WASHINGTON MORTGAGE 5-18-20

WASHINGTON MORTGAGE EDITION

ARE YOUR

PRESENTATION SKILLS COSTING YOU MONEY?

How to

SPEED UP FIRST-TIME HOMEBUYER TRANSACTIONS I'LL TAKE

COVER STORY

BOB RANKIN

2 POUNDS OF CONFIDENCE

AND 3 POUNDS OF SELF-ESTEEM!

WASHINGTON MORTGAGE EDITION

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BOB RANKIN

BOB RANKIN

CONTENTS

4) HOW TO SPEED UP FIRST-TIME HOMEBUYER TRANSACTIONS

18) ARE YOUR PRESENTATION SKILLS COSTING YOU MONEY?

13) I’LL TAKE 2 POUNDS OF CONFIDENCE AND 3 POUNDS OF SELF-ESTEEM!

22) 7 SIMPLE TIPS THAT ARE PROVEN TO HELP YOU STAY AHEAD OF THE COMPETITION

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How to Speed Up First-Time Homebuyer Transactions Working with first-time homebuyers can be among the most rewarding real estate transactions an agent can embark upon.

Not only are you helping guide newcomers into the housing market, but you’re also witness to the excitement and triumphs along the way, including handing over those keys for the first time. While 4

helping first-time homebuyers navigate the transactional process can be a reminder of real estate’s benevolent power, it can also come with its own bumps and bruises.

So, what’s the best way to streamline the homebuying process for first-timers, while maintaining the magic and keeping your sanity along the way?

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While helping first-time homebuyers navigate the transactional process can be a reminder of real estate’s benevolent power, it can also come with its own bumps and bruises.

Set expectations upfront and often.

It’s no secret that communication is a cornerstone of a successful real estate practice and client relationship. Amidst a transaction as complex as buying (or selling) a home, it’s important that no wires get crossed, no questions go unanswered, and no information gets lost in translation. To accomplish this, create communication parameters with your clients up front. Inquire about the communication medium they’re most comfortable with—a text, a call, an email, etc.

Then, tailor your outreach accordingly.

Also, consider setting a weekly time to check in, even if no official progress has been made. This helps clients and agents touch base, float questions and concerns, and get ahead of any problems or developments. Another helpful tool is to draft a transaction timeline for your client that outlines the major milestones along the way, what sort of information will need to be gathered, what steps taken, and what outcomes are possible. This might seem like exhaustive work, but in the era of digital research, clients will come to their own conclusions and biases Top Agent Magazine

whether you like it or not. To stay on the same page and timeline, be the foremost resource for your client, and don’t leave their questions up to chance.

Know your first-time homebuyer programs and perks.

There are a variety of national, state, regional, and local grants and programs that aid first-time homebuyers as they pay their down payment, shop for home or mortgage insurance, and otherwise deal with the financial implications of becoming a homeowner. Sometimes these programs are neighborhood-specific in certain cities, with incentives to buy in up and coming areas. In some cases, there are grants that support underrepresented minority communities breaking into homebuying, and these can go a long way in making the burden of a down payment and associated fees doable. In other words, do your research.

The right program or grant could make the difference in nabbing a dream starter home for your client, while setting them up for future financial success.

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Get pre-approved for a mortgage—and shop around for the best rate.

Not all mortgage rates are made equal. As an agent, you likely have good relationships with area lenders that you trust, but it’s still important to complete your due diligence when helping first-time homebuyers find the rate that suits their longterm housing goals. Also remember that first-time homebuyers are new to this process, and while real estate transactions are complex in their own right, the borrowing and lending processes can be alienating in their complexity. As an agent, it’s your job to play intermediary and teacher, ensuring your clients know their options, are prepared to make an educated decision, and

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feel confident that they’ve chosen correctly. Talk with your preferred mortgage partners to best outline options for your clients’ understanding, laying out a framework that’s informative, projected into the future, and allows them to feel empowered by knowledge.

All in all, working with first-time homebuyers can be an exciting and joyous occasion, as long as you’re adequately prepared for some hand-holding and instruction along the way. Aside from the enthusiasm of successful first-timers at the closing table, you’ll also enjoy the lasting benefit of strong referrals to their friends and family, many of whom will be shopping with you for their own first dream homes.

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BOB RANKIN Top Agent Magazine

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Bob Rankin, Senior Vice President of Sales and Recruiting at Fairway Independent Mortgage Corporation manages a group of local Fairway branches in the Greater Seattle Area.

Inspired by a close friend who was a broker, Bob Rankin got into the mortgage business as a loan officer in 2006. He is currently a Senior Vice President of Sales and Recruiting at Fairway Independent Mortgage Corporation and manages a group of local Fairway branches in the Greater Seattle Area, recognized as Fairway Sound.

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For Bob, his relationships with his clients are the key to his success, which is why he estimates his referral rate to be around 80%. “Business is about building relationships. I like to help clients get into homes, or refinance and better their financial situation. I’m passionate about serving people.” And in these uncertain times, his Top Agent Magazine

clients rely on Bob’s expertise more than ever. The COVID-19 pandemic has created very low interest rates on the market.

“We have a massive pipeline of refinances that we’re working through because people want to take advantage of these historically low rates. The entire market has changed in the last three weeks. We still do all the government loans, but specialty loans have been mostly put on hold right now due to the coronavirus situation.”

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Bob believes that it’s crucial during this time to remain on top of educating his team on the situation in order to best serve his client’s needs. “We’re taking this time to ensure we are experts and educators of what’s going on in the market. There’s an incredible amount of change happening. The federal government has allowed anyone with a mortgage to apply for forbearance of anywhere from 3 to 6 months.

That has caused a huge disruption in the Copyright Top Agent Magazine 9

“The paradoxical beauty of this business is that every loan comes with its own problem, and at Fairway, we’re expert problem solvers. When we get to solve a problem quickly and professionally, we put smiles on people’s faces.” industry. So we’re working to educate borrowers to understand what that means. We also have clients that are in the process of buying a house, or refinancing a house, who are at risk of losing their jobs, or have 10Copyright Top Agent Magazine

already lost their jobs. We’re doing our best to advise them on what to do.”

For anyone looking to get into the mortgage industry, Bob has a unique perspective on Top Agent Magazine

the business. “The paradoxical beauty of this business is that every loan comes with its own problem, and at Fairway, we’re expert problem solvers. When we get to solve a problem quickly and professionally, we put smiles on people’s faces. We get to bring joy to people. That’s what motivates me everyday. The last several Top Agent Magazine

months have introduced new problems, that’s okay, we can help solve them.”

When not busy working, Bob likes to spend time with his family, kids, and grandkids. He is also involved in various charitable organizations through Fairway.

Going forward he would like to grow his Copyright Top Agent Magazine11

group of branches, become the number one lender is King County, and eventually transition the business to his son. But for now, he’s focusing his energy on being a positive leader and guiding his team through this very uncertain time. “There’s a lot of

paralyzing fear in society right now, but this is the time for leaders to remain positive.

We can’t give into fear. As a man of faith, I know that fear and faith cannot coexist, so I choose to speak faith into my team every single day.”

To learn more about Bob Rankin email bobr@fairwaymc.com, visit fairwaysound.com, or call 206-605–6704. http://www.justingrable.com www.

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I’ll Take 2 Pounds of Confidence and 3 Pounds of Self-Esteem!

By Barry Eisen

At least a few times per month I get emails and/or calls asking me to help develop confidence and a positive self-esteem. When you’re hot you’re hot and when you’re not, you’re not. Life has its ups and downs and occasionally everyone feels like they’ve run out of gas and nothing they seem to do works. When you’re in a slump the world can look overwhelming and against you. The more you think about you’re victimhood, the more out of control you feel.What you focus upon becomes larger. Confidence, positive self-esteem...these are just words and something experienced many moons ago. Talk it out with your spouse? Sure. See a therapist? Maybe. Get a coach? Good idea. Call a hypnotist...that’s where I come in, but maybe not in an obvious way.

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Hypnosis can be of help in so many areas such as controlling weight, memory improvement, reading faster, stopping smoking, becoming a great public speaker, prospecting and growing a business, eliminating fears, becoming a better golfer/tennis player/baseball player etc., sleeping and energy, controlling pain control in dentistry and child birthing, improving wellness, passing tests and so much more. This is not an over statement. Hypnosis is a performance enhancer because it taps into the best parts of who we are to make the changes necessary to make the changes to evolve ourselves.

But “programming” ones mind for confidence and positive self-esteem is not something I’ve seen done effectively. The subconscious says, “What does that mean?” “Give me a picture, what do you want?” Read any neuroscience to know (or simply use common sense) that the subconscious needs specific direction (words, pictures and supportive feelings) for these clear messages to be acted upon. A general business plan is usually a recipe for disaster. A poor teaching plan will confuse students. Mixed general messages given to a 3 year old will produce erratic behavior. A loose navigation plan will have ships traveling in circles. Just like many people.

Instead of working on confidence and positive self-esteem, does it make sense to instead, work on a solid business target of success and develop a business plan that will get you there? If you’re planning for the future, is it not a better idea to set an end result and develop strategies that will make it happen? If you’re looking for better health, doesn’t it make sense to set a target for excellence and back it up with a realistic exercise and eating approach that will insure success?

The confidence and self-esteem will come along automatically. Create the goal, take action, do the work, be consistent. Your business will never grow more than you do. Your health will never get better without you stretching out beyond who you now are. Your relationships will never be more secure and supportive than you are of yourself. Your confidence and self-esteem will never grow without a reason.

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Before you therapy or drug yourself into confidence and self-esteem, at least try (Oh! I hate that word) the 10 organic following ideas for 2-3 weeks.

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Set goals that stretch you out and force you to grow. You can’t be depressed when you’re learning something. Learning takes you out of your egocentric predicament.

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Create timelines/target dates for goal accomplishments. This establishes a sense of urgency. It puts a little “gitty up” in your step and mind.

List your actions of the day on your To-Do list and prioritize all items.

Doing the A’s and crossing each off as done, will put a smile on your face and a jolt of small energy in your life. (Accomplishment feels good.

Could you use some “feel good”/self-esteem?) You’ll start looking forward

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to these little positive jolts and do what is necessary to have them. If I was talking cocaine...that would be a bad thing, but since I’m talking non drug human motivation...that would be a good thing.

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If you’re just feeling flat for no obvious reason, take on an interest/ hobby/project that’s been on your mind in the past. Learning stimulates blood flow to different parts of the brain and increases endorphin flow.

(E.g. Calligraphy, sailing, martial arts, reading sci-fi, etc.)

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Follow through like your hair’s on fire. Show yourself what you CAN DO! Create some appropriate reward for the accomplishment.

Balance your life with goals in physical, financial, emotional, educational, family, social and spiritual areas. Sometimes more is better.

Purposely smile more, laugh easier, hold eye contact a little more (obviously, not in a creepy way) and present a stronger posture.

Learn to relax to slow down, put things in perspective, ask yourself how you feel and how you’re doing 2 or 3 times during your day. Don’t let the day rule you. Be present. Pay attention.

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Act “AS IF” you were already doing things with confidence, making decisions with authority and living the life you want to live. You become what you think about.

Barry Eisen teaches personal development seminars and coaches Southern California top producing REALTORS®. “Your business will never grow more than you do” is the theme; self hypnosis and behavior modification are the tools for playing a bigger game. barryeisen.com, barryeisen@LA.twcbc.com 818-769-4300 16

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Are Your Presentation Skills Costing You Money?

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ometimes we’re so focused on technology and education that we forget this is a “people business”. And, a great deal of the money you make comes from your ‘point of contact’ skills. What do I mean by that? Lead generating dialogues and presentation dialogues. Yet, how much do we work on those verbal skills?

Unfortunately, communication sales skills have gotten short shrift in the last decade. Why? I think it’s because many of us are so challenged by technological changes. But, slow down. Think about how you actually make money. It’s at point of contact.

Getting better at point of contact skills translates into more money in less time.

We’re All Presenters Everyone in the real estate business presents: Agents present, when they are doing listing or buyer presentations. Managers present when they are recruiting, or doing their office meetings. Mortgage and title 18

By Carla Cross

When you’re doing a listing presentation, what do you want to happen? You want them to sign the listing agreement when you’re done. reps present when they are in front of a group of agents in an office, talking about their services. So, doesn’t it make sense to become ‘killer’ at those presentations? You’ll double your money and halve your time.

Bug Off: I Do Okay Just Like I Am Yeah. I know. As a musician, I’ve worked with literally hundreds of people who thought they ‘played good enough.’

Some people just get to a certain performance level and leave it there. Have you ever thought that, often, our presentation strategies (or lack of) work in spite of us, not because of us?

As a musician, I know the thrill of performing at high levels. So, open your mind and consider

stepping up to a higher presentation level. Not only will you have personal satisfaction, you’ll make more money!

Now, let’s tackle one set of presentation skills: Organizing that presentation effectively.

Having heard listing presentations that wander all around the world, I know the importance of effective presentation organization.

Three Steps to Organize Your Presentation to Knock Their Socks Off Most of the time, we just get in front of people and say whatever we think of first. That leads to some big presentation mistakes, and costs us ‘sales.’ Instead of stumbling through a presentation, why not organize it to Copyright Top Top Agent Agent Magazine

grab their attention, persuade them to your way of thinking, and motivate them to action?

You can. In my new resource, Knock Their Socks Off: Tips to Make Your Best Presentation Ever, I show a simple three-step format to create your persuasive presentation. No matter why you’re in front of people, we need to be persuasive Think about it. When you’re doing a listing presentation, what do you want to happen? You want them to sign the listing agreement when you’re done.

So, it’s extremely important that you organize your listing presentation using a persuasive format, not just an information-heavy dialogue flow.

Grab Their Attention in the Opening Have you thought about your opening? Or, are you nervously standing at the sellers’ door, worried about what you’re going to say? Are you hiding in your office because you dread doing that sales meeting? When we haven’t organized our presentation, we come up with some really boring, off-putting openings, like: I won’t take much of your time, but...

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We have a lot to cover today We won’t get through the outline I know you don’t want to listen, but...

I’m not really prepared

You just open your presentation book, point to the pretty pages, and say, “here’s a keybox” (I’m not kidding. I’ve seen it….)

Great openings, yes? Yet, we’ve heard them dozens of times. You don’t have to settle for whatever 19

If you’re doing a presentation to sellers, one of the major objectives of your presentation is to persuade them to your listing price point of view. comes ‘naturally.’ Instead, make your openings: Provocative Interesting Different Engaging I just attended a ‘Train the Trainer’ session (yes, I still learn great stuff every day!), where the trainer said it was important to engage the audience in a meaningful way in the first two minutes of your presentation. I think that’s a great rule to follow today, because people’s attention spans are the length of a gnat’s eyebrow. So, the next time you attend a presentation, see how much time elapses before the speaker/presenter/trainer gets the audience into meaningful action.

I don’t mean to ask a rhetorical question, either!

A Middle That Educates Your ‘Audience’ to Your Point of View In the middle of your pres20

entation, add those stories, statistics, and visuals that support your point of view. By the way, as you create that presentation, jot down your point of view. If you’re doing a presentation to sellers, one of the major objectives of your presentation is to persuade them to your listing price point of view.

Retention is Key

Why Use Visuals?

Three days later:

There are two reasons to use visuals in your presentation:

We retain 10% of the information when we hear it

We believe what we see

We retain 65% of the information when we hear and see it

We retain the information much longer As you organize your presentation, ask yourself:

Have you ever met with sellers or buyers, given them lots of information—and then had them question you about it a few days later—as if they never heard you—or heard you backwards? That’s because people don’t hear and retain very well.

Look at the statistics:

So, use visuals to prove your points, not to merely show pretty pictures of houses.

The Ending: What are the main, and fre- Back to the Beginning quently, unspoken objections my ‘audience’ will have? How do I educate them to show them the reasoning behind my point of view?

Have you thought about your wrap-up? Or, like many presenters, does your ending sound like this?

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Well, that’s all. What do you think?

pop tunes are constructed with this format:

We’re out of time. Thank you.

I hope you’ll list with me

theme—variation—theme

I don’t have time to close.

I couldn’t get to much of the material, but you can read it In fact, even the most professional presenters frequently have trouble with their endings.

One of the main reasons is that they run out of time. Another is that they haven’t thought the ending through.

How to Do a Stunning Ending Crafting an effecting ending is the second most important part of your presentation. (The first is the opening). To craft a great ending, Go back to your beginning opening theme Summarize the benefits of going ahead with you/take action Motivate your ‘audience’ to take action

A Great Presentation is Crafted Like a Pop Song As a musician, I know that all Top Agent Top Magazine Copyright Agent Magazine

This is known in the music business as the ABA format.

Think of your favorite pop tune: Hum the beginning.

Think of the end. They’re alike, right? It’s the middle— known as the ‘bridge’—that is the humdinger. It wanders all around. Your persuasive presentation should be crafted like that pop tune: A. A compelling start (think Billy Joel, Neil Diamond, etc.)

B. An interesting, developed middle, with stories, statistics A. Back to that theme, with a motivating ending Now, you’re all set to craft a great listing or buyer presentation, great recruiting meeting or sales meeting, or awesome product/service presentation to any audience.

Carla Cross, CRB, MA, President of Carla Cross & Co., is an international speaker, coach, and resource provider specializing in real estate management. A former master level CRB instructor, and National REALTOR® Educator winner, Carla was recently named one of the 50 most influential women in real estate. For a free document on standards to establish, email Carla at Carla@carlacross. com and ask for standards document.

Carla has written six internationally published books, and provides coaching programs for management, including her affordable inoffice coaching programs Up and Running in 30 Days and On Track to Success in 30 Days for Experienced Agents, which provide standards, focus, and accountability.

Reach Carla at 425-392-6914 or www.carla cross.com.

P. S. Practice!

Many more tips on presentations and presentation skills are in my new resource, Knock Their Socks Off: Tips to Make your Best Presentation Ever.

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7 Simple Tips that are Proven to Help You Stay Ahead of the Competition So you’ve created a successful business, congratulations! You probably did it by providing an unsurpassed level of customer service that not only meets customer expectations but exceeds them in a way that has made you stand out from the rest. As anyone can tell you, starting a successful business is not easy.

Now comes the even harder part. Not only sustaining that high level of performance, but continuing to grow and outpace the competition. There is no resting on your laurels in a competitive business market. Companies that stay successful for the longterm, make an active effort to keep on top. Here are just a few ways you can do the same.

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1. Know the competition It’s not enough to know what you excel at or what makes you unique, you need to know what your competitors are offering that makes them stand out. This serves two purposes: it will allow you to more clearly define your differences, or it may help you identify an area that you hadn’t considered before, opening up a potentially new way in which you can excel above the rest.

2. Know your customers You might know your clientele very well, but as economic conditions change, so does your

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customer’s needs. What might have been a priority a year ago, won’t be if we are in the midst of an economic downturn, for example.

As a business owner you should always be evaluating your strategies in every area constantly, knowing what your customer wants and needs from you is key. In fact you should be using your expertise to analyze potential market changes and anticipate those needs to stay ahead of the curve.

3. Have a strong understanding on what makes you unique Once you accomplish the first two, you should have a clear idea of what unique advantage you offer people. This needs to be clear to everyone, so you can then take that idea and run with it. Find your niche and then market yourself with a focus on that idea. If you have a clear thing you’re selling, it is well worth the investment to market yourself to the hilt with that in mind.

5. Think like your competitors One way your competitors looks to gain customers is by potentially taking yours. It goes without saying, you don’t want to let that happen. You’ve probably built great relationships, so really maintain those relationships by not only providing great service, but service that truly goes above and beyond. Find ways to give more to your customers. You might even want to start offering surveys, where your clients can tell you exactly what they’d like to see.This makes your clients not only feel heard, but blown away when you implement any changes they suggest.

6. Look for untapped markets Don’t settle for maintaining what you have, there could be untapped markets out there.

If you don’t get to them, your competitors will. So even if they come eventually, hopefully you’ll already be the dominate force in that market.

4. Keep up to date

7. Be a great boss

This goes for everything from technology to systems, marketing, and even your own personal image. If you have a brick and mortar location, you want to also keep things looking fresh and modern there, as well. First impressions are important for a reason. Everything about your business should tie into your marketing and branding. What are you selling and does everything line up to support that, from your business cards to your social media pages. Remember the key to branding and marketing is a consistent message.

One of the best things you can do to keep ahead of the rest, is by being a company where top talent and motivated newcomers want to be. Be the company that offers more than a competitive paycheck. Be a place that fosters talent, and offers scheduling and compensations packages that appeal more to people who think outside of the box. This will attract more innovative thinkers who value flexibility. Not only will you benefit from their talents, more importantly, your competition won’t.

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