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The 13% Podcast

Lance Billingsley

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Why do 87% of real estate agents fail? After decades in the business, we think we’ve found the answer: Real estate gives us the freedom and flexibility to build the life we want… Yet if we don’t have boldness, patience, integrity and the discipline to follow the right priorities, we’re guaranteed to be in the 87% that fail. Our character must show up in our EFFORT. So we’re sharing how to take on the mentality of the top 13%, become the person you’re meant to be, and earn a great living in t ...
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New or experienced, top producer or middle-of-the-road agent, it’s been a complex and challenging time to be in real estate. But in any market, some agents seem to have an unfair advantage. How do they keep growing when everyone else is stagnant or even contracting? The secret isn’t rocket science. These agents just outwork everyone else - they ove…
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Depending on the action you take, your database can be a collection of names or the foundation of a million-dollar business. Most agents know they should build their database and stay in touch with their sphere. It’s the one rule we’ve all been taught to follow from day one, but they just don’t. The result is missed deals, missed referrals, and a l…
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What does it take to become a 13% real estate agent? One who can outlast market shifts, interest rate hikes, inventory dips, and legal changes, without burning out or giving up. Over the past year, we’ve posed this question to top agents, brokers, coaches, and industry leaders. Their answers have revealed a clear truth: Success in real estate isn’t…
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Phoenix is officially in a buyer’s market, and for the first time in over a decade, agents are feeling uneasy. Gone are the days of multiple offers and sellers in control. Today, buyers have more power, more options, and more room to negotiate. For agents who built their business in a seller’s market, this new reality can feel like uncharted territ…
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With all the recent shakeups in real estate, some are saying the MLS is on its way out. Heated debates around Clear Cooperation and growing interest in listing segmentation, have left agents wondering if the future of the MLS is up in the air. Is it just a relic of the past? Is it still useful to agents or consumers? The MLS isn’t going anywhere. I…
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At a time when the value we provide is in question, the last thing an agent can do is devalue the representation we offer. Unfortunately, many agents unknowingly undermine their own value by falling into habits that erode the trust and professionalism clients expect. Whether it’s getting complacent in a hot market, neglecting client communication, …
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Many real estate agents have finally started dipping their toes into AI. But if you’re only using it to write listing descriptions and emails to clients, you’re just scratching the surface. That’s so 2023! From role-playing scripts and dialogues to crafting the perfect presentations, there are countless ways we could be leveraging ChatGPT to enhanc…
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Between legal battles, market slowdowns, tech disruptions, industry shakeups, and shifts in public perception, real estate agents are facing one of the most uncertain times in real estate history. Many are asking the same questions: What’s really changing? Will I still be relevant in 5 years? How can I protect my business and elevate the profession…
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In real estate, everyone’s chasing high volume—more deals, more leads, more dollars. But the harder we push for it, the more it seems to slip through our fingers. Funny enough, the top 13%? They’re not obsessed with the numbers—and that actually works in their favor. Here’s the truth: When we get too wrapped up in transaction counts and dollar sign…
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The troubling statistic that 75% of new agents are out of the business in 12 months doesn’t end there. By year 5, half of that remaining 75% is also gone. Why do so many agents (even talented, hardworking ones) fail to have staying power in this industry? The goal of this industry shouldn’t just be to hold onto the people who survive. We should als…
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Ever since the NAR settlement, real estate agents have been worried about the consumer paying them less. What they don’t realize is: most consumers think great agents don’t get paid enough. Buyers and sellers are hungry for exceptional customer service, and they’ll happily throw more dollars to an agent who provides it. If you want to win the consu…
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Real estate agents who are in the 13% aren’t just fighting for today’s listings. They are already working on winning listings months or even years from now. Today’s real estate market is changing rapidly, and the most successful agents know how to pivot and adapt accordingly. Thanks to AI and shifts in consumer behavior, the way people buy and sell…
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When a real estate agent is struggling to stay in the game, many factors get the blame. The truth is most agent failures boil down to one thing: a lack of listings. You can’t become a great listing agent if you haven’t built the skills for it…there are no shortcuts. In order to build a thriving business, we have to make sure we get to the listing t…
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Year after year, real estate agents are told that their sphere is the biggest source of business. We hear it time and time again, but we don’t do enough to reap the rewards. We do our jobs well. We kill it before and during the transaction, and we remind the people who know, like and trust us to work with us and refer us, but nothing happens. What …
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At the start of every new year, agents reset and recommit to their businesses…but that’s a problem. If you have to reset, you’re already starting the year on the backfoot. The top 13% don’t reset at all. Whether it’s January or October, they run their businesses consistently, no matter what. That means they never lose momentum, shrink their market …
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The end of the year is upon us, and for many real estate agents, that means one thing: it’s time to renew your license. But if 2024 was a tough year for you—if you barely closed any deals—you might be wondering, is it even worth it to stay in real estate? Should you push through another year, hoping for a turnaround, or is it time to hang up your l…
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Between social media and HGTV shows, there are a lot of people who enter real estate thinking this is an easy gig. All you need to do is get licensed and the deals will start rolling in, right? Wrong. A lot of the individuals who drop out of real estate are the ones who found out it wasn’t as easy as they thought it would be. Or they aren’t doing t…
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If there’s a factor that drives real estate’s staggering 87% exit rate, it’s burnout. We’re an industry of hard charging, high achievers, but sometimes that same drive can be the very thing that knocks us out of the business. Even the most talented salesperson will fail when they’re running on fumes, so it’s no wonder why a lot of the best agents f…
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Agents are constantly told that building relationships is the key to success in real estate, but this advice is missing a critical link. Relationships alone don’t lead to referrals, being relational does. The quality of our sphere relationships isn’t measured by how many names we have in our database. It’s measured by how often people are telling t…
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As the market shifts and buyer compensation rules evolve, many agents are left wondering how these transformations will impact their business. Navigating these changes requires more than just a quick update—it demands a thorough understanding of how new regulations will affect buyer expectations and agent compensation alike. Many REALTORS® are stru…
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In the wake of recent lawsuits and intense competition, many real estate agents are facing their biggest challenges of their entire careers. It’s no wonder why many feel overwhelmed and even uncertain about the future in the industry. The truth is, buyers today are looking for more than just a transaction - they want a trusted partner who can provi…
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In today’s fast-evolving real estate landscape, technology is changing how we do everything—including property appraisals. The rise of Automated Valuation Models (AVMs) has left many wondering: Is the traditional appraisal process going to be replaced? While AVMs offer speed and convenience, they rely heavily on data. But what happens when the data…
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In today’s market, there are many factors that can take an agent out of this business. One of the worst things you can do is treat iBuyers like the enemy and only offer the traditional real estate transaction. Platforms like Offerpad provide multiple ways for the consumer to sell a home, but a lot of agents don’t want to hear it (or tell their clie…
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If you’re a real estate professional in 2024, you’re competing with millions of agents and consumers have their pick of thousands of agents in their market. This is the reality of the business. If you’re wishy-washy, inconsistent and not putting effort into marketing, you’ll have NO PIPELINE and quickly find yourself in the 87% of agents who leave …
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Most agents put tireless work into every transaction, but their clients have ZERO CLUE about all the behind-the-scenes effort they put in. When we don’t articulate our value, people are left wondering if we do anything valuable at all. Realtor associations have the same problem. They do a lot of work behind the scenes and it goes unnoticed. Every d…
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If you’ve been in real estate, even for a few years, you’ll know that we’re always going to be thrown a curveball or two. If it’s not the rules changing up on us, it’s inventory, rates or low demand. There’ll always be something we have to navigate, adjust to, pivot from and overcome. Right now, the NAR settlement is the latest change we have to wo…
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Whether we like it or not, August 17 (and the changes it will bring to real estate) is coming. As agents we have 2 options. We can complain, bury our heads in the sand, and treat it like an extinction event. Or we can put ourselves in a position to gain more market share and make more money. Since the settlement was announced, more real estate agen…
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In real estate, the agents who struggle the most fall into two camps - the ones who are doing too little and the ones who are doing too much. You have the agents who have no idea what to do so they do nothing at all. Then you have the agents who are doing so many things they can’t gain momentum in a single area. The 13% have the same things in comm…
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Sales people often believe they are failing to meet their goals because they are doing all the wrong things. That’s often not the case. The truth is, many agents aren’t winning because they aren’t doing enough of the right things. We know what we need to be doing but we aren’t doing them frequently enough. Distractions make it hard for us to hunker…
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The real estate industry is notorious for its high failure rate, with 87% of agents not making it past the first 5 years. It's a tough industry, and without the right guidance, the odds are stacked against you. But what if there was a way to flip the script and become part of the successful 13%? With the right mentorship and resources, you can incr…
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In real estate, only 13% of agents who get into the industry make it past the first 5 years. Whether it’s leads, inventory, or rates, there are many threats to our survival and they can prove too hard for many agents. Industry disruptions and legislative changes are also huge threats to our long-term success. Recently, the NAR settlement has certai…
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If we’re taking the temperature of the entire industry, reactions to the NAR settlement vary wildly. From the fretful to the fired up, this is the worst thing to ever happen or the biggest opportunity, depending on who you ask. There will always be a disruption or regulation that changes how we do business, and it can be an existential threat or so…
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Why do 87% of real estate agents fail? After decades in the business, we think we’ve found the answer: Real estate gives us the freedom and flexibility to build the life we want… Yet if we don’t have boldness, patience, integrity and the discipline to follow the right priorities, we’re guaranteed to be in the 87% that fail. Our character must show …
  continue reading
 
How is the Real Estate Market? The Answer in 60 Seconds. Today, we're going to talk about two quick tips to inspire buyers to work with you. Talk about real product. When someone asks you about real estate, that is what they want to hear about. They don't want to hear, "Let me do some research and get back to you." They want to hear about product, …
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How is the Real Estate Market? The Answer in 60 Seconds. As a listing agent, the greatest weapon that you have is your listing presentation. It's how you win listings, sell homes, earn a living, and build a customer for life. So, is your presentation serving you well? Are you winning listings? Your presentation should focus on 3 critical elements: …
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How is the Real Estate Market? The Answer in 60 Seconds. I think a lot about performance gap. The principle of the performance gap is relevant to all businesses. The single biggest gap in business performance today is the gap between what we know and what we do. We all have high expectations of ourselves this year and beyond, and this is a great pr…
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