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Recently, I was asked to answer some questions regarding an agent opening their own brokerage. Below are the questions with my responses, which have been taken from my personal experience and my experience with my clients.

As some trends die, others are born. Short sales and REOs are in their last days, and we need some inventory! Builders have been hurt. They are being careful, and the banks are not backing them like the "old days." We are seeing the "stirrings" with small and medium-sized builders. The builders will need contact (call, letter, email, or personal visit) to remind them that you are their friend and colleague in this business. It is always easier to talk to with a potential client when you are delivering value. You feel better, and they listen better. The reason our clients are so successful is that they have the best value propositions to the best seller demographics. Builders are no different. Offer value that eliminates the competition and causes the builders to talk about you, their new agent, at the golf course, at business dinners, etc. Begin putting together your local, small and medium builder list. I would recommend starting with a letter explaining the value that your builder services offer and your promise of future contacts.

PROVERBS 21:20 – “There is treasure to be desired and oil in the dwelling of the wise, but a foolish man spendeth it up.”

Let’s set the scene – you really want the major share of listings in the neighborhood close to your office, and you want those listings at an average sales price 40% higher than your average closed sales price. The catch – you just found that your competition has been hanging out there for 12 years with doggie treats, pumpkins, and door hangers! Well, it’s time to get to work.

I get many questions about how to attract agents when you don’t have a “large” system. The answer is a multi-faceted approach with grass roots training, coaching, holding your agents accountable on a regular basis, and yes, even getting rid of the dead weight.

Many of you are looking for unique ways to solicit expireds. My coaching clients use multi-media solicitations to this hot demographic group. They solicit expired listing owners by adding the line "Helping Expired Listings Sell Their Homes" to their postcards, letters, voice mail messages, emails, blogs, website, social media, and any place else an expired seller may see the offer.

Real estate agents are competitors, but affiliates can be team members. An affiliate is a service provider who affiliates with your business to earn a piece of the transaction. They can be lenders, home warranty providers, title representatives, inspectors, etc. For our purposes here, we're going to use lenders but really the same principles apply to all.

Going to bed late, waking up late -- the world is already at your doorstep so there’s no time to exercise. Maybe you will take a look at Facebook. Oops! Where did that 40 minutes go?

I have the privilege of coaching some great agents. They have enough business so that they can effortlessly say “no” to business that they believe has a small chance of closing. You are in a contingency business. Your income is contingent on the property closing. Lawyers who work on contingency are very careful in choosing what cases they work, and they get a 33% commission in most cases. Similarly, you need to abide by the rules below…or you will be working too much business that does not close.

When an interested buyer drove by a property then followed the directions for more information (easy-to-remember URL, QR code, text back system, or IVR system), I always made sure they had reasons beyond a great listing to contact me personally. The buyers are out looking at listings without their agent so maybe their real estate agent is inefficient! Why not attract them to the most professional representation in the area? I would provide a list of reasons for them to call me directly via an attachment to the listing flyer in the brochure box, on my website in the buyer’s section, and even on the fax/text/call back systems. This list worked like a charm!