Market Talk Weekly

Thank you for joining me for The Attitude of Success. Some years ago I attended survival training at an outdoor wilderness survivals school. The training was facilitated by a former U.S Air force SEAR Instructor (SEAR stands for; Survival, Evasion, Resistance, Escape). In this class they teach what steps you should take to survive a crisis situation and in what order, such as water, then shelter, then food.. They also stress there's one element that has to be at the top of the list to survival and this goes for survival in any situation and that is PMI or positive mental attitude. How you think about a situation will most often be the determining factor in the outcome. And just like our need for food and water, PMI isn't something you check once and forget. It has to be ongoing. The moment your attitude turns the corner and you start doubting your ability to survive is the moment you start a down spiral to failure. I recently watched a TV show called Alone. The show is all about survival in some of the toughest elements in the world. Alone is an American survival competition series on the History channel. It follows the self-documented daily struggles of 10 individuals as they survive alone in the wilderness for as long as possible using a limited amount of survival equipment. With the exception of medical check-ins, the participants are isolated from each other and all other humans. They may "tap out" at any time, or be removed due to failing a medical check-in. The contestant who remains the longest wins a grand prize of $500,000 If you watch this show, pay attention to each participant's attitude. In every situation when discouragement wasn't dealt with and allowed to linger, it resulted in the participant tapping out. Again, how you think about your situation will determine the outcome in most cases. **Listen to the podcast for the whole episode of The Attitude of Success. What's My Home Worth? | Start Your Home Search

In this episode we'll discuss Leveraging the power of Social Media. There's no denying real estate has seen some major changes over the last 20 – 30 years. In the past real estate agents didn't have an MLS to count on. Most areas had a weekly published/ printed report that came to their mailbox, not their inbox  and if they wanted more information about a property they would call the agent or get in their car and go visit the property. Advancing technology With the advancements in technology, specifically the internet and social media we've become somewhat better connected. Better connected that is, as in, sharing information more easily. However, social media is anything but social. As a real estate agent, if all your doing is counting on social media to promote your business, you're setting yourself up for failure. However, if you're not using social media, you're really missing out on a valuable tool. So how should we be utilizing social media? First of all there are some rules you should be keeping when it comes to what you post and how you represent yourself on any platform. Do not give away your political affiliation. Meaning, no one should know who you vote for or how you vote, weather you lean left or right. This is not a political forum and staying neutral will allow you to maintain a customer base that's not limited to one affiliation or the other. Be professional. This goes for the way you talk, the way you dress, and the things you share. Don't post anything lewd, vulgar, or racy. Be kind. Remember as a real estate agent you should be working to build trust with potential clients and customers. People are going to check out your social media account Listen to the podcast for the rest of the episode.

2-Minute Market Update What's My Home Worth? | Start Your Home Search

In this episode we'll discuss, What New Agents Should Look for When Choosing a Brokerage. Does this sound like you? You've toiled with the idea of becoming a real estate agent for years. From time to time you've looked into it but just weren't ready to take the plunge, until now. You've put in a lot of hard work taking your pre-licensure real estate class, and finally passed your real estate exam and now you're ready to get busy selling real estate. The only thing standing between you and the life you've been dreaming about is finding a broker to work with. Aren't all Brokerages Created Equal? Of course it's just a brokerage and after my real estate class I've learned all agencies are held to the same standards, so, I'll just pick one and ask if I can join. After all aren't all agencies pretty much the same? Surely they all offer pretty much the same thing right? No, that couldn't be further from the truth. Choosing the right broker is a critical step in your real estate career and your choice can either help make or break your career. So choose wisely. This is an issue that comes up in all of my real estate classes, what should I look for in a broker and then also, what kind of questions should I ask? Now there are some really good brokerages out there but there are also some down right rotten agencies too. Brokerage Philosophy It's my personal belief that there are two different philosophies found in real estate agencies. The first believe agents come and go so we are going to get what we can from them in fees while they are here. Believe it or not some agencies create a revenue stream from charging their agents fees. The second philosophy fosters success by limiting unnecessary fees and providing the tool, resources and support to help the agents succeed. So what should you be looking for in a brokerage. First let me clarify, I'm not saying that just because an agency charges fees they're sharks. That's not the case at all. However, there should be some value backing those fees. What are they offering you that would justify them charging fees? It's like taxation without representation. There needs to be a purpose that benefit the people. Why are you charging me this tax? How does charging that tax benefit the people. The same is true in real estate. If the broker is charging a fee, how is that benefiting the agents? Remember your looking to be setup for success and you will need a lot of support your first year. Who Benefits Keep this in mind too. There are benefits that help new agents and there are benefits that seasoned agents look for. For instance, you might come across an agencies that offers a cap on commissions. It might be once you meet a certain gross commissions or gross sales. Lets say the cap is at $20,000 in Cross annual commissions. This means no matter what the commission split was at the beginning of the year, once you reach 20K in gross annual commissions you no longer share commissions with the agency, you get 100% of the commission. Now that sounds like a really good thing doesn't it? And it is, however, it doesn't mean anything if you don't sell real estate. This is a feature a seasoned agent might be more inclined to benefit from. As a new agent you should be more focused on the learning and support you'll receive. When you meet with an agency representative to speak about their firm, consider asking some of these questions to see if this is going to be a good fit for you. Questions to Ask How long have you been in business? How many agents do you have? If they are a new brokerage they might still be in a learning period and not have all their processes, application and training in place or it may not be honed in to be effective. What is the commission split. This is definitely not a one size fits all. In fact its against anti trust laws for brokers to collaborate on a set fee. Remember you are going to be a private business owner. You not working for them but with them. Traditionally you'll be putting out your own money for everything. You'll hear commission splits such as 60/40, 70/30, 80/20. With each my expectation would be that I'm getting the larger number. Also keep in mind the highest split doesn't mean a thing if you don't sell anything. This leads to your next question. What type of support will you offer me? Is there training, or mentoring? How does that work and how much will it cost me? The best agencies have structured training and usually ongoing training. If they have a mentoring program what does that look like and cost? Ask about software applications they offer and once again is there a technology or software fee. Typically you will get better applications with larger franchised firms such as Century 21, Caldwell Bankers or ReMax. Having good software applications is going to help you work smarter not harder. At the very least you would want to have a CRM which is a customer relationship manager. This is your customer database that you'll be keeping all your info about clients and customers. A good CRM is also going to have features like drip campaigns, newsletters and mass mailing options that check the opt-out feature so your not sending spam email. What other fees will you be required to pay? Some offices charge desk or office fees, as well as a plethora of other fees. You'll probably be required to have Errors and Omissions Insurance so ask about the cost for that. Will I be required to attend meetings, is there a sales quota, will I have to come in to answer office phones or do any office administrative work? And are there any other expectations I should know about? More to consider Now that's just a few questions to ask, remember this is a two way street, they are interviewing you, but you're also interviewing them. I'd suggest you met with at least three brokerages before you make a decision and while your in each office take notes, but also pay attention to your surroundings. How do they interact with one another? How does the person meeting with you make you feel? Was the meeting on time or were you made to wait? Do you feel comfortable with that person and being in the office? The brokerage should not only meet your expectations for training, commission and applications but it needs to be a place you feel comfortable. My Own Experience For me when I started in this field I needed a broker whose morals and character closely resembled mine. I believe in the old saying bad company corrupts good morals. So I didn't want to get into a shark tank and I didn't want to be in an office with arrogant, rude or un-trusting people. I wanted to be with someone I could trust and someone who I felt, it mattered to them, that I was there. I also needed someone I could talk to without feeling like I was bothering them. My faith is also something that is very important in my life and I wanted to be with a broker who shared my beliefs. For me, I found that and more. Well good luck on your journey. Resources Available I want to invite you to visit my website at markettalkweekly.com and while you are there check out my learning center which offers a few free classes on prospecting for clients. You'll also find a document library there with many of the forms I've discussed on the show. You'll also find a form to use when interviewing agencies with the questions I've discussed in this episode. This is all free to access and free to download. You'll just need to create a student account to login. If you'd like to contact me about anything you've heard on my podcast or just have a question or an idea of an episode you'd like to hear just go to the bottom of the page on that website and complete and submit the online form. I want to thank you for listening to another episode of Market talk weekly. And as always if you haven't done so yet, please click on subscribe so you don't miss a single episode of Market talk weekly. What's My Home Worth?   |   Start Your Home Search

This weeks episode is,  Goal Setting: The Key to Success. Goals are extremely important not only to your real estate career but to your life because you can't manage what you don't measure and you can't improve upon something that you don't properly manage. By setting goals and utilizing them as a plan you will be greatly improving your chances for success. Listen to this weeks episode for complete details. What's My Home Worth?   |   Start Your Home Search

2-Minute Market Update for real estate in June, month to month, and year to date. What's My Home Worth? | Start Your Home Search

In this episode you'll learn, how to be an influencer. I'm sure at some time in your life you've wondered, what others think about you. How they perceive you? I believe it's only human nature. Of course there are people who say, I don't care what other people think about me, I'm sure you've heard that before, maybe you've said it yourself, I know I have. However it wasn't true. It's in our nature to care what people think about us. In fact, studies have shown this to be one of the strongest influences of human behavior. That's why it's so important that you get into an agency that's going to be a positive influence on your life. In fact, when I see an agency with several agents who are disrespectful, arrogant, self centered, it gives me a pretty good idea of the office environment and most often it's the broker or managing broker who is the influence. Bringing Past Experience into Real Estate When I worked at the Rescue Mission I became a Mandt Trainer. Mandt is a wonderful program that teaches people how handle difficult events, how to help deescalate situation and how to help people in crisis. One of the first things a helper has to do when someone is angry, or out of control or in crisis, is remove the audience. Removing the audience gets rid of that strong influence that prevents a person from deescalating because not only are they dealing with what got them going in the first place, they are performing for the people around them to maintain what they believe is their image. Or their street credibility. When I left the Mission and got into real estate I still had the mindset I wanted to help people. But not only that I wanted to inspire, and encourage people to be the best they can be. I wanted to have a positive impact on the lives around me. That's why I became my agency instructor, it positions me to help others. [Listen to the podcast for the whole story] What's My Home Worth? | Start Your Home Search

Do you know what makes a successful real estate agent? Listen to this week's episode, 4 Traits of a successful Real Estate Agent and lean about the model that will establish clients for life. Welcome to another episode of Market Talk Weekly. When I first became a realtor, I honestly didn't like the idea of being a sales agent. And the reason being was because my idea of the typical sales person was someone who was very outspoken, sometimes a bit pushy and, based on some of my experiences, dishonest. Now of course that doesn't mean every salesperson is like that and I have had some good experiences with salespeople too. Another contributing factor to my not wanting to be considered a sales person was due to my background. I came into this business from the human services industry and more than anything I wanted to help people. Even after I took my required state class and passed the state exam, I still wasn't 100% sure that I wanted to be a real estate agent. I just didn't want to turn into a shark and I didn't want to be in a Shark Tank. What I mean by that is, I didn't want to be put into a situation where I'm competing with the people in my office and I can't trust them and I always got to look over my shoulder. I also didn't want a career that was all about money. Now you may be thinking, just be your own person and don't allow yourself to be influenced. Well, let me just tell you, in my 50 plus years on this earth I've learned that the saying, bad company corrupts good morals is so true. You have to be very careful when it comes to putting yourself into a new environment. Well today I want to share with you 4 traits of a successful real estate agent. 1. Successful agents are particular about the people they surround themselves with When I took my class to become a real estate agent, I remember sitting there with roughly 40 other students and feeling extremely out of place. I had been working as the Director of Shelter Services at a large faith-based Rescue Mission and I was surrounded by like-minded people who were there for the same reason as me, to help hurting people. As I sat in the class the instructor gave the impression this was all about the money, and look out for yourself above all else. Not only that, his language was anything but professional. He didn't think anything of dropping the f-bomb or telling a dirty joke. It was due to that instructor that I almost didn't get into this industry. What I did after passing my state exam is what every person should do in that situation, I started interviewing brokers. So many new agents jump into business with the first broker they talk to and that's such a bad idea. The broker you choose will either add to your success or failure. To be a successful agent you should be very particular about the agency you join. You want a broker who is going to build you up and help you be the best you can be. If you are in a brokerage right now and either don't trust your broker, don't feel like you can ask for help whenever you need it or aren't getting the tools and resources needed to help you succeed, get out! Get out now. The longer you stay the more likely you'll fail. There are a lot of good brokers out there who you can trust, who will help you be successful and who aren't about creating a revenue stream based on a lot of unnecessary fees they charge agents. 2. Successful agents focus on Building relationships not making sales I told you I didn't like the idea of being a salesperson and even today after being in this industry for years I don't consider myself a salesperson. Rather than being sales focused I'm relationship focused. I teach the state required pre-licensure class for prospective agents and I always tell my classes, you don't have to be a salesperson, you don't have to be the most outgoing or social person but one thing you do need is to like people. If you are getting into this industry and you don't like people, you're in the wrong business. It would be like becoming a teacher but you don't like children. It's a really bad idea and you're setting yourself up for failure. When you put focus on relationship over sales you are cultivating clients for life. When I get a call from a potential client who either wants to buy or sale a property, my number one goal of our initial meeting is to make a connection, it's not about the sale for me at all. I listen closely to what they tell me. When I take notes, I'm not only noting what they want in a house but what their names are, children's names are, if they mention a hobby or an upcoming event they'll be attending. I ask open-ended questions and then I listen, so I can learn all I can about them. If they told me they have two children but one is at home sick with a relative, the next time I talk to them I'll ask how their child is doing. It's not a racket, it's about being attentive to people and caring about what matters to them. I also follow their timeline, not mine. If they are in a hurry and need to get moved fast then I'll get on the fast track and discuss a strategy with them to ensure my idea works with them. I also communicate often with my clients. One of the number one complaints home buyers and sellers have with agents is a failure to communicate with them. Lastly, when I'm with a client I'm with them and don't allow for outside distractions. There's nothing worse than feeling like the person you're with doesn't want to be there or they are in a hurry. By the time I get to the closing table with most of my clients, we've become friends, they trust me and believe I did the best job I could for them. Being a relationship focused agent not only builds clients for life, it also adds to your quality of life, it instills a sense of purpose and will provide you with emotional satisfaction. 3. Successful agents treat people with dignity and respect Before I started teaching the pre licensure class new agents would tell me that the teachers would tell them if somebody is not pre-qualified, do not show them a house. To me that's really bad advice. First, just because someone isn't pre-qualified to buy a house doesn't mean they're not qualified to buy a house, and even if they aren't qualified it doesn't mean that one day, they won't be qualified. Nor does it mean that they don't have friends or family who aren't qualified. I'm not saying you should keep showing homes to someone who isn't qualified. What I'm saying is, treat people kindly. When a potential client calls and asks to see a house, just show them the house. Don't try and prequalify them over the phone. It comes across as disrespectful. Let's say you meet this person and come to find out they don't qualify, what have you lost out on by treating them respectfully? Do you want to be the person who they trash to all their friends, family and co-workers or do you want to be the agent they praise to their friends, family and co-workers? I had a gentleman call me several years ago and ask to see a house. I agreed and met him and we toured the house. As we were finishing up, he turned to me and said, “thank you”. I said for what? He said for showing me this how and for showing me respect. He told me he had called two other agents and both had asked him on the phone if he was pre-qualified to buy a house. When he told them no, they refused to show the house. He told me those agents made him feel low and it was really upsetting to him. He said he was kind of leery about calling any other agents, and so when I said that I would meet him without asking him anything about pre-qualification he immediately felt better about me than the others. I came to find out he didn't qualify for a house however I stuck with him, got him hooked up with a really good lender who was willing to work with him and about 18 months he closed on a home and let me tell you there is not another real estate agent in the world to this man. Not only that he has referred other to me. I am his real estate agent for the rest of his life. 4. Successful agents maintain professional integrity Lastly, successful agents maintain professional integrity. Be very cautious once you're starting to build a relationship with the clients that you continue to maintain your professional integrity. Not long ago I was in a store and someone who I knew but hadn't seen in a while stopped me and we began a conversation. He shared with me that he had his home listed with this agent and it was really causing him a lot of stress. He said his agent continuously drops the f-bomb and she talks about the other agents and her broker. He said he didn't use that language and her behavior made him feel very uncomfortable. Now you would think that people know that type of behavior is wrong, but apparently there are agents out there that don't know. Or maybe it's just so ingrained in their personality they don't realize they are doing it. Either way, it's bad business. Now I don't care where you come from or who you are, using foul language and talking poorly about other people is very unprofessional and should never happen. Set a high moral standard for yourself. Always take the High Road. Even if your client is using that type of language, or talking about others, telling off colored jokes; maintain professional integrity. Real Estate can be a very exciting, and rewarding career. I love it and the only regret I have today is that I didn't get into it when I was younger. However, if you're focusing on the money aspect, not putting your clients' needs first and believe your behavior won't affect your success, don't get too comfortable in this industry. If you want to stay in this business for a long time and be successful, focus on the long run. Surround yourself with positive influences, focus on relationships, treat people with dignity and respect and always maintain professional integrity. Do that and the longer you drive your business with this model, the more you're going to be looked upon by your clients as a guide or a coach or a liaison, someone who can be trusted and relied upon for all their real estate transactions. I want to thank you for listening to another episode of Market Talk Weekly. If you haven't done so already, please subscribe to this podcast so you won't miss another episode. What's My Home Worth?   |   Start Your Home Search

In today's episode, understanding foreclosures and short sale, I'm going to be discussing that nasty, horrible process that nobody likes to talk about, foreclosure. Nobody likes foreclosures, it's bad business for everyone involved. I'll also be discussing short sales. You may have heard the term short sale but may not understand exactly what it is. That's understandable given it's a complicated, lengthy process. I'll also discuss ways to avoid foreclosure and how a real estate agent can provide assistance for some of the situations I'll be discussing. Let's start with foreclosures. A foreclosure is simply a process that allows lenders to force an owner to turn over the property so the lender can sale the home and recover their investment. There are two instruments that allow lenders to do this, a mortgage and a deed of trust. Both are simple tools that place a lien on a borrowers property so that the lender can recover their investment in the event the borrower defaults. There are two types of foreclosures, Judicial and non-judicial. Judicial means the lender has to go to court to foreclose. Non-Judicial means no court. Most states have judicial foreclosures. However, Virginia which is where I live is one of the states that has non judicial foreclosures. First Contact If you have received a letter from your lender because you are behind in your payments, let me assure you of this, they do not want to foreclose. Lenders don't make money when they have to go through this process. It becomes more of a process of them just trying to limit their loss. The worst thing you could do if in this situation is to ignore the lender. Once the process has started it's not going to go away. So communicate your challenges with the lender. Lenders have a lot of options to help struggling home owners but ignoring them will only lead to foreclosure. Talk to your lender about a lender workout. Lender Workout A lender workout is when a lender and a borrower renegotiate the terms of an existing loan that is in default or in imminent danger of default. A lender workout is intended to help a borrower avoid foreclosure and can include loan modifications A loan modification is a permanent change in one or more of the terms of a borrower's loan, allowing the loan to be reinstated and resulting in a more affordable payment. Agents are not responsible for negotiating the loan modification. If you keeping the house isn't an option, ask about a deed in-lieu of foreclosure. Deed-in-Lieu of Foreclosure In some situations, rather than foreclosing on a borrower who is in distress, an investor/lender may allow the borrower to surrender the deed to the property voluntarily in exchange for a release of the note and mortgage. If the seller owes more money than the property is worth, is unable to make payments, and is likely to lose the property in foreclosure in the near future, offering to trade the property to the lender in exchange for the cancellation of the note might make sense. This approach is more likely to be successful in states with very long foreclosure timelines. The lender can obtain the property much sooner and may feel that the mitigation of loss is worth the cancellation of the note. Like workouts, this is a contract negotiation, and should be undertaken only after consulting with an attorney. this process is rare and difficult to accomplish. If there are multiple liens or judgments on the property, the deed-in-lieu of foreclosure will not be approved. Another option might be a short sale. A short sale is where a lender agrees to allow you to sell the home and will take less than you owe. This is the process where a real estate agent can help. If you are a real estate agent and have someone who wants your help with this process understand it's a lengthy process. If your motivation is merely to make a sale, this might not be right for you. You might be better off if you can consider this a situation where you are giving back ‘giving back', helping someone who is in need. That's not to say you won't get paid because if it goes through you will. However, when you calculate time on the job to commission it may not weigh out as you might expect. The Short Sale Process The first step in this process is to determine if there is an acceptable hardship. There are several worksheets you can utilize to determine this information. These include, a seller short sale checklist, pre-listing worksheet and hardship worksheet. These forms can be found on my website at markettalkweekly.com and choose the menu item for learning center and then choose Real Estate Agents Resources. These are free to use and download but you'll first have to register for an account to access the information. For the complete episode of Understanding Foreclosures and Short Sale, listen to the podcast. What's My Home Worth?   |   Start Your Home Search

Have you ever considered how to become a real estate agent? You may be surprised to learn that it's very common for people between the ages of 20 to 50 in the United States to have to have seriously considered becoming a real estate agent at one time. Today, we're going to discuss how to become a real estate agent. Each state has its own regulations for licensing real estate agents and brokers. Usually, you can find this information on your State's website. You'll also find licensing requirements and regulations for obtaining a license to sale real estate in your state. State Requirements What you'll find in most states is there is an educational requirement, a background check and an exam prior to submitting your application to the governing board. For the education requirement there will be a set number of hours and class content. Some states except college classes or may even accept life experience. I live in Virginia and we have a real estate board that falls under the Dept. of professional and occupational regulations. The website is DPOR.Virginia.Gov. Look for the link to real estate board. There you'll find all the requirements on how to become a real estate agent, or broker in Virginia. In Virginia all real estate agents are required to work under a broker as a general contractor and agents are paid a commission based upon your real estate sales. Each broker determines how much they will pay their agents along with any other fees such as desk fees. They also determine whether they will accept an agent who is only part time. Some brokerages offer a lot of great software applications however some charge a fee while others provide it as a benefit to their agents free of charge. Choosing the Right Broker It's always wise to interview at least 3 different brokers before settling on one. I believe there are two types of brokers, one who profits off their agents from fees they charge as well as commissions. The other is the broker who believes in limiting the number of fees to allow the agents to grow and be successful. There are a lot of people who become agents each year and a lot of people who bail out within the first two years. The first brokerage works to capitalize on these agents with fees. The second helps agents to be successful. Look for the brokerage that is going to offer the greatest amount of support and training. Above all, make sure the brokerage you choose is a good fit for you. Do you feel comfortable with the broker, what's your gut feeling say? Your choice of broker can make or break you. If you are getting your license in Virginia you don't have to choose a broker until after you pass your exam. However, other states may be different. Once you have your license, you'll be able to sale both commercial and residential real estate anywhere in your state. What About Fees? Let's talk a minute about fees. Most brokerages in the Unites States belong to a real estate association who also controls the Multiple Listing Service or MLS. This is basically the database where all the real estate for sale is stored. If the broker is a member of the Associations most likely, all agents will be required to join once you have your license too. In my area we are required to join the local, state and national association of realtors. This is a yearly fee that is paid up front. Usually, it's prorated based on the month you join. This could be anywhere from 300-1500  (or more) a year. You'll also have MLS fees every month which usually are too much. In my area it's $36 a month. We also have a $15/mo app fee to access the Bluetooth lockboxes. Your state may have other requirements such as Errors & Omissions insurance or liability insurance. Make sure you know the investment before going into this venture. The good news is one good sale can get all that investment back. Just a note about taking your pre-licensure class. There are a lot of schools that offer this course both online and in person. Make sure the school you choose is approved for your state. I was talking to a lady about coming on with my firm and she told me she was just about finished with her class. I asked who she was taking it through and when she told me I didn't recognize the school. So, I looked it up and they weren't approved by our state. She spent $500 and wasted a lot of time. I teach classes for Moseley-flint School of Real Estate and they are an approved school in my state as well as others on the east coast. Their website address is moseleyflint.com. The only regret I have about getting into real estate is that I didn't do it sooner. It's a lot of work and usually takes a little bit of time before you start rolling but it's worth the time and investment if you're willing to make the commitment, learn, and step out of your comfort zone. AND if you like helping people it can be a great life. Thanks for listening to, How to Become a Real Estate Agent. If you haven't subscribed to this podcast make sure you do it now so you won't miss any of the upcoming episodes. What's My Home Worth?   |   Start Your Home Search

Thanks for joining me for another episode of Market Talk Weekly; How to Calculate Sellers Net Proceeds. If you're a home seller and you're either getting ready to list your home or you're in the process of selling your home, and you don't know what you're going to walk away from the closing table with, this episode is for you. Also, If you're a real estate agent and you haven't calculated for your home sellers what their estimated proceeds will be when they walk away from the table, this episode is also for you today. When I'm representing a client in the sale of their house there are two very important jobs I have right out of the gate. First, I am going to tell them how much their house is worth in the current market and I'm going to tell them how much they are going to walk away from the closing table with based upon the sales price we've agreed upon. Neither of these numbers is a guess. For the listing price I am going to utilize a tool called comparative market analysis. For the amount of money they will walk away from the closing table with I use a tool called the seller's net proceeds worksheet. I can't represent my client effectively without either of these tools. Utilizing the sellers net proceeds tool Let me explain the sellers net proceed worksheet and how I utilize it not only before we list your house but throughout the sales process. This is a one-page worksheet. On the left are line items and on the right are blank spaces to fill in with dollar amounts. The goal is to list all the expenses you will incur at closing and subtract them from the sales price of the home and this will provide you with estimated net proceeds, or the amount of money you'll clear on the sale of your house. This doesn't include your homes mortgage so that's something you will have to figure out on your own. For the full episode, How to Calculate Sellers Net Proceeds, please listen to the podcast. What's My Home Worth?   |   Start Your Home Search

This episode is Market Update: are we headed for a recession? You could read a hundred different articles on this subject and get one hundred different opinions. As a real estate broker, I can tell you what I see happening in the market. SO I'll be sharing from my viewpoint. I've also got a clip for you from Fox Business news to share with you. What is a Recession? According to The Balance, A recession is a significant decline in economic activity, lasting more than a few months. There's a drop in the following five economic indicators: real gross domestic product, income, employment, manufacturing, and retail sales. The textbook definition of a recession was first suggested by Julius Shiskin, then-Commissioner of the Bureau of Labor Statistics, in 1974. He was a great deal more precise, though:5 Decline in real gross national product for two consecutive quarters A 1.5% decline in real GNP Decline in manufacturing over a six-month period A 1.5% decline in non-farm payroll employment A reduction in jobs in more than 75% of industries for six months or more A two-point rise in unemployment to a level of at least 6% What is a Recession? | Article accessed May 13, 2022 | https://www.thebalance.com/what-is-a-recession-3306019 What's My Home Worth? | Start Your Home Search

Thanks for joining me for another episode of Market Talk Weekly. In today's episode I'll be discussing the truth about fair housing. I'll touch on what it is, how it came about, and why fair housing should matter to everyone. Before I get into the logistics of this topic I want to share with you why I chose this topic. I was reading an article from Inman news which is a real estate news source. The article was titled, “Don't violate fair housing! 15 words to ban from property descriptions “and the subtitled was, “Describing a space in a way that appeals to all buyers isn't ‘politically correct,' it's the law (and it's just good business)” That's a good title and I certainly wouldn't want to violate fair housing laws so it drew me in. {Listen to Podcast for details regarding the article and what it said} So let me review for you exactly what the fair housing laws are . There are three primary fair housing laws The Civil Rights Act of 1866. This act prohibits the discrimination in dealings of real estate with regard to sales, leasing, purchasing, inheritance and conveyance of real and personal property. This is without exception. The Federal Fair Housing Act of 1968. This prohibits discrimination based on: Race Color Religion Sex National origin The 1988 Fair Housing Amendment Act. It increased penalties and added people who are disabled and family status to the protected class. Now there are some exceptions to these laws such as allowing for housing communities based on being a senior citizen. I won't be getting into all of this though. I just want to give you a brief overview. Now, if there are laws prohibiting discrimination in real estate dealings, it goes to reason there were and still are people discriminating. That's why it's important to know the truth about fair housing. {Listen to the podcast for the whole story} Get a free home valuation   | Start your home search here

What is Market Talk Weekly? A weekly show hosted by Bryon Roth, real estate broker, instructor and speaker. Each week Bryon dives into subjects such as market forecast, market trends and tips for home buyers, sellers and real estate agents. If you have a topic you would like Bryon to cover you can send requests to questions@mtweekly.com. And make sure you don't miss a single episode of Market Talk weekly by subscribing to the show. Free Home Valuation | Start your home search

People often get confused about tax assessment and a appraisal. So, what's the difference between assessment and appraisal? Is there a difference? How are they related? How do they effect the value of my home? Get the answers here.

Thanks for listening in on another episode of Market Talk Weekly. In today's episode I'll be sharing 5 simple ways to get your house ready to sell. As a homeowner you should see your house as an investment and when it's time to sell you want to get the greatest return possible in the least amount of time. Luckily, a little preparation goes a long way. When a homeowner hires me to sell their house one of the first things I do is a walk through pointing out improvements that could help increase the value and help the home sell faster. Depending on the house and its maintenance history or lack of, I might have a laundry list of ideas but there are always five items at the top of my list. 1 DE-CLUTTER After 10 or more years in a home you might not see clutter. People feel comfortable in their house and surround themselves with things that make them feel good. However, your goal is to sell your house and we need to help potential buyers see themselves in the house. You'll be moving eventually so picture this as the first step in packing your belongings. Get some boxes and remove all your knick knacks, items on shelves, items on end tables, night stands and bedside table, extra plants, and personal photos.  If a room has a lot of furniture, remove some of it to help better show the potential of the room? Kitchen and bathrooms are areas that can make or break a sale. So make sure you get them down to the bare minimum.  Again, the idea is that people see the house and not your personal items. 2. PAINT A fresh coat of paint throughout the house can do wonders for the appearance. Stick with neutral colors and make sure if you're covering up bright colors that you completely cover the old color. When you paint a room, make sure the trim should be a different color. Try and stick with white for trim. If you wanted to paint the walls white use an off white for the walls and white for the trim. Paint can also help mute loud carpet in an outdated room giving it a contemporary feel. Checkout color charts and design websites to identify colors that will complement the color of rugs. 3. DEEP CLEAN If you couldn't do anything else I would say this would be the one item that's essential. I've had clients who loved a home until they saw a dirty tub. Some areas people often miss when cleaning is baseboards, ceiling fans, vent covers, behind the toilet, under cabinets, light globs, window ceils and door thresholds. If the home smells like pets you may need to shampoo carpets and if it smells like smoke call in a professional who specializes in removing the small from houses. After cleaning everything bring a friend over who doesn't smoke to get their opinion. People get use to the smell of their own house and can't smell pet and other odors. 4. LANDSCAPING Fresh mulch helps even the worse yards look better. Mulch in flower beds, around trees, decks and sheds. Make sure the yard stays mowed. Use a weed eater to help give it a manicured look. If you have bare flowerbeds or overrun with weeds it's time to put on gloves and clear out those beds. Add some perennials to the flower beds that don't require a lot of maintenance and will return year after year. Nice hanging and potted plants outside add a nice touch to the curb appeal. Don't add too much, just enough to add appeal. 5. DE-CLUTTER AND CLEAN OUTSIDE If your house has vinyl siding and you haven't power washed it in a few years you should do so now. Be careful not to get too close or the siding will break or crack. While your power washing also take care of the trim, porches, sidewalks, and deck. If you have more than one or two yard ornaments they need to be removed. Any broken down cars should be hauled away as well as any debris. Extra cars should be parked elsewhere during showings so people can see the parking space. Old, dirty or b

Thanks for listening in to another episode of Market Talk Weekly. Today we'll discuss selling a house as-is. If you're getting ready to sell your home as-is, this episode is for you. There are some pitfall to selling as-is to consider that could deflate the value of your home. Transcript from episode: Hey, we're going to kick off the show with a discussion about selling your home as-is. If you've been paying attention to the market and watching the listings that come out you've noticed a lot of people listing homes as is. It's not because the homes are trash or they got a bunch of stuff wrong with them, It's just because they can. It's a sellers' market and some people think, hey, I'm going to sell my home, and bring in the highest profit. I'm not going to waste any money by doing any repairs because I've got the product that everyone wants. It's something that you're going to see ongoing probably for a little while. But I want to talk about the pitfalls behind selling your house as-is and how it could actually hurt not only the sale but the value of your house. Find out what your house is worth with a free valuation. Find your new home here