Real Estate Pro Tips

Want to know the secret to converting online buyer leads at 10% or higher? 🤔

How you answer, how you speak on the phone, and what you say really matters. While most agents will ask, are you working with a realtor? Are you buying with cash or do you need to get a mortgage? Are you prequallified? These are realtor questions. And yes, they are important to get answered, but the buyer can answer them later. You need to get in front of the client first. If you never get in front of the client you will never get the transaction.

My team and I convert our leads because we start out of phone calls with hi, this is scott kompa from the scott kompa group at EXP realty. I saw you were interested in 588 Orchard Rd, when would you like to see it? Tuesday at 1 pm, perfect. I’ll call and set up the appointment.
Are there any other properties that you would also like to see? Ok, I will add them to the list to see.

Then finally, what has made these properties stand out to you, what interests you in them?
After they tell you what they are looking for in a home, we continue with here is my next step. Once I get confirmation that we can get into the property at 588 Orchard Rd I will call you back or text you. Which is better for you? Then of course we contact them back after we get our appointments confirmed just like we said we would.

This process is called ALM, appointment, location, and motivation. So before you go for the realtor qualifying questions which turn off most buyers, develop rapport with the buyer and see your buyer lead conversion rate skyrocket! 🚀

What else are you LYING about???

What’s the secret to getting your offer accepted?

The real estate market is on fire! This is Scott Kompa and I've been asked by many agents how are we getting our offers accepted by sellers as we have some agents closing 11 deals a month.
If you have been submitting offers for your buyers or even if you are watching this and looking for your own dream home, you know the demand and competition for houses is pretty intense.

So how do you win a bidding war? In most cases, the key is to choose a strategy that fits the needs of the seller.
Here are some of my secret sauce tips for Bidding War Victories

1. Offer the highest price on your first offer. This might seem obvious, but there are buyers who are still submitting lowball offers thinking that the seller might do a call for highest and best, and then the seller just accepts an offer.

2. Use an escalation clause in your offer. Unfortunately, there are a lot of agents who do not know what they are and how to properly use them. Many agents even advise their clients against accepting them. A tip is the most agents will make the escalator $1,000 which isn’t the best choice. The better choice would be to make it substantial such as $5,000. If you are offering only $1000 more, there may be another offer that is less but has some kind of better terms.

3. Cash is king! When there are multiple offers on a property, cash offers get sellers' attention. Keep in mind you have to exercise extreme caution as we have had “cash offers” presented to us and then it turns out the buyers didn’t actually have cash.

4. Ah, the love letter. A personal letter can put you ahead of other buyers in a big way, but you have to be careful that the letter does not violate any fair housing rules or discriminate against anyone. So use caution about what you include in the letter on this one.

5. Use a local lender, trusted lender. There are many agents who frown upon receiving an offer from space ship mortgage or other online lenders. Simply, these companies have great marketing, but my experience is they rarely close on time. Ask your real estate agent what company they prefer receiving pre approvals from.

6. Waive your financing contingency. Wait a second Scott. That could mean I lose my earnest money deposit and more if I do not buy it for some reason. To avoid the stress, simply get a fully-underwritten loan approval. Not every lender will issue these. If you need a list of lenders that will, let me know and I am always happy to share.

7. In our standard real estate contract, the retains the right to do inspections and if there are necessary repairs, then the seller shall fix items or the contract can be declared null and void. In this market waiving home inspections can be what it takes to get your offer accepted over another buyers. I do not recommend you waive your inspections, but it is an option. If you didn’t want to waive the inspection completely, you can ask for an extremely short period less than 1 week instead of the standard 14 days.

8. Sometimes it is not the highest offer that gets the offer accepted. Sometimes it is as easy as asking when the seller wants to sell and closing at their convenience. Also the option is there to actually buy the home, but then rent it back to the seller for a short time. Make sure you check with your lender because some loans mandate that you have to occupy the home in a certain amount of dates. Renting back the property to the seller helps the seller get their next property so they do not have to sell their home to purchase another.

And finally you want to work with a professional real estate agent. Make sure you check their reviews on google or Zillow. Make sure your real estate agent is not only knowledgeable, but always well liked by other real estate agents as that can go a long way in getting offers accepted. Not all agents are created equally.
I hope you can take something away from this to help you in your business of being an agent, or even buying your own home. Like or subscribe if you want to hear more tips that can help you. Feel free to reach out to me if you have any other questions or would like to discuss your plan to win the bidding war.

How is Success Like Pregnancy? The year is halfway over...
Where are you?

Wait until you hear about this FSBO...
This may p**s off some agents, but it is true....

What are the 6 things you must incorporate in your real estate business right now in order to thrive… or would you rather die? It’s your choice.

This is Scott Kompa and I’m sharing what you need to do right now to get ahead of all the competition including Zillow and all the other companies who will be requiring a referral fee of 25-50% on every transaction… 😫

1. You need a strategy for maximizing the ROR from the database. ROR stands for return on relationship. This includes calling, texting, mail, email, digital, and social media.

2. Build scaled geographic farms (mail and online with hyperlocal marketing) with more compelling offers

3. Start an effective digital strategy with more compelling offers (noticing a trend? Your current marketing that says just sold isn’t enough)

4. Channel business with aligned partners

5. Build the machine for hyperlocal content creation

6. Optimize google and other complementary platforms

Ok, it’s time to implement this list. This is about what is most important. Your business. If you want to discuss any of these feel free to reach out.

Are you TIRED of paying for leads? 🤔
How to get BUYERS and SELLERS right now for FREE

Someone just stole $20 from my bank account. In my bank account I had $86,400 and about 2 weeks ago I found out a neighbor of mine stole $20 from me. The neighbor, who was once a friend, started boasting and making claims on facebook. He was making up lies to make him look better. A friend sent me a text and said I better check out his posts. What the guy forgot about was that he never blocked or unfriended me. So I went on his facebook post and set the record straight. I even told his “friends” that we had a falling out and I just wanted to be left alone. This guy kept making his comments. So I went over to his house to confront him. He said it was good to see me after 4 years and unfortunately it took these circumstances to get me over. He said he deleted the post. So I went back to my house only to get a text from a friend that this guy made another post. So I went back on facebook and let him have it by unleashing icbm missles by telling his friends why we had the fallout. I wont go into that again. So without getting into any more detail, this guy ended up stealing a total of $7,200 from me.
My friends, I apologize to you because I did something that I preach against doing. I should have just ignored the comments. By engaging with a hater, I let him take advantage of me. The $7,200 that he took from me, was not money. It was time. There are 86,400 seconds in a day and I let him eat up 7200 seconds or about two hours. This is time that I cant ever get back. And to his “friends”, I am an ass for blasting him on his embarrassing tasks. He said he has since deleted all the posts, and now blocked me. Who knows if he did. It does not matter. The point is that I took the bait and to some I may look like a mean person who yells, get off my lawn as people walk nearby. And who know how much future business may have been lost by my actions. My message to you is to value your time and always do the right thing. Even if it means turning the other cheek, it is always the right thing to do. And what we do on social media exists forever, even if you delete your posts someone my have screen shots. So always remember, the right thing is the right thing.

Do you suggest to your sellers that you accept a contingent offer?

This is Scott Kompa and what’s the big deal with contingent offers.

I just had a buyer that had their home on the market and wanted me to ask the listing agent if they would even look at a contingent offer. So I called the listing agent and asked her if they had any offers on the home and she said no. I then asked if she would entertain a contingent offer. She asked me if I smoked my lunch. She said this market is so hot that we don’t want to look at any contingent offers.

So I ask you, do you entertain contingent offers or do you reject them and say do not even send them? I’ll tell you, that I always take them. Here is why…

You never know when the buyer’s contingency will be lifted. They could get an offer in the next minute or hour. You never know.
When others ask if you have any offers on the property you can say yes. Keep in mind, you cannot tell what the offer is without the sellers permission. When a buyer knows there is another offer on a property the chances are that their offer will be higher or they may waive inspections to try to top the other offer.
And our jobs as listing agents are to help the sellers choose the best performing buyer for them. Sometimes that is not always the highest buyer. Sometimes it is not the quickest closing either. It could be that this contingent buyer may have the best terms for the seller except they just need to sell their home.

I ask all of you as agents to consider contingent offers. They might have the perfect buyer for your sellers property. And the contingent offers may help you sell the property for a higher price, faster, or even without inspections. You never know.

How do you get your offer accepted🤔
What do most agents fail to do in hopes to get their offer accepted ???
Scott Kompa discusses the basic, but most of the time, overlooked, thing that most agents neglect to do...🎯

How do you get your social media posts in front of people for free? 😱
There is no need to boost or run ads on Facebook and Instagram.
How are the numbers 15, 10, 5, 3, 2, and 1 going to benefit you? 💰
No, it's not a lottery.
It's the Fifteen, Ten, Five, Three, Two and One Plan.
First, block out just 15 minutes a day,
then make 10 comments and likes on other people's posts.
Next, make five posts per week on Facebook and Instagram
and of the five posts, make them three personal posts
and two business-related posts.
Finally, shoot one Facebook and Instagram live video
per week that's specific to real estate.
Then answer any questions during the video.
Afterwards, answer any comments, reply to any comments
It sounds simple and it is.
Make the plan and then work the plan.

Let me know if I can help you in any way. I will share everything that I know.

After some negative comments and messages here is my explanation of my why.

Scott Kompa gives tips and tricks on how to get 20-30 people into your open house.

How to Sell for the highest price in the shortest amount of time? Scott Kompa shares secrets to selling home.

What do you have in common with Bo Jackson?

Scott Kompa shares another game changing tips to working as a team.

Be like Tom Brady (I cant believe I'm saying that)

I share a secret of how to get my agents to be productive in real estate.

What's Holding You Back? If you are not growing, how do you expect to lead others? Don't let fear get in your way.