In the ever-evolving real estate industry, it’s crucial to stay ahead of the curve. This week on the Real Estate Insiders Unfiltered Podcast, Keith and James chat with George Laughton, the founder of the Laughton Team from Phoenix, Arizona. His insights were not just inspiring but also packed with actionable strategies for real estate agents looking to thrive in a competitive market.
Understanding Market Shifts
George highlights how vital it is for real estate brokers and agents to keep their heads up and adapt to changing market trends. He shared a personal journey that started in the depths of the 2006 housing crisis, transitioning from an REO team to leading a successful, lead-based model. His grit and adaptability are testaments to the importance of recognizing market shifts and pivoting accordingly.
Key Takeaways:
- Stay Informed: It’s essential to keep up with real estate trends and market shifts to stay relevant.
- Adaptability is Key: The ability to pivot your business model can mean the difference between thriving and merely surviving.
Building a Successful Team
George’s approach to team building is particularly noteworthy. He emphasized the importance of developing a strong CRM and lead generation system. His team leverages platforms like Boomtown to keep leads organized and nurtured.
Here’s how he structured his team:
- Focus on Lead Generation: Investing in PPC, social media, and portal leads has been a game-changer.
- Recruitment Strategy: George isn’t shy about bringing in agents based on lead generation potentials. He believes that having leads is crucial for success.
- Interdependence: He fosters a culture of interdependence among agents, creating a supportive environment that encourages collaboration.
Leadership Insights:
- Agent Journey Levels: George categorized agents into levels based on experience and performance, offering tiered support and leads accordingly.
- Client Events: Organizing client appreciation events helps agents nurture their sphere of influence (SOI), leading to long-term success.
Tackling Canceled Listings
One of the standout strategies George shared was tackling the challenge of canceled listings. He introduced the reverse offer playbook, a technique that allows sellers to generate offers actively. This proactive approach not only revitalizes stale listings but also opens up new avenues for conversation with potential buyers and their agents.
Why It Works:
- Engagement: By reaching out to interested parties, agents can reignite interest in properties that have been sitting on the market.
- Creating Opportunities: This method empowers sellers, allowing them to take an active role in the selling process.
The Role of Technology
In today’s world, technology plays an integral role in real estate. George passionately discussed the impact of AI on the industry, emphasizing how it can enhance the customer experience and streamline various processes.
Future of AI in Real Estate:
- Predictive Insights: AI can help agents identify which leads are most likely to convert, allowing for more targeted follow-ups.
- Conversational AI: Tools that can assist in updating CRMs post-appointments will enable agents to focus more on building relationships rather than administrative tasks.
Final Thoughts
As George pointed out, the most successful real estate agents are those who continuously invest in themselves and their teams. Listening to podcasts, participating in real estate courses, and attending events is not just a luxury but a necessity for growth in today’s landscape.
Key Takeaways:
Stay Resilient: The real estate market will continue to evolve, but those who adapt and innovate will remain at the forefront.
Invest in Growth: Whether it’s through real estate podcasts, books, or courses, the knowledge you gain will pay dividends in your career.
