Articles

Many sales trainers will tell you that the key to obtaining more referrals is asking for the business. Absolutely false. If it were true, why have trainers been beating this into our heads for years and most of us still are not comfortable asking? The key to getting more referrals is putting ourselves in the position to ask. When we place ourselves in the right position, the business transaction will take place naturally. If it feels uncomfortable or is forced–it is not right. Of course, an important question follows: How do you put yourself in a position to ask? This ...

You have heard it before. Owning a home is a great tax deduction. It is one thing to make a general statement. It is another to understand the specifics of how owning a home may lower your tax liability. Below is a list of important points that every homeowner should know. Note that this is not a complete list of allowable deductions. Itemizing deductions. In order to deduct your mortgage interest, you must itemize deductions rather than take the standard deduction. As a general example, if your allowable standard deduction is $12,000 and you only have $6,000 in itemized deductions, you will ...

Buying a home or refinancing a home mortgage remains one of the most important financial decisions one will make in a lifetime.  There are very few personal decisions one can make which involves such an important investment, both in terms of economics and in terms of psychological well-being. It stands to reason that the average consumer hopes that the process of purchasing a home will be a pleasant experience.  Of course, we never wish our experiences not to be pleasant but when the stakes are so high, we would especially like the process to go smoothly.  Why not remember our ...

Because of the most recent COVID-induced recession, there continues to be a strain on the budgets of the average American.  Even though homes have increased in value, many Americans remain over-burdened with debt. There is a way out of this dilemma for the average American. The solution will require prudent fiscal management and planning, things that many of us are not used to implementing. The first step towards fiscal sanity and achieving the American dream of a comfortable retirement is to lower or eliminate all debt payments. Lowering or eliminating your debt payments can also be a daunting task when ...

There is no doubt about the fact that home improvements represent a significant financial investment for the average homeowner. They also represent an opportunity to improve one’s quality of life. Along with the economic aspects of the home improvement decision, there are many other areas that you must consider before you move forward with any project. For example, first you must decide your goal for the project. Are you looking to update outdated or even run-down aspects of your living environment? Are you looking to add quality living space? Or perhaps you are attempting to ready your home for immediate or eventual sale. There is ...

The market for first-time home buyers is getting hot again. Millennials are moving out of their homes and rental costs are going up, which means that many are poised to purchase as their next step.  Minorities and single women are segments that are accounting for most of the growth within this sector. Whether you are a real estate agent, insurance agent, tax professional, loan officer or other professional, it is hard not to be effected by this market. Quite the contrary, many are stepping up to focus upon this segment of the market. This is not a short-term gold rush ...

This has certainly been an interesting several years for the housing markets. The prices of homes have been anything but stable during the past several years. First, home prices were increasing at a frenetic pace. We then saw a drop in home prices in most areas of the country and the drop was even more precipitous in those areas that experienced the largest increases earlier. Then for several years, home prices recovered significantly. Finally, in the midst of the pandemic, house prices increased at an even greater frenetic pace. No one has been affected more by this “housing valuation yo-yo” than the ...

While much homeownership "suitability" analysis focuses within the area of finances, there are also other "non-financial" questions with regard to suitability. For example... •Is this house in the right location? Location may be important with regard to commuting to jobs and activities. With higher energy costs and increased traffic in urban areas, commuting takes on a higher level of significance. •Is the home large enough for my present and future family and is this where I want to raise them? This issue requires not only the analysis of family size and school districts, but also the proximity to activities and ...

Credibility and trust. Selling is a relationship business and without these key elements any sales person will be struggling in the dark tryingto overcome an enormous handicap. What do you say when a potential seller or purchaser asks the key question: Why should I do business with you? Do you think that anyone has answered that question with the truth if the real estate agent in question does not return phone calls or is generally a poorly educated or prepared agent? The standard answer? Because I am a great agent or ------ and I will do a great job! Think ...

Many would-be homebuyers overlook the benefits of a VA loan when searching for a home.  The VA Mortgage Program is administered by the Department of Veterans Affairs and exists as a benefit to veterans, reservists and active military and also makes Native American Direct loans. The program is beneficial in helping those eligible to purchase because of several important reasons: •For those who retain full eligibility, there is no down payment required. Most mortgages with 100% financing have gone by the wayside, but not only has VA maintained this benefit, VA mortgages have consistently outperformed national averages. •VA allows the seller ...

The purchase of a home is the goal of the vast majority of Americans.  That is why home ownership is often referred to as “The American Dream of Home Ownership.”   Almost two-thirds of Americans have taken advantage of the economic and social benefits to become home owners.  Even with rising prices and interest rates, homes are still more affordable than renting in the long run in most areas of the country. One area that keeps many Americans from reaching this goal is the difficulty of  qualifying for a mortgage.  The financial crisis of 2008 caused  lenders to scrutinize loan applications ...

There are more choices to finance properties today than there were just a few years ago. First, a little bit of history. During the real estate boom of ten years ago, lenders offered choices that fit just about everyone — from no-income verification loans to loans with no money down and poor credit. This was known as the “subprime boom.” In the wake of the financial crisis, these choices completely shut down and the only choices were loans for those who had money to make a larger down payment and a great credit score, especially if the loan was a ...

Many sales professionals always seem to be searching for that "secret to success." These leads many attend "Superstar" events in which the attendees get to hear from those who are very successful and are trying to impart their secrets of success. Unfortunately, at these events the speakers can't really tell the attendees the secret. Instead, they go over a whole list of marketing activities and scripts they either use or should be using. While these are all good ideas, they don't come close to addressing why the speakers are so successful and the attendees are not quite as successful. Why ...

We have written many times about the advantages of becoming an expert within your chosen field. Among other things– • Being an expert will help differentiate yourself from the competition in a positive way; • Being an expert will put you in a position of giving advice, rather than selling; • People seek out experts • Experts charge more However, becoming an expert is not enough by itself. You must implement a business model that revolves around becoming an expert. This business model starts by making sure everyone within your sphere knows you are an expert. Think about this… 1 ...

If you are in business, then you will be a participant to many negotiations in your business career. For example, real estate professionals are integrally involved in the process of sales contract negotiations. Even though an agent may “represent” the seller or buyer, their negotiation skills will be paramount to closing the deal as details such as the occupancy date get hammered out. Negotiations are not reserved for contracts or transactions. We may be involved in negotiations as we set our prices, service levels and even consider requests for refunds. Approaching the process in the right way is absolutely essential ...

Many who are in sales and marketing or own small businesses are too busy trying to earn an income to worry about their long-term business model. Unfortunately if you want to build consistent income and long-term success, the business model becomes a very essential part of the equation. There are many aspects to a successful business model, but we would like to point out a few that should serve as the foundation for building your business Look at the long-term. Yes, it is important to earn a living each and every day. But the myopic view we experience by living day-to-day can ...

I can’t tell you how many times a sales person comes to me after a speech and asks me about the viability and advisability of marketing within a certain niche. The niche could be immigrants from a certain country or those purchasing million-dollar properties. Should I focus in these areas? In order to deliver a valid answer to these inquiries, we need to take a step back and make some important points about niches. What are these? First, yes you should have a niche. Having a niche will help you establish your business in several ways– You must differentiate yourself ...

Fannie Mae has conducted national surveys regarding the obstacles potential home owners have to overcome when trying to purchase their first home. The findings showed that there are many obstacles to home ownership ranging from credit to income, yet, there is no obstacle more important than finding the cash necessary to close. The cash necessary to close is comprised of these components-- Down payment Closing costs Reserves required after closing Rules adopted after the recession have generally made it tougher from a cash perspective.  Before the recession, just about anyone could find a loan program that would enable one to ...

Even in the best real estate markets, some homes are harder to sell. Perhaps they are unique, have a hard to reach location or there is another feature which is not appealing. Whatever the reason, there are many things you can do in order to promote a hard to sell home. First, make sure your real estate agent is doing everything they can to promote your property. With a home that is not selling, it is hard for the agent not to decrease his/her promotional efforts due to budget constraints and general discouragement. There are many things you can insist ...

Do you want to talk about stress? Nothing is more stressful than receiving a stone cold phone inquiry and knowing that you have precious few seconds to develop rapport and set an appointment. Telephone sales is definitely the most difficult of all sales techniques to master. When you meet a prospect over lunch you have time to establish a relationship. In person you can read someone’s body language and social style. Over the phone you must be able to read someone’s intentions through long distance telepathy. You must then be prepared to react to verbalized needs and deliver value within ...