9 Real Estate Business Musts (Part 2) – No More Excuses

(If you haven’t seen it yet, be sure to read 9 Real Estate Business Musts Part 1, so youdon’t miss any of our real estate best practices.)

I’ve been working on my backyard landscaping since spring began. It’s something I started planning in winter. Imagine my excitement, watching the weather forecast for when I could get out there and perform a total makeover, all completed by moi.

It started out quite well, too. Moving boulders, enlarging the lawn, re-grading the beds, planting new plants.

About a quarter of the way into the project, though, the weather suddenly turned less-than-ideal for me to continue. It was either too hot, too rainy or too cold (at least in my imagination).

I suddenly had too much other work to do. I threw my back out, maybe I should hire someone to finish it?

I had one excuse after the other to not complete the project. Too easily distracted? Not motivated enough? Lazy? Maybe a bit of each.

The fact is, if I finish it myself I’ll save huge bucks. Sorta like how agents stand to make a lot of money when they drop the excuses and pay attention to the “musts” of their real estate practices.

One real estate “must” is a good website – find out how LeadSites can grow your online brand.

4. I’m too busy to follow up with my SOI

Whoever gave us the dictum “The fortune is in the follow-up” is a genius. Too bad so many agents ignore real estate best practices such as this.

Consider this: According to the NAR, only 23 percent of home sellers used an agent they worked with before. Forty-one percent found their agent through a referral from a friend, neighbor or relative.

That’s 64 percent of listing clients out there who won’t hire you if they or someone they know can’t remember you.

And they are all sitting in your CRM, ripe for the follow-up.

The “I’m too busy” excuse for this “business must-do” is almost always followed by “I have no idea what to say to them.”

Long before I got into real estate I had a landlord who was also an agent. I didn’t know him that well, other than that he was a nice guy and a great landlord. Then, one day he called me, asking for my help.

He quickly explained the current market (in your case, you can explain to them that there aren’t enough homes for sale for the buyers who want them). He told me how he was struggling to find listings and asked if I knew anyone who has talked about selling.

Alas, I didn’t, but you can bet that for the next week or so I kept my ears open for any mention of real estate in my day-to-day dealings.

Although I didn’t have a home to sell and wasn’t exactly his ideal lead, there was a good chance that I knew someone who was, and my landlord recognized that.

So, make the calls. Be honest, ask for help. You simply cannot afford to be too busy to nurture these relationships. Spending money on other marketing when you allow this group of people to fall through the cracks isn’t good business, it’s just stupidity.

5. I’m too busy to write a business plan or revisit the one I have

I don’t know about you, but when I hear the words “business plan,” my eyes glaze over. What a boring topic. What a hassle. Right? But, the reality is that

 “A goal without a plan is just a wish”

according to the late author and aviator, Antoine de Saint-Exupéry. One of the top real estate best practices is to have a reliable business plan.

And, the good news is that there is a non-boring, hassle-free (even fun) way that you can transform your goals into a plan. Check out Tyler’s brilliant business plan template for agents.

Then, no excuses when it comes time to check in on the business plan. Some experts claim that you should check and adjust the year’s plan at mid-year.

Since real estate is cyclical, you may need to do so sooner. Changes in your local economy could signal a change in the housing market, throwing off your carefully-planned numbers. Updates and adjustments can keep you on track to reach and sustain success.

6. I’m too busy to take time off

Want to hear something sad? Seventy percent of small business owners worked on Thanksgiving, despite promising themselves they’d take the day off, according to a Funding Circle Small Business Holiday Survey.

Most agents claim they don’t have the time to take time for themselves. But, “failing to take vacations is one of the worst mistakes business owners can make,” according to Clate Mask, CEO of Infusionsoft.

He goes on to say that while many small business owners have an “unwavering focus on their business,” which can lead to success, it comes with a price – your health and emotional well-being. Check out Mask’s walkthrough of how to prepare yourself and your real estate practice for a vacation at Inc.com.

Yes, vacations count as real estate best practices!

Even if you stay close to home and unplug from the business for one or two days, don’t think of it as a luxury, but as a necessity.

Oh, we aren’t done with you yet – check back soon for part 3 of our list of real estate best practices, and why your excuses just aren’t cutting it.

Ready to grow your business? LeadSites has the tools to help you grow online and offline.

Now that you know what to avoid, it’s time to start generating leads. Use these strategies to get started today!

Looking for more ways to grow your business? Watch our video for 5 tips to help your business grow:

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from theokbrowne digest https://www.easyagentpro.com/blog/real-estate-best-practices/

Flex Space is the Future of Office & Storage Needs

Flex space will never compare to the look and feel of traditional office space however across the country renting flex space is on the rise. And they are attracting companies in all types of industries including software and technology companies. For example in Austin Tx flex space is half the cost of traditional Class B office space.

What are Flex Buildings?

Flex office buildings are single story light industrial buildings with higher ceilings and with overhead doors and loading areas (e..g. grade level dock high) in the back. They were geared towards companies that used 18 wheelers and box trucks that transported products to and from the properties. They typically have surface parking and generous landscaping and are found in semi industrial business parks.

The flex buildings are designed to accommodate businesses needing light manufacturing, warehouse space, and office space.

Advantages of Flex Space

• You pay rent on the square footage you actually use. In traditional office buildings you also pay rent on shared square footage (e.g. common areas, bathrooms, hallways, lobbies, etc.). With flex space your usable square feet equals the rentable square feet.
• Rents are lower than traditional office space. Rents can be up to half the cost of traditional class B or C office space. In Austin for example flex property rents average $13 to $18 gross compared to $21 to $25 sf for class C office space.
• You get more square footage for the money
• Shorter term leases are more available – Most office space buildings want 3-5 year minimum leases. Depending on the market, condition of the space and landlord you have better chances of securing a shorter term lease
• Can build out office space inside just as you would in a traditional office. Once you walk inside you can’t tell if you are in the frost bank towner or a flex industrial building. The office build out can look like any other class A office buildout. The only difference is the outside of the building.

Flex space is more accommodating to all types of companies whether they need office space, warehouse space, or both combined. They are no longer just for businesses that have shipping and receiving needs. If you are looking to rent 1,000 to 50,000 sf and would like to save a ton of money then make sure you check out what flex space options there are in your area.

What is Flex Warehouse Space?

Flex warehouse spaces are single story buildings that can be used as both office and warehouse space. Users can either build them out with 100% office space or they can build out a little bit of office space and have the remaining be warehouse space. There is a growing trend toward flex warehouse space such as Austin, Tx because the cost of traditional office space has sky rocketed.

The buildings typically only have windows on the front and may have an overhead door in the back with either a grade level loading area or dock high loading. 

Types of business’s that typically occupy flex spaces are users that need office and warehouse space such as plumbers, pest control, electricians, mechanic shops, call centers, roofers, HVAC companies, etc. Because of how expensive office space is these days you are now seeing technology and software companies rent flex space and build it out to have 100% office.

Flex space is less costly than traditional office space. For example in Austin the lease expensive traditional office space ranges from $21 to $25 sf per year where as flex warehouse space will cost $13 to $16 sf per year. Also with flex space since there are no common areas your get more usable square footage. That means your usable sf equals your rentable sf. They only other cost you will incur is your monthly electric and janitorial costs.

In addition you are typically responsible for the maintenance and repair of the HVAC unit so make sure you negotiate a good warranty on it. 

If you have any questions about flex warehouse space or need help determining whether it’s right for your business feel free to give us a call at 512-861-0525

National Rents See Slowest Season Start in Years, but Most Renter Mega-Hubs Maintain Upward Trend

Key takeaways: The national average rent was $1,381 in May 2018, having increased by 2 percent year over year, and by 0.3 percent ($4) month over month, according to data from Yardi Matrix. Rents increased in 79 percent of the nation’s biggest 250 cities in May, were unchanged in 17 percent of cities, and dropped […]

The post National Rents See Slowest Season Start in Years, but Most Renter Mega-Hubs Maintain Upward Trend appeared first on RENTCafé rental blog.

from theokbrowne digest https://www.rentcafe.com/blog/rental-market/apartment-rent-report/rentcafe-apartment-market-report-may-2018/

Meet the Real Estate Tech Founder: Jon Boller from Grid Consulting

In our latest real estate tech entrepreneur interview, we’re speaking with my friend and former colleague Jon Boller, co-founder of Grid Consulting. Jon and I worked at Zillow together “back in the day”. He was one of the first 5 inside sales representatives Zillow hired in 2008, consistently outperformed the vast majority, and rose through the ranks over the years to lead the new ventures team.

Without further ado…

What do you do?

I am the Co-Founder of Grid Consulting, we work with growth-oriented team leaders and brokers on their strategy and operations to improve their margins & ROI.

What problem does your product/service solve?

The real estate industry has a million products, coaching programs, and lead sources that professionals pay for, however, there isn’t one company that focuses on helping the agent get more out of their dollar. I spent 9+ years at Zillow Group as the Senior Director of the New Ventures team, this new company is our way of taking what we learned from Zillow Group building multiple 100+ teams that were operationally strong and applying our learnings objectively for a small subset of growth-oriented leaders. We are here to help you make more money frankly.

What are you most excited about right now?

Disruption and the uncertainty of the Real Estate industry. There’s so much Venture Capital money flowing in and some are making big bets, others are just kind of dipping their toes into the water. I’m pumped to see whose big swings pay off and what the industry looks like in 12 to 24 months.

What’s next for you?

We’re building a brand that is going to be synonymous with success in Real Estate. The beauty in being independent is that we can attack challenges and problems from a super objective place, we’ve always been known for our speed, execution, and ability to think 2 years ahead, now we get to apply that for a broader group of professional partners. I feel more inspired and enlightened now than ever before.

What’s a cause you’re passionate about and why?

I’m passionate about people chasing their dreams and continually evolving.

You can have a job, or you can have a career, or you can have a calling, and if you can somehow figure out how to have a calling, you have hit the jackpot, cause that’s the big deal.
– Bezos

Thanks to Jon for sharing his story. If you’d like to connect, find him on LinkedIn here.

We’re constantly looking for great real estate tech entrepreneurs to feature. If that’s you, please read this post — then drop me a line (drew @ geekestatelabs dot com).

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from theokbrowne digest http://geekestateblog.com/meet-real-estate-tech-founder-jon-boller-grid-consulting/

Indie Brokerage Intown Expert Realty Is Now Nest Realty Atlanta

I’d like to congratulate one of our Geek Estate Mastermind members, Jennifer Kjellgren (previous interview here) for her new partnership with Nest Realty. Intown Expert Realty is rebranding as Nest Realty Atlanta. With 11 offices throughout North Carolina, Virginia, Tennessee — and now Georgia — Nest Realty is a company methodically building a culture focused brokerage. I believe they started franchising last year, you can see their current “pitch” here.

So, why did Jennifer decide to join a larger franchise?

While the numbers are important, our focus remains on the consumer experience, a real estate transaction very complicated and emotional, and we value Nest’s commitment to elevating that experience through custom marketing plans, investment in technology and smart growth.”

Indie and Boutiques, and Tech-Enabled Brokerages/Franchises

One topic I’m particularly interested in is the fierce competition between the various franchises/brokerage offerings. I touched on the topic of the “tech-enabled brokerage pitch” a few months ago. I want to better understand why people are joining these companies, and what they are doing in terms of recruiting.

If you are an agent, team leader, or brokerage contemplating a switch and have spoken to any/all of these companies, I’d love to speak with you.

The post Indie Brokerage Intown Expert Realty Is Now Nest Realty Atlanta appeared first on GeekEstate Blog.

from theokbrowne digest http://geekestateblog.com/indie-brokerage-intown-expert-realty-now-nest-realty-atlanta/

Professional Real Estate Appearance – Manolos or Flip-Flops?

In case you haven’t noticed, real estate is all about perception – from how your listings are presented to how you, as an agent, are perceived. And that where professional real estate appearance come into play.

Call it “agent curb appeal.” It’s the clothes you wear, the car you drive, how you wear your hair and makeup and even how you present yourself online.

And, just as a home’s curb appeal, or lack thereof, can get people out of their cars or send then screeching down the street, so can your personal appeal make the difference between getting the listing and walking away with an unsigned agreement. That first impression is everything.

Want to start making a better first impression? Try LeadSites – and connect with your clients on a personal level.

Yup, a professional real estate appearance matters

And, by “professional real estate appearance,” we aren’t saying you need to be drop-dead, celebrity-caliber gorgeous to make it in real estate. When we judge another’s appearance we employ not only sight, but sound as well, and it’s all processed subliminally.

“… many of our social decisions essentially amount to a vote: whom do we hire, whom do we date, whom do we trust? … we like to think we are examining the person on his or her merits, not on looks. But are we?” asks Leonard Mlodinow, author of “Subliminal: How Your Unconscious Mind Rules Your Behavior.”

And this all happens in the time it takes to blink an eye— within one-tenth of one second, to be exact. Sadly, “longer exposures don’t significantly alter” those first impressions, according to Eric Wargo on the Association of Psychological Science’s website.

Our faces tell people whether we are competent, likeable and trustworthy. In fact, in studies, trustworthiness was the trait that participants were able to assess most quickly.

Project your trustworthiness by smiling warmly and maintaining eye contact, recommends Heidi Grant Halvorson, author of “No One Understands You and What To Do About It.

She also says to sit up straight and nod frequently to show the other person that you’re listening.

Naked people have little or no influence on society

Or, so claimed Mark Twain. Believe it or not, psychologists have studied the ways our clothing influences others’ impressions of us. Ben C. Fletcher, professor of psychology and author, writes about one of these studies at PsychologyToday.com.

Study respondents formed judgements about a man within three seconds of glancing at photos of him. In one photo, the man wore a tailor-made suit while in the other he wore an off-the rack suit. His face was pixelated to avoid judgments made on his facial expressions or attractiveness.

When he wore the more expensive suit he was judged to be more confident and successful than when he wore the store-bought suit.

Dr. Fletcher also mentions another study of teachers that finds they treat their students differently, depending on what they are wearing.

“What we wear speaks volumes in just a few seconds,” he warns. “Dressing to impress really is worthwhile and could even be the key to success.”

Does this mean that agents should dress up to go to work? Not necessarily. Another study, conducted in 1986, found that casual (yet conservative) clothing portrays a “reliable and self-controlled personality.”

But dressing to impress whom? In fact, in the study, people in dressier clothes “created a sense of unease in others.”

So, what to wear? Match your choices to those of your clientele, suggests the oh-so-fashionable Herman Chan. “For example,” he says, “if you’re selling a junior, one-bedroom condo in a working-class neighborhood, you don’t want to show up in a Gucci suit and your Jimmy Choos because, well, that’s going to erect a barrier between you and the clients.”

Get Outta my Dreams, Get into my Car

When it comes to agents and the cars they drive, there is seldom agreement. While some agents believe that the luxury car they drive gives potential clients the impression that he or she is successful, others feel that if what they drive is presentable, they’re good to go.

We agree that many people assume that the driver of a luxury car is successful, we also don’t think that potential listing clients care that you make a lot of money. Their primary concern is that you’ll help them make money.

Most of us consider medicine to be a lucrative career and assume doctors make a lot of money, if they’re successful. Yet, most U.S. physicians don’t drive luxury cars. In fact, the largest share of them drive Toyotas and the second most popular vehicle for docs is a Honda, according to a MedScape survey.

Why does Mark Zuckerberg drive an Acura and fellow billionaire Ingvar Kamprad, founder of Ikea, drive a 1993 Volvo 240? If Alice Walton, heiress to the Wal-Mart fortune can tool around in her 2006 Ford pickup, can you get away with it as a real estate agent?

That’s a lot of questions, but we have one more: If your lawyer drove an older Nissan Sentra would you find another lawyer?

Take Herman Chan’s wardrobe advice and apply it to the car you drive, and you’ll be fine.

Your online professional real estate appearance matters

We must hand it to the real estate industry – some of the best-looking websites we’ve seen belong to real estate agents and brokerages (and the very best are Easy Agent Pro sites).

Yet – can you believe this? Nearly 10 percent of you don’t have websites. Don’t get us started on how few agents have blogs on their sites. That just boggles the mind, doesn’t it? How can you demonstrate your online professional real estate appearances without a proper website?

Thank goodness you aren’t that dim. But, exactly what kind of professional real estate appearance does your site offer? Consider taking a survey friends, family and even former clients to get their opinions.

When considering your professional real estate appearance, compare it to staging. The former is real and lasting; it requires planning, action and maintenance. The latter, although enticing, is fake and is meant to disappear when the deal is done.

Since most of us believe that an agent’s highest duty is honesty, skip the staging and go for the curb appeal.

Ready for a professional real estate appearance that translates through to your website? Check out LeadSites.

Ready to start dominating your market? Check out these tips to supercharge your business.

Use your professional real estate appearance to grow your business with video:

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from theokbrowne digest https://www.easyagentpro.com/blog/professional-real-estate-appearance/