Episode 28 - How to grow the cash flow in your real estate business!

22/05/2024 29 min Temporada 1 Episodio 28
Episode 28 - How to grow the cash flow in your real estate business!

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Episode Synopsis

### Podcast Episode 28: If You List You Last#### Introduction- Host: Bob Mangold, the Listing Coach- Episode: 28 of the If You List You Last podcast- Acknowledgements: Thanks for sharing, listening, and downloading#### Recap from Last Week- Topic: Setting the foundation for your business- Focus: Developing the business you want, not dictated by the company or market- Example: Leveraging eXp Realty’s global presence for work-vacations#### Main Discussion- **Business and Life Integration:**  - Plan business around your life  - Maximize tax-deductible opportunities during work-vacations- **Increasing Revenue:**  - **Focus on Listings:**    - Listing agents vs. buyer agents: efficiency and profitability    - Strategy: 21 listings/year to make $250,000 with 210 hours of work  - **Market Share:**    - Becoming the "mayor" of your community    - Importance of putting pictures on signs- **Systematic Prospecting:**  - Daily goal: Talk to 10 potential sellers or referral partners  - Building targeted databases  - Circle prospecting for open houses- **Leveraging Referral Partners:**  - Building relationships with divorce attorneys, estate planners, etc.  - Adding 100 new people to your database monthly- **Marketing Strategies:**  - Frequency of online presence  - Use of Facebook, Instagram, and Google Network ads  - Email campaigns: newsletters and hot deals- **Growing Revenue:**  - Strategic partnerships and database hacking  - Acquiring real estate and agents for overrides#### Mortgage Market Update- Recent economic data: Inflation, Producer Price Index, CPI- Current mortgage rates: ~7.5%- Common misconceptions about conventional loans- Importance of educating clients about loan options- Economic trends: slowing economy, consumer spending down, delinquencies up#### Consumer Insights- Understanding inflation impacts: Housing and insurance costs- Rent dynamics: Renewing leases vs. new leases- Owner's Equivalent Rent and its impact on inflation statistics#### Practical Tips for Agents- **Content Creation:**  - Educating clients on loan types and market conditions  - Building expertise and gaining views- **Prospecting and Marketing:**  - Systematic approach to contacting potential clients and referral partners  - Importance of consistent and frequent marketing efforts#### Closing Remarks- Invitation to join the Real Estate Asset Advisors Facebook group- Announcements of upcoming training classes on Facebook Live or YouTube Live- Encouragement to download Bob's book for more detailed strategies- Reminder: If you list, you last and make more money#### Call to Action- Engage with the podcast community- Implement discussed strategies to grow your real estate business- Plan and systematize your business for consistent and recurring revenueJoin our Facebook Group at: https://www.facebook.com/groups/realestateassetadvisorsVisit our website to watch replays of our Wednesday "Elevate Business Briefings" at: www.RealEstateAssetAdvisors.orgDownload a copy of my book, "If you list, you last!" at www.IfYouListYouLast.com

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