The "Pareto Principle" states that eighty percent of results come from twenty percent of efforts. This is widely known in real estate as the "80/20" rule, wherein roughly twenty percent of agents make up eighty percent of sales. This dynamic is understood as becoming part of the "vital few"--or, the twenty percent. Clearly, you want to firmly plant your business in the land of the twenty. And there is no better way to establish that trend for yourself and your business than by identifying and prioritizing the 20 percent of tasks within your control that will lead to 80 percent of your sales results. Following are some tried and true methods on how to become one of the vital few: … [Read more...] about How to Become One of the Vital Few
real estate market
Knowledge is Power: Things Affecting Real Estate Now
"To know what you know and what you do not know, that is true knowledge." - Confucius As a real estate agent and business owner it's important to have some knowledge of what may lay ahead. The market dislikes surprises and the spring-summer sell season surprised many with its lackluster sales and a housing market often described as "frozen." Buyers and sellers alike faced strong headwinds such as unaffordable housing prices, higher than expected mortgage rates, and sky-high insurance and taxes. Meanwhile sellers struggled to adjust to a market that was less enthusiastic than in the recent past. The somewhat irrational exuberance seen in yesterday's post-pandemic era has come and gone. This has resulted in an increase of 47% more delistings in June as unbelieving sellers pulled their … [Read more...] about Knowledge is Power: Things Affecting Real Estate Now
Ways to Avoid Deal Cancellations
Owning a home has many advantages, such as being able to call your own shots and building equity over time. After all, it's a foundational part of the American Dream. But it can also be expensive, especially when it comes to maintenance and repairs. Meanwhile, would-be homeowners are being further spooked with high interest rates, high property taxes, expensive insurance and an uncertain employment market. As such, many buyers are priced out of the market altogether or choosing to sit on the sidelines in the hope that prices will ratchet down. In today's market dynamics, renting often makes more sense than buying. Recent statistics show that almost 15% of pending home sales fell through in the month of June alone. A good number of buyers are choosing to back out of deals as they sense a … [Read more...] about Ways to Avoid Deal Cancellations
9 Great Things Agents Love About the Fall Market
Hopefully home sales were brisk during the spring sell season, despite the fact that the current real estate market has been described as "frozen." The good news is that there's still time to make your mark for the year as fall approaches. Fall can be a surprising "sweet spot" for many agents. Here are 9 great things about the fall market: … [Read more...] about 9 Great Things Agents Love About the Fall Market
How to Make Sure Your Deal Survives Homeowner’s Insurance
The real estate industry has seen a freight train of change over the past five years and it doesn't appear to be slowing down anytime soon. Those of you who have survived--and even thrived--deserve every accolade. Reading the tea leaves, one thing continues to loom ever larger on the horizon of the American Dream of home ownership: Insurance. Only a few years ago homeowner's insurance was barely given a second thought. Those halcyon days are long gone with the ever increasing reality of climate change in the form of fire storms, hurricanes, tornados and floods. You and your clients may well weather the storm of limited inventory and higher interest rates only to be leveled by homeowner's insurance. Here's how to make sure your deal survives homeowner's insurance: REASONS FOR THE CURRENT … [Read more...] about How to Make Sure Your Deal Survives Homeowner’s Insurance