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.