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Eviction Moratoriums - How to Help Nervous Investors

 
Now is the time to reach out to all investors as this could be a turning point for them to either double down and buy more rental units or to seek to liquidate their holdings. In addition you can give them guidance on talking to their lenders to request forbearance or a loan modification. 
 
Call to Investors in Your Database - Today!
 
“How are you dealing with the eviction moratorium? Are you getting any feedback from renters? One thing I am recommending to all of my clients is to talk to your lender immediately – even if you don’t need it now you might lender. Ask them about forbearance or a loan modification – some lenders are allowing investors to skip payments or do interest only payments. So one thing we are seeing is some more units coming to market… so if you know anyone that want’s to hop on some good buys now could be a great time.”
 
 
Reach out to Investors
 
Hello, I was calling about the rental...
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Three Checklists to Help Clients Going Stir Crazy at Home

 

Are you going stir crazy yet? 

Only a couple weeks into a shelter in place order and many of your clients will be going a bit stir crazy. How can you help? First reach out and connect. In a new study from AT&T over three weeks in March just as the coronavirus began to deeply impact the United States: 

  • Voice calls: +33%
  • Instant messaging: +63%
  • Text messaging: +41%
  • Emailing: -18%
  • Web browsing: -5%
  • Video: +4% (also accounts for over half of all mobility traffic)

Clients want to connect and they are more open than ever from hearing from you. But what do you say? Try this script:

Just checking in on you guys, are you going stir crazy yet? At my house we are <talk about your household activities>…one thing we are doing more than ever is household projects. We found a few checklists that we are working through one is for spring cleaning and another is for household maintenance…if you want a copy, I will shoot you a copy...

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Ramping Up Your Video Game with Video Walk-Through's

 

Now more than ever video is a key ingredient in successfully marketing a home. Have a strong video strategy is the key to providing both buyers and sellers want - the ease, convenience, and safety of viewing homes virtually. 

How good is your video game today? 

Watch as two video experts Ryan Wilkerson and Jon Reinhart share their in-depth knowledge of how to create stunning video walk-through's using technology that is easily accessible to every agent. 


Do you need more leads, more listings, more buyers, and more closings? 


About Jim Remley

Jim Remley is a nationally recognized expert in the field of residential real estate. Entering the real estate industry at the age of 19 he began an unlikely rise from...

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Success Story: Showing Homes Virtually Using WhatsApp

 
Have you started showing homes virtually to your clients?
 
Virtual showings can help sellers and buyers feel more comfortable with the selling process during the Covid-19 outbreak. Watch and learn how superstar REALTOR Cindy Williams used a virtual showing to put her clients into contract.  
 
You can do the same using systems like:

Now is the time to embrace video as a part of your process and help your clients continue on their real estate journey. 

 

Do you need more leads, more listings, more buyers, and more closings? 


About Jim Remley

Jim Remley is a nationally recognized expert in the...

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The Fight, Flight, or Freeze Crisis Response

Uncategorized
 

How do you respond to a crisis?

This is a critical question as we grapple with the Coronavirus and it's impact on the real estate market. Many studies have determined that we generally fall into one of three categories during a crisis: 

Fight: Dig in and work the problem, solution focused
Flight: Exit the situation, quit, throw in the towel, problem focused
Freeze: Do nothing, panic, over analyze, obsess, problem focused
 
A classic example of someone who is a fighter is Chesley Sullenberger,  or as the world has come to know him Captain Sully. Captain Sully had been a commercial pilot for 29 years before a plane he was flying out of LaGuardia Airport struck a flock of geese, damaging the plane's engines. He turned the aircraft around and ditched it in the Hudson River, saving all 155 people aboard and becoming a national hero and instant celebrity. The entire event lasted 208 seconds. 
 
How do you remain calm during a crisis? Intensive training...
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Showings and Open Houses During the Coronavirus Crisis

 

How do we make sellers and buyers feel more comfortable about entering and viewing homes during the coronavirus outbreak?

One way is by providing clear guidelines of what buyers and selling agents should do when they enter a home, and what sellers should do after each showing. For instance some agents are using a flyer posted on the door of their listing or in the entry way that clearly spells out showing instructions. (Some agents are also adding this language to their MLS remarks with Broker Approval)

Some sample language:

  • Selling brokers and buyers should wash their hands upon entering our home or use hand sanitizer prior to entering the house.
  • Selling brokers and buyers should refrain from touching counter tops, surfaces or door knobs in the home.
  • Listing brokers or sellers should wipe down all surfaces in the home after the buyer exits. 

For agents and sellers that choose to do an Open House you may want to consider the following safety tips. In addition many agents are...

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Stock Market Crashing? 7 Reasons Why Real Estate is a Safe, Stable, and Secure Investment

 

When the stock market is in turmoil it's a good time to connect with clients and remind them why buying residential rental real estate is such a safe, stable, and secure investment.

Here are 7 Reasons Why Real Estate is a Great Investment: 

1) Appreciation - The market has returned to a healthy, stable, and predictable 4-5% appreciation. Rental properties go up in value as rental prices rise.  With high demand and low vacancy rents have been rising steadily for several years. In addition the job market and the maturing millennial generation are creating thousands of new households each month. 

2) Depreciation - The IRS allow rental owners to "write down" a portion of the value of their rental investment over a period of time. This allow rental owners to offset some of their annual gains which can increase their ability to shelter income. Always refer your clients to a qualified CPA for guidance. 

3) Sweat Equity - When rental owners make improvements to their...

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5 Scripts for Dealing with the Coronavirus

 

The coronavirus is on everyone's mind so it's important to be able to address your clients concerns, stay positive, and help clients make good long term decisions.

Here are a few scripts that might help you along the way:

Sphere Script:

"The thing on everyone’s mind is the coronavirus….it’s scary no doubt but despite the up’s and down of the stock market – the real estate market is strong. In fact it’s incredibly healthy, back in 2008 there were 11 months of inventory, today in our market (quote local stats), in 2008 there were subprime loans that had created unsustainable gains and double digit appreciation, today loan standards are still very tight and interest rates are at 40 year lows, plus appreciation rates have normalized to <quote local market> … in 2008 we had people losing their jobs and unemployment that was over 10% – last month the economy added 273,000 new jobs and the unemployment rate is 3.5% the lowest in 50...

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The Power of Demand Based Pricing

 

Have we hit a hard ceiling on pricing in the country?

According to a recent study the number of homes receiving over full price has fallen dramatically. In addition the appreciation rate has slowed to 3-4% in many areas of the country. Here are some numbers that provide some insight:

  • The share of U.S. homes that sold for more than their list price in 2019 fell to 19.9%, the lowest annually since 2016.
  • Homes that sold above list last year typically brought in $5,100 more than the asking price, down from $5,500 the year before.

Even with record low inventory and strong demand buyers are now resisting higher prices. Why? One reason is income, over the past twenty years incomes have been relatively stable with very little growth. 

So how can we help sellers navigate the changing market landscape? One way is to explain demand based pricing. Watch the video to learn how identifying and explaining buyer demand to a seller can help them position their home to attract more showings...

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10 Reasons to Use Video Today!

 

We have all heard from numerous channels that video will be the key differentiation tool for top real estate pros over the coming years.

But numbers just released by the KCM blog provide some staggering insight into just how fast this transition is occurring and why embracing video as a key part of your marketing strategy is so important.

  • 93% of brands got a new customer because of a video on social media.
  • 87% of businesses now use video as a marketing tool.
  • Youtube is the #1 way consumers discover and research a brand.
  • A Facebook executive predicted that their platform will be all video and no text by 2021.
  • Social video gets shared 1200% more than text and images combined.
  • 81% of marketers say video has helped them generate leads.
  • Video ads were the #1 way consumers discovered a brand they later purchased from.
  • By 2022, online videos will make up more than 82% of all consumer internet traffic.
  • Homes listed with video get four times the inquiries of homes listed without video.
  • 72%...
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