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Article Courtesy of: Inman News
By: Jimmy Burgess

Jimmy Burgess shares 10 specific prompts designed for real estate agents that will help you generate leads, grow your business and serve your clients at the highest level possible


ChatGPT continues to get better and better. This article shares 10 specific prompts designed for real estate agents that will help you generate leads, grow your business, and serve your clients at the highest level possible.

The following prompts are easily copied and pasted, but understanding how to write an effective prompt yourself provides the knowledge needed to take your business to a new level. Rajeev Sajja, my co-host of The Real Estate AI Flash on Apple Podcasts, has developed an easy-to-follow formula for writing effective prompts utilizing the acronym R.I. S.E.

Although you may not use this complete formula in every prompt, the framework is helpful in providing ChatGPT the information it needs to give you the best response possible. This is a breakdown of the formula you can utilize:

R – Role

What role do you want ChatGPT to play? In the first prompt below, the first sentence that says, “Act as an expert real estate agent business coach,” is the role.

I – Input

The input you provide helps ChatGPT get a better idea of the goal for the prompt. In the first prompt below, the second sentence where it says, “I am a real estate agent that would like to generate two listings per month in 2024,” is an example of the input.

S – Specifics

The specifics help ChatGPT understand additional details about what you are trying to accomplish through the prompt. In the first prompt below, the third sentence where it says, “I currently generate listings from geographical farming and sphere of influence referrals,” is an example of specifics.

E – Expectation

The expectation you provide helps ChatGPT understand what it is you want it to do or what you expect to be able to achieve from the response to the prompt. In the first prompt below, the last sentence where it says, “Provide me with 20 strategies that can help me generate the seller leads needed to take the two listings per month that I’ve set as my goal,” is an example of an expectation.

Hopefully, this formula will help you write better prompts and, in turn, receive better responses. Now, let’s get to the prompts that we are getting results with right now.

1. Listing lead generation idea prompt

If you’re looking for ideas on how to generate listings this year, this is an example of a prompt that will help.

Act as an expert real estate agent business coach. I am a real estate agent that would like to generate two listings per month in 2024. I currently generate listings from geographical farming and sphere of influence referrals. Provide me with 20 strategies that can help me generate the seller leads needed to take the two listings per month that I’ve set as my goal. 

As with all these example prompts, adjust them to reflect truths about your business and don’t be afraid to test a number of different versions.

2. Buyer lead generation idea prompt

If you’re looking for buyer lead generation ideas, this prompt will provide 20 options.

Act as an expert real estate marketer and provide me with 20 creative ways to generate real estate buyer leads in the current market environment.

3. Google Business Profile review generation prompt

Reviews on your Google Business Profile page add credibility and an opportunity for organic lead generation. This prompt will help you craft an email that will get you the reviews you desire.

Act as an expert copywriter specializing in working with real estate agents. My goal is to increase the number of reviews on my Google Business Profile Page. Provide me with an email to past clients thanking them for their business and asking them to click on the link provided to leave a Google Business Review. The tone for the email should be conversational and gratitude-driven based on them doing business with me in the past. Also, provide me with three email subject line options for this email.

4. LinkedIn article for seller lead generation prompt

LinkedIn continues to prove itself as an underutilized lead-generation platform. This prompt will help you craft a blog post that the LinkedIn algorithm will love.

Act as an expert real estate copywriter and provide me with an SEO-optimized LinkedIn article with seven things a seller should do before listing their home for sale in [your city] in the spring. No. 7 in the article should be to call me for a free, no-obligation valuation analysis and a list of things that can be done to the home prior to listing it to maximize the sales price.

5. Social media content creation idea prompt

Are you struggling with content creation ideas? This prompt will help you grow your audience and influence in your local market. Although this example mentions Instagram, simply substitute your platform of choice for comparable results.

Act as an Instagram expert specializing in creating content for real estate agents. Provide me with 20 Instagram post ideas that will showcase me as the local real estate expert in [insert your city]. The goal of these posts is to increase engagement with the actual posts and followers of my page.

6. Business growth plan prompt

Do you have a goal to grow your business in 2024? This prompt will help build a plan of action that can make it happen.

Act as an expert real estate business coach. My goal is to increase my real estate sales business by 20 percent in the coming twelve months. Ask me as many questions as you need to understand my current business so you can provide me with strategies and a plan of action that will help me achieve my goal of growing my business by 20 percent in 2024.

7. Social media bio optimization prompt

The key to expanding your reach on social media is to gain followers. This prompt helps you optimize your bio in a way that encourages people to find your page and to follow you.

Act as an Instagram expert specializing in helping real estate agents grow their Instagram following. Ask me any questions you need that will help you write a compelling bio for my Instagram page that will increase my follower count.

8. Client appreciation ideas prompt

One of the best ways to generate referrals is to show your clients how much you appreciate them. This prompt will keep you top of mind when the opportunity for them to send someone your way arises.

Act as an expert real estate marketer specializing in showing past client’s appreciation. Give me 20 creative ways to say thank you and show my appreciation for those past clients and their business.

9. MLS description prompt

Pictures are what capture potential buyers’ attention, but in many cases the MLS description is the deciding factor on whether they decide to schedule an appointment to see the home or move on to the next listing. This prompt makes sure your MLS description helps your listing put its best foot forward.

Act as an expert real estate copywriter specializing in writing MLS home descriptions. Provide me with three MLS descriptions with one written in a conversational tone, one written in a professional tone, and one written in a luxury tone. Use the previous MLS description below for details of the home, but make sure the descriptions you provide are unique. Here is the previous MLS description: [insert previous description]

Once it provides the three options, show them to the homeowner and ask which they prefer and if there is anything additional they think you should highlight in the description.

10. Price reduction marketing plan prompt

As the market normalizes and days on the market increase, the need for price reductions will return to the market. This prompt provides ideas you can mold into a price reduction marketing plan for the homeowner that you can provide with the price reduction request. This plan of action provides the seller with confidence that the price reduction along with your proactive marketing plan will help them get the home sold.

Act as an expert marketer specializing in real estate marketing for homes with a recent price reduction. Give me 20 creative ways to market the home that will get it the exposure needed to get the home sold.

ChatGPT is available for everyone, but not everyone will take advantage of the opportunities it presents. Invest the time to learn this innovative technology and not only will you not be left behind, you will separate yourself from your competition.

Jimmy Burgess is the CEO for Berkshire Hathaway HomeServices Beach Properties of Florida in Northwest Florida.

10 Powerfully Effective ChatGPT Prompts for 2024
Whether commissions can be paid to an LLC depends on how the LLC is established and by whom. First and foremost, Massachusetts real estate licensing laws prohibit the sharing of fees, commissions, or other valuable consideration with an unlicensed individual. This restriction extends to corporate entities, such as LLCs, which must be validly licensed. For a corporation to become licensed, Massachusetts General Laws Chapter 112, Section 87UU mandates that a partner or officer of the corporation hold an individual broker’s license. This means that the corporate entity must have its own corporate broker’s license in addition to the officer’s individual broker’s license. If the principal no longer holds an active broker's license, the corporation also loses its valid license.

As a result of this requirement, salespersons may never receive real estate commissions through an LLC or other corporate entity. For individuals with a broker's license, setting up an LLC to receive commissions is possible, provided the entity is properly licensed, which includes obtaining a separate broker bond.

Courtesy of the Massachusetts Association of REALTORS® Legal Team.
Can Commissions Be Paid To An LLC?
Article Courtesy of: Inman News
By: Darryl Davis

As we continue to watch the unfolding of change and challenges in our industry, what we know is that the real estate agents who not only will survive — but also thrive — will be those with advanced skill training.

With the National Association of Realtors reporting it’s largest decline in membership in a decade, the message is clear: Adapt and enhance your skills or risk falling behind. We want to share some key strategies for success with a focus on training that agents must embrace in 2024 to excel in today’s ultra-competitive market.

1. Comprehensive skill training

Top-tier training in communication, negotiation, and marketing skills is the first must do. Agents who want to stay ahead, stay compliant, and stay in business can’t rely on old skills and strategies.

This should be the year of training — as much as possible. Seminars, webinars, workshops, courses, mentorship programs — all of which can help shorten learning curves and give you technical and relationship-building advantages as well as additional confidence to meet prospects and clients armed with knowledge and skills to do the best possible job for them.

2. Mastering digital marketing

In an increasingly digital world, proficiency in digital marketing is crucial. Agents should focus on creating a strong online presence with solid branding, leveraging social media with a balance of personal and business posts, and utilizing digital tools to reach and engage with a wider audience.

However, don’t use these tools to replace the human connection, but rather to enhance those connections.

3. Effective networking strategies

As they say, it’s all about who you know. Building and maintaining strong networks of agents, vendors and clients alike is more important than ever. Agents should actively engage in industry events and local community activities, developing these connections for opportunities and referrals.

4. Utilizing advanced technologies

Embracing technologies, such as artificial intelligence, can significantly enhance the buying and selling experience for clients. Regardless of your experience (or lack thereof) with these advanced tech tools, agents should take the time to learn how to use them. There’s no shortage of training and options!

5. Exceptional customer service

Outstanding customer service remains a cornerstone of real estate success and the hallmark of a great agent. Agents must focus on building trust and long-term relationships through attentive, empathetic, and personalized service, especially in the wake of the negative press that has been so prevalent recently.

Transparency, advocacy, communication and honesty are game-changers. Being a great agent is more than a successful transaction. It’s cultivating connections that withstand the test of time.

6. Strategic marketing techniques

As you know, (but not all clients do), selling a home is more than just sticking a sign in the yard. It’s about getting as many buyer’s eyes on it as possible. Agents need to employ specialized marketing techniques and have a solid understanding of the target audiences. Agents must also understand how to use data analytics to create more effective campaigns.

7. Effective time management

Time management is more than just balancing multiple clients and listings. Balancing prospecting, lead generation, social media posting, and reaching out regularly to past clients are all imperative.

All of these things require excellent time (and life) management skills. Agents should use productivity tools, such as a CRM and automated social media posting, as well as prioritize tasks to maximize efficiency.

8. Lead generation and client retention

Generating new clients doesn’t have to be difficult. It can be as easy as wearing your name tag in public and striking up a conversation or two.

Simple conversations in line at the market, the bakery, and even Home Depot can turn into amazing new clients and referrals.

Maintaining strong relationships with existing clients means staying top-of-mind. Once again, this is where a CRM and systems can help even the busiest of agents keep contacts from falling through the cracks.      

9. Staying informed on market trends

This industry can change on a dime (and has), and agents should stay abreast of market trends and real estate news to coach their clients accurately and adjust strategies for conducting their business.

Agents who don’t have a clear picture of what is happening in the market will quickly fall behind and be left without answers when news-savvy consumers have questions. 

Related reading: 49% of agents sold either 1 home or none at all in the past year: CFA

To be a top-performing agent in 2024, prioritizing skill development will be your best way to adapt to the changing market. Remember, success in real estate isn’t just about sales numbers. Serve, don’t sell. Coach, don’t close.

Although those may seem like semantics to some, they have made all the difference in how consumers perceive and communicate with our members. No one wants to be “sold” in today’s world. They want advocates and trusted resources and to know that the professionals they align with have integrity levels they can count on. 

This year, stay committed to your personal and business growth, be agile and ready to adapt to our evolving industry in whatever form it takes, continue to provide exceptional value to your clients and keep them first and foremost in your business. After all, this is a people business, and they need you more than ever.

Darryl Davis is the CEO of Darryl Davis Seminars.
9 Action Steps to Grow Your Business in 2024
Housing & Homeless Assistant Grants Available

Do you have a housing-related non-profit close to your heart?

Please consider submitting an application for a 2024 Housing & Homeless Assistance Grant to support them with a grant of up to $2,500. These grants are available to housing-related 501(c)(3) non-profit organizations, which provide shelter, food and clothing, mortgage and/or rental assistance, home buyer counseling or other similar support in one of GBAR's 64 towns and cities or in a community where a member firm is located. For more information this initiative, including eligibility and deadline to apply, please visit the GBAR Charitable Giving page.

Placemaking Grant Program

In partnership with NAR, we offer these grants to help make our communities better places by creating new, outdoor public spaces and destinations on unused or underutilized sites. Grant limits have been expanded to allow for larger project budgets and new project types including trailheads, playgrounds, pocket parks, community gardens, downtown gathering spots, and many more. If you can think of a space in your market area that could use our support, click here to learn more. 
Charitable Grant Applications Available!
Article Courtesy of: Inman News
By: Darryl Davis

Transparency and communication are more important than ever before. Darryl Davis offers essential talking points for your next commission conversation with sellers

In the wake of the landmark legal ruling against the National Association of Realtors (NAR), homeowners and industry professionals alike are re-evaluating the conventional practice of sellers paying commissions for both the buyer’s and seller’s agents. This verdict has sparked a nationwide debate, questioning the fairness and efficacy of this long-standing tradition in the U.S. real estate market. 

While the outcome of the lawsuit may not immediately revolutionize existing practices, it does open a critical dialogue about the distribution of commission costs. I want to explore the benefits that sellers reap from adhering to the traditional model, shedding light on the advantages of this practice becomes more pertinent than ever, providing sellers with compelling reasons to continue shouldering both sides of the commission.

This won’t change the outcome of the lawsuits, but it should give you some compelling ways to articulate the benefits to the seller for paying both sides of the commission.

In the United States, the seller almost always pays the commission for both the selling and buying agents, a practice that has been much scrutinized with lawsuits continuing to pop up.
However, this approach has been a cornerstone of real estate transactions for decades. Understanding the benefits of this practice is crucial, especially in the current climate of legal and regulatory challenges.

Advantages of seller-paid commission for sellers

• Increased buyer interest: When sellers cover the commission, the property becomes more attractive to a broader range of buyers. This is particularly beneficial in competitive markets, where every advantage counts.
• Potential for higher selling price: Because buyers don’t need to reserve funds for commission, they might be willing to offer a higher purchase price.
• Faster sale of property: By removing the extra financial burden on buyers, sellers often enjoy quicker sales, reducing the time their property spends on the market.
• Simplified negotiation process: With commission costs off the table, negotiations can focus squarely on the property’s price, streamlining the discussion.
• Reduced financial burden on buyers: This approach makes properties accessible to a wider pool of buyers, some of whom might have limited available cash for upfront costs.
• Enhanced seller reputation: Sellers who cover commission costs are often viewed as more motivated and cooperative, traits that can attract serious and qualified buyers.
• Streamlined transaction process: The transaction becomes less complex with fewer parties negotiating over commission payments, leading to a smoother overall experience.

Here’s the deal. Until we get more direction from the “powers that be” on what and how buyer’s agents should be paid, we should probably keep doing what we are doing — but with a lot more transparency and better communication skills with everyone involved.

The practice of sellers paying the buyer’s side of the commission in the U.S. real estate market has deep roots. While recent legal challenges have put these practices under the microscope, it’s clear that this method offers multiple advantages for sellers.

From attracting more buyers to potentially fetching higher selling prices and ensuring a quicker sale, the benefits are significant. As the industry navigates these legal waters, understanding the rationale behind this practice helps in appreciating its value in the complex world of real estate transactions.

Additionally, NAR provides several resources to help you discuss compensation with consumers:


Darryl Davis is the CEO of Darryl Davis Seminars.

7 Perks of Seller-Paid Commission to Share With Homeowners
The Greater Boston Association of Realtors’® (GBAR) Diversity Scholarship Program was created in 2023 to provide training and financial support to members of racial minority groups who aspire to a career in real estate.  By establishing this scholarship program, it is our hope to promote an inclusive environment within the local real estate industry in which the population of licensed real estate professionals mirrors the diversity of home buyers and homeowners residing in the 64 communities in the Greater Boston region served by GBAR.  

Each year, the association will seek to award a minimum of 10 scholarships to cover the cost of attending the real estate salesperson pre-licensing course, the registration fee to take the salesperson’s licensing exam twice (if necessary), and first-year of membership dues to join the Greater Boston, Massachusetts and National Associations of Realtors®, for those who affiliate with a Realtor® member firm of the GBAR.  GBAR has partnered exclusively with the New England Real Estate Academy to provide pre-licensing course instruction to scholarship recipients, which includes 20 hours of online training via webinar and 20 hours of self-directed study, digital and audio versions of the “Principles of Real Estate Practice in Massachusetts” instruction manual, and access to a monthly study group, quizzes and a practice final exam.  

Scholarship recipients will be provided three months from notification of selection to enroll in the salesperson pre-licensing course and six months from the date of enrollment to complete the course.  Course fees will be paid in advance by GBAR, while the license exam fee will be reimbursed to scholarship recipients following completion of the examination, provided appropriate documentation is provided, and application for Realtor® membership with GBAR is made within 60 days of passing the licensing exam.

If you are interested in applying for a GBAR Diversity Scholarship, we recommend reviewing the eligibility and application criteria cited below prior to submitting an online application.  Applicants should be aware that an interview with the scholarship selection committee is part of the application process. 

The deadline to submit an application is March 1, 2024.  For questions, contact GBAR at 617-423-8700 or 617-224-9303.

Scholarship Eligibility Criteria:

Applicants must be:
- At least 18 years of age;
- A legal U.S. resident and permanent resident of Massachusetts;
- Residing in one of 64 communities in the Greater Boston Real Estate Board/GBAR jurisdiction;
- A member of a racial minority.  Racial minority is defined as a person of race or national origin that is African American, Asian American/Pacific Islander, Hispanic/Latino, Middle Eastern American, Native American.
- Able to satisfy the requirements for licensure for real estate salespersons set by the Massachusetts Board of Registration of Real Estate Brokers & Salespersons;

Scholarship Application Criteria:

- Complete the required scholarship application on or before March 1st.
- Submit two personal letters of recommendation;
- Students currently enrolled in a pre-licensing course with New England Real Estate Academy are ineligible to apply;
- Individuals shall interview with the scholarship selection committee as part of the application process

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APPLY HERE

GBAR Announces Diversity Scholarships Program
 

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Rentals the Right Way! Webinar
Mar 06, 2024 - Mar 07, 2024
Zoom
Real Estate Professional Ethics Webinar
Mar 21, 2024
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Manageable Monday: Buyer Agency Webinar
Mar 25, 2024
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At Home with Diversity Webinar
Mar 26, 2024 - Mar 27, 2024
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Building Bridges Not Barriers Webinar
Apr 11, 2024
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Rock 'n Roll Bingo
Apr 11, 2024
Holiday Inn Boston-Dedham
55 Ariadne Rd
Dedham, MA
Real Estate Professional Ethics Webinar
Apr 23, 2024
Zoom
Seller Representative Specialist (SRS)
Apr 25, 2024 - Apr 26, 2024
GBAR Member Services & Training Center
68 Main Street
Reading, MA
M.M.: Due Diligence in Seller Representation Webinar
Apr 29, 2024
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Real Estate Professional Ethics Webinar
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Manageable Monday: Buyer Agency Webinar
Zoom
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