Stuart Neal's Real Estate Blog - Careers Guidance

3 Reasons Your Sphere of Influence Might Not Be Enough

What exactly is a ‘Sphere of Influence? In simple and effective terms, I would describe it as “a large data base of folks that know like and trust you.”

Most REALTORS® expect to be build a career based on their sphere of influence and management in many brokerages support this belief. Is this a myth? Let’s examine some of the challenges with this singular approach to building a successful REALTOR® career.

Here are three reasons why you might not succeed with your sphere alone.

1. You might lack credibility

Here’s your challenge if you are new to real estate. Most of your ‘sphere’ will think of you as the person in your former work. If you were a dental hygienist, a car mechanic or an oil and gas worker, that’s how your friends and family…

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The Pros and Cons of Being on a Team

For some REALTORS® the idea of being on a team is counter intuitive. One of the reasons many folks decide to be REALTORS® is to become the masters of their own destiny. However, there are some good reasons to consider a more collaborative approach to your REALTOR® journey.

Let’s look at the cons and then the pros:

Cons

1. You may be expected to attend regular meetings to share your progress and to build a sense of community.

2. Your contribution costs to the team may be higher than if you were to ‘go it alone,’ but the number of transactions and your actual income, will exceed what you could achieve alone.

3. From time to time, you may be asked to cover and support your fellow team members. They will do the same for you when you want…

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What Could the First 9 Months of Your Real Estate Career Look Like?

I’m following the careers of hundreds of newer industry members to better understand why we lose so many members. According to RAE between 70% and 75% have left the industry within the first 12 months.

I recently interviewed several industry members. I asked a series of questions and below I have shared their answers. As always please call me if you have questions as to how you might improve your career. My office number is 780-760-2014 x3.

Question 1 - In the last 9 months or so what has gone particularly well for you?

“Through my network of professional and personal contacts, I have managed to stay fairly busy through referrals. I am really proud that I received an Outstanding Achievement Award of Excellence for the third quarter”.

…

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Can You Start Your REALTOR Career Part Time?

I’m building a rolling 2-year study. Because as an industry we lose almost 75% of new industry members here in Edmonton over the first 2 years, I decided to start following many new industry members to learn how their careers developed.

I became concerned because numerous people I spoke to were dipping their toes in the water. They were tentatively launching their REALTOR careers but also holding down a full-time job.

This concerned me. I have always believed that the demands of a REALTORS job demand full time.

Yesterday I launched a survey on a Facebook REALTOR group in Edmonton and the results stunned me.

Note I didn’t ask “Can a person be REALTOR part time?”

Rather, I asked this question:” In your opinion is it possible to launch a…

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How Many People Do You Need in Your Database?

Most REALTORS® I speak to understand the importance of building a database of prospective, current and past clients. Few however consider how big that database needs to be.

As part of my rolling research project to track and measure the progress of newer industry members, I get to discuss the subject often.

Those REALTORS® who have in a previous life built a large Sphere of Influence (SOI) do not have concerns and they should not.

Those REALTORS® who have chosen to join a team that has created a marketing program intended to identify potential clients, particularly home buyers also have few concerns.

It’s those REALTORS® that are planning to go it alone and creating a database from scratch that worry me. When I ask most REALTORS® how many…

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The 4 Client Types – Who Are You Working With?

Humans are such interesting creatures because we are all a little bit different. But we are also somewhat the same. The real estate training group based in Fort Collins Colorado, Ninja Selling has identified 4 distinct group types.

By learning how to identify each group (and yourself) you can tailor your counselling style to suit your client.

Power People (about 15 to 20% of the general population)

Very focused on the future. Can you get them there quickly and with little fuss or will you get in their way?

Power people have clear goals and a sense of urgency. Demonstrate how you can get them there and you will be well on your way to pleasing your client.

They are typically very focused and task oriented.

They will make quick…

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Introducing Megha Narula – Inside Support Advisor

Megha Narula joined our team as an Inside Support Advisor almost 3 months ago. I asked Megha why she chose to align herself with Ambergate Realty Advisors. I interviewed Megha on September 3rd, 2021.

This is what she had to say.

1.  Why did you join Ambergate Realty Advisors?

Because I wanted to get my feet wet and work in the industry before I am ready to become a REALTOR®. I am now learning all the skills I need to enol, counsel and recruit new clients.

2.  Over the next 3 months what do you hope to learn?

I am perfecting my questioning, listening and probing skills so that over time the conversations I have with prospective clients are more comfortable and add value each time.

3.  What advice would you give someone when they…

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3 Ways to Avoid Becoming a Pop Tart REALTOR®

Do the professional accountants, lawyers, dentists and doctors in your life make appointments? Or do they allow clients and potential clients to just ‘drop in’ whenever they feel like it? Most work on an appointment basis and you will need fit in with their schedule. And of course, you are happy to do so because you respect them because of the value they bring using their skills, knowledge, time and because you have a relationship with them.

Why should your real estate career be any different?

I’ve seen many REALTORS® burn themselves out or sacrifice their family life by acting like pop tart agents. You know those that have no plan and are completely reactive to whatever happens in their day. With one or two exceptions, REALTORS® like this are…

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Are You Letting Buyers Blind You with Star Dust?

On a regular basis I receive questions from buyer agents about my listings the answers to which might be self-evident, or simply not that important. The REALTOR® has become a simple messenger not a guide.

I often wonder if their client (or more likely prospective client) has simply thrown this question out there to end a meeting or conversation, with that particular REALTORS® perhaps because they are not ready to buy, or simply because they are not sold on working with that REALTOR®.

What makes me think this is that more often than not, I never hear from that REALTOR® again at least not in the context of that listing. Its almost like the prospective client has thrown up a smoke screen or some ‘star dust’ to cloud the real issue.

Here some…

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How to Encourage Clients to Open Up and Trust You

As you go through your daily interactions do you see yourself as sales person overcoming objections and persuading people to do things?

Or, do you see yourself more as an expert and advisor helping people to navigate their way through hard choices?

You have probably heard this expression before, “no one likes to be sold, but everyone likes to buy”.

If you think you are selling. STOP. Become an advisor instead.

How can you do this?

Its easy really. When you first meet or interact with a prospective client, their guard is up. They don’t know you and don’t trust you. For all they know, you could be one of those dreaded salespeople they have heard about.

We have a conflict. You want them as clients. They won’t commit because they don’t…

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