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Expand Your Business and Horizons!


Cultivating Multicultural Relationships is Good for Business

REALTORS® know the importance of adapting and remaining relevant in today’s marketplace. By developing a business practice rooted in inclusion and equality, you can help buyers of all cultural backgrounds achieve the dream of homeownership.

This two-day At Home With Diversity® (AHWD) certification course teaches you how to work effectively with diverse populations so you can build business success in today’s multicultural real estate market.

2 MA CE Credits Offer: Fair Housing (RE19RC12)

Instructor: Leigh York, 2018 REALTOR of the Year, Greater Fort Worth Association of REALTORS® Texas Real Estate Broker, ABR, GRI, CRS, SRS, TAHS, RSPS, SFR, AHWD,NHS, SRES, MRP, CUE, RFC, RENE
Leigh is a third-generation real estate licensee who has managed staff and hundreds of agents. She now sells real estate and speaks nationally along with some broker and culture coaching. She wants your business to succeed and is excited to share some of her ‘lessons learned’ with you!

Pricing: $45.00*

Register Here!

Earn Your At Home With Diversity Certification!
Article Courtesy of: Inman News 
By: Brandon Dolye

Thriving in a shifting market is all about making adjustments. Here's how one Utah-based real estate group doubled production by adopting gamification — yes, in the midst of this pandemic.
 
The pandemic has been tough on all of us. Some of us couldn’t even show homes. All of us made adjustments. But not everyone took a production hit. Some teams are still on track with their original goals. Others are actually doing better this year compared to last year.
 
I love the saying that’s become common in a lot of Facebook groups I follow: “Yea, there was a 50 percent reduction in transactions during the pandemic — but there was also an 80 percent reduction in competition!”

Surviving the pandemic was about adjustments, but thriving in the pandemic? Is that even possible? 

I saw a lot of cool things from teams in my network, and a lot of lessons to be learned for when markets shift, and times become uncertain. One of the coolest was from a team just north of Salt Lake City that actually doubled its production in the midst of massive uncertainty. (I have the numbers to prove it!)

How Utah Life doubled their production during the pandemic

Before we dig into the numbers, here’s what you need to know about Utah Life Real Estate Group. They have 20 total team members — around 14 full-time agents, a couple part-timers and a handful of administrative staff.

They run a full team model and provide coaching, systems and accountability for all of their agents. A lot of their coaching is around mindset.

Also, they are extremely driven by numbers, goals, and achievement. They are the team around which the idea and concept of Sisu was born. A lot of the screenshots showing their numbers and production are taken from their Sisu dashboards. 
Utah Life has some very cool graphs, which make it super simple to see just how much they crushed it during March and April. 

Take a look at this chart of their signed units. This is impressive, especially considering that they lost one of their top producers in November of 2019.



This is a chart of their under-contract units. Compared to same months in 2019 and 2018, their under-contract units increased in April and March of 2020.


Use of gamification to drive real estate sales

Gamification has become popular in sales because you can tweak the system to produce the exact results you’re looking for.

A lot of other industries rely heavily on their compensation plans and promotion paths to do this — a careful concoction of payments, promotions, recognition and accelerators that align incentives across a sales team and make things work. 

This, of course, happens in real estate as well, but to a lesser extent. Almost all of our teams and brokerages are 100 percent commission-based contractors. It’s harder to create a culture where incentives are aligned, but here’s where gamification comes in. Gamification can help you align incentives, tighten your culture and drive key metrics that you know will create results. 

In this case study, Utah Life focused heavily on a few different leading indicators such as conversations and appointments set. See the huge spike in conversations on their graph above, which pretty much fueled everything. I believe the point system was as follows: 
Conversations: 10 points each.
Appointments: 100 points each.
Client placed under contract: 500 points.
Daily exercise: additional 30-point bonus.

Where this system breaks

You’ll want your most OCD team member running your gamification. That person who’s got your CRM system dialed in to the last one and zero? That’s exactly who should run a system like this. 
They’ll love it, too, because this is the type of thing that actually drives adoption with all of your systems. Didn’t happen in the CRM? It didn’t happen at all. Here’s where teams go wrong: 

You rely on your agents to enter 100 percent of the data. For obvious reasons, there won’t be a lot of enthusiasm around this. Tie it to your CRM so that your agents can stick to their current processes.
You don’t have a live scoreboard. Can you imagine going to a basketball game without a live scoreboard? There would be no drama. No excitement. And a lot less competition pushing everyone to do their best. If you can, get a 24/7 live scoreboard. This alone should create a 30-percent boost in production.
See this case study with Glassdoor sales team on page 125. They increased their booked meetings by more than 50 percent while going from little to 100 percent CRM adoption. Not real estate sales, but similar concepts apply. Make it fun, visible and fair. 

The competition doesn’t have to be inside your team only

One thing that I thought was really cool about the contest was that the competition was not only internal. Too much internal competition can be unhealthy. There’s a fine balance.

But you probably know other real estate teams that are around your size and level. You network with them on Facebook, or maybe they compete in another market that’s not super close to you. 

Creating competition with other teams can be an extremely fun and healthy way to drive results. You can put up a prize (for example, $500 to the top agent) but set stipulations that the losing team has to front the prize money. Have fun with it!

The exact specifications of one of the contests Utah Life ran during the pandemic was the Utah Life versus Bowen Adams Real Estate contest. You can also see their joint scoreboard in Sisu below.
Top agent got $1000, second place $500 and third place $250.
The contest ran for 10 days from April 20 to April 30.
Agents earned 500 points for units placed under contract.
Agents earned 300 points for signing a listing.
Agents earned 200 points for signing a buyer.
100 points for each attended appointment (buyer or seller).
5 points for each prospecting conversation.

On my team, personally, we’ve done monthly and quarterly competitions for things like most open houses, five-star reviews, showings, appointments or even just days of activity logged.

We set it up so anyone would have the opportunity to win something — not just the top producers. Prizes have included gift cards and team swag members could pick from. 

We’ve also done group goals where anyone who meets the goal is invited to lunch or happy hour and other team-wide goals that included a team outing for everyone. Before the pandemic shut us down, we were planning on doing “top golf”!

The three steps to making gamification happen


To sum things up, I think Utah Life’s success during this period boils down to a handful of key elements: 

1. They met daily on Zoom to go over numbers, offer quick training and keep the motivation high.
2. Their leaderboard was highly visible 24/7 via web and mobile apps. 
3. The contest was clearly defined and the numbers were simple to track — often, 100 percent automated from the CRM. 

I see a lot of team leaders and brokers pushing gamification, but this one was an eye-opener as to just how effective this strategy can be. 

Brandon Doyle is a Realtor at Doyle Real Estate Team — Re/Max Results in Minneapolis and co-author of Mindset, Methods & Metrics – Winning as a Modern Real Estate Agent. You can follow him on Twitter.

 

Use Gamification to Boost Agent Production
Article Courtesy of: Banker & Tradesman

The Federal Housing Administration and the Federal Housing Finance Agency have extended their COVID-19 foreclosure and eviction moratoriums for the second time, this time for two months.

The FHA’s measures will expire Aug. 31. A first extension issued mid-May would have expired June 30. The measures cover homeowners with FHA-insured Title II single family mortgages and including reverse mortgages.

In its announcement, the FHA encouraged mortgage servicers to: halt all new foreclosure actions and suspend all foreclosure actions currently in process, excluding legally vacant or abandoned properties, and cease all evictions from FHA-insured single family properties, excluding actions to evict occupants of legally vacant or abandoned properties.

“While the economic recovery is already underway, many American families still need more time and assistance to regain their financial footing,” HUD Secretary Ben Carson said in a statement. “Our foreclosure and eviction extension means that these families will not have to worry about losing their home as they work to recover from the financial impacts of COVID-19.”

Homeowners with FHA-insured mortgages should continue to make their mortgage payments during the foreclosure and eviction moratorium if they are able to do so, HUD said, or seek mortgage payment forbearance from their mortgage servicer under the terms of the CARES Act , if needed.

Under that legislation, mortgage servicers are required to:
Offer borrowers with FHA-insured mortgages up to a year of delayed mortgage payment forbearance when the borrower requests it. FHA does not require a lump sum payment at the end of the forbearance period.
Assess borrowers who receive COVID-19 forbearance for its special COVID-19 National Emergency Standalone Partial Claim before the end of the forbearance period. The COVID-19 National Emergency Standalone Partial Claim puts all deferred mortgage payment amounts owed into a junior lien which is only repaid when the borrower sells the home, refinances the mortgage, or the mortgage is otherwise extinguished.

The FHFA also extended its single-family moratorium on foreclosures and evictions until at least Aug. 31. The foreclosure moratorium applies only to single-family mortgages backed by Fannie Mae and Freddie Mac. The current moratorium was set to expire on June 30.

“To protect borrowers and renters during the pandemic we are extending the Enterprises’ foreclosure and eviction moratorium,” FHFA Director Mark Calabria said in a statement. “During this national health emergency no one should worry about losing their home.”
FHA and FHFA Extend Foreclosure and Eviction Moratorium
Article Courtesy of: Inman News
By: Jay Thompson

Now is the time to give your web presence a second look. Follow these steps to create a profile potential buyers will gravitate toward

Your real estate agent profiles — those pages scattered about the internet that invariably include your photo, an “about me” section, and maybe areas to display your listings and past sales — are often the first places potential buyers or sellers will find you as they begin the process of deciding which agent to hire.

Given that reality, real estate agent profiles should be crafted with care and consideration. After all, you’re marketing yourself, so you want to put your best foot forward anywhere you have the opportunity to connect with a potential client.
Yet the web is filled with — let’s be honest — some pretty bad profile pages. You know the type: fuzzy images, outdated copy, sales speak. The list of grievances is almost endless.

Why are some profiles disasters while others are marketing masterpieces?

I don’t know. Maybe some real estate agents aren’t sure why profiles matter or don’t understand how to make them consumer-friendly. Crafting a good one probably seems overwhelming. Often, people quickly build a profile page and never look at it again.
Whatever the reasons for subpar online profiles, now is the time to give your web presence a second look. Start pulling up your profile pages, and ask yourself a few questions:

Let’s take a closer look at each of these focal points.

Pick the right photo

Have you ever seen marketing material from a real estate agent and said to yourself, “Wow, I wonder how old that picture is?”

You know you have.

Don’t be the person in that photo! You don’t need to update your headshot every six months, but if you’re using an image that looks more like your high school yearbook photo than something taken in the past couple of years, it’s time to make a change. “Glamour Shots” were a thing — 30 years ago. Today, not so much.

Avoid the “headshots” that are simply logos. People want to connect with you, not a logo. Ditto with your dog, your cell phone, a “Just sold!” rider or any other prop. Get a professional headshot, cropped so your smiling face is the focus of the photo. Don’t clutter it up with stuff that doesn’t matter. Just you and your face.

Clarify your education credentials

Think back again to real estate profile pages you’ve seen. Does this look familiar?

Jay Thompson — MBA, ePro, ABR, CRS, CRE, CIPS, GRI, CPM, SRS

Impressive?

Not really. Don’t get me wrong, education is important — crucial, even. But how many consumers — you know, the folks looking at your profile and deciding whether or not to hire you — know what any of those abbreviations after your name mean?

The answer to that rapidly approaches zero.

So, spell it out, but not just by saying, “I am an accredited buyer’s representative!” That still doesn’t mean much. Try something like this:

“I believe in continuing education. It helps me to be a better agent for you. I’ve spent 200 hours in the past two years training, learning and refining my craft — so that I can better serve you.”
If you really want to get into the details of your credentials, consider linking to pages that explain what you learned in those designation classes.

Define your USP

Your USP — unique selling proposition — is what sets you apart in the sea of sameness. Odds are pretty good that there are a lot of real estate agents in your market, all competing for limited buyers and sellers. What makes you different from all of them?

It is not an easy thing to define, but a good USP, if it’s communicated well, will really help a consumer understand what you can do for them. And remember, it’s all about them, not you.

Here is a good article on building a USP. Give it a run-through (be sure to watch the video, too), and get that brain thinking about what makes you stand out from the pack.

Watch the agent-speak

“I closed 43 sides last year — I can sell your home too!”

As real estate sales professionals, we know exactly what that sentence means. But what about that potential homebuyer? The guy who hasn’t bought real estate since he grabbed a cheap condo nine years ago sees “sides” and thinks “baked potato or fries?”

It’s very easy to include words and terms that you see and use every day. Take a step back, and look at your real estate agent profile from the perspective of a consumer. Spell out abbreviations. Define industry-specific terms — or better yet, just avoid them.

Don’t force potential customers to try and translate your agent-speak into terms they understand. The simple fact is they won’t translate; they will move on to the next profile.

Stop the hard sell

Your real estate profile is your biography. It’s a place for someone to learn about you, how you work, and what you can do for them. Although you use it to market yourself, it’s not an overt advertisement. Hard selling on your profile might cast you as “one of those agents” who seems to only care about their next commission check.

I’ll say it again: It’s about them, not you. Your profile is a place for potential clients to get to know you. Real estate is still a very personal, face-to-face business, and your profile may well be your first chance to impress. Don’t make that impression be of a pushy salesperson.

Make it reflect the professional, helpful and caring real estate agent that you are.

Profiles are important. They are often the first thing your potential clients will see, and first impressions count. Many people will use profiles almost exclusively to determine which agent to reach out to. I did, and I am far from alone.

You should have an optimized profile on every available site. Zillow (your Zillow profile is automatically ported to Trulia), realtor.com, your brokerage website, your website, Google My Business. Check your MLS and local association, they might offer profiles pages, especially if they have a public-facing website.

If you’re in Texas, the Houston Association of Realtors provides profile pages for any agent in Texas. See if your chamber of commerce offers a business directory.

Most sites charge nothing to build a profile. Some, like a local chamber, might require you to be a member before you can build a profile. The time you spend building — and updating — profiles is time well-spent, and the return can be significant.

Jay Thompson is a real estate veteran and retiree in Seattle, as well as the one spinning the wheels at Now Pondering. Follow him on Facebook, Instagram and Twitter. He holds an active Arizona broker’s license with eXp Realty. “Retired but not dead,” Jay speaks around the world on many things real estate.
Your Profiles Matter! Take Time to Perfect Them
GBREB NEWS

Newton Centre Realty, Inc v David Jaffe

Newton Center Realty, Inc. V David Jaffe
Massachusetts Appeals Court
No. 19-P-1082
Argued 3/3/20-Decided 6/23/20

On June 23, 2020 the Massachusetts Appeals Court decided a case of first impression in the Commonwealth regarding brokerage fees.  The question addressed was does the death of a seller terminate a real estate brokerage agreement between the seller and a broker.

Facts: 
In 2017 a seller entered into three exclusive brokerage agreement to sell two residential properties in Brookline and one in Newton.  The agreements were on standard GBREB forms.  Under each agreement the broker was entitled to a four percent commission.  The seller died and the seller’s son sold the properties independent of the broker, but within the exclusivity period of the agreements that had been properly executed.  The broker sued the Sellers estate and was unsuccessful at trial.  The case was brought up on appeal. This issue had not been decided under Massachusetts law.  

Decision: 
The agreements here created a principal-agent relationship that entitled the broker to a commission if Shirley’s (the Seller) properties were sold within the exclusivity period.  They did not confer an interest in the property.  Accordingly, Shirley’s death terminated the agency relationship, and the broker was not entitled to recover contract damages from Shirley’s estate.  The Superior Court judge properly dismissed the complaint for failure to state a claim. 
The Appeals Court upheld the lower court ruling that the death of the seller terminated the agency relationship, and the broker was not entitled to a commission.
 



Broker Fee Appeals Court Decision
REALTOR® DAY ON THE HILL GOES VIRTUAL! 

If you have never attended REALTOR® Day on the Hill then here’s your chance to participate in the comfort of your own home without going into Boston. REALTOR® Day on Beacon Hill is YOUR chance to let legislators know your opinions and concerns facing the real estate industry. Learn about the key legislative issues in 2020 that will affect the real estate industry and private property rights. Attend REALTOR® Day on Beacon Hill to get up close and personal with legislators and make an impact on the legislative process! 

2020 Legislative Priorities Talking Points

 
We encourage you to register and attend one or more of our upcoming meetings with state legislators from GBAR’s local regions:
All virtual events begin at 10:00 a.m.
 
 DATE             REGION
Wed., July 8    Metro Boston  
Mon., July 13    Central Middlesex
Thurs. July 16   Eastern Middlesex
Mon., July 20    Metro West
Mon., July 27  Southern Norfolk  
Find your region by town via the map below!

GBAR Regional Map

Click here to register!


Questions? Contact Jeff Pappas at 617-224-9303 or jpappas@gbreb.com
REALTOR® Day on the Hill Goes Virtual
 

Education & Events

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GBREB Leadership Conversation With Mayor Walsh
Jul 15, 2020
Free Webinar
GBAR Spirit Award Presentation Webinar
Aug 03, 2020
Live Webinar
GBAR Good Neighbor Award & Housing Grants Presentation
Aug 04, 2020
Live Webinar
GBAR Affiliate Of The Year Award Presentation
Aug 05, 2020
Live Webinar Event
GBAR Andrew F. Hickey DSA & Life Member Awards
Aug 06, 2020
Live Webinar Event
REALTOR® Of The Year Award Presentation
Aug 07, 2020
Live Webinar Event
CE Webinar: Architecture
Aug 10, 2020
Webinar
Brunch & Learn: Selling The Sun (Live Webinar)
Aug 11, 2020
Live Webinar Course
At Home With Diversity Certification Course- Live Webinar
Aug 12, 2020 - Aug 13, 2020
Live Webinar Course
 

Calendar

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GBREB Leadership Conversation With Mayor Walsh
Free Webinar
3:00pm
 
GBAR Spirit Award Presentation Webinar
Live Webinar
10:00am
 
GBAR Good Neighbor Award & Housing Grants Presentation
Live Webinar
10:00am
 

GBAR IN THE NEWS

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