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Brought to you by Laura Shelton
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BUSINESS TIPS
3 STEPS TO GET BUSINESS IN ANY MARKET
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Have you ever noticed there are some people in our industry who do relatively well every year, despite what the market conditions are? Some top producers even perform at a similar level regardless of what’s happening with the economy or with anything else affecting the housing market. The fact is, there’s always something impacting real estate, and if we wait before we put in a big effort to get business, we’ll be waiting a long time.
So, what are these consistently successful people doing? One thing they never forget is that regardless of market conditions, real estate is bought and sold every day, everywhere, in every kind of market, and there’s nothing stopping them from getting involved. Top producers know that as long as homes are being sold—which they always are—they can take steps to strengthen their business. Here are three steps to take to replicate their performance.
Be Willing to Adapt. This starts with adjusting your mindset to not buy into the idea that things are slow and everyone is taking an income hit. Understand that your income possibilities could be unlimited, no matter what’s happening in the market. Figuring out how to get involved in more deals means you must adapt and change as the market changes. Don’t keep doing what you’ve been doing. Go after business where the business is. Be extra flexible and ready to pivot.
Dial Up Your Activity Level. When the market changes, you also have to increase your efforts a lot just to get the same results. Ramp up what you do to generate leads—that’s how the top producers pull away from everyone else. It is important to your bottom line to dial up your workload when things are slow.
Don’t Stop Spending On Your Business. Shutting down spending altogether could be a big mistake. Keep investing in your marketing, keep paying your coach. Do monitor what you spend and where you spend it, then continue with any expenditures that are bringing in deals and growing your revenue.
You can start taking these steps right now. They’re simple and straightforward, though, admittedly, not that easy to do. It takes the flexibility to change with the market and the motivation to do what is necessary. Just remember that your income potential is controlled by what you choose to do every day!
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TECHNOLOGY
HOW TO USE VIDEO MARKETING TO FOSTER RELATIONSHIPS
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In a host of businesses, the marketing value of video content keeps climbing. Video is one of the most popular ways to engage an audience. It’s been reported that 80% of people prefer video over written text, 87% of businesses use videos in their marketing, and 88% of consumers were convinced to make a purchase after viewing a video.
Videos are not only a great way to showcase your listings and services, they’re also a powerful way to educate your audience, create a trustworthy and relatable brand, and build relationships with clients, prospects, and referral partners. Video marketing is not just an option—it’s become a necessity. The good news is, now it’s easier than ever to develop compelling video content quickly, for not much money. Here’s how.
What You Need to Start Out. You already own the most critical tool—a smartphone. Next, invest in affordable lighting and a microphone, to get professional results. Finally, do a Google search for video services that help turn raw footage into a well-produced video. You’ll find a variety of options, from free apps and software, to affordable paid software and services.
Some Production Notes. Include subtitles to be accessible to viewers who are hard of hearing, as well as to those watching in an environment where the sound must be muted. Include any disclaimers required for compliance, and adhere to the branding you use in your other marketing communications. Separately, create a content calendar that helps you plan, lets you create content in bulk, ensures that you have a mix of content types to keep people coming back, and helps you maintain a consistent presence. Finally, don’t obsess about your on-screen performance. Starting out, it’s natural to feel shy about being on camera. Just remember, this is not about you—it’s about engaging your audience. Don’t focus on being scripted and rehearsed—just be authentic, speaking naturally and from the heart.
Content Ideas. Build videos around questions sellers, buyers, and referral partners might ask. Do videos on common questions and concerns each of those audiences may have. Begin the video with a “hook,” such as “Here’s what’s happening right now in our local real estate market.” Create “edutainment”—videos that are both educational and entertaining, offering helpful insights in entertaining ways that make them more memorable. Also create “evergreen” videos with long-lasting value. These can be based on frequently asked questions you answer in short, impactful videos. Address seller concerns, such as “How to price a home to sell quickly for the most money.” And buyer concerns, such as “What’s the first thing to do when you start shopping for a home?”
Track What You’re Doing. Social platforms, such as YouTube, offer helpful analytics that provide valuable insights into viewer preferences and engagement patterns. Use these findings to tweak content, so that future videos are even more effective. Remember, the goal is to create video content that resonates with your audience—to get more leads, dial up your brand presence, and stand out in your market.
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MARKET TIP
EXPERT PREDICTIONS ABOUT THE REST OF 2024
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People who are thinking of buying or selling a home are trying to figure out what’s ahead for the rest of the year. Here’s what industry experts project.
Home Prices. Experts say home prices will continue to climb in most markets around the country—just at a more moderate pace. The Deputy Chief Economist at the National Association of Realtors (NAR): “One thing that seems to be pretty solid is that home prices are going to continue to go up, and the reason is that we don’t have housing inventory.” Yes, there now are more homes on the market, but there still aren’t enough to meet buyer demand. This pushes prices up, though more listings have slowed the pace of price gains.
Mortgage Rates. Experts project mortgage rates should come down a bit later this year, as inflation cools and the Fed lowers the prime rate, which then lowers mortgage bond yields, lowering mortgage rates. However, the drop will most likely be small—and no one expects mortgage rates to return to the super-low levels of 2020-2022. Consequently, it may actually cost buyers more if they wait for these small rate drops while home prices keep rising.
Predictions. Business Insider reports : “…the economists who study housing market conditions overwhelmingly do not expect a crash in 2024 or beyond.” Home prices crashed in 2008 because there was an oversupply—too many homes for too few buyers. Even though inventory has recently increased, we’re still well under-supplied.
In summary, the experts project rising prices and inventory, and a small decline in mortgage rates if inflation keeps easing. That makes for a more stable and predictable real estate market—good for buyers and sellers who want to make a move.
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Thank you for the business-building opportunities your partnership provides — we love providing the same to you!
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Laura Shelton Producing Branch Manager NMLS# 546578
1803 Executive Sq Jonesboro, AR 72401
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This e-mail is an advertisement for Laura Shelton. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice, or a commitment to lend. Although the material is deemed to be accurate and reliable, there is no guarantee of its accuracy. The material contained in this message is the property of Supreme Lending and cannot be reproduced for any use without prior written consent. Notices. Everett Financial, Inc. dba Supreme Lending, NMLS ID #2129 (www.nmlsconsumeraccess.org), 14801 Quorum Drive, Suite 300, Dallas, TX 75254 (877-350-5225). Solicitations made to and applications accepted from residents in AL, AK, AZ, AR, CA: Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act; CO, CT, DE, DC, FL, GA, Hawaii Mortgage Loan Originator Company License HI-2129, Mortgage Servicer License MS144, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA: MA Mortgage Broker License MC2129, MA Mortgage Lender License MC2129, MA Mortgage Servicer License MC2129; MI, MN, MS, MO, MT, NE, NH, NJ: Licensed by the N.J. Department of Banking and Insurance; NM, NC, ND, NV, Licensed Mortgage Banker -- NYS Banking Department, NY Office: 5385 Main St., # 1, Williamsville, NY 14221, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY. This is not an offer to enter into an agreement. Information, rates, and programs are subject to change without prior notice and may not be available in all states. All loans are subject to credit and property approval. Supreme Lending is not affiliated with any government agency. © 2024. Everett Financial, Inc. dba Supreme Lending. All rights reserved. Equal Housing Opportunity Lender.
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