Looking for new ideas on how to keep more real estate profits by lowering expenses for your real estate team? Raleigh, NC real estate agent Jennifer Spencer shares her unique compensation and incentive approach that helps with agent retention, motivation and work/life balance. Along with this real estate team model that lowers expenses and keeps profits high, Spencer also shares her strategy for pairing Zillow reviews with Zillow advertising along with other real estate marketing strategies you can put into action right away to generate seller and buyer leads. Great approach from a highly-successful agent – many jewels we can all learn from in this podcast.
Listen to today’s show and learn:
- How Jennifer started as an investor and later became a real estate agent [1:40]
- The number of houses that Jennifer and her team sold last year and average sales price [2:56]
- A tale of two markets in Raleigh, NC [3:12]
- Jennifer’s high profit margin last year [5:10]
- How Jennifer’s team achieves such high profit margins – her role and team structure [5:40]
- Achieving team retention and success by paying agents a salary instead of commission split[7:15]
- Breakdown of Jennifer’s listing sources [8:42]
- Jennifer’s Zillow lead gen. philosophy of combining reviews with paid ads [9:25]
- Why you should ask for photos with your reviews and using Yelp for leads [9:50]
- Where Jennifer’s buyers are coming from and tool she uses for buyer prospecting [13:16]
- Jennifer’s investment properties and her philosophy on investing [14:19]
- The tools that Jennifer and her team use to be virtual and paperless [16:48]
- One of Jennifer’s failures and lessons learned [18:52]
- The benefits that Jennifer sees with her unique team compensation structure [21:02]
- Roles, requirements and commission compensation for her buyer agents [25:34]
- The role of inside sales agents and the bonus structure that motivates them to get appointments [28:17]
- How to break through your goals.
- Plus so much more.
Jennifer might not be able to choose from her four favorite seasons (yes, ALL of them), but she knew exactly what she was doing when she chose a career in real estate. High school friends voted her most likely to be running her own business and she surely lived up to the expectation. Her first job was a gymnastics instructor before she headed to school at UNC Chapel Hill. After graduation she went to work as a commercial insurance broker before discovering that real estate was a career she could love forever. She founded Spencer Properties in 1997 and never looked back.
In a rare unplugged moment, you can find Jennifer perfecting her signature butternut & apple soup, planning a trip, reading or enjoying a glass of wine on the porch. She also enjoys yoga, biking and time with her husband, John, and four kids, Jack, Ellie, Luke & Abby, on some kind of adventure like zip lining, indoor sky diving, skiing or camping. She’ll confess to a Words With Friends addiction, but don’t send her a game request because she’s still on the wagon.
The most bizarre moment of Jennifer’s real estate career is when she walked into a house she’d just sold and found the breakfast room ceiling lying on the floor. And this was the second time the same thing had happened in one week! Yeah, you’ll have to ask her for the whole scoop on that one.
Related Links and Resources:
- Spencer Properties
- Spencer Properties Facebook
- Spencer Properties Twitter
- Jennifer’s LinkedIn
- Jennifer’s Zillow Page
- Spencer Properties Blog
- Jennifer Spencer | YouTube
- Spencer Properties | Investments
- ProQuest | Databases, EBooks and Technology for Research
- G Suite – Gmail, Drive, Docs and More
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