Help Your Clients Find the Best Mortgage Lenders

When you sell a home, your client will be paying a mortgage for possibly 10, 15, or 30 years or more. Make sure that they remember you fondly and respectfully for recommending the right way to find a mortgage lender. Especially within the last decade, mortgages have become more complicated, diverse, and highly regulated. You can be a hero by patiently steering your client through this intimidating and often overwhelming process. Consider these tips to share with your clients: Get a head start on the mortgage process Ask your clients how long they plan on living in the home, how much of a ...

Educating First-Time Homeowners on Expenses

Although buying a home is still the core of the American Dream, most first-time homebuyers find the process intimidating and mysterious. Here’s your chance to help your clients better understand the homebuying process, and to educate them on many of the related expenses that first-time homebuyers often miss. Since buying a home is more than likely going to be the biggest purchase your client ever makes, keep them on guard by making them aware of the expenses that go beyond the cost of the house. Zillow reports that, on average, Americans pay about $9,000 a year in extra costs. ...

Appraisal Goes Digital

Appraisers – professionals who estimate the value of a home before a lender gives the buyer a mortgage – may be going the way of the telemarketer and the toll booth operator. Bloomberg reports that advances in big data are bringing automation to professions that once depended solely on human brain power. Looking at the larger picture, Fortune predicts that robots could steal 40% of U.S. jobs by 2030. Fannie Mae and Freddie Mac – the two largest institutions for funding home loans – have started a program that would waive the new appraisal requirement for homes with a low ...

Agents: Connect to These Professional Organizations

You already know the most vital way to build your business – networking. Joining professional organizations can increase your networking potential to the tenth power, as you combine forces with similarly ambitious professionals who have the same goal as you – success. Consider being a part of these organizations that can help you step up to the next level of your career. And they can benefit from your expertise and experience as well. National Association of REALTORS The National Association of REALTORS® is America’s largest trade association, representing 1.3 million members, including NAR’s institutes, societies, and councils, involved in all ...

Keep an Eye on these Real Estate Trends in 2018

As the real estate business continues to be altered by technology, housing supply will catch up with buyer demand, putting buyers in the driver’s seat. So fasten your seat belts – the ride will be fast but ultimately stable. Realtor.com reports that, after three years of a housing shortfall, a spurt in inventory will begin in the second half of the year. Once inventory recovers, there will be plenty of demand to meet the supply. The site predicts that the for-sale housing inventory is expected to stay tight in the first quarter, reaching a 4 % year-over-year decline in March. ...

Starting Your Own Brokerage

It’s the American Way – forging your own path and taking your own ideas, plans and ambitions with you. The idea of owning a brokerage is appealing to many passionate professionals. Consider these tips if you’re considering branching out on your own: Create a business plan This task will give you a bird’s eye view of how your business will come together. It will answer questions ahead of time, and make you ask questions that you didn’t originally think to ask. Most importantly among the issues to tackle: money. A business plan forces you to think in terms of budget, resources and ...

Things That Can Weaken a Buyer’s Position

One of the toughest situations as a real estate agent is representing a buyer in a multiple offer situation. You and your client do your best to submit an offer that is competitive, but you have absolutely no idea how much is necessary to secure the deal. Obviously, the most important part of your offer is the price. However, there are many other details that may lead buyers to pass up your offer even if it’s the best price. Here are a number of things that might undermine your bid. Low option fee The ...

Review Your Past Year’s Performance for a Better 2018

Maybe it’s been a great year for you. Maybe it hasn’t been so great. Either way, if you’ve got some free time over the holidays, it’s worthwhile to sit down and try to calmly and collectively assess your past year of work. Here are a few things to consider. What drove the most leads? In the marketing business, it’s called lead attribution. Start by making a list of how you acquired each and every lead to determine what marketing activity made it possible: networking events, advertising in the local community newsletter, Facebook posts with sponsored boosts, ...

The Joy Is in Getting There! By Barbara Corcoran

I had just dropped my son off at school and had a few errands to run. Notably, I wanted to pick up my weekly $6 bunch of flowers from the Korean deli around the corner. When I approached the register I realized I didn’t have any cash and the grocer didn’t take plastic. I left the flowers on the counter and dashed across the street to the Citi bank ATM to withdraw my usual $200. Everything about the ATM transaction went as it had gone a hundred times before. The familiar tat-a-tat-a-tat ...

2018 Real Estate Outlook

As we look ahead to 2018, you should still be feeling good about the real estate industry. A number of important economic factors will continue to make housing a profitable profession, but there are some areas of concern that you should be wary of as you craft your long-term business plans. The following are the biggest takeaways from the real estate market as we begin the new year. A strong economy will continue to drive the housing market The stock market is at record highs and so is the consumer confidence, a strong indicator of whether ...