Want to take a lot of listings rapidly?
The trick to do this is by targeting pre-foreclosure properties. There's 2.7 million homes in America today that are in a pre-foreclosure status. That number is so high because a lot of people have applied for a forbearance due to the COVID crisis, the struggling economy, and not being able to make their house payments.
A forbearance is where the lender gives the owner an opportunity to restructure their loan so they can either move or skip payments then make a balloon payment at the end.
But a lot of people are going into default because they're not able to get caught back up.
Here's the latest numbers we found from principal economist, Yanling Mayer from CoreLogic:
39.1% of all forborne loans are now 150 days behind payment. And 25% are 180 days past due.
Now, I don't say this to scare you that we're in 2009 again. The sky is not falling — and there are many differences between the market we were in then...
50% of clients can't remember their agent's name 6 months after closing.
In order to avoid falling into that group, you need a system of steps to follow after closing that captures people for the long haul. In this video, I'm going to explain four strategies to do this and reveal a simple system you can implement today. It's called the "3-7-30-1 System" and it will make it impossible to be forgotten by your clients.
The 3 stands for Day 3 After Closing.
We already know we should provide a closing gift and ask for reviews and recommendations after closing. That's not what we're talking about today. Instead, we're talking about having a follow-up system that makes it impossible to forget you.
So on Day 3, you want to call or text your clients and say, "Hey, I just want to follow up with you since it's been a few days since we closed. Often my clients find that if things are going to go wrong, they go wrong in the first weeks of ownership. Because of...
When's the last time you updated your bio and refreshed your overall brand?
Remember the brand that you are selling is YOU. And you need to refresh your brand at least once a year. You might hate getting your picture taken, but you need a new one every year. And I'm not just talking about a new headshot. You also need to hire a professional photographer to do an entire photo spread for you.
On top of that, you need to update your bio. The best bios that will drive sales your way include the following four things:
Your #1 goal with your bio is to create an emotional connection with people. So that when they read about you, they can easily decide that they want to work with you.
Once you've updated your bio, you have to make sure...
Watch and listen to this podcast featuring Jennifer Seeno Tucker. Jennifer is an Associate Broker & Vice President of Business Development of Exit Realty. She is the co creator of The 7 Saturday’s Training Program and the author of Become A Rockstar Real Estate Agent: 7 Steps to Make $100k A Year.
As a former educator with an advanced degree in curriculum design and instruction, Jennifer is committed to utilizing her background to provide realtors with the necessary tools for support as they transition to a full time real estate agent.
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One question we always receive as REALTORS is - What's going to happen next? What's the crystal ball for where prices are going over the next 12 months?
According to the NAR, Zelman, Realtor.com, Freddie Mac, CoreLogic, Fannie Mae and the Mortgage Bankers Association, the average of all those top industry insiders and economists within those groups, their prediction for the next 12 months is that we're going to see appreciation at 3.9%. You might think that sounds low. After all we just went through a year where we had double digit appreciation and in many markets we saw appreciation as high as 15-16% . Why would this group of economists predict such a low number when most of us would reasonably expect it to be double digits or high single digits (at the very least).
The reason is I think those economists know something - When you have a low supply and high demand, what happens? Prices go up. When supply increases, it puts pressure on...
How do you become your own bank? This is a question answered by our guest Financial Planning Expert Mark Willis. In this session we dive deep into how he and his wife used a simple strategy to not only get out of debt but to completely transform how they purchase big ticket items by becoming their own bank, including real estate. This technique can completely transform how you think about money, investing, and your financial security.
Mark Willis is a man on a mission to help you think differently about your money, your economy and your future. After graduating with six figures of student loan debt and discovering a way to turn his debt into real wealth as he watched everybody lose their retirement savings and home equity in 2008, he knew that he needed to find a more predictable way to meet his financial objectives and those of his clients.
Mark is a CERTIFIED FINANCIAL PLANNER™, a two-time #1 Best Selling Author and the Owner of Lake Growth...
There's something happening with new construction that you need to be aware of, especially if you're targeting builders as a part of your strategy going into the new year. 38.5% of the new construction sales are happening based on the floor-plan alone.
In other words, people are not buying a home, they're buying the home off the plans. They're buying a home based on what they believe to be built.
This is completely different from than where we were a year ago at the same time. At that time, we were 10 points less than that. Inventory has become more constricted and buyers are taking risks. This is an opportunity for all of you watching who are focused on targeting new construction and builders.
What if you approached builders in your market and you said, "Hey, I got some new statistics that blow your mind, 38.5% of new construction sales across the country are being done based on a the floor plans. Do you have any lots in your inventory that you're not...
What are the three biggest reasons why someone would not list their home today? We have a new study that tells us exactly what sellers are thinking, which is what great marketing does. Great marketing answers questions before they're asked.
When you're thinking about your marketing plan, think about the questions and the concerns that you're hearing from sellers today.
The study found that 39% of the time, sellers are anticipating a more favorable sales price if they wait to sell. 34% of respondents said they feel like life is too uncertain to make the change at this point. 31% said they are afraid they won't find or be able to afford a new home.
We need to come up with answers to these concerns so we can form our marketing around them. We also need to be able to answer these questions in the field when they're brought up to us.
So how do you answer the first concern, that they will sell for more later? One response would be to say, "Hey, I...
8.9 Million people in the United States have moved during the pandemic. What's interesting is when you dive deep into those numbers. 85% of those folks have moved outside of Metro markets or moved away from Metro markets. They're moving into suburban and rural markets instead.
According to the United States Postal Service, large cities lost the most people during the first seven months of the pandemic. They're seeing people move out of some of the most populated areas and relocating to the suburbs or rural markets.
Now, what does that mean to us? That means that we have an opportunity. There's a seismic shift happening in the real estate market and the real estate world may never be the same. We should be leveraging this as an opportunity. Maybe one of the biggest opportunities we ever have in our real estate career is happening right now in 2021. The market is shifting.
So how can you leverage this? One way is by focusing yourself around relocation....
Would you buy a house sight unseen? According to a new study done by NAR, 1 in 20 purchases during COVID has been a done by a buyer who did not physically view the home they purchased.
When buyers are looking at homes through the lens of their devices according to the same study the most important digital search preferences are photos, the description, property floor plans, virtual tours, interactive maps, videos, virtual open houses, and virtual listing appointments.
Buyers also looked on average at nine homes over eight weeks. But surprisingly, out of the nine homes they looked at, five were viewed virtually. Yes, today buyers look at a virtual showings as being almost equal to live showings. This shift could fundamentally change how we practice real estate going into the future.
Questions for You:
Can someone virtually tour your listings and would somebody pull the trigger and buy that home based on how good you've done in terms of marketing?
Do you have a virtual home...
Jim would like to talk to you about your real estate business with a complimentary 30 minute coaching session.
During the call be prepared to discuss - Your goals for the next twelve months. Your time management and priority management strategies. Your willingness to change and adapt to a changing market landscape, and your biggest choke points - what's really holding you back
The road to transformation starts with small steps. Take your first towards a better real estate business today...