Tuesday, January 31, 2012

What does a listing presentation with a distressed homeowner sound like?

Provided By KW Blog

WE ASKED Ryan Overmyer!

What does a listing presentation with a distressed homeowner sound like?

The listing presentation is a two step process. First we do an initial over-the-phone qualification. If the projected terms are acceptable to the borrower(s) we then schedule an in-office appointment with borrower(s) for a final review and to sign documents. I have them sign anything and everything we could ever need. We also schedule a convenient time for the photographer to visit their home.

By the end of the initial call sellers feel so comfortable even after such a short conversation because I’m usually able to tell them what the exact terms and/or outcomes of their short sale will most likely be. I’m able to do this because I speak with so many banks so often. Also be prepared to field questions about credit, a timeline and their individual financial circumstances.

Script: Initial Over-the-Phone prequalification

Seller: I’m interested in receiving more information on how a short sale might be a good option for me.

Agent: Certainly. Would it be OK if I asked you a few quick questions that will help me answer YOUR questions a little more accurately?

What do you think your home is currently worth?

Deal Breaker for Overmyer: An anticipated sales price of under $100K.

How would you rate your home’s current physical condition?

Deal Breaker for Overymyer: Poor condition.

Who is/are your lien holder(s)?

What are the estimated mortgage balances?

How many borrowers are on the loan(s)?

Are you currently up-to-date or behind on mortgage payments?

(Note: Give them the most probable outcome of the sale based on their answers to these questions. For this script, we’ll assume there is one borrower with one MajorBank mortgage loan.)

Agent: OK, thank you! Now, let me give you the “cliff notes version” of how the short sale process would most likely go for you. Please keep in mind that the results of your short sale are incredibly bank specific! If you had a lien holder other than MajorBank Mortgage – we’d project a very different outcome.

First, we’ll place your home on the market – listed at market value.

Then, we’ll retain a purchaser and market value offer for your home.

Then, we’ll lock that purchaser in place and assemble your short sale package. Your lien holder will require various financial documents – and we’ll email you a checklist of these required documents prior to getting off the phone today.

After we’ve finished assembling your short sale package – we’ll submit it to your bank and begin the negotiation process.

Since your loan is with MajorBank, here are the terms we’d expect to receive.*
Do these anticipated terms sound acceptable to you?

*Bank terms trend quickly. So it’s important that you giving clients accurate information. If you’re unsure about the probable outcome of the short sale – consult with another short sale expert or wait to offer the expected outcomes until you have reliable information to back your predictions up.

Thursday, January 26, 2012

Agents: Cultivating Your Community

Provided By Realty Times

Developing a strong and stable real estate business in any area means cultivating your community. As an agent, you are the gateway new homes and new lives. You are also trusted to navigate what will be one of the most financially intensive episodes of your clients' lives.

How can go about letting your community know that you are a sincere and trustworthy ally? It starts with a sincere and trusted interest in your area, region, or town.

You must become part of more than just the real estate industry of your community. You need to develop relationships and interests in other areas. Can you support local non-profit groups with your time and donations? Does the local high school need activity advisors or debate judges? Are you well-equipped to deal with city council matters?

Pick some areas of civic activity that are of true concern or interest to you. You might want to try out several volunteer activities before you settle on one or two that are the best fit. For example, you might consider volunteering your time at the local soup kitchen or pet shelter. Maybe you'd prefer to help organize funding raising events or serve on a board.

Next, be sure to keep a tab on the pulse of your community's decision makers. Have contacts at the city offices and homeowners associations. Your customers rely on you to be their liason on the latest developments and how they could affect their sale or purchase.

Being out in the community brings two-fold benefits. First, you are helping those in need and helping create a cohesive community. Next, you are gaining exposure for yourself, which in real estate if what business is all about. You are your business. The more you network the more likely you'll find sellers and buyers. Having a positive image can only enhance this.

To take full advantage of this fact, you need to be sure that your name and company are visible. You should have a website that is search engine optimized. Be sure to update it regularly and have easy to use and find information. Don't make people sign up to see listings!

A website is just the beginning, though. You need lots of face time exposure. This means being sure to have signage at your office, professional for sale signs for listings, monthly newsletter mailings, and make a habit of sending thank-you cards to clients.

Being an integral part of your local community is rewarding. Try becoming more involved today and see how your business grows!

Tuesday, January 24, 2012

Real Estate Marketing Strategies: Stop Being so Hard on Yourself

Provided By Realty Times

Do you have to be hard on yourself in order to succeed?

When I coach real estate agents in creating their multiple six-figure incomes, I often hear this misconception: "I need to be hard on myself in order to succeed."

When I ask about the origin of this belief, I often receive stories of being conditioned by well-meaning teachers and parents in a controlling and rigid way. Since we learn to treat ourselves we were treated, my clients are just carrying on the legacy because they don't know how else to motivate themselves in order to succeed.

Unfortunately, however, their strategy actually works against them. Studies have shown that when we are hard on ourselves, and beat ourselves up, we actually lower our energy. This leads to decreased motivation and eventually burnout.

So what is the answer? If you're not going to be hard on yourself, then how do you motivate yourself to succeed?

Fortunately, there is a positive solution. Research indicates that if we choose a positive and encouraging way to get ourselves focused and on track; that this can be a very efficient motivation technique.

So here are some tips on how to change your motivational strategy.

Awareness - Start becoming aware of the words you say to yourself every day in order to get up to speed. Do they have a positive or negative tone? Do they build you up or tear you down?
Observe – Observe your energy when you hear these words. Does your energy increase or decrease? If you have an inner tyrant, do you also have an inner rebel?

Intervene - when you become aware of how often and you are being hard on yourself, it's time to intervene. The best way to break into your own thoughts is to use the "Stop Technique."

Here's how it goes:

Say the word "STOP" when negative voices arises in you

Then take a deep breath interrupt the pattern

Finally, put in a positive new thought

What kind of positive new thoughts should you install? I recommend thoughts of positive self talk, such as:

I now motivate myself in a loving and encouraging way

I inspire myself with the enthusiasm and energy

I treat myself with kindness and respect

Create your own phrases of self-talk. They can be as simple as saying to yourself: "Good job" or "You are on the right track."

When you start treating yourself with more respect, you will notice your energy level increase. Use that increased energy to prioritize your day, and implement what you planned.

Remember, you don’t need to work harder; you just need to work smarter.

Thursday, January 19, 2012

Real Estate Marketing Strategies: 3 Tips to Make This Year Your Best Year Yet

Provided By Realty Times

Are you wondering how to break through your own glass ceiling and make this year your best year yet? Here are 3 tips to help you be at the top of your game:

1. Cultivate a positive mindset, no matter what:Did you know that your success depends on your mindset, not on the economy? Here are some things you can do that make sure that you are thinking positively. Focus on all the positive things in your life. Was your house warm when you woke up? Did your car start? Appreciating even the small things can change your entire outlook.

Search for motivational resources that keep you uplifted. Don't overwhelm yourself with the news. Remember, your clients don't care if you are well-informed about world affairs or even national affairs, but they do want to know that you are well-informed about real estate in your community -- so focus on that. Avoid toxic people. What does that mean? Be on guard for people who want to share their negativity with you. Avoid them like the plague. If you are caught in an elevator with a toxic person you could always set up in boundary and say to yourself "that may be true to you, but it's not true for me."

2. Pump up your lead generation. This is a two-step process.One, you need to release old self-limiting beliefs that stop you from picking up the phone, such as:

"If I call people, I'm bothering them"

"If I call people I might appear too salesy"

"If I call people I might be rejected"

Two, you need to install updated empowered beliefs such as:

"I have a valuable service to offer people and people are happy to hear from me"

"There is no such thing as a rejection; it's either a match for it's not a match"

3. Clear your self-limiting beliefs:

The latest brain research shows that what you say consciously only accounts for 2% of your brain activity. The other 98% is run by your subconscious mind, by beliefs that were installed in you at a younger age and may or may not be helping you now. Here's how you can check whether your mind is helping you or hurting you:

Do you get caught up in unproductive patterns? Do you procrastinate? Is your income inconsistent?

If you answered "yes" to any of the above questions, then most likely you have counter intentions to your success. Here are a few anti-success beliefs:

I have to be perfect to be okay.

I have to be hard on myself to succeed.

To succeed, I have to work long hard hours, struggle and sacrifice. If any of these sound familiar to you, then you need to change them to pro-success beliefs, such as:

I am perfectly imperfect, just like everyone else.

I motivate myself in positive and encouraging way.

To succeed, I just need to work smarter not harder. If you can focus on the positive, make lead generation a regular habit and clear away the beliefs that are holding you back, then nothing can stop you. Implement each of these tips into action and watch this year become your best year yet.

Tuesday, January 17, 2012

Why Smart Trust = Smart Business

Provided By KW Blog

Imagine pitching this start-up company to a potential investor: “It’s like a giant yard sale where people purchase used clothes, electronics, even cars from total strangers based solely on the seller’s description and pictures. It’s open 24/7/365, and will attract visitors from around the world.”Sounds ludicrous, right?

Actually, it’s spot on. Today, eBay is a $35 billion company with over 235 million registered users, engaged in over one million transactions a day. And, according to Stephen M.R. Covey and Greg Link, authors of the new book Smart Trust: Creating Prosperity, Energy, and Joy in a Low-Trust World, it’s because when you really look at the company and its founder Pierre Omidyar’s business plan, trust is at the helm.

“People everywhere are basically good,” states former eBay CEO Meg Whitman. “We provided the tools and reinforced the values, but our users built eBay. Our community’s willingness to trust eBay—and each other—was the foundation of eBay’s success.”

After reading an advanced copy of Covey and Link’s book, it’s easy to see how revisiting the idea that people are inherently good, holds some clout. Trust still works. And, even better, smart trust—not blind trust—means smart business.Covey and Link are not touting naiveté —wear your heart on your sleeve; arms wide open, eyes closed shut, trust. Rather, the book challenges readers to be aware of the vast possibilities afforded when trust is reintroduced into business.“

A fundamental element of eBay’s approach is self-policing, much like that engaged in by the Maghribi Traders in the 10th Century Mideast,” write Covey and Link. “eBay buyers and sellers do business in a highly transparent way…creating a reputation for each trader, which affects his/her credibility.”

NAR research has long shown that real estate professionals work in a high-trust industry. The most important factor by far according to the NAR 2011 Profile of Home Buyers and Sellers when choosing an agent is honesty and trust. In fact, trustworthiness has held its place at No. 1 since 2006, and prior to that, can be argued to have been lumped in with reputation for over a decade.

Colloquially, this is often summed up as, “People want to do business with people they know, like and trust.” Trust can power any company to the top no matter what industry you’re in.

So, what’s the No. 1 thing you do to build trust with your customers?

Thursday, January 12, 2012

Real Estate CyberTips

Provided By Realty Times

TRICK#1 - Track Ships And Boats At Sea http://shipfinder.co/

With the exception of most military vessels, which are mostly excluded for obvious security reasons, here's an easy way to check a goodly percentage of the ships (and boats) at sea at any particular time.

This intriguing on-line program tracks ocean liners, cargo ships, tankers, freighters, pleasure craft pus many more vessel types. It shows you moving, anchored and docked ships. It gives you detailed ship information including photographs. You are privy to detailed voyage information - including route history, destination and estimated time of arrival at the destination.

You can recreate and plot journeys on dates you select with a feature called "Playback". Using filters you can select only the ship types you wish to track. You can search for specific ships by name and even watch the progress of ships on Google Earth using their "Sail Me" simulator. And they even have a flight simulator showing you just about every flight in the sky -- in real time.
Pretty useful and fun site -- particularly considering it's on the house with no ads.

TRICK #2 - This Butler Will Do Your Computer Tasks http://www.winparrot.com/
How often do you perform the same task on your computer? Often repetitive tasks involve 4, 6, 8 or more keystrokes. Do you ever find yourself thinking, "There's gotta be a better way?"
These folks have developed an easy to use program that allows you to type the routine once while their software captures all of your keystrokes and repeats them for you anytime you wish -- with a single click.

If you perform repetitive tasks daily on Windows XP, Vista or Windows 7, this gadget will save you a lot of valuable time. You simply start recording. The program generates a file containing all your actions. You can modify the saved document at any time.

It's like having a butler at your beck and call to do many of your computer tasks. And the program is yours for the asking.

GREAT PLACE #1 - Check Out Your User Name In A Second http://namechk.com/
Ever wondered whether a user name you have rolling around in your head is available?
Just type in the user name you'd like to check and this great place instantly shows you if your desired user name is available at over 80 social networks (just about all of the top social networking websites). By typing your user name into the "chk" search box, it will query all the sites listed and instantly display whether the user name is taken or available.

With links to all of these sites this is also a good way to see what Social Networks you may be missing. This place is neat, fun, useful and free.

GREAT PLACE #2 - Uninstall With Ease https://sites.google.com/site/leizersoftware/home
We'll bet that you have a few (or many) programs that are clogging up your computer and gathering dust from lack of use. Many folks never get rid of these because it's often to much a hassle to head all the way to the Control panel, locate "Uninstall Programs", wait for the selection page to populate, find the program and execute the uninstall.

The folks at this great place give you a program that adds an "Uninstall" option to the Windows context menu (Drop down) so you can remove programs right from their shortcuts. Simply right click on the program's shortcut and select uninstall from the dropdown menu. It's as easy as that.

And what makes these folks even nicer is they give you this great one trick pony without any cost to you.

Tuesday, January 10, 2012

The Time to Bel1eve is now!

Provided By KW Blog


Dear Associates,
Our company’s success is rooted in our ability to believe. We believe that Keller Williams Realty is built by you and for you and that your brand matters most.

We trust in our value proposition and in our dedication to building careers worth having, businesses worth owning and lives worth living. We believe in these pillars, simply because they are true!

Last February at our Family Reunion, we celebrated becoming the second-largest real estate company in the United States – an incredible accomplishment that is entirely yours. Now, as we look forward to 2012, we’re ready for the next step. To put it into perspective, let’s look at where we stand in the competitive landscape.

It thrills us to say that while other companies have gone down in size by nearly half since 2005, Keller Williams Realty has grown from 57,600 to 77,672 associates during the same time period – an increase of almost 35 percent! To use Gary Keller’s words, we know how fortunate we are to be standing on the shoulders of giants. And those giants are you! Our biggest asset as a company is that we are long-term thinkers. We set the bar high, and while reaching the No. 1 spot in our industry is absolutely our destiny, it’s about becoming the real estate company of choice for the long haul.

What this means for us is that our trajectory is clear and we are going to remain steadfast on our journey to become the No. 1 real estate company in North America. Make no mistake; we understand this is a huge under – taking. We also know that there is no better time than now to seize every opportunity. It is that unstoppable passion which brings us to our next objective: to never have a single agent go backward. Simply put, your success is our goal.

Our focus has and always will be on providing the very best education, training and coaching, so that you stay on a forward trajectory in your career and your life. This year, that includes Ignite. Replacing CAMP 4:4:3, we know the contents of this amazing class will spark your career and absolutely unleash your potential, getting you into production now. (See page 22 to read how it’s already changing businesses.)

Profit sharing is the ultimate manifestation of our philosophy of succeeding through others, and it is an absolute promise we’ve made to you. As of December 2011, we’ve shared $36 million with you! We know that number is entirely possible because of your ingenuity, ambition and your talent in your local markets. As you read through the pages of this issue, you’ll see what we mean. And by the way, let’s remember that our company’s entire belief system is centered on our extraordinary culture. We’ve said it before: we’d rather build a company of good citizens first, and then a company of top producers. We’re lucky that our culture fosters both.

You hold the future of our company in your hands, and we are absolutely thrilled to serve as stakeholders with you on our way to the top. We want you to know that we’re going to continue believing in YOU. We trust that you’ll keep on believing in yourself and in Keller Williams Realty.
Keep on Bel1eving!

Mark Willis, CEO,
Keller Williams Realty