The Connect Times

Boost your business with these LinkedIn pro-tips

Sean Jackson, all-around smart guy at Copyblogger.com, recently shared this excellent article with their readers on how to maximize your presence using LinkedIn. With LinkedIn’s recent IPO, the “buttoned up business” side of social media is sure to get a boost. Don’t miss this great article with Sean’s tips:

http://www.copyblogger.com/linkedin/

Sean breaks it down into two main categories to tune-up: Your profile and promoting your business. Here are the headlines (but be sure to check the article for the details!):

For your profile:

1. Don’t get clever with your picture
2. Headlines matter (as always)
3. You are more than your job
4. Create connections that matter
5. Work your recommendations
6. Don’t waste your summary
7. Flesh out the details
8. Drag the conversation along
9. Don’t forget SEO benefits

To promote your business:

10. Update your email signature line
11. Explore the rest of the tool kit
12. Dominate the All Updates area
13. Create your own LinkedIn group
14. And speaking of email…
15. Work your company page
16. Manage and mine your data stream

Read step-by-step instructions at:
http://www.copyblogger.com/linkedin/

(It’s worth browsing the comments section, too. Sean addresses many questions you may have yourself.)

Help clients see the big (local) picture.

If you find yourself with a client who seems unduly focused on the size and amenities of homes on the market, you might want to spend a little time helping them see the big picture in terms of neighborhood benefits.

Often first-time buyers suffer from this tunnel vision that focuses almost exclusively on the home. If you run into this “biggest house with the best features on the biggest lot I can buy” mentality, you have an excellent opportunity to start a neighborhood conversation which can, in the long run, make your client happier with the home they eventually own.

Here are four excellent questions to ask your client in order to get a “neighborhood conversation” going:

1. Tell me, if you had to choose between a smaller home and a longer commute, which would you choose?

2. How important is it to you to be able to walk to grocery stores, restaurants, and other local businesses?

3. Are you concerned about having access to sidewalks and parks?

4. What about your current neighborhood bothers you? What do you like about it?

While buying the neighborhood may seem obvious to you, many clients haven’t taken a step back to consider the big picture of home ownership.

Here’s a great article from HGTV you can also share with them to get neighborhood conversations going:

http://www.frontdoor.com/Buy/How-To-Choose-A-Neighborhood/1162

Every year about this time the county appraisal districts send out the new appraised values for homes and other real estate in the area. These appraisals are performed by county appraisers in most cases and determine the amount of ad valorem taxes property owners will pay for the current year. Historically these values have not changed much from year to year. They tended to track the increase in actual value increased experienced by a particular property

In recent years however home values have decreased somewhat and at the same time the tax appraisals have continued to increase slightly. This year however we have noticed that in some cases valuations were increased a much larger amount than in previous years. This appears to be a result of the deficits the states and the local municipalities are facing. They are looking for sources of revenue anywhere they can find it. New fees and fines are also being used as source of revenue.

In the past most home owners have accepted the small increase in appraised value even though their homes clearly were worth less than in the prior year. The reason for not appealing valuation is probably due to the hassle and time consumed in doing so.

In some cases the amount of increase in value is a considerable amount. It appears that the appraisal district will find a particular sale in an area at a higher price than is usual for the area. The reasons for the higher sales price could be attributed to factors directly affecting that particular house. For example, new pool, bathroom and kitchen remodeling or some other improvement. Notwithstanding the reason, the district appraiser a whole group of nearby homes at the much higher value. This is clearly bad appraisal procedure and can be pointed out on appeal. But many homeowners won’t appeal and several homes will be increased in value incorrectly. This will have a detrimental effect in the future years for the entire neighborhood.

This is a great opportunity for local realtors to offer something of value to area residents. By getting to know the procedures and people involved at the county an agent can provide a great service to many homeowners in the area. Most of the effort needed to handle the appeal does not require a tax specialist or attorney. If one is needed at some point they can be hired to handle the situation. This should help show residents that you a willing to go past just selling or helping them buy a home.

Source: American Crest/05/2011

How much impact does a short sale have on FICO® Scores? How about a foreclosure? Since I frequently hear these questions from clients and others, I thought I’d share new FICO research that sheds light on this very subject.

The FICO study simulated various types of mortgage delinquencies on three representative credit bureau profiles of consumers scoring 680, 720 and 780, respectively. I say “representative profiles” because we focused on consumers whose credit characteristics (e.g., utilization, delinquency history, age of file) were typical of the three score points considered. All consumers had an active currently-paid-as-agreed mortgage on file.

Results are shown below. The first chart shows the impact on the score for each stage of delinquency, and the second shows how long it takes the score to fully “recover” after the fact.

All in all, we saw:

• The magnitude of FICO® Score impact is highly dependent on the starting score.
• There’s no significant difference in score impact between short sale/deed-in-lieu/settlement and foreclosure.
• While a score may begin to improve sooner, it could take up to 7-10 years to fully recover, assuming all other obligations are paid as agreed.
• In general, the higher starting score, the longer it takes for the score to fully recover.
• Even if there’s minimal difference in score impact between moderate and severe delinquencies, there may be significant difference in time required for the score to fully recover.

This study provides good benchmarks of score impact from mortgage delinquencies. However, it is important to note that research was done only on select consumer credit profiles. Given the wide range of credit profiles that exist, results may vary beyond what’s in the charts above.

Source:   Unknown 04/11

Have you ever noticed that though the internet gives people a free forum to express their ideas and opinions 9 times out of 10, they use it to complain?

If you want to differentiate yourself online, one of the easiest ways is to use it as a channel for praise. Praise what you like and ignore what you don’t. There’s no value in expressing negativity online, while there’s a considerable upside to singing the praises of others.

What’s more, it’s a great marketing strategy for your business. It’s no secret that people like to work with positive people. A great way to spread your positive image is to go out there and use all of the web tools at your disposal to shower praise on the businesses and people you support.

Become a testimonial machine! Make a list of all of the small businesses in your community that you support. Where do you love to eat out? Is there a local fishing shop you support? Bike store? Who are those “Main St. USA” business owners that make you proud of your community?

With that list in mind, look for opportunities to express your support for them online. Get on Facebook and record a video testimonial with your webcam. Write a post on your blog describing who in your community makes your year brighter. Put together a simple PDF document that you give to clients, listing the businesses in your community you love and why.

When you project this positivity and enthusiasm for your community, you’ll receive the positivity in return. Genuinely marketing for others is a powerful tool.

Source: Scott Levitt 04/2011

“All the world is a laboratory to the inquiring mind.”
–Martin H. Fischer (physician and author, 1879 – 1962)

One advantage the internet provides you over professionals of the past is the ability to rapidly research the others’ experiences when it comes to new marketing and business ideas. It only takes a quick Google search of your newest “one of a kind” idea to find that someone, somewhere has not only had the same idea, but tried it out.

While there’s a certain amount of pride to be had in coming up with an idea or approach no one has tried, it’s far more productive to seek inspiration from those who have tried ideas and learn from their experience. If you ever have an idea for your business and you don’t Google around for related ideas, you’re making a mistake. Even a half hour of research might save you weeks of trial-and-error experimentation.

In researching an idea, don’t confine yourself to “official” articles published on mainstream websites. Dig through blogs and read the comments. What you’re almost always looking for is the first-hand, on-the-ground experience of someone who has tried a similar (or even opposite!) approach. Keep notes, including links to the pages where you found the discussion, in case you need to refer to them later, or ask questions.

There is no guarantee that exploring the great laboratory of the internet will give you an answer, but it might save you time, give you winning insight, or reveal that what you thought was a brilliant idea turned out to be a disaster for others. With a little applied research, you can stand on the shoulders of business giants.

Source: Scott Levitt 03/2011

What you don’t do may be as important as what you do.

Some ideas are so good we wish we could take the credit for them. Unfortunately, we can’t call this one original, so our hats go off to Tom Peters for first introducing this concept this way and Daniel Pink for introducing us to Tom.

A “to don’t” list is “an inventory of behaviors that sap energy, divert attention, and ought to be avoided.” You know, those things which keep you from executing your best ideas. The little things (or even big things) that block your from following up on your best intentions. Daniel Pink reports he keeps a list of these activities tacked above his desk.

What keeps you from focusing on your best ideas? Is it too much time on Facebook? Tracking a fantasy sports team online? Reading trashy magazines? Sometimes pursuing “too many good ideas” is something that deserves to be on a to-don’t list. Pick the best and stick to them… don’t chase every shiny new idea you come up with.

Make a to-don’t list. Write them down. Keep them handy. They’ll help you focus on the to-dos in your life.

Source: Tuesdaytactics.com 03/2011

Would you call yourself a Leader?

Most importantly, do others describe or perceive you as a Leader?

Do you think a real estate agent can earn a real income if they aren’t a Leader?  I don’t.

Here’s why. . .

If You’re Not A Leader, Then You’re a Follower.

We earn real income by attracting and delighting our clients and closing real estate transactions.  The cycle never stops.  When it does, bye-bye big bucks.

The reason it’s next to impossible to earn a brow raising income if you’re not a Leader is this.  Followers don’t attract.  They um, follow.  Leaders attract Followers. Well paid agents all attract. They attract Followers who believe their Real Estate Agent Leader knows what she’s doing and can make good and wonderful things happen.  They believe their Leader will help them fullfil their dreams and aspirations.  The Leader gets paid for doing so.  If we can’t attract, delight and keep Followers, what do we really have?

If you’re with me so far, then we can conclude that whether we think we’re a Leader or not, if we want better than average success, we should behave like Leaders.  Right?  But what if we don’t think we’re really a Leader. Not everyone’s a Leader ya know.  What then?

The solution is simple.  I suggest we simply behave like a Leader.

You know what a Leader behaves like right?  Yeah, I know.  There’s a spectrum of Leadership styles.  You’ve got your maniacal Leaders like Hitler, charismatic Leaders like Oprah and other types we could list off.  People like Kennedy, Gandhi, Dr. King, Susan B. Anthony and so on. I don’t believe we should focus on Leadership Styles.  I feel like we should focus our attention and model our behavior based on the positive common character traits shared by all Leaders. I think if we Lead based on the common positive character traits that all Leaders share, the appropriate style for the situation will occur naturally.  So the next question is this. . .

What Common Character Traits Do All Leaders Share?

I believe the dominant traits are:

Passion and Devotion

All the other good character traits probably fall under Passion and Devotion as subcategories or descriptions-of.  If we run our daily intentions, actions and interactions through an Am I Executing and Engaging with Passion and Devotion Filter, it’d be easy to figure out.  We’re either Leading or Following.  Attracting or not.  We’re gonna earn fatter stacks or we’re not, depending.

If It Was Easy Anybody Could Do It.

Passion and Devotion are scary words. They’re All-In words. Do both and you’re burning your boats and torching your bridges for what you believe in.  I guess that’s the spooky point and why so many real estate agents make so little money.

There’s no way to turn a blind eye or pussy-foot around it.  Being a Leader is the opposite of easy.  But, if we want to earn what Leaders earn, we have to decide that we’re in-it-to-win-it.  That means we have behave like Leaders and torch our escape boats and bridges.  Which is to say, we have to be Passionate and Devoted about delighting our clients, suspects, prospects, neighbors, friends and friends of friends.  No easy feat.

The Only Thing Stopping Us Is Us

Not everyone is in-it-to-win-it and that’s OK.  If a few satisfied clients is satisfactory, then Leadership isn’t a big deal. No sweat, rock on.

Ah, but if you need to achieve more, then behaving like a Leader will get you there and keep you there.  Deciding to Lead will change everything for you. I know this because I’ve seen it happen over and over again.  And so have you.  The rare ones that decide to do-or-die, they always RISE.   And so would we.

Everyday our actions and interactions define us.  Will I be a Leader or a Follower?
Source: Ken Brand 02/2011

It’s big but you can’t see it. So great that if you could see it you wouldn’t believe it. It’s your destiny and it’s calling you. If you don’t believe me just remember Albert Einstein. He could not speak until he was four years old. He did not read until he was 7. His parents thought he was mentally challenged. Or how about Beethoven. His music teacher said, “As a composer he is hopeless.” And let’s not forget Muhammad Ali. His teacher once told him he wouldn’t amount to anything. He showed her and the world that he was the greatest after all.

The Google guys tried to sell their business to Yahoo for a few million dollars and twere told to come back when they were finished with their little school project. Steve Jobs was once fired from Apple. We all know Helen Keller’s story and we certainly all know our own story.

Every day we face challenges, fears, obstacles, and negativity that hits us with left jabs and right hooks. We get so caught up in the details of bills, job pressures, raising kids, fixing the house, car payments, trying to make a living and a hundred other to-dos, that we can’t even see over the piles of paper on our desk never mind—our future success.

But when times are tough and your bills are bigger than the balance in your checking account; or when your business has slowed down and you’re not sure what to do next; or when your future is uncertain and all feels hopeless… these are the times when you need to realize the most—that you are part of a bigger plan. There is greatness in you. There is a Big Life Plan for you.

Your destiny sits inside your soul like DNA sits inside your genes. You may not be able to see it but its there—waiting to unfold if you let it. Don’t let yourself get caught up in the crashing waves. Instead jump those waves and keep your head up looking out into the horizon.

And if you experience a wave so big that there is no way you can jump it, then ride it. Learn from the surfer who challenges wave after wave, growing stronger, developing more balance, and becoming more skilled every day. A smooth ocean never made a skilled surfer and a struggle-free existence never made a meaningful, great life.

The next time you are facing a difficult situation remember that there is more than what is in front of you. There is a challenge, a lesson, and a plan.

Emerson said “The wise man in the storm prays to God, not for safety from danger, but for deliverance from fear.”

Don’t let fear get in the way of the life that is meant for you. Einstein, Beethoven , Muhammad Ali, and Helen Keller show us that anything is possible. They are real people who overcame their obstacles and doubters and discovered their greatness.

Trust that there is a plan for you and let the possibilities unfold. In the process you will discover the great things you are born to do. You don’t have to push. Just trust and your destiny will meet you when the time is right.

Source: Cleo Shivers 02/2011

“In giving advice seek to help, not to please, your friend.”
–Solon, Athenian Statesman, 638 BC — 558 BC

 Balancing the desire to land a listing  against  the ethical and professional  obligation to give the best possible advice can be hard. Almost everyone has lost a client to an agent who “bought a listing” with unrealistic promises. While it can be frustrating, it’s best to keep the following in mind:

If you speak to please instead of counsel, you’ll end up a slave to what your clients want to hear.

Cultivating a habit, even unintentionally, of saying only the easy or pleasing thing will ultimately cost you a great deal in the long run. To establish your credibility, it’s key that you not only counsel based on your experience, but have the ability to show clients the how and why of your counsel. By providing data, stories of previous transactions, and even testimonials or references from other clients, you can help turn “bad news” or “disappointing truths” into proof as to why you are a professional looking out for your clients’ best interest.

The hazard of seeking to please is this: Before you know it, your client will see you as their “sales assistant.” You won’t be working alongside them, guiding them, you’ll be receiving orders: “More ads!” “More open houses!” “More showings!”

It’s very hard to reverse this trend in a client/agent relationship once the ball is rolling. The best thing to do from the start is manage the relationship as the professional counsel you’re hired to be. If it costs you a few clients along the way, don’t worry– those clients likely would have cost you much, much more.