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Op/Ed

5 Things you better be doing to increase your business in 2015

To increase your business in 2015, there are things you should be doing right now to close out your year and pave the path toward prosperity.

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2015

This is the time of year when business planning is en vogue. Real estate business planning webinars and hosted events are very, very well-attended as agents want to get their businesses into high gear for 2015. People buy new calendars and planners, and they even purchase new tech tools to get themselves organized. In fact, it’s probably the best time of year to reveal a new product in the business planning space.

It’s admirable that real estate professionals want to make a plan for the coming year. In fact, ninety percent of the people who meet and exceed their goals actually have a written business plan. But, here’s the thing: if you want to meet your real estate transaction goals for 2015, you probably should have started working towards those new goals in September or October. Specifically, if you want closings in January (not just carry overs of deals that got postponed in December), you need to start working your new plan around the beginning of the fourth quarter.

5 Ways to Increase Your Business

Here’s a list of 5 things you should have been doing since the beginning of the fourth quarter in order to see increased closings in 2015.

  1. Update your database. At the beginning of the 4th quarter, you or someone under your charge should confirm that all the addresses in your database are good ones—that none of your past clients or referral network have moved. Also, cross reference your closings for the last 12 months with your database list, and make sure all the folks that you represented have been included. If the list is up-to-date, prepare and send your holiday or New Year’s cards. (If sending via bulk mail, use Return Receipt so that you can clean up your list and remove bad addresses.)
  2. Make phone calls. The more phone calls you make, the more deals that you have in your pipeline. It’s as simple as that. If you want to see more closings, you must pick up the phone. You don’t have to make cold calls if you are not comfortable doing so. Instead, you can make warm calls—call loan officers, settlement officers, your uncle, your best friend, and even Grandma. The key is to pick up the phone, set appointments, ask for support, and tell people you are looking for more business.
  3. Add a geographic sphere or other target market. The more sources of business that you have, the more leads you will have coming in. Think carefully about how many sources of business you’ve had in the last 12 months. Can you manage any more? Can you add another source and effectively create marketing materials for the entire year for that specific source? If so, consider adding or enlarging your current geographical sphere or target market.
  4. Hire an assistant. The moment that you finally outsource the mundane tasks that keep you from generating new business is almost the same exact moment that you will see an increase in your business. Hire an assistant that understands that his or her job is to keep you in the field making closing after closing. While these folks may be hard to find, one good assistant can help you double your business.
  5. Make a written plan. As I previously stated, ninety percent of people who meet and exceed their goals have a written business plan. Do you? If not, sit down and write one because the numbers do not lie. There are all sorts of free downloads and instructional materials available that will help you generate a real estate business plan that will get you going in the right direction for 2015.

If you haven’t already started to plan for 2015, don’t despair. Get started as soon as possible. You’ve heard the phrase, “He who hesitates is lost,” haven’t you?

Melissa is an in-demand business success speaker and author, as well as a real estate broker with thousands of short sale transactions under her belt. She leverages her experience as a short sale insider to motivate thousands of business professionals to plan their careers better, execute more effectively on their plan, and earn more because of it.

Op/Ed

Processing emotions during COVID-19: It may be grief you’re feeling

(EDITORIAL) During a global pandemic, there is a rollercoaster of emotions and these two things may help people process some of their feelings which may be grief.

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grief

Is part of what we have all been feeling these past couple of months grief? Some say yes, so let’s take a look at what we have been doing and feeling.

I don’t know about you but the first few weeks of March I went in to productive overdrive but not the self-care kind like making new recipes, starting new work outs or painting for creativity and fun. I was trying to complete my work priorities, side business client work and co-host free webinars (via Zoom of course and one even on Webinar Ninja) for my small business community and followers.

I also suddenly had to figure out to be productive while my husband was home and our toddler was with us with not much notice of her daycare being closed. The first two weeks felt hellacious – high anxiety, never feeling like I was doing enough or was present enough.

I woke up and got right to work in my t-shirt and yoga pants, some days forgetting if I had brushed my teeth or washed my face. Taking a shower felt like a luxury but also sometimes a nuisance to try to fit one in. That was strange. I saw my daughter as needing attention as something I had to sort out -also with a guilty feeling that I knew she should be priority but “if I could just get this last project wrapped up or email sent out” or “after I jump on this Zoom call”, I can then take a break and be with her.

Albeit the break was filled with anxious thoughts of how I had to get back to work. My husband was dealing with his own shift in work having many clients pause and see when/how he could work from home. He was grappling with all the general unknown as well as both of us wondering what did this mean for our finances.

This has been an absolute conflict of emotions:

  • Gratitude that we were able to be home – safe and healthy at least for now
  • Scared and grappling with feelings of uncertainty and anxiety
  • Blessed for having some income we could rely on
  • Sadness for having lost some income but not quite sure how much or for how long
  • Worry for others that have lost everything – their livelihoods, their day to days, their LIVES?!
  • Worry for our older parents that live far away and are immunocompromised (not sure we had ever used this word to refer to them) but also happiness that they seem to be doing okay
  • Excitement to have “extra time” with our daughter and dogs
  • Delight to not have to drive in our regular 1-hour each way commute leaving the house around 7:30am and getting home after 6:30pm

I was looking all over for silver linings but not understanding how people are so good at finding new ways to manage their time: organizing their pantries, working out at home, trying new and healthy recipes, painting new masterpieces, etc. It felt a little bit overwhelming that I wasn’t taking advantage of this quick shift in schedule. I also felt fatigued by all the articles telling us to be ok and don’t be an idiot about going out (like we were supposed to just know how to never leave home). I really just wanted permission to not be ok for a bit.

I read this HBS article about the feelings above of discomfort were actually considered grief. The article suggests that if we can just understand the stages of grief, and especially accept that they are not linear, then maybe we can figure out our own path forward. I saw it circulated among many of my friends and truthfully, found it to be the permission I needed to be ok with not being ok.

Keep trying. There is something powerful about naming this as grief. It helps us feel what’s inside of us. So many have told me in the past week, “I’m telling my coworkers I’m having a hard time,” or “I cried last night.” When you name it, you feel it and it moves through you. Emotions need motion. It’s important we acknowledge what we go through. One unfortunate byproduct of the self-help movement is we’re the first generation to have feelings about our feelings.”

This YouTube video was also shared with me about How do you help a grieving friend? and I think you will all also enjoy it and a quote in the beginning, “The human soul doesn’t want to be advised or fixed or saved. It simply wants to be witnessed, exactly as it is.” – Parker Palmer

So, the message I was looking for (to be ok with not being ok) has been found and now it’s up to me with how to move forward. I know that drinking cider and eating cake aren’t quite cutting it so I journaled this morning with ideas for me that would excite me about getting more exercise in my day (dancing, strength training, walking).

I admittedly haven’t started this new work out routine but by allowing myself some grace to grieve, I plan to get the momentum going. I hope you are also ok with wherever you are and slowly or surely adjusting what you need to keep your sanity.

How do you help a grieving friend?

(sharing this video? using it in a training! Great! Tag or email us and let us know, and be sure to give proper attribution.) It’s so hard to know what to do…

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Op/Ed

A guide on how to nail your next video presentation

(EDITORIAL) While the tools themselves tend to be user-friendly, preparing an online video presentation requires some extra steps you need to be aware of.

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video presentation

Pretty much everyone who can work from home is working from home now, to stop the spread of COVID-19. It’s a good thing, but may take some getting used to. The learning curve can be steep. Working from home means using new tools and expanding their tech experience to include video calls or a video presentation.

Fear of public speaking is already a common anxiety. Throw in being forced to use new technology to create a video presentation, and the challenge grows. Never fear, though, because just like with any other type of presentation, following best practices and consulting helpful tips will make your presentation go more smoothly.

First, as with any presentation, the twin pillars of success are preparation and practice. Over-prepare everything, from your research to your outline, notes, slides, speech, and–very crucial–your technology and your team. Here are several more video presentation tips we’ve rounded up to ease your pain.

Tech prep tips:

  • Familiarize yourself with your video conferencing tool before the presentation. Most companies will have a mandatory tool they use. Popular options are Zoom, Skype, or Google Hangouts, but there are other options, too, WebEx, Join.me, GoToMeeting, or Zoho Meetings.
  • Make sure your audience or team is familiar with the technology tools, too, by sending out download/log on steps in advance of the meeting. Send the instructions out twice if possible.
  • Keep the visual aspects clean and straightforward. No Death By Power Point, please. You can keep your speech and/or notes on your desk during the actual presentation, so avoid overloading your slides (if using slides at all). Participants will want some documented key points, but save the supporting details for the spoken aspect of the presentation.
  • In an ideal world, you’ll have some help, a team member to serve as a moderator, recording the presentation and taking charge of the participants’ options. The “Mute All” button, for example, is a presenter’s best friend.

Setting the scene:

  • Find a quiet room, one that will stay quiet throughout the presentation. Ideally, you’ll have a door that locks (with TVs, kids, partners, and pets on the other side).
  • Check the lighting before the actual presentation begins. Harsh overhead lights cast a ghoulish light, while sunlight or otherwise bright backlights make you difficult to see. Do a practice run with a friend or colleague to make sure your lighting works.
  • Choose a clean, simple backdrop and verify that nothing questionable shows up. While a bookshelf may serve as a nice backdrop, try not to have the Kama Sutra or Lady Chatterly’s Lover prominently displayed. The same rule goes for background art–if you wouldn’t put it up in your actual office, then it doesn’t belong in a work video.
  • Better yet, if you’re using Zoom, you can choose a custom backdrop to avoid any overlooked, embarrassing personal objects in the frame.

Presentation day checklist:

  • Practice! Whether you do this the day before or the day of, you need to practice your presentation. Some prefer the mirror, others a real, live, accommodating person, still others a sofa full of stuffed animals. Whatever works for you, make sure you practice. It matters.
  • Wear something you feel powerful in. If you feel you look professional, you will be that much more confident when presenting.
  • Lock that door if at all possible. If you can’t, make sure other household residents know you’re giving a presentation.
  • Close out all unnecessary browser windows. Emails popping up in the corner of your screen are super distracting, and you have zero control over their content. I once was in a training where the presenter hadn’t closed his email, and a coworker emailed him complaining about the clients–to whom he was presenting. The email popped up on the screen for a second or two before he could close it. Disaster!
  • I said it before, but am repeating this, because it’s important. Double check that the participants are muted. The background noise of several people logging in is excruciating and wastes time.
  • Begin the meeting with a quick overview of the agenda. Participants need to know when and how they can ask questions.
  • Start the meeting on time. After the agenda, dive into the goals of the presentation and then the body of the presentation itself. We have to assume the participants are grown up and professional enough to call in on time. If they miss a point or two, they will have to figure it out. Plus, starting punctually lets your audience know you are aware and respectful of their time.
  • Similarly, finish on time. If you cannot answer all the questions during the presentation, assure them you’ll answer them afterward.
  • Let participants know you’ll follow up and how. Tell them how to reach you with questions or additional information.
  • Follow up as promised!

Shifting gears from an office environment to a home office takes some adjusting. It can be tricky, as shown by Poor Jennifer and others. Adding video conference tools into the mix is not everyone’s cup of tea. However, with some preparation, practice, and consideration of the above tips, we can all ace our video presentations. Break a leg!

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Op/Ed

Governors fail renters miserably, a 90-day rent freeze is the only option now

Independent contractors whose only sin is renting instead of owning, are facing evictions even as Governors put tiny bandaids on the situation. A 90-day freeze is the nation’s only option to avoid mass migrations or spikes in homelessness.

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moving boxes rent freeze

New York Governor, Andrew Cuomo announced Friday the state would observe a 90-day moratorium on commercial and residential evictions to give residents and businesses a break after so many have been ordered to halt operations during the COVID-19 global pandemic.

Various states are debating moratoriums on mortgage payments, and for those that aren’t, banks are frequently tweeting that forbearance options are available and reminding property owners of the allure of current refinancing rates.

Several states are announcing similar moratoriums on evictions, but in some states it’s a ruse.

For example, Texas Governor Greg Abbott issued an emergency order to suspend all residential evictions (barring criminal activity) through April 19th. But what the press releases don’t include is this is business as usual. Not only can evictions still be filed for April rent, many counties in Texas accept filings and set court dates around the 19th already. The only relief this ruse of a suspension offers is people being evicted for failure to pay in March.

Other states are renter-friendly and a renter can be months late – in Texas, landlords can issue a 24-hour notice to vacate on the 4th and file for eviction on the 5th, get a hearing roughly two weeks later, and an immediate order for the renter to vacate the property. Many other states are also fast to evict like Texas.

One renter opined, “Yeah sure, once evicted in April, I’ll just take my zero thousand dollars and put a rent and pet deposit down on a new place, buy packing supplies, and then hire expensive movers to take me to my new imaginary home that doesn’t exist because you can’t rent ANYWHERE if you’ve been evicted here [in central Texas].”

Meanwhile, landlords, especially multi-family properties, are able to refinance their holdings at historically low interest rates or negotiate forbearance options on their loans. This is welcome good news for landlords that own one to four units and rely on rents as their primary income. If they can all hold off payments for 90 days, the hit isn’t as devastating, plus they don’t have to turn those units at a cost.

In the meantime, national relief efforts have stalled. Senators are battling over the stimulus package (Phase 3 has failed to pass as expected today) as their political war wages on. Americans hold out hope that three weeks after being announced, a few cash money dollars might still eventually make it their way.

If you’ve spent any time on Facebook or Twitter, you’ve probably seen petitions in your state demanding a rent freeze, and you might have rolled your eyes. At first, I did too, because I secretly love the beauty of capitalism and typically balk at government intervention into much of anything.

But take a moment to think about a 90-day rent freeze.

This isn’t about empathy, it’s about an imbalance in the marketplace where some are favored over others and our government is picking winners and losers. It’s about business and the shortsightedness of this situation, particularly the willingness to get rid of renters, carrying the cost of a makeready and marketing and staff to refill those units which will be wildly difficult with so many new evictions on peoples’ records.

We spoke to several multi-family property management companies in Texas, and universally there is no plan to suspend rents owed, waive late fees that keep accumulating, or halt evictions.

One landlord told us that for his two properties, he is asking people to pay rent as they can, but as most of his tenants are freelancers, he says it’s unlikely, but he’d “rather keep them in their homes and eventually collect rent, as opposed to coordinate a makeready in this environment, not to mention the fact that no one wants to move to a new place right now when they’re told to shelter in place.”

That takes us to today in politics. Let’s say the Senate passes the wildly expensive relief bill and businesses can make payroll, and families get some money. That’s great. But what about the millions of independent contractors in America? Freelancers, Realtors, stylists, and millions more didn’t lose a traditional job, they’re not on payroll and they don’t have staff on payroll (therefore don’t qualify for most disaster assistance) – many just lost everything with no promise of a future income, tossed into a situation they have no control over.

Many of these folks are renters. And they’re screwed. Why is multi-family the only sector of the economy protected right now? They’ll get funds to make payroll, they’ll be able to skip paying their loans for a few months, but there is not a consensus in the industry that they should extend that grace to option-less people they rent to.

Some will say that putting a 90-day halt on evictions helps, but at the end of June, those people owe 3 months worth of rent or they’ll be immediately evicted. Some believe putting off the inevitable at least keeps these people off the streets. Local news is outlining resources, including motel-vouchers for the newly evicted.

How condescending, insensitive, heartless, and insulting to American renters whose only sin was renting instead of owning.

Right now, President Trump appears to be in the mood to empower governors, so governors must step up and order 90-day suspension of all rent and accumulating rent fees – landlords can’t be the only exempt entities in the nation.

Multi-family property managers will eventually get funds to cover operations and along with landlords, most will be able to take advantage of refinance and/or forbearance options, and while some states have attempted eviction freezes, nothing short of a 90-day suspension of rent (including removing all potential predatory late fees and penalties), both residential and commercial, will help the millions in America who will still be facing eviction at the end of the existing moratoriums.

We MUST take action. Local petitions are floating around, so sign and share them.

But the most powerful thing you can do right now is to send this story to your local representative – you can enter your address here and get the names, Twitter accounts, and Facebook Pages of every politician that represents you down to the local level.

The only way renters (especially independent contractors) will be treated like the rest of the nation is for people like you to speak up – tweet this and tag every one of your representatives. Then do the same tomorrow. And the next day. And the next. And don’t stop until change has been made.

Otherwise, landlords will enjoy a mass migration of family evictees come May 1st, while politicians can scramble to address spikes in homeless populations nationwide.

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