In this conversation, Rebecca Green and Kim Borcherding discuss the role of social media in real estate, weighing its benefits against the anxiety it can create for agents. They explore how social media can be a powerful marketing tool, the importance of authenticity, and the need for consistency in engagement. The discussion also highlights the necessity of understanding one's market and audience, as well as the potential for alternative marketing strategies outside of social media.

Takeaways

• Social media can be a powerful marketing tool for real estate agents.
• It's essential to enjoy using social media to be effective.
• Not all marketing strategies work for everyone; find what suits you.
• Social media can create anxiety for agents who feel pressured to perform.
• Authenticity is key; agents should showcase their true selves.
• Engagement strategies can help increase visibility and interaction.
• Consistency in posting is crucial for building an audience.
• Understanding your market can guide your social media strategy.
• Analytics are important to track what works and what doesn't.
• It's okay to opt out of social media if it doesn't align with your business goals.

In this conversation, Rebecca Green and Kim Borcherding discuss the real estate industry's evolution, particularly in light of recent changes such as the NAR settlement. They emphasize the importance of adapting to change, the necessity of personal growth, and the value of perspective in navigating the evolving real estate landscape. The discussion highlights the challenges and opportunities that come with change, encouraging agents to embrace transformation and seek new ways to serve their clients effectively.

Takeaways

• Don't be a dinosaur; adapt to changes in the industry.
• Change can be scary, but it's necessary for growth.
• Evolution is essential for both business and personal development.
• Surround yourself with people who challenge your thinking.
• Moving brokerages can provide new perspectives and opportunities.
• Personal growth often requires stepping out of your comfort zone.
• Documenting your journey can resonate with potential clients.
• Coaching can provide valuable insights during transitions.
• The rewards of change often outweigh the initial fears.
• Embrace the mindset of continuous learning and adaptation.

In this episode, Rebecca Green and Kim Borcherding delve into the complexities of work-life balance in the real estate industry. They discuss the importance of understanding personal desires, the challenges of maintaining alignment in a busy career, and the necessity of taking time for self-reflection. The conversation highlights the hamster wheel effect many agents experience, the significance of profitability over sheer volume, and the transformative power of Breathwork as a tool for clarity. They emphasize the need for mentorship, community support, and the impact of work-life balance on personal relationships, ultimately advocating for a healthier approach to real estate careers.

Takeaways

• Most people struggle to answer the question, 'What do you want?'.
• New agents often have clearer visions of their desires than seasoned agents.
• Finding alignment in your career is crucial for success.
• The hamster wheel of real estate can lead to burnout and chaos.
• Profitability should be prioritized over volume in real estate.
• Taking time for self-reflection is essential for clarity.
• Breathwork can be a powerful tool for mental clarity and grounding.
• Healthy business practices can improve both personal and professional life.
• Mentorship and community support are vital for growth and change.
• Work-life balance significantly impacts personal relationships and overall happiness.

In this episode, Kim Borchardt and Rebecca Green discuss the importance of mentorship in the real estate industry. They define what a mentor is and explain how a mentor can help expedite an agent's growth and success. They also discuss the differences between mentors, coaches, and trainers, and the importance of finding the right mentor who aligns with your goals and business model. They provide advice on how to find a mentor, including cold calling successful agents and asking questions to ensure alignment. They also emphasize the need for a structured mentorship program and the benefits of on-the-job training.

Takeaways

• Having a mentor in real estate is critical for success and growth.
• A mentor is someone who has a vested interest in your success and is committed to walking alongside you and sharing their wisdom and advice.
• Mentorship can come in various forms, such as a singular person, a team, or a partnership.
• It is important to find a mentor who aligns with your goals, business model, and strengths.
• A mentorship should last at least a year, but ideally two years, to fully learn and navigate the complexities of the real estate industry.
• Finding the right mentor takes time and effort, and it is important to ask questions and ensure there is clarity and alignment in the mentorship arrangement.
• Mentorship provides on-the-job training and the opportunity to learn while doing, which can expedite growth and success in the industry.

Kim Borcharding and Rebecca Green interview Toni Mikel, a real estate broker in Portland, Oregon. Toni was Kim's mentor when she first started in real estate, and they discuss the importance of having a mentor and finding what works for you in the industry. They also talk about Toni's background in real estate, her experience as a 30 under 30 recipient, and the value of building relationships in the business. Toni emphasizes the importance of doing what's best for the client and finding efficiency in your business. The conversation touches on topics such as the importance of understanding ROI, the value of working with the right clients, the benefits of owning a brokerage, and the challenges of training and mentoring new agents. They also discuss the current market conditions and the role of NAR in the industry. Toni shares her philosophy of staying focused on her clients and providing exceptional service, rather than relying on online presence or marketing tactics.

Takeaways

• Having a mentor in real estate can be invaluable in guiding your career and helping you succeed.
• There are many different paths to success in real estate, and what works for one person may not work for another.
• Doing what's best for the client should always be the top priority in real estate.
• Building relationships and networking with other professionals in the industry can lead to opportunities and growth.
• Finding efficiency in your business can help you maximize your time and focus on what truly matters. Understanding the ROI on every hour spent is crucial in the real estate industry.
• Working with the right clients who value realtors is more important than chasing every deal.
• Owning a brokerage can provide more control and efficiency in the business.
• Training and mentoring new agents is essential, but it's important to find the right balance and focus on personal strengths.
• Market conditions may fluctuate, but adapting and providing exceptional service to clients remains key.
• NAR plays a vital role in maintaining ethical standards in the industry.
• Building strong relationships with clients and being a trusted advisor is more valuable than online presence or marketing tactics.

In this conversation, Rebecca Green and Kim Borcherding discuss buyer agency agreements and the changes that will be rolling out in the near future. They share personal stories and insights about buyer trepidation and the importance of having clear communication and understanding between buyers and agents. They emphasize the need for buyers to be educated about the buyer broker agreement and the role of the agent in the transaction. They also discuss the importance of experience, local expertise, and trust when choosing a buyer's agent.

Takeaways

• Buyers should be educated about buyer agency agreements and the role of the agent in the transaction.
• Clear communication and understanding between buyers and agents is crucial.
• Experience and local expertise are important factors to consider when choosing a buyer's agent.
• Trust and a good fit in terms of communication style are also key considerations.
• Buyers should interview potential agents and ask about their experience, understanding of the area, and their process for managing the transaction.

Q1 was slower than previous years, but picked up in March and April. Market conditions have changed with higher interest rates, leading to slower discretionary buying and selling. Agents should take advantage of the slowdown to skill up and focus on areas of their business that need improvement. Open houses and prospecting, especially with expired listings, are effective strategies for generating business. Agents should also leverage social media to attract relocating buyers. Evaluating expenses and adjusting marketing strategies are important in a slower market. Education and communication with buyers are crucial due to higher rates and prices.

Takeaways

• Q1 was slower than previous years, but the market picked up in March and April.
• Higher interest rates have led to slower discretionary buying and selling.
• Agents should take advantage of the slowdown to skill up and focus on areas of their business that need improvement.
• Open houses and prospecting, especially with expired listings, are effective strategies for generating business.
• Agents should leverage social media to attract relocating buyers.
• Evaluating expenses and adjusting marketing strategies are important in a slower market.
• Education and communication with buyers are crucial due to higher rates and prices.

In this episode, Rebecca Green and Kim Borcharding discuss the different types of real estate brokerages and the pros and cons of each. They cover national brands, local boutique brokerages, virtual brokerages, and low-cost options. They emphasize the importance of considering individual needs and goals when choosing a brokerage. They also share their personal experiences with different brokerages and offer advice for agents looking to make a switch. The key takeaways include the importance of community, the need for ongoing learning and innovation, and the value of aligning with a brokerage that supports your specific needs and goals.

Takeaways

• Consider your individual needs and goals when choosing a brokerage
• Different brokerages offer different levels of support, training, and community
• Virtual brokerages can provide innovative technology and flexibility
• National brands offer name recognition and global reach
• Local boutique brokerages can provide a tight-knit community and specialized knowledge
• Low-cost options may be suitable for agents with few transactions or specific circumstances
• Continuously evaluate your brokerage choice as your needs and goals evolve