May 16, 2022
Members Library
Member Monday: Outcomes vs the Path
May 9, 2022
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Monday News You Can Use!
May 9, 2022
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So I spent the last week at the NAR Mid-Year Legislative Meetings: look for continued fair housing initiatives and efforts to include more diversity at the Local State and national Level.
Best Quote:
“Diversity is not just about color
Diversity. We allow everybody to come into the room
Equity. Equal access to all opportunities to everyone
Inclusion. Allow everyone to have a fair voice.
Take the steps necessary to make the change. Be brave enough to sacrifice to do what’s right”
Feds changing fair housing guidelines for the first time in over 20 years!
Buyers today are spending 55% more for the same house
Best Conversations:
“Teaser pricing is a factor. Listing at $395,000 when they know the home is worth worth $450,000 is confusing. Buyers cannot navigate teaser pricing since a $400,000 home may be worth $400,000 or $500,000. That’s why you need me as your representative.”
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“I am not an economist but I listen to smart economists. In our area our population is growing we have secure jobs and demand is increasing. You may need peanut butter and jelly instead of avocado toast but if you can afford it long-term then buy.”
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“Tell us what you know about the market? Then confirm or correct”
“I am so delighted to hear that. Zillow is a wonderful tool for cocktail party conversation but when you’re buying or selling you gotta go deeper than that.”
If you want all my notes for the NAR Mid-Year Meeting (they may be rough) email me at Mike.Stott@mac.com.
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Tech News
Best “Tech”
SummitVASolutions.com
$1500 a month for a full-time, trained US-Based Virtual Assistants
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Member Mondays: The Energy of Creativity
May 2, 2022
Monday News You Can Use!
May 2, 2022
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If your city is bursting at the seams then the politicos may be looking at limiting development – 2nd half of article details woes for entry level buyers.
Send to all your clients –its time to buy investment properties Nice little article
A black eye for Redfin– paying $4,000,000 for a fair housing lawsuit. The Feds are coming after Real Estate businesses in many ways – this is one.
Median price home costs 50% more to own this year than last year. 198% price increase + Mortgage rates rising will do that. Time for the conversation below.
Decent article on ARM loans Last line is the best.
Prices not expected to decline but appreciation should slow.
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Conversation advancer of the week
With the rise in rates I can’t buy anymore.
You could be right. Higher rates means it costs you more to own than before. And I suspect rents will go up too. Lets look at the numbers If you were looking at borrowing $300,000 at 3.5% your principal and interest was $1348 a month. Rates are as high as 5.5% now for 30 year fixed but 10 year Adjustable rates mortgages could be just what you are looking for – your rate is fixed for TEN YEARS – and the payment is $1502 at 4.4% – about $155 a month more – it hurts but it shouldn’t stop you from buying. Lets’ chat with your lender to see what’s possible.
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Tech News
QR codes – easier than ever
*Article by Sam Trimble
COVID-19’s impact has boosted the appeal of QR codes because they’re “touchless” and truly convenient. So, what Zoom has become for office meetings, these link-bearing graphics are doing for marketing materials and client engagement.
The tip of the iceberg: A QR code capability overview
I began using QR codes some years ago as a real estate agent in the West Texas town of El Paso. I now share my experience with agents, title companies, lenders and other industry leaders all over the country as a marketing technical director with WEST, a Williston Financial Group company.
You’re probably already thinking of ways to use them in your business, but here are a few of the things I linked QR codes to:
- A PDF file such as a buyer or seller questionnaire, flyer or move-in estimate
- A website (i.e. a splash page to promote an open house and then on cards inside the open house to things like a video describing outstanding upgrades, neighborhood highlights or my lender partner)
- A simple v-card to download your contact info with one click
- A text message, email or telephone dialer queued up to contact me; I often asked them to scan it while we were talking so I could add them to my database for follow-up. (And keep in mind, you can pre-populate the text)
- A video file introducing myself or the origin story of my company (you can easily redirect it and regularly update it with a major new listing, some local information or other items to keep it current)
- My Wi-Fi access info for anyone in your waiting area to scan and log in without having to drop what you’re doing to help them connect
- Prompts to follow my social media accounts or open a micro-site
- An FAQ flyer or video (for an easy way to stop and divert those frequent general information questions.
How to create your own QR codes
There are many QR code generators, and most have a free version and a paid version. I typically use Flow Code because of its ease of use and diversity of design options and functionality preferences. Another popular option is QR Code Monkey or Canva. Each has many super simple options and lets you create about a dozen custom codes to use immediately.
In FlowCode you can add your logo, customize the color, make it circular, and more, including changing the barcode to stars, hearts, thumbs-up and several other options.
Their tracking features are really robust, too. On their dashboard, you name the code, pick how many destinations you want, though I still keep it to one to avoid overcomplicating by directing the link to multiple places. Then just paste in the link to your document, YouTube video, Google page, Facebook, text, email, Wi-Fi — whatever — save it and your QR Code is ready to go.
Download it and do whatever you want with it.
You can always go in and edit your QR code’s link. So feel free to print a code on the back of your business card or save it as a favorite image on your cellphone. You’ll be able to update the link to another address any time you want, for instance, to link to a video instead of a PDF, or a new website, etc.
Be sure to make your QR code stand out wherever you print or place it in a marketing piece, a sign on your desk or a business card. Make the benefit of what they’re going to do very clear. If it’s a giveaway, make sure they know to “Scan this to enter my giveaway” or whatever it might be.
A boost to your review and testimonial generation
As I wrote about in a previous Inman article, reviews really are the future currency of our businesses. With a QR code to facilitate a client going directly to your specific review pages (be it Google, Facebook, Zillow, or another site), you’re sure to have more clients leaving reviews and testimonials.
The best time to ask for reviews is closing time, when they’re the most positive, most happy and most relieved. Have that QR code on your phone, and flash it to them right at the closing table. Why not get it done right then and there? There’s a good chance they’re going to open it up and leave a quick review for you.
After these record-breaking years, we are missing the boat if we’re not gathering as many reviews as possible. Although this incredible market won’t last forever, your reviews will.
*Sam Trimble is a marketing and technology director at WEST, a Williston Financial Group company, in El Paso, Texas. Connect with him on Instagram or Facebook.
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2022 Look – See – Tell the Truth – Take Authentic Action
Look, See, Tell the Truth,
Take Authentic Action
Coaching helps you bring your dreams into reality!
We do this by following a four-step Coaching model. The Coaching Model helps to get you beyond the mental chatter that is giving you reasons to stop moving toward your dreams and having what you want in life. Learning this model for use in your business is part of developing a new skill you can use in all areas of your life.
2022 Look, See, Tell the Truth, Take Authentic Action
Article from Real Trends written by Coach Donna Stott
Ask a coach: Do I need to pay for real estate leads?
Real Trends, April 22, 2022, 9:21 am
There is no doubt that lead generation programs are big money makers — for those selling those leads to agents, or for brokerages getting agents to come to them with a promise of leads.
In my opinion, they are huge money- and time-suckers for agents, however. I believe Steve Murray (senior advisor to RealTrends) once wrote about how agents are paying on average from these sources of over $3,300 per closed lead. That’s not the worst of it.
The worst of it is this: Agents say that these leads covert 1% to 4% of the time. That means for every 100 leads an agent follows up with and nurtures, only one to four of them end a closed deal. So, they wasted their time on 96 to 99 people.
Who do buyers and sellers work with?
Click HERE to read the entire article.
Member Monday: Relationship with your Support Staff/Vendors! Clarity on friendship and employment!
April 25, 2022
Monday News You Can Use!
April 25, 2022
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Interest Rates!!! Ukraine!!! Russia!!! Politics!!! Prices!!!! Uncertainty.
Yep its all happening. And its OK – we’ll work through – we will BLOOM!
People will still buy and sell homes. We will see a decrease in the number of sales and maybe an end to increasing prices. You’ll be ok so long as you build relationships, provide the best possible information, show people their options and do the work!
Love this term “Locked In” the experience a home seller has in deciding not to upgrade because the cost of a new mortgage is so much higher than the current mortgage they have.
Number of sales forecasted to be down 10%
Taming inflation is responsible for interest rate increases.
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Tech Tool
This one saves me much embarrassment
Grammarly
Grammarly is a cloud-based typing assistant that reviews spelling, grammar, punctuation, clarity, engagement, and delivery mistakes.
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Conversation advancer of the week
We will just wait until the market gets better in a few months. What specifically causes you to believe that the market will get better just because six months goes by?
- … that this offer isn’t at today’s fair-market value?
- … that now isn’t a great time to buy your next home?
What matters really is how much down and how much per month isn’t that correct? Lets look at the numbers.
| Your Coaching Matters Supports Agents and Brokers to Elevate the Professionalism of Real Estate. If you are not a member, will you join us at |
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Stott 58
The Stott 58
Client Profile to Invite and allow RELATIONSHIP
It’s critical to have information about your clients, potential clients, and potential referral sources. When you have the right knowledge, you develop TRUST, which is far more important than any product you sell. You don’t have to beat competition… you just need to go around them. You hold the KEYS when you know the People. Knowing them means knowing what makes them happy. Human nature leans toward creating happiness, however THEY define happiness. Maybe it’s your product, and it’s also always something else, too: Recognition, Respect, Reliability, Service, Friendship, Status, Convenience, and Help – things all of us care more about as human beings more than we care about any product. Once you attach your caring and personal knowledge of them to your product, people start seeing you differently.
Use the questionnaire below to develop a profile of each client, potential client, and potential referral source.
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