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Remember Single Tasking? Probably Not!
While doing my research for this article, I realized the mobile technology revolution has completely eliminated the single tasking we remember from many of our pre-Palm and pre-Blackberry days. I never want to go back to that time, but rather adjust our life--and more importantly--our brain. Before I get into single tasking, here are facts from people much smarter than me. (Don't believe me? Google it!) Multitasking decreases your productivity by 40%, lowers your IQ by 17% and shrinks your brain by reducing density in area that controls cognitive and emotional control.
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Finding Your Inner Entrepreneur and Launching Your Own Start-up
The real estate industry is filled with entrepreneurs – every individual agent is the CEO of their own business. With over two decades of experience as a broker, owner, operator and investor, Dave Garland, Managing Director at Second Century Ventures helps members of the real estate community turn their ideas into reality. Three years ago, Dave was tapped to oversee the National Association of Realtor’s venture capital division (Second Century Ventures) and NAR REach – a program that provides exposure and guidance to startups that are building technology for the real estate industry.
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What Real Estate Brokerages Need to Know about Gen Z
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3 Tips to Help Your Agents Work Effectively from Home
Modern technology makes it easier than ever for employees to work from home—and that's especially true for already-mobile workforces like real estate agents. For many, that's a good thing. It isn't exactly unheard of for agents to find themselves too busy to head into the office on a daily basis. And that's exactly why home offices have become so popular. Especially for newer agents, it can be hard to make the mental shift to working from home. So how can you help them become as productive as possible outside of an office environment? Here are a few tips to get them started.
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Lessons from the Navy Seals on Getting Teams to Hit Goals
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To Adopt or Not To Adopt
Agent adoption has always been a hot topic. As long as new technologies develop and emerge in the real estate space, there will always be an ongoing conversation on adoption. Typically, we hear a lot from the quantitative side of adoption. In the statistical data highlighting agent adoption numbers related to specific technology solutions and platforms, however, rarely do we hear about the qualitative data or the "why" pertaining to agent adoption. Technology solutions offered at a brokerage level to agents are intended to make agents more productive and make their life easier at the same time. So why is there often so much hesitation and resistance to embrace these solutions that have nothing but good intentions towards the agent and their business? Here are three primary reasons/barriers why agents don't adopt technology:
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Tips on Managing Real Estate Offices Remotely (From People Who Actually Do It)
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How to Create a Brokerage That Agents Will Want to Work At
To run a great brokerage, you have to have a team of agents who will be willing to work hard and get the job done. However, there are some things that you as a broker could do to create a strong brokerage for your agents. That is what Brian Copeland did in order to create a perfect workspace for his team. As the Vice President for Association Affairs for the National Association of REALTORS and founder of Doorbell Real Estate in Nashville, Tennessee, Copeland has quite an arsenal of real estate knowledge. He recently shared how to lead a brokerage that real estate agents want to work at.
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Building a Gratitude Brokerage Culture
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Solving the Mysteries of Jet Lag
For years, I have strenuously maintained that when I fly west, especially to Hawaii from the West Coast, I never have been jet lagged. But when I fly to Europe from Seattle, if I don't follow all the jet lag management tactics I've learned over the years, I'll pay the price. Many fellow business and active leisure travelers told me I was nuts. It turns out, according to sleep medicine physician Dr. Susan Rausch of Seattle's highly-acclaimed Sleep Disorders Center at Virginia Mason, I was right all along. Our bodies are physiologically wired to "Go west."
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4 Steps for Easier Agent Adoption
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3 Key Strategies for Being a Better Leader in Real Estate
If there's one thing Doug Edrington knows, it's how to lead a team. Doug recently opened his own Berkshire Hathaway HomeServices Brokerage, J Douglas Properties, and runs (with no shortage of success) The Edrington Team. Last year, his team sold 491 houses. And when he's not busy being a top producer, he is also a Tom Ferry Coach. Doug recently shared some of his recent experiences and expertise when it comes to building a sustainable business and being an effective leader. Here are the top takeaways:
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Increase Agent Adoption Rates by Following These 3 Steps
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Your Listing May Be Haunted If...
Do your sellers seem a little too eager to move out? Are buyers hesitant to hang around? If so, you may be dealing with a haunted house. Here are some tell-tale signs that your listing may be haunted.
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Are You Holding Your Organization Back?
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6 Secrets to Building and Scaling Company Culture
What are your secrets to building and scaling your company culture? The success of companies like Starbucks, Zappos, and Disney in building inspiring and coveted company culture has opened the eyes of the real estate industry. More and more real estate companies are focusing on company culture to not only attract and recruit the right REALTORS®, but to enhance the customer experience. I asked a few industry leaders how they are building and scaling culture at their companies, and here are their insightful tips.
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What Real Estate Brokerages Can Learn from Spider-Man
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Why You Need an Open-Door Policy Right Now
In their latest round of funding, OpenDoor scored $325 million in funding. Late last year, SoftBank invested $450 million into Compass. VC money is alive and well, and it's found a home in real estate tech, pouring into the industry. And as we all saw at Inman Connect this month, the competition is as hot as five-star Thai food. It literally hurts to digest.
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Why Brokers Should Plan a Summer Retreat for Their Team
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Learn from the Beatles: A Guide for New Brokerages
Cue the music. Ladies and gentleman, the Beatles! Starting a successful real estate brokerage isn't easy. Neither is finding success in the music industry. For over two and a half years, the Beatles performed grinding eight-hour sets in Hamburg, Germany. So how did a group of boys playing long hours in the clubs of northern Germany become one of the greatest bands of all time? I'm going to be bold and say it: The Beatles were some of the greatest entrepreneurs of all time. So what can aspiring and new broker/owners learn from the Beatles?
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Retention: How to Keep Your Agents Happy
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Timing of Your Client's Home Sale Means More Money
In today's dog-eat-dog world of real estate sales, where supply is low and housing prices rapidly rising, seller's remorse is a common issue. If Steve or Sally Seller is driving themselves insane over timing issues, wondering if their home will be 'worth' more if they simply wait to sell, it's time to get down to brass tacks. You Can't Perfectly Time a Home Sale
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Did You Know These Seven Potential Deal Killers for Buyers?
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Why Millennials Matter
Millennials, also referred to as Generation Y, are the generational demographic following Generation X and the biggest generation in U.S. history. They are the generation raised on technology, they have an unprecedented appreciation for avocados on toast, and are they are on the receiving end of countless stereotypes (like the aforementioned). Today, most demographers agree that millennials are aged between 22-37 (born 1981-1996). In the real estate industry, the most important thing to know about Millennials isn't their preferred toast accompaniment, though. At this year's Xplode Conference, Matthew Josefs, the Senior Trade Show Consultant for TORCHx by Web.com, pointed out that although Millennials currently make up 34 percent of homebuyers, they are particularly difficult to convert into clients. Here's a recap of what Matthew had to say about why that is and what you can do to remedy it:
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6 Guidelines for Effective Delegation
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How to Get Busy During the Holidays to Stay Busy in January
Trying to stay warm this winter? Get busy with real estate selling prep. Really! Though the reputation for winter as a dead season abounds, there are tons of things you can accomplish in the winter that will allow you to make better use of your time post-tax season and when the summer rush hits. Ditch spring cleaning for the snowier variety! Rather than waiting for warmer, busier seasons, take advantage of this time to:
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The Benefits of Charity: Why Independent Brokerages Should Partner with Nonprofits
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What Compass Is Planning in Your Market
Chatbots and new tech are barreling towards the industry. Everything is moving to a cloud environment. And now, Compass is coming for your market share. The CEO of Compass, Robert Reffkin, recently announced a 2020 by 2020 plan for the company. What does that mean, you ask? A plan to expand into 10 new markets in the U.S. by 2020, and to grab 20 percent of the market share in the 20 largest U.S. cities. Casual, right? The cities they're expanding to are: Seattle, San Diego, Phoenix, Dallas, Austin, Houston, Atlanta, Charlotte, Philadelphia, and Chicago.
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Stop Struggling to Create Content: 5 Steps to Simply Get It Done
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The Growth of Real Estate Teams: Achieving Work-Life Balance and Success
Dedication. Customer-focused. Neighborhood expert. Master negotiator. Just a few things that come to a consumer's mind when thinking of real estate professionals. But what about everything behind the scenes that they don't see? The lead management, never ending admin duties, and the need to be everything and everywhere for the business. With days that start at 6 am and sometimes never end, work-life balance is often a distant dream. So how do you commit to exceeding your yearly transaction goals without sacrificing your personal life? You can reduce your level of commitment or you can get help. For real estate pros with high ambitions, one solution may be to form a team.
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How to Compete as Redfin Lowers Their Listing Fees
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5 Tips on How to Get Your Agents to Adopt New Technology
It's not easy switching to a new technology. It can be kind of scary to change the way we do things. But who doesn't like getting better, faster, and stronger? Even though change can be difficult, it's also extremely beneficial. Here are five things you can do to help your team embrace change and adopt new technology.
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3 Do's and Don'ts in Choosing a Technology Partner for Your Brokerage
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What Experts Want You to Know About Drone Usage in the Real Estate Industry
At the the REALTORS® Legislative Meetings & Trade Expoin May, industry experts joined forces to share knowledge about safely aligning drone technology with video use in real estate marketing. Who's Got the Bird's Eye View? Jim Williams, manager of the FAA's Unmanned Aerial Systems Integration Office; Doug Trudeau, associate broker at Tierra Antigua Realty in Tucson and the first Realtor to apply for and receive a waiver for drone use (before drone flight certification was redesigned to omit manned flight licensing requirements); and associate counsel for the NAR, Lesley Walker. What Guidance Did These Industry Experts Have to Offer on Drone Tech?
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5 Keys to a Worry-Free Vacation
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[Infographic] 10 Hidden Expenses When Purchasing a Home
Owning a home is the great American dream! When it comes to buying a home, most of your clients naturally begin by combing through thousands of online listings, oohing and aahing as they find homes they. While the process varies from client to client, that first-time home buying feeling only happens once. And when it comes to that group, here are the facts: First-time buyers account for 52 percent of future buying potential Despite being plagued by student loan debt and in a different headspace than previous generations, Millennials are ready to buy with the majority of current first-time home buyers being in this generation Older Millennials (25-34) dominate current home shoppers, making up 33 percent of the market
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Can You Sell More with Fewer Adjectives?
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5 Brokerage Management Tips to Drive Efficiency and Engagement
Real estate is a challenging and demanding field that requires efficiency, organizational skills, and the ability to connect with people on a personal level. Due to the competitive and challenging nature of the field, real estate brokers are expected be at peak performance at all times to ensure that every meeting and transaction runs as smoothly as possible. Creating this type of work ethic starts at the top. Managers and team leaders are expected to lead by example and let their actions demonstrate how the office should be run. Here are five management tips that will help you build a top-performing team.
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5 Technical Benefits to Upstream
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It's time to start paying attention to Millennials.
While Millennials generally have a reputation of struggling in a tough job market and residing in their parents' basements, they are starting to become a force in real estate. According to a recent National Association of REALTORS® study, Millennials are now the largest share of homebuyers in the country at 34 percent. The tide seems to be shifting as this massive population segment starts to enter the real estate market. They don't represent a ton of commission for real estate agents at this point, with 66 percent being first-time home buyers and most being quite price conscious, but the sheer numbers of this group creates a trend that must be noted by real estate professionals.
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5 Tips on How to Get Organized and Streamline Your Brokerage
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Top 5 Ways to Transform Your Office Managers into Sales Success Coaches
None of the brokers we’ve worked with believe that their office managers are doing what they are supposed to be doing — sales training. Instead, they act more like den mothers. When they could be working on sales coaching or recruiting, office managers are consoling agents who lost big deals, troubleshooting broken printers, or retrieving lost MLS passwords. It’s too easy for office managers to spend the day putting out a series of small fires. Its easy to use all of those daily tasks as excuses for not focusing on the most important roles that managers are responsible for. The path toward a more profitable office
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3 Ways Real Estate Brokers Can Find Work and Life Balance
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Top Business Advice from a Social Media Giant
Innovation is more important than ever in a technology-driven market. Evan Speigel, the co-founder of Snapchat, talks about how he thinks about business in the modern area and targets a specific audience. Check out the 1:59 market for some crucial business advice.
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10 Time Management Tips From The Experts
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Don't Make These Mistakes in Your Real Estate Videos
Video usage in real estate marketing can lead to some pretty... err... interesting results. And these may or may not be so good for your professional image. Are you making these common real estate video blunders? Overlooking photography. Rather than making potential buyers seasick with live in-motion video, still photography offers crisper imagery at a much higher resolution, allowing for the creation of movement and space via panning around the image or sliding closer and farther away. Sometimes dubbed the 'Ken Burns effect,' this method actually works far better than actual video footage, and makes the transition to video marketing a breeze. Being too obtuse. While you don't want your real estate videos to be overly long, breezing through a home and marginalizing essential details can cost you. While big, wide angle shots give a great impression of space, detailed shots are essential to highlight each home's unique features. Is that crown molding or banister original to that turn-of-the-century home? Did you simply snap a quick shot of a kitchen filled with a stunning backsplash or industrial-grade appliances? Did you overlook an award-winning koi pond in your attempt to showcase the expanse of an outdoor space? Up-close shots of these unique features are key for giving buyers a comprehensive feel of a home – and reeling in fast sales for those who fall in love with them.
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Growth Hack Your Real Estate Teams
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7 Habits of Highly Effective Brokerages
Today's economy is fast paced and highly competitive. To stay on top, many brokerages need to adopt measures that will make them highly efficient and effective. Chances are that you are familiar with Stephen Covey's The 7 Habits of Highly Effective People. Published in 1989, it has sold more than 25 million copies in 40 languages worldwide and remains one of the best selling nonfiction business books of all time. While Covey's book speaks about the habits of individuals, many of the practices he outlines can be adapted to your brokerage. Every brokerage has a style of doing business; everyone is different and you have to find what works for you. But to be successful, it's going to take a strong set of positive habits to get you where you need to go. HABIT #1: Be Proactive Top brokerages know that to grow and attract a high amount of activity, they must invest in their own business. Capitalize on the key marketing activities that are most likely to get you in front of the right clients frequently and consistently. Following this, make sure to track your investments. The more you spend, the more you should focus on measurable results. Monitor phone numbers, measure leads to closed sales, and ask about all sources used to search for homes. HABIT #2: Set Goals Envision what you want so you can work and plan towards it. Define the goals you have for your brokerage and break them into measurable chunks such as quarterly, monthly or even weekly time periods. Work with your team and encourage them to set and track their individual goals, as well. See how you can tie their individual performance into achieving company goals. Making business planning a daily activity allows you to track and adjust progress as needed.
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Things Every Broker Can Learn from Elon Musk
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Engaging Millennial Homebuyers
It's a sad but true fact that there's a generational wealth gap in this country. Because of this, we see fewer millennials in the home buying market than we'd hoped for. "The absence of millennial homebuyers is a big story for the economy, because housing sales and construction are big drivers of jobs," claims Jeff Reeves in USA TODAY. "But it's also an equally big story for the personal finances of millennials, who are missing out on the real estate wealth that bolstered the balance sheets of previous generations," he concludes. Homebuying statistics bear this out, finding that millennials make up only 35 percent of buyers, which is down from 40 percent in the mid-2000s. So, how do you reach this reluctant and somewhat broke generation? And why should you want to? It's about the funnel Connecting with someone who represents future business is something many real estate professioanals feel is a waste of time. It's critical, however, if you hope to remain in business. The sales funnel even includes a spot just for these prospects – right there at the top. And, with millennials, who are merely deferring and not postponing homeownership indefinitely, there's a huge pool of potential first-time buyers with which to stuff the funnel.
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Larry King's Advice on How to Become an Industry Leader
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5 Tips to Make Networking Easier
Many people visit networking events with the wrong idea. It's about much more than just handing out business cards. YouTube coach AdviceFromJustin has broken down five networking tips that will help you build strong relationships. The third tip should be a big help.
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How to Manage the Slow Season
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How to Find a Business Mentor
Business is full of ups and downs. Navigating them is easier with the help of an experienced mentor. Learn how to find a business mentor to help your venture—and your confidence—soar to new heights. Why You Need a Business Mentor Many business owners forgo mentorship due to pride or the fear of asking for help. This may stem from the false notion that capable business leaders don't rely on others. In truth, even prominent entrepreneurs like Richard Branson, Warren Buffet and Bill Gates had mentors who instilled in them the confidence and know-how to succeed. You don't have to be running a Fortune 10 business to get a mentor. If you run a small business, a mentor can assist you in: Brainstorming ideas for a new venture Researching ways to launch or finance the venture Expanding your business staff Streamlining your operations Gaining a renewed sense of motivation or inspiration Making a critical decision like whether to sell your business. Basically, your business mentor can help in a variety of ways. Ideally, this is someone's who's been through the ringer before. A mentor can offer tips to help you avoid unnecessary mistakes.
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5 Behaviors that Develop Culture in Your Brokerage
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Time for Brokers to Clean Up Online Profiles
Online real estate agent and brokerage profiles are a mess. Specifically, agent and broker profiles on broker websites, Zillow, Realtor.com, and Homes.com are naturally in disarray at this time of year. With transaction volume low during December, it is a very good time to clean everything up. Most brokerages audited by WAV Group consulting average 10 percent inaccuracy, which reduces lead generation and undermines a firm's online reputation. Start With Data Collection It is a relatively easy task to collect the data necessary to update profiles. Start with your offices. "Offices have identities," says Marilyn Wilson, partner with WAV Group. "When we audit brokerage firms, we find that companies who have moved offices rarely put forth the effort to remove the old offices from association databases, MLS databases, brokerage websites, and syndication websites." There are services that can do this for you. WAV Group has resources that can automate the process on major search sites like Yelp, Google, and others. But the syndication sites require more effort, typically requiring the broker to log into the publisher site to make corrections. Agent profiles are the heavy lifting. It is vital that you collect the profile image of all of your agents, detail their contact information, and help them curate a reasonable bio of at least 250 words. Here is a quick guide for 5 Best Tips to Create a Powerful Bio (Sherry McCormick).
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5 Amazing Proverbs on Business Insight
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4 Characteristics of a Good Leader
As a broker/owner, you may live and breathe the business, but agents are your foundation. All agents, new or experienced, invariably need some amount of training or mentorship, and they look to you for guidance. To run provide this mentorship, you need to be a good leader and not just a good boss. Here are four distinct characteristics of a good leader: 1. Show how it's done When an agent starts with you, make that initial connection. No matter how many years of experience the agent has, talk with them and help them understand how YOU run your brokerage. It can be the processes or the order your administrator would like the see the paperwork or the company standards you expect them to embody on a daily basis. Whatever it is, make a checklist and give it to them. Information in any form is always appreciated. 2. Ask ask ask It's okay to ask how they are doing. Not just professionally; personally, too. It's perfectly fine to ask them if they are facing any challenges on a day to day basis. Sometimes they just might want to talk it out and you might have a solution up your sleeve. Be the person they turn to for guidance.
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5 Small Business Organizations You Should Know
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Steve Jobs’ Advice on Building Your Brand
Great branding is a key component to anyone's marketing strategy, but separating your brand from the pack takes some serious skill. Apple creator Steve Jobs had one of the most recognizable and successful brands of all time, so when he gives his advice on branding, it's a good idea to listen. Check out the 2:00 mark to hear his expert advice.
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What's in a Number? Get More Sales with Number Psychology
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To Disclose or Not to Disclose – Weird Situations that May Need Your Intervention
Itching to close the sale, but aware of a few issues pertaining to the property in question that have you scratching your head about what you're really required to disclose? Disclosure laws vary not only by state, but involve a great deal of grey area. Here are the real estate selling tips you need to know to protect yourself against later legal action. To disclose or not to disclose – Do you need to come clean? Deaths within the homeMost states have laws on the books pertaining to the disclosure of deaths in/on the property – with some even requiring you to disclose the how of the death. California has a law referred to as how the property may be "psychologically affected." For instance, deaths occurring within a period of three years must be disclosed, as well as the circumstances (ie: if they were violent) – or you could end up on the hook for some serious damages. Meth labsSome states requires the seller to disclose if a home was previously the site of an illegal meth lab – while others do not. The sticky wicket? You're not required to disclose information you don't know. So if you don't go digging into a home's history, you could be in the clear, whereas playing P.I. could land you in hot water if you uncover something ungainly. Be certain to make yourself aware of what's required in your state.
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The Best Real Estate Tech Tips at Record Speed! PART 2 (8/25)
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Tips for Selling that Hot Property with the Sellers' Kids Out of School
Getting a house ready for showings involves educating your sellers on the ins and outs of staging a home, but what happens when the seller's children are home from school for the summer? You want the property to appeal to the widest variety of buyers, including buyers with children and ones without children. Use our following real estate selling tips to ensure the home is portrayed in the best possible light. Declutter Buyers prefer to see a house with the bare necessities in order to be able to picture their own belongings in it. The less clutter on countertops and in rooms, the better. Neutral, Neutral, Neutral The sellers may think their kid's pink and purple paint job is adorable, but chances are a potential buyer will just see more work for them. Sellers should paint any room with a neutral color before listing. Depersonalization Your sellers will be best advised to remove as many personal effects as possible from walls, including family photos and children's drawings. Have sellers fill in the holes with putty and paint.
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4 Elements of More Productive Office Meetings [INFOGRAPHIC]
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4 Steps to Gaining Referrals, Even When You're Sleeping
While you're busy with your routine, forces are at work that will ultimately bring a new client to your inbox. We're talking about your satisfied past customers and partners, who may be providing you with a referral as we speak. Given that over 40% of all real estate sales come from referrals, this is a critical point. Referrals are gold for real estate pros, and they come your way when you've provided great service, certainly. More than that, though, you have to have a "sticky" relationship. Your name needs to stay in their mind long after the transaction has closed and your immediate association is over. So while referrals come from others, they're not completely out of your control. Ask for referrals, don't just wish for them. Getting consistent referrals requires sustaining your existing relationships for the long term. A few best practices can go a long way toward keeping those referrals popping up to make your day. #1: Be supportive when it matters The Washington Post reported that one in four buyers in a variety of settings experience some level of buyer's remorse. It's important for agents to keep this in mind, and be aware that asking for a referral at this point would be a mistake. Instead, this is when customer service should shine. If your client is feeling anxious, do your best to ensure that they are 100% satisfied, and all of their questions are answered. They'll remember that you came through even after the transaction.
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Customers Don't Give a [email protected]&# About Data
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How to Network Without Going to Networking Events
We've all been to them or we've at least been invited to them—a mixer or industry networking event held at a local bar or restaurant, or worse, a conference center. What is it about these events that make our skin crawl or that sends introverts running back to their cubicles, wishing they were never invited? It feels like no matter what business you're in, it's all about who you know in order to make moves or move up in your career. While we don't necessarily subscribe to that rule, we do believe in the power of a good network and the importance of building relationships with your network and contacts. So, is there a way that you can make those crucial connections with other industry professionals without having to step foot in a crowded bar with a 'Hello, my name is...' sticker on your shirt? We'd argue that yes, you absolutely can network without attending one of those cringe-y events. But first? You'll need to learn to love, or at least appreciate, why networking is an important aspect of your career and even your personal life. Why people hate going to networking events You've heard it before, networking is necessary to get ahead in your career. But is going to a networking event or a meet-up necessary to get ahead in your career? For those who may hate the idea, or shy folks who aren't comfortable walking into a room of strangers, these networking events may feel more like a necessary evil. Why is it that so many of us dislike the idea of heading to a networking event?
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Tips for Responding to Counteroffers Over the Asking Price
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5 Things You Should Do Before Leaving the House Every Morning
Do you spend your mornings battling the alarm clock, struggling to get the kids to school, and rummaging through the closet for something to wear? You're not alone. Many of us are not necessarily "morning people." But how a Realtor starts the morning sets the tone for the rest of the day. You can feel better about your day when you start it out right. Complete them before you leave the house in the morning and set yourself up for success with these five simple tasks: Make your bed. It's surprising that something so simple can make such a big impact on your day. Research by Charles Duhigg in his book "The Power of Habit" found that making your bed each morning is correlated with better productivity. It's also been suggested that making your bed boosts happiness! The idea is that completing this small task makes a person feel more productive first thing in the morning. According to Duhigg, by creating this habit, you'll help your other positive habits to flourish. He argues that making your bed is essentially a catalyst for other good habits. Take some deep breaths. Does the idea of meditating sound a little too airy-fairy to you? That's ok, you don't have to spend an hour sitting cross-legged each morning. Morning is often the most stressful time of day for people. Clear your head with a few deep breaths and a few moments of silence before diving into your day. You'll benefit from even 4-5 minutes of this practice in the morning!
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4 Business Tips to Learn from Game of Thrones Season 6
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Tips for Dealing with AWOL Buyers' Agents
Most agents have been there: Multiple offers on a home priced for competition. To earn your sellers the best possible price and ensure all interested parties get a fair shot at the property, you reach out to each buyer's agent only to find out one (or more) of them has disappeared from the face of the earth. What's an agent to do? Real estate agent selling tips point to maintaining the REALTOR® Code of Ethics in not stepping over the line as a dual agent... could there be a way to handle the situation fairly and ethically? Working within the code Even buyers who have submitted significantly lower offers than other parties may want another shot. Should you sidestep the buyer's agent entirely? No, but that doesn't mean you have to throw in the towel. If you have contact information for the interested party whose agent has temporarily vanished, try these real estate agent selling tips: Proceed with caution.The Code of Ethics generally cautions against interference with fellow Realtors. Confirm or denyIf you cannot reach the buyer's agent and time is of the essence, contact the potential buyer with Article 16 in mind, asking the client to confirm or deny whether or not they have signed an exclusive agreement with that agent. If the potential buyer says 'yes,' it is unethical to push further.
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How to Thrive in a Boom and Survive in a Bust (6/23)
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6 Tips to Increase Agent Adoption of Your Brokerage Technology
Adopting a new technology can be a challenge for anyone. If you're used to doing tasks a certain way, it's difficult to change that. But, as we all know, the only thing constant is in this world is CHANGE!  Small things can go a long way when it comes to improving agent adoption! Here are six easy ways to help your agents adopt your brokerage's technology: 1. Begin with the Hiring Hire agents who can manage to learn and master simple tools. Let them know the importance of using these tools to maintain transparency between agents and your brokerage. It is important they come prepared. 2. Start Early When training new hires, make technology part of the training. If people start using it right off the bat, they're more likely to continue. Provide resources they can go back to and refer. Invest time and effort in your agents for a successful partnership.
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Sales Awards: Are They Building or Hindering Your Brokerage?
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Don't Make The Biggest PR Mistake
The number one mistake I've most often encountered through the many years I've spent working in communications and public relations is an executive who calls back a reporter and tries to "wing it." While I've been fortunate enough to work with several exceptionally media savvy CEOs throughout the years, they were the ones that never called back a reporter without being prepared. Russell Wilson, the NFL quarterback for the Seahawks, delivers the best practice for CEOs when it comes to calling back a reporter: "The separation is in the preparation." CEOs that provide the best interviews for reporters are able to do so because they are prepared. Here's how to avoid the biggest PR mistake: Develop your messages: The most critical step in preparing for an interview is developing your messages. You need to be prepared before you begin the interview by knowing what you must get across to the audience. Answer this question: What's the story you are trying to tell? Three is the magic number: For every interview, prepare three main points that you want to be sure to get across. These are your core messages. Write them down and have them in front of you. For video recorded interviews, where you can't use notes, you must commit them to memory.
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Protect Your Listings and Sellers: How to Deal with Squatters
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A Proven Guide to Help Introverts Get Remarkable Results
Do you feel like you are too shy to be in the real estate business? You are not alone! Watch as Jane Wenden outlines her experience as an introvert trying to prospect clients and break into the industry. Wait for the 4:48 minute mark to find out at what point she gained her confidence!
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Five Tips from Top Real Estate Producers that You Can Use this Week
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Blow Away Your Broker Profit Goals
MLS data can make a lot of the systems in a brokerage work more smoothly and can create new ways to serve the needs of your clients while helping your brokerage be more competitive. I have been working a lot recently with brokers who are finding new ways to provide better service to their agents, sellers and home buyers by integrating their systems with MLS data in new and meaningful ways. Here are five benefits of integrating your systems with MLS data and how they can help your business be more profitable. 1. More Traffic to Your Website Today, every MLS is REQUIRED to offer you SOLDs in your IDX feed if you so choose. Why can SOLDs be a benefit? First, they can make your site more competitive with the depth of content offered on third party sites. Second, it can give consumers a reason to engage earlier on your site while they're in the early research phases of their search. It can also help engage potential sellers looking to see how much their home is worth in today's market. 2. Improve Professionalism Today, many of the online transaction management companies out there like DocuSign, Form Simplicity, zipLogix and others have easy ways to populate forms with live MLS data. The data then passes through to all of the documents that will be used in the transaction, eliminating the need for redundant data entry which inevitably leads to mistakes. A lack of attention to detail is one of the things that consumers complain about most. This is a great way to eliminate that problem.
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How to Make Your Real Estate Thank You Gift Memorable
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Numbers Aren’t the Only Factor Affecting Your Bottom Line
We are nearing the halfway mark in 2016 and the REAL Trends 500 rankings have just been released, presenting an ideal opportunity to review your business successes and celebrate your achievements. As with the REAL Trends rankings, the success of a brokerage is often measured by the numbers. How you manage the numbers in your business from your accounting to your back office management plays a vital role in a brokerage's longevity and its bottom line. A solid infrastructure built on processes, technology and resources, provides the foundation for profitability. Once you have a solid infrastructure in place, then you can take care of how you're going to grow your business – your agents. A key factor to the success of your agents is their ability to build and nurture relationships. According to the National Association of REALTORS 2015 Member Profile, 20 percent of all business resulted from referrals. And in the 2015 Profile of Home Buyers and Sellers, 88 percent of respondents said they would use their agent again or refer them. Missing out on referrals can be detrimental to your business's bottom line. You might be thinking the relationships your agents have with clients are their own, but those relationships are with your business and your brand, too. As a broker, you can support your agents through the technology you've implemented in the infrastructure of your business. Helping your agents improve their connections with clients, communicate more effectively and consistently market themselves with tools and resources you provide will nurture those client relationships. A positive agent relationship and real estate experience will keep clients coming back when they're ready to make their next move. Here are three concepts your agents can master when building relationships with clients.
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The Little-Known Secret to Time Management
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Help Divorcing Sellers Understand Their Options
No matter how amicable the divorce, the reality of dividing and liquidating assets – especially large ones like homes – is never easy. Help your clients in this trying time, with real estate selling tips that help them better understand their options. Typical options for divorcing sellers include: Sell and share - Selling the home and sharing the proceeds often offers an agreeable solution, provided the agent involved is in-the-know, not just on the real value of the home, but the goals of the clients (e.g., out fast at a lesser price, or willing to wait for true market). Spouse buyout - If one spouse wants to remain in the home, a common solution is for the remaining spouse to refinance the home to pay off the current mortgage, giving the spouse an agreed upon amount. Spouse stays to raise kids until predetermined date - Letting one spouse to remain until the kids complete high school may work for some. However, capital gains tax issues can make this situation tricky and tough on the departing spouse. Consult the divorce attorney about the possibility of a clause in the divorce agreement for the vacating spouse to keep the home as a "primary residence for tax purposes."
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Top Tips from the Movers and Shakers in Real Estate
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Be Uncomfortable
It is pretty well known that Google is now Alphabet – a reimagined company that is comprised of a variety of businesses around the focus of organizing the world's information to make it universally accessible and useful. Building a new brand on top of Google was an uncomfortable decision, but there is much to be learned from it. The Alphabet Companies (full list here) are: Google – Search engine, Android, Gmail, and YouTube Calico – Healthcare company aimed at extending life Verily – Smart contact lenses X Labs – Research and Development Deep Mind – Artificial Intelligence Access – High-speed internet Jigsaw – Think tank/tech incubator The company really did not change its structure, but the company did restate its structure differently and explained it. The uncomfortable reimagination worked on Wall Street – as the company overtook Apple as the world's most valuable company (albeit temporarily, as today Google is worth $598.73 billion and Apple is worth $651.5 billion – what's a $50B swing one way or another?). Real estate could learn quite a bit from this. At the heart of Google is the vision to never become complacent. Great companies operate uncomfortably. Great companies take moon shots.
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3 Easy Steps to a Great Attitude
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5 Tips to Increase Your Brand Exposure Through Corporate Social Responsibility
Are you looking to grow your brand and business presence in your local community? First things first, take a look at how your business is giving back to the community. Your company’s corporate social responsibility (CSR) is exactly that, a responsibility of your business to the community you serve. CSR is a growing trend many businesses are taking much more seriously in an effort to give back to their community. Corporate social responsibility is defined as the voluntary activities undertaken by a company to operate in an economic, social and environmentally sustainable manner.
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Simple Solutions for Growing Your Real Estate Team
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Surviving the Winter Market Slump
It is not easy to carry momentum through the winter market slump in real estate. Unless your brokerage benefits from the winter home market, your business is likely in its midwinter slumber. Taking a different approach to your goals is the best way to make the best of things. Recognize that the business year is a long season, but timing is everything. If you break the year up into its component parts, you will recognize that there are natural cycles. By looking at website traffic, sign call volume, lead volume, and transaction volume, you will see that everything is in sync, like the tide that ebbs and flows. When the tide is out, focus those goals that prepare the business to operate more efficiently when the tide is in. Here are some suggestions to tidy up your digital life to prepare for the busy spring selling season ahead: 1. Drip Marketing and Auto-Responders – Test your drip marketing and lead management solutions. Pretend that you are a consumer. Evaluate the consumer experience interacting with your technology solutions, paying close attention to the graphics and text. Your goal is to align your online communications with your offline communications so they have a single voice. 2. Documents, Forms, and Transaction Management – Make sure that your agents have easy access to the materials that they need. Although it is painful, you need to review every document that they are using. Aside from making sure that they are current, make sure that the branding is correct, brokerage contact information and URL are in the footer, etc. 3. Google Everything – Using search engines like Google and Bing, search for your keyword phrases like your company name, your offices, your top agents, your listings. Make sure that you are showing up correctly for customers looking for you. The most significant volume of search traffic to broker sites are based off of those keywords.
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Sell a Home in Less than a Week
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Graceful Vendor Termination
System conversions are very difficult in real estate. If there is one eternal truth it's that agents will absolutely resist change no matter what. Even with MLS system conversions where the death of the application–vital to their business–is imminent, they hang on during the parallel period until the very end. Then there is a flood of complaints about failure to notify them or train them. It’s a way of life that extends beyond the MLS system to the brokerage system. More and more, brokers are providing end-to-end business systems to their agents. Over years, the company trains and supports the program. It becomes part of the culture of a company. Then one day, usually for sound business reasons, the broker decides to change vendors. Chaos ensues. Change is a recruiting opportunity When you see a competitor changing vendors, it is a great time to target your recruiting. License the system that your competitive broker is dumping and offer it for agents who want to come over and bring their system with them. The recruits can wear the old shoes of their last firm for as long as they like.
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Top 8 Secrets to a Great Business Presentation
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4 Steps to Build New Habits and Hit Your Goals
We’re now a solid month into 2016. A new year, and conceivably your fresh start, right? If you’re among the masses, you most likely made a lofty New Year’s Resolution when the clock struck midnight because this was the year you would hit those goals and actually hold yourself accountable to them. Wouldn’t that be nice. 45% of Americans make a New Year’s Resolution each year, and only 8% of them are actually successful in achieving those resolutions. The odds are not in your favor here, unless you have steel willpower, or an incredibly simple resolution. But what’s the fun in a simple resolution that won’t challenge you? Before you lose all hope of attaining your resolution, we’re sharing some of our tips and tricks on building powerful (and healthy) habits and hold yourself accountable on all those goals you set for yourself, from the simple to the lofty.
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Navigate the Emotional Minefield of Real Estate by Boosting Your EQ
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Price Is What You Pay And Value Is What You Receive
You know the drill. You need to evaluate a purchase. You juggle the balance between what you want and what you can afford. The Oracle of Omaha is attributed to the Buffetism, “Price is what you pay, value is what you receive.” Strategy WAV Group works with all types of firms to lead vendor selections each year. It starts with strategy: outlining the goals of the purpose. What happens if you buy? What happens if you don’t buy? What does success look like? Discovery The next step is discovery. Who are the potential suppliers? Who uses them now? What are the competitors using? How will the purchase shape the hearts and minds of the stakeholders and the company’s services? Will it fit? Are our people capable of managing, training, and supporting the purchase? A lot of this work is to define the target. Discovery is research. RFI Process RFI is a request for information. It is a document that outlines what the goals are of the purchase and highlights any known contingencies. It speculates about painkillers, “features you must have,” and the vitamins, or the “features that would be nice to have.” You send the RFI out to the people that your discovery process identified. You invite candidates to learn enough about you so that they can assess the suitability of their product or service to work within the definition of your needs. If they see a fit, they respond by initiating a conversation to learn more details about your needs and to expose their alignment with serving your business.
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7 Ways to Improve Your Time Management
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Selling Tip: Dealing with a Buyer’s Down Payment Anxiety
Following the great housing bubble burst, real estate investment phobias abound. One of the largest fears scaring would-be buyers away from a home purchase: A lost nest egg, gobbled up by a home which, when later sold, nets little to no return on down payment. But what if those precious funds were protected? Would more buyers bite? Crisis of confidence According to a recent Harris Poll, would-be buyers continue to be reluctant to enter the housing market, despite recovery. Only 55% of renters expect to get a return on their down payment investment if they buy today and resell within the next few years.
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16 Ways to Be Productive in 2016
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Kids and Real Estate: 5 Tips for Your Sellers
Did you read last week's post: Kids and Real Estate: 5 Tips for Your Buyers? Well today we're posting the companion piece, created to help home sellers with young children prepare for the sometimes hectic days and weeks ahead. When you decide to list your house and you have kids, it can seem like you have so much to do to get (and keep) everything in a presentable condition. This list of easy tip and tricks will help sellers with little ones stay calm, cool and collected throughout the sale. It will also help you make sure your listing is attractive to buyers with or without families. You can share these on your website, in your listing package or include them in emails to your clients. 5 Tips for Buyers with Children 1. Be Prepared to Repaint If your kids have brightly painted bedrooms, consider taking the initiative to repaint them using a paint color that sells. A neutral bedroom will appeal to all buyers, whether they have children or not, and can help you avoid costly repainting estimates during contract negotiations. While you're at it, check doors, window sills and bannisters to see if they could use a touch up. In addition to repainting and touching up, scan your home for stickers or decals and remove them before taking listing photos. Although they may only seem like little things, you don't want potential buyers to see stickers and instantly think of the work they would have to do to remove them if they bought your house. Putting in a little elbow grease will make your home look as move-in ready as possible.
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