Tuesday, October 23, 2012

Confidence is the Result of Practice in Real Estate


By Justin Thorn


If there are ten hungry Tigers going after the same Antelope, only one will get the prize, and the other nine will starve. Real Estate Agents are a lot like those Tigers. Not everyone can have every listing, so the trick becomes finding ways to boost your real estate business, and gain the edge over your competition. This might be easier said than done   Unlike Tigers, the vast majority of us don’t have sharp teeth, natural camouflage or the instinctual drive to stalk and kill… (which is undoubtedly a good thing). However, we do have an extensive array of tools that we can use to gain that upper hand, and in turn, increase business. One of those tools is Confidence. Being sure of who you are, what you represent, and what you’re talking about is going to give potential clients an increased desire to take in what you have to say, and ultimately list their home with you.



I was inducted into the world of door-to-door salesmanship, for a small subsidiary of Comcast Xfinity by a close friend. The first couple weeks, the only money I made, was when my friend would shell out commissions to keep me interested. I was a TERRIBLE salesman. I had doors slammed in my face, I didn’t know what I was saying half the time, and if they said they would think about it, I would say ‘okay’ and leave. It was only when we started having mandatory training meetings in our office, and making us act out what we were going to do, did I start to make sales on my own. I gained the necessary confidence needed to be a salesman, because I already knew what I was going to do. I didn’t have to worry about what I was going to say, because it came naturally. I started to sell more and more, and I had less and less rejections. People wanted to listen to me because I was confident.



Confidence is a product of Role-Play. Role-play gives you a chance to practice everything that you would do or say to a potential client, without the harsh reality of knowing you’re bringin’ home the bacon. In my opinion, role-play is one of the greatest ways to become proficient at something. Role-play allows you two things: Firstly, you have the opportunity to practice what you would do or say to a client, until you have honed your skills and are confident in what you’re all about. Secondly, on the flip side, you have a wonderful opportunity to be the client. This gives you an altered perspective on the process of buying or selling a home, and it may cause you to change the process in which you present yourself when prospecting real estate leads.



Role-play works best if you practice with another real estate agent who you feel comfortable to mess up and experiment with different prospecting techniques. If you practice nervous, you will present nervously. This could be a spouse, a friend, but ideally another real estate agent (two birds with one stone). Practice scripts, your demeanor, how you treat your clients, and your overall ‘method’ of obtaining a listing. Leave no stone unturned, you never know what aspect of your presentation will catch a ‘prospective’ client’s eye and make you more favorable as their ‘prospective’ Agent.





Justin Thorn is a music man. He plays more than 8 instruments including: the piano, banjo, accordion, guitar, cello, violin, and viola. He is passionate about sharing his love of music with other and teaches orchestra for 11 year olds. The REDX family loves Justin for his contagious positive attitude. Our client’s love Justin because he is an awesome instructor and has a knack for teaching the REDX like no one else.


Wednesday, October 3, 2012

New Short Sale Guidelines for Fannie Mae & Freddie Mac

Starting November 1, Fannie Mae and Freddie Mac are playing by new rules: a new set of guidelines to stimulate short sales by streamlining the process, opening doors to let homeowners out of underwater mortgages.




Short sales have become a popular tool of foreclosure prevention, with Fannie Mae completing over 70,000 short sales last year, and nearly 40,000 in the first half of 2012. For a homeowner experiencing negative equity—the current value of the home is less than the mortgage balance due—a short sale is often the best choice to retain as much credit as possible.



The basics of the new Fannie and Freddie short sale guidelines are as follows:



■Homeowners with certain hardships can be eligible without being in default. Those hardships include death of a borrower or co-borrower, divorce or legal separation, illness or disability or a distant employment transfer.

■Reduction in documentation required.

■Limit of $6,000 to subordinate lien-holders (this is supposed to prevent subordinate lien-holders from scuttling the deal while they try to negotiate a higher payoff).

■Eligibility for military families who get Permanent Change of Station orders.

Note, these new short sale guidelines apply to Fannie Mae and Freddie Mac loans. To find out if your loan is owned by Fannie Mae or Freddie Mac, visit either www.fanniemae.com/loanlookup or www.freddiemac.com/corporate