Essential Business Skills for Realtors | MASTROIANNI CONSULTING

While many Realtors reference their work in real estate as their ‘career’, they may be better served viewing it through the lens of a business, making them small business owners.

The distinction is small but important.  With a career, you climb the company ladder; you have a boss.  As a small business owner, you are the boss and there is no ladder.  There is, however, a very real opportunity to create a good business that produces a good income.

Small business owners need these essential skills:

  1. Financial Management.  Cash flow is king.  You need to understand what comes in and what goes out.  Create a budget and a business plan and stick to them.
  2. Marketing Expertise.  You need to build your brand to create a loyal following.
  3. The Ability to Sell.  Be committed to the many benefits of homeownership and your enthusiasm will catch on.
  4. A Bias Towards Execution.  Got a great idea?  Come up with some concrete steps to put it into action.
  5. Superior Customer Service.  Treat everyone, and I mean everyone, with the highest standard of customer service.  This includes: your clients, other Realtors, office staff, ancillary workers, title company, lenders, inspectors etc.  Everyone.
  6. Leadership.  Be proactive.  Inspire others.  Lead by example.  Always be learning.
  7. Time-Management.  Outsource or leverage tasks to create more time for you to be working on our business and not always in your business.
  8. Problem Solving.  Catch problems early and know who to turn to when they occur.
  9. Focus on the work.  It has to get done.
  10. Give Back.  Spare some time to work in your community or with a charity.

By focusing on developing these skills and having a business owner mindset, chances are you will be successful.  But be kind to yourself, as Quint Studer, a Florida based business consultant puts it, “No one is born a great business owner, knowing all there is to know.  Great business owners evolve.  They fail, they learn, they do better next time.  This is how growth happens.”

5 Ways to Build Stronger Customer Relationships | MASTROIANNI CONSULTING

For most of us, if you are in business, you are in the relationship business.  Good customer relationships are vital.  The more we learn about our customers, the better we are able to meet their needs.  This knowledge, when implemented, allows us to build loyalty and trust.  We hear it all of the time, “People do business with people they know, like and trust.”  The true benefit of good customer relationships is, once earned, they often generate repeat business and referrals.

In honor of National Get to Know Your Customers Day on Thursday, Jan. 18, we took a look at five simple ways you can get to know your customers better.

  1.  Ask for their input:  People will usually tell you what you want to know if you ask them.  You can do this in person, or you can conduct surveys to collect standardized responses. Your questions can range from simple requests for updated contact info to in-depth evaluations of their customer experience.
  2. Request reviews, then follow up:  Reviews help potential customers make informed decisions.  They also present an opportunity to strengthen relationships with your existing clients.  The key is to follow up on every review, both positive and negative.  Doing so, gives you the opportunity to reinforce the customer experience, identify clients who are likely to recommend you, and convert dissatisfied customers into happy customers.
  3. Make it about them:  Let your clients know they’re not just another number by setting aside time to check in periodically, either in person or with a phone call. Find out what they are up to.  If their goals have changed, ask if there’s an opportunity for you to help.  Then, use automated email marketing to supplement the time between conversations.
  4. Seek out data:  While you can learn a lot about your customers from one-on-one conversations, data can help you delve deeper to understand their preferences.  Use your own data (if you have it), or purchase aggregated data to uncover psychographic, behavioral, demographic, or geographic information.  Data will give you insight into the types of customers you should focus on, making it easier for you to convert more leads.
  5. Utilize a CRM:  The more you get to know your customers, the more you’ll need a centralized location to store the information.  Use a Customer Relationship Management (CRM) system to maintain individual customer profiles, track purchase and referral history, record communication preferences, and set follow-up reminders. For example, if your client just bought a house or had a baby, a CRM can remind you of these important life milestones, which is information you can use to have more personalized and productive conversations about your services.

These tips, when implemented, will assist you to build better, stronger and more successful relationships.

Source:  Adapted article Spark | Stifel Bank & Trust

Mastroianni Consulting can help you strengthen your customer relationships and close more business.   Team up with us and watch your real estate business grow!

17 Time Management Tips (Infographic) | Mastroianni Consulting

As there are only 168 hours in each week, managing what we do with our time is key to living a balanced and productive life.  Check out these 17 tips to manage your time and become more productive.

Realtors, Mastroianni Consulting is here to help you manage your 80% so that you can focus on your 20%.  Team up with us….

#2019TeamUpWithUs  #MastroianniConsultingIsHereToHelp

Other articles that may interest you:  Tips To Improve Your Productivity | MASTROIANNI CONSULTING
The Importance Of Professional Networking | Mastroianni Consulting
Highest and Best Use of Time | Mastroianni Consulting



Both St Louis Association of Realtors and Missouri Association of Realtors introduced updated real estate contracts effective 01/01/2018. The purpose for these changes is to keep pace with legal and technological requirements/advancements.

Taking a look at the changes for the St Louis forms:

Key Changes:

• The Listing Contract (LC), Residential Sales Contract (RSC) and Special Sales Contract (SSC) now have the following verbiage added: “The text of this form may not be altered in any manner without written acknowledgement of all parties.” This is to prevent ‘doctoring’ of the contracts with PDF Writers that can mimic the typeface and size and language. Any and all changes must be initialed by all parties.

• The Listing Contract also now includes verbiage addressing Foreign Investment (FIRPTA). The seller needs to declare he/she is not a foreign person.

• The Residential Sales Contract Paragraph 2 Inclusions and Exclusions has been updated to address fixtures removing the wording “such as flat screen tv’s” and replacing it with electronic equipment in the introduction of the section. There are also changes to the itemized items for the purpose of clarification.

• RSC & SSC Paragraph 3 includes clarification for Earnest Money. When completing the form, the agent needs to check a box that he/she physically has the check or it will be sent to the escrow agent.

• RSC & SSC Paragraph 4 Method of Finance now includes a dedicated section for Seller Paid Closing Costs. No need to use the Special Agreements any more.

• RSC & SSC Paragraph 5 Closing and Possession clarifies possession and the exchange of keys with a check box for closing or a time and date “but in no event prior to Closing as defined above…..”

• RSC Paragraph 7 is now a Franchise Disclosure.

• RSC Paragraph 9 & SSC Paragraph 8 Adjustments and Closing Costs now includes wire protection letter costs.

• RSC Paragraph 16 & SSC Paragraph 11 now called Miscellaneous Provision and combines the previous sections relating to Time is of the Essence, Binding Effect, Governing Law and Entire Agreement.

• RSC Paragraph 17 & SSC Paragraph 14 renamed Foreign Investment (FIRPTA). Seller confirms he/she is not a foreign person…

• RSC Paragraph 22 & SSC Paragraph 19 renamed Square Footage Disclosure. “Broker is not an expert….”

• RSC Paragraph 23 & SSC Paragraph 21 renamed Relationship & Communications Disclosures. Providing greater detail as to Licensee Personal Interest Disclosure.

• Both Residential and Special Sales Contracts now have a requirement for all parties to initial the bottom of each page with the exception of the respective last pages.

• For standardization purposes, the additional verbiage added to address Licensee Personal Interest Disclosure have been included in the Relationship Disclosure Addendums.

As a reminder, it is a violation of Missouri law to use forms for which the approval has been withdrawn. The association will not defend the use of withdrawn forms. Generally, E&O insurance policies require the use of approved forms.

If you have any questions, please do not hesitate to contact your Client Care Specialists with Mastroianni Consulting at
(636) 220-7830 or

Highest and Best Use of Time | Mastroianni Consulting

What’s Your Highest and Best Use of Time?

As a Realtor, you can get pulled in a million different directions.  People talk about time management and time blocking, but how can those skills assist you if you haven’t first identified what is the highest and best use of your time.

The key to being successful is being aware of (and focusing on) the skills that make the biggest impact on your bottom line.

If we narrow it down, a real estate agent’s highest and best use of time will likely revolve around dollar-producing activities:

*Going on listing appointments
*Going on showings
*Working your database to set appointments.

With every task that you are about to complete, ask yourself:  “Is this the highest and best use of my time?”  If the answer is yes, great. Keep going!  If the answer is no, the solution is to delegate.

In Tom Ferry’s words:  “Delegate. As. Much. As. Possible.”
“Outsource marketing.  Leverage technology.  Take advantage of services your brokerage offers.  Hire team members to do paperwork and other behind-the-scenes tasks.  Do whatever you can to ensure you’re spending the majority of your precious time on highest and best use of time activities.”

This is where Mastroianni Consulting can assist.  Our professional support services include:

*Contract to Close Management
*Listing Input, Support and Marketing
*Inspection Negotiations
*Broker & MREC Required Compliance

Our Client Care Specialists can be reached at:

(636) 220-7481 |

By focusing on your highest and best use of time and delegating where possible, your business will grow as you reap the rewards of your increased efficiency.

Source:  adapted from a Tom Ferry, Real Estate Coach post


MASTROIANNI CONSULTING is a unique consultancy firm specializing in the management of real estate transactions on behalf of Realtors and their clients.  We are not transaction coordinators, but transaction managers.  It is our goal to help others succeed in Real Estate by offering Transaction & Listing Coordination whilst providing an enhanced client experience to both Realtors and their clients.  Through Mastroianni Consulting, you will receive the professional care you need to grow your business without the overhead expense of an employee.

Our professional approach is the perfect platform to really make a difference to your business!  We close thousands of transactions every year and have vast experience navigating the pitfalls that can arise and sour your deal.  As an added bonus, we guarantee compliance with the standards of the Missouri Real Estate Commission, thereby protecting your license and that of your Broker.

Throughout every transaction you will feel the strength of our experience and value the quality of our work.  Put simply, we make you look good and that means more referrals and repeat business for you.  We offer Contract To Close Management and Listing Support. These services are incredibly valuable and help you, the Agent, free up your time to handle the most important 20% of your business…LEAD GENERATION.  Typically you will spend 19 hours conducting a smooth Contract to Close transaction. Let us take that 80% off your hands!  Just imagine what you could do with all that extra time!

We look forward to showing you that by leveraging your business and outsourcing these critical tasks you will achieve the success you have always dreamed of.

“Teamwork divides the tasks and doubles the success.”