What do you want to be when you grow up?
With special guest: Tony Johal

Episode 14 of "The Business of Real Estate" podcast, hosted by Lynn Hoffmann and Eric Johnson, features a guest with a diverse background in real estate, Tony Johal covers everything from residential sales to commercial, brokerage ownership, and franchising.

He emphasizes the importance of understanding one's motivations for career changes and highlights the need for careful planning and reflection before making big decisions. Tony advises agents to only expand into team leadership or new ventures if they have an overflow of business. He also underscores the value of coaching, mentorship, and alignment with forward-thinking companies.

The episode offers insights into balancing personal sales with team management, the power of consistent branding, and the importance of tracking marketing efforts.

For more information or to request any materials mentioned in the episode, contact us at: tbore@rmxemail.net

Unique Value Proposition

In Episode 13 of "The Business of Real Estate" podcast, hosts Lynn Hoffmann and Eric Johnson discuss the importance of having a Unique Value Proposition (UVP) in the real estate industry. They emphasize that many realtors struggle to clearly define what makes them stand out. The key points covered include:

1. Defining Your UVP: Realtors need to understand what makes them unique and focus on their strengths rather than trying to appeal to everyone.

2. Standing Out: It’s important to go beyond standard offerings like high-quality photos or drone footage by providing exceptional service that truly differentiates you from competitors.

3. Consistent Communication: Regular, consistent communication and delivering on promises are vital for building trust and maintaining client relationships.

4. Feedback and Improvement: Asking clients for feedback helps in refining your UVP and improving your service.

5. Value in Teams: Team leaders and brokerages also need a clear UVP to attract and retain team members, ensuring everyone understands the value provided.

The episode concludes with a reminder to continuously refine and communicate your UVP to succeed in real estate.

For more information or to request any materials mentioned in the episode, contact us at: tbore@rmxemail.net

Overcoming Objections

In this episode of "The Business of Real Estate" podcast, hosts Eric Johnson and Lynn Hoffmann dive into the topic of overcoming objections in the real estate industry.

They emphasize that objections should be seen as opportunities rather than roadblocks. Lynn introduces the "LIMBS" approach (Listen, Isolate, Mirror, Solve) for handling objections effectively, while Eric highlights the importance of isolating the objection to avoid a barrage of concerns from clients.

They discuss various strategies, including the importance of preparation, practicing responses, and understanding the underlying reasons behind client objections. The episode also touches on the value of empathy, maintaining a positive mindset, and the significance of clearly communicating the value proposition to clients. Both hosts agree that handling objections with confidence and skill is crucial to success in real estate.

For more information or to request any materials mentioned in the episode, contact us at: tbore@rmxemail.net

Open Houses – Cracking the Code

Welcome to episode nine of The Business of Real Estate podcast with Lynn Hoffman and Eric Johnson. Today we're discussing open houses, improving them, and maximizing their effectiveness. If you're a realtor struggling to get the most out of your open houses, stay tuned.

Open houses are crucial marketing tools for realtors to generate leads and interest. Some realtors excel at them, while others struggle. It's essential to understand that open houses are not only about showcasing the property but also about building connections with potential clients.

To succeed, know every detail about the house, engage with visitors, and follow up promptly. Always ensure the house is presentable, use effective signage, and prioritize safety by having another agent with you. Remember, preparation, engagement, and follow-up are key to making open houses a valuable part of your real estate strategy.

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For more information or to request any materials mentioned in the episode, contact us at: tbore@rmxemail.net

Panning for Gold

Welcome to episode eight of The Business of Real Estate podcast with Lynn Hoffman and Eric Johnson. Today, we're talking all things prospecting and generating clients for your real estate business.

Many agents confuse marketing with prospecting. Prospecting involves finding and adding new people, turning them into leads for your database, and following up with them. This process includes various methods like door knocking, cold calling, and hosting open houses. The goal is to build relationships and provide value to potential clients.

Remember, it's essential to follow up consistently. Building a relationship with your prospects ensures they think of you when they're ready to buy or sell. Stay tuned for more tips on effective prospecting in real estate.

For more information or to request any materials mentioned in the episode, contact us at: tbore@rmxemail.net

To Team, or Not to Team

Welcome to episode seven of The Business of Real Estate podcast with Lynn Hoffman and Eric Johnson. Today, we're discussing whether to join or start a team. We'll hear from team leaders about creating and leading a team, and also discuss what single agents should consider when joining a team.

Joining us are Justine Wolcott from the Wolcott Team at RE/MAX Escarpment and Shawn Delight, team leader at Davidson Delight at RE/MAX Niagara.

Teams offer training and support, but they aren't just about feeding leads; prospecting is crucial. Agents need to focus on follow-up and nurturing leads.

Shawn emphasizes the importance of creating a business mindset when leading a team and highlights the role of client concierge services. Justine points out the need for contracts and proper team structure. Both recommend coaching for prospective team leaders to avoid common pitfalls.

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For more information or to request any materials mentioned in the episode, contact us at: tbore@rmxemail.net

Marketing Tells a Story

Welcome to episode six of The Business of Real Estate podcast with Lynn Hoffman and Eric Johnson. Today’s topic is marketing and how it tells a story to the public.

We discuss the differences between marketing, branding, and prospecting. Marketing involves promotion and crafting a narrative, while branding is about your identity. We emphasize the importance of knowing your audience, their needs, and where they get information.

Effective marketing requires a plan, tracking results, and consistent communication. Join us as we delve into strategies to create meaningful connections and successful marketing campaigns.

Stay tuned for more insights on the Business of Real Estate podcast.

For more information or to request any materials mentioned in the episode, contact us at: tbore@rmxemail.net

"Who Do You Know?"

Welcome to episode five of The Business of Real Estate podcast with Lynn Hoffman and Eric Johnson. Today’s topic is all about databases—who should be in them and how to manage them effectively. Many agents misunderstand what a database is; it should include everyone you know, not just past clients. A database is a collection of relationships, essential for referrals and building business.

Lynn and Eric emphasize the importance of segmenting your database and maintaining regular, meaningful contact. It's not just about sending emails or newsletters but building genuine relationships. They discuss overcoming the fear of asking for referrals and the value of each contact. The key takeaway is to treat your database as a goldmine, nurturing and growing it through consistent and personal interactions.

For more information or to request any materials mentioned in the episode, contact us at: tbore@rmxemail.net