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Running Your Real Estate Business with an Abundance Mindset

The difference between the millionaire real estate agent and the average real estate agent isn’t education, experience, or industry knowledge. It’s their mindset. The number one thing you can leverage to gain an advantage amongst the competition is your mindset. Millionaire agents live in abundance. Every single day!

A simple paradigm shift can propel an agent from rags to riches. It can skyrocket your sales and the growth of your business. Changing your paradigm doesn’t cost you a single penny either. All it takes is some effort and persistence. If you can change your mindset from one of scarcity to one of abundance, your entire world can change overnight.

The Abundance Mindset

What is the first thing you focus on in the morning? Is it the fact that you’re already running ten minutes behind, or the fact that you get the chance to live another amazing day on this planet? A person who lives their lives in abundance don’t believe in cup half empty or cup half full, they believe in a cup that’s overflowing with opportunity, money, time, and happiness. They believe that there is enough for everyone!

By altering your daily thoughts, it’s very likely to experience an unlimited amount of happiness. There may be some skepticism, which is always appreciated. We were all skeptical about it at first, but the most successful people in every industry live in a state of abundance.

Why the Abundance Mindset is Crucial In Real Estate

Peace of mind and happiness is the reason that most people go into the real estate industry. Living in a state of abundance allows you to have unlimited peace of mind and happiness, not only in your career, but in your life as well.

An average agent’s mindset is typically one in scarcity. These agents are always chasing leads, trying to get to the prospect first. When they don’t, they believe that another agent will swoop in and steal the client. They constantly believe, “I have to do a perfect job or someone else will take the client”.

This is the textbook losing mindset. If you’re looking for success and happiness in your real estate career, you need to realize that there is more than enough opportunity for every single agent in your market. Doing the right thing is always the right thing. Work hard, be yourself, stay positive and your real estate business will explode. Stop worrying about losing opportunities and focus your energy on the next opportunity that will come. Continue to anticipate leads coming in and growth in your business, the leads and growth will start to follow.

Staying in a state of abundance is difficult and takes discipline and willpower to stay in the mindset. If you focus on past failures, memories, or mistakes you will quickly goof yourself and fall out of that mindset.

Every human gets down on themselves and puts themselves in a funk by focusing on the struggles you’ve experienced. The agent that stays in the state of abundance the most, typically has more longevity, more success, and more happiness. Here are 5 tips to establish a mindset of abundance.

5 Keys to Establishing a Mindset of Abundance

  1. You Are Who You Surround Yourself With

When you talk with a Millionaire Real Estate Agent, they will tell you, once you change your mindset it will result in a complete change of your lifestyle. The next step is to audit the people you mostly choose interact with. The individuals who don’t want you to grow without them, scoff at your goals, or put any negative energy towards your growth at all need to go!

SO many agents choose not to separate from the negative entities surrounding them, ultimately hinder your potential growth. Poisonous habits and lifestyles attract people with the same mindset. Just like success attracts success, failure attracts failure. Auditing your sphere can really open your eyes to the negative energy that you choose to surround yourself with.

Start with something small, like complaining about the traffic or the market and see who joins the conversation in your office. Just watch as the negative people join in on the complaining and observe how the successful agents in your office won’t even join in on the conversation because they’re focused on the great things in their life.

If you’re consuming negative content, like the news, more than you’re consuming positive content, you need to reevaluate what you’re consuming. Surround yourself with people who lift you up, motivate you, believe in you, and want the best for you. Those are the winners and those are the individuals who can help you propel your career to the next level.

  1. Use Scarcity as an Opportunity

Over the course of building your business, you’ll find yourself short on resources. Whether it’s cash flow, employees, workload, scarcity in my life has been able to teach me to recognize scarcity in my life as an opportunity to assess my weaknesses and improve.

Rather than focusing your energy on the low inventory in your market, always focus on what you can control. Reverse engineer your current business situation and learn from how you got there. Could you have prepared for this? Were there any indicators that could have prepared you? Use this as an opportunity to speak with your industry leaders, learn more about your market and community, or even implement winning systems into your business. Use scarcity in life as an opportunity to improve.

  1. Anticipate, then Adapt

When an agent waits for something in their business to happen, they become completely passive and disengage quite quickly. By anticipating for things, you produce a sense of excitement and expectation for something to happen.

The top agents in your market who anticipate positive things, typically prepares for positive things. By waking up each day and anticipating a successful day, you put yourself in a position to start attracting major success and growth in your business and personal life. Learn your market and the prospective buyers and sellers that come with it, allowing yourself to anticipate your clients needs before they’re aware of them. Positioning yourself as a local market expert.

  1. Act Now

We’re humans, and when humans feel beat down, it’s much easier to put off certain aspects of running a business or avoid facing dreaded challenges. Every business owner has some type of resentment towards some aspects of running their business, and they’ll put them off towards the end of the day. We all know what happens when we put things off, they never get done! How do you expect to grow your business when you continue to damage your own success.

By prioritizing the tasks that you despise most, you can conquer them early and ride the positive vibes the rest of the day. All it takes to get over the hurdles and get through those dreaded tasks is a shift in your paradigm. Change the way you think about each task and take care of them right away. I used to hate cold calling, but I knew that if I just made one more call, I’ll set an appointment. I would always make one more call and I’d always set that appointment. It’s a mindset and belief in the universe. Trust that it will come and it will come. Your business is not going to grow itself! Start right now, tomorrow is never promised and may never come!

  1. Be You and Stay True to You

Rather than wishing you had a million followers, embrace who you are and who you want to become. Embrace your personality and be you! By staying true to who you really are and what you truly believe in, you can establish a closer relationship with your community and create longevity in your market. Being yourself allows you to tap into your true self and establish a very unique relationship with your community.

Millionaire agents don’t share their accomplishments as much as they share their failures and losses. It allows them to prove to their community that they’re human, they make mistakes, and it’s all apart of the process. Many people in your community will be inspired by your failures more than your accomplishments.

Every human is unique in their own way. Share your unique story and you’ll be able to identify with a specific niche market and establish a loyal following. For example: if you’re a millennial who just got their real estate license, you might be able to identify with first time home buyers.

Implementing a Daily Abundance Mindset

When starting to train your mind to live in a state of abundance, it takes daily discipline. I always keep a daily gratitude journal with me at all times. I’m always writing down things that I am grateful for. Remember that it is physically, mentally, and spiritually impossible to feel grateful and upset, sad, or angry at the same time. You can’t do it. By making a gratitude list every day, you’ll be attracting positive energy and stay in a positive mindset. You’ll accept daily stresses and become grateful for them.

My mindset is: I’m grateful for the bills that come to my house every month, it means that I have a roof above my head. Billions of people all over the world don’t have that. I’m grateful for traffic to and from work every day. It means that I have a job to help pay for my bills. Millions of Americans would kill to have a job. How can I let some things that don’t matter control my emotions when I’m living a life billions of humans would die for?

Write down all of your accomplishments and stick them on your office wall. Remind yourself that you really are truly amazing and there is no ceiling to my success. I live in abundance. By surrounding yourself with your own accomplishments, you start to believe in yourself and your dream. “Damn, I really CAN do this!”

By changing your paradigm, you WILL change your life completely over night. View everything as a blessing and everything becomes a blessing. Remember that you chose the life you have, be grateful for the struggles and be grateful for where you are.

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The Law of Reciprocity in Real Estate

Have you ever felt the need to do something nice for someone who has helped you – even if they haven’t asked you to? Social psychologists call this feeling the Law of Reciprocity and it’s one of the most powerful influencing methods in business and is the very core of any successful Real Estate Agent.

Reciprocity is a great way to attract more listings, but many agents tend to focus their attention and dollars on lead generation services that promise the moon and never deliver. The harsh reality that many agents refuse to believe is that converting multiple leads into motivated clients takes months of nurturing.

The key to nurturing these leads and converting them into lifelong clients is learning to build relationships with each lead. If you’re taking the time to cultivate strong relationships with everyone you work with, the law of reciprocity will be your greatest ally. You’d be able to attract the quality leads you’ve been chasing, spend more time on the leads that have the greatest ROI, and create more opportunities as you build and develop a strong database.

The Law of Reciprocity – Defined

Reciprocity is one of the six principles of persuasion that highly successful businesses and real estate agents swear by. When we give to others without expectations of anything in return, other feel obligated to reciprocate. It can be as simple as offering to pay for their coffee, holding the elevator for someone or offering to go the extra mile, bring out an emotional response of gratitude. The overwhelming feeling of gratitude motivates humans to reciprocate.

3 Types of Reciprocity

Financial Reciprocity: paying for coffee, covering an expense, others feel obligated to return the favor

Emotional Reciprocity: compliment people and making them feel good and feel obligated to reciprocate the emotional feeling

Material Reciprocity: physically helping someone (jump starting their car) and they want to reciprocate

Whether your clients are a young family looking for their perfect starter home or retirees in search of the perfect retirement home, your clients are people taking an enormous risk to pursue their vision of prosperity.

Relationships you build with the people in your database are the foundation to your businesses success. Buyers and Sellers in search of a home are people who have dreams, hopes, and passion. You’re not selling homes, you’re selling an experience!

If your client is motivated to buy or sell, it’s because you have built a relationship of trust with them, not because of your superstar sales skills! They put the trust in you to help them achieve their real estate dreams!

Your focus should be on these three key areas:

  1. Motivation: Search for ways to motivate and inspire your database and local community with positive messages, connect with local influencers and successful people in your community.
  2. Knowledge: Write consistent blog posts, create infographics and tips for buying or selling real estate.
  3. Financial: Find other professionals in your industry who can help your prospects save precious dollars on their current wants and needs!

By implementing a drip campaign, you can routinely schedule email delivery to targeted clients in your database. You need to stay top-of-mind with your clients and it will lead to a greater contribution of referral business!

With consistent relationship building efforts, word will spread about you and your brand and you’ll create more opportunities than you can handle!

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Basic Title Insurance vs. Enhanced Title Insurance

There are few things more important than protecting your home! Even the best Title Examiners and most extensive title searches cannot protect your equity and your home from matters that may not appear in public records.

A very small percentage of people in the real estate industry know that, like other insurance products, Title Insurance has products that offer a wide range of different coverage.

title search is necessary when you’re either purchasing or refinancing a home. Title Insurance protects the owners and lenders against any property loss or damages that they might experience because of any encumbrances, liens, or defects in the title to the property. Each title insurance policy is subject to specific terms, conditions, and exclusions.

By understanding the key differences between Basic Title Coverage and the Enhanced Title Coverage, it will help you make a more educated decision on which option works best for you and your needs.

There are two major key differences between these two types of coverage:

Basic Title Insurance Coverage

As the name suggests, the basic title policy covers just the basics. That includes protection against the following potential claims or red flags!

  • Claims that other parties own the property
  • Fraud, Forgery or any other wrongdoings
  • Mistakes or errors in the Public Records
  • Unknown heirs claiming interest in the property
  • Liens or Encumbrances on the title
  • Gap Coverage

Enhanced/ Extended Title Insurance Coverage

Enhanced Title Insurance policies include everything that the basic title insurance covers and adds protection against a number of additional potential risks.

  • Liens against property
  • Any zoning or building permit issues
  • Covenant restrictions and corrections
  • Any subdivision violations
  • Lack of access to property
  • Supplemental tax assessments
  • Encroachments of structures onto property
  • Encroachments of your buildings onto a neighbor’s property

Although an enhanced policy is roughly 10% higher than the basic policy, it’s a small cost to the homeowner. The ability to considerably reduce their risk on one of the largest investments they will make is worth choosing enhanced coverage over basic coverage.

If you would like more information on the differences between a basic policy and an enhanced policy, please feel free to contact me at jnichols@libertytitle.com.

Establishing Yourself as a Neighborhood Expert on LinkedIn – Presentation

Establishing yourself as a neighborhood expert on LinkedIn

3 Things That Every Agent Should Master on Instagram

Instagram is steadily becoming the social media platform that covers the widest range of demographics and captures the largest group of audience attention compared to other social platforms. Real estate agents are continuing to use the platform, but it’s time to be more strategic with you Instagram habits, in the real estate industry. Here are 3 things that every agent should master when they’re on Instagram:

The Art of Instagram Stories

I read this in a blog today and I felt it was worth doubling down on – “Think of your newsfeed as the cover to your book and the IG stories are the pages contained inside your book”. Your newsfeed is going to attract new followers to your account, but your stories will turn your followers into raving fans, by deepening your relationships! Make your followers feel like they know you on a personal level with IG Stories.

Make your stories fun and engaging. Give your followers some human interaction and bring them behind the scenes of your real estate business. Show them how you’re staging your new listing. Bring them to an open house or evening a networking event that you’re attending.

Getting Comfortable Making Video Content

80% of the content that is consumed on the entire internet is video content. If you’re not comfortable on camera right now, start with using videos on your IG Stories. Stories provide human experience, it’s okay to be raw and unedited. Be yourself and be authentic.

Use video content to bring value to your following. If you’re at a showing and a buyer just asked you 7 questions, take to video to answer those questions to educate other buyers who may have those same questions. If you’re at an open house, bring the open house to them using IG Live and do a “MTV Cribs” style video! I promise it’ll work and you’ll get over the scary feeling of recording yourself.

Instagram Story Highlights

Stories on IG only last for 24 hours, that’s why they keep the attention so well! Highlights allow you to save those IG stories forever. A great strategy to do is creating different highlights for each pillar of your business.

One can be all of the videos of your listings. One can be your testimonials of happy clients. Another can be buyer or seller tips that you’ve created for the past 12 months. Another can be introducing your team to the world.

If you post something on your story and feel like “damn, that’s a good piece of content”, then add it to your highlights!

Monday Marketing Minute 006 – It’s Going Down in Instagram Stories

Hey everybody, Ann Arbor Title Guy here with your Monday Marketing Minute presented by State Street Title Agency. This week we’re going to talk about 2019 Instagram Trends in the Real Estate Industry.

First off those of you who don’t have an Instagram account yet, stop this video right now and create one! It’s 2019, you need to be on Instagram! Every real estate business on Instagram has one thing in common: the desire to increase their Instagram engagement.
The combination of IG users following more accounts, watching more stories, and the IG algorithm prioritizing personal content, means regular post feeds just aren’t getting enough attention as previous years.
It’s time to change your definition of “Instagram Engagement” and focus on engaging with your followers through Instagram stories rather than regular feeds.
400 million people are watching IG stories EVERY SINGLE DAY. So, when it comes to increasing engagement on Instagram, instead of focusing on how to get more likes for your newsfeed, start turning to Instagram stories!
Thank you so much for joining me today! If you’d like more information on how to use IG stories in a practical way, visit the link in the caption! Have a great day!
For full video CLICK HERE

Monday Marketing Minute – 005 Leveraging Relationships for Great Content

What’s up everybody! Ann Arbor Title Guy, here for your Monday Marketing Minute presented by State Street Title. The winter months present a great opportunity to create great content for your website and social media channels.

Most of you have already established relationships with local business owners, local politicians, and community personalities. Leverage these relationships by interviewing them. Document the conversation via audio, visual, or in written blogs. Talk to them about their love for the community, their journey as business owners in your community, and what make them and their business unique.
By documenting this conversation, you’re putting out great content for members of your community to fall in love with. Not only are you driving traffic to your websites and social media channels, but you’re also providing value to the person and business you interviewed.
Providing value and increasing exposure of both your business and theirs, opens the door to many opportunities for both parties. Think of yourself as a media company in the winter months. With consistency and creativity, it will organically lead to massive growth over time. Thank you for your time today! I hope you enjoy!

What Millennial’s Really Want for their Real Estate Agent

Millennial’s are going to be the largest generation of buyers and sellers over the next 60 months, more than any other generation. At least that’s what the experts say. Yes, we’ve all heard it.. Millennial’s this. Millennial’s that. But nobody really tells you what Millennial’s expect when working with a real estate agent.

I’m here to help inform you of what Millennial’s look for in a real estate agent. As a millennial, myself, I can firmly stand by these next few characteristics that agents should have to attract Millennial buyers and sellers.

Someone who is always available to answer a quick question

Millennial’s communicate all hours of the night. They expect to be able to communicate with their agent the same way. I’m not saying they’re going to call you at 3:00 am, but I am saying that if they text you at 9:30 at night. They expect a quick text back of acknowledgement. If you can’t answer their question or problem right then, simply let them know. Communication is key in every relationship, especially millennial’s. To give yourself time during these specific situations, write up and post some articles with frequently asked questions on buying or selling on your website that they can reference.

Someone who offers in person experience and education (Experiential Marketing)

This may come as a surprise to some of you, but millennial’s love in-person classes, training, or other educational or entertainment events. In the marketing world, this is called experiential marketing.

This is a great marketing approach to nurture relationships, as well as open up many opportunities to create new relationships. Keeping in touch with your sphere, past clients and their potential referrals is a key in sustaining growth.

Kiko Adasi a Successful team leader in DC hosts bi-monthly happy hours in different neighborhoods. They’ll host VIP wine tastings and brunches and will also host an annual party where their Millennial clients and prospects can interact with their past clients from other generations in a casual atmosphere to connect on a personal level.

They do this not to try and sell a house, but to position themselves a resource for their clients in networking and in home buying/selling. They have a close relationship with their past clients and they continue to choose to spend time with them outside of work before and after they find their dream home.

Someone who is perceived as authentic online

Millennial’s don’t need you to tell them if you are ‘awesome or not’, they can google that. They want to know whether you can give them a product that they want and expect. Millennial’s can be very skeptical, they are the ‘most marketed to generation in history’. The best way to reach them is to be loud and authentic where they can relate to you.

This means that they will expect you to be active on social media, but you should also offer a presentation that is very real and authentic. There is a reason why some YouTube celebrities who film everything on their iPhone and have millions of subscribers.

Someone who has EVERYTHING they need on their website

The internet has commoditized everything. Millennial’s are looking for accessible information. Now that information is at the tip of their fingers, they will research everything that they want.

This means that having a mobile friendly IDX is important. But more importantly, they want someone who is knowledgeable and can get the answers to everything they need. Like, neighborhood stories, market stats, tips for buying and selling.

Confidence and Friendliness

According to a study done by Century 21, 82% of Millennial’s shared that when they are looking for an agent, it would be important that they could socialize with their agent, aside from doing business with them.The two personality traits millennial’s ranked as the most important that their agent have are Confidence and friendliness. 42% considered recommendations from friends or family members.

Someone that can help them plan & find turn key homes

Millennial’s have spent significant portion of their house hunting and pre-house hunting life watching home remodeling shows. They love and expect properties that look like “after” homes and will pay top dollar for it.

Because their lifestyle is so busy as their trying to establish a career, they don’t typically revolve around a home. Coming from a personal experience, they are typically used to living in apartments with leftover Ikea furniture from their college days.

 

Someone who provides educational content on their website

It’s no surprise to anyone that Millennial buyers are online looking for answers and information about buying a home. If you can provide quality articles that truly answer their common questions, you can dramatically increase your chances of being their agent.

Nathan Garret, a Louisville Premier Agent had five first time home buyers reach out them because they were searching for things in his market. Here is an example of his website content – CLICK HERE

 

Monday Marketing Minute 004 – Taking Advantage of ‘Adult Snow Days

In Michigan, the weather is unpredictable, especially in the winter. One minute you’re driving to the grocery store in normal weather and the next minute there is 6 inches of fresh powder covering your car. These sudden weather changes can create a disruption in your schedule. Snow is a perfect example of the many disruptions that agents face in their daily schedules. When an appointment is cancelled or a change in your schedule occurs, pockets of time open up in your schedule.

Adult snow days are a fantastic opportunity to do the things that your competition isn’t doing. Find ways to spend your day prospecting, marketing, and lead generating. You can also use this time to farm your current database. Remember, when schools are closed, most of the parents are home with their kids too. This gives you more opportunities to reach out to your database and follow up with you warm/hot leads.

A few examples of marketing you can do today, that your competition isn’t doing are:

  1. Revisit and reflect on your 2019 business plan. Are you currently on track? What’s worked well so far in 2019? What do you need to improve on moving forward? Use this time to take an extra look at your business plan and hold yourself accountable.
  2. Make your prospecting phone calls. I can guarantee you, my step dad is on the phone right now with his existing prospecting pool, trying to set appointments. Like I said before, a lot of your clients/prospects are home from work today too. When the snow storm is at it’s peak is when you’ll have the greatest opportunity to for conversations.
  3. Write 10-15 handwritten cards. Write these cards to previous clients you haven’t spoken to in a while. Write these cards to prospects you’ve talked to or met with so far in 2019. When you write these cards, make sure to add something important about them that will make their eyes light up. For example, a client of mine is a avid soccer fan with a daughter who plays for Miami OH. When I wrote him a card, I congratulated him on his daughter’s most recent 2 goal game at Miami, OH. When I saw him next, he told me that he still has the card and it makes his eyes light up every time he reads it.
  4. A great way to provide value to your community without spending a cent is to grab a shovel and shovel your neighbors driveway or sidewalk. Find opportunities to save your immediate sphere time in their day. Karma is practical and doing things without expectation will result in massive growth.
Thank you for time today! I hope that you all have a safe and prosperous Monday!