Tuesday, October 3, 2017

How to Get More Done in 12 Weeks Than Most Do in 12 Months!

The theory behind the 12 week cycle is periodization… 

A concept when you focus intensely on income producing activities (IPA’s) for a 12 week period …then you take a 7 day break for rest and recovery before moving on to the next cycle.

Setting 12 week goals will help you focus then reward your hard work with a 7 day “vacation” before restarting the cycle with renewed focus.

How to get started:
  •       To change your actions you have to change your thinking. Think shorter term, set fewer obtainable goals, and then plan your reward if you reach them. One reason few people reach their goals is they think too long term… they lose focus… they start to procrastinate, then they give up.
  •      Put it all in writing… “What gets written…gets done”. Nothing is achieved without a clear vision, planning, process control, measurement, and proper time and energy management.
  •    Stay Accountable to yourself… Accountability is not about “consequences” it is about taking ownership for your actions. There is always a choice to be made… think of your daily IPA’s as an action of choice rather than a burden and it will create a feeling of empowerment.
  •      Commitment… You must have a strong desire to reach the goals you set in order to achieve them. Unless commitment is made you have only empty hopes and dreams. The thought of a 12 week sprint is easier to commit to than a 12 month marathon.
  •     Self-Improvement… Focus on improving one skill or habit for each 12 week period… ONLY ONE!  This will allow you to put laser focus on the self-improvement upgrade.
  •      Relationship Improvement: Select 12 business contacts during each cycle and focus on improving your relationship with each of them during the cycle.  Lunches, Coffee, Cocktails, etc. show them you care first… the referrals will follow later.


Put the power of focus to work in your business… Start designing your plans for 2018 now!

Tuesday, July 25, 2017

How to Cope With the Summer Slow-Down in Real Estate


It's Summer...It's HOT... Where did all the Buyers Go?

Anyone who has been in Real Estate for any length of time knows how cyclical the market can be. Tax Time, Summer Vacations, Back to School, and Major Holidays can sometimes put the brakes on even the hottest markets. Coupled with the “roller coaster” effect inconsistent prospecting creates, and you have the perfect set-up for a few bad business months… (Where you seem to always be scrambling for prospective buyers and sellers).

Step One: To lessen the side effects of the normal cycles of the real estate market stay consistent with your prospecting and networking with your database. Only 20% of REALTORS have a system in place to manage their database … Only 5% use it consistently… This 5% has an average yearly net income over $200,000. Lesson #1 learned… Get a System…Lesson #2 USE IT!

Realtor Rescue Coaching implements a system appropriately named “THE FIVE”©. This is a simple to learn and utilize system of 5 different types of contact per day…  5 days each week. This equates to approximately 25 contacts per week of voice to voice, face to face, hand written notes, electronic communication, and breaking bread (lunch or coffee meetings).

For most this seems like a daunting number… I often get this response… “I have to contact 25 people each week??? Really Eddie…are you on drugs?” … (or some just look at me like I have 3 heads)… But I promise…it is really is much simpler than it seems.

Daily Scenario: You call a past client and invite them to Starbucks for coffee… 1 call, 1 coffee… after the Starbucks visit you send them a hand written note via snail mail thanking them for meeting with you (and again asking for referrals)… there goes your 3rd contact…

While at the grocery store picking up your dinner you see a neighbor and have a quick discussion about the swim meet at the pool and you ask them to remember you if they hear of anyone buying or selling ….there goes your face-to face and contact #4.

So all that is left is your electronic communique… Will any of you send any personal emails, or go onto social media after you have dinner? Yeah I thought so….BINGO there’s your “FIVE” for the day… Easy Peezy!   

Step Two: Is to get an accountability partner to hold you to your promise to yourself so you can reach your goal of 5 contacts 5 days each week. Also have a set of written goals for your transaction numbers and income for the next 3-6 months. Consistency is the key…your “easy button”… Your “partner” can be a spouse or significant other or another agent where you can hold each other accountable to your goals.

Step Three: “Aim Small and Miss Small”  Don’t aim at the whole target…pick a spot on the target and focus on it intensely… so even if you miss the small spot you were focused on, you will still be on the target.

Example…. Don’t focus on a goal of $100,000 in income… nor the 30 closed transactions needed to generate $100,000 in income… don’t even consider this equates to 2.5 monthly closed transactions … Do calculate the number of contacts you need per day to generate your income goal and focus on completing them each day. Even if you miss a few contact goals here and there… you most likely will still be on target at year end.

When the market slows down… it gives you more time to “speed-up” your marketing efforts. When everyone else is complaining about the lack of business…you will be shifting into a higher gear and waving to them in the rear view mirror… yelling…. STAY ALIVE WITH THE FIVE!!!!!

For more information on Realtor Rescue Coaching and “THE FIVE” contact


Eddie Brown © July 2017

 

Thursday, July 20, 2017

So the buyer for my new listing SAID they were paying cash.....

Can a buyer do a cash/loan switch-er-oo?

Release Date: 07/18/2017
Will Martin , Martin & Gifford, PLLC


QUESTION: In the latest version of the Offer to Purchase and Contract (form 2-T; copyright 7/2017), there’s a change in paragraph 5(a) I don’t understand.  Before the change, the buyer had to check whether they did or did not have to obtain a loan in order to purchase the property. Now the buyer has to check whether or not they “intend” to obtain a loan to purchase the property.  Why the change in wording?  Why does it matter whether the buyer says they don’t “have” to obtain a loan or they don’t “intend” to obtain a loan?  If they demonstrate they can pay cash, what business is it of the seller if the buyer ends up getting a loan?


ANSWER: First of all, we disagree that it doesn’t necessarily matter to the seller if a “cash” buyer ultimately gets a loan to pay for the property.  For example, assume a seller is evaluating two offers.  The first one is a “cash” offer and the second one involves financing.  The second offer is for more money, but the seller decides to accept the first offer because the first buyer demonstrates that they can pay cash for the property.  After the contract is signed, the buyer announces that they will be obtaining financing.  Although it’s true that the seller knows the buyer will be able to pay cash if there’s a problem with the loan, it’s also possible that had the seller known the first buyer would be seeking financing, they may have accepted the second offer for more money. 
The change will NOT prohibit a “cash” buyer from deciding to finance their purchase after contract formation, but it will prohibit a buyer who is acting in good faith from leading the seller to believe that they are going to pay cash when in fact they intend to get a loan. In our view, a buyer who misrepresents their intent to pay cash is arguably in breach of contract and subject to losing their earnest money deposit.  Of course, the buyer’s true intent may be difficult to prove, but it is hoped that the new wording will deter a conscientious buyer from using the loan representation in a way that is potentially misleading to the seller. 

NC REALTORS® provides articles on legal topics as a member service. They are general statements of applicable legal and ethical principles for member education only. They do not constitute legal advice. The services of a private attorney should be sought for legal advice.

© Copyright  2017. North Carolina Association of REALTORS®, Inc. This article is intended solely for the benefit of NC REALTORS® members, who may reproduce and distribute it to other NC REALTORS® members and their clients, provided it is reproduced in its entirety without any change to its format or content, including disclaimer and copyright notice, and provided that any such reproduction is not intended for monetary gain. Any unauthorized reproduction, use or distribution is prohibited.