• What does a 15% Unemployment rate mean for housing?
• Mortgage rates hit a new low!
• What could kill our economy – a real estate recession? You must know your statistics.
• Buyers are easing back. Love this quote “By May, we’ll know whether homeowners will pay a premium for liquidity in an uncertain market, accepting lower RedfinNow offers than before,” Glenn Kelman, Redfin’s chief executive. 1st Quarter 2020 for Zillow. They posted a $163 million loss on revenue of $1.1 billion, compared to a loss of $68 million on sales of $454 million the year before. Identical rates a loss of 15%. Looks to me they built a business that experiences a 15% of their revenue 🙂

Conversation Advancer:
To use with a “For Sale By Owner” who is interested, but hesitant because they may have a buyer on the hook:   

1. As soon as you agree to list, you will have leverage. You can call any buyers who have seen your house, or any new buyers you may find in the next two weeks, and tell them you can still sell privately to them if they are interested.
2.  I will immediately prepare a thorough analysis, and you will know exactly how much a direct buyer would have to pay so you would come out ahead by selling to the buyer. That puts you in a very strong negotiating position!
3. If you decide to sell to a buyer, we will suspend my listing until you close. If your sale goes through, you owe me nothing. If your buyer fails to close, I may have a back-up buyer ready to close. That way you would be in a Win-Win situation, Right?

Tech Tip:

how to buy refurbished Tech

• Sobering news from Realtor.com – How much is Corona affecting the market?
• And Fannies Maes Prediction – down 15%
• Mortgage Rates at record lows! 
• Nice ads from Zillow & realtor.com
• Rural homes making a comeback?

Tech Tip:

Tech Tip – New Macbook software should extend battery life.

• Will the Corona Virus Threaten Our Housing Market?
• Save and send to all potential Buyers- What to expect in a Home Inspection
• Tax returns not due until July

At Your Coaching Matters, we love our clients and want you all to be safe and productive.  We are concerned for you all during this time of change and a pause in our normal routines. We are all trying to adjust daily to a rapidly changing environment that may impact our sense of safety and sanity. It is time to love on one another, as peers, coaches, and clients and reach out (virtually) asking ourselves how can we become more sensitive and active and serve our communities. Here are our suggestions. Feel free to print and post in your offices. 1) Don’t stop contacting people. MORE THAN EVER people need to hear from you. For many, this economic crisis is causing some to lose income or entire jobs.  Some are elderly.  Many are isolated. We want to learn who those people are and reach out to resources that may be able to help. There are a lot of people willing to pay it forward and share the blessings they have received in life. Find those people in your contacts as well. One of our property management owners volunteered that if any tenant cannot pay rent April 1st, that he will give them a month’s free rent. He owns 7 properties. ASK those who can help to do so if they are able. You may be surprised how generous people are if we give them a chance to be. Start connecting those that can help with those that need help. 2) When showing homes carry multiple pens for your clients to use. Don’t have buyer clients in your car, instead, prepare a list and have them drive separately.  Have the sellers vacate the home while you tour it and don’t touch surfaces while you are there.  Consider disposable gloves.  Carry a box of Kleenex and ask if anyone use it if they need to cough or sneeze. Carry a trash bag to dispose of these and sanitize hands after. 3) Consider upping your Virtual Tour efforts and consider 3D tour companies so buyers can get a feel for the home and narrow down the list of homes they must see in person before going out.  Open houses should not be held until gatherings can be deemed safe again.  Then start again on those immediately using the good sanitizing efforts as you would for showings above. 4) Home inspections should not be attended.  If you are listing a home, we recommend you have a pre-inspection done to provide to the Buyer to limit the number of visits to the home later. By handling this upfront and fixing most items or disclosing them, the entire transaction will be smoother with less people in the house later. 5) Use Video Conferencing for non-essential in-person visits. Buyer Interviews. Listing Presentations. Contract Negotiations. 90% of your conversations can be effectively held using video conferences like Zoom.us and others. 6) Small Sweet Steps.  Every day do something toward moving your business forward.  Make contacts. Do 100% follow-up. Organized your Database into Actives- people who get personal contact from you as needed; Email/Mail Only people; And the rest are “Done”. If you go through your first two categories quickly, run through your Done’s. You’ll find some that can move up in category. There is plenty of work to do. Now is the time to DO it. You will feel better about everything if you are actively working your business. 7) Start a Pipeline Board. This will show you that not only do you have some business that is ready to go now, but what you have scheduled coming up for 60 days+ out. This is re-written quarterly. The sample below is the first 1st of the year. You’ll be working on the 2nd Quarter now and beyond. Each quarter, transfer outstanding to the next board. This is FUN and brings HOPE. 8) If you feel ill for any reason, no matter how minor – stay at home. Get support from others that are feeling well. Someone else in your office or team will cover for your in-person needs if you are ill. This is the time to ASK for support when you need it. 9) Work from home whenever possible.  Sanitize your hands and work surfaces often. 10) Continue to work – people need to buy and sell. They need you to be a calm leader in the midst of a transaction that is increasingly uncertain.  Many agents will push the pause button on their efforts.  This is an opportunity for you to be a voice and example of leadership.  Many of our clients are getting into great conversations with their clients.  They are calling and texting and emailing and asking “how are you doing?” They are offering refinancing information (and referring them to trusted lenders who will call them back). And in some cases offering to shop for those who might be in more danger by going out.   The point is to be that person who cares and offers a calm voice creating the sense that all is well. If you’re looking for other productive uses of your time we would like to offer any of our courses at 50% off (75% off if you’re a client.) Check them out here or at https://www.yourcoachingmatters.com/Courses.  If you sign up for Group coaching at $49 a month we will waive the $50 sign up fee and again, as a client we offer you any course at 75% off for the next 30 days at least. If you want a course and can’t afford it right now, ask us. We will find a way for it to work to take the course now.  Email us for discount code or with any questions at Info@YourCoachingMatters.com