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Ways to Get Organic Leads as a Realtor

On November 9, 2022

Every industry has unique tactics and requirements for getting things done. This is especially true for realtors, who must handle several elements of their own business. One such concern is generating organic leads as a realtor.

It can be challenging to create these leads, especially at first. It takes time and practice for them to feel more comfortable and organic. However, once you get the swing of things and establish a pipeline of leads, you’ll have no problem succeeding in the industry.

Networking

One of the most important things for any realtor to consider is networking. Networking can easily generate the most leads and should never be overlooked. Neighbors, coworkers, friends, etc., can all help generate word-of-mouth advertising. Each new professional connection you create introduces new opportunities.

In other words, to create a base for organic leads, you have to network. There’s no way around it, so get it done. If networking is intimidating for you, take some time to research tips & tricks. This will help you understand your strengths and weaknesses.

Branding

You’ve likely heard the term branding regarding a company’s image – but personal branding is something to consider. A strong personal brand can generate leads while you sleep if done right. How? Your name will be out there, traveling out (by word of mouth, advertising, and other branding techniques), even without your active participation.

Put another way, the better your personal branding strategy, the more consistent your work can be. People will approach you with work, creating more organic opportunities to follow through.

Referrals

Never underestimate the value of a good referral. They’re like gold, showcasing your talent and reliability to potential clients. Referrals come in many forms. For example, it may be a comment from a past client on your website. Or it may be an associate forging a connection between you and a prospective client.

Don’t forget always to show appreciation for these referrals. Especially the ones that have gone above and beyond for you. Encourage this behavior by sending them a thank you note or showing appreciation.

Social Media

Finally, don’t forget about social media. Social media is a powerful tool, with varying effectiveness depending on your goals and utilization. When using social media to generate leads, be sure you’re picking the right platform for your goals. For example, you don’t want to be on TikTok if you’re looking for leads in older generations.

Finding your stride with social media marketing may take a minute, but once you’ve nailed it, the leads will come in. Just keep working on it and be willing to adapt your strategies.

Great Real Estate Podcasts To Listen To In 2022

By W Darrow Fiedler

On June 7, 2022

In Finance, Investing, Real Estate

Want to improve your knowledge about real estate? The following podcasts are great for you to keep up with all the latest news and analysis about the industry. They’ll also provide you with entertaining and informative shows about home renovations and investing. Here are a few great podcasts to listen to in 2022.=

Best Real Estate Investing Podcast Advice Ever With Joe Fairless

Joe Fairless is a well-known real estate investor and host of this weekly podcast, which covers various topics related to the industry. He has a wide variety of blog posts and videos, and he frequently interviews other industry professionals. Each episode of the show provides valuable advice and insight from various guests, such as house flippers, renters, and passive income investors.

House Party

If you’re a fan of celebrity property purchases and the buying and selling of real estate, House Party is a must-listen. This weekly podcast from realtor.com talks about the latest trends in the industry, as well as the stories of real estate professionals who have experienced various home disasters. Co-hosts Rachel Stults and Natalie Way also share their personal stories of moving across the country and dealing with various real estate-related issues.

Cashflow Diary

Author and entrepreneur J. Massey is the creator of Cashflow Diary, and he also provides free training courses to aspiring and experienced real estate investors. He has a wide variety of blog posts and videos that he frequently interviews other industry professionals. He can help you find the best deals and strategies for buying and selling real estate.

Bigger Pockets

BiggerPockets is a weekly podcast that features off-the-cuff conversations with real estate investors and entrepreneurs. Co-hosts Brandon Turner and Josh Dorkin talk about their backgrounds, experiences, and failures. Each episode of the show features a different real estate investor talking about their successes and failures. The goal of the program is to provide a community of like-minded individuals who are committed to building their financial education.

The Remote Real Estate Investor

There are a variety of real estate investing podcasts available, but one that stands out is The Remote Real Estate Investor, which is hosted by Tom Schneider, Michael Albaum, and Emil Shour. The hosts of this show talk about the various advantages of remote investing. Topics covered in this podcast include investing in markets that are far from home, managing a property manager, and identifying markets to buy-in.

Buying A Home In 2022

By W Darrow Fiedler

On April 15, 2022

In Investing, Real Estate

Real estate is constantly changing, and buying a home has become extremely difficult over the past few years. In 2021, property values skyrocketed, making real estate great for sellers but challenging for buyers. Experts expect the market to relax a little bit in 2022, but it’s still not the most ideal situation for many buyers. That doesn’t mean you should avoid buying all together. If you do your research and are diligent, you can certainly find your dream home. Read on to learn a little bit about buying a home in 2022.

Home Prices Will Keep Rising, But At A Slower Rate

Although home prices are expected to continue rising in 2022, they’ll be at a slower pace than they were in 2021. According to the National Association of Realtors, home prices are expected to increase by just 2.8% in 2022. Other experts, such as the mortgage bankers association and the housing finance company Fannie Mae, predict a more modest increase of around 7%.

Mortgage Rates Will Increase, But Still Be Low

Despite the expected increase in mortgage rates in 2022, the average 30-year fixed-rate remained at a historic low of 3% in 2021. It’s important to note that even if the increase is as predicted, the mortgage rates will still be fairly low.

According to Yun of the National Association of Realtors, the average 30-year fixed mortgage rate will increase to 3.7% in the coming months. Other organizations such as The Mortgage Bankers Association or Fannie Mae believe that it will raise to 4% and 3.3%, respectively.

Actually Buying A Home

Knowing a bit more about the housing situation in 2022, you may decide to go ahead and start house hunting. But are you prepared? Ask yourself a few questions to be sure you understand what you’re getting yourself into.

Are You Financially Prepared?

No matter what the housing market is like, it’s always important that you make sure you’re financially prepared to buy a house. This means a lot more than being able to make a mortgage payment each month. You’ll want to make sure you have the money put aside for closing costs, moving costs, potential repair costs and so much more. You’ll also want to make sure you have a high enough credit score to take out a mortgage.

Research Neighborhoods

It’s important to research the places you’re considering moving to. You don’t want to buy a house and then find out months later that you hate the area. If you have kids, research the local school system. You may want to look at crime rates, or what the weather tends to be like in the area so you can avoid potential flood zones. These things are important to make sure you’re happy with your home in the long run.

Find The Right Real Estate Agent

Finding an experienced real estate agent who cares more about making their clients happy than they do making a sale is integral to finding the perfect home. Research local realtor reviews, or ask friends and loved ones for recommendations. The agent you work with can make or break the entire homebuying process.

Why Mortgage Reserves Matter

By W Darrow Fiedler

On November 16, 2021

In Finance, Investing, Real Estate

Mortgage reserves, also known as cash reserves, are finances available to lenders after paying their deposit and closing their home acquisition. The cash should be in liquid or able to be converted into cash quickly. The purpose of mortgage reserves is to secure several months of mortgage installments in case of any financial constraint. It is generally determined by the number of monthly deposits one can make based on the saved cash. The monthly installments should comprise the principal, interest, property taxes, and mortgage or homeowners’ policy. It also involves any payments for homeowners available, secondary, and leasehold disbursements.

Generally, purchasing a home requires a lot of money. Therefore, apart from saving for your deposit and closing price, you must keep your mortgage reserves for various months. The mortgage lenders must ascertain that one can afford the monthly installments after any financial challenges. Cash reserves also help individuals to become satisfied with their choice of purchasing a home. There are also various costs associated with buying a house. These include maintenance payments and getting extra furniture.

Regardless of the lender’s requirements, the homebuyers should save not less than 3 to 6 months of their mortgage and home payments. As a result, the housing expenditure should not be more than a quarter of the monthly income. One should save proper reserves in bank accounts or from profitable businesses. Lack of savings may lead to serious debt. However, staying without investing is also not a good idea.

Acceptable Assets for a Lender’s Reserve Requirements

In cases where reserves are needed, one has to provide evidence of the owned assets. An account with stocks and bonds, for example, is an easy way of transferring the required cash. The other assets comprise of:

Retirement accounts such as Roth and IRAs
Regular earnings
Trust and saving accounts with a bank or credit union
Committed finances in employee 401k accounts
Vested amount from life insurance
Court settlements, lottery wins, and disaster relief funds
Money market accounts, CDS, and short term treasury bills

It is advisable to budget for mortgage reserves for anyone planning to own a home. Using a mortgage calculator helps to determine the amount that someone needs to save. One should also seek advice from mortgage lenders to make an informed decision and plan accordingly.

Closing Costs When Buying a Home

By W Darrow Fiedler

On September 15, 2021

In Finance, Investing, Real Estate, Welcome

Many individuals save for a down payment for their future home, but they might not be aware of the fact that this isn’t the only money that they need to have when they close on it. Most homeowners have to pay closing costs as well. Here’s a little bit more information about closing costs and some ways to lessen them.

What’s Included

Closing costs tend to be about 4% of the purchase price of a home. This amount can vary slightly. Closing costs tend to include things like origination fees associated with the loan, title insurance, attorney fees, and closing fees. For many sellers, the amount they have to pay in closing costs can equate to thousands of dollars. Buyers will receive an itemized list of their closing costs before their actual closing date. This will allow them to see how much each item is that they have to pay for. Fortunately, they may be able to get some help paying for their closing costs.

Getting Assistance

There are a few different ways that buyers can lessen the amount of money that they have to bring to the table during their closing. In some instances, sellers may actually pay the closing costs themselves. This is common for sellers whose house has been for sale for a long time. There also are a variety of grants available that may be used to pay for closing costs if certain requirements are met. Buyers might also be able to roll their closing costs into the loan of the home. While they still will have to pay all of the closing costs, they may end up being more affordable for those that are limited on cash as they can pay them over the life of the loan.

Buying a home can come with a lot of expenses before the buyer even gets the keys to the house. Fortunately, there are some ways that buyers can get assistance paying for closing costs. It’s best for buyers to be upfront with their realtor and mortgage broker about how much they can afford to pay upfront. They can use this information to help the buyer find a few different ways to make closing costs a little more affordable for them.