So one question that you might be getting occasionally from buyers is "I'm going to wait until we see a lot more foreclosures hitting the market...I know they're coming."
A couple of stats that has been recently reported in thew news is that 12% of mortgages across the country had recently been delinquent. Buyers see the headline and naturally assume we are heading back to a 2009 kind of market cycle where there's going to be a ton of foreclosures.
That's not true. Why? Because this is a completely different market environment.
The first reason reasons we won't see a massive surge in foreclosures is because of the CARES Act, which was created in response to the COVID pandemic. The CARES Act includes a provision which forces lenders to offer forbearance to people that are in financial trouble. Forbearance allows borrowers to skips payments for a period of time or pay interest only payments. It started with a 180 days and it's now been extended for another 180 days. So a total...
How do you engage your sphere of influence in a unique way this week?
Try using an audio clip from Facebook Messenger. Audio clips can provide an easy way to record a personalized message that will engage your sphere of influence. Yes, calling and texting are always our number one and two methods of communication but an audio clip can be something new, fresh, and exciting.
The advantage to a clip is the ability to send multiple messages quickly. Imagine touching a hundred of your clients with a personal message that will be heard within just a few hours!
Need an idea on what to say? Try this script: “Hey (contact name) just wanted to reach out and let you know that I am now accepting new listing appointments – we are in a super low inventory market, almost sold out in some price categories – so if you hear of anyone making a change I would love to help and if I can help you with anything, please give me call!
So you wrote an offer and it failed, now what?
For most agents this is the end of the line but for savvy agents this is an opportunity to be placed into a back up position.
While we all prefer to be in 'First Position' in a hyper competitive market agreeing to be 2nd position can provide your buyer with an opportunity that could be easily missed by other agents.
During our current Covid-19 market we are still seeing an elevated number of contract failures, those failures can be create the opening for you buyer to quickly move into first position but only if you have coached your buyer correctly!
Watch this quick video for tips!
Check out the Webinar: 10 Ways to Win in a Multiple Offer Situation
Looking for a way to build your social media presence, add visitors to your website, drive buyer and seller leads, or connect with your sphere of influence?
Check out this quick coaching segment on creating Facebook Ads featuring marketing expert Jon Reinhart and Jim Remley.
To watch the whole coaching video and take advantage of 14 Days of FREE Coaching explore the Path Performance Coaching Platform!
Now that we have arrived in July it's time to do a six month review of your performance. By reviewing your numbers you can get a clear picture of your businesses trajectory.
This simple exercise can identify what's working, what isn't' working, and where to adjust your strategy. Your mid year results are the culmination of all of your time, work, and marketing investments, it is also reflection of your follow up skills, your presentation materials, and your ability to stay consistent.
Watch this video for a complete breakdown of how to conduct your mid year review!
Is Facebook quietly rolling out hashtags?
According to marketing experts the answer is yes. Facebook owns Instagram which has long used hashtags as a marketing tool. Not only can you attach hashtags to your posts, you can search, and even follow hashtags on Instagram. It appears that Facebook may be implementing a similar strategy.
It wouldn't be the fist time Facebook has followed Instagram.
The best example may be the roll out of Facebook Stories which has quickly become a game changer for social media content.
Check out this quick video to learn more and discover how you may be able to use the quiet roll out to your advantage!
According to the Mortgage Bankers Association 12% of Mortgages were not paid on time in the month of May and this number is likely to rise during Covid-19.
When a borrower has missed more than one house payment their lender will at some point send a Notice of Default to them. This is a notification that the lender is beginning a foreclosure process. This process takes several months to complete depending on the type of loan instrument that was used, the state and local rules regarding foreclosure, and the lenders backlog of other foreclosures.
During this time the borrower can always make their payments and pay the penalties to avoid losing the property and, of course, lenders always prefer that the delinquent account be reinstated rather than take the property in foreclosure.
There are many reasons for a homeowner not to make their mortgage payment including job loss, illness, divorce, or a death in the family. When an event or a series of events prevents the homeowner from making...
Have you replaced your business cards with a virtual business card yet?
Watch this quick video on the benefits of using a V-Card as a part of your "new" normal. In today's world we may not have an opportunity to physically meet a client until much later in the relationship. By using a V-Card you can share you contact data quickly and easily.
The advantages of using a V-Card (even without Coid-19) as a key part of your marketing plan are incredible check out these quick advantages:
Targeting existing homes near new construction sites as a real estate professional can lead to more listings and more sales. If you have ever lived in a neighborhood near a new construction site it can often be frustrating.
Trucks up and down the street, hammers, drills, and saws starting up at 8:00 AM or earlier. It a word it's a nuisance, and when a homeowner has something that is irritating then about their neighborhood they may be more likely to sell.
Check out this quick video for some tips on targeting existing homes around new construction sites and then try this script in your market:
“Good Morning is this (seller name)? (Pause) this is (your name) over at (company name) how are you today? Listen I know you are probably busy but I have one quick question I noticed driving by your home that you have some new construction happening (across street, next door) how do you feel about those hammers at 8:00AM? I understand – have you ever thought of moving? The...
Every year, Gallup conducts a survey of Americans to determine their choice for the best long-term investment. Respondents are asked to select real estate, stocks/mutual funds, gold, savings accounts/CDs, or bonds.
For the seventh year in a row, real estate has come out on top as the best long-term investment.
Gallup explained: “Real estate remains the most favored investment to Americans, as has been the case since 2013, when the housing market was on the rebound. More than a third of Americans have named real estate as the top investment since 2016.”
This year’s results indicated 35% of Americans chose real estate, followed by stocks at 21%.
Check out this video for post/message to share with your sphere of influence, social audience, or farm area.
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