Podcast
The Blueprint with Mike Prewett
Hosted by Mike Prewett · EN
Experience the daily business building strategies that lead agents down the Path to $20 Million.....
Looking to increase your skills and become a top producing agent? Check out these practical tips and ideas to increase your business.
35episodes
Episodes
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Good Idea vs. Bad Idea: Teams
3w ago00:06:10Tap to summarizeMike, the speaker, criticizes the concept of real estate teams, arguing that they are often used as a means to extract money from agents rather than to provide necessary support. They suggest that agents could collaborate more effectively without giving away a portion of their earnings. They also criticize the practice of wearing another person's name on a shirt, likening it to joining a team. They suggest that agents should focus on improving their skills and collaborating with others who can fill in their weaknesses. They conclude by stating that teams are often used for financial gain rather than to manage workload effectively.
Transcribe →Debunking Real Estate
3w ago00:06:23Tap to summarizeMike, a real estate agent, discusses the challenges faced by agents trying to balance part-time work with the expectation of full-time earnings. They highlight the 'ferry tail' myth that many agents fall for, believing that real estate can be a lucrative part-time business. Mike emphasizes that this is not the case and that agents need to prioritize their business and treat it like a full-time job, involving early mornings and dressing professionally. They encourage agents to confront their misconceptions and leverage the opportunities in the industry, sharing that some agents are thriving despite market challenges. Mike concludes by urging agents to commit to their business and abandon their '[expletive] excuses' for not succeeding.
Transcribe →Diligence Contingency
4w ago00:05:44Tap to summarizeMike discusses the importance of a due diligence contingency in home buying contracts for property inspections. However, they express concern about how this is often used for negotiation tactics and marketing by inspectors. Mike suggests that buyer agents should better educate their clients about reasonable expectations and that listing agents should include a reverse contingency clause in contracts to allow sellers to keep their listing active and cancel the contract during the due diligence period. Mike also criticizes the practice of asking sellers to make repairs to the property, noting the misalignment of incentives and the potential for contentious negotiations.
Transcribe →The Importance of Managing Emotions
4w ago00:05:55Tap to summarizeMike leads a discussion with Hannah on various real estate transaction topics. They discuss the importance of managing emotions in transactions, the folly of buyers asking sellers to make repairs, and the challenges of closing transactions at month's end. Mike also critiques the practice of collecting earnest money deposits during due diligence, suggesting it's unnecessary. Additionally, Mike expresses frustration with people who don't acknowledge birthday well-wishes, urging a simple 'thank you' response. The call concludes with a motivational message to the participants.
Transcribe →Marketing Strategies
Jul 800:11:08Tap to summarizeMike leads a discussion on effective real estate marketing strategies, focusing on the importance of listing in both MLS systems, high-quality photos, accurate data, and robust descriptions. They emphasize the need for listings to be compatible with AI searches and the importance of accurate directions. They debunk the importance of open houses, social media ads, and reverse prospecting for selling listings. Mike encourages agents to focus on their unique selling proposition and to schedule coaching sessions to improve their sales strategies.
Transcribe →Good Idea vs. Bad Idea
Jul 700:03:40Tap to summarizeMike leads a session with Hannah, discussing various aspects of real estate. They talk about working with home buyers and sellers, with Mike suggesting a shift towards buyers due to current market conditions. Mike questions the effectiveness of two-hour open houses and working from home. They discuss the importance of an agent's network, suggesting a minimum of 500 engaged contacts for every three transactions. The conversation ends with a light-hearted discussion about ice cream preferences.
Transcribe →When it comes to Listings…
Jul 600:10:31Tap to summarizeSummary: In this meeting, Mike emphasizes the importance of changing the approach to listing homes, focusing on the seller's needs rather than relying on traditional valuation methods. They criticize the industry's reliance on telling sellers what their home is worth instead of asking them. Mike suggests using active listings as a benchmark for pricing and advises agents to take sellers on a tour of comparable homes to help them understand the market. They encourage agents to avoid giving a specific price and instead provide information that allows the seller to make an informed decision. This approach aims to differentiate agents from their competitors and improve the chances of selling the home. Action Items: Review the most competitive active listings to help sellers understand their home's market positioning.,Mike to provide examples of how to address list price adjustments in the next connect session.,Agents to practice asking sellers about their price expectations and concerns during listing appointments.
Transcribe →The Difficulty Of Self-Management
Jul 100:04:30Tap to summarizeMike leads a discussion on the challenges of being a real estate agent, focusing on the difficulty of self-management rather than the tasks of the job itself. They suggest that many people struggle with the freedom and flexibility of self-employment, likening it to the struggles of newly independent college students. Mike argues that while real estate agents may know what to do, they often lack the discipline and maturity to manage themselves effectively, resulting in a lack of productivity. They advise the participants to take action and manage their business effectively.
Transcribe →Daily Habits Over Setting Goals
Jun 3000:04:58Tap to summarizeMike initiates a call with a focus on the importance of daily habits over setting goals. They share a quote about success being determined by daily habits and not just setting goals. Mike discusses the disconnect between the goals people set and the habits they maintain, suggesting that the latter is more influential in achieving success. They recommend a book by James Clear, 'Atomic Habits', for further insight into this concept. The call concludes with a challenge to implement habits that will lead to success.
Transcribe →Good idea vs. Bad Idea
Jun 2900:03:43Tap to summarizeMike leads a call with Hannah, playing a game of 'good idea, bad idea'. They discuss various topics including serving on an HOA board, which is advised against unless one wants to help without taking on a leadership role. Hiring one's children in a business is considered a good idea if done correctly, and Mike encourages those considering it to seek their advice. Dressing well for work is a good idea to maintain professional standards, and maintaining a clean car is also advised. The discussion also covers the use of lead generation programs, which can be beneficial if used correctly, and the importance of not giving away too much of one's income to such services. The call concludes with a light-hearted discussion about footwear preferences.
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