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Op/Ed

Balancing life and your real estate practice – the dos and don’ts of this discipline

Your real estate practice can be overly consuming if you let it. With discipline, you can have a good work/life balance. Here is the method I used when I practiced.

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In y our real estate practice, you have a plate, and you can only put so much onto that plate before things begin to fall off into the cracks. These cracks are what I call “fires” – you know, those things that become emergencies because, simply put, you let them.

What I am about to share with you at first glance may come off as cold, however, I believe that with a little thought, some practice, and your own tweaks, you can realize the income you want and afford time with your family – all while elevating the respect you deserve from your clients.

Balancing work and life as a real estate pro

At no point in my career have I ever allowed myself to appear too eager or desperate for a client, and my clients always felt special and cared for, even though I observed a strict daily schedule. The following is how this can be accomplished:

Lesson one: You know your threshold of how many clients you can handle at once. Your pipeline should be full, and the next client in line for your services should know you’re worth waiting for, and be assured that the same care and attention will be shown to them as soon as they are “next” (never answer a client call while with another client, or this will not work for you). A client became “next” when an offer was accepted on one of my existing transactions. My threshold was originally four clients. If my pipeline was expanding quickly, I brought on agent assistants. As they waited their turn, my assistant held their hand and kept them busy with pre-qualification, buyers agreements, and the like.

Lesson two: When I took on the next client, clear rules of the road were established. I do not leave the house (home office) until 10. I have better things to do with my time than to sit in rush hour needlessly. Some like this time for phone time, however, your undivided attention is not always given, and the possibility of missing vital details while driving and negotiating grows exponentially (as do safety risks). My phone calls were made from 8am to 10am before I left my office.

Lesson three: All of my appointments were set on the half hour – I’m not sure why, but it worked and I was always on time, as were my clients. The same went for phone calls. Schedule them on the half hour. You will find, for example, that if you grab lunch at noon, you’re ready for business again at 12:30.

Lesson four: Be home either before or after rush hour. I preferred before. The implied impression of my work hours with my clients worked in my favor nearly 100% of the time. Why? Because I skipped the salesman b.s. of showing them more expensive homes first – I actually took them to the home described in the range they wanted. I set the proper expectations in the first place. I listened to my clients, and they appreciated it. The day they may have waited for my undivided attention gave them immediate results, and they loved it.

Lesson five: If you cannot show your buyers their next home within five showings, either you’re deaf to their needs and wants, or they don’t intend to buy – if you’re experienced, you know it when you see it, and they’re wasting time for the next customer in your pipeline. Place them on a drip campaign with a buyers agreement in place, or refer them.

Lesson six: Decide when your work day ends. Mine was at 5:30. However, from 8:30pm to 10pm I would work on offers, faxes, enter listings, answer texts, and emails.

Lesson seven: Not every client was right for me. For example, I have a zone of travel. The markets I work. Work outside of that zone takes up time from my clients in travel, and time from my family. Refer them, or if you’ve tapped into a further away zone, build your team. Teams can grow and shrink as needed.

Lesson eight: You are a business. You have business hours, and you have you time. My you time was with my family, but I love marketing, so I added a 6th half day for my marketing, blogging, and the like.

As my business grew, my referral network grew. I utilized an assistant until an indie brokerage was established. We had a clear code of how we conducted business, encouraged our buyers agents to adapt their business model as I’ve described, and never allowed an unseasoned agent to handle more transactions than their limit. Inevitably my threshold grew to six, but it took time.

With the technologies we have today with instantaneous communication, it’s very easy to allow things to creep onto your plate. So my final lesson is utilize an assistant frequently.

It is possible to work and live but it takes discipline and a set of business rules for yourself that you’re accountable to besides just the Code of Ethics. It’s about being honest with yourself, and never being so desperate that something can’t wait a minute.

#Discipline

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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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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