Melissa Krchnak
By Melissa Krchnak
Do you have a wig?
No, I’m au natural.
I’ve been learning about “The 4 Disciplines of Execution” and getting my Wildly Important Goal (WIG) figured out.
Oh, that kind of a WIG… Yea, I’ve got one of those!
Most of us do not have a problem coming up with great ideas. Hell, we could revolutionize our industry with all the awesome thoughts we have throughout the day. It’s the plan for execution we trip on. Yep, I’ve got those bruises, too.
So, figure out what’s your first domino: What is the “ONE Thing” that will make all your other little goals easier or unnecessary when you achieve it? That, my friends, is your WIG.
There are three other steps, which I will discuss in my future YPN Lounge posts. However, you have to build a rock-solid foundation before you throw up beams and a roof and call it a home. Nail the first discipline then move on to the second.
Melissa Krchnak is the team leader for Keller Williams in Pikesville, MD. Connect with her on Twitter @mkrchnak.
Scott Newman
By Scott Newman
The market is recovering—in some areas it’s even a seller’s market—and that means sellers can once again be a little more demanding…and a little more unrealistic.
So your client is turning into a “sellerzilla.” What do you do when your relationship with the client is on the line, but you need to get your point across? Read on…
Show Them, Don’t Tell Them
If my seller client isn’t willing to listen to my pricing advice and they think they know better me, I prove to them that I’m right. But I don’t do this through arguing, CMAs, or anything of that nature. Instead, I utilize their own two eyes.
If your client wants to list for $275,000 and you know the house won’t sell for more than $240,000, schedule 45-60 minutes with your seller prior to listing their home and take them to see homes for $275,000. When your client sees that the homes in his or her intended price point are bigger, nicer, and overall more appealing, then you significantly strengthen your argument without having to risk isolating your client.
Stay Consistent
They say it takes 21 days of doing something everyday to make it a habit. The same concept comes into play with unrealistic sellers. Continue reading »
Adam Ailion
By Adam Ailion
If you are anything like me, you are tired of hearing about the latest and greatest app you have to learn how to use, or the next best service to buy. My mind is going through “technology overload,” making it difficult to stay current — and many times a good idea or service may go unnoticed.
Let me start off by saying I am frugal when it comes to spending money on tools to grow my business. It might not always be a positive trait to have, but on the plus-side, if I buy into something it has to be good — so listen up.
Last month I was at a technology summit where a real estate panelist mentioned a new service called “FiveStreet,” which was revolutionizing his business by consolidating his online prospects. I have been on the quest for something like this for more than three years, so hearing that this product is available got me a bit excited.
If your business is anything like ours, we get 15-25 inbound leads a day. It has been a constant struggle to manually input all the data, respond to all online inquiries in a timely manner, properly track them to see where they all come from, all while being able to route them to the proper team of agents. We’ve tried our hand at various CRM tools, and we boast about being equipped with tools to serve our business. But one thing I have noticed over the years is that many of the CRM software providers don’t fully communicate with the real estate syndicate websites. There is always a missing piece to the puzzle. This FiveStreet service seems to be the missing piece of the puzzle that can tie it all together. Continue reading »
Dave Robison
By Dave Robison
In the midst of the government shutdown, we are still working with our clients to get their deals closed. Yes, the FHA is still committed to getting loans processed, but other government entities are closed, including the IRS. Lenders require a 4506-T form, but the IRS is now unable to fulfill requests. So what does this mean? If your lender requires this, the loan won’t close until the IRS reopens, thus putting your deal at risk. Some lenders are waiving the 4506-T requirement, with income verification to follow later. But you can be proactive and help your clients. Here are some tips:
1. Contact any buyers you currently have under contract and talk to their lender about this. Evaluate your buyer’s current situation and determine if they have the ability to close or not.
2. If the lender needs the 4506-T and doesn’t have it from the IRS, then your buyer’s earnest money may be at risk. Check your due diligence deadlines and possibly extend them.
3. Talk to your sellers and warn them of the potential issue of delayed closings. Be proactive right now so your sellers don’t pack up and then their home doesn’t close. Show them you are a professional and proactive in helping alleviate stress.
4. Renegotiate with sellers on closing dates, if possible. The odds are in your favor, as the only way a seller can close with a different buyer is if they find a cash buyer.
5. Start contacting your representatives in Congress. And while you are at it…donate to RPAC!
6. Stay up-to-date with the government shutdown and its impact on real estate here: www.realtor.org/articles/government-shutdown-updates
If you are seeing any workarounds regarding this issue, please post a comment. Also, if you are experiencing other issues related to the shutdown, let us know!
Dave Robison, known as “Utah Dave,” is broker/owner of UtahDave.com Neighborhood Experts.
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