Want to Earn More Than the Average Agent ($39,800)?

Many Realtors go into the business underfunded. According the National Association of Realtors, the average real estate agent spent $820 on promotional expenses, $750 on technology products and services, and $1,930 on vehicle expenses in 2017.  The NAR advises that before embarking on your career, make sure you set aside enough money to pay for the basics.    Here is the rest of their advice.

1. Focus on your current sphere of influence.  Many agents spend too much time and money casting a big net.  By marketing to people that already know you, you overcome the trust and familiarity factors.  Starting a geographic farm is not a bad way to go once you've established yourself, but it's always best and more economical to tab the resources that you've already acquired.

2. Don't put too much energy into something that isn't working.  Many agents, early in their career, try a lot of different things to get their business off the ground.  Hiring a business coach to help you focus on productive activities is usually money well spent.  It also helps to have a system to help track your business activities.  Programs such as Top Producer and Boomtown have been a great help to help agents contain costs and focus on what works.

3. Start delegating business as soon as possible.  New agents may feel like they have to handle all their business tasks themselves until they become more established to avoid the expense of hiring help. But bringing on an assistant could help you focus more on income-generating activities and boost your business faster.  Hiring a virtual assistant is a great first step.  Small tasks, such as maintaining a database, processing new listings, managing paperwork, and sending marking mailings to all be done virtually.

4. Shift your role to what consumers want.  Nobody wants to be sold, but everyone likes to buy.  Shift your job title from sales to customer service.  A recent poll of consumers purchasing homes said that 72% of the respondents wanted someone that is helpful.  Be that helpful agent that helps buyers and sellers get what they want and you are on the road to success. 

5. Team up with helpful partners.  Just like consumers are seeking out help Realtors, Realtors should seek out helpful partners to make the buying and selling experience a memorable one.  Always have one of two excellent title people, lenders, and pest control pros to make your job easier and make you shine.  On the Easterbrook Team, we a purchase specialists and we truly mean it when we say that "We Make the Loan Process Easy".    

More Words to Fill Your Head…

Best quote to get a first time buyer to take action.

Everyone wants to live on this street!

The Word on the Street Is…

Fed Chair Jerome Powell said in Congressional testimony that the global growth outlook "remains solid" and the US economy is in a "really good place" and the "best way forward is to keep gradually raising the federal funds rate."

The markets continue to expect the Fed to increase rates twice more this year unless we experience any crazy economic data or unexpected world events.  Most generally agree that the timing of those rate increases will be at the September and December Fed meetings.

Loss for Words?

Bernice Ross, PhD, nationally syndicated columnist, author, speaker, and sales trainer is an old-school salesperson.  You’d never want to go up against Bernice in a listing presentation.  She has some scripts that she gives up for free – CLICK HERE. 

A Testament to VA's Success

VA is the Way

Loan programs are varied in their individual benefits, but for veterans there is a clear choice that stands out among the others – the VA loan.  The VA loan offers the best rate, the highest loan to value, and lower fees than other loan programs on a veteran’s primary residence.  We’ve had the benefit of working with many veterans over the years and derive a lot of satisfaction from getting them in homes.

The Servicemen's Readjustment Act, passed by the United States Congress in 1944 created the VA loan as a benefit for all of the veterans that were returning home from World War II.  The VA is actually a guarantor of the VA loan – not the actual lender.  VA backs the veteran to allow qualified lenders to issue a low interest rate/high loan to value loan.  A testament to VA’s success – over the history of the program, 18 million VA home loans have been insured by the government.

VA is true 100% financing.  Currently in Sacramento, El Dorado, and Placer Counties, VA allows 100% financing up to $474,950.   If a borrower is buying above $517,500, then VA will allow 75% for the difference over this amount.  As an example of a $600,000 purchase, VA will allow 100% up to $517,500 and 75% of $82,500, for a down payment of $20,625 – that’s only 3.4% down!  No other financing option can match a down payment that low.  

 VA has a lot more flexibility with credit than most other loans.  They have shorter wait times after foreclosure and short sale than conventional loans.  They allow for lower FICO scores and higher debt to income ratios.   VA has a unique qualifying method.   In addition to a standard debt to income analysis, VA requires that the veteran and their family have a certain amount of money left over each month to pay for expenses.  This is one of the reasons that VA loans have one of the lowest foreclosure rates. 

Another great benefit to VA is that there is no mortgage insurance, saving the veteran a lot of money over the life of the loan.  There is a funding fee, but some veterans are exempt.  Just ask us. 

VA requires that the home the veteran is purchasing is of sound condition with no dry rot or termites.  They require a clear pest report before they will loan on the property. 

Veterans eligible for VA will have 90 consecutive days of active service during wartime, or have served 181 days of active service during peacetime, or 6+ years of service in the National Guard or Reserves.  Also, if you are a spouse of a service member who has died in the line of duty or as a result of a service-related disability , you may qualify for a VA loan eligibility.   To start the process, you’ll need your Certificate of Eligibility.   There are a few ways to obtain the C of E, but the easiest way is to call us and have us access the VA portal for you.  The Easterbrook Team makes the Loan Process Easy.

Check Out 1948!

What was the most popular phrase the year that you were born?  Interesting that many words that are part of our lexicon were "hip" back in the day.  In 1948, the newly formed Fannie Mae was all the buzz.  Check out the list 

Check it out: CLICK HERE!

The Easterbrook Team "We Make the Loan Process Easy"

9168506050 

Keep Her On Your Radar!

Economist to Watch

Have you heard of Diane Swonk? No, we hadn’t either.  Watch her here take on a British commentator over Brexit and how it relates to the US economy.

  CLICK HERE and jump to minute 1:35

Ms. Swonk is really a very interesting person.  She is dyslexic, which she says is to her credit. Among being self-aware and an economist, she has a net worth of over $2 Billion – all the more reason to check her out.  

Breaking News: Federal Reserve Assessment

The Federal Reserve upgraded its assessment of the U.S. economy today, but decided to skip another interest rate increase for now.

In a widely expected move, the central bank's policymaking Federal Open Market Committee voted unanimously to keep the target range for its benchmark rate at 1.75 percent to 2 percent.

However, the committee is widely expected to approve an increase at the September meeting, and a tweak in the language from the post-meeting statement could be a nod toward more monetary policy normalization.

The statement said the labor market has "continued to strengthen," language consistent with the June meeting.