Hey guys, have you had a chance to talk to your social and sphere audiences about the importance of flood insurance?
This should be a priority, especially with what's happened with Helene and Miltonâitâs on the top of everyone's mind.
Here's something interesting: typical homeownerâs insurance doesnât cover flooding. Since 1996, 99% of counties in the U.S. have experienced some kind of flooding event. Whatâs more, 20% of all flood claims come from homes not in traditional flood zones. And just one inch of flooding in your house can cause at least $25,000 in damage.
Thatâs a huge reason to encourage your clients to get flood insurance.
To help with this, there are a couple of things we can do:
First, partner with a local insurance agent who specializes in flood insurance. We could record a webinar or have them join a live stream to discuss the importance of flood insurance.
Another option is to direct people to the government website, FloodSmart.gov, which has a ton of information...
Hey guys, hereâs something really important:
70% of all the listings in America right now have been on the market for over 30 days, and about 50% have been on for over 60 days.
That should sound some alarm bells if your listings are in that category. One challenge you might be facing is the seller's perception of the market versus the reality.
For the last 10 years, sellers have gotten used to hearing stories of listings getting tons of showings, multiple offers, and selling at or above asking price. But the market is changing. If we look closely at different price categories in the U.S., weâll find that many price bands have shifted into a buyer's market.
A buyer's market means thereâs more than six months of inventory, giving buyers more control and power. Sellers still have leverage in the lower price tiers, but in the upper markets, buyers are gaining more power.
So, what do we do? How do we educate our sellers? The key is understanding the difference between comparable pricin...
Want a stat that'll blow your mind?
The millennial generation is wealthier than my generation and the one before me. They're wealthier than the last two generations at the same age.
You might say, "What? That can't be true."
But it is.
And here's why:
A lot of this has to do with buying a home, and this is great news for us. Many millennials bought homes pre-COVID or at the beginning of COVID, and they had to stretch to do it. We often don't give them enough credit, but a lot of them gave up their lattes and stopped ordering from Instacart and DoorDash. They really stretched and bought a house before or at the start of COVID.
Back then, they thought prices were high and that they were stretching too much. But they made it happen. Then, what happened with prices? Prices skyrocketed during COVID. So now millennials are benefiting from this huge equity build over the last few years. That equity makes them more affluent than the two generations before them.
So why am I bringing this...
Hey guys, you know what everyoneâs starting to get right now?
Their property tax statements.
When people get those statements, they rush to open them and think, "My homeâs worth more than that," or "My propertyâs worth less than that," or something in between.
Hereâs an opportunity for us. Why not reach out to all of your clients, your sphere of influence, and your social audiences with this message:
âHey guys, youâre probably getting your property tax statements around now. If you look at that assessed value and disagree with it, or just want an updated value of your property, give me a quick call or text. I do this as a free service for all my friends and family, just to keep you in touch with your finances and your equity position.â
Thatâs it! Thatâs the messaging. People will absolutely take advantage of this, and it opens the door to conversations.
You might wonder, "Jim, why would I do this if theyâre not interested in selling?" Youâre doing it because friends refer friends...
Hey guys, did you know that only 5% of REALTORS reach out on the one-year home anniversary after selling someone a house?
Isnât that crazy? Just 5%! And even fewer do it for the second, third, fourth, or fifth year.
But if youâre one of the 95% who havenât done this, hereâs your opportunity. Go back â not just this year, but 2, 3, 4, or even 5 years â and load up the contacts youâve forgotten about. Give them a quick call today and say, âHey, I just wanted to wish you a happy belated one-year (or two, three, five-year) anniversary on your home purchase.â
And by the way, take a couple of minutes to run an updated equity analysis for them. Say, âHereâs how much money youâve made on your house in the past few years. Iâm sending you the report so you can check it out.â
If you start doing this every year with all your past clients, your business will boom. This simple gesture can unlock so much potential.
At the end of that conversation, after delivering the home equity update, say thi...
Welcome to the podcast! Today, weâre diving into the insights of Monica, a seasoned entrepreneur and coach with a wealth of experience, training, and strategic know-how. Monica is dedicated to helping experienced real estate agents achieve greater successâearning more in less time, with less stress. Her approach? Itâs all about eliminating the dreaded income roller coaster and building a steady, thriving pipeline. With Monicaâs guidance, youâll not only see consistent growth in your business but also find more time to enjoy the things you love with the people who matter most.
Hey guys, are you afraid of ghosts? A lot of us are, but letâs put aside the spooky ghosts and talk about your business ghosts.
What are business ghosts?
If you dive into your CRM, your phone, or even your social media and see people you donât recognize, you might think, âMaybe I should delete them.â
These are the ghosts in your machineâpeople youâve forgotten. Donât delete them!
Instead, I want you to rekindle that relationship. Hereâs how: reach out via text, phone call, or direct message. Say, âHey, Iâm cleaning up my records and came across your name. Iâm just trying to remember how we connected.â
Theyâll respond with something like, âOh, Jim, we met at an open house,â or âWe met here or there.â Then you can say, âThatâs right! I remember now. How are you guys doing?â
From there, youâll rekindle the relationship. This could lead to a sale, a referral, or even a valuable connection that you would have deleted otherwise.
So, make sure you seek out these ghosts. If you spent on...
Hey guys, what is your power base number? This is an essential number that every REALTOR should know. Your power base number is simply this: if I take my database size â and you should know your database size, whether itâs 195, 232, or 182 â you should know that number. If you donât, youâre not in control of your business (which is a whole other conversation).
Letâs assume you do know it. Letâs say your database size is 232, and you closed 22 transactions last year. If I divide one into the other, 232 divided by 22, it tells me that for every 10.5 people in your database, youâre averaging one closed sale.
Thatâs your power base number.
You can use that number in a few ways. For business planning, you can say, âIn 2025, I donât want to close 22 transactions; I want to close 30." Since you know your power base number (closing one transaction for every 10.5 people), you can calculate that 30 times 10.5 equals 315.
Now, you can say, "I currently have a database of 232, but I need 315 t...
On todayâs podcast, weâre joined by Cole Harvey, a seasoned Real Estate Broker experience in residential sales, investment properties, and luxury estates. As the Broker of Record at Lifetime Realty and Investments, Cole serves all of Southern California, bringing a personal, hands-on approach that has earned him a loyal client base. His expertise extends to distressed properties, Short Sales, and REO transactions, helping clients navigate complex situations. With a background in sales, marketing, and project management in the architecture and construction industries, Coleâs diverse experience makes him a trusted guide in the real estate world. Listen as Cole his best advice to agents and Brokers who would like to grow their business.
Over the course of 6.5 years Dionne Malush and Mike Hanlon have cultivated a thriving team of over 200 agents, fostering an environment of growth, learning, and resilience. Dionne, a graduate of the Art Institute of Pittsburgh, has blended her expertise in graphic design with her real estate acumen to craft a unique and dynamic approach to the industry. Mike transitioned from a decade-long career as a chiropractor to real estate, bringing a fresh perspective on personal fulfillment and financial freedom. Together, Dionne and Mike champion an abundance mindset, learning from mistakes, and continuous improvement. They understand the intricacies of scaling a business, making strategic hires, and aligning team members with the companyâs vision. Their complementary skillsâDionneâs creative marketing strategies and Mikeâs operational expertiseâhave revolutionized how real estate is conducted in their region. Join us for a powerful and fun conversation!
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