10 Questions to Ask Your Broker When You Get Your Missouri Real Estate License in Kansas City

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10 Questions to ask your broker when you get your real estate license in Missouri or Kansas City

When you get your Missouri real estate license in Kansas City one of the most important days in your career is when you decide which broker to hang your license with. You will quickly find out the getting your Missouri real estate license is just the first part in a successful career in real estate. When you are new, you don’t know what you don’t know. Here are a list of 10 questions that your broker should be able to answer:

10 questiosn to ask your broker when you get your missouri real estate license

  1. What do you have in place as far as new real estate agent training or mentoring? What does it cost? Show me your last 12 months metrics on the success of the program. How many agents enrolled, how many transactions over what period of time?
  2. Can I see a copy of your local and regional training calendar?
  3. What Strategies, Systems or Techniques are your agents using to outperform the average agent in the market place?
  4. What is the commission split? Are all agents on the same split? Why do certain people get a different split? Why can’t I get that deal?
  5. At what point in my dollar volume production do I truly get to keep 100% of my commission? 
  6. Do you have hidden or added fees that I have to pay for if my clients will not cover them i.e transaction fee, administrative fee, additional marketing fee? If so, what do I get for those fees? When do they go away?
  7. How much of the owner’s profit did you share back with your agents?
  8. Would I be able to see the office’s financial statement? Are your books open to your agent population? Why not?
  9. When can I earn ownership in the office?
  10. Do I have a say in how the money that I contribute to the company is spent? 

Now that I know which questions to ask my broker, what’s next?

Getting your Missouri real estate license is just the first step in a fulfilling career in real estate. Make sure you partner with a company that views you as a business partner and not just the customer. You want to find an environment and a culture that matches up with yours. When choosing an office to hang your Missouri real estate license with, be sure that the answers you get to these questions make sense to you.

To have Keller Williams Platinum Partners answer all of these questions for you, feel free to set up a confidential consultation. 

-To your success.

Getting Your Real Estate License in Missouri and Kansas City

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Getting Your Real Estate License in Missouri

If you are considering getting your Missouri real estate license you may find that is is easier than you thought. The process of getting your real estate license, whether you are in Kansas City or St. Louis is pretty much the same. The Missouri Real Estate Commission mandates a certain number of classroom or online hours to get your Missouri real estate license.

Many real estate license schools in Kansas City and Missouri in general have both classes that you need.

Getting your real estate license in Missouri and Kansas City is easier than you think!

Getting your real estate license in Missouri and Kansas City is easier than you think!

Classes required to get your real estate license in Missouri

  • The first class needed to get your Missouri real estate license is called the Missouri Pre-License Course, which is exactly what it sounds like. This 48 hour class prepares you to take the Missouri Real Estate License Test. Once you complete this course, either in-class or online, you are ready to take the real estate license test for Missouri , which covers national and state specific questions.
  • The second class needed to get your Missouri real estate license is called the 24 hour Missouri Practice Course.  This class begins to show you the “Practice” or the business workings of real estate. You will go over forms, and some very basic best practices of running a real estate business in Missouri.

Additional Steps to Get Your Missouri Real Estate License

Along with your Missouri Real Estate Classes, you will need to take the Missouri State license test. If you took the classes at a school or online they will give you the information on approved real estate license testing centers. These will be proctored exams, so be prepared to remove all personal belongings.

One last thing you need to do to get your Missouri real estate license is to get your fingerprints taken for your background check. In Missouri, you are required to use an approved third party vendor for this. Yes, even if you are cleared for top secret defense contracts, and you just came back from a 4 year tour with Homeland Security, the Missouri Real Estate Commission would like you to submit new fingerprints.

I Just Passed My Missouri Real Estate Classes and Test, Now What?

So you have complete all the requirements for your real estate license in Missouri, now what? The next decision you make after this will be the biggest decision you may make in your real estate career – which company to hang your Missouri real estate license with. Getting your Missouri real estate license is one thing, partnering with a real estate brokerage that has the tools and resources to help you get your business off the ground is a whole blog post in and of itself.

Welcome to the Real Estate Industry!

13 Ways to Dominate Your Real Estate Market

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GROWTHWhat does it take to become a millionaire real estate agent? How do you sustain that status regardless of market conditions? Here, 13 KW MAPS Coaches offer 13 things you should do now to dominate your market.

Dianna-Kokoszka-KWBlog-Tipsfor2013Dianna Kokoszka, CEO, KW MAPS Coaching and KWU

“Whether you are an agent or team leader, this is the year to focus on growth. Your business grows to the extent you grow. Challenge yourself to exceed your biggest goals ever and work with a coach or other accountability partner to follow through and succeed.”

TonyDicello-KWBlog-Tipsfor2013Tony DiCello, Executive Director of KW MAPS Coaching

“Lead generate and follow up at least three hours per day for at least 200 days during the year. Put it in your time blocking schedule and have your coach or someone hold you accountable to doing this ONE Thing.”

Ron-Patulski-KWBlog-Tipsfor2013Ron Patulski, Vice President of KW MAPS

“Today’s markets reward skill…

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The Number One Real Estate Brand in Kansas City

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The number one real estate brand in Kansas City has been and always will be – YOU!

Real estate in Kansas City, and every other market across the country, is a local business and people do business with whom they know, like and trust. The National Association of Realtors 2011 profile of home buyers and sellers, surveyed home buyers and sellers and asked them why they chose the agent they worked with. Here are their findings:

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If the number one brand in real estate in kansas city is YOU – let’s take a look at where most new and seasoned agents have the best opportunity for growth:

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More new agents and seasoned agents are beginning to PROFIT FROM THE TRUTH and are no longer buying into the rumors our competitors are feeding them.

Keller Williams is not threatened by the individual agent’s success. We believe in business conversations based numbers, in growth, education and training. The real estate company you choose to partner with has less to do with splits, and costs, and more to do with your NET result at the end of the year. We focus on building business worth having, careers worth owning and lives worth living.

Are you hitting your potential? What does the next level of success look like for you? Who at your current brokerage is helping you get there? How much longer are you willing to wait to make what you deserve?

Let’s sit down for a cup of coffee and go over these questions. Contact me today for a confidential business strategy session so you can get your answers from the source. You can always buy into the rumors, or you can PROFIT from the TRUTH.

5 for July: Getting Seller Leads in a Hot Market in Kansas City

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Getting Seller Listing Leads in a Hot Market Can Be As Easy As 1-5!

For July, while we are hanging on to this seller’s market here in Kansas City I wanted to share some effective strategies to increase your listing inventory. So this whole month I will be posting 5 strategies for picking up new listings in Kansas City or any market for that matter. These listing strategies are simple, easy and effective. If you are not implementing lead generation activities for picking up listings then you are really missing out in this real estate market shift.

5 in July Listing Strategies

  1. Getting Listings from Your Database or Sphere of Influence

  2. Getting Listings from Open Houses

  3. Getting New Listings From your Geographical Farm

  4. Getting For Sale By Owner Listings or FSBO Listings

  5. Getting Expired Listings

 

Why work three times harder?

Why do we focus on getting listings leads for our business? One word – LEVERAGE. If we have listings we have an opportunity for three transactions, let me explain. First, you sell the listing. Second, that seller also needs to buy a new home. Third, you will get sign calls that can be converted to buyers, and who knows they may also have a house to sell. There is also a bonus, if the caller is unrepresented and wants to stay that way then you can double side the transaction.

So listings equal leverage. You don’t have to be there to show them and they have the opportunity to turn into multiple transactions. When you have a steady listing inventory you don’t have to focus on getting buyer leads, they will be coming to you. Not enough buyers? Simple, get more listings! So stay tuned for the next post, where we dive into your Database and the Acres of Diamonds there.

The Secret to Converting For Sale By Owners into Listings in Kansas City

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Are you looking to convert more For Sale By Owners into listings in your market?

Regardless of the market, one of the best listing opportunities are still the For Sale by Owner, or FSBO (pronounced Fizz-Bo by most Realtors). There are several reasons why FSBO’s are still and have been one of the best listing opportunities for realtors and they are:

  • They have already “raised their hand” that they want to sell.
  • Most are already willing to work with agents who have buyers, so getting in touch and creating a relationship is fairly easy.
  • There are usually plenty of them to prospect and they have their phone numbers and emails readily available.

So why aren’t more agents listing For Sale By Owners in their market?

While the reasons vary, most agents don’t convert FSBO listings due to several reasons. Do any of these apply to you?

  • Since FSBOs are called on by many agents early on, they may get a frustrated individual on the phone and it makes them feel bad, that “All FSBOs are just MEAN!”
  • They don’t have a system to keep in touch over time, so they fail to follow up and then some other agent invariably gets a sign in the yard.
  • They don’t have anything of value to offer when they follow up with the For Sale by Owner so each call feels like they are bothering them.

These are just several of the main reasons why most agents give up on FSBOs and why you can use this information to your advantage.

A few stats on For Sale By Owners that you need to know.

  •  94% of for sale by owners do not sell on their own.

    Kansas City For Sale By Owner conversion information

    Information so you can effectively list more for sale by owners in your market.

  • of those that do sell, they sell on average 11% less than if they would have been represented professionally.
  • The biggest obstacle that FSBOs face is getting the property priced right
  • The second biggest obstacle is understanding and executing the paperwork.

So what can I do to convert more For Sale By Owners into more listings?

  1. Truly come from contribution and don’t be like every other agent who is just going in for the listing. If you approach FSBOs with a real regard to help them, they will remember that when they decide to explore a professional listing.
  2. Be sure to have information, or items of value, available to help a FSBO in their sale. The stats are still valid, and most will not sell due to lack of exposure and marketing, but they will remember the agent who actually tried to help them sell.
  3. Actually follow up when you said you would. If you told them you would call every week to check in on them and they said it was okay, THEN DO IT! Sure week one, 15 agents are calling. By week two that number is in half. Week three there are maybe you and one other agent calling. By week 4 it is you and only you.

Recap:

Converting for sale by owners into listings in your market and in Kansas City does not have to be a stressful and painful experience. Keeps several of these lead generation tips handy and you will be increasing your listing inventory like clockwork.

If you want to take this conversation even deeper and discuss the specifics of your action plan and what items of value you leave with your FSBO prospects, just contact me for a private and confidential consultation. Worst case scenario is that you leave with some great information that will help you grow your business.

Setting Buyer Expectations in a Seller’s Market in Kansas City

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Setting buyer expectations in a seller’s market in Kansas City can save you time, money and frustrations!

Seemingly overnight we have transitioned from a buyer’s market (more than six months of inventory) to a seller’s market (less than 6 months inventory) in Kansas City. Naturally there is some lag between when the news passes this info along. So right now, we have real live buyers in the field, still looking to get that deal of a lifetime, and they are coming up on homes that are going under contract in less than a week, multiple offers and oftentimes now going under contract for more than list price. If you are not ahead of this shift, and setting your buyer’s expectations about the market ahead of time, you could be setting yourself up for frustration and disappointment.

So how do you set buyer expectations in a seller’s market?

In short, data. You should have the ability to pull up market statistics in your local MLS that can show you average list to sales price ratios over a period of time. In the Heartland MLS that report is called the “Market Conditions Addendum” and does a nice job of compiling the data in a very easy format. Let’s be real, all the data in the world doesn’t mean diddly if you can’t interpret it and relay the info to your buyers in a way that they will understand.

So what if your buyers still think that they can go out and steal a property?

So if you have tried to set your buyers expectations by showing them the data that shows them that we are in a seller’s market here in Kansas City or wherever you are, then sometimes losing out on a property is the only remedy. We are the agent of our client. We can provide advice and consult to the best of our knowledge, if your client still wants to lob in an offer then as a fiduciary you have to do it. Just make sure to let them know that they could be losing out on their perfect home, while someone else comes in on top of this offer and takes it.

Ok, great Mat, we hear you, but how can I set my buyer’s expectations in this Seller’s Market?

Simple. Scripts.

List Price to Sales Price
The average list price in (____________) is (__________) but the average sales price is
(__________). That means that sellers are coming down approximately (__________
dollars). The reason I share this information is that I would prefer to turn you down now,
rather than disappoint you later, if you think you could offer $25,000 less than the list price
and actually expect to get it.
So let me ask you a very direct question. If we found you the perfect home and the seller
is only willing to come down about (_________ dollars) how would you feel about that?

If you want even more killer tips on taking advantage of this monstrous shift in the market, reach out to me here!

Getting Seller Leads and Listing Leads in Kansas City

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Are you having trouble finding and getting seller and listing leads in Kansas City?

Well you are not alone!

Seemingly overnight, our market has transitioned from a neutral market, 6 months of inventory, to a sellers market where we are seeing 4 months of inventory or less. Buyers are getting frustrated that the Buyer’s Market that they were hoping for is now all but gone. Homes are going under contract in the first week and are getting multiple offers, driving the final sales price over list price in many instances. While this is a good indicator that our market is strengthening, and buyer confidence is up, it poses a problem for the average agent  – your listing inventory is now low to gone.

So why is getting seller leads and listing leads important in Kansas City, or any city for that matter? Because Listings = Leverage! At Keller Williams Diamond Partners we follow the 3L’s model Leads-Listings-Leverage. Listing show themselves, buyers call off the sign and sellers need to buy as well. One listing could be three transactions or more, especially if the buyer for the listing also has a home to sell.

So how do we get listings leads and seller leads in Kansas City?

There are 6 main seller lead sources, but I will talk about one in particular. (obviously there are more than 6 but lets focus on the big ones)

  1. Your Database
  2. Business to Business / Vendors
  3. Open Houses <—I’m going to go into detail here
  4. Geographical Farm
  5. For Sale by Owners (FSBOs – Pronounced Fizz-Bows)
  6. Expired Listings/Cancelled Listings

Getting seller leads and listing leads from Open Houses

Open Houses? You can get listing leads and seller leads from open houses? YES!!! You just need the right scripts and checklists!

The main reason that I wanted to go over getting listings from open houses is that they are one of the best ways to get new business FAST. At Keller Williams Diamond Partners we take open houses beyond the basics and go for open house domination!

Successful open houses are about planning!

Successful open houses are about planning!

Top 2 ways to get seller leads from Open houses:

1: The people that walk into an open house are one of the next three:

  • Buyers
  • Buyer who has a house to sell
  • Neighbor (who may also have a house to sell)

The secret to converting these walk throughs to business is engagement and questions which = scripts! The good news is that I have those for you, and you can get your scripts to get seller leads and listings from open houses right here!

2: Door-knocking the neighborhood and inviting the neighbors to come to the open house.

People that door knock, and do it consistently want you to believe that it doesn’t work 🙂 In fact, door knocking is one of the best and fastest ways to build your pipeline and get your database full of quality leads. Door knocking when done well is amazing – and you can get your free door knocking scripts to get listings and seller leads right here!

So are you ready to take your unfair share of seller leads and listings in Kansas City this season?

To set up a private and confidential one-on-one to explore the other 5 leads sources for listings contact me today! There is no reason that you should not have a listing inventory as big as you want – go get it!

How do you get your real estate license in Kansas?

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So how do you get your real estate license in Kansas?

So you have thought about getting your real estate license. You live in Kansas. Now what? Well to get your real estate license in Kansas it is a simple 4 step process.

  1. Take the 30 hour pre-exam course.  This course prepares you to take the Kansas real estate license test. There are in class and online options, we have recommendations, but you can find out what is best for you. During this class it is advised that you get your fingerprints and send them off to the state for your background check.
  2. Take the Kansas real estate license test. The test is comprised of a majority of general real estate questions and portion of state specific questions as well.
  3. Take a 30 hour real estate practice course. This course is designed to introduce you to the way that real estate business is done and how to negotiate your way through a transaction. Like the first course there are in-class and online options.
  4. Apply for your License with the state!

    Get your Kansas real estate license!

    Get your Kansas real estate license!

Getting your license real estate license in Kansas is actually not that difficult. One of the hardest decisions you will make is where to “hang” your license. In Kansas, in order to practice real estate you have to be supervised by a Broker. All that means is you have to choose a real estate office to work at. The options are literally vast.

Questions to ask when choosing a real estate company to work for:

When choosing a real estate brokerage in Kansas to work for, there are several questions that are pretty important, especially if you are brand new to sales and also brand new to real estate.

  1. What types of new agent real estate training do you offer? Do you have a real estate mentoring or shadowing program?
  2. What tools, technology and systems do you offer, and what are their costs? Are the tools and systems included in my monthly dues how are they paid for?
  3. Do you have any statistics on new agent successes in your office? What are the averages that your office has in regards to helping brand new agents in real estate get commissions quickly?

Getting your real estate license in Kansas is one thing. Choosing a great real estate company in Kansas to work with is another.

If you are thinking of getting your real estate license in Kansas then we should talk! I would love to set up a confidential no obligation meeting to go over your needs.

To your success!!!

-Mat

Overcoming NO in Real Estate Sales and in Life

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Overcoming NO in real estate sales and in Life – changing the way we look at asking for what we want!

I had a recent conversation with a dear friend about their business and we came across a really great subject that I wanted to take a minute and go over with you. In a nutshell, we were talking about our respective services and that there were times when their bids seem high and they sometimes freeze before presenting them for fear of rejection – fear of the NO. Overcoming NO in real estate sales

The word NO is such an interesting word – only 2 letters – but those two letters have the power to completely paralyze  us and cause us to fall into inaction. So why is that? My daughter is about to turn three and she is fearless when it comes to the word NO, she will ask and ask for hours to get what she wants, sometimes getting 10-15 no’s until either I tire of the struggle and say yes, or she gets bored of the asking and moves on. At what point in life do we lose this never ending desire to get what we want?

In sales and in life we have to deal with NO on a daily basis. It’s just a part of the job, and those who can overcome the fear of NO don’t just do a little bit better than their counterparts, they are crushing it.

So what is the main fear behind NO?

Rejection. We all want to be liked and making a call, meeting with a client or asking for something you want puts us in a vulnerable state. Asking someone to work with us or choose us puts us in a position that if they say no, it can oftentimes feel like they are rejecting us personally, even though more than 95% of the time it has nothing to do with you personally. They are usually just not ready for your service, or you have not demonstrated enough value for them to make any type of switch.

So how do we get past the paralyzing fear of hearing NO?Getting to YES in real estate sales in Kansas City

  1. Don’t be tied to the result! – A pro baseball player in the hall of fame strikes out 70% of the time during their entire career! What kind of career do you think they would have if they got discouraged after 2 or 3 strike outs?
  2. Make collecting No’s a game. – If it’s about numbers, then if your goal is to get to 30 No’s a day, then imagine how many Yes’s would be sprinkled in there. Also, notice the mind shift, if you are making calls to get No’s then what happens when you hear one? That’s right, success! The Yes’s are in there and they will come out.
  3. Never forget that if you never ask then the answer is always NO.

So get over your fear of NO! It’s little, it’s insignificant and most importantly it’s just two little letters that are standing in the way of your true potential and life changing opportunity.