2015 Planning- Prepping Your Business for Next Year’s Growth
Is your real estate business going to grow next year? If you’re working with Benchmark Realty, we’ll give you all of the tools (and the time) you need to succeed – including a little help with organizing your 2015 business goals. Are You Ready for 2015 planning? If you haven’t gotten started on next year’s business plan because, well, it’s not next year yet, you’re not alone. However, successful entrepreneurs always have a plan – it’s just a matter of pinning down the details. Here’s what you need to do: Crunch all the numbers. Figure out how much money you want to make next year, and then divide it by 12 so you can get a good grasp on what you’ll need to do each month. Answer these questions before you determine how much profit you’ll need to bring in: How much will you spend on marketing? How much will you spend on desk fees and franchise fees? (Just kidding. Benchmark Realty doesn’t charge desk fees or franchise fees.) What’s your overhead? Count the money you’ll spend on gas while showing clients around town, what it costs to run your home office, and how much you spend on other [...]
5 First Time Homebuyer Mistakes and How to Avoid Them
We’ve all seen it before: a client who’s so excited about buying his or her first home that they’re making classic mistakes. As a Realtor®, it’s your job to help them do the right thing. The good news? You can do that while building their loyalty and earning their respect – and it’s probably easier than you think. First, let’s cover the newbie mistakes: First Time Homebuyer Mistakes Buying too much house. Actually, it’s not really too much house; it’s buying more than they can afford afford (just because they’re approved for a certain loan amount doesn’t mean they can really afford it). Your clients need a serious budget before they can start serious house shopping. Forgetting about additional fees. Many first-time homebuyers don’t think about HOA fees, utility costs that go up over time (especially when appliances get old) and maintenance costs. Ignoring the need for a home inspection. We all know that big things that go unchecked will seriously affect the value of a home—like mold in the crawl space—but many first-time homebuyers might assume everything is as it seems. Unless your buyer is a licensed contractor, insist they hire a licensed home inspector to look at the [...]
Great! You Capped – Now You Get to Keep YOUR Money
At Benchmark Realty, we always have mixed feelings when a friend or colleague with another company says, “I’m so excited! I capped, and it’s only July!” Naturally, we’re happy for them. That means he or she isn’t going to have to dish out such a huge portion of their hard-earned commission. We’re also a little bummed, though, because we don’t like that business model. In fact, that business model makes us cringe a little bit. All of our agents make 100 percent commissions… no matter what. As our agents are fond of saying… “We ALL capped January 1st!” Why We Don’t Believe in Caps Well, we believe they exist for a reason. We just don’t feel like they work for everyone. At Benchmark we have three agent plans our Realtors® can choose from based on what will help them grow their own businesses and ALL of them offer 100% commission. Here’s the thing: your biggest expense as an agent could very well be the fees you pay your broker. That cuts into your marketing budget, your take-home pay and your savings for the future. Taking food out of your children’s mouths to pay a broker is simply no way to [...]
How much do Real Estate Agents in Nashville Earn?
Think back to when you first started out in real estate. I am sure that earning potential was at the top of your list of reasons for choosing this field of employment. Many people enter into the career of real estate with dreams of financial freedom and early retirement. Easier said than done, right? Today's typical real estate agent scenario is set up so that the broker reaps 20-30-40% of the efforts put forth by the agent. That might have been a good deal back when your broker was providing all your leads… before the internet. Today, almost every new client is brought in by the agent’s own efforts – through networking, referrals or marketing. Before the internet agents worked from a printed copy of the MLS, (it was like a big old phone book) searching block by block for just the right property. Today listings can be searched, refined and accessed directly by your client via multiple interactive websites. Times have really changed. What you used to do by snail mail with your customers has transitioned to e-mail, texting, electronic signatures, and Facebook chats. The way you work your real estate business has evolved. Has your real estate compensation [...]
What Every Agent Should Know About the Cost of Broker Loyalty
loy·al·ty noun ˈlȯi(-ə)l-tē 1. Steadfast in allegiance to one's homeland, government, or sovereign. 2. Faithful to a person, ideal, custom, cause, or duty. Loyalty- We all want it from our spouse, our friends, our pets and most certainly from our broker. But does there come a time when your loyalty to your broker could be damaging your family’s financial success? Are you staying with your current situation just because your broker is a longtime friend, confidant, or supporter? Admirable, but that’s money your business needs – it’s money your family needs. Exactly how much is that loyalty costing you every year? $20k, $30k, $40k? If you are operating under a traditional brokerage model, this Infographic illustrates how much it could be costing… In these days of financial uncertainty with a fragile bond market, the Federal Reserve creating billions of dollars out of thin air every month, and inevitably rising interest rates, NOW is the time to secure your future with a brokerage that has a Depth of Stability. At Benchmark Realty, LLC we have created a business model that is rock solid in good times and bad. We are a DEBT FREE company that has continued to invest in proprietary technology [...]
How To Improve Your FICO Score
The credit score average for approved mortgage applicant was 750 last month. From The Today Show from NBC, here are basic tips to maximize your FICO.
Buyers Win 6.6 Percent Increase In Purchasing Power
Home purchasing power is up 6.6% since the start of the year.
Tips To Close Your Home Loan Faster, With Fewer Hassles
Mortgage volume is expected to remain high through the end of 2012 and into 2013. Follow these steps to help close your loan on time, and with few headaches.
How To Help Your Home Appraise At Its Fair Market Value
Home appraisals thwart 33 percent of home purchase contracts nationwide. Here are steps you can take to help your home appraise at value.