Showing posts with label real estate. Show all posts
Showing posts with label real estate. Show all posts

Monday, January 28, 2019

Want a Referral Explosion?



Make it easy for people to give you business

We all want referrals, but they often don’t come without effort.  Asking for referrals is not always comfortable – even when they know you’ve done a great job for them.  So…don’t ask them.  Here’s a 5 step plan about how to do it.
1.       List all current sources of referrals -  The easiest way to do this is to list al the business that you’ve received over the past few years.  New to the business?  List all the people that love you – family and friends. 
2.       Create a system for follow-up after referrals – when you receive a referral, you need to follow up and thank them every time.  If you don’t, there’s a good chance that you won’t receive any referrals in the future.  A hand-written note or a phone call is usually the best way to connect with them.  Email, not so much.
a.       It should be noted that anyone that has provided you with a positive review is someone that has given you a referral.  It’s not to a specific person, but this is a positive endorsement that has momentum that you can capitalize on.  Heap praise on them.
3.        Maintain top-of-mind awareness - Reaching out to referrers need to be contacted regularly to ensure that they don’t put you on the back burner.
4.       Plant ‘referral seeds’ during every connection – always remind your referrers that you would love to help any other important people in their lives.
5.       Automate the process for getting referrals – the best way to maintain momentum and top-of-mind awareness is to automate – not email, but systematize your outreach process.  Put a reminder for yourself on an electronic calendar for each contact. 
Asking for referrals directly can be uncomfortable for referees too.  By following this simple system, you’ll start getting referrals without asking for them! 
Want to hear an amazing podcast about getting referrals?  Pat Hiban’s website has a great interview with Stacey Brown Randall – CLICK HERE.

Wednesday, January 23, 2019

I Want to Be a Rockstar!


Pat Hiban has an excellent series of FREE podcasts to help you become a real estate Rockstar!   To get the podcasts, CLICK HERE.  There are some very good marketing ideas here.  


The Easterbrook Team
916.850.6050

You’re Awesome, But Are You Relevant?



You could be the best real estate agent in town, but if nobody knows about you, the phone won’t ring.  To communicate with existing and potential clients, you need to put yourself in a position to connect with them.  In 2019, you will need to adopt social media to grow your business.  Our friends at Cave have a video to help you get started – CLICK HERE.

The Easterbrook Team
916.850.6050

Tuesday, January 15, 2019

Will home prices rise or drop in 2019? Here’s the scoop from Sacramento housing experts



After seven years of price increases, Sacramento’s housing market hit a plateau in 2018.
Prices flattened in the second half of the year. The number of homes on the market decreased. Those that were on the market took longer to sell.
With a very uncertain 2019 home-buying season looming, we’ve asked five local real estate experts to offer their forecasts: What are we in for this year?

Our team: Dean Wehrli is an analyst for John Burns Real Estate Consulting. Erin Stumpf is a Realtor with Coldwell Banker. Greg Paquin heads The Gregory Group, a real estate research and data firm. Pat Shea is president of Lyon Real Estate. And Ryan Lundquist is an appraiser and author of the Sacramento Appraisal Blog.


What’s your 2019 forecast?


Stumpf: I believe Sacramento will see a slight increase in home prices in 2019. I foresee a balanced market between buyers and sellers, and that is great news as far as I am concerned. The number of homes available on the market will be slightly higher than in past years, and homes will take slightly longer to sell on average. Appealing homes that are appropriately priced ... will still see competitive multiple offers and sell quickly.
Wehrli: Home prices are likely to be pretty stable, rising modestly by year end. I expect a decent spring selling season, particularly if mortgage rates remain lower as they have been very recently. Inventory is likely to rise a bit, but, remember, we are coming from a few years now of extraordinarily low levels of inventory.
Shea: Look for a very predictable sales pattern once again in 2019. One can expect (house price) appreciation to (be in) the 4 percent to 6 percent range. Continued job growth and upward pressure on employee compensation appear to remain in play for the foreseeable future in Northern California. Mortgage rates remain incredibly favorable.
Lundquist: If buyers put their foot back on the gas pedal, with mortgages rates going down now, there is room in the market to see values increase. It all boils down right now to what buyers are going to do. It’s a blank canvas.
Paquin: We are optimistic for sales and pricing in 2019. There is a real possibility that sales will equal and perhaps exceed 2018 numbers. (Newly constructed homes) should see a modest increase of between 2 percent and 3.5 percent.

Millennials Prefer “Influencers” over Agents



A majority of millennials rely on “influencers” to make purchasing decisions – 80% of which said that they would want their real estate agent to be one as well. This shocking fact comes from a study by  Engel and Volkers.  The study also cited that 98% (THAT’s HUGE) rely on social media and/or a review-based website for choosing service providers.  This means that even if you are referred by a family member, you are also going to be vetted on the web. 

Wednesday, January 9, 2019

2019 is About Simplifying



These apps are designed to simplify and make your life more enjoyable.  Check them out and let us know what you think:
·        Unstuck: In-the-moment problem solving
·        Headout: Recommendations for a day or night out
·        Habit Tracker: To-do list and goals reminder
·        Clarity Money: Track and monitor your finances
·        Handy: Connects you with cleaning or repair services
·        Acorns: Easy investments
·        Headspace: Meditation prompts

The #1 Home Accessory for 2019?



You saw our YouTube a couple weeks ago about “porch pirates”, so it’s no surprise that new data suggests that 2019 could be a boom year for smart video doorbells as Americans increasingly adopt home automation technology.
The data, from market research firm Parks Associates, indicates that 25 percent of U.S. households with broadband plan to buy a smart video doorbell this year. Currently only 8% of households have a smart video doorbell.
Smart doorbell models vary from company to company, but typically include a bell as well as a camera that allows homeowners to see who has come to visit. Popular models allow homeowners to access the video feed on their phones, and many integrate into other smart home technology. They have been marketed as providing both convenience and safety.
Last year, Amazon made headlines after acquiring smart doorbell maker Ring in a deal estimated to be worth more than $1 billion.
However, adoption of smart home technology does face challenges. Ring, for example, has raised concerns about privacy as it developed social networking features.




Friday, January 4, 2019

Resolution, Shmesolution



This weekend will be one of introspection for many of us in the real estate and loan business.  While still in the dawn twilight of 2019, we still have a little time to plan before being shot out of a cannon during peak buying season.  On the Easterbrook Team, we know how hard most of you work and we’ve been watching how you work.  Whether you’ve made your 2019 business plan or are still collecting your thoughts, we thought we’d share a few observations that we’ve made from our top agents.
1.    Start Early – This doesn’t necessarily mean rush out the door at 6am to sit at your office desk (or maybe it does – that’s up to you), but rather take the quiet hours before the day starts to go to the gym, have coffee, or do whatever it is that allows you to plan your day out your way, instead of having your day run you.
2.    Be a Social Media Star – on the Easterbrook Team, we have content for you and we can help you up your game by sharing or, heck, copying our daily posts about our industry – check out and  like our Facebook page (CLICK HERE).  Be the area expert and let your knowledge shine.
3.    Get Out More - Join a club, volunteer and become more active in the community. This is the best way to meet more people who could need the real estate services you provide.
4.    The Phone is Your Friend – while email is great, the phone has a much higher and effective connection rate.  Pick up the phone and call all the people you did business with in 2018 and wish them Happy New Year– it’s a great start.
5.    Want to Reinvent Yourself? – If you absolutely must reinvent yourself, master marketer Seth Godin has a 7 step plan for you (CLICK HERE). 
On the Easterbrook Team, we want to be a part of your success.  We want to help you do more of what you are already doing.  Your resolutions don’t necessarily need to be revolutionary, just a positive commitment to be the best you can be. Good luck – we’re here to support you right by your side.
The Easterbrook Team – We Make the Loan Process Easy

Wednesday, December 19, 2018

3 Trends in Real Estate Market




A new report by RE/MAX sampled MLS data from 53 metropolitan areas in the US and found that the number of home for sale in November declined 6.9% from October.  The report shows that inventory has declined over the last 4 consecutive months.  The report also compares the first 11 months of 2017 to 2018, showing home prices have risen 6%.
3 trends are emerging in the current market:
1.    Buyers are grappling with affordability issues and tight inventory.  Interest rates are expected to increase, edging some out of the market (we have solutions – CALL US).
2.    Sellers are unsure how to react with the prospect of a cooling market fueled by rising rates and over-heated home prices.
3.    Listings that are priced properly are still selling quickly.
History tells us that we cannot sustain rising home prices, lowering inventory, and rising interest rates – look for new trends to develop soon. All three trends underscore the importance of a professional real estate agent that can navigate an ever-changing market.


The Easterbrook Team "Makes the Loan Process Easy!"

Porch Pirates Foiled by NASA Engineer




We’re all in the housing business.  There is a current phenomenon affecting people that have packages delivered to their front doors.  YouTube sensation, Mark Rober, a NASA engineer that helped put the rover on Mars, was plagued by “porch pirates” stealing packages off his front door.  Here’s how he got his revenge – this is classic! CLICK HERE



The Easterbrook Team is Your Local Lender!

Tuesday, December 4, 2018

Market Now for a Strong Spring Tomorrow!


What You Do Today Will Echo 4 Months from Now

On the Easterbrook Team, we firmly believe that “getting the word out” is critical to any business.  Timing, however, is also critical to nail your sales goals.   For inspiration, we turn to our friends at Forbes Magazine:
Here are 11 more current marketing ideas for real estate agents – CLICK HERE.
On the Easterbrook Team, we would love to partner in your success.  We have many resources for you, including a marketing team to provide custom marketing pieces.

Office Christmas Party!


Statistics show that 1 in 3 people will do something that they will regret at an office Christmas Party.  The average attendee will hear 7 pieces of gossip throughout the evening – CLICK HERE for Article

Tuesday, November 27, 2018

Women are Snatching Them Up in Record Numbers!


They say statistics don’t lie.  The stats are in:  

·         More single women buy homes than single men.  According to the NAR 2018 Home Buyer and Seller Generational Trends, 18% of recent home buyers were single females while only 7% were single males.
o   Women are entering marriage later in life – age 27 now, compared to 21.5 years in 1940.
o   In 1940, only 3.8% of women graduated college, compared to 30.2% now with a bachelor’s degree or higher.
o   Women professionals are on the rise – civil engineers increased by 977%, pharmacists by 434%, surgeons by 334%, and lawyers and judges by 681%.
o   According to the CSA retail site, women are quite influential. Women influence 91% of all home sales. The influence 85% of all purchases.
·         From Panel Study of Income Dynamics, having wealthy parents increases a young adult’s likelihood of owning a home by 8 percentage points. The study also found that a 10% increase in parental wealth increases a young adult’s likelihood of owning a home by 0.15 to 0.20%. If two sets of parents are identical in everything else, but wealth, and one set has $260K in wealth and another has $200K, the child of the wealthier family will have a 5-6% greater chance of owning a home than the child of the less wealthy family.  This is a strong reminder that our clients that have bought homes with children are likely to encourage their family members to buy.   
Speaking of successful women, Oprah Winfrey is worth approximately $2B.  For those looking to the New Year and change, she shares an inspirational thought on moving your life forward on her website: CLICK HERE.



The Easterbrook Team

Thursday, November 8, 2018

It's November!



The year, as usual, is sailing by, and we find ourselves in November, the month of Veteran's Day and Thanksgiving. Most of us forget that there are 130,000 of our soldiers buried in other countries. Here is a moving 17-minute video of the Montfaucon cemetery,  during which the stunning question is asked, at 13:45 in the video by a young French woman guide at the cemetery, "What would we do if we were called to fight for another country's freedom?" She also states, at 13:21: ".... those soldiers didn't die for their country, they died for my country...they died for a freedom they would never experience...".

Tuesday, November 6, 2018

2019 Year of the Millennial!

....Statistically They Will Be Buying Your Next House!


Millennial Migration to Sacramento

Millennials are moving to Sacramento in record numbers - #3 on the top 10 cities for Millennial growth in the US.  This is no accident.  Millennials are moving to Sacramento for 3 top reasons: It’s popular among other Millennials, Sacramento has a relatively low “rich threshold”, and housing is relatively low. 
Popularity: It is well-known in millennial circles (yes, they move in packs) that Sacramento is a popular place to live.  There is lots of growth, employment, excellent schools, and plentiful recreation.  Pew Research recently did a study of all the top cities in the US.  Although California wasn’t even in the top 10 states, Sacramento was 3rd on the list.  10,000 millennials moved here recently.  We lost 5,600 of them and were left with a net of 6,680. 
Low “Rich Threshold”: In the US, the definition of “rich” is an income of two times the median income.  Nationally, the threshold for rich is $120K per year.  To be considered rich in Sacramento, a household would have to make $104,142 or more.  This figure varies from city to city.  Sacramento has plentiful employment and also benefits from the migration of high paying tech jobs that are expanding here from the Bay Area.  If you wanted to bypass the rich threshold in Seattle, for instance, you’d have to make at least close to $150K.  Sactown is sounding pretty affordable in comparison.
Low Cost of Housing: Typically, when people move to a new area, then rent.  The average cost of rent can be a big draw or deterrent if someone is moving to an area. The average monthly rent is Sacramento is $1,292 – much less than Seattle’s average of $2,180 – and far less than the average single bedroom apartment in San Francisco of $3,500 per month! 
It’s no surprise that a group of people that are known best for their research of everything from where to get the richest cup of coffee to who serves the best avocado toast, that millennials are coming to Sacramento in record numbers.  We welcome them and congratulate them on their fine choice of place to reside (but we knew it all along).  For more info on millennial migration, CLICK HERE.



Revealing Millennial Stats
A new survey by Engel & Völkers of 1,000 HENRY (High Earners, Not Rich Yet) millennials is very revealing of their preferences and beliefs.
·         80% rely on “influencers” to make purchasing decisions. They also said that would consider hiring one as a real estate agent.
·         When asked what makes a luxury brand, 80% cited “superior quality”, while 64% cited reputation as the top factor. 47% of HENRYs surveyed consider premium price as indicate of a luxury real estate.
·         98% of HENRYs surveyed said that they rely on social media or review-based websites, like Yelp, before making a purchase.
·         Here’s the rest of the story – and it’s not on Instagram.  The top factors for HENRYs for choosing a real estate agent specifically are referrals from friends and family (59%), reputation in the local neighborhood that there are interested in (53%), and local neighborhood expertise (50%). 
HENRYs are the next generation of homebuyers.  Unlike some past generations, millennial buyers are not “captured”, but rather they will seek you out if they feel you are knowledgeable and trustworthy.  Real estate agents that wish to connect with them should position themselves as trusted advisors and sources of insider information before, during, and after the transaction. 
It’s not enough to just to a good job.  A lasting connection must be made to grow your sphere of influence with HENRYs.  The magic happens when a HENRY posts what a good experience they had after you represented them on a home purchase. 

Thursday, November 1, 2018

Spookier ‘Cause It’s True!



I Know You Lion!

There’s a new trend in Chinese lending – lie detecting software.  Who needs underwriters when you’ve got a lie detector?  Ping An, a Chinese financial services conglomerate, has developed technology that tracks 54 involuntary micro-expressions to detect truthfulness. 
Don’t expect the software to be coming to the West any time soon. Imagine the lawsuits!–  To read article, CLICK HERE.

Booby-Trapped House
The bomb specialists with the FBI suspected that the Oregon house was booby-trapped.  It was confirmed when the first agent entered the front door, tripped a wire, and a shot rang out, hitting the agent in the leg.  The shot came from a concealed gun in a wheel chair. 
Agents proceeded to disarm two other booby-traps, when they discovered a hot tub, laying on it’s side, rigged to come crashing down, Indiana Jones style, on anyone that tried to open the front gate of the home. Imagine the AVID when the house is sold! To read article, CLICK HERE.

Arachnophobia to Pyromania  
A man in Fresno this month was house sitting for his parents in their suburban home.  Firefighters were called in the evening to extinguish the blazing attic. Apparently, the man, IQ unknown, was trying to kill black widow spiders in the home with a BLOWTORCH!    CLICK HERE to real article. Fortunately, no HUMANS were injured, but that didn’t stop PETA from weighing in…
Apparently, the folks at PETA were not pleased with the blowtorch method for pest eradication.  They point out that spiders are smart animals…and that “their designs are often copied by human engineers”.  Sorry, we can’t make this up. They are sending the young man a humane bug catcher.  For article, CLICK HERE.

5 Rules to the Game of Mortgage


Knowing lending guidelines is like knowing rules to a game. We often call mortgage lending “playing the game”.  When you play a game, there are rules.  You may not like them, understand their logic, or even know them. The person that knows the rules the best, however, usually wins.  We want your buyers to win all the time.

Getting a mortgage is not usually about what you should do, but rather what to avoid.  If your buyers are thinking of buying in the next 6 months, here are 5 rules of the game to help them qualify.
1.     Don’t switch from an employee to self-employed.  Salaried and hourly employees income is very straightforward.  Changing jobs is not an automatic loan decline. Changing jobs to a self-employed or 1099 borrower has a whole ‘nother set of rules. Self-employed buyers are not documented with paycheck stubs, but by verified tax returns of the past 2 years in most cases.  Without the 2 year history of self-employment, it could derail a borrower’s chances of allowing their income to qualify.  Have them call the Easterbrook Team if your borrowers are considering a job change.

2.     Balance your checkbook. Having the attitude of “my checkbook always balances – I have overdraft”, won’t cut it for some loan types.  Underwriters are required to check for irresponsible financial behavior for some loan types.  Another reason to get the Easterbrook Team involved before you “play the game”.  We can often counsel borrowers about what underwriters are looking for to give them time to clean up their checkbook.


3.     Don’t apply for new credit and/or open accounts during the loan process. Yes, your credit is monitored throughout the loan process. Don’t transfer a $5,000 credit card balance to lower your payments.  Hold off on any large purchases until close of escrow.  It could cost you your largest purchase – your house!

4.     DO sweat the small stuff.  Ignoring even a small bill of $10 can tank your credit score if it is a recent late worse – a collection.  Pay all your bills promptly – it will help you win at the loan game.  On the Easterbrook Team, we have a credit simulator that allows us to navigate past lates and collections.


5.     File your tax returns.  We know – what a hassle, right?  A little known “rule” is that lenders have buyers fill out a form called a 4506T.  This allows us to access tax transcripts for loan approval.  No transcripts?  No loan.  File those returns. 

Yes, there are lots more rules to the mortgage game.  Patty and John get out the playbook and map out a plan to win with every buyer they meet.

The Upper Crust is Rising



High Net Worth Individuals (HNWI) grew last year, globally, by 13%.  Their wealth grew 16% to $31.5 Trillion. In a recently released white paper report by Luxury Portfolio International, 38% surveyed HNWI plan to purchase in the next three years. Only 23%, however, plan on selling.  Some highlights of the white paper are:
·         Purchasing a home ranks as the most obvious indicator of success worldwide.
·         Real estate is seen as a smart financial investment and driver of personal wealth.
·         HNWI’s are more likely to say the “physical space” is the most important factor in the buying decision.
If you’d like to get a copy of the white paper from LPI, CLICK HERE.

Houston, We Have a Problem



Improvenet did a survey of 2,500 people in major cities throughout the US.  The survey asked about how people felt about their neighbors.  They found 36 common annoyances and loud music topped the list.  Loud adult voices were a close second.  The top 5 cities were all in southern hot climates (sorry Houston and LA).  For the breakdown of the most annoying cities, CLICK HERE.
How would you even disclose a neighbor that was a major pain?  “Seller reports calling the cops on Mr. Neighbor for his loud parties on 4 different occasions”.  Or how would you let prospective buyers know about #8 on the list – General Grumpiness?
The good news is that Sacramento, El Dorado, and Placer Counties didn’t even make the list.  We may not be LA or New York, but we do have a pretty chill place to live. 

Teach Me How to Duffy…


Teach Me How to Dougie Duffy…

Would you spend more than $50K to make a rap video to promote your listing?  Tim Smith of Coldwell Banker did.  The property hit the market Monday, featuring 14,000 square feet in Newport on the waterfront.  The price?  $45 million.  To see the video creating all this buzz, CLICK HERE.