You Have 10 Listings But Zero Closings (Here's Why)

If you're a real estate agent and you are struggling right now, you're putting in the work, you're you're doing everything that you know you can do to get out there and crush it and just nothing's happening. I have to share this with you. Uh there was a phone call that I had yesterday from one of my agents. He said, "Ricky, I'm working hard. I'm pushing. I'm talking to prospects. I'm even getting listings, but nothing's happening. Buyers aren't buying. Sellers aren't selling. Like, I don't know if it's something I'm doing wrong or what the deal is." And I'm telling you right now, a lot of agents are feeling the exact same way. So, I thought I need to share with you what I shared with him because I know that you're going to find this incredibly useful. And I hope my hope is that you take this video and the information I'm sharing and use it to to to start moving in a different direction than you're moving in right now. Because if you're busy, if you're grinding, maybe you're getting listings on the board, but nothing's happening. Deals aren't closing, revenue isn't isn't coming in, but deals are continuing to come in, then like what you're doing is not working, right? And it's not the market because you can look in your market and see deals are closing. So, why aren't you closing deals, right? And you're probably sitting there wondering like, what in the heck's going on? Like, what you're missing? I'm going to tell you what he was missing. I guarantee you it's what most agents are missing right now. Because in this market, you have to be super strategic with with what you're focusing on right this second. I want to tell you how you can use market information to not only become a local market expert, but but you can use that information to get leads and not only to get leads, but to convert leads at a higher rate. All right? So, I'm going to I'm going to tell you what this is. And it's costing agents months and months and months of wasted effort, wasted work. I mean, they're grinding their face. Like, I know I know agents that are struggling that are literally working so incredibly hard. And the question is, is is the number one agent in your market working harder than you? I guarantee you that they're not, but they're focused on the right the right the right things, right? So, so let me dive in here. Um, because I just this is going to be so valuable to a lot of agents. All right. The very first thing I asked him because we're we're basically going into a coaching call here. He calls me out of the blue. He's like, "Man, I'm struggling. Like, I'm really grinding. Nothing's happened." And I said, "Okay, let's let's start at the top. How many deals are closing in your market every single day?" He said, "I don't know." I said, "All right. Um, do you do you look like do you look at your MLS hot sheet? Do you pay attention to it? He's like, "Yes." And like one of the one of the things in in in Diamond Plus, the coaching program, is that we watch that MLS hot sheet every day like a hulk. And I'll explain why in a second. I'll tell you what to look at in a second. I'll tell you how you can use that information to get and convert leads in a second. But he's like, "I look at it. You tell me to look at it, so I do. But honestly, I don't need to know how many deals are closing every day to be motivated. He's like, I know deals are happening right every day. And that's one of our core principles. Closings will happen every single day for the rest of your life regardless of market conditions. So, he's like, I know that, but that's when I realized he's missing the entire point of this. Okay. Looking at your MLS hot sheet is not about motivation. It's not a nice to have. It's literally the foundation of everything. I got so incredibly rich as an agent. I'm telling you, like this one core activity every single day is is one is one of the very few most important things that I did that that is kind of like one of those sleeper activities that catapulted me like it catapulted me to the top being the number one agent in our market. Like I truly believe that this is maybe one of the top two or three reasons why I became a top, you know, the number one agent in my market. All right, but let's just I said, listen, if I if I were a client talking to you right now and you didn't know how many deals are closing in your market, I wouldn't believe you're market expert. Now, a client's not going to ask you how many deals are closing in your market every single day. I get that. But but nevertheless, like if I don't know that and it's something that like if this is my job and he's a full-time agent. If this is my job, then like that that literally should be like at the very forefront of my mind. And if he doesn't know that, I guarantee you he doesn't know other pretty simple answers. And it's not like you have to go out there and become like an expert, like a like an encyclopedia of the data of your local market. I'm not saying that. knowing how many deals are closing. That's basic. That's oneonone stuff. And if he doesn't know this one-on-one stuff, I guarantee he doesn't know other one-on-one stuff, which means he's probably either too spread out or he's just going through the motions of looking at the data. Nevertheless, if I'm a client, I'm looking for a specialist and if you like if I realize you're not a local market expert, I need a local market expert. I'm probably going to go find a different agent. So, it's going to crush my conversion rate with and and I don't even realize it because they're not going to tell me, "Hey, you don't know about the market, so I'm going to go find somebody else." They're not going to say that, but it's what they're going to do. And then you're not even going to understand why. Okay? So, the number one reason why you should study that MLS hot sheet, your local MLS hot sheet religiously is because you want to become a legitimate market expert, not in your head, not some someday, right now. Okay? And here's why it matters. When you're watching the number of closings, the number of pendings, new listings, expired, you're scanning that data and you're really understanding the flow, right? the macro flow, what's happening in your market like overall. Okay, the micrflow, what's what's actually moving, which neighborhoods are hot, which aren't, like what price points are are selling really quickly, which ones are stalling, who are the agents that are selling these properties, and like I want to go talk to these agents. Like, I want to understand. It's like when I have a listing and every two weeks, every other Friday, I would call uh my clients who I have listings with and give them updates. I would give them the internal data of the listing like the showings and what the feedback is and all those things and external data which is like what's happening with the listings around the the listing. And when I'm talking about the external data, I would I would look at all the homes around the home that I have listed. And if I see an interesting piece of data, like something's under contract or something sold for a higher price or something's been sitting there for a while, whatever it is, I would call the agent and I would say, "Hey, tell me about this." Right? And I would get some inside information. Same thing here. Like if you see pro if you're struggling and you see properties that are moving, why not call those agents and understand that market of whatever sector that is that's really hot, instead of focusing all your energy on these things that aren't moving, why don't we focus our energy on the things that are moving, right? Where are the buyers coming from? Are they first-time home buyers, relocation, upgrade buyers, downgrade buyers? Is it new construction buyers? Right? Are they existing home buyers? Like you need to know this stuff right now more than ever in this market that that is challenging, right? This is this is the most challenging market that you will ever see in your lifetime. Like we'll never see I don't believe we'll ever see another market that's as challenging as this. Whereas you have the lowest sales per population with all-time high prices. I just I just don't think we'll ever see this type of stalemated market with really low inventory. Like it it it's insane. And so you need to know now more than ever which sectors in your market are the hottest so that you can focus all of your effort there. Now this agent, he knew about the hot sheet. He was going through it. He wasn't obsessed over it, right? He wasn't obsessed over learning it. I was so obsessed over understanding every single little thing. I could tell you how many total condos were for sale. I specialize in condos on the beach. I can tell you how many were for sale in I could tell you how many had sold so far this year. I can tell you how many sold all of last year. I could take square foot price. I could do all these things off the top of my head because I was so obsessed with it. He was just scanning through going through the motions, keeping up with a few things, but it wasn't locked in on the data, which subconsciously creates it. It creates a monster, right? So, he was pushing towards the wrong things, making decisions about who he is targeting just for the sake of targeting them. Like for example, like he has 10 10 listings, two pending deals, right? He's like grinding and he's now focusing on $5 million homes an hour away. I'm like, bro, you have to like get your bread and butter, which is the average price of the market where you are. You have to get to where you're you're hitting you have that like in place and you're consistently closing deals there before you start trying to add on these luxury properties, right? And so you need to get to a place where he's like, "Well, I have 10 listings." So, I thought I got my I got that down. Let me go do this. I'm like, dude, listings aren't closings, right? You need you need three to five closings consistently, I believe, in the average price point put in your market before you start trying to increase your price point. It's like stages like go out there and and establish that three to five deals a month consistently for a while and like you've got that bread and butter, that average price point in your market down and then work to increase your price per point. Don't just do it for don't like why are you going after $5 million property owners an hour away? what data tells me are are $5 million property owners in our way flying off the shelf and I don't know but but the fact of the matter is the more we dug into it I was like bro you should be looking at the higher end of pricing where you are so like he's he's in that 4 to 500 range right now 3 to 500 range and I'm like there are $800 to a million dollar homes selling in your market right there 2 seconds away from you and like you can focus on that to increase your price point you don't have to go for $5 million properties an hour away when in fact you aren't even to the stage where you need to increase your price point because you don't have consistent closings coming in with the average price yet. Like these are all things that he was doing that was taking away from what he should be focused on. It's like he was on stage eight when we're still on stage three. And so don't just go after certain sectors for the sake of going after certain sectors cuz you think it's a good idea. Look at the data. like look at the data and then and then use the data to make sense out of what you're doing and look at the entire situation and say this is where like I feel like I can crush it based on XYZ. And a lot of agents are not doing this. They're just going after like whatever with no data back in their decisions and that's what's killing them. Now, here's another reason to stay locked into that MLS hot sheet. Um you're going to spot opportunities that most agents miss. You're going to watch properties come on the market in real time and it's going to trigger a memory. You're going to think about a past client. You're going to think about a prospect you're working with. And now you have a reason to reach out to them that is not this fake check in. Hey, I'm just wondering how you're doing. Checking in to say, "Hey, what's going on?" You can call and say, "Hey, did you see that property come on the market in your subdivision?" You know, like you sold them a house 3 years ago. Hey, Bob, did you see that home come up? Like, how you been, man? How's the house? How's the wife? How's the kids? Did you see that house come up uh right there across the street from you? You know, like and like like, "Yeah, dude. I It's like, yeah, I saw it, man. Made me think of you." You know, like, "Here's what I notic about the market." Like, you just like you're calling with a real reason behind something. Maybe you have a prospect looking for a specific property you just happen to see something on the hot sheet. Like, you're reaching out with information. I guarantee you that that prospect and past client does not have yet. And now they're like, "Wow, this person, this agent is on the ball." And they're going to look at you as their inside connection, their inside window to the market, and their agent for life. This is going to help you convert better because when you're talking to prospects and you're like rattling stuff off the top of your head, man, like like other agents are not they're not even on even anywhere close to your level of understanding the pulse of the market. Now, you're bringing real value. you're bringing real value and like it's how you become their agent because when you know the market like that, you communicate differently. You see you see and and like here's another thing. You see different pathways for your clients that other agents can't see. You understand options that other agents don't understand. You're giving them like opportunities and advice based on things that other agents don't even realize because you're paying attention and they're not. This is how legitimate market expertise turns into turns into listings, turns into clients. So, this agent calls me back the next day, right? He's fired up because he finally saw the data. He looked at the hot sheet with a fresh set of eyes and he's like, "Here's what I realized. 32 closings per day." Like, he wasn't even paying attention. Like, he's like, "There's 32." He's like, "There's more going on in our market than I realized." 32 closings per day average as a market for the last few months, right? that's actually happening. That's two opportunities, right? A buyer and a seller. So, here's what he's doing now. Like, or here, here's what he was doing. He was targeting $5 million properties like an hour away. An hour away. Driving an hour to chase the deal there and back. That's two-hour drive. Every time you have to go do something that didn't even exist in the data, he was busy. He was working. He was working on the wrong things. He wasn't even paying attention to to opportunities that was right there in his backyard. And nobody told him to stop and look at the data first, right? So I told him, don't do things for the sake of doing things. Do things because the data says it makes sense. And don't drive an hour away to chase $5 million homes if $5 million homes aren't flying off the shelf. Instead, go local. Look at your market. Right? If you're selling three to $500,000 homes, let's target the higher end of that. Like I said, not an hour away. You know, 800 to a million, 1.2, 2. These homes are right under his nose. So he looked at his market and realized something. Those homes are selling. The 800, the million, the 1.2. They're selling well. Actually, they and they weren't over his radar cuz he was so locked into and he told me he was like, "These $5 million homes are so sexy. Like I can do do a video with waterfront like all these things." I was like, "Bro, sexy ain't paying the bills." Like like be super strategic right now. Look at where look at where chasing sexy is is got you right this second. Like you're sitting here mentally drained. You're struggling. You're grinding. Nothing's happening. Get to where you're closing three to five deals. Really like you need to focus on getting to 10 closings a month in your market where maybe one or two of them is in that 800 to a million range. And then look at how incredible your life is going to be at that point. So maybe you're in the same boat he was. You're working really hard. Nothing's happening. you're probably just pushing in the wrong direction, right? Stop. Look at the data. Study your hot sheet like your commission, like your life depends on it because it does. And if you want to learn the new way to convert leads, click this video right now before it goes