Category Archives: REALTORS
Those who consistently make money in real estate know the market. They know the location and the history. They know what new developments are planned. They know the transportation and the schools. They know everything about the area where they invest. They have to know it all.
Staying ahead of the competition in real estate investment means doing your homework. If you are new to the business, it can be daunting, but in this article we’ll teach you six tricks that the old pros use to get ahead of the trends instead of chasing them.
- Study Local Pricing
The first things to study are the current price trends in the area. For example, a potential investor should look to see if the price of homes is accelerating faster in one area than in others. Next, check to see if the average home price is more than in other neighboring towns. This will provide an idea of where the biggest demand is. Another reason to study these trends is that, over time, you will start to develop a sense for which prices are “fair” for certain properties and which are overpriced. For individuals looking to buy properties at the lowest cost possible, this knowledge can be invaluable.
Realtors and real estate agents are a terrific source for this information given their access to the Multiple Listing Service (or MLS). The local newspaper, the internet, and the town hall may have a record of recent sale prices as well.
- Get Pre-approved for a Mortgage
There is a host of benefits you can enjoy by getting pre-approved for a mortgage. Chief among them are financial benefits. For example, most lenders will lock in an interest rate for you once you are pre-approved for a mortgage. This let’s you enjoy the benefits of a lower interest rate if interest rates rise while you’re house hunting. Further, if you are able to be pre-approved for a mortgage prior to finding your dream home then you become a preferred buyer in the eyes of the seller because you’ve demonstrated you have serious financial backing.
- Look for a Catalyst
One sign that an area is up-and-coming and that it will be desirable in the future is the development of new infrastructure. When you see new roads and schools being built, it’s a sign that the community is set for a growth spurt. Investing in a growing community can be very profitable. In addition, certain types of development, like new shopping centers, may be extremely attractive to homebuyers, and may also help keep the tax base low.
Spotting new developments can be as easy as looking out your car window as you drive by. Telltale signs of land clearing, surveying or the beginnings of construction in and around major roadways are pretty big tip-offs. Also, look for widening of traffic lanes, the installation of turnaround lanes and the erection of new traffic lights. All suggest the possibility of increased traffic flow.
Next, visit town hall at the municipality or the county level, and speak with the road and the building departments. They should be aware of any major projects slated to begin in the area, and they may even be able to provide you with a connection at the state level so you can find out if any state-owned roads or properties are slated for development as well. Real estate agents also have a general idea of what new projects are about to be undertaken. (For added insight, see Profit With Real Estate Land Speculation.)
- Explore Low-Tax Alternatives
If there are two towns side by side – one with high property taxes (or with progressively rising property taxes) and the other with low property taxes – the one with the lower taxes will usually be more in demand.
Real estate agents can help you determine which areas have the best and worst tax structures. In addition, a simple call to the local tax assessor can reveal how much the town charges in taxes per $100 of house. The assessor can also let you know when the last time the area was evaluated by the township. Also watch to see if a reassessment is set to take place in the near future, as it may mean that property taxes are about to go up. Beware of towns and communities that are becoming overcrowded. Signs include schools filled to capacity and inferior roadways. This could mean the town will have to do some major construction to accommodate the influx of people. And how do they pay for that construction? Tax dollars. (For more on property tax, see Five Tricks For Lowering Your Property Tax and Tax Tips For The Individual Investor.)
- Check the School Rankings
Nearly every state ranks its schools by how well students in each district fare on tests in math and English. Sharp-eyed investors should look for schools that are moving up or are atop the list. These areas are often desirable to parents. Access to quality education is a big selling point to new home buyers.
There are several ways to find this information. Check our your state’s board of education website. Also, PSK12.com has public school rankings for most states in its free section. Visiting the schools yourself is also a good idea. Schools that rank the highest are usually quite eager to provide information.
- Watch the Outskirts
If the properties in a major city or town have become overpriced, the areas on the outer fringes most likely will soon be in demand. Areas in close to major bus and rail transportation are even more desirable Nearly any area that is about to install a major train stop or a new major bus route will see its proverbial stock go up in value.
To find out what’s planned, you can check with the local railroad or bus company to see if they will be expanding service in the area. The local town hall or planning department will also have this information.
The Bottom Line
It pays to do your homework and to tap local resources to determine which areas are hot now and, more importantly, which ones will be hot in the future. Much of the information is out there and free for the taking. You just have to be willing to do the leg work. Source: Investopedia.com By Glenn Curtis
Your Loan in the Valley
Después de un 2016 lleno de éxitos, es hora de agradecer a tus clientes por haber puesto su confianza en tu servicio.
No olvides enviar algún detalle a tu base de datos y en especial a tus clientes. Esta es una necesidad por llenar entre el agente de bienes raíces y el comprador donde puedes mostrar tu aprecio y hasta ganar nuevos o futuros negocios.
Esta es una lista de los regalos que podrías enviar.
– Una cena.
– Cestas de regalo.
– Placas de agradecimiento.
– Tickets para un evento.
– Gift cards.
– Un pavo.
– Regalos para los niños (si los tienen).
– Una alfombra para la entrada.
* Cualquiera sea el regalo que seleccionaste, no olvides agregar una tarjeta o postcard tuya con un mensaje escrito a mano.
Your Loan in the Valley
Most salespeople suffer from it in one form or another. In it’s worst state, it turns perfectly good salespeople into a state of self-doubt.
Let’s look at 9 things you can do now to overcome sales prospecting anxiety.
- Set goals you can achieve. Don’t set sky high goals. Set ones you know you can accomplish. It might be as small as saying you’re going to make 2 phones calls today. Set what is comfortable for you!
- Share with other people things you know will help them. Make a list of all the ways you help the people you’re to be selling to. Keep the list with you at all time.
- Make your first prospecting phone call each day to an existing customer. Use the existing customer to get you excited because they will share with you why they appreciated having the opportunity to buy from you.
- View each contact as an opportunity to build a relationship. Your objective is to gain a new piece of information from them that will earn you the ability to contact them again.
- Think long-term. Don’t expect results to happen quickly unless you are selling something that truly does have a very short sales purchase cycle.
- Don’t sweat rejection. Professional baseball players make millions even when they strike out 2 out of 3 times. Remember, to be successful you only have to be able to sell to a small portion of the people with whom you come in contact.
- Celebrate your success each day and use it to plan the next day. Regardless of how you may feel nothing may have happened, always end the day celebrating something you did and use it to help set up the next day.
- Schedule a specific time each day for you to be prospecting. Don’t let anything get in the way. Make it and keep it! Don’t use the time to prepare to prospect. Use it to actually prospect!
- Don’t hangout with losers. Too many times we get down on ourselves because we’re hanging out with others who are down on themselves. If you want to be successful, you need to hang out with successful people. Source: thesaleshunter.com by Mark Hunter.
Your Loan in the Valley
Here are four tips for increasing your annual income over the next 12 months:
First, have a plan. If you were driving across the United States to visit a friend who lived somewhere you had never been, chances are you would look up directions on how to get to your friend’s city, specifically the home address. Without a map or GPS device in your vehicle, it may be difficult to navigate.
Unfortunately, many real estate pros enter the business with no plan. Worst yet, most experienced practitioners we know have no plan! After investing hundreds (and sometimes thousands) of dollars, valuable time, and a grueling examination, many new recruits end up with a real estate firm that has no plan for the next 30, 60, or 90 days.
A business plan is essential in real estate. Without a solid plan, you’ll probably end up spinning your wheels.
Here are a few things your business plan should address:
What is your monthly budget? How much money do you need to earn to pay your expenses each month?
Who and what is your competition, and how do you plan to differentiate yourself from your competitors in your marketplace?
Take time to perform a SWOT (strengths, weaknesses, opportunities, and threats) analysis: What are your strengths and weaknesses? What new opportunities can you capitalize on during the coming months, and more specifically, what threats might you need to plan for? This is an excellent way to help you build an essential game plan, gain vision, and accomplish your mission.
What are your goals for the next 30 days, six months, and full year from your start date or from the date of your business plan? Make sure your goals are measurable. Though your goals should be challenging, don’t make them too difficult to reach.
Do you have a vision statement for your business? Where do you see yourself in the next year as a real estate professional? If we asked you to look into the future, where do you want to be in three years in the real estate industry?
Do you have “action plans” in place for your real estate business? In other words, what programs do you have ready to implement when you begin to meet new customers, enter into contractual agreements with clients, and more? Top agents have a systematic plan of action for every facet of their business. If you have not taken the time to develop a detailed plan of action for each area of your business, then do it today.
When building your action plan, use an outline and list all the items that you plan to do for each new listing you take. One good way to build action plans is to copy or print out three or four calendar pages and determine when and how often you would like to communicate with your clients. What marketing endeavors do you need to implement over the course of the agreement? Just as you need a “business plan” for your business, each new listing and every new buyer you take on needs a separate business plan.
Work Your Sphere
According to the National Association of REALTORS® 2010 Profile of Home Buyers and Sellers, 57 percent of first-time home buyers found their real estate agent through the recommendation of a friend, family member, or coworker. Thirty-nine percent of all buyers and sellers said they found their agent through this process.
If this data does not reinforce the fact that you need friends and family members recommending your services, then please reread those statistics above. Working your sphere of influence is one of the best things a real estate pro can do regularly. Send cards and letters each month, make phone calls, and, if the opportunity arises, stop by and make a personal visit.
If we asked when you last went out and canvased a neighborhood handing out cards or providing information about your real estate services, what would your answer be? How many for-sale-by-owners have you visited or sent letters to in the last 30 days? Whatever method you prefer regarding prospecting as a real estate professional, it should be one of your most important daily tasks.
Prospecting is the lifeblood of a successful sales career: Without new business, you’ll eventually go out of business. Make it a point to set goals on what types of prospecting you’ll do for the day, week, or month. Keep track of your schedule and determine where you’re wasting time, and make any necessary changes to accomplish your prospecting goals. Also, be sure to write your prospecting goals down where you can see them and be reminded of your tasks at hand.
Finally, don’t get discouraged or have a pity party if things aren’t going as planned. Difficult days and trying times will affect everyone. Even when you have a map or printed directions, wrong turns, bad decisions, and other factors can cause you to get off course.
However, the key to increasing your income as a real estate professional is to remain diligent and do the right things. When you have a solid written business plan, set goals, prospect daily, and have a good attitude, you’re sure to succeed. Remember what author E.D. Martin said, “It is easier to believe than to doubt.” Source: Realtor.com
Your Loan in the Valley
- Show gratitude. Recognizing others for their contribution to your own success or that of the team is a powerful resource builder. Routinely expressing gratitude can set a powerful and positive tone of deep respect among co-workers. Remember two simple words—”thank you”—can have a long-standing effect on work-life happiness.
- Focus on strengths. Utilizing our talents in the workplace is a key confidence builder. Make every attempt to incorporate the areas in which you excel into everyday work life. If you supervise others, help facilitate this process for them as well.
- Balance negatives. As human beings, we have the tendency to dwell on negative information (quite possibly an evolutionary byproduct). Often we find ourselves obsessing about a goal we didn’t fulfill—or a perceived slight in a meeting. Build your inner resilience by refocusing your energy on successes when you are faced with disappointment or stress.
- Practice “flexible” thinking. When considering a new challenge, be sure to explore numerous potential obstacles and generate alternative pathways to effectively manage them. This exercise builds feelings of hopefulness in the face of an unexpected turn of events—a common occurrence.
- Acknowledge steps to success. Often we focus on lofty, larger goals that may take an extended amount of time to accomplish. Identify and celebrate incremental goals along the way to help bolster energy levels and maintain focus.
- Support your team. If you manage others, ensure that you are communicating your confidence in their abilities. Does your team understand that you truly believe in them? Remember, others can detect a subtle tone of negativity. If you have doubts, search for the source of your concern and help your team develop to meet the challenge. Source: usnews.com by Dr. Maria Gottschalk
Your Loan in the Valley
It puzzles me that the majority of businesses try to take potential customers from “nice to meet you” to “let’s get married” in the space of a couple of web pages, rather than taking the long view with email. Web pages are very weak for filling in the meat of the selling process, no matter how good you are at copywriting (and let’s face it—few of us are that good). But they are great for starting that process by capturing an email address—and for finishing it by providing an easy-to-use mechanism for payment. But even a half-competent copy monkey using email over the course of weeks can blow away the best A-level copywriter’s sales page, which has to sell then and there.
With email you can ask all kinds of questions using quick surveys, and deal with all the angles or reasons people might buy, without having to sound like you’re assuming anything about any particular person. If you’re cunning, you can even use systems like Office Autopilot or InfusionSoft to email people based on where they are in the buying process, what the most important benefit is to them, and so on.
That’s just impossible to do in a single web page.
Furthermore, email, by its very nature, lets you do this gently, gradually, without pressure—either for your prospect, or for you. And this is really important, because as I’ve said, when you feel pressured you automatically respond by trying to control the wrong outcomes (point #1). Email gives you lots of little chances to tell your prospect how to get what he wants, instead of one big chance you’re afraid of blowing.
Plus, because it is a highly personal medium, you give your prospect the reassurance he can reply and talk to you directly if he’d like.
All this combines to make a perfect environment for getting more sales. In fact, using email is perhaps the perfect way to sell. It removes the appearance of selling entirely, and replaces it with an ongoing conversation, where you simply keep telling your prospect how to get what he wants.
How well are you implementing the points above? Have you found any places you can use them in your existing processes? Are you using email to sell—or thinking about it? Share your experience in the comments below. Source: blog.kissmetrics.com by Bnonn
Your Loan in the Valley
1. Ponte en lugar del cliente.
Cada cliente es un mundo, por lo que no podemos utilizar siempre las mismas tácticas de venta para satisfacer las expectativas de todos nuestros consumidores. Con cada cliente debemos adoptar una postura particular, “hablar su idioma”, y ponernos en sus zapatos. El objetivo es ofrecer una experiencia diferente con nuestros productos o servicios para cada cliente, establecer un contacto directo (vía mail, teléfono o personalmente) que les brinde seguridad al saber que como proveedor tus eres accesible y estás disponible para ellos. Recuerda, la negociación debe ser una experiencia!
2. Haz las preguntas correctas
Este es uno de los secretos centrales para triunfar en ventas. Al comenzar la conversación y al cerrarla, las preguntas son las que definirán el rumbo de la negociación.
Una buena idea para abrir la charla es preguntarle al potencial cliente “¿por qué aceptó esta reunión?” Probablemente te comente algunas experiencias anteriores, de las cuales podrás sacar provecho conociendo aciertos y errores de tus antecesores. Escuchando demostramos interés, a la vez que obtenemos información y abrimos el canal de comunicación para luego exponer nuestras propuestas.
3. Mejora la forma de venderte online
Por más que tu web no necesite un “carrito de compras”, la exposición de tu marca en Internet puede ser el primer contacto de muchos clientes potenciales con tu empresa. Entonces, ¿por qué no incluir en nuestra estrategia de ventas el marketing online?
Actualiza tu web y tus redes sociales. Mantener informado a tus clientes es central para que ellos sientan que tu empresa no se estanca. Puedes hacer actualizaciones semanales, enviar newsletters o realizar pequeñas noticias mensuales en la portada de tu página web. Source: desafiojoven.com.ar
Your Loan in the Valley
Rule 1: Be systematic, unemotional and diversified
This is the very first rule we touch on right from the beginning. There’s a popular bumper sticker that says, “I’m spending my grandkids’ inheritance.”
That whole idea just frustrates me. In some ways, our society’s personality is such that if we can spend our money before we die, we’ve lived a great life. But you can’t do that.
Rule 2: Never spend principal
That’s the second rule. Inflation has gone above 10 per cent in the US economy five times, and I’d bet you it will happen again.
Rule 3: Never borrow money to buy a depreciating asset
Almost everybody does this at some point. But as soon as possible, and definitely by retirement, you have to get back to a cash basis.
How many people know what a $30,000 car bought on credit costs them at age 25? In retirement dollars, at age 65 and assuming a hypothetical 10 per cent return, that financed car could cost as much as $11,314 a month in potential income. Forever!
So, do you or your children understand what an “investment” in a car really costs you? Yes, I know we all buy cars. But try to imagine what would happen if I got every 25-year-old to forgo just one car purchase and invest that same amount of money in their long-term retirement goals. What a huge difference that could make to their choices at retirement!
Rule 4: Never save money in a spending account
Keep separate bank accounts for saving and spending. You have to save in savings accounts. If you truly want those savings to grow, use an account that helps you leave the money at work, rather than a “slush fund” that’s easy to dip into.
People tell me they are saving $545 a month in an account. Yet when I ask them how much they have accumulated after seven years of doing this, their answer is often $1,123 because they spend out of that same account.
It is not a save-to-save account — it’s a save-to-spend account! If you know you’re not naturally a disciplined saver, make it harder to get at the money. You’ll be doing yourself a favor in the long run.
Rule 5: Use half, save half
Every time you pay off a debt, get a pay raise, get a bonus, or have any excess cash, have fun with half the money, and put the other half toward your long-term goals.
This is one of the best rules, especially for younger people. By following this rule consistently, in ten years, most people are amazed at how much they can save.
Whether you save or not has nothing to do with how much money you make. Either you save or you don’t. It’s a habit. Make a habit of investing half of any windfall, big or small, right off the top.
Rule 6: Always use matching money
For example, your employer’s 401(k) matching program (in India, the employer’s matching Providend Fund Contribution, for example).
Do whatever you must to take advantage of matched contributions in a retirement plan. You can’t afford not to take the free money.
Hypothetically speaking, if you invest $100 take-home pay in a taxable investment (25 per cent tax on growth) at an assumed 10 per cent return, you would potentially have $135,586 in 30 years (sales charges and fees not included).
If you put the same $100 into your 401(k) that is 100 per cent matched, now you have $150 a month saved because of the tax savings.
Meanwhile your boss adds $150 because of the match — and it grows tax-deferred, too! Using the same hypothetical return scenario, we have $683,797 to live on — five times as much wealth with the same work.
Sometimes being smart with our money is a phenomenal advantage. This is a classic example of where investor behavior, not investment performance, makes a huge difference in your long-term wealth potential. You can hate your boss, or plan to quit, but you must take advantage of the matched money.
Rule 7: Do not spend more than you make
This should seem painfully obvious, but people often have no idea how much they’re really spending and what relationship that has to how much they make.
In making a budget people often cannot account for 30 per cent of the money they earn and where it goes.
If you are just a little more vigilant, you can significantly enhance your long-term ability to reach your goals.
A budget doesn’t happen by accident; it takes practice and is an ever-changing tool in our financial planning. Practice makes perfect. Although “perfect” is never the ideal word for a budget, it does have more meaning and usefulness the longer we practice its use.
Rule 8: Never leave undivided real property to joint beneficiaries
Lots of things are more important than money. Family is probably at the top of the list. If you want a vicious family feud on your hands, breaking this rule would be a great place to start.
Imagine a farm that gets left to four sons: One has farmed it for 20 years; one is an environmentalist and wants it to be a park; one is broke and needs money; and one could not care less about it. Who will get wealthy from this plan? The attorneys. And the kids and grandkids will probably hate each other forever.
Remember that ‘equal’, ‘equitable’, and ‘fair’ are three different words with three totally different meanings.
Rule 9: Never name co-trustees or co-executors of your estate
This one goes right along with the undivided property rule above. Next to poor planning, litigation can be the biggest financial drain on an estate.
Minimize the number of trusted decision-makers, and you’ll reduce your chances for litigation. What’s more, the entire process will be easier and more efficient with one decision-maker.
Rule 10: Above all —
–Be happy with what you have, and it will lead to both unbelievable financial success and personal (not mere financial) wealth! Source: rediff.com
Your Loan in the Valley