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Have you tried Google’s Wonder Wheel?

The next time you run a search on Google:

1. Choose the “Show Options” link located just below the Google search box.

2. A side panel of useful sorting options displays.

3. If you choose Wonder Wheel from the “Standard View” category, a wheel display of relevant search terms displays. By simply clicking on one of the search terms will display a new sub-wheel of relevant search terms and so on and so on. It provides a more intuitive graphical display and makes the task of narrowing down your search results a little easier. It’s also a fantastic way to research relevant and related key words for website and Blog article Search Engine Optimization. Kudos to my friend Scott for sharing this cool insight.

Solving the Mortgage Crisis-A Solution…

Solving the Mortgage Crisis

The Simple Answer is amend the DUE ON SALE CLAUSE!

The shortest distance between two points is a straight line. Actually, it’s a line segment connecting point A to point B. It can get more complex but for the purposes of SOLVING THE MORTGAGE CRISIS, their is simple answer.

PLEASE explain to your elected representatives that a surgical assault  that may help in solving the mortgage crisis is to amend the mandatory, “DUE ON SALE CLAUSE” which currently forces home sellers to either come up with funds to close or be forced by banks to short-sell their homes or even worse FORECLOSE.

Sellers, especially those relocating to a new job and must sell, would rather take a low interest rate loan, say 1%, secured/underwritten by the US government (similar to student loans) than sell short and have their credit recked. This low interest loan with installments payments over 10, 15, 20, or even 30 years, for the difference between what the home sells for and what is owed should be issued in exchange for credit score retention. Doing so would  increase the numbers of ready, willing and able buyers in the pool and would position these folks well to repurchase once they’ve relocated.

Currently, sellers are being forced by banks and to sell short. Folks with otherwise perfect credit scores who are willing to take on debt in lieu of sellinmg short are not given an option to do so until after being foreced through the short-sale process by mortgage holders. Our government, of the people, for the people, by the people in lieu of helping consumers has opted to supply banks cheap money when they could just as easily make those dollars available for qualified transactions. As jobs shift and sellers move by necessity to find new employment, they are being forced to sell short by banks who are unwilling to provide low cost loans for the difference between what is owed and what the home sells for—a loan that any seller, who is current on their mortgage, could apply for and simply sign at the closing in conjunction with a sale. 

In order for banks and sellers to avoid short sales and foreclosures PLEASE demand that elected official vote to amend DUE ON SALE and provide low interest loans government secured loans to sellers NOW.

If this “AMENDED” due on sale clause provision existed, banks wouldn’t need to write down loans but would instead issue low cost long-term loans secured by the government in conjunction with a closing.

Sellers would then be motivated to sell their homes for the highest possible price to reduce the amount of loan they’d have to carry after the closing.  Banks and the government would make money through the issuance of loans to those who are current on their mortgages and Sellers’ credit score and history wouldn’t be damaged which in-turn would allow them to turn around and purchase a new home and thereby accelerating the absorption rate.

Simple answers to complex questions are not always easy to find but in this case, the shortest distance is the straight line.

How we do the things we do, to market homes

Seldom a week goes by when I’m not asked how I do the things I do to market homes. I always struggle to answer concisely. I’ve learned that it’s just as important to know where the agent asking the question is coming from as it is to answering the question itself.  In fact, it is vital to the conversation and pertinent as well.

I once heard a John Tenza, a RE trainer, say “Anything you can say, I can ASK better“.

So I’ve learned to turn the table and to ask probing questions of the questioner in order to discover the essence of their question. I want to know why they are asking the question before answering it.

It is in the ‘why’ that the need is discoverable and to answer anything you need to know the ‘need’.

To that end, I’m going to make some assumptions here about my audience. I’m going to assume that for some of you a nugget is all that’s needed and for others clear direction.

In either case, Enjoy!

 

 7  Things I do to Market homes

Step # 1

Get 7-10 qualified appointments per week It doesn’t really matter how you get the appointments. I’ve discovered that every system works when I do. A qualified appointment is an appointment with someone who wants to buy or sell a home in the next 90 days. All other appointments are important because you have to ‘circulate to percolate’ but they don’t fall into the ‘qualified’ category yet. 

Step # 2

Speak the truth When ask about the market or value of a home, speak the truth. In order to do so you have to be aware of what the truth is. I stay ’on-top of the market’ and understand the mood of the market. Begin by understanding values, types of homes, neighborhoods, what constitutes a good home from a great home,  and understanding the needs and wants of your clients and if you do so you’ll be equipped to speak the truth and it will be well received.

Step # 3

Apply yourself  fully to the task at hand Planning requires full concentration. Begin with the end in mind and work backwards. So if your goal is 7-10 qualified appointments per week, you first need to decide  what you need to do to get appointments. Ask yourself, How am I going to get 7-10 qualified appointments per week?  Depending on what systems you ALREADY have in place will determine much of the how. Assuming you have no systems at all, don’t begin building systems. Too many agents get caught up in system building to the detriment of achieving the primary goal, getting appointments. Instead, be creative. i.e., do a great OH, call your Sphere of Influence, Creat a video using a webcam and post it on Youtube and then send everyone you know a link to it, etc..Don’t spend money, spend time and creative energy and you’ll get results.

Here are some things I did:

When I first got started, I sent a simple note to the members of my Church. It said something like, ‘I just became a REALTOR(R), pray for me’.  It was sincere and it worked.

Then I did open houses sometimes as many as 3 a day. Listen, FOCUS on the objective, getting appointments and remember that all systems work, when you do.  I’ve learned that ‘Face Time’ is really important, so my suggestion is  to get out from behind the desk and ‘circulate to percolate’. 

Put yourself in a ‘target rich’ environment.

In the beginning Church, kids school events, open houses and floor time is where most my appointments originated from.

Today, for me, Church, online-leads, listing syndication, reciprocity networking ( i.e. if I pay anyone to do anything, I ask for a reciprocal relationship) drip email, open houses and social networking are my primary means of getting appointments. In all these arenas, I apply myself fully to the task at hand.

Step # 4

Be efficient Call me frugal but I’ve found that being efficient saves time and money.  Early in my career, as I began to gather a little steam, a technique I used was to set up MLS searches, both Active and Sold searches, for just about eveyone I knew–buyers and sellers and even closed buyers and sellers, friends and family, etc..This is a simple and FREE technique that will enable you to stay in front of your folks…I thought, ‘why should I pay for a drip email campaign when I have immediate access to the information that these folks want at my finger tips? ’

Another technique had to do with open houses. Open houses are essentially ‘launch platforms’ for your business. 

Again, begin with the end in mind and think efficiency and productive time.

First- Choose a location that is ’RIPE’ for an open house. DON’T allow the big shooter in your office to place you out in the sticks, unless you need quiet time. Second-Group open houses so that there are a variety of  them being held at the same time and contact the other agents in the area and encourage them to hold their home open as well. Third- Send out invites to 100 neighbors. Fourth-Be sure to put a rider and fliers on the sign and in the yard 1 week in advance of the open house. Fifth- Post the Open House ad on all available Websites and in the Newspaper. Sixth-email your base to let them know about the open house and HAVE your clients do the same. Seventh-Be sure you place MANY directional signs. Eighth- Brew Flavored Coffee  and have cookies made (Have your clients do this for you and be sure to turn on all lights). Ninth- Goal is to capture contract information so that you can keep the buyers informed of other homes that are available. Tenth-Call and email all who came and thank your client by leaving a card…

The above example of ‘how to do Open House’ is meant to show you the process I go through and is simply one example of strategies I use and the purpose of sharing it with you is so that you can understand the mental process I go through when creating systems.

Every system I employ uses the same type of overlapping strategy and as such is super productive.

I‘m always trying to get the biggest bang for the buck in terms of money and productivity.

If you are going to do something, do it well, it’ll save you time and make you money.

Step # 5

Listen carefully and discern needs I cannot over emphasise  the need to listen. It is more difficult than what you think. The difference between listening and hearing is substantial.  When you UNDERSTAND your clients, you can tend to their needs well. Talk with them, don’t rushbecause in the end if you don’t connect on a deep level your repeat/referral business will NOT grow–people do business repeatedly with those they connect with.

Ultimately to have a sustainable practice you need a strong base that consist of totally satisfied clients who know how to refer business to you and who are willing to do so.  The only way you can sustain such connections is to conect on adeep level first and then maintain that relationship.

Step # 6

Be know as an exceptional person I don’t really strive to be #1. It is more important for me to be known as a trustworthy person who sells Real Estate and participates in the community and in Church. A person who is dependable and available. A person who is easy to contact and who doesn’t shy away from challenges. A person of integrity, period. 

Step # 7

Win the hearts and minds of clients When I meet with a prospect, I’m all in. To me no matter how the prospect came to sit in my office or me in their kitchen, the goal is the same, to win their hearts and minds.

The process begins even prior to our first meeting. All my marketing is structured to produce opportunities like this. Before we meet most of the clients have read my profile online, checked out the marketing that has been applied to the my listings, read ’satisfied client’ endorsements and in many cases has been referred to me.

But when I first got started and I didn’t have ‘reputation‘ to lean on so I leaned on the reputation of my company, my own enthusiasm and market knowledge.

Assuming you are at a listing appointment, prior to the appointment take whatever time is necessary to get to know everything about the neighborhood, i.e. what has sold, what is for sale and what is pending. Also, know who the players are and what separates you from them..For example, I use the following language: Unlike other REALTORS(R) I….

Separate yourself from the pack and know what your differentiators are.

How are you different from them? You might say, unlike other agents who simply stick a sign in your yard, hang a lock box on your door, take a few pictures with their portable camera put them in the MLS and on their personal and Company websites,  I leave no stone unturned when marketing a home.

1. I syndicate your home’s listing to hundreds of websites across the Internet so that anyone, anywhere on the planet, who has an interest in a home like yours can tour it.

2. I make certain that your home’s listing is fully contextualized. That is that is contains multiple high-resolution pictures taken by professional photographers, a virtual tour, and narrated walk-through video and that the details and descriptions are complete and accurate. There is nothing more frustrating to a buyer than incomplete and inaccurate home information. Thegoal is to do everything possible to get your home on the buyer’s SHORT LIST and by getting them to save it to their FAVORITES we accomplish that goal.

3. I quantify the online data because it isn’t enough to know that the home is on the Internet, I want my clients to know how many online visitors it takes to result in a showing and how many showings are needed to result in a sale.  So I provide the analytics to the seller weekly with commentary and the sellers know upfront that if we don’t achieve certain thresholds then the price will need to be adjusted.

4. I automate the feedback. The number one complaint, bar-none, from sellers is that they don’t get feedback from their agents…We nipped this in the bud several years ago and automated the feedback. Automate your feedback…Your clients will love you for it.

Okay, that’s enough to get you started. Hopefully it’ll stir your imagination and you’ll gain a little confidence going into the Spring.

Honey, Remember the milk…

 If you are like me, a list-maker, and the Internet has taken over your life and you yearn for the ‘ol days when creating a list of things to do was the best way to stay organized, then this cool application may be perfect for you.

Remember the Milk is a great way to keep track of those ‘ToDo” items that seem to slip through the cracks in this crazy multi-tasking world we find ourselves in. 

I know what you are thinking—something else to learn, something else integrate, NO thank you!

But I need to encourage you to use this one–It is the best of the breed!

John Thomson of Interomojo has reviewed this application and has given it raving reviews. 

Let’s take it for  test drive…

Mid-FEB 2010, Implement a Stress Test!

Much has been said about ‘Stress Tests’ in the financial industry and I’m here to tell you the same practice is needed in our businesses and in personal planning. 

A  Stress Test is easy to perform and can be a great way to frighten yourself into action.

The test is simply a way of seeing how you would respond to a certain set of eventualities. 

When I was in the Marine Corps we practiced war games so we’d be ready in case we actually had to defend our nation, thank God we did because, #@$% happens.

We’d go through exercises to prepare and we’d evaluate our preparedness.

Are you prepared for 2010?

This Stress Tests may help you plan for the next 10 months and beyond.

Scenario#1. What would happen if your income dipped 40% in the next 11 months?

Are you prepared? 

Most folks are not and if you are not don’t worry. Simply begin preparing now. You might say, ‘Well that will never happen’ but it happens every day. People lose their jobs, have health issues, cars break down, kids go off to college, roofs need replacing, etc..These are, for most people,  treated as emergencies rather than expected eventualities so having an emergency fund and a sinking fund in place is essential to managing your finances, business and personal.

Are you prepared?

What is your plan?

People often talk in terms of ‘emergency’ or ‘crisis’ when, in fact, most so-called emergencies are very predictable.  We simply don’t prepare for the expected we ‘wish’ bad things away but the “unexpected” is only unexpected if you’ve spend you time ignoring the inevitable rather than preparing for the eventuality.

#@$% happens, as they say. So prepared for #@#$ to happen, because it will.

This is life and life happens, prepared or not.

Step 1. Determine how much you need to pay your bills-your monthly expenses.

Step 2. Save 3 to 6 months in an Emergency fund and put it in a money market account–NOTE, this is not an investment so don’t put it in the stock market and it is to be used for emergencies ONLY.

Step 3. Set up a Sinking Fund. Corporations have them. They are also known as contingency funds and are simply a pool of money set aside regularly to cover known eventual needs like car replacement, phone replacement, computer replacement, etc..  We all know we’ll have to replace a roof, so save for it, monthly. We all know we have to replace the car, so save for it monthly. We all know that are kids are going to need clothes and Christmas gifts, so save for it,  monthly

Step 4. When the ‘eventality’ comes and they will, resources will be available to meet them.

Then, so-called, Emergencies will sting less, trust me.

Read more here…

Real Estate Rock Stars need the right tools

 Rock Stars need the right tools so I thought it might be helpful if I shared some resources I use when making decisions on what to buy.

The 2009 Realtor® Tech Survey’s top three tools that respondents plan on purchasing or replacing in the next year are: Smart Phone (42%), Laptop (34%), Digital Camera (26%).

These three tools have almost become necessity in our business today. Here’s a list of some of the top online review sites for all 3 products to assist everyone in making intelligent and well informed purchases.

Laptops and Notebooks

More Laptop and Notebook Reviews

 

Digital and Video Cameras

 More even Ipods

*A special note for our online lead generation clients. Lead gen clients are be best served by getting a Blackberry as opposed to any other smart phone including an Iphone…Call me for further explanation on why this is so vital to conversion.

It’s not what you say, it is how you say it

It’s not what you say, it is how you say what you say, that’s important OR is it?

It is mostly some of both and a bit more…

If you’ve been in the biz for anytime at all you’ve no-doubt heard folks say things that make you shutter. I have heard novice and so-called “veteran” agents alike, well-intended as they may be, shoot themselves in the foot in an ‘all out’ effort to protect their clients’ best interest. When, in most cases, the agent had no idea ( because they hadn’t bothered to ask) what the best interest of their client was, mostly because they hadn’t bothered to ask or more often than not, they hadn’t bothered to listen.

I once heard a guy say once that the reason God gave us one mouth and two ears was because He intended for us to listen more than we speak and I’ve found this to be true.

“When I listen, I learn and when I speak, I dispell all doubt that I’ve ever taken the time to listen,” a fellow once said.

I’ve learned over the years that if you learn to ask penetrating open-ended questions you will, more often than not, gain  insight into their ”why” and in no time at all you’ll be able to serve them in exactly the way they need or better yet desire to be served.

By asking penetrating questions and then listening with your whole being you’ll find that clients often share exactly what their needs are and this will assist you in serving them.

Take time to listen, then speak the truth, not just A truth,  honestly.

Doing so will go along way in growing your reputation in a good way.

2010 Game Plan

As we finish up 2009 and head into 2010 I know many agents are doing their planning and goal setting for the coming year.

So, I thought I’d pass along some information and tools that have helped shape my business and may help yours going into 2010.

First off, the hottest topics in RE these days are: Online Lead Generation, Listing Syndication, Blogging, Social Networking etc…My team in Ann Arbor is doing all these –  but we NEVER take our eye off the “sphere of influence” target either.

For example,

1. Any entity or person that I pay money to, I solicit business from. I call upon: my lawyer, financial planner, estate planner, insurance providers, lenders, contractors, auto dealerships, etc… I basically reaffirm my desire to help them grow their businesses and ask them to commit to helping me grow my business.

2.  I send an email to all my clients thanking them for putting their trust in me. And I ask them to keep me in mind when they hear of anyone anywhere needing to buy or sell. I also tell them that during the holidays they’ll hear friends, colleagues, relatives and neighbors talk about their plans…I ask them to tell these folks about their experience with me and to pass my name and number along.

(A good portion of my business comes as a direct result of referrals and I can attribute ASKING, SEEKING and KNOCKING to all that business-the Lord is good!)

Many of you have asked how I syndicate my listings and although I won’t share the entire system with you HERE - I will tell you that you need to get your listings on Wellcomemat, Craigslist and Vflyer ASAP and commit to learning a bit about blogging and Twitter, too.

1.  Wellcomemat–http://www.wellcomemat.com/team366

2.  Craigslist–Craigslist is one of the most visited sites on the internet and getting your listings on there has two benefits: Listing exposure & lead generation.

3.  vFlyer–Go to http://vflyer.com/ and see how it works…

4. If you have a blog, get great new material by setting up a Google account here: http://Google.com. Then go into settings and set up an ALERT for the type of information you are interested in blogging about.You’ll get a steady flow of great topics and will never lack for something to blog about!

5. Facebook – Post listings and rentals on your facebook account. In our town, Ann Arbor, MI, students who are using Facebook as there social networking platform run into our RENTALS posted there and we have been fairly successful getting student rentals rented.

6. Commit to learning a bit about Twitter as well in 2010…There are many ways to spend time and I haven’t embraced this yet but I’m willing to learn and maybe this tme next year, I’ll be singing the Twitter praise as well…

These ideas have helped me weather the storm and even prosper.

So commit to implementing at least one of these stategies  in 2010. I’m certain that if you do you’ll increase the number of listings you sell and buyers you serve.

Have an outstanding Holiday Season and a Happy, Healthy and Prosperous 2010..