real estate: Getting Your Brand to Work For You...
- 05/01/15 08:52 AM
Getting Your Brand to Work For You...
... Even When You Are Not There.
In my classes, when I am reviewing the importance of having a strong brand, I often have agents ask me what I think about their brand and request a critique. This is one of my favorite things to do because it not only allows me to see a lot of different types of brands, but I also get to help agents by providing an honest and unbiased opinion.
A brand is a visual expression of who you are, what you offer, and what your clients … (0 comments)
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real estate: The Elephant in the Room
- 04/24/15 04:53 AM
The Elephant in the Room
Have you ever been sitting with a client and your gut told you to ask something, but you just couldn't quite get the words out?
This often the case when you are afraid a question will make someone uncomfortable. However, those uncomfortable questions are critical to get at the heart of the matter. You can't start to solve a problem if you don't actually know the full scope of the situation. If you know something isn't right and you are afraid to address it, then it is the quintessential elephant in the room.
For … (14 comments)
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real estate: Credit is Tight!
- 04/17/15 05:51 AM
Credit is Tight!
Credit is tight, even for Former Federal Reserve Chairman Ben Bernanke!
Low interest rates should mean that opportunity is in abundance for the real estate industry. However, if you can't qualify for a mortgage, even the lowest rates don't help you if you want to finance or refinance your home.
This point became significant when the news was announced that even the former Federal Reserve Chairman, Ben Bernanke, was turned down when he went to refinance his home. Mr. Bernanke was at a conference and shared with moderator Mark Zandi of Moody's Analytics that he, "recently … (0 comments)
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real estate: Task Management: The Key to Getting It All Done
- 04/03/15 03:06 AM
Task Management: The Key to Getting It All Done
A real estate agent that I coach recently presented me with a beautiful weekly calendar with lead generation, client follow-up, and potential client follow-up neatly organized according to time blocks and color-coded. I complimented him on his diligence and use of color in a calendar format and then informed him that with his personality type and business, this type of planning was not in his best interest. Why?
It's not in the agent's best interest because this type of planning is time management. However, the best way to handle all … (2 comments)
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real estate: Low Inventory & What You Can Do About It
- 03/20/15 06:18 AM
Low Inventory & What You Can Do About It
It is no surprise to anyone that has been following the real estate industry over the past five years that we have arrived at a time of historically low inventory levels. When you take out all the short sales and foreclosures that used to make up a big part of the inventory and you sprinkle in a whole lot of eager buyers and you factor in the lack of new construction, you have the perfect storm for a low inventory market.
Real estate agents are experiencing multiple offers that they … (4 comments)
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real estate: Imperfect Homes in Otherwise Perfect Areas
- 02/27/15 03:14 AM
Imperfect Homes in Otherwise Perfect Areas
I cannot tell you the number of times I have worked with a buyer who had a, "discerning eye," or to put it more bluntly - who were "picky!"
Well, they should be picky! They are about to make what is likely their biggest investment to date. However, when "picky" gives way to "unrealistic" then it is time to have a difficult conversation and possibly introduce alternative options.
Throughout the country, we are experiencing inventory shortages which translate to lack of options for many buyers in competitive price points or areas. There are … (2 comments)
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real estate: Generational Housing Needs and Their Effect on the Market
- 02/17/15 05:15 AM
Generational Housing Needs and Their Effect on the Market
There are four distinct generations that are changing the types of homes in demand today. They include these generations:
The Silent Generation: born 1925-1945
Baby Boomers: born 1946-1964
Generation X: born 1965-1980
Generation Y: born 1981-2000
Each of the generations have very specific housing needs which require updated floor plans. This is creating both challenges and opportunities in the real estate industry. These new demands for specific space include more storage and work space, outdoor living spaces, and guest or extended family guest quarters (next generation living space). The demand for remodeling has … (2 comments)
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real estate: The Link Between Personal Space & Business Success
- 01/23/15 05:10 AM
The Link Between Personal Space & Business Success
Organization of any kind comes easy to some and not so easy to others. Most real estate agents are juggling many different clients at one time and find it hard to think about organizing anything other than their time to manage their clients.
But when you calculate the amount of time that is wasted or lost due to not only a disorganized office or inefficient filing system, but also possibly your closet or bathroom drawers, you might want to rethink how disorganization in both your personal space and office space can affect … (5 comments)
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real estate: Starting Over in Real Estate
- 01/16/15 05:19 AM
Starting Over in Real Estate
Many agents have told me that if they had only known how to do things a little differently when they first started in real estate, that it would have saved them a lot of time and money in their business. When the opportunity comes, some will seize that chance to implement those tools and systems they have always wanted. I have personally witnessed many these "start overs" by individual agents over the years. The impact of this type of business reboot can be huge.
A "start over" is when you decide to change the … (4 comments)
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real estate: The Best Way to Boost Your Credibility
- 12/19/14 06:44 AM
The Best Way to Boost Your Credibility
It was almost fourteen years ago to the day that I first discovered one of the most powerful marketing tools I've ever used in my marketing career. No matter what new company or real estate agent or business I find myself involved with, I try to convince them to use it - because it works.
What is it? Articles!
Writing articles - whether in the form of a mailed-out article to your database or for local newspapers, trade journals, websites, or magazines - adds to your credibility because of the implied third-party … (3 comments)
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real estate: 2015: The Year for Rules in Your Real Estate Business
- 12/12/14 02:47 AM
2015: The Year for Rules in Your Real Estate Business
While it is always a good idea to make goals for your business, usually there are - or should be - a set of rules to go along with that. For example, if your goal is to increase the number of referrals you had last year by 10%, you need to establish some rules around what you do for following up with your database in order to stay top of mind to those potential referrers.
But what about rules for your clients? Your rules should also include standards for … (0 comments)
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real estate: Six Tips for New Agents
- 11/14/14 02:53 AM
Six Tips for New Agents
Our industry has seen an influx of new agents over the last year. I was absolutely energized by the number of new agents who were at the National Association of REALTORS® Conference this last week. In fact, I had a few agents stop by our booth who had not yet even received their license yet! Those new agents we spoke with wanted to know what we would recommend for people who are just getting started in real estate.
My advice to them might surprise you.
I remember being a new agent. I remember my … (3 comments)
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real estate: Remodeling Hits an All-time High!
- 11/07/14 07:10 AM
Remodeling Hits an All-time High!
People ask me all the time about my personal formula for home remodels, but in my experience every project and every home is unique. I let each home visually tell me how it needs to be changed. For some remodels a complete new kitchen is in order, while other kitchens can be transformed with new countertops, backsplash, and cabinet re-facing. For some homes the outdoor landscaping is as important as the changes that will be made inside the house. It all depends on the home, the location and the market demand at that moment.
… (5 comments)
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real estate: QRM Mortgage Rule: What You Need to Know
- 10/31/14 04:04 AM
QRM Mortgage Rule: What You Need to Know
In 2010 the federal government enacted the banking reform bill developed to address the financial crisis and the number of homeowners who lost their homes due to too liberal lending practices. While additional regulations were needed, the result was that many of the resulting lending requirements were too strict and due to "risk retention" requirements that were not only expensive, but caused many would-be homeowners to not qualify for loans based on these new requirements.
The Federal Deposit Insurance Corporation (FDIC) is the first in a number of regulators to release … (0 comments)
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real estate: The Secrets to Targeting a Geographical Farm
- 10/27/14 02:53 AM
The Secrets to Targeting a Geographical Farm
Many agents who think about targeting a geographical farm choose that farm based on what they think will produce best results, but without verifying that research this may not actually be the case. Other agents like the idea of farming their own neighborhood because it is convenient and people may already know them from that farm area, but you still have to do the research required to verify that the farm you live in is a viable farm in terms of sales.
There are many parameters one should consider before selecting an … (2 comments)
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real estate: Don't Let Vertical Homes Shrink Your Buyer Pool
- 10/17/14 03:32 AM
Don't Let Vertical Homes Shrink Your Buyer Pool
During my Club Zebra call this week, I had a wonderful question from my client Laurie Way about how to market and sell unique properties. She mentioned that she often has multi-level properties listed, which are abundant in her Seattle real estate market. Her challenge is that open houses are not effective as the open house format because potential buyers are tiring from the number of stairs instead of focusing on the other great features of the property!
This question took me right back to my days of selling new construction, … (1 comments)
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real estate: The Lead Generation Triangle
- 10/14/14 05:42 AM
The Lead Generation Triangle
Whenever agents ask me what the best kind of lead generation method is I have to answer with the same two words every time, "It depends."
Great lead generation depends on so many factors and it has to match your personality, your skill level and your interest level. If you have no interest in sitting at open houses then you should not be doing that for your lead generation method. You won't be able to sustain them and your energy at the open house will be low. Buyers that come through the open house will … (2 comments)
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real estate: Your Niche Marketing Road Map
- 10/03/14 04:13 AM
Your Niche Marketing Road Map
If you enjoyed my Zebra Report last week on targeting a niche market, you are going to love this week's article on taking the steps to actually hone in on a niche market and determine a marketing plan to get your phone ringing!
If you are thinking that the idea of a niche market could be a good fit for you, we recommend you follow these four steps.
Look at Your Resources
Your resources are your area in terms of geography and people and your experience. For example, say you live in our area - … (33 comments)
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real estate: Use Your Life Resources to Develop a Strong Niche Market
- 09/26/14 07:06 AM
Use Your Life Resources to Develop a Strong Niche Market
Niche marketing is something that few agents choose to do. However, the ones who do it well will tell you that it was one of their smartest business decisions. Agents are leery to name and claim a niche because they worry that it will limit their business. But remember, specialists are in-demand and agents who specialize in and claim a niche market often do much better than generalist agents and the way to tackle this is to slowly build it into their business until the niche is strong enough … (0 comments)
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real estate: Helping Sellers Get Realistic About Price
- 09/19/14 04:24 AM
Helping Sellers Get Realistic About Price
Unrealistic sellers have been a big challenge for real estate agents for decades. It is common for sellers to have a different view of their home value than the market does. The difficulty comes when it is time to get the home listed and the seller believes that they are leaving money on the table if they listen to you and list their home at the price you recommend. Even though they did call for your expert opinion, many sellers discount your expertise when they don't like the price recommended.
Real estate is … (3 comments)
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