Episodit
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In Part 1 with Brent Lancaster, we started the conversation about the Buyer Agreement and itâs a timely conversation. We recorded this before the proposed settlement from NAR was released. While the settlement is still proposed, and itâs not final, one of the key points in it is the importance of a signed agreement with our buyers. There are details to be clarified but it seems this topic is even more relevant than before we recorded it.
This agreement with buyers to work together and get paid for the work you do is crucial for us. Brent owns a school and teaches CE classes in many states and is very familiar with the laws and agreements in many states. Heâs not a lawyer and heâs not a pro on every single one but he does bring so much wisdom to the conversation. Iâm thrilled to have him with me for this topic and I hope you join us for both episodes.
Letâs join Brent and learn more about the sections that are in most Buyer Agreements. Itâs important to understand all those sections, and why they are important. Your documents will vary from state to state, as does your law. Please refer to your state law first, guidance from your state and local associations, and, very importantly, your broker for clarity on your specific state and situation.
[2:58] Brent Lancaster, welcome back with us! In the last episode, we talked about the Buyer Agreement, having the conversation with the buyer to sign it; why itâs important to sign it, and what happens if something goes wrong. In this episode, we want to discuss the elements of the Buyer Agreement. Itâs becoming more important that they are accurate.
[3:49] Defining your Buyer Agreement and how you fill it out is the job of your broker and the lawyers in your state. It is not your job. Weâll talk about some of the things we teach in the ABRÂź Accredited Buyerâs Representative designation. Go to your broker and your state law for your policy; also check with your state and local associations.
[5:25] The commitment has a start date and an end date with a caveat for an automatic extension for a closing that is scheduled beyond the end date, similar to a listing agreement. The length may be negotiated. It may be for 180 days or no longer than a year to be enforceable.
[6:56] In a discussion with a broker, in arbitration, or with a judge, they will look at much more than the agreement as to whether itâs enforceable. Theyâll look at how closely you worked together, who made a change, how much work you did, and more. How many calories did you burn?[7:45] The Carryover Period extends the time of the agreement if the buyer buys a property after the agreement that you showed the buyer during the agreement. The buyer may still owe compensation. This clause protects you.
[8:40] The Duties of Each Party is in two paragraphs. Discuss this in your buyer consultation in terms of your responsibilities and the buyerâs responsibilities. Try to have the same number of bullet points for each party. Brent gives some examples and priorities of the responsibilities of the agent.
[12:50] Brent discusses some responsibilities of the buyer. The first is to work exclusively with the agent. Explain why thatâs important. Discuss what happens if the buyer is approached by another agent, or walks through a model home. No one in a model home represents the buyer. They are working for the seller.
[14:05] The buyer consultation covers some of these situations, such as what properties theyâve looked at, if they have financing and more.
[15:51] One section deals with compensation. Explain how money flows in the transaction. The buyer gets a loan or cash. They hand that money to the seller. The seller pays off the mortgage, and fees, and keeps the net. The listing and buying agents get paid. Explain how much you get paid for your service.
[17:35] Tell your buyer what your fee is and that you will do your best to get it from the seller. If the seller refuses, the buyer decides if they want to look at that home. Before you show any property, explain to the buyer how much they will need to bring to the table. They can decide if they want to look at it.
[20:41] Monica notes that in Spain, an agent can be hired as a personal house shopper for the buyer. Monica also points out that buyersâ agents could be considered to be consultants. Consultants get paid.
[22:18] There can be a section on a general description of the property type, a general area where you will look for it, and how much they will spend. If they materially change their mind, amend the agreement.[29:37] Brent explains compensation earned vs. compensation paid. What if you take the buyer up to days before closing and they want to terminate the contract? Language stating when your compensation is earned needs to be in the contract. Termination fees need to be negotiated in the contract.
[31:36] Youâre going to do whatâs best for you. What we wanted to do in this episode is give you a general overview of some of the most important things that are in the Buyer Agreement.
[31:47] Buyers are just dying to buy! There are some pent-up buyer demands. Brent is excited about the rest of 2024, second quarter, third quarter; those agents that are ready, those agents that have planted those seeds, theyâre going to reap the rewards. Brent is excited for them.
[32:24] Brentâs final word: âThanks! I really appreciate the opportunity to do this, Monica! This has been so much fun. I really have enjoyed it and if anyone has any questions, just reach out to me. Iâd be more than happy to help at least talk through it or have a conversation. This is my jam! I love talking about it!â
[33:10] Brent, thank you so much for all your wisdom, clarity, and the beautiful way that youâve explained some of those things!
[33:49] Please continue to listen and learn from people who are creating solutions for you and your business in ways that produce growth and understanding for you and your client. Your ABRÂź instructors are working very hard all over the country to help us all be more focused on the quality service we bring to our clients and communicating that clearly to our prospects and the public.
[34:09] Go to Learning.REALTOR to get more information about quality training online or in your local area. Getting your Accredited Buyerâs Representative (ABRÂź) designation is more important than ever. You might consider getting it again for a good refresher while considering your business options and plans. I have so enjoyed the personal engagement with agents in my classes on this topic.
[34:37] Change can be good if we lean into the growth opportunities that it provides! Thanks so much for joining us! Iâm Monica Neubauer for the Center for REALTORÂź Development.Tweetables:
âIf you donât tell your buyer what to do, then youâre going to lose that buyer.â â Brent Lancaster
âWe wanted to give you an overview of some of the most important things that are in your agreement.â â Brent Lancaster
âBuyers are just dying to buy! There are some pent-up buyer demands. I am excited about the rest of 2024; second quarter, third quarter; those agents that are ready, those agents that have planted those seeds, theyâre going to reap the rewards.â â Brent Lancaster
Guest Links:
LancasterInstitute.com
BobBrooks.comLinkedIn: Brent Lancaster
NAR Resource Links
ABRÂź Accredited Buyerâs RepresentativeAdditional Links:
Microcourses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse!
Crdpodcast.REALTOR
Learning.REALTOR â for NAR Online Education
Training4RE.com â List of Classroom Courses from NAR and its affiliates
CRD.REALTOR â List of all courses offered
facts.realtor
Host Information:
Monica Neubauer
Speaker/Podcaster/REALTORÂź
MonicaNeubauer.com
FranklinTNBlog.com
Monicaâs Facebook Page: Facebook.com/Monica.Neubauer
Instagram: Instagram.com/MonicaNeubauerSpeaks
Guest Bio
Brent Lancaster
Brent Lancaster combines his love of the business of real estate with his passion for education. As president/CEO of one of the nationâs oldest real estate schools, he offers a variety of solutions to the challenges agents face in todayâs real estate environment.
In 2003, Brent developed his first online course and has spent every year since, searching for innovative ways to bring quality and consistency to every agent using multiple delivery formats. Today, he continues to teach classroom instruction but has transformed the traditional brick-and-mortar classroom into a multimedia educational experience called On-Liveâą.
Brent is also the broker/owner of his own real estate firm, Brent Lancaster & Associates.
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Please Note: Effective August 17, 2024, all MLS Participants working with a buyer are required to obtain a written buyer agreement before touring a home. For details about this and other practice changes, please visit facts.realtor.
This is our 100th episode â 100 great episodes with so many amazing people who volunteered their time to help you be the best agent you can be! So many helpful topics for your business! Who has been with me on the whole journey, even if you missed a few? If you see me out on the road at Midyear, Annual, or in a class, greet me and tell me what your favorite episode was! Iâd love to hear it!
Today, my guest, Brent Lancaster, and I talk about the often legally required, Buyer Representation Agreement. We recorded this before the proposed settlement from the NAR was released. While that settlement is still proposed, and not final, one of the key points in it is the importance of a signed agreement with our buyers. There certainly are many details to be clarified, but it seems this topic is even more relevant than when we recorded it last month, and we knew it was relevant then. This agreement with buyers to work together and get paid for the work you do is crucial to our work.
Brent owns a school and teaches CE classes in many states. Heâs very familiar with the laws and agreements in many states. He brings so much wisdom to the conversation. I am thrilled to have him with me on this important topic! I hope you can join me for both episodes!
[3:47] Brent Lancaster is our guest for our 100th episode! Brent says heâs got fireworks and confetti! Brent is super excited and congratulates Monica on the 100th episode!
[4:36] The laws and agency status in each state are not the same. As we talk about this, we need you, the listener, to recognize there are nuances and local practices. Always confirm questions with your broker.
[5:11] Weâre going to talk about buyer agency commitments. Not every state practices buyer agency and agreements differ by state. Some states are changing their laws. Watch for changes in your state. Weâre recording this in March of 2024.
[6:24] First, know what your stateâs default agency position is. Regarding clients and customers, you owe your clients a lot more than you do your customers. We need to be honest and truthful to everyone.[7:20] You donât owe your customers a fiduciary duty. You owe your clients a higher level of service: loyalty, obedience, confidentiality, and in some states, fiduciary duty. You also have the Code of Ethics, over and above the law.
[8:41] Marchâs episodes with Lynn Madison are about all the things agents do for buyers. The structure is changing and thereâs no longer an MLS amount a buyerâs agent will get paid. Youâll need an agreement,
[10:22] Buyerâs agents have just been accepting the Offer of Compensation. You show different properties, do the same thing, and are offered three different levels of compensation. Thatâs going away. Now, you, the buyerâs agents are in charge of your level of compensation.
[11:27] Now you get to put your value on paper. A lot of agents havenât done it. Change is hard even if you want to change. Weâre at the point where itâs potentially obligated. Get on board, early!
[12:12] Brent says a conversation needs to happen before a contract. Brent sits with a seller or a buyer and explains his value and services. The Listing Agreement or the Buyer Representation Agreement is a summation of those conversations.
[15:35] Tell your buyer that to perform services for them to help them buy the house they want, you need to be in a client relationship with them. Thatâs what the Buyer Representation Agreement does. You must know what your value is. Do you struggle with your value? Go to Competition.REALTOR (now facts.realtor) for ideas!
[17:11] When do you have the buyer sign the Buyer Representation Agreement? What do your broker and state law say? Brent says to have the buyer sign before the first showing. Showing is part of your value.
[18:10] The first face-to-face contact when you present the Agency Disclosure, if your state has that, is a good time to present the Buyer Representation Agreement. A buyer consultation could be a good time.
[21:22] If the buyer already has an agreement with another real estate agent but wants to work with you, find out if the buyer has gone on showings and what work the other agent has performed. Buyers need to be educated. A buyer canât work with two agents. An agreement can be terminated with written notice.[23:13] REALTORSÂź have an affirmative obligation to determine if a buyer has a Buyer Representation Agreement. If an agent takes your client, ask if they asked the client if they had a signed agreement.
[24:51] If a buyer doesnât want to sign an agreement, you make a business decision. Is it a buyer you want to work with? Is it a buyer? Whatâs going to happen if you donât get paid? Itâs no fun to be burned.
[26:40] What about unrepresented and unqualified buyers going into open-house homes? The NAR says 89% of buyers are represented by a real estate professional. Explain your value to the buyer!
[29:35] What if the buyerâs agent doesnât get paid? Brent notes some scenarios. Agency Representation and compensation are separate things. Legal representation doesnât guarantee compensation.
[31:15] A Buyer Representation Agreement is a contract. The buyer says the agent will do work for the buyer and the buyer will pay the agent for the work. No reasonable person expects agents not to get paid.
[31:55] The more the agent explains to the buyer how money flows in the transaction, the better off the agent will be. Brent covers negotiating cooperative compensation between the buyer and sellerâs agents.
[34:48] Brent believes that the buyersâ agents who are strong enough to have the conversations about compensation are the ones who are going to get the deals.
[35:16] Monica encourages buyersâ agents not to be afraid to negotiate with the seller about compensation. The seller may not have chosen to make an offer but may agree to negotiate for a sale.
[36:05] Brentâs final words: âGet used to having the conversation! ⊠Those who get used to having it sooner are the ones who are going to win! Weâre entering into an awesome market! Buyers are going to be more plentiful. If you can have the conversation, youâre going to convert faster than anybody else!â
[36:33] Thanks so much to Brent Lancaster for sharing so much wisdom! I hope this conversation expanded your thinking about the benefit of having a signed agreement with your buyers. It is common for us to have agreements with service providers. We should have one too, with our clients.
[36:58] Please join us for the second episode, where we will discuss the individual components of the agreement and why they are important. We will also discuss some of the considerations regarding even more clarification for the agreement, moving forward.
[37:13] In these days, please listen to people who are creating solutions for you and your business in healthy ways. Your ABRÂź instructors are working very hard all over the country to help us all be more focused on the quality service we bring to our clients and to help us communicate that clearly.
[37:35] Go to Learning. REALTOR to get more information about quality training online or in your local area. Getting your Accredited Buyerâs Representative designation is more important than ever. If you got it more than five years ago, you might consider getting it again. Itâs been updated and is so helpful!
[38:08] Change can be good if we lean into the growth opportunities that it provides! Thanks for joining us! Iâm Monica Neubauer for the Center for REALTORÂź Development.[39:17] When your clients ask you questions, have great conversations with them so you can go out there and help them buy those properties!
Tweetables:
âA lot of buyerâs agents have been staring at the Offer of Compensation and have just been accepting of what it is. Conceivably, I could show three different properties, do the exact same thing and essentially be offered three different levels of compensation.â â Brent Lancaster
âThe sticking point is itâs different. A lot of agents havenât done it before. Itâs different and hard. Change is hard even if we want to do it. Now, weâre at the point where this agreement is something thatâs potentially going to be necessary.â â Brent Lancaster
â[A Buyer Representation Agreement] is a contract where the buyer is saying âYouâre going to do work for me and Iâm going to pay you for that work.â I donât think that thereâs anyone ⊠thatâs reasonable that expects agents not to get paid for what they do.â â Brent Lancaster
âThatâs the market that weâre headed to and those buyerâs agents that are strong enough to have those conversations [about compensation], I think those are the ones that are going to win the deals.â â Brent Lancaster
Guest Links:
LancasterInstitute.com
BobBrooks.comLinkedIn: Brent Lancaster
NAR Resource Links
ABRÂź Accredited Buyerâs RepresentativeAdditional Links:
Microcourses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse!
Crdpodcast.REALTOR
Learning.REALTOR â for NAR Online Education
Training4RE.com â List of Classroom Courses from NAR and its affiliates
CRD.REALTOR â List of all courses offered
facts.realtor
098: âNavigating Client Conversations: Communicate Your Value with Confidence and Clarity with Lynn Madison: Part 1â
105 More Ways REALTORSÂź Are Worth Every Penny of Their Compensation
Host Information:
Monica Neubauer
Speaker/Podcaster/REALTORÂź
MonicaNeubauer.com
FranklinTNBlog.com
Monicaâs Facebook Page: Facebook.com/Monica.Neubauer
Instagram: Instagram.com/MonicaNeubauerSpeaks
Guest Bio
Brent Lancaster
Brent Lancaster combines his love of the business of real estate with his passion for education. As president/CEO of one of the nationâs oldest real estate schools, he offers a variety of solutions to the challenges agents face in todayâs real estate environment.
In 2003, Brent developed his first online course and has spent every year since searching for innovative ways to bring quality and consistency to every agent using multiple delivery formats. Today, he continues to teach classroom instruction but has transformed the traditional brick-and-mortar classroom into a multimedia educational experience called On-Liveâą.
Brent is also the broker/owner of his own real estate firm, Brent Lancaster & Associates.
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Puuttuva jakso?
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Please Note: Since the recording of this episode, NAR entered into a proposed settlement agreement that would end litigation of claims brought on behalf of home sellers related to broker commissions. To learn more, and to prepare for the practice changes taking effect August 17, 2024, go to facts.realtor.
Welcome to Part 2 of my conversation with Lynn Madison! Today we are talking about different business models. As you refresh your presentation of what you do and what you charge, we want you maybe to consider some other options or, at least, some other parts of the business and we also want you to be aware of the possibility that somebody else might have a different business model; how are you going to be prepared for that? Go back to episode 098 to hear the start of our conversation on clearly communicating your value to your clients. Lynn Madison has received the REBAC Hall of Fame Award, the REBI Distinguished Educator Award, and Educator and REALTORÂź of the Year, both from the Illinois Association of REALTORSÂź. She is also one of the primary authors of the ABRÂź designation course and we are thrilled to have her back with us again. We will link to the other two episodes where Lynn has been with us, in the show notes.Welcome back, Lynn Madison, for Episode 2!
[2:25] So we just want to talk about maybe some of the different ways people can get paid, maybe some challenges we see, and what we hear from people talking about business models.
[2:45] Your business model must be something that is allowed in your state. Your menu of services must not include options that are lower than the minimum services that the license law requires you to give.[5:05] Competition.REALTOR (now facts.realtor) lists tasks you perform for clients. Are they in your business model? Lynn says your business model is what you deliver but be consistent. She talks about when inconsistency hurt her.
[7:44] If you provide different levels of service, have the client check and sign on a written document what level of services they are choosing, so there is no confusion or anger later. Be very clear about it.
[8:37] Lynn has a pledge of performance. In it, she offers her full level of service to every client. If she offered less service to some, she would need a separate pledge of performance for that level of service.
[10:07] Lynn teaches about six buckets: finding a suitable property, showing property, analyzing the market, writing a reasonable offer, negotiating the offer, and following the transaction through to the closing.
[10:47] People donât like to lose out. When you have a buyer sign a Buyer Representation Contract, you move the buyer from customer-level service to client-level service. Lynn explains what that means by law.
[14:50] Youâre going to want to have this Buyer Representation Contract signed with a compensation amount in it. Youâre going to have to figure out how to talk about compensation with your buyers.
[15:33] Stop being afraid of talking about compensation. Explain what it is you do to earn the money you are making. Nobody works for free.
[19:34] Study in the last 18 months in your market, how long it took you to find a property for your buyer. Tell your client, in this market, it takes about four to six months to find a house. Would that fit your plans?[22:54] Follow your state law regarding the contract and protection period. What if they buy something after the contract that you showed them? If the contract period is long, there must be an opt-out.
[26:52] Lynn wants to give her buyers premium-level services but if the buyer finds a house in two weeks instead of six months, thatâs a good place to offer a menu of services. Also, Monica tells why this podcast episode is not an antitrust violation conversation in the discussion of business models.
[29:27] You can use a free Zoom account to meet with buyers, especially if out of town. Share your screen with them. Tell how they will be notified of new listings in MLS and other features and statistics.
[31:10] Statistics of days a home stays on the market can show the urgency of making a move to buy a home. You can show these electronically or on paper. NAR resources linked below can help.
[32:43] Lynn takes NAR resources and personalizes them for herself to show her clients her pledge of performance of what she will do for them to get them the right property at the right terms to the closing.
[34:40] How Lynn deals with appraisal disagreements.
[35:41] In this hour, Monica and Lynn have shared some of what they teach in the ABRÂź class. Be sure to take the ABRÂź designation, with Lynn, online, or locally.
[36:49] âIf youâve not read the book, Who Moved My Cheese?, get it and read it. If you think about what weâre going through, it helps you realize that youâve got to change your mindset.â
[37:52] Monica thanks Lynn Madison. She gives us so much great information! What is your takeaway from this conversation? Can you bring some points back to your team or brokerage firm?
[38:05] Please share this podcast with your fellow agents. I am learning all the time and I am talking with some very well-trained and thoughtful educators. They want to help you and the people that they train to make the transition that needs to be made. Please share this as a resource for this time.
[38:31] The Center for REALTORÂź Development offers excellent training and you can find live, live virtual, and online courses, designations, and micro-courses. Check out the ABRÂź offerings and the SRS offerings locally or at Learning.REALTOR.
Tweetables:
âYour business model cannot be something that is not allowed in your state. Some states have, for example, Minimum Services. If I have an exclusive agreement with my client, whether it's a listing or a buyer, I must give them a certain level of service.â â Lynn Madison
âIâm at a loss as to understand why a buyer would want to go [without representation]. But part of the problem is we havenât been having these conversations with the buyers.â â Lynn Madison
âYouâre going to have to figure out how to talk about compensation with your buyers. All of this ties back into your value proposition.â â Lynn Madison
âIf youâve not read the book, Who Moved My Cheese?, get it and read it. If you think about what weâre going through, it helps you realize that youâve got to change your mindset.â â Lynn Madison
Guest Links:
Madisonseminars.com080: âTalking Buyers, Contracts, Value, and Fees with Lynn Madisonâ
098: âNavigating Client Conversations: Communicate Your Value with Confidence and Clarity with Lynn Madison: Part 1â
NAR Resource Links
ABRÂź Accredited Buyerâs RepresentativeSRS Seller Representative Specialist
Additional Links:
Microcourses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse!
Crdpodcast.REALTOR
Learning.REALTOR â for NAR Online Education
Training4RE.com â List of Classroom Courses from NAR and its affiliates
CRD.REALTOR â List of all courses offered
Competition.REALTOR
Host Information:
Monica Neubauer
Speaker/Podcaster/REALTORÂź
MonicaNeubauer.com
FranklinTNBlog.com
Monicaâs Facebook Page: Facebook.com/Monica.Neubauer
Instagram: Instagram.com/MonicaNeubauerSpeaks
Guest Bio
Lynn Madison
Lynn is the owner of Lynn Madison Seminars, a full-service training and development company devoted to the advancement of professionalism in real estate.
Formerly Lynn was Vice President and Director of Career Development for The Prudential Preferred Properties in Chicago, a 25 office firm with over 900 associates, where she authored and trained their New Agent Institute. Before that, she held the same position with First United REALTORSÂź, a local independent with 28 offices. She was the manager of two different offices for First United. Prior to that, she was an award-winning salesperson â receiving their Salesperson of the Year honors.
Lynn speaks annually at the NAR conventions and is an ABRÂź, BPOR, GRI, SFR, SRESÂź, and SRS instructor and has conducted classes in over 30 states. Lynn's involvement with REBAC goes beyond instructing. She conducts the trainer recertification program for REBAC instructors annually and has authored or co-authored the SFR, ABRÂź, and BPOR courses.
Lynn regularly conducts the New Member Orientation program for many of the associations in the Chicagoland area, as well as Professional Standards and Leadership training sessions for many state and local Associations. She is the Treasurer of Main Street Organization of REALTORSÂź her local 14,000+ member association.
At the National level, Lynn currently serves on the NAR Professional Development Committee, and the RPAC Participation Council, and has served on Equal Opportunity and Cultural Diversity as well as Professional Standards and Risk Management. Lynn has been honored with two NAR Hall of Fame memberships â RPAC and REBAC.
At the state level, Lynn has served as Chair of the RPAC Fund Raising Committee, Professional Standards Committee, and GRI Board of Governors and has served as a member of the License Law Rewrite Task Force, License Law Scope & Structure Working Group, the Equal Opportunity Working Group, Education MIG as well as IARâs Strat Plan and Convention Committees. She is the author of over 20 continuing education classes in Illinois. She has also served on the state Continuing Education Task Force and the CE Curriculum and Instructor Development Subcommittees. As a member of the Illinois Agency Task Force Lynn has been instrumental in the creation and training of new agency policies.
Lynn is ITI certified, a member of the Real Estate Educators Association, was a National Educator of the Year award winner, has received the Educator of the Year award from AIREE, the Illinois real estate educator of the year and REALTORÂź of the Year honors from her local association in 2003 and was named the Illinois Association REALTORÂź of the Year for 2011.
Lynn's Credentials
2016 President Mainstreet Organization of REALTORSÂź, 18,000 MEMBER ASSOCIATION
2011 REALTORÂź of the Year â Illinois Association of REALTORSÂź
2003 REALTORÂź of the Year â Main Street Organization of REALTORSÂź
Speaker at the NAR Convention since 1993
REBAC Hall of Fame
RPAC Hall of Fame
Conducts over 250 continuing education seminars annually
NAR and REBI Certified to Teach:
ABRÂź
SFR
SRESÂź
SRS
RENE
PSA
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Welcome back, Friends! Our podcast has received another award from AVA Digital Awards, an international competition that recognizes excellence by creative professionals in the area of digital communication. We received a Gold Award for Podcast and Audio Production!
We have another amazing award-winning guest today! She has been recognized as an amazing instructor, having received the ABRÂź Hall of Fame Award, the REBI Distinguished Educator Award, REALTORÂź of the Year, and Educator of the Year, both from the Illinois Association of REALTORSÂź. She is one of the primary authors of the ABRÂź designation course and we are thrilled to have her back with us again. She was with us last year to talk about the changes in the industry and how to prepare for them. We will link to that episode in the show notes.
Today, we are going to dig in deeper with Lynn, specifically about ways to show your value to your clients. We must improve our skill in communicating what we do and how valuable our skills are to our clients. We have two episodes this month with Lynn, and I hope you can listen to both of them! They are worth your time!
[3:19] Build your value proposition; if you donât quantify what youâre doing, you donât know the value you bring to buyers.
[4:46] You need the client to know what you do for them. It is sometimes harder and more work to get a lower-priced transaction to the closing table. The average buyer doesnât know the value you bring if you havenât explained it to them.
[7:39] Lynn notes that âvalue propositionâ is sales language and people donât want to be sold, they want to buy a house. Tell the buyer about the value you bring them, not about your value proposition.[8:29] A contractor building a house has a standards sheet showing what is included and some optional upgrades. Lynn talks about using a Buyer Representation Agreement. Lynn makes sure the buyer understands the âbig bucketâ things she does for them.
[11:38] A weekly call with buyers keeps them updated on what you have done for them to help them buy a house. Lynn thinks we all should be doing that.
[13:46] Lynn tells buyers that not all available properties are on the internet and not all properties on the internet are available.
[14:03] If you donât consistently touch base with the buyer, they go out looking with other people. Stay in touch weekly with your buyers!
[16:59] Use your analytical tool in your MLS and communicate to your buyers what the market is doing. Lynn shares a recent example about pricing listings.
[18:34] Itâs hard for buyers to see we have an inventory shortage when the houses are everywhere. Unfortunately, in many cases, weâre not communicating this to our buyers.
[19:24] In your weekly call with your buyer, share data, such as the updated absorption rate. In the market niche youâre looking at, what went under contract this week?
[20:03] Lynn shares a story from her travels. Lynn shares more facts about the absorption rate or monthâs supply of inventory.
[24:36] You would have a license law problem and a code of ethics problem if you showed houses to someone in an exclusive contract to purchase with another brokerage company.[28:16] If something changes along the way, you may need multiple consultations.
[31:23] Sellers are now recording the agent and buyers going through their homes. So we have to be careful what we talk about. This is a relationship business. We build relationships in person.
[33:54] Some websites pull the new listing data in the middle of the night. That puts them almost 24 hours behind the MLSs. This happens in a counseling session.
[34:36] Lynnâs last word: âNAR has a website called Competition.realtor. On there find â105 Things that Buyer Agents Do for Their Buyer Clients.â
[35:20] It might help you to formulate your value proposition. Find out what youâre passionate about, that your buyers have benefitted from, and talk about that.
[38:05] Kudos for doing your best to get your clients the help they need and want. The Center for REALTORÂź Development offers excellent training and you can find live, live virtual, and online courses, designations, and micro-courses. Check out the ABRÂź offerings locally or at Learning.realtor.
Tweetables:
âYou go too long without talking to somebody and you canât figure out how to get yourself back on track.â â Lynn Madison
âNot all of the available properties are on the internet and not all of whatâs on the internet is available. We have stuff in the MLS that they donât see. Most MLSs do.â â Lynn Madison
âThis is a relationship business and itâs hard to build a relationship if all youâre ever doing is communicating with somebody via computer and texting.â â Lynn Madison
âI talk with my buyers a lot about my having at least 10 different ways to make their offer stronger in a multiple-offer situation.â â Lynn Madison
Guest Links:
Madisonseminars.com080: âTalking Buyers, Contracts, Value, and Fees with Lynn Madisonâ
NAR Resource Links
ABRÂźAdditional Links:
Microcourses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse!
Crdpodcast.REALTOR
Learning.REALTOR â for NAR Online Education
Training4RE.com â List of Classroom Courses from NAR and its affiliates
CRD.REALTOR â List of all courses offered
Host Information:
Monica Neubauer
Speaker/Podcaster/REALTORÂź
MonicaNeubauer.com
FranklinTNBlog.com
Monicaâs Facebook Page: Facebook.com/Monica.Neubauer
Instagram: Instagram.com/MonicaNeubauerSpeaks
Guest Bio
Lynn Madison
Lynn is the owner of Lynn Madison Seminars, a full-service training and development company devoted to the advancement of professionalism in real estate.
Formerly Lynn was Vice President and Director of Career Development for The Prudential Preferred Properties in Chicago, a 25 office firm with over 900 associates, where she authored and trained their New Agent Institute. Before that, she held the same position with First United REALTORSÂź, a local independent with 28 offices. She was manager of two different offices for First United. Prior to that, she was an award-winning salesperson â receiving their Salesperson of the Year honors.
Lynn speaks annually at the NAR conventions and is an ABRÂź, BPOR, GRI, SFR, SRESÂź, and SRS instructor and has conducted classes in over 30 states. Lynn's involvement with REBAC goes beyond instructing. She conducts the trainer recertification program for REBAC instructors annually and has authored or co-authored the SFR, ABRÂź and BPOR courses.
Lynn regularly conducts the New Member Orientation program for many of the associations in the Chicagoland area, as well as Professional Standards and Leadership training sessions for many state and local Associations. She is the Treasurer of Main Street Organization of REALTORSÂź her local 14,000+ member association.
At the National level, Lynn currently serves on the NAR Professional Development Committee, and the RPAC Participation Council, and has served on Equal Opportunity and Cultural Diversity as well as Professional Standards and Risk Management. Lynn has been honored with two NAR Hall of Fame memberships â RPAC and REBAC.
At the state level, Lynn has served as Chair of the RPAC Fund Raising Committee, Professional Standards Committee, GRI Board of Governors and has served as a member of the License Law Rewrite Task Force, License Law Scope & Structure Working Group, the Equal Opportunity Working Group, Education MIG as well as IARâs Strat Plan and Convention Committees. She is the author of over 20 continuing education classes in Illinois. She has also served on the state Continuing Education Task Force and the CE Curriculum and Instructor Development Subcommittees. As a member of the Illinois Agency Task Force Lynn has been instrumental in the creation and training of new agency policies.
Lynn is ITI certified, a member of the Real Estate Educators Association, was a National Educator of the Year award winner, has received the Educator of the Year award from AIREE, the Illinois real estate educator of the year and REALTORÂź of the Year honors from her local association in 2003 and was named the Illinois Association REALTORÂź of the Year for 2011.
Lynn's Credentials
â 2016 President Mainstreet Organization of REALTORSÂź, 18,000 MEMBER ASSOCIATION
â 2011 REALTORÂź of the Year â Illinois Association of REALTORSÂź
â 2003 REALTORÂź of the Year â Main Street Organization of REALTORSÂź
â Speaker at the NAR Convention since 1993
â REBAC Hall of Fame
â RPAC Hall of Fame
â Conducts over 250 continuing education seminars annually
â NAR and REBI Certified to Teach:
â ABRÂź
â SFR
â SRESÂź
â SRS
â RENE
â PSA
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Weâre back with our second episode of the month to talk about connecting with people so that you will have clients throughout 2024. We call it filling your pipeline. Many of us focus on getting business. If we can spend time connecting with people with purpose, there generally will be a more steady flow of clients throughout the year. Did you apply anything youâve learned from the first episode already? We would love to hear what worked for you! Our email address is in the show notes.
In this episode, we will look at the difference between online leads and live leads and a few marketing tips. Februaryâs guest is Janet Judd. Sheâs a 2022 ABRÂź Hall of Fame recipient, Missouri Real Estate Commissioner, former President of the Missouri Association of REALTORSÂź, and she has won a number of awards in the business. She is going to give you real actionable tips to help you fill your buyer pipeline for 2024.
[3:08] Excellent content on your site makes the difference. Janet gives some great recommendations.
[4:37] Janet hangs on to hits because they picked her. Respond promptly when they contact you. Janet suggests you host virtual tours and webinars on your site.
[7:08] Janet pays the website professionals for content, SEO, and marketing of her site.[10:25] Janet advertises in a neighborhood magazine to 55,000 homes a month. Thatâs generated a few calls that she puts in her pipeline to send a monthly postcard.
[16:47] When her leads start responding more conversationally to her texts or emails, Janet knows it's time to set up a phone call with them to slowly but surely reel them in.
[18:46] Make sure you have testimonials on your website. Ask your clients for a testimonial right at the closing.
[20:29] Janet is a worker bee. She volunteers and works hard. Active listening is one of Janetâs superpowers. If you can do that, it makes all the difference.
[22:13] Janet carries a wire-bound index card file in her purse to record notes about new contacts. For Janet, Top Producer is her âsecond brain.â Find your âsecond brainâ that creates a flow.
[31:30] Be a resource. It creates credibility, trust, and an emotional connection. People decide with their emotions. The educational approach is her focus, now.
[33:50] Iâm going to encourage our listeners to go back and listen to Part 1 of this conversation if they havenât already where Janet talks about her system of keeping up with leads and clients.
[34:55] Some states allow incentives or inducements, some do not. Check your state law before offering one.
[36:08] Some agents hold R.S.V.P.-only open houses as a security issue and let only one person come in at a time. Donât share your personal information online.
[38:08] Janetâs last word: âYou need consistent, excellent service to your existing clients. Thatâs whatâs going to keep you in the business. ⊠Whatever you do, autograph it with excellence.
[39:11] My favorite takeaway from Part 2 was the reminder that everything we do to improve our visibility will cost us time or money. What was your favorite tip from the 2nd episode? If you missed the first episode about great ways to connect with people in real-time, head back and hear Janetâs tips to get started.
[40:25] Weâre going to be having several months of episodes focusing on tools to help you communicate more clearly, set excellent expectations, and create great experiences. What classes are you planning to take to improve your business? Go to Learning.realtor to find lots of live, virtual, and online classes.
Join us in March for more ways to improve your business model and to think a little bit differently. Thanks for joining us! Make some calls, tighten up your system, go out there, and sell some houses!
Tweetables:
âYou also want to have a call to action on your website so that they know what to do. For me is just âCall JJ.â Call Janet Judd.â â Janet Judd
âI truly believe the old ways are coming back again. So print media could be coming back. So I started doing that.â â Janet Judd
âIt has to be âJanet-proof.â That means I canât break it, itâs easy to learn, itâs intuitive, I can get to it on my phone, and get that information that I need, right away ⊠before I call them, and get all those notes.â â Janet Judd
âIf I can get them on a phone call, I can usually get them.â â Janet Judd
Guest Links:
Jane Judd on LinkedInNARRPR.com REALTORÂź Property Resource
Slydial
American Greetings digital cards
Top ProducerÂź
NAR Library
Building a Second Brain: A Proven Method to Organize Your Digital Life and Unlock Your Creative Potential, by Tiago Forte
NAR Resource Links
NAR.realtor/technology
ABRÂźSRS
Additional Links:
Microcourses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse!
Crdpodcast.REALTOR
Learning.REALTOR â for NAR Online Education
Training4RE.com â List of Classroom Courses from NAR and its affiliates
CRD.REALTOR â List of all courses offered
Host Information:
Monica Neubauer
Speaker/Podcaster/REALTORÂź
MonicaNeubauer.com
FranklinTNBlog.com
Monicaâs Facebook Page: Facebook.com/Monica.Neubauer
Instagram: Instagram.com/MonicaNeubauerSpeaks
Guest Bio
Janet Judd
Former Police Officer. First female hired by a 55-man department in St. Louis County â in the early â80s. First female elected Class President at the St. Louis Police Academy. Thatâs why I teach the updated and revamped NAR REALTORÂź Safety Course via Zoom and in-person. 2022 Chair of NARâs Safety Advisory Council. Presented Safety Topic at the August 2021 Leadership Summit. First Hispanic to be elected President of Missouri REALTORSÂź and St. Louis REALTORSÂź. Missouri Real Estate Commissioner. 2023 Triple Play Instructor. 6000+ attendees from New York, New Jersey & Pennsylvania. NAR Appointee to the elite Professional Standards Advisory Council.
Janet Judd, CRS, CIPS, GRI, ABR, SRES, AHWD, RENE
RE/MAX Results Broker-Associate
2021 President Missouri REALTORSÂź
2016 Salesperson of the Year Missouri REALTORSÂź
2015 President St. Louis Association of REALTORSÂź
Hall of Fame Member RealtorsÂź Political Action Committee
RE/MAX International Hall of Fame
St. Louis Magazine 15-year Five-Star Award
Recipient For Client Customer Service
www.JanetJudd.com
-
How is your business growing and flowing right now? I hope you have a pipeline full of clients who are looking right now or planning to buy or sell in the next few months. We know, though, that hope is not a strategy. We need better tools than just hope to get our buyer pipelines filled. We know that a whole lot is happening in the real estate industry right now. We will be having several months of focusing on tools you can use to communicate more clearly, to set better expectations, and to create great experiences for you and your clients. Februaryâs guest is Janet Judd. Sheâs a 2022 ABRÂź Hall of Fame recipient, Missouri Real Estate Commissioner, former President of the Missouri Association of REALTORSÂź, and she has won a number of awards in the business. She is going to give you real actionable tips to help you fill your buyer pipeline for 2024.
As a reminder, this a two-part episode, with the second part coming later this month.
[3:17] Janet is a solo agent in Missouri who has been selling real estate full-time for 38 years. She loves what she does and has a servantâs heart for volunteering.
[5:42] You are the product when youâre meeting clients. They need to know that youâre engaging. You need to be credible and communicate to them the value of doing business with you.
[11:08] Janet discusses an app that letâs you call someoneâs voicemail when you canât chat.
[14:15] For Janet, a pipeline means knowing she will be able to have a buyer close on a property.
[15:00] Janet takes the most motivated ones out to show properties. She leads them along the pipeline with frequent contacts and suggestions.
[16:04] Janet has buyers in the pipeline for months. She keeps all her contacts in the loop so they donât run off with someone else. She gets them under a Buyer Agency Agreement as soon as she can.
[21:05] When buyers know what they want, itâs easier to define and find it. Then you have to hold their hand and make sure they stay patient while you do your job.
[22:00] Janet discusses the CRM she uses. She also keeps a file folder for every contact in the pipeline with notes. She goes through all the folders each day, making contacts as appropriate.
[27:10] Sometimes you lose an opportunity. Ask people who may be a year from buying how often they want you to contact them. Janet discusses how to motivate them.
[29:34] Janet invites people to sign a Buyer Agency Agreement at the first meeting. She writes the agreement for a year. Itâs a two-way commitment. Donât disappear from view.
[33:15] Janetâs last word: âI really just want you to understand the fact that youâre the product. Help them make that emotional decision to work with you and be excited about the opportunity to work with them and help a dream come true â the American Dream come true.â
[34:02] We will be continuing with great education to help you work more clearly and more intentionally with buyers. Join us every two weeks for new episodes and review the past episodes if you need help with specific topics. Thanks for joining us! Go out there, improve your system, and sell some property!
Tweetables:
âIâve been selling real estate full-time for 38 years. I donât have a team. Iâm a solo agent and I still love what I do and definitely have a servantâs heart for volunteering.â â Janet Judd
âBeing a buyerâs agent, youâve got to dance the way they want you to dance. Itâs on their schedule. When they call, youâve got to pop up!â â Janet Judd
âHelp buyers to make that emotional decision to work with you; be excited about the opportunity to work with them and help a dream come true â the American Dream come true.â â Janet Judd
Guest Links:
Janet Judd on LinkedInNARRPR.com REALTORÂź Property Resource
Slydial
American Greetings digital cards
Top ProducerÂź
NAR Library
NAR Resource Links
NAR.realtor/technology
ABRÂźSRS
Additional Links:
Microcourses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse!
Crdpodcast.REALTOR
Learning.REALTOR â for NAR Online Education
Training4RE.com â List of Classroom Courses from NAR and its affiliates
CRD.REALTOR â List of all courses offered
Host Information:
Monica Neubauer
Speaker/Podcaster/REALTORÂź
MonicaNeubauer.com
FranklinTNBlog.com
Monicaâs Facebook Page: Facebook.com/Monica.Neubauer
Instagram: Instagram.com/MonicaNeubauerSpeaks
Guest Bio
Janet Judd
Former Police Officer. First female hired by a 55-man department in St. Louis County â in the early â80s. First female elected Class President at the St. Louis Police Academy. Thatâs why I teach the updated and revamped NAR REALTORÂź Safety Course via Zoom and in-person. 2022 Chair of NARâs Safety Advisory Council. Presented Safety Topic at the August 2021 Leadership Summit. First Hispanic to be elected President of Missouri REALTORSÂź and St. Louis REALTORSÂź. Missouri Real Estate Commissioner. 2023 Triple Play Instructor. 6000+ attendees from New York, New Jersey & Pennsylvania. NAR Appointee to the elite Professional Standards Advisory Council.
Janet Judd, CRS, CIPS, GRI, ABR, SRES, AHWD, RENE
RE/MAX Results Broker-Associate
2021 President Missouri REALTORSÂź
2016 Salesperson of the Year Missouri REALTORSÂź
2015 President St. Louis Association of REALTORSÂź
Hall of Fame Member RealtorsÂź Political Action Committee
RE/MAX International Hall of Fame
St. Louis Magazine 15-year Five-Star Award
Recipient For Client Customer Service
www.JanetJudd.com
-
We are so glad you joined us to help you start your new year! This episodeâs guest is Matthew Rathbun. Matthew discusses business suggestions, strategies, and ideas to help you make your plans for success this year. This is Part 2 of the interview with Matthew on Business Planning. The first part was launched earlier this month. In this part 2 episode, Matthew leads us into a conversation about the people youâre partnering with in your business and gives some great suggestions when you consider the rhythm of work and home life. We would also love to hear your feedback on this new format with two parts and shorter episodes.
[2:30] Matthew urges you to choose your sellers and buyers carefully. Allot your time and attention to the right people.
[7:30] Matthew explains that you are alienating your market if you post what a great time it is to buy. It is a very different marketplace today with a different cost of living and a weaker job market than past markets.
[8:27] Whatever you post in a public forum, consider how it impacts your target audience. Tell them you understand their pain points and villains and you have the solutions to their problems.
[12:27] Matthew sits on the board of a housing non-profit. He had a recent conversation with a board member about the challenges people have coming up with the down payment.[13:40] Matthew recommends apps that can function as your Personal Knowledge Management System.
[16:49] Matthew discusses digital mind mapping and a powerful tool for this.
[18:01] Matthew does his business planning in October and November to get ready for January. Do it when itâs right for you.
[21:43] Do not trade your family for your career. Your career is alluring; everyoneâs feeding your ego. Itâs an ego-driven industry. What your spouse and kids think of you is eternal.
[30:21] Matthewâs last word: He has a business planning workbook that you can download on this site.
[31:15] Look for things like virtual assistants. Start budgeting; this market is going to create opportunities.
[31:55] The world is changing rapidly. There is going to be a lot of opportunity in the changes with the right mindset and the right plans.
[33:35] We hope you will consider taking the ABRÂź, the Accredited Buyerâs Representative designation, this year. You can learn more at learning.realtor.[34:02] We will be continuing with great education to help you work more clearly and more intentionally with buyers. Join us every two weeks for new episodes and review the past episodes if you need help with specific topics. Thanks for joining us! Go out there, improve your system, and sell some property!
Tweetables:
â[Use a] Personal Knowledge Management System. Our brains were designed for creating ideas, not for remembering things.â â Matthew Rathbun
âIt is not worth trading your family for this career. I have watched it happen way too many times.â â Matthew Rathbun
âI donât expect my family to support my career. I think thatâs a misalignment.â â Matthew Rathbun
Guest Links:
Matthew Rathbun on FacebookCanva Templates at Etsy.com
NARRPR.com REALTORÂź Property Resource
MyStorybrand.com
Apple Notes
Evernote
Getting Things Done: The Art of Stress-Free Productivity, by David Allen
Apple Freeform
MindMup
Cofftivity
MyOutDesk
Matthewrathbun.com/resources/
NAR Resource Links
NAR.realtor/technology
ABRÂźSRS
C-RETS class
Additional Links:
Microcourses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse!
Crdpodcast.REALTOR
Learning.REALTOR â for NAR Online Education
Training4RE.com â List of Classroom Courses from NAR and its affiliates
CRD.REALTOR â List of all courses offered
REBI
Host Information:
Monica Neubauer
Speaker/Podcaster/REALTORÂź
MonicaNeubauer.com
FranklinTNBlog.com
Monicaâs Facebook Page: Facebook.com/Monica.Neubauer
Instagram: Instagram.com/MonicaNeubauerSpeaks
Guest Bio
Matthew Rathbun
Iâm unapologetically me. I love learning and sharing what Iâve learned with anyone willing to listen. Itâs what Iâve done all of my life. Iâm a restless and demanding learner myself, so I focus on people in the audience who want advanced information, a little humor, and actionable information when they leave. If a learner attends one of my sessions, I feel honored to have them there and feel that I have a duty to ensure that the time they have given me will be valuable to them. I believe that every moment with learners should count.
I still work with clients and actually practice the skills and information that I deliver in each class. Iâm also a licensed broker in Virginia, DC, and Maryland and a licensed instructor in many states in the U.S. I am the Executive Vice President of a large multi-office firm in Virginia and oversee operations, risk management, and agent development among other things. Before becoming a broker, I was a high-performing agent and received a number of awards and accolades throughout the year including the Virginia Association Instructor of the Year, and was recognized by RISMedia Newsmaker Thought Leader in 2020.
My course offerings are pretty extensive and Iâm always happy to create unique content if itâs within my knowledge base. Iâm a certified CRS instructor and have contributed to or written various national certification and designation courses for RRC, REBAC, and REBI (all three NAR education institutes). My emphasis is on leadership development, technology, risk management, and advanced practice of real estate. I have a wide range of experience with risk reduction, including serving on the local, state, and national professional standards workgroups, MLS compliance committees, and various other industry opportunities that have given me broad exposure to what should be the best practices in the industry. I am an alumnus of the VAR Leadership Academy. As an author, I have contributed to many real estate industry magazines and online industry news venues.
A few accolades:
REBI National Distinguished Instructor of the Year 2021
CRS National Instructor of the Year 2020
Virginia Association of REALTORSÂź â Instructor of the Year 2007
RISMedia Newsmaker â 2020 Influencer
Virginia REALTORSÂź Graduate â Leadership Academy â 2007
Fredericksburg Assoc. of REALTORSÂź â Realtor of the Year 2020
Fredericksburg Assoc. of REALTORSÂź â Presidentâs Award 2010
Fredericksburg Assoc. of REALTORSÂź â Code of Ethics Award 2011
Fredericksburg Assoc. of REALTORSÂź â Rookie of the Year 2003
Fredericksburg Assoc. of REALTORSÂź â Honor âRoleâ
Fredericksburg Assoc. of REALTORSÂź â Production Awards
Coldwell Banker Recruiter Award â Virginia
-
We are so glad you joined us to help you start your new year! This episodeâs guest is Matthew Rathbun. Matthew will be discussing business suggestions, strategies, and ideas to help you make your plans for success in 2024. This is the first part of a series on Business Planning with Matthew this month. The second part will launch later this month.
[2:55] Matthew is the EVP of a Coldwell Banker company with 10 or 11 offices in the D.C.-Maryland-Virginia area.
[3:40] Matthew started teaching and has been teaching ever since. He is currently the president-elect for the Real Estate Business Institute, a good partner for CRD, providing lots of education to agents.
[4:20] There has been attrition in the industry. A lot of agents are not seeing a lot of production right now. When you plan for next year, you have to base it on reality.
[5:33] We are knowledge workers more than salespeople. The buyer hires you as a buyerâs agent for what you know. How do you provide clarity on your value as a buyerâs agent?[7:00] A knowledge worker will say, âI know the market, what my capabilities are, and what my consumer base is and Iâm going to build a strategic plan.â
[7:37] You can be a knowledge worker to your consumers and demonstrate that value to them. You can use your knowledge and say, âIâm the CEO of me.â
[9:21] What are we changing for 2024? Agents need to be much more precise with their goals to be able to look back and see what theyâve accomplished and why this is a good career for them.
[11:12] Matthew goes over tips and tools on how to interject your goals. Substantial industry changes are coming but most of our chaos is controllable.
[13:00] Youâre controlling whatever chaos you can. Putting systems in place is so important. âYou do not rise to the level of your goals, you fall to the level of your systems.â â James Clear
[15:48] With industry changes, Matthew says training will be a core part of any successful agentâs business.
[18:33]. Change is good. A bad change can be corrected to something better. Have a healthy mindset on addressing change. Lean into change and what it means.
[23:06] Itâs time to add to your listing kit and improve the buyer consultation kit on your website. Market your value proposition for buyers. Matthew discusses what to do in the next 30 to 90 days.
[25:45] Agents need a better consumer persona. Who do you want to work with? Just saying you want to work with sellers or with buyers is not focused enough to reach the core consumer that you want.
[30:18] Matthew cites Atomic Habits, by James Clear as the most transformative book. He recommends other books.
[32:50] Monica urges you to check the resources mentioned in this episode and Matthew Rathbunâs website linked in the notes. What education do you need to add to your life and business? The Center for REALTORÂź development highly recommends ABRÂź, The Accredited Buyerâs Representative designation.
Tweetables:
âThis is very much an industry where you get to eat what you kill. You hunt it. You kill it. Now you get to enjoy it, so to speak.â â Matthew Rathbun
âChange is good. Iâve always said change is good. Even if itâs bad change, itâs generally going to be corrected and lead to something thatâs better.â â Matthew Rathbun
âEvery successful CEO is a reader. Thatâs one of the common traits of all successful CEOs.â â Matthew Rathbun
Guest Links:
Matthew Rathbun on FacebookCanva Templates at Etsy.com
NARRPR.com REALTORÂź Property Resource
Building a StoryBrand: Clarify Your Message So Customers Will Listen, by Donald Miller
Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones, by James Clear
Building a Second Brain: A Proven Method to Organize Your Digital Life and Unlock Your Creative Potential, by Tiago Forte
Getting Things Done: The Art of Stress-Free Productivity, by David Allen
Canva.com
Alignment.io
Trello.com
MyStorybrand.com
Freeform â app for iPads and iPhones only
MindMup.com
Coffitivity.com
Matthewrathbun.com/resources/
NAR Resource Links
NAR.realtor/technology
ABRÂźSRS
Additional Links:
Microcourses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse!
Crdpodcast.REALTOR
Learning.REALTOR â for NAR Online Education
Training4RE.com â List of Classroom Courses from NAR and its affiliates
CRD.REALTOR â List of all courses offered
REBI
Host Information:
Monica Neubauer
Speaker/Podcaster/REALTORÂź
MonicaNeubauer.com
FranklinTNBlog.com
Monicaâs Facebook Page: Facebook.com/Monica.Neubauer
Instagram: Instagram.com/MonicaNeubauerSpeaks
Guest Bio
Matthew Rathbun
Iâm unapologetically me. I love learning and sharing what Iâve learned with anyone willing to listen. Itâs what Iâve done all of my life. Iâm a restless and demanding learner myself, so I focus on people in the audience who want advanced information, a little humor, and actionable information when they leave. If a learner attends one of my sessions, I feel honored to have them there and feel that I have a duty to ensure that the time they have given me will be valuable to them. I believe that every moment with learners should count.
I still work with clients and actually practice the skills and information that I deliver in each class. Iâm also a licensed broker in Virginia, DC, and Maryland and a licensed instructor in many states in the U.S. I am the Executive Vice President of a large multi-office firm in Virginia and oversee operations, risk management, and agent development among other things. Before becoming a broker, I was a high-performing agent and received a number of awards and accolades throughout the year including the Virginia Association Instructor of the Year, and was recognized by RISMedia Newsmaker Thought Leader in 2020.
My course offerings are pretty extensive and Iâm always happy to create unique content if itâs within my knowledge base. Iâm a certified CRS instructor and have contributed to or written various national certification and designation courses for RRC, REBAC, and REBI (all three NAR education institutes). My emphasis is on leadership development, technology, risk management, and advanced practice of real estate. I have a wide range of experience with risk reduction, including serving on the local, state, and national professional standards workgroups, MLS compliance committees, and various other industry opportunities that have given me broad exposure to what should be the best practices in the industry. I am an alumnus of the VAR Leadership Academy. As an author, I have contributed to many real estate industry magazines and online industry news venues.
A few accolades:
â REBI National Distinguished Instructor of the Year 2021
â CRS National Instructor of the Year 2020
â Virginia Association of REALTORSÂź â Instructor of the Year 2007
â RISMedia Newsmaker â 2020 Influencer
â Virginia REALTORSÂź Graduate â Leadership Academy â 2007
â Fredericksburg Assoc. of REALTORSÂź â Realtor of the Year 2020
â Fredericksburg Assoc. of REALTORSÂź â Presidentâs Award 2010
â Fredericksburg Assoc. of REALTORSÂź â Code of Ethics Award 2011
â Fredericksburg Assoc. of REALTORSÂź â Rookie of the Year 2003
â Fredericksburg Assoc. of REALTORSÂź â Honor âRoleâ
â Fredericksburg Assoc. of REALTORSÂź â Production Awards
â Coldwell Banker Recruiter Award â Virginia
-
This episodeâs guest is John LeTourneau. Our topic is real estate investing. The Center for REALTORÂź Development has a course that teaches this: Real Estate Investing: Building Wealth: Representing Investors and Becoming One Yourself. There is so much opportunity for you, our listeners, in this area. John is just opening the door of whatâs possible. Letâs find out more.
[2:42] John became a broker and a REALTORÂź in 2005.
[4:11] John started in residential but preferred B2B, so he worked as a non-REALTORÂź commercial broker for several years at a large commercial firm. John shares a prospecting story.
[6:50] John does volunteer work for his local, state, and national associations and public speaking and education in the U.S. and internationally. Every hour he gives comes back 10 or 20 times in satisfaction, wisdom, and knowledge.
[10:23] In commercial real estate, you are a product specialist and territorial generalist, or a territorial specialist and product generalist. Johnâs license allows these transactions: listing property, buying property, working with landlords, and working with tenants.
[11:22] John wants to reach the person who can spin off all four activities: a real estate investor. John can build a team and an income stream with that person.
[12:11] Johnâs specialty is helping people build multi-generational wealth through investment real estate. Through his connections, he can tap into local market resources around the country and find local knowledge.
[12:44] The IRS has a passive loss rule for full-time real estate professionals. Full-time real estate professionals can lose money on real estate. John describes additional tax advantages only for full-time real estate professionals.
[17:52] Your day-to-day brokerage activity will rarely be enough for you to retire. Start building sources of passive income. Figure out what it costs you to live every day and every year. Thatâs your freedom number!
[20:14] John believes that real estate, with its market advantages, in concert with a diversified portfolio of other things, is a phenomenal way to hit your freedom number.
[24:04] Johnâs real estate investment advice. In most cases, single-family homes are among the worst investments you can make. You have a lot of risk buttoned up in one tenant in your expensive property.
[31:33] John explains straight-line depreciation. When your rental cash flow surpasses the depreciation, it is a good time to sell. If the home is expensive, you can see if it qualifies for accelerated depreciation or cost segregation.
[36:41] Article 11 says you should not offer specialized services unless you have the skill set to do it. Refer it out or partner up with someone with that skill. Donât put your commission ahead of your client.
[39:03] John shares some NAR statistics about the time and cost of a residential real estate transaction in the United States.
[39:26] Getting a lead and making a referral of it in about 30 minutes and getting a referral percentage, is the best hourly rate you can make anywhere in the world.
[40:41] John describes a cycle of investments starting with residential, into industrial, then long-term net leases.
[43:14] The generational shift of wealth is where we as real estate professionals can consult in a great way.
[49:43] To get into commercial, coming from residential, the top-fourth of your database is in top positions in their businesses to give you referrals.
[50:27] John reviews the demographics of residential real estate agents contrasted with commercial real estate brokers.
[53:30] Spending time in commercial will limit the time you spend in residential, so your residential income will decrease before you see income from commercial real estate. If you partner with a local mentor, you can get business quickly.
[55:50] Invest early, invest often. Donât be the broker who dies broke. Please take advantage of all the things you have and invest in real estate. Build multi-generational wealth. The worldâs in front of you!
Tweetables:
âIn commercial, youâre either going to be a product specialist and a territorial generalist, âŠ. or youâre going to be a territorial specialist and a product generalist.â â John LeTourneau
âWhat does my license allow me to do? My license allows me to represent four basic transactions: listing property, buying property, working with landlords, or working with tenants. So, there are four primary ways to monetize my license.â â John LeTourneau
âThe number one indicator of success in commercial real estate is your ability and willingness to prospect consistently with people you donât know.â â John LeTourneau
âInvest early, invest often. Donât be the broker who dies broke. Please take advantage of all the things you have and invest in real estate. ⊠Build multi-generational wealth.â â John LeTourneau
Guest Links:
John LeTourneau on LinkedInBook recommendation: The Psychology of Money, by Morgan Housel
NAR Resource Links
NAR.realtor/technology
Real Estate Investing (REI)CRD Episode 057: Financial Planners, Insurance, and REALTORSÂź with Rich Arzaga
CCIM
IREM
Additional Links:
Microcourses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse!
Crdpodcast.REALTOR
Learning.REALTOR â for NAR Online Education
Training4RE.com â List of Classroom Courses from NAR and its affiliates
CRD.REALTOR â List of all courses offered
Host Information:
Monica Neubauer
Speaker/Podcaster/REALTORÂź
MonicaNeubauer.com
FranklinTNBlog.com
Monicaâs Facebook Page
Facebook.com/Monica.Neubauer
Instagram
Instagram.com/MonicaNeubauerSpeaks
Guest Bio
John LeTourneau is currently the KW Commercial Managing Director for the E to P Group of 9 offices in the Chicago area. In his role, John oversees the strategy implementation and daily operations of the KW Commercial brand, with a special focus on mid-market commercial properties in the Chicago region.
During his career, John has represented landlords, tenants, investors, owner-users, and sellers in all aspects of commercial real estate; and looks to use this experience to leverage the KW Commercial platform.
Mr. LeTourneauâs accomplishments include:â Member of the Board of Directors, Illinois REALTORSÂź
â Immediate Past President, Mainstreet Organization of REALTORSÂź
â Member of the Board of Directors, Mainstreet Organization of REALTORSÂź
â Member of the Commercial and Government Affairs Committees at Mainstreet
â Member of the Illinois REALTORSÂź Commercial/Industrial, Leadership Development, and Public Policy
Working Group
â Member of the National Association of REALTORSÂź Commercial Real Committee
â Overseas Member of the Institute of Professional Auctioneers & Valuers (IPAV),
Dublin, Ireland
â Illinois Consulate Liaison to the Republic of Ireland
â Illinois State Legislative Contact for Senator John Curran
â Approved Continuing Education Instructor in Illinois
â Approved Instructor for NAR and REBAC
â Carries the CIPS, e-PRO, ABR, CRS, SRS, PSA, RENE, C2EX, AHWD, and GRI
Designations/Certifications
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We are in a market that is now topsy-turvy. We are part of the major movements in the economy of our country and there are benefits and challenges in the flow of economics and of buying a home. Today, we are going to talk about a group of people who have had some tough times buying in recent years. Weâre talking about our active-duty military and our veterans who use VA Loans to purchase a home. Working with VA borrowers right now could be just what your business needs.
Jimmy Vercellino is our guest today. Heâs going to educate us about these loans and he is going to show us how we can serve our veterans well in the homebuying process.
[3:01] Jimmy discusses his background. He served in the military and now helps veterans.
[6:51] Jimmy, as a Marine veteran, shares a common language with the veteran and active-duty military homebuyers he serves. If you, a REALTORÂź, speak that language, you can better serve that client and thereâs instant trust, differentiating you from competitors.
[9:41] Getting veterans to learn about the benefits of VA Loans is the most important thing. The military doesnât teach this. The VA doesnât advertise it. Mortgage loan originators donât understand it.
[11:22] A veteran can get 100% financing. VA loans today no longer have a cap, as long as the veteran qualifies by income and credit. In addition, there is no PMI (private mortgage insurance).
[13:00] A veteran can use more than one VA Guaranteed Loan at a time, as long as they have enough entitlement. These features can help a veteran create wealth through real estate.
[20:09] A mortgage originator who dabbles in VA Guaranteed Home Loans hasnât been properly trained. They donât understand the nuances of the VA Home Loan Benefit. You want to work with somebody who has an in-depth understanding of VA Home Loan Benefits.
[23:15] The only time Jimmy doesnât recommend a veteran consider a VA Loan is when theyâre paying cash. He always wants veterans to have a VA Loan on the table as an option, so they can make an informed buying decision on whatâs best.
[24:46] Jimmy wants real estate pros to know that just because their client is putting 20% down does not mean they should use a conventional loan. Make sure that your client is getting all the options.
[26:28] On Jimmyâs YouTube channel, linked at the end of these show notes, Jimmy interviewed a VA appraiser. A VA appraiser is not an employee of the VA. The appraiser said no appraiser should ever change the home value based on the loan type.
[34:24] Va Guaranteed Loans are assumable. There is a lot of confusion that exists in this space. Two things have to happen to get a VA Loan assumed.
[40:13] Jimmyâs philosophy on providing value to military homebuyers is to ask them if they know the benefits of a VA Guaranteed Home Loan, listing them one by one.
[42:00] If your questions have provided value to the military member or veteran, chances are they will answer yes.
[47:35] The way real estate agents get paid is changing. At the same time, under current law, the veteran is not allowed to pay the REALTORÂźâs commission. It will take creativity to figure out win-win solutions.
[49:12] The Military Relocation Professional (MRP) Certification Course from NAR never expires. Jimmy Vercellino teaches the all-day course. Agents that have attended it felt like they were more equipped to speak the language of active-duty service members.
Tweetables:â[The relief of hearing your language in a foreign land] is the same thing that exists for veterans and active-duty service members when they have a REALTORÂź who speaks their language; somebody who understands BAH, BAS, COE, DD-214, EAS, all of these types of things.â â Jimmy Vercellino
âYou donât want a mortgage originator who dabbles in VA Loans. ⊠They havenât been properly trained and ⊠we donât want to subject our buyers or veterans to somebody who doesnât understand the VA Home Loan Benefit and, could delay your on-time arrival.â â Jimmy Vercellino
âThe only time I donât recommend a veteran consider a VA Loan is when theyâre putting down 100%.â â Jimmy Vercellino
âI tell my agents to be teachers; to bring the good word of VA Loans to veterans and active-duty military. As I said ⊠VA doesnât teach it, mortgage lenders donât understand it, therefore, veterans donât know it.â â Jimmy Vercellino
Guest Links:
Jimmy VercellinoVAloansforvets.com
Jimmy Vercellino on YouTube
Jimmy interviews Appraiser Jay Josephs on the VA Appraisal Process
Jimmy Vercellino on LinkedInEmail [email protected]
NAR Resource Links
NAR.realtor/technologyAdditional Links:
Microcourses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse!
Crdpodcast.REALTOR
Learning.REALTOR â for NAR Online Education
Training4RE.com â List of Classroom Courses from NAR and its affiliates
CRD.REALTOR â List of all courses offered
The MRP Certification Course from NAR
Host Information:
Monica Neubauer
Speaker/Podcaster/REALTORÂź
MonicaNeubauer.com
FranklinTNBlog.com
Monicaâs Facebook Page
Facebook.com/Monica.Neubauer
Instagram
Instagram.com/MonicaNeubauerSpeaks
Guest Bio
My name is Jimmy Vercellino, and I am a proud veteran of the United States Marine Corps and Operation Iraqi Freedom. I was born and raised in the San Francisco Bay Area, but at the age of 18, I made the decision to defend my country and leave home by enlisting. During my time in the Marine Corps, I traveled across the world visiting countries such as Japan, Korea, Thailand, Australia, and Singapore, and Fallujah, Iraq. I am a veteran of Operation Iraqi Freedom.
I met my beautiful wife Sylvia while stationed in Kaneohe Bay, Hawaii, and we decided to relocate to Arizona in 2005 and get into the mortgage industry. I had a hard time transitioning from military to mortgage. I devoted myself to the Veteran and active-duty home buyers and their families here in the Phoenix area. I went all in, I started educating real estate professionals and veterans about how the VA Home Loan Benefit works. Today, Iâm fortunate because I get to serve veterans all across this great nation. I lend in all 50 states. My mission was to serve all veterans and active-duty military as a trusted advisor for all their VA Home Loan financing needs. I have always had great love, respect, and admiration for veterans who have served the United States and I wanted to give back.
Now, I have risen as one of the countryâs top VA Home Loan mortgage originators. Being a licensed and certified instructor with the Arizona Department of Real Estate, I proudly teach continuing education for real estate professionals in the Valley. It is my passion to partner with servicemen and women every day to help them find the home of their dreams in the country they call home.
I now live in beautiful Phoenix, Arizona, and enjoy spending time with my wife Sylvia, daughter Sylvia Ann, and son Christian.
VAloansforvets.com
602-908-5849
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Today we are talking about a topic that we all need to pay attention to. Many of us donât like this part of our business. Our guest, Holly Mabery, is going to break it down to a simple plan for us to follow. Whatâs the topic? Marketing! Holly brings this huge concept to a manageable part of your business. She is also one of the subject matter experts for NARâs Marketing Strategy and Lead Generation course. Letâs join Holly for some great information on marketing and a few laughs about this potentially overwhelming topic!
[3:38] The most successful agents are the ones who show up with value and substance to their clients. Thatâs the key to building your business.
[4:00] Before selling a house, you have to figure out how to market yourself to get listings, how to market the listings, and then how to re-sell the house each time the buyer goes back to it. Clients will come to you because of how you show up and the consistency with which you show up.
[9:17] Holly coaches new agents to know the purchase contract better than anybody in the market.
[12:33] Holly discusses three things to help with marketing.
[22:02] If you spend a dollar, you should back that up in free ROI tenfold. If you canât do that, donât spend that dollar.
[24:08] Every time you earn a designation, like the Accredited Buyer Representative, put that certificate on LinkedIn and promote yourself. Every time you do an educational video put it on LinkedIn.
[24:55] Your phone is your second biggest tool, after your resume. Start using your phone!
[26:54] Do a quarterly e-newsletter with a calendar. Spotlight a specific business. Include one real estate stat.
[29:35] Google will let you send out 500 emails daily. Use MLS drip campaigns for targeted marketing. Look for opportunities to help people.
[35:01] Donât be overwhelmed by the number of platforms. Pick one to start and focus on using it for 30 days.
[36:36] If you can explain to your buyer or seller the ways they can get out of a contract, that builds trust.
[37:57] Ask for reviews. Ask people who loved you to talk about it. Rate My Agent is a great tool to use.
[43:47] Your value proposition is to earn the trust of your client and take care of their needs. Identify what job your client is hiring you to do while you treat everybody equally.
[53:07] Find your specialty; residential resale or new homes? Find that nuance. Where are you already showing up online? Accentuate that.
[55:35] Always be yourself! Be yourself authentically because people want to work with you. They want to refer you. If youâre anything but yourself, that will take more time, energy, and effort and burn you out faster. So always be yourself and show up in that way.
Tweetables:
âWhen you start to think of marketing, itâs huge, it's nuanced, and itâs layered. My best advice to everybody out there right now is to take a deep breath; inhale and exhale. Itâs going to be fine. You can do it. Find your niche and be authentically yourself.â â Holly Mabery
âShow up. One thing at a time. Learn your contract first. Period.â â Holly Mabery
âYou are the glue that puts the pieces together. [Your client] has all the pieces. You are the glue that pulls it together and helps them understand how it works.â â Holly Mabery
Guest Links:
Holly Mabery, VP of Operations at eXp RealtyeXprealty.com
Holly Mabery on LinkedInRate My Agent
Related Episodes:âLead Generation Through Relationships with Sean Carpenterâ
âThe Champlain Towers Collapse: What REALTORSÂź Can Learnâ
âWhat Are You Selling? How to Know Your Product and Communicate Your Expertise with Josh Cadillacâ
NAR Resource Links
NAR.realtor/technologyAdditional Links:
Microcourses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse!
Crdpodcast.REALTOR
Learning.REALTOR â for NAR Online Education
Training4RE.com â List of Classroom Courses from NAR and its affiliates
CRD.REALTOR â List of all courses offered
Host Information:Monica Neubauer
Speaker/Podcaster/REALTORÂź
MonicaNeubauer.com
FranklinTNBlog.com
Monicaâs Facebook PageFacebook.com/Monica.Neubauer
Instagram
Instagram.com/MonicaNeubauerSpeaks
Guest Bio
Holly Mabery brings a contagious enthusiasm for all things real estate. A full-time REALTORÂź since 1998, her passion for our industry led her to serve as the 2012 President of the Arizona Association of REALTORSÂź and she remains active on state & national committees. Holly is a VP of Brokerage Operations for eXp Realty and a former state-designated broker of Arizona supervising & training over 1800 agents. Holly is the Co-Creator of the Arizona REALTORSÂź Leadership Training Academy, a strategic planner, industry speaker, and instructor whose goal is to build strong communities with each transaction working with clients, REALTORSÂź, and associations.
Hollymabery.com
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Do you want to know about AI, and specifically, ChatGPT? Alex is here to tell you all about it! Alex is a true tech person with a teacherâs heart. He will explain some of the inner workings of Natural Language Programming, which is what ChatGPT is: language. There are layers to this, and more changes are coming; changes that will make using ChatGPT even easier. So, letâs get some tips and some education from Alex Camelio!
[2:36] Alex looks for technologies that change the way we do business. For example, the Snapchat and Reels trend of holding your phone upright to watch video was a small, fundamental change to video.
[4:31] When Alex sees fundamental changes in people adapting and working differently, thatâs when he starts thinking thereâs a revolution or a trend thatâs sticking around. He sees that with AI.
[6:10] In a few months, Alex will be at NAR for two sessions involving AI. He discusses the sessions.
[7:49] AI has limitations; it tends to lie or âhallucinateâ when it lacks information to draw from! If you donât give it good instructions and directions, it makes up something.
[10:40] Alex Camelio is the CEO of Agent Inner Circle (AIC), agentinnercircle.com, a free community of about 40,000 agents. AIC publishes free content and articles to help agents in marketing and business practices.
[11:06] Alex had taught himself to code and has been coding since he was 10 or 11. About 15 years ago, he started a tech company, Barcode Realty, and sold it to Lone Wolf.
[13:30] Alex believes that ChatGPT was a publicity stunt by OpenAI. OpenAI has been working on the Large Language Model (LLM) for years. Their mission statement is âMaking artificial intelligence available for the world.â
[18:25] ChatGPT learns over time. The apparent reason for the release of ChatGPT is to gather as much data as possible. It took off as a consumer product but is meant for the AI side of the world more than the consumer product side.
[19:47] Alex shares his thoughts on privacy. We carry an active listening device with us, day and night. If we want to go back to privacy we will need to make major cultural and government steps to protect it.
[22:18] OpenAI, the creator of ChatGPT has an API behind the scenes. An API allows your website and server to connect to ChatGPT and the data, and use the AI through your website instead of through the platform.
[23:18] An enterprise customer of OpenAI GPT has settings that allow them to change the creativity and other components of how the AI responds.
[29:25] Alex predicts it will become less complicated to use AI. Alex has been building a tool called ChatGuide that gives access to a lot of these features.
[35:18] Alex is setting up bots at ChatGuide that are cold-call teaching bots that pretend to be home sellers. You can chat with it and it will give you objections while you try to make a listing appointment.
[39:01] Think about ChatGPT as if you were bringing on an assistant. You would take time to train the assistant on what you want.
[45:38] CrystaKnows builds a DiSC profile on someone from social media. Itâs a sales tool for agents who want to speak in the personality language of the person theyâre talking to.
[52:45] Alex thanks Monica for having him on the show. He leaves you with a bit of philosophy. Will AI take your job?
[57:33] Donât get too distracted by all the shiny objects, because theyâre sure flying around, now! Your clients and friends are still out there, planning their lives, and youâre the one to help them at the perfect time. So, go talk to some folks and sell some properties!
Tweetables:
âI always look at technologies that will ⊠change the way weâre doing business in some form. ⊠In the last few years, there were ⊠Snapchat and Instagram Reels. The trend there was vertical video. ⊠Somebody said, âWe need to hold our phones upright.ââ â Alex Camelio
âAI can be very good at writing ⊠but it also has some limitations. ⊠If you just tell it to write something, it will commit Fair Housing violations, or it will make stuff up. ⊠It tends to lie or âhallucinateâ ⊠when it has a lack of information to draw from.â â Alex Camelio
âThink about [ChatGPT] like youâre bringing on an assistant. ⊠An assistant shows up on their first day to work for you. Are you going to be able to say, âWrite me a property description,â and then expect a perfect property description ⊠their first try?â â Alex Camelio
âThe prompt to make a good property description is probably going to be anywhere from two to four times the length of the property description. ⊠Think about it like youâre training an assistant. ⊠A brand new assistant comes into your office; they have no idea.â â Alex Camelio
Guest Links:
Alex Camelio, owner and founder of Agent Inner Circlehttps://agentinnercircle.com/
ChatGuide.ai (software referenced)Alex Camelio on LinkedIn
Chat GPT is at chat.openai.com
AIPRM
CrystalKnows
DiSC
NAR Resource Links
NAR.realtor/technologyAdditional Links:
JASPER
ZESTIMATES
Microcourses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse!
Crdpodcast.REALTOR
Learning.REALTOR â for NAR Online Education
Training4RE.com â List of Classroom Courses from NAR and its affiliates
CRD.REALTOR â List of all courses offered
Host Information:
Monica Neubauer
Speaker/Podcaster/REALTORÂź
MonicaNeubauer.com
FranklinTNBlog.com
Monicaâs Facebook Page
Facebook.com/Monica.Neubauer
Instagram
Instagram.com/MonicaNeubauerSpeaks
Guest Bio
Alex Camelio
Throughout his career, Alex Camelio has personally helped over 15,000 Agents and Brokers, including some of the Top REALTORSÂź in North America. His passion for marketing, technology, and business development has translated into more than a decade of cutting-edge contributions to the real estate industry.As the CEO of Agent Inner CircleÂź, a 40,000-member real estate agent community, Alex focuses on providing agents with education and actionable strategies to grow and optimize their business, ultimately building some of the most successful careers in real estate today. Alex is an internationally recognized educator whoâs shared his thoughtful and energetic presentations with various National Associations and industry organizations.
Prior to AIC, Alex was the Co-Founder and President at Barcode Realty, a company focused on bringing cutting-edge mobile technology to the real estate industry, which he later sold to Lone Wolf Technologies
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September is Safety Month at the NAR. We have a great episode with Andy Tolbert to help you stay aware and keep yourself safe as you do your job. I am so glad to have Andy Tolbert in this episode with me today. Andy lives in Florida, where sheâs a speaker, real estate investor, and safety professional! So, join us for this episode about safety while selling!
[1:17] September is NAR Safety Month. The dangers to real estate professionals seem to be increasing â or are we just knowing more about the dangers?
[2:17] Andy has been in real estate for 20-plus years. She is a Florida broker associate, a state-permitted instructor, and an instructor and member of the Florida REALTORSÂź faculty. She has trained loan officers and real estate investors and is a self-defense and firearms instructor.
[3:29] Andy and her husband have written a book called The Safer Agent. Itâs the real estate agentâs guide to make a ton of money and be safer doing it!
[4:54] Andy discusses her number one safety rule.
[5:37] Andy also teaches REALTORÂź Safety and body language to law enforcement officers in Florida.
[7:08] Andy shares information about why certain people were targeted. Prisoners who have been charged with attacks were asked this question.
[9:07] Andy discusses the fight-or-flight physiological response of your body to danger.
[13:39] Andy discusses the four levels of awareness.
[14:37] Deciding where you need to be on that level of awareness scale involves three things: Where you are, whom you are with, and what you are doing.
[17:07] Andy says you need to train yourself not to ignore your gut feeling.
[20:58] Andy always tells her classes that sheâs using the pronoun âheâ, but it could be âshe,â a child, an old person, or an animal that is used to get you to drop your guard.
[26:33] Andy discusses the steps to take before you show a house.
[40:28] How do you keep safe when entering a damaged home, such as from flooding or fire? Make sure it has first been officially inspected and found safe to enter.
[44:02] Facebook Marketplace is starting to have scams.
[51:21] Andy bought a property in mountain country. She discusses that going to a rural property is a big commitment.
[53:04] A lot of people donât realize how serious a matter REALTORÂź safety is. According to the Bureau of Labor Statistics, in an average year, more than 50 real estate professionals die on the job for all reasons.
[54:16] If you are a broker, Andy stresses that you bring safety standards and training into your office and be serious about it. Donât just make it a page in your new agentâs manual.
[58:39] So, what was your takeaway thought? This may be a great episode to take to your broker to open or continue the safety conversation in your office.
[59:14] Please review your personal and office safety policy this month. It is Safety Month, so be thinking of safety this month and all the time!
[59:32] At Learning.REALTOR, the Center for REALTORÂź Development offers a whole webinar series on safety for your benefit and you can use those if you need to develop a new policy. We want you to be safe.
Tweetables:
âTheyâve gone into prison, and theyâve interviewed guys that are in prison for attacking people on the streets and they've said, âWhy did you pick the person you picked?â And the answer is, âBecause they weren't paying attention.ââ â Andy Tolbert
âIâm never going to blame you for being a victim of something. However, letâs look back at the situation. Was there something you could have done differently that wouldnât have made you a victim today? Usually, thereâs something you could have done differently.â â Andy Tolbert
âIf you are a broker and youâre listening to this, I want to super-duper stress to bring safety standards into your office. Bring safety training into your office. And be serious about it!â â Andy Tolbert
Guest Links:
Andy Tolbert on LinkedIn
The Safer Agent: The Real Estate Professional's Guide to Protecting Themselves & Their Customers, by Andy Tolbert
NAR Resource Links
NAR.realtor/technologyNAR Safety Webinar Series
â074: REALTORÂź Safety Tips with Tracey Hawkinsâ
â044: Safety Tips for REALTORSÂź with Donny Allenâ
Additional Links:
FOREWARNÂź
Microcourses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse!
Crdpodcast.REALTOR
Learning.REALTOR â for NAR Online Education
Training4RE.com â List of Classroom Courses from NAR and its affiliates
CRD.REALTOR â List of all courses offered
Host Information:
Monica Neubauer
Speaker/Podcaster/REALTORÂź
MonicaNeubauer.com
FranklinTNBlog.com
Monicaâs Facebook Page
Facebook.com/Monica.Neubauer
Instagram
Instagram.com/MonicaNeubauerSpeaks
Guest Bio
Andy Tolbert
Andy has been in real estate for 20-plus years. She is a Florida broker associate, a state-permitted instructor, and an instructor and member of the Florida REALTORSÂź faculty. She has trained loan officers and real estate investors and is a self-defense and firearms instructor. About ten years ago, she was asked to bring safety training to the real estate world. She is now a real estate safety professional.
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In this episode, we are talking about emerging technology. Dan Weisman and Dave Conroy work at NAR and are sharing with us their knowledge about technology in the real estate industry. Weâre talking AI â yes, we all love ChatGPT â Chatbots, Fractional real estate, and what they see for the future of cryptocurrency. They have some software suggestions and usage tips for us as well. So, join us for this informative episode!
[2:31] Dan Weisman and Dave Conroy are the Directors of Emerging Technology at NAR.
[3:51] If agents do not feel they are able to keep up with emerging technologies, Dan encourages them not to feel bad. Even Dave feels on some days itâs like drinking from a firehose and keeping up with emerging technology is his full-time job.
[5:05] Proptech is any form of property technology. Dan and Dave also look at the adjacent industries of construction tech, financial tech (fintech), insurance tech, and mortgage tech.
[6:59] There is no shortage of data to feed proptech tools to help agents get a better understanding of their market and customers and complete more transactions.
[8:49] Dave explains the amount of data over the past 10 years has grown exponentially. Ninety percent of our data was created in the last 10 or so years.[10:59] Some companies are backed by NAR, Second Century Ventures, and Reach. Plunk is one of them. Theyâve got an AI-powered valuation model that digs into MLS showing data.
[15:09] Dan discusses AI products he and Dave have been researching for years similar to ChatGPT.
[16:37] When you log into Amazon, it offers things you might be interested in, whether or not you have been thinking of it. Thatâs AI based on your habits, predicting your next move.
[18:22] ChatGPT feels like having a human-level intelligent personal assistant to answer questions about anything; how to write an email, recipes, and no shortage of help for REALTORSÂź.
[21:16] There will still need to be a person involved with the end product to make sure itâs written as you want it, the information is the way you want it to be displayed, and that itâs accurate.
[22:32] Monica points out that CRD is teaching classes on applying ChatGPT.
[24:53] ChatGPT is powerful but make sure you understand what problems or what areas youâre trying to be better at to increase your revenue, increase your business and provide better service.
[25:36] If Dave were recommending to a REALTORÂź how to incorporate one of these large language models, Bard or ChatGPT, into their workflow, he would suggest they use it as a creative muse.
[27:03] Dan discusses image generation.
[30:54] Dan and Dave discuss ways to keep in touch and to join their monthly proptech meetups.
[33:56] Cryptocurrency has disappointed Dave who was bullish on it early. Make sure the tech youâre looking at isnât a solution looking for a problem.
[38:03] Fractional real estate or fractional ownership of properties isnât new, but there are new ways to get access to it.
[44:45] Global funding for technology is down. What does that mean for the United States agents?
[48:48] Automated listings use AI to analyze listing photos to help assist agents in creating listings.
[50:32] Some of the changes coming to real estate may require agents to be much more efficient. Agents can improve their efficiency with some of the AI tools discussed in this episode.
[57:46] There are lots of basics in our industry that are about people and relationships, and theyâre based on that relationship. Technology is a tool to help us, not remove us from our clientsâ lives.
[58:19] You can follow up with Dan and Dave on LinkedIn to learn more. If you want to expand your tech knowledge, NAR also offers the e-PROÂź certification.
Tweetables:
âYou need to also know that itâs still a machine that was trained by someone thatâs pulling data from somewhere. ⊠Itâs like 90% accurate. Thereâs still that 10%, which can get you in a lot of trouble sometimes. ⊠Test it out but ⊠verify everything.â â Dan Weisman
âI would suggest that you just use [ChatGPT] as a muse; like a creative muse. ⊠It helps me get from zero to one. I feel like if I can just get started with something, finishing it is so much easier.â â Dave Conroy
âHow we operate has changed, and most of it is due to technology. It can be overwhelming but whatâs most important is to understand the problem youâre trying to solve and what technology may be out there to help you solve it or at least be better at it.â â Dan Weisman
âPeople will try a new piece of technology and it doesnât work right out of the box, so they dismiss it. I would urge your listeners, please donât dismiss technology because it can be very hard to predict how quickly the technology will advance and be adopted.â â Dave Conroy
Guest Links:
Dan Weisman at NAR
Dan Weisman on LinkedIn
Dave Conroy at NAR
Dave Conroy on LinkedIn
ChatGPT
Dall-E 2
GetPlunk.com
Generative AI
Flock
Fractional
Summer
ListAssist
Emerging Technology with NAR
iOi Summit
Meetup.com/proptech
NAR Resource Links
NAR.realtor/technologyAdditional Links:
Microcourses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse!
Crdpodcast.REALTOR
Learning.REALTOR â for NAR Online Education
Training4RE.com â List of Classroom Courses from NAR and its affiliates
CRD.REALTOR â List of all courses offered
Host Information:
Monica Neubauer
Speaker/Podcaster/REALTORÂź
MonicaNeubauer.com
FranklinTNBlog.com
Monicaâs Facebook Page
Facebook.com/Monica.Neubauer
Instagram
Instagram.com/MonicaNeubauerSpeaks
Guest Bio
Dan Weisman
Dan Weisman is a Director of Emerging Technology within the Strategic Business, Innovation & Technology group at the National Association of REALTORSÂź. In his role, he focuses on how the intersection of business processes and technology may impact the real estate industry.
Dave Conroy
Dave Conroy is a Director of Emerging Technology within the Strategic Business, Innovation & Technology group at the National Association of REALTORSÂź -
Everyone is adapting to the technology they need, in their work and life. We want you to have the best tools that will benefit you and your clients. In this episode, Ali Whitley discusses working with our mature clients. The Seniors Real Estate SpecialistÂź Designation (SRESÂź) is an amazing class that the Center for REALTORÂź Development offers. This class discusses things you need to know. We discuss the technicalities of senior living, reverse mortgages, estates, taxes, and more. We also discuss helping our mature clients get established in communities and be connected in the ways that help them best. Thanks for joining us!
[2:22] Ali is an educator and loves all things education. She is happy to be the chair of the Emerging Business and Technology Forum for NAR this year.
[4:56] A person of the same age could have a very different lifestyle than another person. It depends on your activity and health and your ability to be active.
[8:16] Ali talks with clients about their interests. She finds out their activity level and the things they like to do.
[9:07] Art museums, libraries, and different types of opportunities in your community may have senior or 50-plus programs. When you get plugged into something, you find more to do. Do pre-work and find links for your clients to find their way.
[10:39] If we have things available for someone and we can start to identify it for them, their interests and their ability to meet people is going to âexplode,â so theyâll be able to be connected in their communities.
[10:59] The Seniors Real Estate Specialist designation covers three generations: Gen X, Boomers, and the Silent Generation. These generations have different characteristics. They are very diverse in technology.
[11:59] As real estate professionals, we help clients across any technology abilities, know where they are, and meet them there, encouraging them to use technology in their transactions and their lives.
[12:20] Stereotypes are helpful for some conversations but don't ever over-assume things. Ali sees different generations using technology differently.
[13:36] Video chats and social media are useful for people to keep that connection and feel that theyâre in the know with their community and their family.
[15:18] Ali sees older people using video doorbells to keep an eye on whoâs coming up on their porch and when theyâre getting deliveries and having visitors. Theyâre using health trackers and video medical appointments.
[16:52] When Monicaâs parents find something that satisfies a need that they have determined, like their Ring doorbell, they are thrilled to have the technology. But they still donât want âall of that technology.â
[20:15] We need to talk with our clients and learn their communication preferences.
[20:40] Our young clients donât want to talk on the phone but our older clients want to talk on the phone and see us in person. This is a relationship-building business. We need to build the relationship in a way that the client is comfortable.
[26:19] There are all sorts of opportunities to use technology to make connections but face-to-face or voice-to-voice are important for people to feel connected.
[26:39] Ali is the chair of the Emerging Business and Technology Forum that works with the REACH program. The REACH program comes out of Second Century Ventures, the strategic investment arm of the National Association of REALTORSÂź.
[28:08] NAR chooses both REACH commercial and residential companies for technology that may be utilized in homes or businesses. Ali recommends some digital technology clients can use.
[32:40] Ali suggests looking at the REACH program and Second Century Ventures to see all the REACH programs and classes.
[34:58] The Seniors Real Estate Specialist is one of many excellent offerings and you can find out more at Learning.REALTOR.
Tweetables:
âA person of the same age could be in a very different lifestyle than another person. It really depends on your activity level, your health level; how you really feel about yourself, and your ability to have activity.â â Ali Whitley
âMaybe someone had a real interest in something particular and their job took them in a different direction. Now, as theyâre retiring, they can start to take those classes that they thought that they would enjoy.â â Ali Whitley
âAs REALTORSÂź, we need to help clients across any technology abilities and we need to know where they are and meet them there and see if we can help to encourage new technology within their transactions.â â Ali Whitley
âThey can see your smiling face on the video or they get to meet you in person and they get a feel for who you are, and then later, if ⊠youâre sending a text, or youâre sending something through email, now they can put your face to it.â â Ali Whitley
Guest Links:
Ali Whitley, REALTORÂź
ABR, CIPS, CRS, GRI, SRES, SRS, AHWD, e-PRO, PSA, RENE, RSPS, SFR, C2EX Endorsed
RE/MAX CrossroadsAliwhitley.com
Prisid.io
REACH
Second Century Ventures
REACH Program Companies
nar.realtor/newsroom/second-century-ventures-announces-14-companies-for-2023-reach-scale-up-program
NAR Resource Links
Seniors Real Estate SpecialistÂź (SRESÂź)NAR NXT, The REALTORÂź Experience
Additional Links:
Microcourses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse!
Crdpodcast.REALTOR
Learning.REALTOR â for NAR Online Education
Training4RE.com â List of Classroom Courses from NAR and its affiliates
CRD.REALTOR â List of all courses offered
Host Information:
Monica Neubauer
Speaker/Podcaster/REALTORÂź
MonicaNeubauer.com
FranklinTNBlog.com
Monicaâs Facebook Page
Facebook.com/Monica.Neubauer
Instagram
Instagram.com/MonicaNeubauerSpeaks
Guest Bio
Ali Whitley
Ali Whitley is an active Residential Real Estate Agent and Director of Education at RE/MAX Crossroads. In addition to guiding buyer and seller clients through successful transactions, Ali is passionate about professional development and education. A skilled negotiator and experienced REALTORÂź for over 26 years, she shares this expertise and empowers fellow agents as an educator and mentor, and as an instructor of Designations and Certifications. Ali is active in local, state, and national REALTORÂź Associations, currently serving as President-Elect of Ohio REALTORSÂź, NAR Director and Chair of the Emerging Business and Technology Forum. She has been recognized as AABOR REALTORÂź of the Year and as a âWoman of Noteâ by Crainâs Cleveland Business. Ali is committed to excellence, fostering an inclusive environment focused on sharing strategies for growth and success
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In this bonus episode, we are joined by a member of the NAR staff, Alexia Smokler, a staff executive to NARâs Fair Housing Policy Committee. That description does not begin to convey all the work that she does on our behalf and on behalf of the clients we serve. She has been key in developing the Bias Override class and Fairhaven.realtor. We are excited to discuss the programs she manages as well as learn what agents are doing in the marketplace, in this bonus episode!
[1:40] Monica welcomes and introduces Alexia Smokler, the Director of Fair Housing Policy and Programs for NAR.
[2:19] Alexia discusses several of the educational programs she delivers such as Fairhaven, implicit bias training, NARâs Fair Housing Champion award, and licensure reform efforts under the ACT Initiative, which NAR rolled out after the Newsday investigation in Long Island.
[3:52] Monica asks Alexia for definitions of Fair Housing, DEI, and Implicit Bias.
[8:18] Alexia discusses the difference between prejudice and discrimination.
[8:50] Itâs important to distinguish that you can be engaging in discrimination without holding feelings of prejudice. This is discussed in the Implicit Bias course.
[13:06] Alexia describes the Bias Override course. The problem with mental shortcuts is when theyâre about people and theyâre based on stereotypes.
[16:57] The Bias Override course brings new terms to your mind. It helps you describe things you have felt and gives a name to it. Monica speaks of the trip she and her daughter took to Japan where there are not a lot of Westerners.
[19:02] Alexia ties Monicaâs Japan experience to the Bias Override course. She had the experience of being the minority and being the out-group.
[20:53] Alexia speaks of studies that show that discrimination shrinks the economy. The wealth they would have generated that would have created more jobs does not get created.
[21:56] Morgan Stanleyâs study found that lending discrimination had kept five million people out of home ownership nationwide.
[25:03] The wealth gap is not just attributable to differences in income. Itâs also because of the historical support of White people to become homeowners.
[25:48] Alexia tells how the government involved itself in home ownership. They created the FHA which distributed loans according to redlining maps and most of the mortgages went to White people.
[26:54] Black GIs were not able to get mortgages from lenders. They didnât get to buy a house and pass that wealth down.
[28:53] Lending discrimination is a big problem and itâs not just against People of Color. Itâs also against women and people with disabilities. Loan officers need more Fair Housing training. Monica cites the books The Sum of Us and The Color of Law.
[31:30] In a couple of decades, weâll be a majority-minority country. There will be no one majority group. We need to be ready to serve different kinds of people or we will miss out.
[32:56] Fairhaven.realtor is an interactive real estate simulation. You go into a fictional town and your task is to sell four homes in six months. You go through different scenarios where you encounter different kinds of discrimination taken from real Fair Housing cases or membersâ FAQs.
[43:09] The Fair Housing Champion Award was launched as part of the culture change around Fair Housing to celebrate people who are helping clients overcome historic barriers. Alexia discusses one applicant who stood out.
[49:28] Alexiaâs final word: What agents do is much more important than a transaction. Itâs about the wealth thatâs generated from a transaction that will impact generations.
[50:37] The minimum that agents can do is to keep the highest standard of compliance with the law and take training and classes. Alexia offers ideas on how to help make it better in your community.
[53:04] All NAR certification and designation courses give you skills that help you level up your business so you can serve all your clients and your community better.
Tweetables:
âDEI supports Fair Housing. So, if weâre inclusive, if weâre diverse, and if weâre open to different perspectives, then it naturally follows that weâre going to treat consumers better because we have that lens on how we approach everybody.â â Alexia Smokler
âOnce you start making those assumptions, youâre down a dangerous road.â â Alexia Smokler
âBlack folks earn 60% of the income that White people earn. But they have only about 12% of the wealth. ⊠The average wealth of a White person [with] a high school education is higher than the wealth of a Black or Hispanic person who has a college education.â â Alexia Smokler
âLoan officers need more Fair Housing training.â â Alexia Smokler
Guest Links:
Alexia Smokler
Fair Housing Champions: https://www.nar.realtor/fair-housing/fair-housing-champion-award
Bias Override Class: https://www.nar.realtor/fair-housing/bias-override-overcoming-barriers-to-fair-housing
The Sum of Us: What Racism Costs Everyone and How We Can Prosper Together, by Heather McGhee
The Color of Law: A Forgotten History of How Our Government Segregated America, by Richard Rothstein
Long Island Divided
NAR Resource Links
At Home With DiversityÂźBias Override Class
Fairhaven.REALTOR
NARâs ACT! initiative
Additional Links:
Microcourses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse!
Crdpodcast.realtor
Learning.REALTOR â for NAR Online Education
Training4RE.com â List of Classroom Courses from NAR and its affiliates
CRD.Realtor â List of all courses offered
Host Information:
Monica Neubauer
Speaker/Podcaster/REALTORÂź
MonicaNeubauer.com
FranklinTNBlog.com
Monicaâs Facebook Page
Facebook.com/Monica.Neubauer
Instagram
Instagram.com/MonicaNeubauerSpeaks
Guest Bio
Alexia Smokler
Alexia Smokler represents NARâs positions on Fair Housing to Congress and federal agencies and leads NARâs ACT! initiative, which emphasizes Accountability, Culture Change, and Training to advance fair housing in the industry. She led the development of Fairhaven: A Fair Housing Simulation, and Bias Override: Overcoming Barriers to Fair Housing. Alexia also oversees NARâs discrimination self-testing program for real estate brokerages, NARâs fair housing real estate licensure reform efforts, and other projects aimed at closing racial and ethnic homeownership gaps. Alexia serves as staff executive to NARâs Fair Housing Policy Committee and writes and speaks regularly on fair housing issues to audiences around the country. Her 2021 cover story for REALTORÂź Magazine, Repairers of the Breach, won several awards for excellence in business-to-business journalism.
Before joining NAR, Alexia worked in fair housing enforcement at HUD, on the staff of Congressman John Conyers, Jr., and with nonprofit civil rights organizations. She is admitted to practice law in Maryland and holds a law degree from the University of California, Berkeley, School of Law; a master's degree in public affairs from Princeton Universityâs School of Public and International Affairs; and a bachelorâs degree in government from Smith College. She lives in Alexandria, Virginia.
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In this episode, we are joined by Mandy Neat who is going to discuss commonalities in homebuying trends with Generation Y (Millennials) and Generation Z. With significant cultural changes happening at increasingly fast speeds, we see notable differences in these generations. While we never want to generalize, there are some markers with these generations that can help us understand our clients better. In this episode, we learn more about these generations and how we can manage their expectations with preparation and communication. We want to help you be able to help them!
[5:20] Mandy discusses the different generations. She brings up a conversation with a Gen Z about what he would want in a house.
[7:33] Gen Y is the next largest home-buying group after Baby Boomers.
[11:06] Mandy sees that people are not going right to college from high school. They see housing as an asset. Some are buying investment properties.
[15:46] Younger Millennials are becoming first-time home buyers. They are trying to pay off their student debt, while Gen Z is avoiding going into student debt.
[18:55] COVID-19 changed house-buying habits. At the beginning of COVID-19, Younger Millennials and Gen Z-ers jumped into the market without fear.
[21:48] Gen Y and Gen Z want everything to be easy to understand. Home buying is potentially complicated and may take time. Mandy discusses the Consumer Financial Protection Bureau (CFPB) as a resource.
[27:55] Younger people go to an app on their phone to get information. Real estate professionals need to get in front of technology trends.
[30:11] Mandy talks about DPA (Down Payment Assistance) which can help clients buy a house. She also discusses knowing your Confirming Loan Limit.
[34:44] Mandy shares that a lot of Gen Z-ers are using family gifts. There are All-In-One Loans where the home buyer can set up a GoFundMe account to be applied toward a down payment. Lenders are coming out with products to help young borrowers.
[37:11] TikTok and YouTube make everything look so easy when it comes to home updates. People are opening their minds as to what is possible.
[41:12] Mandy is seeing more people buying homes with spaces to work from home and have a social life at home. There is a lot of openness in floor plans.
[44:19] Millennials care more about walkable city living rather than their apartment. Gen Z-ers are buying out of the city in more affordable growing areas.
[47:35] Mandy comments on what she observed recently in Wichita, Kansas, with a community full of Gen Z-ers, built around diversity.
[51:56] Mandy hopes that all generations will allow Gen Z and the younger Millennials to get in the conversation of infrastructures, jobs and how to make a difference.
[52:40] If you enjoyed this episode, there are classes you can take to enhance your knowledge: ABRÂź (Accredited Buyerâs Representation), and the Buyers by Generation: Success in Every Segment course.
Tweetables:
âItâs just how their brains are wired. They have so much information. At 18, thereâs no reason not to go out and purchase, instead of paying all this tuition money, and build your legacy for your wealth in the future. Itâs an amazing generation.â â Mandy Neat
âWe need good loan officers. We need to empower the mortgage industry to take time with people ⊠and show them the numbers ⊠and ⊠professionals in the real estate community that are willing to ⊠go over it with them to make sure all their questions are answered.â â Mandy Neat
âYou can obtain a Down Payment Assistance Program and offset your down payment. Try to negotiate closing costs with the seller. You can come in with a minimal amount and own a half-a-million-dollar asset. What other country can you do that in?â â Mandy Neat
âGen Z and Millennials have this great thing where lenders are coming out with products to help them collect money to buy a house.â â Mandy Neat
Guest Links:
Mandy Neat, REALTORÂź
Deputy Commissioner, Arizona Department of Real Estate
Mandy Neat
Mandy Neat at Realty One
Arizona Association of REALTORSÂź
WeSERV
Consumer Financial Protection Bureau (CFPB)
Foreign Investment in Real Property Tax Act (FIRPTA)
NAR Resource Links
The ABR DesignationThe CIPS Designation
Buyers by Generation
Additional Links:
Micro courses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse!
Crdpodcast.realtor
Learning.REALTOR - for NAR Online Education
Training4RE.com â List of Classroom Courses from NAR and its affiliates
CRD.Realtor - List of all courses offered
If this conversation has helped you realize that perhaps more conversation about generations would be helpful, there are classes you can take: the ABRÂź and an elective, Buyers by Generation: Success in Every Segment. crd.realtor
Host Information:
Monica Neubauer
Speaker/Podcaster/REALTORÂź
MonicaNeubauer.com
FranklinTNBlog.com
Monicaâs Facebook Page
Facebook.com/Monica.Neubauer
Instagram
Instagram.com/MonicaNeubauerSpeaks
Guest Bio
Mandy Neat
Mandy Neat is the 2023 Treasurer for the Arizona Association of REALTORSÂź. She serves on committees and as a member of the board of directors for the local association WeSERV, which is the West and Southeast REALTORSÂź of the Valley, where she is also a Past President. She serves with the Arizona Association of REALTORSÂź and the National Association of REALTORSÂź. She obtained her license in 2004 and has continued to serve her community as an advocate for home ownership as well as assisting other professionals to succeed. She truly believes in her value statement of making you matter. As a current managing broker of Realty One Group, she puts her agentsâ needs and their clients first, daily.
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Our guest for this episode is a long-time REALTORÂź, trainer, and world traveler. Do you have a dream to travel somewhere? Is there a place that you already love in the world? For example, have you been to Cabo San Lucas eight times? Wouldnât it be great if you could be a connector with buyers and sellers with agents in Mexico? In the Caribbean? In Europe? In Asia? You can do that with your favorite areas in the U.S. and the world! In this podcast, Ginni Field talks about selling real estate and expanding your business in new ways. We also talk about international buyers and sellers in the United States with a focus on the Certified International Property Specialist (CIPS) designation. Join us on this podcast and expand your vision beyond your local area.
[6:10] Monica asks the audience to stick with this episode to hear the interesting stories Ginni and Monica will share with consideration for the huge and growing influx of international immigrants, residents, and investors.
[7:53] Ginni discusses what she learned from experiences in France, Belgium, Luxembourg, Spain, Portugal, and Germany.
[11:56] When traveling the world, you have the opportunity to visit small towns and explore their history. Find people in your community from these areas and connect with them. You may be able to help them buy a home.
[14:14] In most of the world, business is based so much on relationships. In America, relationships are huge and you need that network, but overseas, relationships are crucial.
[15:18] In the Americas, the process of buying a home is a family affair. If they donât know you, theyâre not doing anything with you. When they know you and begin to trust you, business happens.
[17:36] Where Ginni was teaching, there were good universities and schools everywhere, providing a place to build your business.
[18:08] Find your niche and get connected to it. Be a part of those market areas and people. What businesses bring people into your market area, that hire people from other countries?
[18:34] Foreign resident buyers may become citizens and still may be very connected to their foreign community.
[21:42] When Ginni talks to people with work visas, they tell her they want to stay when their visa is over. Parents of foreign students in universities also will buy a home for their student in the U.S. with the hope of the student staying and the parents moving there because they own a home.
[22:44] The Open Doors fact sheet says foreign students spend over $5 billion. Ginni gives estimates for several California universities. Do outreach at universities.
[24:05] Look at the industries in your local community and where folks are coming from. Then begin to do outreach. Go where they are and network with them.
[24:31] Refugee groups that settle in an area donât have the money to buy a house at the time, but as they become established, they work and build businesses, and become qualified to buy houses.
[26:00] Ginni tells of a man who immigrated to the U.S. with next to nothing, wanting to build his life. Now, he is a millionaire, owning multiple buildings and worked hard to get there.
[27:21] CIPS talks a lot about non-resident foreign buyers. These are investors buying houses more as investments than as homes. California attracts more than $1 billion in foreign direct investments from Japan, the UK, France, Canada, and Germany.
[30:07] The fluctuation of exchange rates plays an important role in these investments. Fluctuations can cause a buyer to cancel.
[32:14] The CIPS designation course teaches about the global market. If youâre not paying attention to global opportunities, youâre leaving profitable business on the table.
[35:55] The world is more connected now than it ever was. Inflation is happening around the world. Pay attention to the world economy or you will miss out on tremendous opportunities.
[36:33] There are investors for commercial properties, condo communities marketed internationally, college students, and refugee communities. There are many ways foreign investors purchase American real estate.
[37:19] When you grow with these communities, learn about their visas and their needs, and connect them with lenders, you can help them.
[38:22] Go to the HR departments of hospitals and colleges. Find out at the source how you can be a resource for their students, staff, employees, and medical professionals.
[44:32] Look for international real estate conferences in a search engine and you will get a list of conferences you can attend. A list is also provided in the back of a CIPS manual.
[48:11] Ginni notes that when you get your CIPS designation, you are part of a Facebook networking group. You can find an agent in the target country in minutes through the networking group
[52:15] Itâs such a powerful thing that you can create a relationship no matter where somebody is in the world. Weâre all so interconnected.
[52:38] Ginniâs final word: âThe most important thing is donât discount the global community. Donât discount the fact that the world really is a marble, that we are all so interconnected. And build that business and get the CIPS designation. Itâs such an important designation.
Tweetables:
âI want to share with you and your listeners the importance of global real estate, paying attention to it, and getting their Certified International Property Specialist designation. Donât miss out on opportunity!â â Ginni Field
âItâs all about the relationship and trust. ⊠When you look at the Americas, itâs a family affair. The process of buying real estate is often a family affair with a hierarchy. And if they donât know you, theyâre not doing anything with you.â â Ginni Field
âThe fluctuation of exchange rates â you have to be paying attention to that. It matters more for the investor buyer than it does for the person whoâs going to live in the house. ... If the exchange rate fluctuates just enough, that deal might be gone.â â Ginni Field
âWhen you get your CIPS designation, youâre now part of a networking group through social media, as well.â â Ginni Field
Guest Links:
Ginni Field, REALTORÂź
ABR, AHWD, CIPS, CRB, C-RETS, ePro, GRI, MRP, PSA, RENE, RSPS, SFR, SRS, SRES
Real Estate Trainer, Business Consultant, Risk Management Consultant, Business & Life Coach
www.ginnifield.com
858-774-7063
NAR Resource Links
The CIPS Designation
Additional Links:
Micro courses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse!
Crdpodcast.com
Learning.REALTOR for NAR Online Education
Training4RE.com â List of Classroom Courses from NAR and its affiliates
Host Information:
Monica Neubauer
Speaker/Podcaster/REALTORÂź
MonicaNeubauer.com
FranklinTNBlog.com
Monicaâs Facebook Page
Facebook.com/Monica.Neubauer
Instagram
Instagram.com/MonicaNeubauerSpeaks
Guest Bio
Ginni Field
Ginni has been in real estate since 1986, beginning her career in Fairfield, CT, and moving to San Diego, CA, and continuing her real estate career in California. Throughout most of her real estate career, Ginni served in brokerage management positions in both states with her largest office consisting of 250 agents creating profitable real estate offices in each location. Ginni has also served as Vice President of Leadership Development for an international real estate franchise sales company where she developed agent and leadership curriculum for agents and brokerage leaders. Ginni continues to write real estate training content as well as work with real estate companies as a consultant and as a coach to individual real estate agents and teams.
Achievements and Awards:
â REALTORÂź Associate of the Year 1991 Greater Fairfield Association of REALTORSÂź
â President, Greater Fairfield Association of REALTORSÂź 1998
â REALTORÂź of the Year 1998, Greater Fairfield Association of REALTORSÂź
â Former Director, Connecticut Association of REALTORSÂź
â President, North San Diego County Association of REALTORSÂź 2004
â Former Director, California Association of REALTORSÂź
â Regional Chair, Region 29, California Association of REALTORSÂź 2006
â Executive Committee, California Association of REALTORSÂź 2007
â Director, National Association of REALTORSÂź 2004â2010
â Former Member, National Association of REALTORSÂź Professional Development Committee
â Former Chair, Real Estate Business Institute Professional Development Committee
â Member, Real Estate Business Institute Learning Experiences Committee and Strategic Thinking Committee
â Former Director, Greater San Diego Association of REALTORSÂź
â Former Director, San Diego Multiple Listing System
â Inducted into the REBAC Hall of Fame 2013
â CIPS Instructor of the Year 2018
â Senior Real Estate Specialist Outstanding Service Award 2021
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In this episode we welcome Matt Difanis and Robert Morris. April is Fair Housing Month, as people know, and we gratefully, as an organization, are getting more education and more awareness on the need for us to be more systemic, and more attentive, in order to provide excellent care to all who come to us. Matt Difanis and Robert Morris have been instrumental at the national level with course materials, ethics reconsiderations, and other conversations that are helping us pay more attention. They teachboth the At Home with Diversity course and Bias Override. They are grateful to be sharing these classes and this information with our members. In this episode, they share their stories on what has led them to be so committed to getting the message of Fair Housing out to others.
Matt:
[1:40] Let me start by saying none of this was on my radar up until just a few years ago.
[2:00] I had the privilege of serving as the 2018 President of the Illinois REALTORSÂź and that meant I was on the leadership teams starting in 2016. And 2017, the year I was President-Elect, Illinois, like a lot of other associations, including NAR, was prepping for 50-year Fair Housing Act retrospectives and commemorative activities.
[2:20] As Illinois prepared, I got my first bit of exposure to the absolutely awful history of our industryâs involvement in housing discrimination
[2:59] So, I went from unaware to aware, not just of our history of housing discrimination but also the hangover effect that still exists.
[5:09] And so when you look at people who make it through to leadershp, itâs important to recognize, theyâve had to be the minority of the minority who were willing to just go find a battering ram and just find a way to break through it.
[5:28] And then, I had the opportunity after my time on the Illinois REALTORSÂź leadership team, I had the opportunity to serve as the 2020 President of the NAR Pro Standards Committee.
[5:46] We were doing things virtually. And George Floyd was murdered on viral video, and the country was on fire, and we had a proliferation of hate speech.
[6:04] Because of numerous requests made to them, President Vince Malta kicked over a request to my committee to look and see if there was a possible code of ethics solution.
[6:57] You donât get to be a REALTORÂź and engage in bigoted hate speech anywhere.
[7:17] That led to the opportunity to do speaking and training. So, itâs a genuine passion of mine.
Robert:
[9:23] âNow mineâs a little bit different. As you guys know, I consider myself, maybe itâs just my opinion, a Southern Gentleman, and I have been reared in the South my entire life. And so, as an American who happens to be Black, living in the South, it has always been an adventure.
[10:28] So, my walk has been that way the whole time. Iâve gotten into this particular arena because I want to change hearts and minds.
[10:59] And the other part is the fear factor that has always been associated with things that are different, things that people donât necessarily understand.
[11:16] And so, my philosophy is that I meet people where they are because everybodyâs at a different stage, theyâve been exposed to different things, and depending on the culture that theyâve been reared in, depending on the influences that theyâve had.
[11:38] One of the things I talk about is how culture affects us and that if we were reared in a culture by people that trusted us or by people we trusted and we loved, and they taught us things, based on their point of reference.
[12:21] So Iâd ask the question, âWhy do you feel the way you feel about me if I have never done anything to you?â
[13:06] So how are you going to respond now, based on what that is? So I think that discovery is important.
[13:26] And my mission â and like Matt, I have been blessed to be exposed to tens of hundreds of people, to share thoughts with them.
[12:53] So, in that walk that Iâve had, now for probably 20 years â that has been the mission, that I want people to have a better understanding of all of us and where we are, and just understanding that we are all just human beings.
[14:41] Iâve never heard a person on a donorâs list make that sort of request. They just want to live and weâre more alike than we are different.
Monica:
[15:33] And now youâre talking about something that is even more near to you. Iâll briefly share my story as well because I came into it very differently and my experience is more international.
[16:05] When I got older, I went to New York City, and then, ultimately, I went to live overseas, in another culture.
[16:38] I was looking around, looking at the way people were talking to me and treating me and the way they did things, and I said, âThese people really do not view the world and think about things the same way I do.
[17:09] My mother was a Swedish immigrant. But the Swedish culture wasnât that different. It is kind of different from the Southern culture. But Iâd always been in kind of a multicultural situation without realizing it. This really opened my eyes.
[19:44] I call myself a hobby sociologist because I find so much of this fascinating. But then there came a time when I became more involved.
[20:41] After seeing the memorial park in Tulsa,things opened up for me even more, and then, of course, the journey that Matt described about so many of the changes that happened in 2019 with the Newsday report (on housing discrimination).
[22:22] People need to be exposed to different stories, and different journeys, and when they are⊠just like me, to grow and then finally find a place to speak what I had learned.
[22:52] This journey has been fun in many respects. I feel very grateful to have had it. But isnât that the perspective that we all want to take, hopefully, when we go through something thatâs hard or different, that it changes us for the good?
Discussion:
[23:57] Monica stresses Robertâs point about fear and his question, âHave I caused you to feel that way? Has anybody actually caused you to feel that way in a personal engagement?â
[24:36] People are not born prejudiced. In their formative years, they were taught it or observed it from the people that mattered the most to them.
[30:18] Robert teaches that the construct has been put together for those who were in authority and power. Robert talks about meeting people where they are. The Fair Housing Act covers everyone.
[34:10] They discuss equity and equality.
[49:11] Robert says we need to revisit constructs that are not equitable, and that involves changing hearts and minds.
[53:31] Robert explains the terms Black American and African American.
[58:04] Matt shares two favorite books.
[1:01:41] Mattâs last words: Matt was very trepidatious about going into unfamiliar spaces where he was going to be the outlier. Most of White America donât take that opportunity. Matt invites you to seek out and enter unfamiliar spaces as a listener.
[1:02:56] Robert says, with Dr. King, Iâd love to get to a place where Iâm not judged by the color of my skin but by the content of my character. In America, if you work hard, you should be able to experience the American Dream.
Tweetables:
âAnd then [I] looked at the lack of inclusion that I was oblivious to, but like in 2017, the Illinois REALTORSÂźBoard of Directors, the whole board: 100% white and 68% male! Home to a city many of you have heard of, Chicago. We didnât look like the state at all!â â Matt
âItâs not just about Black and White. There are a lot of different pieces to that puzzle.â â Robert
âWe need to be able to give people targeted resources to offset structural disadvantages that we collectively as an industry inflicted on large swaths of our population.â â Matt
âAs human beings, mindwise, you might say, âYeah, itâs bad, but I kind of like the gig Iâve got.â and ⊠âI donât necessarily want to give up that.â Thatâs human nature.â â Robert
âWeâre not that much different. ⊠All of the things that you would want in your family are what all families would want. And hopefully, we can find a way as we travel this journey that we can become closer and better in those respects.â â Robert
Guest Links:
Robert Morris â Linkedin.com/in/robertmorrisseminars
Harvard Implicit Bias Test â Project Implicit
Implicit.harvard.edu/implicit/user/agg/blindspot/indexrk.htm
Matt Difanis Website â Mattdifanis.com
The Color of Law: A Forgotten History of How Our Government Segregated America, by Richard Rothstein
Caste: The Origins of Our Discontents, by Isabel Wilkerson
The Sum of Us: What Racism Costs Everyone and How We Can Prosper Together, by Heather McGhee
NAR Resource Links
Nar.realtor/fair-housing
Nar.realtor/fair-housing/fair-housing-compiled-resources
Fairhaven.REALTOR
Additional Links:
Micro courses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any online class!
Crdpodcast.com
Learning.REALTOR for NAR Online Education
Training4RE.com â List of Classroom Courses from NAR and its affiliates
New! Home Finance Resource (HFR) Certification
Host Information:
Monica Neubauer
Speaker/Podcaster/REALTORÂź
MonicaNeubauer.com
FranklinTNBlog.com
Monicaâs Facebook Page
Facebook.com/Monica.Neubauer
Instagram
Instagram.com/MonicaNeubauerSpeaks
Guest Bios
Robert Morris
Robert Morris has been actively involved in real estate sales and training since 1985. He recently received the Tennessee REALTORSÂź Educator of the year award for the second time and served as President of the Middle Tennessee Association of REALTORSÂź from 2020â2021.
Robert graduated from the NAR Leadership Academy in 2022 and serves as a NAR Director from Tennessee REALTORSÂź for 2022â2024. He has also been inducted into the Real Estate Buyerâs Agent Council (REBAC) Hall of Fame for 2022. Robert is an international speaker, certified instructor, and professional development consultant on the Dynamic Directions, Inc. team and he is committed to making a positive difference in the lives of every person he meets.
Matt Difanis
Matt considers himself the world's most improbable DEI and fair housing evangelist. Matt served as the 2018 President of the 50,000 member Illinois REALTORSÂź trade organization. During his four years on the state leadership team, he went from unaware of any of these issues to aware, then concerned, and eventually outraged. In the last few years, he has developed a reputation for building bridges to historically marginalized groups that have been impacted by housing discrimination â particularly the Black community.
Matt served as the 2020 Chair of the National Association of REALTORSÂź Professional Standards Committee, which is charged with updating and interpreting the NAR Code of Ethics. During his time leading that group, he advanced a series of proposals that eventually became Standard of Practice 10-5 in the Code of Ethics â a ban on discriminatory hate speech by REALTORSÂź. That journey has landed Matt in the pages of The New York Times, in a Bloomberg Businessweek feature about housing discrimination, as a live guest on Bloomberg Quicktake, and as the exclusive guest for a full hour on the Tavis Smiley Show on KBLA in Los Angeles.
Matt is a full-time practitioner and multi-office broker-owner in Champaign, Illinois, where he leads a highly inclusive real estate team. On Sunday mornings, you can find him in the tech booth of Pilgrim Missionary Baptist Church, a historically Black church, where he runs sound and the live stream, as well as doing volunteer photography.
Matt earned a bachelorâs degree in psychology and his juris doctor from the University of Illinois.
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Dr. Jessica Lautz is the Deputy Chief Economist and Vice President of Research at the National Association of REALTORSÂź. In this episode, she is going to share national data with us from NAR and discuss what she sees coming in the future. All of our crystal balls may be broken, but there are definitely patterns that can be seen. The core of Jessicaâs research focuses on analyzing trends for both NAR members and housing consumers. Through the management of surveys, focus groups, and data analysis, she presents new and innovative ways to showcase results. Letâs see what she will teach us in this episode!
[2:46] Jessica thinks weâre in a moment of transition when existing home sales data show 12 months of decline but the decline seems to be getting smaller.
[4:24] Our current sales numbers are lower than in 2019, before the pandemic. They are more in line with 2014 sales numbers.
[6:51] The typical homeowner has been in their home for 10 years and has $210,000 in home equity.
[7:14] In some scenarios, not only investors but a large share of primary residence repeat buyers are paying all cash for a home, because of the housing equity they have.
[9:34] Home mortgage interest rates had gone down for several weeks continually before going back up to 6.3% from 6.1%.
[10:53] Jessica says to pay attention to what happens after the Fed meets. NAR tracks interest rates and puts out a statement every Thursday on social media.
[12:30] Jessica explains the indirect effect that the Fed raising interest rates may have on mortgage loan interest rates.
[13:41] Jessica hopes that existing home sales in spring will be stronger than it was in the previous two months. She is starting to see early signs of it.
[15:52] Jessica breaks down corporate investors. We know that theyâre present in the market, but has their share of the market gone up?
[16:41] The investors of 2022 pushed first-time homebuyers out of the market.
[18:18] In March of 2022 there were five-and-a-half offers for every home that was listed.
[19:02] Jessica discusses credit card debt, student loan debt, and daycare costs. How are first-time homebuyers going to save a down payment when they use their credit card to buy eggs and milk?
[22:01] Jessica believes that awareness of low-down-payment programs in communities is low. Putting that information out there for potential buyers is incredibly important.
[25:15] Jessica discusses the aging population and the housing market. In the next three years, every Baby Boomer will be over the age of 60.
[26:36] Retirees are looking for newer homes with bells and whistles where they can age in place.
[33:54] Jessica shares a few of her favorite data points.
[37:31] Jessica also shares that a lot of first-time homebuyers are trying to get out of their parentsâ homes and move into home ownership.
[38:08] Jessica shares her links for NAR Research at NAR.realtor. You can also subscribe and share infographic posts from NAR Research on Instagram, Facebook, and Twitter.
Tweetables:
âWe released our existing home sales data and it showed a continual decline â 12 months of decline â but it seems like the decline is getting smaller. ⊠[It] is not necessarily a normal spring market; ⊠interest rates are still high, but a more normal spring market.â â Jessica
âBuyers are coming back. They understand now that rates are higher but they may actually have an opportunity in the market, especially first-time homebuyers.â â Jessica
âItâs also your long-term future. Itâs also the long-term savings and the gains that you have in home ownership that you donât have as a renter.â â Jessica
âOnly 26% of the market was first-time homebuyers last year. In a healthy market, it would be 40%. So we really lost first-time homebuyers last year.â â Jessica
Guest Links:
Dr. Jessica Lautz
NAR.realtor Research section
NAR Research on Facebook
NAR Research on Instagram
NAR Research on Twitter
Email [email protected]
Additional Links:
Micro courses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any online class!
Crdpodcast.com
Learning.REALTOR for NAR Online Education
Training4RE.com â List of Classroom Courses from NAR and its affiliates
New! Home Finance Resource (HFR) Certification
Host Information:
Monica Neubauer
Speaker/Podcaster/REALTORÂź
MonicaNeubauer.com
FranklinTNBlog.com
Monicaâs Facebook Page
Facebook.com/Monica.Neubauer
Instagram
Instagram.com/MonicaNeubauerSpeaks
Additional Bio:
Dr. Jessica Lautz is the Deputy Chief Economist and Vice President of Research at the National Association of REALTORSÂź. In 2021, Dr. Lautz was named one of Housing Wireâs Women of Influence, a list representing 100 of the most influential women in leadership in the housing industry. In 2022 and 2023, Dr. Lautz was named RIS Media Newsmaker in My Influencer and Crusader categories, respectively.
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