Elevate Your Life

This pandemic, while painful to most people, has brought some positive consequences. People are spending more quality time with their family, getting back to basics, cooking more at home instead of eating out, and learning to be more frugal.
In our business, agents are realizing that they can work from home and can utilize technology to be more efficient.
They're also acting more like business owners...assessing the incoming as well as the outgoing and realizing they've been giving up far more of their commission than they had to.
At the same time they're realizing the "value" they once saw in their current broker is changing. They're not getting what they need AND paying their broker too much of their hard-earned commission.
Our business is ever-changing, especially now. We may never go back to the way it was, so now more than ever it's time to do what's best for you. You need strong technology to make your business more efficient, AND you need new ways to grow your business and your income, AND you need diversification...new revenue streams to hedge against business interruptions, AND you need someone who will help you build wealth for the future, AND most of all you need a coach that understands you are unique and who will help you navigate all this to get what you want.
You want all of this at a great VALUE.

It's here...

NHP The industry is changing… Real estate is a rapidly changing industry. You need to be re-positioning yourself, finding new ways to actively grow your business, adding additional revenue streams to your model, and seeking new ways to stay relevant in the eyes of your client. We’re helping our age...

If you're in a location that prohibits you from practicing, or you prefer not to be out and about right now, take the opportunity to enhance your skill sets in order to add value to your service and diversify your income. Our industry offers the ability to develop numerous income streams. Add a designation, become a Broker, learn more about investing, become a notary, learn more about property management, develop your skills in commercial brokerage or lending. Seize this opportunity, for once we return to the new normal, you'll wish you had this time back.

While I do realize the anxiety created by this "new normal" and by the restrictions placed on our business may seem daunting to some, it's important to remember a few things:

*first and foremost, you're a professional.
*this will be over, and likely soon.
*people who didn't need your help before this will likely need it now...anticipate their needs and be there for them.
*many resources will soon be available for your clients, show yourself as a resource to help them find the help they need.
*like all major shifts, this one will present new opportunities for those who adapt.

Now is not the time to be caught up in anxiety or self pity, but to rise above it and be there for the people who will need you...and they will.

Many of you will have clients calling to ask about interest rates...this should help you provide good answers to their questions.

The Fed Just Cut Rates to 0%. Here's What It Means for Mortgages, Student Loans, Credit Cards, and More It's bad news for savers, better news for borrowers.

Is your cash offer really a cash offer?
It's volatile times like these that remind us of some very simple truths that we may have otherwise forgotten...let's explore.
You represent a Seller and have received a "cash offer" from another agent, along with a POF that shows enough funds to close the deal. Sure, you glance at the number, but do you pay attention to where the funds are located?
Let's say in this case the POF was a 401k statement and a stock brokerage account that when combined, covered the offer amount.
if the stock market drops 23% in a matter of days, as it just did, do you still have a cash offer? You may no longer have a buyer at all. That buyer tendered a "cash" offer, relying at the time on those funds being available, and now 1/4 of it is gone.
Chances are that deal just fell apart.

A couple of best practices to protect your seller in a case like this...
*require a larger deposit. (5% minimum)
*require a secondary deposit once the contingencies are removed (if it's a cash offer, there should only be inspection related ones)--10% more is not unreasonable.
*limit the inspection period to 7-10 days.

If they're a serious buyer, and they've had reasonable time to complete due diligence, it's time to put up or shut up.
Most importantly, you've served your client well.

The first quarter is essentially over. If it's not in escrow now, barring few exceptions, your Q1 is in the books.

What's your run rate for the year?
What adjustments will you make to hit your goals?
Do you have everything you need to get there?