a ton of 0% buyer side house listings today. But come July… They all will be. 

So I ask the question, the next time a buyer calls or the next time a buyer clicks a little showing request button… What are you going to do? 

It CAN’T be jumping in the car and rushing to show them the house. You need to create a system that ensures that the buyer understands how the fee structure works and that they are paying it. And you need to let them know how much they are paying. 

And this needs to be done with EVERY buyer. Yes, the buyer may go call another agent to show that house… And the other agent may jump at the chance to show that house… But If they aren’t willing to sit down...

Will you be able to Compete?

Will you be able to Compete?

At this point, I am sure that you are aware of what just happened in our industry. Things changed overnight… Well kind of overnight. They changed, but the stay of execution has been held off until July. 

The lawsuit has made it so that the seller agent fee and the buyer agent fee has been decoupled. I have gotten a couple good laughs with people saying that nothing will change and to control your controllables and get back to the phone and call some a lead! 

But how can you say nothing has changed when there is a good chance that if YOU haven’t changed the way YOU do business that when your buyer finds a house that they love… You won’t be offered any compensation for your time and resources spent to acquire, nurture and work with that client. 

My question is how is an agent that works for a traditional model like at a Coldwell or Compass that has lower splits or someone that pays a monthly mortgage payment at a RE/MAX going to be able to compete with an agent that works for a lower per transaction cost and lower capping brokerage. 

Your questioning, how so… Right? 

The game has changed in a couple ways with this decoupling of the fees in the transaction. It’s now a game that is all about value and a person’s ability to demonstrate that value. It’s a game of competition at its finest. 

Capitalism has been unleashed in our industry. You will see a barrage of agents look to adjust their compensation models and do things to offer potential buying clients more value. This way that potential client chooses to work with them over another agent. Because the days of 70% of buyers working with the first agent they meet is gone. 

...

What Could You Do with another $1,900 a month?

What Could You Do with another $1,900 a month?

When it comes to health insurance, I never thought the possibility of saving $1,900 a month for my family of 5 was possible. Not if I wanted any type of real coverage that is…

Let’s face it, the cost of health insurance has gotten out of control. It’s something that all of us pay for, but really only something that us independent contractors really see each and every month. 

It’s crazy to think that I paid more for healthcare than I did for the Principal and Interest on the mortgage of my house. I almost paid more for healthcare than I did for not only the Principal and Interest, but also the insurance and property taxes too! 

The $3,000 a month in insurance cost wasn’t for a no deductible plan either. We had some pretty high deductibles, but I will say that all together… It was great insurance. 

Needless to say the health insurance consultation option while onboarding when I made the switch from eXp Realty over to REAL Broker caught my eye. 

I figured… What do I have to lose! The guy’s name was Jeff… So he was obviously a good guy. 

At the end of the day, our families insurance with the REAL Broker affiliated plan went from $3,000 per month down to a thousand and change. That is a $1,900 per month savings for me and my family. 

Now the insurance is different. It’s two pieces. There is a preventative insurance piece and then a separate catastrophic piece. It’s different, but the coverage was very comparable… And we save $22,800 per year. 

If you have “normal” health insurance and work...

Do You Leave a Voicemail?

Do You Leave a Voicemail?

Are you making the most out of your prospecting time with leaving the right voicemail?

Hi, I am Jeff Chubb and I wanted to share with you the proper technique as well as a successful script when leaving a voicemail to increase your conversation rates.

If you are leaving a voicemail and trying to sell yourself in the voicemal, then you are wasting your time.

A prospect will not all you back from a message where you are talking all about you or some special offer.

So what’s on a selling yourself email? What does it sound like? It would sound something like, “Hi, I am Jeff Chubb with eXp Realty. We have a proven and repeatable system that has been proven to get seller’s more money…BLAH BLAH BLAH

People do not want to be sold. They have deleted the message by the word “proven”. Don’t sell yourself. None of this is about you!

What is the intention of leaving a voicemail? It’s to get them to call you back! So think like a consumer.

So what should you do when leaving a voicemail?

You want to remove your title and leave a lot of curiosity in the message.

So what does that sound like? “Hi, this is Jeff 617-480-2600, I sent you an email. Give me a call when you have a couple minutes. 617-480-2600”

Notice I am not saying a title or anything about eXp Realty or the Chubb Realty Group.

So what are we doing here? We are putting curiousity in the air in regards to “what email?”.

It is EXTREMELY important to not leave anything else other than your phone number. No brokerage information, no website, no details about the services… Nothing.

The only point of this is to get them to call you back so you can do the selling on the phone. You will never sell anything over...

Online Leads Suck?

Online Leads Suck?

I wanted to share takj to you about the myth that all online leads are bad.

This is something I hear all the time. I also see it in facebook forum after facebook forum how bad they are.

If you are one of my competitors, then yes… Online leads suck. You are definitely wasting your money.

For everyone else, online leads when handled properly can make you a small fortune.

Consider this, yesterday I showed an $11.3 million dollar house… From an online lead! Now it wasn’t an $11.3 million dollar inquiry, we started working together about a year ago when he came in on a crappy $4m house.

Here is the crazy thing, this lead actually passed through all of our buyer agents in our lead distribution system. After no one accepted it, it was assigned to me as the systems failsafe. Because seconds matter when it comes to lead conversion… I called and set the appointment. I don’t compete with my agents, but every once in awhile will take a lead when no other agents want to work the opportunity…

When working online leads you must keep in mind that speed to lead is an absolute must. Realtor.com has done a study and found the optimal response time is within 38 seconds after the lead is generated.

38 seconds!

This is why if you are going to be investing in online leads and want to be successful then you must have the systems in place and the discipline for continuous follow up.

Keep these numbers in mind, last year a 100 million online leads were generated and there were 5 million sales throughout the United States. Online leads aren’t bad. They just take effort.

Like any other lead source, we have had online leads that have taken years to convert and others where we have written an offer on the first house they have seen. Our business...