Your Coaching Matters YCM Pedia

Make This Year Your Best Year Yet in the Real Estate business

Monday News You Can Use!

November 7, 2022

Really good video on what’s going on mortgage wise – takes some time but worth it (Click here for the Slides from the Video)
 
Did anyone tell you the market is shifting?  🙂 Higher rates lead to stagnation. 
 
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 Tech Tip

BoxBrownie.com

In a world where scrolling on social media is commonplace, the ability to post scroll-stopping photos and content is invaluable. That is exactly what BoxBrownie.com helps you do.

BoxBrownie.com provides photo editing, virtual staging, floor plan redraws, and renderings at extremely affordable prices. Their service enhances your ability to provide professional real estate photography that helps your listing stand out from other homes.

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  Conversation Advancer of the Week:

I want to price my home $XX,XXX too high!
I am sorry but under the circumstances (price, show-ability, commissions) I do not believe I should take your listing.

I’d rather have you tell your friends and neighbors Mike would not sell my house rather than have you tell them Mike could not sell my house.

If you change your mind on price please let me know.

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Register Today for Tomorrow’s Workshop!

There are FOUR good reasons why Investor Owners may be YOUR next best Business Source… and 9 Steps to build out the System.  I give you BOTH of those on this FREE event limited to 100. MUST PRE-REGISTER to attend. Copy and paste this or click button below.

https://us02web.zoom.us/meeting/register/tZctduupqTgpGtEzN4seLOIgS0NY06MDneiq 

Tuesday November 8th at 1:30pm Eastern / 12:30 Central /10:30 Pacific

YES, your “VIP List” of Past Clients and Sphere MAY need help next year.
BUT MOST ARE GOING TO WAIT OUT THE CYCLE!

This is TOO Important to Miss!

CLICK HERE TO REGISTER TODAY!!

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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
https://www.facebook.com/groups/CoachingMatters?
Unstoppable!
Mike Stott
mike.stott@mac.com

www.YourCoachingMatters.com

Cell: 678-232-0927

Office: 770-726-1256

International Coach Federation • Certified ACC

 

Monday News You Can Use!

October 31, 2022

Zillow laying off 5% of its workforce! What are you doing to make sure you have no money leaks?

Housing shortage worsens – New York and New Jersey had 497 new jobs and only 13229 new single family permits issued. It will be years if not decades to rectify. 

No silver lining – New home sales down 18% year over year 7.16% interest rates – tanks refinances and demand! All cash buyers – are they worried about catching a falling knife – interesting term

Freddie Mac’s New Rules to help home buyers – Freddie Mac wants to “level the playing field” for home buyers

The Great Stagnation 

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 Tech Tip

BombBomb

 Customer communication in our industry has become awash with drip campaigns filled with automated property updates, impersonal emails, and scripted texts. To stand out from your competition, personal connection and authentic communication have never been more needed. This is the gap that BombBomb fills.

BombBomb’s software allows you to record a video message from your computer or phone making it simple to add a human touch to your emails or texts. Plain text emails can be misunderstood or come off as cold, but video emails allow the client to see and feel your excitement, energy, and passion for the home they are considering buying or selling.

You have the option to record a straight video of you speaking to them via the camera or to share your screen. These are a few examples of ways BombBomb videos can help you stand out above your competition:

  • Video introduction to a new lead
  • Screen share to discuss a contract or listing agreement
  • Screen share aerial maps to show how close schools, work, or desirable amenities are from a home
  • Video unsolicited CMAs
  • Video updates to listing or buyer clients

If you’re looking for the best way possible to connect or reconnect with real estate clients/prospects, BombBomb is the tool for you.

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  Conversation Advancer of the Week:

“If we could just pick this house up and put it down there”

Me too! That is one of the challenging aspects of buying a home in this market— You already know the 3 things that determine a home’s value: Home, Price, and Location. Usually, when I chat with buyers like yourself about this, I ask them if there are 2 of the 3 things that are really important. What are the 2 non-negotiable items?

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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
https://www.facebook.com/groups/CoachingMatters?
Consistency,
Mike Stott
mike.stott@mac.com

www.YourCoachingMatters.com

Cell: 678-232-0927

Office: 770-726-1256

International Coach Federation • Certified ACC

Monday News You Can Use!

October 24, 2022

We will see a continued decline in the number of  sales.
Numbers are at a 10 year low
Mortgage rates above 7%
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 Tech Tips

Ipad or 2 or One?

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  Conversation Advancer of the Week:

When they state something as an absolute “I have to have a large yard”

Try “How important is it to have a large yard?” and then “ Could you Describe your Ideal yard to me please.”

This gives you some information and helps you help the client quantify what they want.

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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
https://www.facebook.com/groups/CoachingMatters?
SLOW AND STEADY
Mike Stott
mike.stott@mac.com

www.YourCoachingMatters.com

Cell: 678-232-0927

Office: 770-726-1256

International Coach Federation • Certified ACC

Monday News You Can Use!

October 17, 2022

Not much news other than Mortgage rates and # of sales declining –
Refinance Loans have dropped 86% – Buyers overall down 39%  people want riskier loans (ARMS etc)
Sky High Rates make buying Harder
Rental scams increasing  –  Up 39% from last year!
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TECH TIP

Wireless Battery Operated Security Camera

$250 for 3 – might be useful for listings

Blink Outdoor – wireless, weather-resistant HD security camera, two-year battery life, motion detection, set up in minutes – 3 camera kit

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  Conversation Advancer:

Can you Explain this graphic to your Buyers and show them why they may still want to buy?
To hear and see some ideas join us on the FREE Coach Is In at zoom Tuesday the 18th at 11:00 EST (Join Zoom Meeting https://us02web.zoom.us/j/7707261256)

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Upcoming Webinar!

Are FSBOs going to SAVE YOUR BUSINESS?

How to Work FSBOs for 2022-2023 -Updates and Additions!

This coming Thursday, October 20, 2022 02:00 PM ET

YOU MUST PRE-REGISTER to attend!
If you cannot make it, still register and we will send you the recording!!

CLICK HERE TO REGISTER FOR THE WEBINAR NOW!

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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
https://www.facebook.com/groups/CoachingMatters?
Inspired,
Mike Stott
mike.stott@mac.com

www.YourCoachingMatters.com

Cell: 678-232-0927

Office: 770-726-1256

International Coach Federation • Certified ACC

Monday News You Can Use!

October 10, 2022

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Tenants not making rent payments – article states rent are up over 12%
 
Mortgage rates doubled since 10/1/21
 
6 Kitchen Remodeling ripoffs!
 
Its that time of year – how to rake leaves

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TECH TIP

Video Edition – inexpensive and powerful – Wondershare FIlmora 

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 Conversation Advancer of the Week:

When they state something as an absolute “I have to have a large yard”.

 “Try How important is it to have a large yard?” and then “ Could you Describe your Ideal yard to me please.”

This gives you some information and helps you help the client quantify what they want.

__________________________________

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
https://www.facebook.com/groups/CoachingMatters?
Deliciously Uncertain but Taking Action Anyways.
Mike Stott
mike.stott@mac.com

www.YourCoachingMatters.com

Cell: 678-232-0927

Office: 770-726-1256

International Coach Federation • Certified ACC

Monday News You Can Use!

September 19th, 2022

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Interesting article on HOA’s – they have too much power in Georgia – how about your state?

Mortgage rates hit 6% – buyers not buying.

Major west coast markets seeing prices lowering. 

Rent rates can’t keep rising can they?

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TECH TIP

I have buyers looking for  Toilets with Bidets – how about you?

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 Conversation Advancer of the Week:

“I’m a year or so out from buying”

This is a stall – their monkey mind is just keeping them safe – ask a great question that brings them into the pre-frontal cortex:

“Just out of curiosity what’s magical about a year or so? If we could get you approved for a loan with these low-interest rates, get you into a great home, and show you how that’s cheaper than renting would you be willing to take a look?”

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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
https://www.facebook.com/groups/CoachingMatters?
Getting it Done!
Mike Stott
mike.stott@mac.com

www.YourCoachingMatters.com

Cell: 678-232-0927

Office: 770-726-1256

International Coach Federation • Certified ACC

Monday News You Can Use!

September 12, 2022

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Pretty Cool report from the NAR (yet another reason your dues dollars are well spent)  Good info graphics to share with your clients/customers and the full report is downloadable.  I’m surprised that hardwood floors are the most effect cost return wise.  Real really cool feature is the Joy return – what a great concept (top return  – kitchen remodels)

CITI and Bank of America offering programs for buyers with little or no credit – easier qualifying, lower downpayment, and no mortgage insurance. It was interesting that the press initially reported theses as only for Black and Hispanics but they were wrong.  Fact Check everything before you spend energy on it!

Inventory up 27% nationwide – its time to work on how to keep listings happy and get price reductions – ask me for a free report .

Mortgage rates at highest level since 2008 – make sure your buyers shop around as rates are varied from company to company.

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TECH TIP

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Calendly: 

Connects to your calendar and shows clients your availability, integrates with other tools, and can be embedded into your website for new prospect appointments. Monthly plans are $15 with custom branding, group events, and integrations.

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Conversation Advancer of the Week:

We need to net more money!

I hear you. More money is important. Is that correct? Im just curious, how would you know if more money wasn’t possible?

(Listen to their answer, be ok with silence)

Saying you need to price your home determined upon what you need is almost like believing the market cares what you need, when in fact the market doesn’t take action on what we, as a seller needs. Based upon my professional and skillful analysis your next best step is to put the home on the market, Mr and Mrs Smith, for $XXX

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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
https://www.facebook.com/groups/CoachingMatters?
I’m Happy – Truly Happy!
Mike Stott
mike.stott@mac.com

www.YourCoachingMatters.com

Cell: 678-232-0927

Office: 770-726-1256

International Coach Federation • Certified ACC

Monday News You Can Use!

September 6th, 2022

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Canary in the Real Estate Coal mine has been San Diego for Decades – this video explains housing’s hot market and return to normal. I like the “starter home concept.”

More on the new normal – with rates higher (but still great rates historically) price appreciation will slow down.

Misleading headline designed to get readers – it could have said – “Home Sellers still getting 99% of asking prices”.

Generally not a fan of housing as an investment even Goldman Sachs is saying prices will only flatten 

MLS listed homes sell for more (send this to all your prospects)

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TECH THINGY

Something cool to lets your clients children occupy themselves 
(Buy a couple as the kids love it as a gift!)

Carson MicroMini 20x LED Lighted Pocket Microscope
with Built-In UV and LED Flashlight

The MicroMini is an Easy to Use LED Lighted Pocket Microscope with a Keychain Attachment;
Magnification: 20x Power ; Extremely Lightweight, Portable and Compact Design.

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Conversation Advancer of the Week:

I don’t want to give it away.
And I certainly don’t want you to ‘give it away’ either. 

So when you bought this home for $250K 7 years ago, did you ever think that your home would almost double in value in such a short period of time?

Congratulations you won a real estate lottery! 

And so when the market price appears to be closer to $510K (as the buyers are telling us), are you really giving your property away? Why don’t we take a look at how you can best take advantage of today’s market and get exactly what you’re looking for.

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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
https://www.facebook.com/groups/CoachingMatters?
Finding Simplicity, Harmony and Opportunity!
Mike Stott
mike.stott@mac.com

www.YourCoachingMatters.com

Cell: 678-232-0927

Office: 770-726-1256

International Coach Federation • Certified ACC

Monday News You Use!

August 29, 2022

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Should you buy or rent in this savage market? The comments are ridiculous but we need to be able to answer “hesitant” buyers concerns.
Rents set record high – remind your buyers that renting costs more year after year
If this is a recession its a weird one.  Go about 1:40 into the video – number of sales have declined.

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TECH IDEA

Look at 25 year mortgages for your buyers.  

Points charged are less and the interest rate is lower and easier to buy down.  And the mortgage is paid off 5 years sooner. Meaning equity grows faster.

For example – currently the 30 year fixed is 6% and 1 point. 25 year is 5.75% and no points (saving $4,000 upfront on a $400,000 mortgage.).  The payments are then $2,399 for a 30 year fixed and $2517 for the 25 year fixed loan. So you could save $4,000 upfront and pay $118 a month more and break even at about 3 years.   But if you put the same point of expense towards a buy down the 25 year rate  to about 5.0% the 25 year payment goes down to $2,339.  Saving $60 a month and paying it off 5 years earlier! On the 30 year 6% portion after 10 years you’ve paid off $68200 and with the 25 year same points at 5% you’ll have paid off $92,400.

If the numbers are confusing talk to your local lender and have them explain it.

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Conversation Advancer of the Week:

Setting the Stage on a price lower than what the sellers expect.

“Wow, thanks for showing me your home.  As we getting into my professional pricing analysis I said WOW! I see you bought the home in September of 2017 for $340,000.  If you had known then that the value in 5 years would be over $520,000 you would’ve been thrilled – that’s like $35,000 a year in appreciation.  Congratulations.  Heres my spreadsheet showing you what your homes value is today.”

This can lessen the disappointment or “Im losing money” when they expected the home to be worth $600,000.

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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
https://www.facebook.com/groups/CoachingMatters?
Be Happy!!
Mike Stott
mike.stott@mac.com

www.YourCoachingMatters.com

Cell: 678-232-0927

Office: 770-726-1256

International Coach Federation • Certified ACC

Monday News You Can Use!

August 22, 2022

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A nationwide number of home sales down 20.2%  And the median price rose 10.8% from July to July!  Do you know these stats for your service area? (Ours is down 36% and number of sales up 15% in median price)

What do you all think about this lawsuit?  Brand protection for real estate advertising.  This could lead to a kerfuffle.

Is the market going to see declining prices? For builders maybe

5 Backyard Patio Ideas

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TECH IDEA

SpeakingPhoto

Imagine you are a FSBO and receive a picture with VoiceOver telling
the seller much you like their house/ad/trees etc.
Ice Breaker???

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Conversation Advancer of the Week:

When you hear something SO WRONG!!!! 

Be gracious and spacious when encountering a belief that is wrong.

I often hear a FSBO or another client say something that is 100% wrong. The BACKFIRE EFFECT can come into play if I use the wrong language. Anything that is controversial can close off space and cause the client to get defensive and will even solidify their erroneous belief. Correcting misinformation hardens, rather than corrects, someones mistaken belief (just look at any comments on a controversial post on Facebook.) Try using “would you be willing to consider…” and “You may be right …” and “others thought that way and then found …” and experience the space and grace it allows. 

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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
https://www.facebook.com/groups/CoachingMatters?
Staying Possitive!!
Mike Stott
mike.stott@mac.com

www.YourCoachingMatters.com

Cell: 678-232-0927

Office: 770-726-1256

International Coach Federation • Certified ACC

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