81 posts categorized "Real Estate Training" Feed

12 Ways to Reduce Your Risk & Liability in Real Estate

Do you have a risk reduction plan for your real estate business?  In this post, we outline 12 strategies or best practices to consider adopting to reduce your liability and help manage the risk of potential litigation as well as complaints filed with the state real estate licensing entity or your local REALTOR Association.

12RiskReductionTips

  1. Develop and use standard procedures with everyone.  Review fair housing rules and treat all prospects, customers and clients honestly, fairly and equally.

  2. Keep a communication log during your transaction.  Record your notes, conversations, milestones.  If red flags are raised during the transaction or you encounter challenges, it is particularly important to record the pertinent facts and events.  If you are using a paperless transaction management system, scan and upload all of your notes, emails and correspondence for your transactions.

  3. Use email to confirm conversations, verbal agreements, proof of delivering copies of contracts and addenda.  If your clients don't use email, then mail copies of all the contracts and documents they sign via certified or registered mail or us an overnight service like Fedex.
    Note: If you and your client prefer communicating via text, make sure to take a screen capture of important texts regarding the transaction. Or better yet, follow-up the text with an email to document the notification or important communication.

  4. Keep a record of your transaction including all paperwork, emails and correspondence. Create a file on your computer (or use a cloud-based program like Dropbox or Evernote) and a folder in your email program to organize your correspondence and documents.  Archive your closed transactions (including your emails and other correspondence) and store them in your transaction management system, Dropbox, Evernote, and/or a backup drive.

  5. Rule of 3 – always recommend three vendors, contractors, attorneys, lenders, home inspectors, home warranty companies, etc.  Consider creating a disclosure with the companies and service providers you recommend and having your clients sign and acknowledge the choices you presented.

  6. Always recommend and explain the benefits of a home inspection and a home warranty to your clients.  Get a written waiver if they choose not to.

  7. Disclose...Don’t Diagnose.  Be the source of the source.  Stay within the boundaries of your area of expertise (real estate contracts, sales and marketing). Leave the analysis and diagnosis of any potential defect, issue or concern to the appropriate expert or contractor.

  8. Educate & set the proper expectations with your clients and customers. For example:
    • Explain the entire short sale process; pros and cons of purchasing a short sale
    • Review earnest money and what happens with a cancelled sale
    • Conduct a seller and buyer interview/qualification with all clients

  9. When working with buyers, make sure your buyer is ready, willing and able to purchase.  If getting a loan, have they started the approval process with a lender?  If they are a cash buyer, do they have proof of funds?

  10. When working with sellers, ensure they are ready, willing and able to sell.  Conduct a thorough consultation prior to listing to ensure they are motivated to sell and realistic in pricing the property. With short sale sellers, ensure you have the sellers complete the short sale packet and all documentation before you list the property.

  11. Use a transaction checklist or service action plan to stay on top of all the tasks and procedures in a real estate transaction from initial contact to the successful closing of escrow.  Include any due diligence and contingency deadlines.

  12. Communicate. Communicate. Communicate… often and with all parties to the transaction!  Return phone calls and emails promptly.

 

Are you ready for coaching? Take your business to the next level today. Schedule a complimentary 30-minute coaching session today to find out more.

We also provide a wide selection of other real estate and business coaching programs that are designed with the agent in mind to help you build a successful career with real life instruction on how to implement and execute. 

Real Estate Team Builder: http://realestateteambuilder.com/

WBNL Coaching: http://wbnlcoaching.com/

WBNL Business Builder: http://wbnlbusinessbuilder.com/

Wandering But Not Lost: http://wanderingbutnotlost.com/

 

 


Real Estate Coaching Bonus Tip for 2017 - Ask for Help!

 

Don’t try to do it all by yourself. Collaboration with like-minded people has so many benefits including accountability, mutual support, creativity and fun. The journey is so much more fun and enjoyable when you share it with others.

  • Hire someone – a mentor, coach, consultant, expert, professional – to assist you in reaching your desired outcome(s).  The right person can offer a third party perspective; provide necessary guidance, accountability and expertise.
  • Find an accountability partner.
  • Form or join a mastermind group to support each other’s goals and commitments.

To enjoy lasting change and success, all you need is the…

  • Desire to change
  • Decision to take action
  • Discipline to practice new behaviors
  • Determination to persist until you get results

  INDIVIDUAL 1 on 1 COACHING from WBNL Coaching

  • Option 1: 3-HOUR COACHING PACKAGE ($555)
  • Option 2: 10–HOUR COACHING PACKAGE ($1500)

In addition to the one-on-one sessions you will receive:

  • Membership in the Wanderers Club for the duration of the coaching package
  • Complete Real Estate Business System Assessment of your current systems with strategies and feedback
  • Detailed action plan emailed to you after each coaching session
  • Supporting documents, forms, and resources to facilitate the implementation of business systems based on your priorities
  • Supporting material and processes for personal and/or team performance enhancement

WBNL Enterprises Explore Our World

Go to www.wbnlcoaching.com/coaching for more info 


Real Estate Tip 8 for 2017 - Use Tracking & Accountability Tools

 

Time Block to Stay Focused & On Track

The primary goal with time-blocking is to carve out blocks of time to commit to the most important activities in your day and week. The schedule represents what your week would look like in a perfect world for you and your business. Of course, the trick is sticking to your commitments and not allowing interruptions, distractions or something else deter you from doing the activity you have scheduled.

Time-blocking tips

  • Use primary categories to guide you to scheduling the key areas for you and your business.
  • We recommend scheduling “Prospecting” time in the mornings. In our coaching experience, this is the area many people tend to not stay committed to completing.
  • If you erase, you must replace! That means if you decide you will work with a client when you have prospecting scheduled, and then you must reschedule that time block somewhere else in the week.
  • Avoid the tendency to multi-task when you are in one of your time blocks. You will be more efficient and get better results if you stay focused on the task at hand. For example, schedule 30-minute blocks for social media daily 5. Just knock it out. Stay on task and don’t get distracted with other tasks on your to do list.

Main categories to color code and schedule

Personal-Family Time Schedule your personal -family time and day(s) off first!

  • Day(s) Off
  • Workouts
  • Meditation or other morning rituals
  • Breakfast and prep for the day

I.P.A. – Income-Producing Activities

  • Prospecting
  • Follow-up
  • Client Appointments
  • Networking Events
  • Client lunches and pop-by’s

S.A. – Support Activities

  • Admin tasks
  • Paperwork
  • Training- Workshops- Webinars
  • Office Meetings
  • Prep work-research
  • Social Media
  • Team Meetings- Accountability

 

Business Planning Tracking & Measuring Tools

We created a comprehensive and easy to implement online course to support you in Setting Your Goal Setting and Creating Your Real Estate Business Plan.

WBNLFreeBusinessPlan

http://wbnlcoaching.com/membership/ 

The Free Course contains detailed video tutorials on how to customize the WBNL Coaching Business Plan templates:

  • Real Estate Business Plan (excel)
  • Goal Writing Package (fillable PDF)
  • Personal Budget (excel)
  • Business Budget (excel) (excel)
  • Income & Expenses Statement
  • Success Action Plan (fillable PDF)

Our turnkey, complete team building system includes all of the materials, supporting documents, checklists and manuals along with the step-by-step implementation training delivered via our on-demand video coaching platform. Visit www.RealEstateTeamBuilder.com to learn more about our “Team Building in a Box” system to build your profitable real estate team.

 

We also provide a wide selection of other real estate and business coaching programs that are designed with the agent in mind to help you build a successful career with real life instruction on how to implement and execute. You can learn about the other products and services provided by WBNL Coaching below:


Real Estate Tip #5 for 2017: Stay Connected to and Build Your Database

 

 

 

Connect more often with your database and actively ask for referrals!


Building your database is an ongoing and daily process. It’s a mindset.


Set a goal for the number of people you want to add to your database on a weekly or monthly basis. Every day, you will have opportunities to network and talk to others. Turn every day situations into an opportunity to discuss the real estate business and invite someone to be added to your mailing or email list.

We recommend 30-40 connections annually.  A connection could be a call, email, mailer, text or face-to-face meeting.


30-40 Annual Connect Plan Example:

  • 12 monthly newsletters
  • 4 phone calls (call A+, A, and B contacts at least quarterly)
  • 4 personal notes (after these phone calls for sure.  And any other opportunity like when you receive a referral.)
  • 4 success mailers (quarterly just listed/just sold mailer)
  • 8 Holiday postcards, emails or flyers
  • 6-8 postcards, emails or flyers (Time change, home maintenance, market reports like Market Snapshot from Top Producer)

Here are some strategies and ideas to begin implementing in your daily Action Plan today!

Remember your ABC’s  – Always Be Connecting!

  • Making connections with people then building and maintaining relationships is the most basic, critical element of success in business.
  • Do you have your “elevator speech” down? Can you easily communicate your value proposition to a prospective client in about 30-45 secs?
  • Have fun with the daily process of connecting with others.  Set the expectation each day that you are going to connect and communicate with at lest 5 new people.  Challenge yourself to see how many people you will be able to add to your database each day.

Commit to adding at least 5 people a week to your database

  • Actively handout 5 business cards 5 days a week and ask for referrals! (Everywhere – standing in line, restaurants, interacting with businesses daily)
  • Hold 2-3 Open Houses a week – you will meet prospective buyers and people to add to your database.
  • Active prospecting – FSBOs, Expireds, door knocking, calling, just listed and just solds
  • Networking and business events
  • Get involved in community events or groups


Build a habit of sending personal notes

  • Commit to a certain number of personal, hand-written notes daily.
  • Write the note in the moment – when the reason for sending the note occurs.
  • Have a supply of blank note cards and envelopes with you – in your car – at home – in the office.
  • Ideas for personal notes:
    Open house visitors
    After client contact (call or visit)
    Co-op agent on a transaction
    Business vendors and partners
    When you receive a referral
    At close of escrow on a transaction


Acknowledge your Referrals

  • Immediately upon receiving a referral from a past client or anyone, send a personal note and a thank you for the referral item.
  • The key is to have a supply of your thank you items on-hand (Gift card/movie tickets, etc.) and send a personal note immediately after receiving the referral.
  • Don’t wait to send the thank you note after the close of escrow! Make an impression immediately by acknowledging the referral as soon as you receive it, regardless if it turns into business or not.
  • Send a Starbucks card, car wash card, gas card or movie tickets along with your note

 


 

WBNL COACHING WANDERERS’ CLUB

Developed with all Agents in mind, the Wanderers’ Club refocuses activities toward revenue creating action.

  WBNL365_SocialMediaPosts

  • New for 2017! Daily Social Media Posts (WBNL 365)
  • Online, On-Demand WBNL Courses
  • Two Training Workshops (monthly and on-demand)
  • Monthly marketing material to send to your database
  • WBNL 52 - Weekly coaching and business tips
  • Private Facebook Group
  • Special discounted pricing on WBNL events and products

 

Go to www.WBNLCoaching.com/membership

Wanderers’ Club – Get full access to the site and all member benefits, view our on-demand Workshop Library, receive our weekly coaching tips and monthly marketing, along with jumping in to our course curriculum ~ featuring our Connecting Your Real Estate Business Series. You can opt to pay monthly or sign up for a year and save.  ~ $44 | month or $396 | year

Basic Membership – Receive immediate access to our 3 Steps to a Powerful Real Estate Business Plan Course, Weekly Coaching Tips and access to select members only articles and downloads ~ FREE


Real Estate Tip #4 for 2017: Leverage Top Producer as Your Virtual Assistant

 

 

Are you effectively using a real estate management software tool that is more than a CRM (customer relationship management) or email tool?

If you want to run your business as a true business while leveraging technology and tools to save time and to run more efficiently; then consider really embracing a complete system like Top Producer.

 

Top Producer is a comprehensive cloud-based CRM (Customer Relationship Management) and real estate transaction management system.  And when you fully embrace all of the features and tools available, it will become your virtual assistant. The key to success is to use it daily and power through the initial learning curve.

When researching and selecting a real estate software system to use for your business, look for these features:

  • Robust contact management (to collect all the important information)
  • Manage your sales pipeline
  • Manage your follow-up (calls, emails, tasks, appointments)
  • Text and email notifications of leads
  • Ability to quickly and easily respond to contacts and leads
  • Built-in and customizable action plans and drip email campaigns
  • Automated and personalized monthly newsletter
  • Email templates that you can personalize and brand
  • Integration/syncing with Google/Outlook calendars and email
  • Lead routing from various lead sources (Zillow, Realtor.com, etc.)
  • Manage your listings and closings
  • Connection to your MLS
  • Ability to build and send CMA reports
  • Mobile app
  • Integrated Website
  • Lead generation landing pages
  • Automatic market data reports
  • Marketing templates and presentations (postcards, flyers, letters)

 

WBNL Recommended Real Estate Business Software Solution

TP8i-phone-desktop

 

Top ProducerTopProducer.com

(starting at $ 39.95/mth for the CRM)

Multiple related products integrate with the CRM program (Market Snapshot, Websites, IDX, Connector for MLS, Five Street)

To learn more about Top Producer 8i Suite of Tools, contact:

Colin Burton | Top Producer
colin.burton@topproducer.com
Direct:  888-547-5331
Mobile:  778-960-5331


Real Estate Tip #3 for 2017: Define and Do Your Daily 5

 


 

Focus on 3 Target Markets or Niches

In our experience, the most successful sales people are focused on three (and not more than five) primary focus areas or target markets. There is power and clarity in defining the type of client and market segment you want to work with in your business. You don’t have to be all things to all people!

In addition to staying connected to your database for repeat and referral business, what the two additional niches you want to work? Think traditional prospecting, demographics, geographic, and industry-specific.

  • Farming
  • Expireds
  • FSBOs
  • Open Houses
  • Online Marketing & Social Media
  • First Time Homebuyers
  • Active Adult Community
  • Military, First Responders
  • Teachers
  • Attorneys
  • Other industry/profession

What are the 5 specific things you could on a daily basis that would really drive your business and life goals?

What are the 5 actions that have the highest return and the most valuable use of your time?

Do the most important things first in the morning, preferably without interruption, for 60 to 90 minutes, with a clear start and stop time. If possible, work in a private space during this period, or with sound-reducing earphones. Finally, resist every impulse to distraction, knowing that you have a designated stopping point. The more absorbed you can get, the more productive you’ll be. When you’re done, take at least a few minutes to reflect and refresh.

Some ideas to get you started:

  • Start my day with my morning ritual
  • Make “X” connections with people in my database
  • Send “X” personal notes
  • Add one new person to my database
  • Make “X” connections on LinkedIn
  • Social media daily post with a solid call to action
  • Daily Facebook Live or Periscope video
  • Make “X” calls, texts, emails to my niche or primary prospecting target
  • Hand out 5 business cards and ask for business, a referral or for permission to add them to my database

Get free access to our Lead Generation Workshop: http://wbnlcoaching.com/leadgen-downloads/

  • Watch the webinar replay
  • Download the workbook, slide deck and bonus material
  • Get valuable tips & strategies to implement immediately
    • How to generate more referrals from your database
    • Must have tools to use for success
    • Leverage your listings to get more leads
    • How to work with the major real estate portals
    • Drive traffic online and offline
    • The most effective social media strategies
    • Paid advertising opportunities

Keys to converting leads to closed transactions


Real Estate Tip #2 for 2017: Start the Day with Your Morning Ritual

 

 

 

Avoid the urge to check your phone, notifications, email and social media as the very first thing you do when you wake up in the morning.


Instead, design and adopt a daily ritual to start your day in a positive mindset.  Show up every day: Mentally, Physically, Emotionally and Spiritually.  Now more than ever it’s important to get up, do your morning mindset ritual, get dressed for success and get to work!

Some suggestions:

  • Morning meditation or prayer
  • Focused Breathing Exercise
  • Exercise, stretch, take a walk
  • Review your goals and say your affirmations
  • Eat a healthy breakfast
  • Read for 30 minutes
  • Listen to a podcast
  • Then, review your day’s tasks and schedule

 

Get the WBNL Coaching free download: How to Set Your Intentions and Focus for the New Year
http://wbnlcoaching.com/how-to-set-your-intentions-and-focus-for-the-new-year/

 


WBNL COACHING WANDERERS’ CLUB

Developed with all Agents in mind, the Wanderers’ Club refocuses activities toward revenue creating action.

  WBNL365

  • New for 2017! Daily Social Media Posts (WBNL 365)
  • Online, On-Demand WBNL Courses
  • Two Training Workshops (monthly and on-demand)
  • Monthly marketing material to send to your database
  • WBNL 52 - Weekly coaching and business tips
  • Private Facebook & LinkedIn Group
  • Special discounted pricing on WBNL events and products

 

Go to www.WBNLCoaching.com/membership  $44 | month or $396 | year

Wanderers’ Club – Get access to all member benefits including our on-demand Training Workshop Library, receive our weekly coaching tips and monthly marketing, along with jumping in to our course curriculum ~ featuring our Connecting Your Real Estate Business Series. You can opt to pay monthly or sign up for a year and save. 

Basic Membership – Receive immediate access to our 3 Steps to a Powerful Real Estate Business Plan Course, Weekly Coaching Tips and access to select members only articles and downloads ~ FREE


Real Estate Tip #1 for 2017 - Commit to a Business Plan & Goals

 

Welcome to our  Series to Align, Connect & Prosper in 2017 with 10 actionable video tips including links to free resources, downloads and training are posted here on this blog and also at WBNLCoaching.com/blog 

 

 

It’s that time again – time to manifest your success for another outstanding year in Real Estate!  It all starts by writing your goals or desired outcomes, creating a written real estate business plan and updating or revising your business budget then measuring and tracking your results.

In our experience, we find that less than 20% of real estate professionals actually prepare written goals and a business plan.

Here’s your challenge… Are you ready, willing and able to join the success group (the less than 20%)?  Are you willing to do the opposite of what the masses usually do and achieve your desired outcomes?

If you are ready… start today by following these 3 Steps to Business Planning and Take Action!

Step 1 – Write your goals and desired outcomes.

  • Identify clear, concise, SMART goals and know your WHY for each of them.

Specific/Simple
Measurable/Meaningful to you
Attainable/As if Now/All areas of your life
Realistic/Responsible
Timeframe/Toward what you want

  • Write them down for all areas of your life (Personal, Financial, Business/Career, Relationships/Family, Spiritual)
  • Create Action Plans – break the goal down into steps and next actions.  Take action every day!
  • Measure and track your progress – you can’t improve what you don’t measure.
  • Celebrate your successes along the way – make any necessary course corrections.

Step 2 – Customize your written real estate business plan.

Conduct an Assessment and Review of the current or previous year. Start by analyzing your previous year’s business – this form will help you gather and calculate key factors for your specific business.  Review everything – from sources of business to average days on market and listing to sale ratios.  Before you launch into your plan for the coming year, it’s critical to review what worked last year and to know your basic numbers.

Now you are ready to create a new business action plan for the year.

  • Determine your total revenue goal
  • Know your average net commission per closing
  • Calculate the number of closed transactions to meet your income goal
  • Identify your target markets and sources of business
  • Build a personal and business budget for the year
  • Know the total prospects and presentation you will need to hit your goals
  • Create a marketing budget and calendar for the year

Step 3 – Measure and track your activities and results.

You can’t improve what you don’t measure.   An excellent tracking system will allow you to make necessary course corrections and adjustments as well as track your overall success.

SECRET to SUCCESS: Create Your Daily Action Plan and Just Do It!

Once you have your business plan in place, it is critical to review it and make necessary course corrections at least quarterly.  On a monthly basis, make sure to use a performance dashboard or a suitable tracking form to record your actual results and compare them to your plan or goal.

From the business plan you can create your daily, weekly, monthly ACTION PLAN.  This plan will outline the income-producing activities and other tasks you are committed to in order to achieve your desired outcomes.  Review and stick to your Action Plan DAILY!

A basic mantra or affirmation for your consideration and real estate success could simply be:

“I make one qualified appointment daily!”

 

 


At WBNL Coaching, we have created a comprehensive and easy to implement online course to support you in Setting Your Goal Setting and Creating Your Real Estate Business Plan.

This training course is completely free – all you have to do is sign up as a (Free) basic member on our coaching site: http://wbnlcoaching.com/membership/

WBNLC_BasicMembership

The Free Course contains detailed video tutorials on how to customize the WBNL Coaching Business Plan templates:

  • Real Estate Business Plan (excel)
  • Goal Writing Package (fillable PDF)
  • Personal Budget (excel)
  • Business Budget (excel) (excel)
  • Income & Expenses Statement
  • Success Action Plan (fillable PDF)

[Free Download] Mastering LinkedIn for Business - Build an All Star Profile

WBNL-Coaching-Mastering-LinkedIn

LinkedIn is the definitive professional networking and business development platform. It is the place to showcase you, your brand, and your business to peers, influencers, and prospective clients.

LinkedIn is like a powerful search engine and searchable database of information, people, companies, and groups. It is imperative to optimize your profile for searching by included your targeted keywords throughout your profile. Don’t “overstuff” your profile with keywords, but rather integrate them into the copy in a natural and readable way.

Unlock the Webinar Replay video and Download our All-Star LinkedIn Profile Guide

What you will learn in this training webinar:

  • Power tips on optimizing your profile for search
  • How to add a branded cover image
  • The importance of using keywords throughout your profile
  • What content needs to go in your summary
  • How to add images, video and slide-decks to sections
  • Review your privacy and notification settings

 

30 Day Free Trial – Join the WBNL Coaching Wanderers Club – The online, virtual coaching and training platform for Real Estate and Business Professionals.

Your basic, FREE membership includes: WBNL Coaching Real Estate Business Plan Online Course and Downloads

Check our EVENTS CALENDAR for upcoming live workshops, free webinars

Interested in Building a Real Estate Team? Check out our complete, turnkey REAL ESTATE TEAM BUILDER System


[Free Downloads] Real Estate Lead Generation: How to Attract & Convert More Leads

WBNL Coaching recently conducted a free webinar entitled: Lead Generation: How to Attract, Cultivate and Convert Clients Online and Online

LeadGen_WBNL

 

To unlock the webinar replay and download all the bonus materials just click on the link below:

Lead Generation Workshop Webinar & Downloads

  • Lead Gen Workshop Slide Deck (PDF)
  • Lead Gen Workbook
  • 50 Lead Generation Ideas

Here's what you will learn in this training:

  • How your database IS your business - how to generate more referrals
  • Must Have Tools - IDX website, CRM, Landing Page(s)
  • Ways to capture more leads from your listing marketing plan
  • How to leverage the major real estate portals (Zillow, Trulia, etc)
  • Driving more traffic with offline and traditional marketing
  • Implementing effective Social Media Marketing Strategies
  • Paid Advertising – pay per click, lead services, lead gen platforms
  • The keys to converting leads to closed transactions

Unlock the training and downloads! 

30 Day Free Trial – Join the WBNL Coaching Wanderers Club – The online, virtual coaching and training platform for Real Estate and Business Professionals.

Your basic, FREE membership includes: WBNL Coaching Real Estate Business Plan Online Course and Downloads

Check our EVENTS CALENDAR for upcoming live workshops, free webinars

Interested in Building a Real Estate Team? Check out our complete, turnkey REAL ESTATE TEAM BUILDER System