How to Succeed in a Down Market – Words of Wisdom From a 30 Year Veteran
October 27, 2011
My mom, Diana Rugh, has been a real estate agent for more than thirty years. In my early twenties, I sold real estate with her in Arizona and thought I knew everything. I found out pretty quickly, not only was I wrong, this business isn’t nearly as easy as many people think. If you have been in the business for any length of time, you know surviving 30+ years isn’t a small feat. Recently, I sat down and asked my mom how she’s survived the down markets. She shared these words of wisdom:
(1) Be Persistent
Todd Carpenter, Diana Rugh & Ira Serkes, California Association of REALTORS Expo 2011
It’s easy to get discouraged when times are tough, but persistence is key. “I’m too stubborn to quit,” my mom says. “Many agents are discouraged, I’ve been there too. This market is really hard, but I see agents who stop doing the tasks they need to do most. Failure is not an option for me. The only way to survive this kind of market is to keep pushing on. Inactivity won’t make it better.”
(2) Be Consistent About Prospecting
“Consistent prospecting is key in this business. We get so excited to get a deal, we forget that we still need business next week, next month and next year.” Without a doubt, we’ve all been there. When we get an active transaction, we have to make sure our customers are properly cared for and the transaction successfully closes but we can’t lose site of future business. I asked my mom how she takes the time to focus on the business development. “It’s not easy, she said, “Schedule prospecting every day and don’t let it slip out of the schedule.”
(3) Focus on the People
When you are paid on commission and you have a family to feed, it is not always easy to focus on the people instead of the paycheck. “My clients aren’t dollar signs, they are people. If I can help them, the compensation will come, both in terms of money, but also helping my clients reach their goals. There are days when this business is not worth the paycheck. If you focus on the paycheck instead of the people, the business won’t be rewarding, and it certainly won’t pay off long term. Your customers know when you see dollar signs in their eyes, and when you genuinely care.”
(4) Plan
Plan for the down markets. “The market is really difficult, but people still buy and sell real estate,” Diana said. “You need to be banking it away when it’s good and not overextending yourself. You always have to plan for months without a check. You also have to plan for taxes, and for business overhead that doesn’t go away in the down market. When times are flush, plan ahead for the future. Planning and saving will keep you in this business for the long term.
(5) Adapt
The business changes and your customers change over time. “When I started in real estate, we had a computer without a screen and listings came in a book,” Diana said. “Nothing was instantaneous. Many people resist technology but your clients are all using technology. It’s hard to change but you have customers who are in different generations and you have to adapt to their different styles to stay in this business.”
It’s not easy to prosper in this business for 30+ years, but she continues to adapt and learn new ways to grow her business. “Always be learning,” my mom says, “It’s essential to long term success.”
If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!
The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.
Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com
Monday, October 31, 2011
Sunday, October 30, 2011
Keeping Contracts on the Right Track
Keeping Contracts on the Right Track
Posted By susanne On September 21, 2011 @ 3:41 pm In Best Practices,Business Development,Coaching,Marketing,Real Estate Information,Real Estate Trends
Most professionals in the real estate industry accept that recovery will continue to be up and down from month to month—sometimes even day to day. You understand that prices and sales will likely be skipping along the bottom for the next year or two before housing is back on a steady growth track.
But the more important thing to recognize is that savvy prospective buyers are aware of this, too, and the sawtooth activity is adding to the natural jitters that come with deciding to make a significant purchase such as a home.
Their discomfort is among various factors contributing to gaps between pending home sale reports and subsequent totals of closed monthly sales. The National Association of REALTORS® reported that pending transactions increased in both May and June this year, but gains in existing-home sales ran short of forecasts from the earlier pending data.
So why are fewer contracts making it to the closing table? It’s a combination of tighter lending standards, low appraisals, sellers who are hesitant to negotiate too freely and buyers who decide to walk away from the process when it’s too heated.
Although there are some roadblocks and detours that can’t be helped on your clients’ side of the transaction, there are ways to help keep buyers’ confidence on course—all the way to the closing table.
Know the Market
It’s always good to bolster your monthly local market report with a macro view of what’s happening in real estate. By keeping your sights on local and national real estate legislation and policy debates, you can better anticipate potential negative influences on your buyers. They’re reading some of the same news, and you’re the right person to help them make sense of it. It takes 15 minutes each morning to read the latest headlines and pass along key information. Whether the news pertains directly to their situation or not, your attention, initiative and analysis can provide valuable reassurance to nervous buyers that you’re on top of things and sensitive to their concerns and interests.
Buckle Them In
Identifying buyers’ motivation is an important step in helping you manage their expectations throughout the process and keep them on track past any speed bumps. Most buyers start the process already visualizing the finish line, so come right out and ask how they see it all going. That’s the time to address any misperceptions or unrealistic outcomes. No matter how much homework they’ve done before consulting you, they’re coming to you because it’s much easier to wade into uncomfortable territory with a guide who knows the terrain better than they ever could. Anticipate their questions, offer emotional reinforcement and be the confident expert they need.
Be Encouraging
Buying a home can and should be exciting—even in challenging times—and you can preserve the enjoyment right through to closing by using cautious optimism to help your buyers focus on the prize. When you’re steady throughout the process, your clients will more likely go with the flow as well. And it’s okay to point out that you continue to be successful in this business because the dream of homeownership is alive and well.
The fact remains: It’s a great time for qualified, prepared buyers to act. Although the process isn’t always as seamless as it was in the boom times, the results are the same: buyers find a place to call their own.
If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!
The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.
Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com
Posted By susanne On September 21, 2011 @ 3:41 pm In Best Practices,Business Development,Coaching,Marketing,Real Estate Information,Real Estate Trends
Most professionals in the real estate industry accept that recovery will continue to be up and down from month to month—sometimes even day to day. You understand that prices and sales will likely be skipping along the bottom for the next year or two before housing is back on a steady growth track.
But the more important thing to recognize is that savvy prospective buyers are aware of this, too, and the sawtooth activity is adding to the natural jitters that come with deciding to make a significant purchase such as a home.
Their discomfort is among various factors contributing to gaps between pending home sale reports and subsequent totals of closed monthly sales. The National Association of REALTORS® reported that pending transactions increased in both May and June this year, but gains in existing-home sales ran short of forecasts from the earlier pending data.
So why are fewer contracts making it to the closing table? It’s a combination of tighter lending standards, low appraisals, sellers who are hesitant to negotiate too freely and buyers who decide to walk away from the process when it’s too heated.
Although there are some roadblocks and detours that can’t be helped on your clients’ side of the transaction, there are ways to help keep buyers’ confidence on course—all the way to the closing table.
Know the Market
It’s always good to bolster your monthly local market report with a macro view of what’s happening in real estate. By keeping your sights on local and national real estate legislation and policy debates, you can better anticipate potential negative influences on your buyers. They’re reading some of the same news, and you’re the right person to help them make sense of it. It takes 15 minutes each morning to read the latest headlines and pass along key information. Whether the news pertains directly to their situation or not, your attention, initiative and analysis can provide valuable reassurance to nervous buyers that you’re on top of things and sensitive to their concerns and interests.
Buckle Them In
Identifying buyers’ motivation is an important step in helping you manage their expectations throughout the process and keep them on track past any speed bumps. Most buyers start the process already visualizing the finish line, so come right out and ask how they see it all going. That’s the time to address any misperceptions or unrealistic outcomes. No matter how much homework they’ve done before consulting you, they’re coming to you because it’s much easier to wade into uncomfortable territory with a guide who knows the terrain better than they ever could. Anticipate their questions, offer emotional reinforcement and be the confident expert they need.
Be Encouraging
Buying a home can and should be exciting—even in challenging times—and you can preserve the enjoyment right through to closing by using cautious optimism to help your buyers focus on the prize. When you’re steady throughout the process, your clients will more likely go with the flow as well. And it’s okay to point out that you continue to be successful in this business because the dream of homeownership is alive and well.
The fact remains: It’s a great time for qualified, prepared buyers to act. Although the process isn’t always as seamless as it was in the boom times, the results are the same: buyers find a place to call their own.
If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!
The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.
Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com
Tuesday, October 18, 2011
20 Stress Management Tips for Peak Performance
20 Stress Management Tips for Peak Performance
Posted By suzanne On October 17, 2011 @ 4:00 pm In Business Development,Consumer News and Advice,Real Estate,Real Estate Trends
Structural engineers get paid big bucks to design buildings strong enough to withstand the damaging impact brought on by Mother Nature’s fury. They use computer simulations to help them identify and mitigate stress-fatigue factors, which might contribute to the collapse of the building. Ironically, people, like buildings, are also susceptible to stress-fatigue factors and physical collapse brought on by the crippling affects derived from excessive fear, anxiety and worry.
Research indicates that a person will react to stressful situations based upon the temperament style that he or she was born into. For example, aggressive people have “anger management,” expressive people have “emotional management,” passive people have “self-esteem management” and analytical people have “stress management.” In other words, people who tend to be extremely detailed, organized, critical and shy attract stress into their lives like metal shavings are drawn to a magnet.
The major behaviors associated with people under stress include; aloofness, increased sadness, panic attacks, overly sarcastic humor and extreme negative self-talk. Stress occurs when an analytical or “melancholy” type of person is overwhelmed by his or her attempts to balance their physical, financial, personal, spiritual and career interests. The long-term affects of prolonged stress are accumulative and can be physically and mentally damaging over time. Stress manifests in the body as TMJ / teeth grinding, tension headaches, neck / shoulder pain and lower back pain. Here are several practical ideas that you can use to help you dramatically reduce your stress level and live a much more productive life.
Stress Management Tips
1. Get plenty of sleep.
2. Eat balanced meals and avoid eating junk food.
3. Drink plenty of water and avoid nicotine, excessive caffeine and other stimulants.
4. Avoid drinking alcohol in excess.
5. Learn to make decisions quickly and let go of the need to over-analyze everything.
6. Express your feelings appropriately and don’t bottle up your emotions.
7. Avoid trying for perfection and don’t sweat the small stuff.
8. Maintain a positive mental attitude by utilizing affirmative “self-talk.”
9. Stop worrying so much and look at situations more optimistically.
10. Smile and laugh frequently throughout the day, don’t take yourself so seriously.
11. Mix leisure with work: take breaks and get away when you can.
12. Make a point to spend quality time with your friends and family.
13. Become more tolerant and don’t be overly critical of yourself or others.
14. Always be kind and gentle with yourself.
15. Listen to upbeat music or watch your favorite movie.
16. Exercise for cardiovascular fitness three to four times a week.
17. Set written goals, plan your time and prioritize your activates.
18. Keep a list of “things to do” and stay focused on short-term accomplishments.
19. Get a massage or take a warm bath.
20. Do something nice for someone else.
If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!
The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.
Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com
Posted By suzanne On October 17, 2011 @ 4:00 pm In Business Development,Consumer News and Advice,Real Estate,Real Estate Trends
Structural engineers get paid big bucks to design buildings strong enough to withstand the damaging impact brought on by Mother Nature’s fury. They use computer simulations to help them identify and mitigate stress-fatigue factors, which might contribute to the collapse of the building. Ironically, people, like buildings, are also susceptible to stress-fatigue factors and physical collapse brought on by the crippling affects derived from excessive fear, anxiety and worry.
Research indicates that a person will react to stressful situations based upon the temperament style that he or she was born into. For example, aggressive people have “anger management,” expressive people have “emotional management,” passive people have “self-esteem management” and analytical people have “stress management.” In other words, people who tend to be extremely detailed, organized, critical and shy attract stress into their lives like metal shavings are drawn to a magnet.
The major behaviors associated with people under stress include; aloofness, increased sadness, panic attacks, overly sarcastic humor and extreme negative self-talk. Stress occurs when an analytical or “melancholy” type of person is overwhelmed by his or her attempts to balance their physical, financial, personal, spiritual and career interests. The long-term affects of prolonged stress are accumulative and can be physically and mentally damaging over time. Stress manifests in the body as TMJ / teeth grinding, tension headaches, neck / shoulder pain and lower back pain. Here are several practical ideas that you can use to help you dramatically reduce your stress level and live a much more productive life.
Stress Management Tips
1. Get plenty of sleep.
2. Eat balanced meals and avoid eating junk food.
3. Drink plenty of water and avoid nicotine, excessive caffeine and other stimulants.
4. Avoid drinking alcohol in excess.
5. Learn to make decisions quickly and let go of the need to over-analyze everything.
6. Express your feelings appropriately and don’t bottle up your emotions.
7. Avoid trying for perfection and don’t sweat the small stuff.
8. Maintain a positive mental attitude by utilizing affirmative “self-talk.”
9. Stop worrying so much and look at situations more optimistically.
10. Smile and laugh frequently throughout the day, don’t take yourself so seriously.
11. Mix leisure with work: take breaks and get away when you can.
12. Make a point to spend quality time with your friends and family.
13. Become more tolerant and don’t be overly critical of yourself or others.
14. Always be kind and gentle with yourself.
15. Listen to upbeat music or watch your favorite movie.
16. Exercise for cardiovascular fitness three to four times a week.
17. Set written goals, plan your time and prioritize your activates.
18. Keep a list of “things to do” and stay focused on short-term accomplishments.
19. Get a massage or take a warm bath.
20. Do something nice for someone else.
If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!
The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.
Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com
Thursday, October 13, 2011
September 2011 Real Estate Market Update
September 2011 Real Estate Market Update
September pending sales fell somewhat from August but still finished ahead of last September. For Southeast
Michigan, we have had four consecutive months of a rising average price per square foot. That can be explained by
a combination fewer lower priced bank sales and good old fashion appreciation. How much of each is tough to tell,
but certainly there is at least some sprinkling of appreciation in the mix. The charts below show the value per
square foot comparison of this year to last as well as a similar median price comparison for bank owned and nonbank
owned homes.
Home Values - Price Per Square Foot - Five County Metro Detroit
Median Prices Non-Bank Owned (Retail) vs. Bank Owned
The median value charts show that bank owned values have bounced around a bit while non-bank values have
moved steadily upward in the past three months. Average Price per Square Foot and Median values tend to follow
the same trends so looking at both can help confirm a market direction.
Another exciting opportunity is the strength of our single-family home rental market. While home values were
declining, rental rates and demand for rental homes remained firm (as an unfortunate result of so many home
owners now forced to be renters). So investors can now get reasonable cash on cash returns when in the past they
were lucky to just cover their costs (our web sites have an investment analysis button on each listing). The other
side of that coin is that Metro Detroit is one of the strongest markets to own in lieu of renting. The chart below
shows an extreme example of the power of owning vs. renting. In the example, because the Buyer saves $350 per
month over renting, they can actually lose money on the home (in this case the home falls in value over 20%)
and still make a great return on their investment (down payment plus loss on sale)!
So as a renter/buyer, if you have any interest in being a homeowner in the next five years, go after it now, there will
be not better time to do it!
For Company news, Trulia has just released a report showing that 69% of the errors in on line listing postings
(price, status, etc.) come from third party syndicators (like Point2, List Hub, etc.). What does that mean to our
Sellers and us? Most all brokers use these services to send their listings to various sites, so they are more prone to
errors. We distribute directly whenever possible to ensure that our listing information on the web is accurate. So
even if another broker says they send their information to some of the same web sites as we do, our information is
the most accurate and up to date.
Here are our numbers for September. Strong and steady, just like our sports teams!
Total Company Summary - Sept. 2011
# of Buyers to Open Houses 2,416
# of Showing Appointments 14,736
# of Homes Sold/Leased 1,500
# of Web Inquires (Unique Visitors) 180,616
# of Mortgage/Title/Insurance Closings 656
If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!
The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.
Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com
September pending sales fell somewhat from August but still finished ahead of last September. For Southeast
Michigan, we have had four consecutive months of a rising average price per square foot. That can be explained by
a combination fewer lower priced bank sales and good old fashion appreciation. How much of each is tough to tell,
but certainly there is at least some sprinkling of appreciation in the mix. The charts below show the value per
square foot comparison of this year to last as well as a similar median price comparison for bank owned and nonbank
owned homes.
Home Values - Price Per Square Foot - Five County Metro Detroit
moved steadily upward in the past three months. Average Price per Square Foot and Median values tend to follow
the same trends so looking at both can help confirm a market direction.
Another exciting opportunity is the strength of our single-family home rental market. While home values were
declining, rental rates and demand for rental homes remained firm (as an unfortunate result of so many home
owners now forced to be renters). So investors can now get reasonable cash on cash returns when in the past they
were lucky to just cover their costs (our web sites have an investment analysis button on each listing). The other
side of that coin is that Metro Detroit is one of the strongest markets to own in lieu of renting. The chart below
shows an extreme example of the power of owning vs. renting. In the example, because the Buyer saves $350 per
month over renting, they can actually lose money on the home (in this case the home falls in value over 20%)
and still make a great return on their investment (down payment plus loss on sale)!
be not better time to do it!
(price, status, etc.) come from third party syndicators (like Point2, List Hub, etc.). What does that mean to our
Sellers and us? Most all brokers use these services to send their listings to various sites, so they are more prone to
errors. We distribute directly whenever possible to ensure that our listing information on the web is accurate. So
even if another broker says they send their information to some of the same web sites as we do, our information is
the most accurate and up to date.
Here are our numbers for September. Strong and steady, just like our sports teams!
Total Company Summary - Sept. 2011
# of Buyers to Open Houses 2,416
# of Showing Appointments 14,736
# of Homes Sold/Leased 1,500
# of Web Inquires (Unique Visitors) 180,616
# of Mortgage/Title/Insurance Closings 656
If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!
The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.
Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com
Friday, October 7, 2011
Marketing Strategies: 7 Things You Need to Know to Double Your Income
Marketing Strategies: 7 Things You Need to Know to Double Your Income
Dr. Maya Bailey
Are you feeling confused in today’s marketplace? Do you find yourself in any of these patterns?
• Procrastinating
• Feeling scattered
• Avoiding picking up the phone?
• Doing just “busy work”?
If you answered yes to any of the above, chances are you are feeling “stuck” and your business is suffering.
Here are some tips to get your business back on track and double your income:
1. Let go of the “need to please”
A recent study on marketing revealed that it’s not important that your client likes you, it’s more important that the client perceives that you like them. Then your client will feel secure and confident you will take good care of their needs. That does not mean that you have to bend over backwards for them, but rather build a relationship based on mutual respect.
When working with sellers, be honest with them about the value of their home, instead of just saying what you think will make them happy. When working with buyers, don’t waste time showing them homes without an exclusive agreement. Don’t cancel your plans just because a client wants to see you.
When you respect yourself, others will do the same. As one of my clients put it, the “disease to please” will only drain you with little benefit to your business.
2. Clear up your relationship with money
Do any of these thoughts float around in your head?
• Money is always flowing away from me
• I am not deserving of wealth
• Other people can have nice things but not me
Can you understand how difficult it would be to attract money to yourself with these self limiting beliefs pushing money away on a subconscious level? Remember, your beliefs create your reality. If you tell the universe that you are not deserving of money, then the universe will send you exactly what you believe and it becomes a self-fulfilling prophecy.
It’s important that you become aware of what these beliefs are, release them, and then install empowered beliefs that magnetize money to you.
• I am a money magnet
• Money flows to me easily and effortlessly
• I attract abundance by working smarter not harder
Please note that these Empowered Beliefs will not feel natural to you at the beginning, but they are like planting seeds in a garden and they will sprout if you nurture them. You can think of them as setting intentions.
3. Reprogram your self-limiting beliefs about “success”
If you believe that success is hard, or that you will have to sacrifice your personal life or that to be successful you have to be selfish and aggressive, then that is what you will create. The results of holding onto these anti-success beliefs is obvious; you just keep pushing it away after day month after month and year after year. Success always seems out of reach. If you do manage to achieve it, you’ll push it away.
But here’s the good news: it doesn’t matter how many years you’ve had a belief, the power to change that belief is always in the present moment. That’s why it’s so important to identify the belief and bring it to the surface. That’s why working with an outside coach can save you years of struggle and sacrifice. With some outside support you can easily see the beliefs that have been blocking you and once you have that awareness, it’s relatively easy to reprogram that belief out of your mind.
Success is based on helping people achieve their goals and working smarter, not harder. Guess what an amazing reality this belief creates?
4. Release self doubt
The only thing standing in the way of you feeling that you can do it all is your self-limiting beliefs. Most of them are hidden under the surface, telling you that you can’t. Even if you don’t currently believe in yourself, you can be taught to retrain your brain so that you have “unwavering faith” in your ability to succeed. Every moment you have a choice to be in “fear” or “faith.”
Fear sounds like: “I can’t do this” or “I’m too old”
Faith sounds like: “I don’t know how, but I know I’m going to make it” or “I have a valuable service to offer, and people are happy to hear from me”
5. Stop criticizing yourself
Self-criticism is a common pattern that stops people from being successful. This pattern is somewhat insidious; it operates below the surface and you may not even know it is happening. If you’re busy beating yourself up, you are destroying your self-esteem and that leaves you feeling very empty. Then you begin to crave validation. Since you’re not giving it to yourself, you crave it from others; friends, family, clients and prospective clients. As a result you give up your power and put in the hands of others. This puts you in a vulnerable position in every interaction.
I recommend using the “stop” technique whenever you suspect that your inner critic has taken over.
Step one: Say “stop”
Step two: Take a deep breath
Step three: Think a positive new thought, such as:
• I love and approve of myself
• I am committed to building myself up instead of tearing myself down
• I always focus on my strengths
Watch your energy and motivation increase as you implement this technique, sometimes several hundred times a day.
6. Start appreciating yourself
The interesting thing about your inner critic is that it probably has good intentions for you. It probably thinks that it can “whip you into shape,” so you’ll be more successful. But that is actually the opposite of the truth. The truth is that when you are putting yourself down, you are weakening yourself and lowering your energy.
The antidote to this is to begin to learn to appreciate and validate yourself. When is the last time you looked at yourself in the mirror and appreciated what you saw?
Learning to validate yourself can be as simple as learning “positive self talk.” This would sound like “I’m really proud of you,” or “good job.” Take time to stop and appreciate all the good things you do.
This helps you to be more successful in several ways:
1. You’re sending out a positive vibration to the universe, and attracting that in return
2. It raises your energy
3. It makes you magnetic for your ideal clients
7. Work with high end clients
To double your income and make more money with less effort, you must begin working with high-end clients. Everyone I’ve ever coached has expressed desire to work with high-end clients but along with that desire come many self-limiting beliefs that stop them. Perhaps you could recognize some of these as your own self-limiting beliefs.
• I feel intimidated by higher end clients
• I don’t have an education so I’m not as good as…
• We don’t run around in the same circles
• We can’t connect because…
• Higher end clients are more sophisticated and will ask me questions that I can’t answer
High-end clients become the name for the unknown and most people want to stay with the familiar. They want to stay with the status quo and they want to avoid the unknown. So you end up avoiding the unknown and then wonder why you’re working so many hours.
The truth is that high-end clients are no different than anyone else. The truth also is that they don’t necessarily care about your education or even your sophistication; what they care about is whether you are the answer to their real estate needs.
How are they going to know whether you are? This is determined by the confidence that you project. What determines your confidence level? Your beliefs. If your beliefs are mostly self-limiting beliefs that lower your self-esteem, then you will not feel empowered enough to market to high-end clients.
If on the other hand, you go through a reprogramming process, then you can release those self-limiting beliefs, install empowered beliefs and watch your income double.
If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!
The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.
Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com
Dr. Maya Bailey
Are you feeling confused in today’s marketplace? Do you find yourself in any of these patterns?
• Procrastinating
• Feeling scattered
• Avoiding picking up the phone?
• Doing just “busy work”?
If you answered yes to any of the above, chances are you are feeling “stuck” and your business is suffering.
Here are some tips to get your business back on track and double your income:
1. Let go of the “need to please”
A recent study on marketing revealed that it’s not important that your client likes you, it’s more important that the client perceives that you like them. Then your client will feel secure and confident you will take good care of their needs. That does not mean that you have to bend over backwards for them, but rather build a relationship based on mutual respect.
When working with sellers, be honest with them about the value of their home, instead of just saying what you think will make them happy. When working with buyers, don’t waste time showing them homes without an exclusive agreement. Don’t cancel your plans just because a client wants to see you.
When you respect yourself, others will do the same. As one of my clients put it, the “disease to please” will only drain you with little benefit to your business.
2. Clear up your relationship with money
Do any of these thoughts float around in your head?
• Money is always flowing away from me
• I am not deserving of wealth
• Other people can have nice things but not me
Can you understand how difficult it would be to attract money to yourself with these self limiting beliefs pushing money away on a subconscious level? Remember, your beliefs create your reality. If you tell the universe that you are not deserving of money, then the universe will send you exactly what you believe and it becomes a self-fulfilling prophecy.
It’s important that you become aware of what these beliefs are, release them, and then install empowered beliefs that magnetize money to you.
• I am a money magnet
• Money flows to me easily and effortlessly
• I attract abundance by working smarter not harder
Please note that these Empowered Beliefs will not feel natural to you at the beginning, but they are like planting seeds in a garden and they will sprout if you nurture them. You can think of them as setting intentions.
3. Reprogram your self-limiting beliefs about “success”
If you believe that success is hard, or that you will have to sacrifice your personal life or that to be successful you have to be selfish and aggressive, then that is what you will create. The results of holding onto these anti-success beliefs is obvious; you just keep pushing it away after day month after month and year after year. Success always seems out of reach. If you do manage to achieve it, you’ll push it away.
But here’s the good news: it doesn’t matter how many years you’ve had a belief, the power to change that belief is always in the present moment. That’s why it’s so important to identify the belief and bring it to the surface. That’s why working with an outside coach can save you years of struggle and sacrifice. With some outside support you can easily see the beliefs that have been blocking you and once you have that awareness, it’s relatively easy to reprogram that belief out of your mind.
Success is based on helping people achieve their goals and working smarter, not harder. Guess what an amazing reality this belief creates?
4. Release self doubt
The only thing standing in the way of you feeling that you can do it all is your self-limiting beliefs. Most of them are hidden under the surface, telling you that you can’t. Even if you don’t currently believe in yourself, you can be taught to retrain your brain so that you have “unwavering faith” in your ability to succeed. Every moment you have a choice to be in “fear” or “faith.”
Fear sounds like: “I can’t do this” or “I’m too old”
Faith sounds like: “I don’t know how, but I know I’m going to make it” or “I have a valuable service to offer, and people are happy to hear from me”
5. Stop criticizing yourself
Self-criticism is a common pattern that stops people from being successful. This pattern is somewhat insidious; it operates below the surface and you may not even know it is happening. If you’re busy beating yourself up, you are destroying your self-esteem and that leaves you feeling very empty. Then you begin to crave validation. Since you’re not giving it to yourself, you crave it from others; friends, family, clients and prospective clients. As a result you give up your power and put in the hands of others. This puts you in a vulnerable position in every interaction.
I recommend using the “stop” technique whenever you suspect that your inner critic has taken over.
Step one: Say “stop”
Step two: Take a deep breath
Step three: Think a positive new thought, such as:
• I love and approve of myself
• I am committed to building myself up instead of tearing myself down
• I always focus on my strengths
Watch your energy and motivation increase as you implement this technique, sometimes several hundred times a day.
6. Start appreciating yourself
The interesting thing about your inner critic is that it probably has good intentions for you. It probably thinks that it can “whip you into shape,” so you’ll be more successful. But that is actually the opposite of the truth. The truth is that when you are putting yourself down, you are weakening yourself and lowering your energy.
The antidote to this is to begin to learn to appreciate and validate yourself. When is the last time you looked at yourself in the mirror and appreciated what you saw?
Learning to validate yourself can be as simple as learning “positive self talk.” This would sound like “I’m really proud of you,” or “good job.” Take time to stop and appreciate all the good things you do.
This helps you to be more successful in several ways:
1. You’re sending out a positive vibration to the universe, and attracting that in return
2. It raises your energy
3. It makes you magnetic for your ideal clients
7. Work with high end clients
To double your income and make more money with less effort, you must begin working with high-end clients. Everyone I’ve ever coached has expressed desire to work with high-end clients but along with that desire come many self-limiting beliefs that stop them. Perhaps you could recognize some of these as your own self-limiting beliefs.
• I feel intimidated by higher end clients
• I don’t have an education so I’m not as good as…
• We don’t run around in the same circles
• We can’t connect because…
• Higher end clients are more sophisticated and will ask me questions that I can’t answer
High-end clients become the name for the unknown and most people want to stay with the familiar. They want to stay with the status quo and they want to avoid the unknown. So you end up avoiding the unknown and then wonder why you’re working so many hours.
The truth is that high-end clients are no different than anyone else. The truth also is that they don’t necessarily care about your education or even your sophistication; what they care about is whether you are the answer to their real estate needs.
How are they going to know whether you are? This is determined by the confidence that you project. What determines your confidence level? Your beliefs. If your beliefs are mostly self-limiting beliefs that lower your self-esteem, then you will not feel empowered enough to market to high-end clients.
If on the other hand, you go through a reprogramming process, then you can release those self-limiting beliefs, install empowered beliefs and watch your income double.
If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!
The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.
Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com
Thursday, October 6, 2011
Short Sale vs. Foreclosure: A Short Sale Always Wins
Short Sale vs. Foreclosure: A Short Sale Always Wins
by Christopher Reale on October 4, 2011
We are again honored to have Christopher Reale, Director of Short Sale Operations at Lepizzera and Laprocina Title and Escrow Services, as today’s guest blogger. He is an expert on the short sale process and will share his knowledge with us on a regular basis. – The KCM Crew
Today’s ever changing real estate industry has brought upon some very challenging questions from our clients. We as counselors, want to put forth the best, non-emotional advice that we can, in hopes that we can help our clients and their families navigate the rough waters of the short sale process.
The most prevalent question and one that continues to permeate the industry is:
“Why should a seller go through the short sale process rather than letting their house be foreclosed upon?”
While we cannot speak to every client circumstance, we can say one thing with complete conviction. In almost all instances in which a potential seller is contemplating whether they should short sell their house or let it go through the foreclosure process, a short sale is the better option. The following are examples to consider:
Example A- Short Sale
Mr. Smith owns a home in which he has a mortgage balance of $220,000 and a current market value of $150,000. Mr. Smith has elected to short sell his property. His Realtor successfully obtains a buyer who puts forth an offer price of $120,000 (80% current market value according to Realty Trac Foreclosure Report 5/26/2011). After reviewing the buyers offer and the financial hardship information from Mr. Smith, Mr Smith’s bank agrees to accept the short payoff of $120,000 which would leave a deficiency balance of $100,000.
The transaction closes and is final. Mr. Smith then pulls his credit report 30 days after the transaction takes place. On the report he notices that the mortgage trade line states “Mortgage debt was settled for less than full” and the balance on the mortgage is $0. Mr. Smith is now on the road to financial recovery.
Example B- Foreclosure
For the ease of illustration we will use the same value and mortgage debt amounts as in Example A. However, Mr. Smith has elected to forgo the short sale process and let the bank foreclose on the property. The bank holding his mortgage facilitates the proper legal procedures to foreclose on the property, all of which are costly. Mr. Smith is notified and his property foreclosed upon of which is taken back by the bank to sell as an REO.
Six months later, the bank finally sells Mr. Smith’s home only they sell it for $90,000 (60% of current market value according to Realty Trac Foreclosure report dated 5/26/2011). Remember, as a short sale, the home would have sold for $120,000 keeping the deficiency to $100,000. In addition to the deficiency now being $130,000, the bank has elected to add on legal costs of $15,000 and asset preservation costs of another $5000 for a total deficiency liability of $150,000. Mr. Smith pulls his credit report 30 days after being notified that the bank has sold his property and of his liability.
On the report he notices that the mortgage trade line states “Foreclosure” and the balance is $150,000. Because of Mr Smith’s choice to choose foreclosure vs. short sale his road to financial recovery has taken a major detour. He not only has a foreclosure on his credit report but now has a much larger deficiency balance in which the bank, in most cases, will report on his credit report as a balance owed.
The Best Option is Clear
While the financial and credit advantages are clear when choosing a short sale over a foreclosure, other advantages are sometimes overlooked. The most important of all of them is maintaining the seller’s dignity and peace of mind. We have heard too many stories of families having to leave their homes because of a Sheriff’s order or some other type of legal action. The short sale process alleviates this negative social impact. The process puts the control back in the seller’s hands so that they can get back on the road to financial recovery and start providing for their families. In the battle of the two evils, a short sale always wins!!!
If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!
The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.
Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com
by Christopher Reale on October 4, 2011
We are again honored to have Christopher Reale, Director of Short Sale Operations at Lepizzera and Laprocina Title and Escrow Services, as today’s guest blogger. He is an expert on the short sale process and will share his knowledge with us on a regular basis. – The KCM Crew
Today’s ever changing real estate industry has brought upon some very challenging questions from our clients. We as counselors, want to put forth the best, non-emotional advice that we can, in hopes that we can help our clients and their families navigate the rough waters of the short sale process.
The most prevalent question and one that continues to permeate the industry is:
“Why should a seller go through the short sale process rather than letting their house be foreclosed upon?”
While we cannot speak to every client circumstance, we can say one thing with complete conviction. In almost all instances in which a potential seller is contemplating whether they should short sell their house or let it go through the foreclosure process, a short sale is the better option. The following are examples to consider:
Example A- Short Sale
Mr. Smith owns a home in which he has a mortgage balance of $220,000 and a current market value of $150,000. Mr. Smith has elected to short sell his property. His Realtor successfully obtains a buyer who puts forth an offer price of $120,000 (80% current market value according to Realty Trac Foreclosure Report 5/26/2011). After reviewing the buyers offer and the financial hardship information from Mr. Smith, Mr Smith’s bank agrees to accept the short payoff of $120,000 which would leave a deficiency balance of $100,000.
The transaction closes and is final. Mr. Smith then pulls his credit report 30 days after the transaction takes place. On the report he notices that the mortgage trade line states “Mortgage debt was settled for less than full” and the balance on the mortgage is $0. Mr. Smith is now on the road to financial recovery.
Example B- Foreclosure
For the ease of illustration we will use the same value and mortgage debt amounts as in Example A. However, Mr. Smith has elected to forgo the short sale process and let the bank foreclose on the property. The bank holding his mortgage facilitates the proper legal procedures to foreclose on the property, all of which are costly. Mr. Smith is notified and his property foreclosed upon of which is taken back by the bank to sell as an REO.
Six months later, the bank finally sells Mr. Smith’s home only they sell it for $90,000 (60% of current market value according to Realty Trac Foreclosure report dated 5/26/2011). Remember, as a short sale, the home would have sold for $120,000 keeping the deficiency to $100,000. In addition to the deficiency now being $130,000, the bank has elected to add on legal costs of $15,000 and asset preservation costs of another $5000 for a total deficiency liability of $150,000. Mr. Smith pulls his credit report 30 days after being notified that the bank has sold his property and of his liability.
On the report he notices that the mortgage trade line states “Foreclosure” and the balance is $150,000. Because of Mr Smith’s choice to choose foreclosure vs. short sale his road to financial recovery has taken a major detour. He not only has a foreclosure on his credit report but now has a much larger deficiency balance in which the bank, in most cases, will report on his credit report as a balance owed.
The Best Option is Clear
While the financial and credit advantages are clear when choosing a short sale over a foreclosure, other advantages are sometimes overlooked. The most important of all of them is maintaining the seller’s dignity and peace of mind. We have heard too many stories of families having to leave their homes because of a Sheriff’s order or some other type of legal action. The short sale process alleviates this negative social impact. The process puts the control back in the seller’s hands so that they can get back on the road to financial recovery and start providing for their families. In the battle of the two evils, a short sale always wins!!!
If you don't remotely know how or where to begin with building or re-building your business, come work with us. We already have systems in place that do it all for you!
The best in their field, even professional athletes take advantage of coaching. If you would like the benefit of working with a full time coach, absolutely free to you, please call me directly or email to set up an interview.
Suzanne O'Brien
(313) 516-6644
suzanneo@realestateone.com
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