Monday, January 23, 2017

How Real Estate Professionals Can Stay on Track and In Love With the Business with a clear Mission and Purpose.

There’s nothing like a crystallized Mission to clear your vision and help you focus on only the relevant tasks that will make that overriding goal a reality. By first defining a Mission Statement that you can wholeheartedly commit to and identify with, you protect yourself against the Time Bandits like Uncertainty and Busy Work that will leech away your energy and concentration.

Now, many in our business break their Mission down into two statements: one defines their purpose and the other is their personal motivator that gets them up in the morning.

For example:

My Mission is…

To make the buying and selling of real estate as cost-effective as possible, while maintaining the highest level of service. To provide accurate and up-to-date information, skilled analysis and sound real estate advice. To continually explore new ideas and technology, to make the selling and buying of real estate faster, less costly, and easier for the consumer.

My Future Vision is…

To be the leading Real Estate Agent from North to South Richmond, always exceeding my customers’ expectations and providing them with a totally positive service experience.


In short: to provide the best service and to be recognized for it.


You’ll notice that neither statement mentions money. Do you wonder why?

Money doesn’t motivate. What you can do with it might, at least for a while, but ultimately there has to be more to life if you’re going to keep enjoying what you do and being rewarded for it.

Enjoying the business is motivating. Learning new things, interacting with positive people, putting together creative deals – now, that’s motivating. Not wasting your time on extraneous tasks is motivating. And, if you conquer those goals, you’ll be a success and LOVE doing it.


Let’s take a look at how you can optimize your time and stay excited in this business:


Define Your Mission to Reflect Your Goals and Values: What do you want your business to achieve? How do want people to think of you? Don’t get sidetracked by focusing on how much you can make or how soon you can retire – those ideas won’t sustain success. Instead, concentrate on developing your company as a complementary reflection of the best version of yourself. As an agent, you’re in the business of helping people come home. You facilitate them in achieving the life they want and, along the way, you reap the rewards within your own life.


Once you are clear about your goals and direction, you will save yourself inordinate amounts of time. From this point forward, when faced with a new decision, you can simply refer back to your Mission and ask yourself, does it fit? You now also have an encapsulation of your business that you can provide to clients if they’re unsure about your values.


Get Comfortable Saying “No” to the Time Bandits: Success attracts attention from all manner of sources and, especially if you’re a ‘people person,’ you’ll be approached with numerous requests for your time. To stay motivated, effective and efficient, you’ll need to say “NO” (politely) more often. It becomes easier with practice although, at first, you’ll find yourself frequently referring to your Mission and Purpose for clarity. In the end, you’ll discover that your own respect for your time and goals will be reflected by those who come to you. Finally, they will understand what you’re about and what you value in life and business.


Learn from Everything and Keep Exploring: Every mistake or disappointment holds a lesson within, if you choose to learn it. And, once you do, you save time by not repeating that negative experience. Often, such analysis will also uncover new ideas and, if you’re serious about building your business, you’ll want as many of them as possible:

  • Identify resources you can trust and draw from them.
  • Try new activities and take on learning projects – your brain is a muscle and needs to flex.
  • Keep up-to-date with current affairs and local news.

As you accumulate knowledge, keep asking yourself, “How can I apply this idea to my business or personal development?

Associate with Positive People from All Walks of Life: As long as those around you are creative, constructive and energetic, it doesn’t matter if they’re in the same business or not. Their energy will feed your own and you’ll learn more from other disciplines than you would if you limit yourself to just one sector. As a side benefit, this varied interaction also increases your referral base as long as you don’t ‘sell’ yourself.


Train your Assistants and New Associates with Care and actively listen to their ideas and suggestions. Fresh input is vital for maintaining your own motivation, but be careful about how you ask for it. A business will stagnate if the major players are too alike, but they must at least share similar values and goals. Even opposing opinions can be energizing if you keep a sense of perspective and objectivity.

Balance your Business Activities with Rest and Diverse Pastimes: Overworking is not efficient. You make poor decisions and communicate ineffectively when you’re tired, which wastes more time than it saves. Replenish your energy with complete rest and hobbies that totally transport you away from your work activities.


Reward Yourself for Achievements and Completions, and celebrate the success of others. Even if it’s just a small reward like a fancy coffee, take a little time to mark the win, it does wonders for everyone’s motivation.

The combined impact of Mission and Motivation cannot be overstated in terms of how much time they will save you every day. If you can marry the two, you’ll also create a synergy that will energize you even in the slow times and downturns. And, as you and your business mature over time, don’t forget to revisit your Mission so that it remains in harmony with changing goals and refined values.


About the Author:

Cindy Bishop is the CEO and founder of Cindy Bishop Worldwide, LLC; a real estate education, coaching and consulting practice focused on transforming individuals, brokerages and leadership teams to achieve superior strategic business outcomes. Cindy brings extensive business development experience from her corporate and real estate career to guide her clients through educational processes to maximize their potential from start-up, survival, turnaround and growth modes.


Thursday, January 19, 2017

VHDA Mortgage Credit Certificates

The Virginia Housing Development Authority (VHDA) has been helping low and moderate income buyers purchase their first homes in Virginia since 1973.  Historically they have done this by offering below market interest rates and 0 down home loans to purchasers who meet maximum income requirements.

 

They are currently offering mortgage credit certificates.  A mortgage credit certificate allows a homeowner to take a tax deduction equal to 20% of the interest paid as a tax credit as opposed to a tax deduction.  This makes the after tax cost of homeownership lower.

 

For example:

In Northern Virginia the annual income limits for a household of 1 or 2 people is $121,900.  For a household of 3 or more, the income limit is $142,300.

 

This program can be combined with Down Payment Assistance grants (though lower income limits apply).


Jeff Divack is the contributor of this article and prides himself on building his business with strong lifelong relationships and educating his clients on the  mortgage process and the wide range of loan options that are available. 

Contact Jeff Divack, Senior VP Intercoastal Mortgage
Cell: 703.867.5644

jeffd@icmtg.com



Wednesday, January 18, 2017

SOCIAL MEDIA STRATEGY FOR REAL ESTATE AGENTS

This is the time of year when we have to wonder how a social media strategy is going to enhance our real estate business.

This is also the time of year when we have been inundated with goal-setting ideas, goal-setting information, goal-setting seminars, books, (shall I go on?).   Part of our goal setting is including social media strategies that grow our business. In spite of the overwhelming amount of goal-setting suggestions, it is refreshing at the beginning of a new year to have this opportunity to replace that old 2016 wall calendar (a reminder of what was), and look forward to how we will fill the new calendar with our dreamed achievements.


We all probably have established a BHAG (Big Hairy Audacious™ Goal) so we have our best year yet.  Using social media strategies as a large part of our goal setting is critical and the most advanced and serious among us will have a picture of what that exactly looks like. I would challenge you with this very important thought – have you also set the “process” goals for what that looks like (allow me to give credit to my online mentor, Darren Hardy for this initiative)?  What are the daily steps you should be taking to move toward that BHAG? What are the things you need to get better at and learn that will move you in that direction?

So much of any of our businesses growth is determined by having a solid lead generation process goal in place.  How important is social media strategy marketing to your lead generation strategy?

Consider these few facts about real estate professionals and the internet:

  • 80% of all home buyers are searching online
  • Gen Y and millennials make up 68% of all first time home buyers
  • 62% of Millennials feel that online content drives their loyalty to a brand
  • 91% of Realtors use social media marketing

Have you established your social media process goals to help bring about your BHAG? What areas of social media need to be refreshed? . . . need to be eliminated? . . . need to get started? And once you have that plan in place – then it is a matter of using your time to make sure your activity is bringing about the desired result.  And what should that result look like?  Are likes, follows, connections and brand awareness enough?  Or are you looking for a more profitable engagement and return on the time you invest into social media?

Setting process goals that determine the steps you will take and the kind of things you share with your audience using social media sites and beneficial social media strategies can net meaningful results for 2017. Consider all of the ways you can establish your expertise, knowledge, and value as a resource for the connections you have, then pursue that with an eye on creating opportunities for likes, comments, shares, follows AND leads for your business!


About the Author:
David Redabaugh is the founder of a digital marketing company, where businesses, professionals, and entrepreneurs are able to have solutions custom created for impact and authenticity with their brand online. His job is showing, helping, and training his clients to market effectively online using social media strategies.

As a trainer for Cindy Bishop Worldwide, LLC, he has been able to form a niche working with real estate professionals to create the strategies for their internet marketing that deliver results and create meaningful client and referral relationships. Dave brings extensive training experience from his corporate marketing and advertising experiences to guide his clients through the processes that help them create and maintain impactful social media and website strategies.

Tuesday, January 17, 2017

Use Your Content To Build Lasting Relationships

As the number of first-time buyers drops to 32% (according to the latest survey, Profile of Home Buyers and Sellers), it becomes even more important to develop ongoing relationships with existing clients and become as indispensable as possible to prospective buyers looking for their own home.

With 88% of prospects searching via websites, we realtors have an enviable opportunity to attract new business as well as retain the clients we do have based on the content we offer on our sites.

To put it simply, the more you can differentiate yourself with your online presence and become perceived as a reputable resource, the more business you’ll get.

As a memory aid for the imperatives that drives this, I think of ARC (forming a bridge between you and the repeat profit potential out there):

Available: Offer as many ways to contact you as you can on the website – with links and contact info on each page. However, even more important is to respond to any inquires or questions as quickly as possible – even if you have to report that you need more time to fully answer the query.

If you must delegate this task, make sure your assistant or associate is responding with the same tone and quality of reply as you would.

Relevant: Flip your perspective and imagine what kind of content will inform or assist your prospects and clients. The more value you can deliver, the more credibility and loyalty you build in advance of those people making buying decisions.

Here are a few suggestions of the type of content that would benefit your visitors:

·        -Mortgage information and rates.

·        -City and planning initiatives that impact neighborhoods.

·        -School reports and community developments.

·        -Creation and improvement of parks and green spaces.

·        -Information that affects commuters and users of public transit.

·        -News about the establishment or upgrading of services and utilities.

Current: Site visitors need to see updated content as often as you’re able. This means staying on top of the news, trade reports and local plans. Of course, you can only do so much, so consider enlisting a colleague to share the load. You can also feature content from other sites, as long as your fully credit your sources. The truth is, the more you can update and vary your content, the greater your own exposure and reputation as a credible source becomes.

Site visitors will return to you and even recommend you to others if you can build this ARC into your web presence. Think of it as an ongoing conversation with existing and potential clients. It establishes and increases client loyalty, which serves to influence those buyers and sellers when they’re ready to leap into action – your content is the great persuader and will produce more leads and business for your company.


Cindy Bishop is the CEO and founder of Cindy Bishop Worldwide, LLC; a real estate education, coaching and consulting practice focused on transforming individuals, brokerages and leadership teams to achieve superior strategic business outcomes. Cindy brings extensive business development experience from her corporate and real estate career to guide her clients through educational processes to maximize their potential from start-up, survival, turnaround and growth modes.