Elevate Your Life

05/02/2020

Out of adversity always comes opportunity. Whether you're outside working now or sheltering in place, this is an excellent time to re-position yourself to help the people that will need it when this is over. Take advantage of this time to plan for that, develop your marketing plan, identify your audience, and be ready to help people when this is over. They're counting on you.

04/10/2020

This pandemic, while painful to most people, has brought some positive consequences. People are spending more quality time with their family, getting back to basics, cooking more at home instead of eating out, and learning to be more frugal.
In our business, agents are realizing that they can work from home and can utilize technology to be more efficient.
They're also acting more like business owners...assessing the incoming as well as the outgoing and realizing they've been giving up far more of their commission than they had to.
At the same time they're realizing the "value" they once saw in their current broker is changing. They're not getting what they need AND paying their broker too much of their hard-earned commission.
Our business is ever-changing, especially now. We may never go back to the way it was, so now more than ever it's time to do what's best for you. You need strong technology to make your business more efficient, AND you need new ways to grow your business and your income, AND you need diversification...new revenue streams to hedge against business interruptions, AND you need someone who will help you build wealth for the future, AND most of all you need a coach that understands you are unique and who will help you navigate all this to get what you want.
You want all of this at a great VALUE.

It's here...

The industry is changing… Real estate is a rapidly changing industry. You need to be re-positioning yourself, finding new ways to actively grow your business, adding additional revenue streams to your model, and seeking new ways to stay relevant in the eyes of your client. We’re helping our age...

03/31/2020

If you're in a location that prohibits you from practicing, or you prefer not to be out and about right now, take the opportunity to enhance your skill sets in order to add value to your service and diversify your income. Our industry offers the ability to develop numerous income streams. Add a designation, become a Broker, learn more about investing, become a notary, learn more about property management, develop your skills in commercial brokerage or lending. Seize this opportunity, for once we return to the new normal, you'll wish you had this time back.

03/26/2020

These are unique times for everyone...I hope this blog post I wrote this morning will help some of you.

THE 2020 COVID-19 PANDEMIC Staying productive during the isolation period and thriving during the aftermath March 26 2020 Curt Green Leave a comment General 7 Habits to incorporate into your daily routine Written by Curt Green   Some of us, present company included, have lived through some life-alt...

03/23/2020

While I do realize the anxiety created by this "new normal" and by the restrictions placed on our business may seem daunting to some, it's important to remember a few things:

*first and foremost, you're a professional.
*this will be over, and likely soon.
*people who didn't need your help before this will likely need it now...anticipate their needs and be there for them.
*many resources will soon be available for your clients, show yourself as a resource to help them find the help they need.
*like all major shifts, this one will present new opportunities for those who adapt.

Now is not the time to be caught up in anxiety or self pity, but to rise above it and be there for the people who will need you...and they will.

03/19/2020

Many of you will have clients calling to ask about interest rates...this should help you provide good answers to their questions.

It's bad news for savers, better news for borrowers.

03/17/2020

Is your cash offer really a cash offer?
It's volatile times like these that remind us of some very simple truths that we may have otherwise forgotten...let's explore.
You represent a Seller and have received a "cash offer" from another agent, along with a POF that shows enough funds to close the deal. Sure, you glance at the number, but do you pay attention to where the funds are located?
Let's say in this case the POF was a 401k statement and a stock brokerage account that when combined, covered the offer amount.
if the stock market drops 23% in a matter of days, as it just did, do you still have a cash offer? You may no longer have a buyer at all. That buyer tendered a "cash" offer, relying at the time on those funds being available, and now 1/4 of it is gone.
Chances are that deal just fell apart.

A couple of best practices to protect your seller in a case like this...
*require a larger deposit. (5% minimum)
*require a secondary deposit once the contingencies are removed (if it's a cash offer, there should only be inspection related ones)--10% more is not unreasonable.
*limit the inspection period to 7-10 days.

If they're a serious buyer, and they've had reasonable time to complete due diligence, it's time to put up or shut up.
Most importantly, you've served your client well.

03/13/2020

As more disruption occurs in our industry, it becomes a necessity, for those who want to thrive, to diversify and add income streams to your model. Those who adapt will thrive. You have a license that provides opportunities of great depth and breadth...limiting yourself to one will make your life very difficult. Add expertise, which adds value to your service, and become someone that commands attention. You deserve it.

03/10/2020

Are you a realtor or a consultant? A true consultant is well educated and positioned to advise on many fronts. He/she also provides such valuable information whether a pay day is imminent or not, because a true consultant understands the trust and loyalty earned will produce well beyond what one commission will provide.
Be a consultant. If you're good enough at it, people will actually pay you for your advice...but first you must prove to them that what you offer has value.

03/07/2020

Here's an interesting exercise for you. Pull out your profit and loss statement from 2019 (hopefully you have one). Drop down to the line that has "broker expense." Ask your self the following questions?
1. Considering what you paid your broker, do you feel it represents a "good value" to your business, regardless of the number?
2. if you moved to a Broker that charged LESS, could you expect a greater value than what you have today?
3. If you moved to a Broker that charged you MORE, could you expect a greater value than what you have today?

At the end of the day, month, and year...it's YOUR business. There is no "one size fits all" broker or coach...everyone needs something different in order to thrive. The question is, does your current Broker not only recognize what you need, but also deliver it to you?
If not, you have some decisions to make.

Your Broker should view your success as tied to his/hers...they both come from the same palce.

03/05/2020

The first quarter is essentially over. If it's not in escrow now, barring few exceptions, your Q1 is in the books.

What's your run rate for the year?
What adjustments will you make to hit your goals?
Do you have everything you need to get there?

02/22/2020

Why it doesn’t matter what your “split” is.
It only matters what you get in return…
and the results it produces.

John is an agent with a "hands-on" Broker.
John receives the best technology, free leads, coaching, investment training, and the benefit of additional revenue streams to supplement his income. John’s Broker is helping him build a team that delivers predictable and sustainable income, while helping his teammates grow their income.

John’s 2019 looked like this:

Personal sales: 6,600,000 (22 closed sides)
Team sales (3 agents): 14,400,000 (48 closed sides)
Franchise fees: (paid by Broker)
E/O expense: (paid by Broker)
Website and IDX fees: (paid by Broker)
John’s split: 90/10
John’s personal earnings: 148,500
John’s share of team’s earnings: 144,000
John’s earnings: 292,500
**John also earned an additional 22,000 via additional revenue streams, and purchased three Investment properties for himself.

***********************************************************************

Mary is an agent with a company that offers
“100% commission” but takes a 499.00 flat fee, plus some small miscellaneous expenses.

Mary receives some basic technology but receives very little in the way of leads or coaching. Mary also has no access to additional revenue streams, or any training to help her generate her own leads. Mary also has received no training on leverage, or how to build a team. Mary’s Broker isn’t really paying attention to what Mary is doing.

While Mary keeps more of each commission than John, here is how her 2019 looked:

Personal sales: 1,800,000 (6 closed sides)
Team sales (0 agents): 0
Franchise fees: No franchise fees
E/O expense: 45/transaction
Website and IDX fees: 50/transaction
Mary’s split: 100%, subject to the 499 flat fee and other fees
Mary’s personal earnings: 41,600
Mary’s share of team’s earnings: 0
Mary’s additional earnings: 0
Mary purchased no investment properties and cannot afford to save for retirement.

Your Broker expense should be treated like any other expense in your business.
You wouldn't pay thousands of dollars to a marketing company if you weren't getting anything in return, would you?
Your Broker expense is no different.
It should be more about VALUE…what you RECEIVE for the money you pay.

John pays more to his Broker on each transaction, but his Broker has delivered a substantial value, which in this case could be measured by the difference in his bottom line vs. Mary’s bottom line.
In this scenario, John could have even been on a much lower split and still earned more than Mary.

$292,500 and three investment properties, OR $41,600…it's your choice.
Two agents with the same potential.
The difference? Systems, coaching, and support provided by the Broker, all at a great value.

The ONLY number that matters is the one you take home to your family. Period.

STOP STEPPING OVER DOLLARS TO PICK UP NICKELS…

1. Is your Broker offering you the best technology available?
2. Is your Broker committed to helping you grow YOUR business?
3. Is your Broker teaching you how to leverage your skills through developing others?
4. Is your Broker teaching you investment strategies that add value to your service?
5. Is your Broker helping you prepare for the future?

If not, you need a new Broker.
Coincidentally, we need great agents who WANT MORE.
We should probably meet, huh?