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JPAR Gives Agents Cut of New Mortgage Venture

JPAR Gives Agents Cut of New Mortgage Venture

JP & Associates REALTORS® (JPAR) announced a joint mortgage venture with fintech startup Avenu and its IntroLend platform.

Introlend is an app that allows the consumer to receive mortgage offers from their different sources, including a wholesale lender that works with the company. JPAR is creating its own limited liability corporation to launch its own branded platform, where agents can buy into owning a piece of the platform.

Agents make money off of the success of the company because they become owners. This means they won’t be violating the Real Estate Settlement Procedures Act (RESPA), according to Geoff Lewis, the president of Vesuvius Holdings, the parent company of JPAR. Agents won’t be directly steering a consumer to a specific lender in exchange for a kickback fee. They are presenting the consumer with mortgage offers from three different lenders and can even recommend lenders they have a previous relationship with for inclusion in the app.

“They’re not directly receiving dividends based on the deals they actually refer to the mortgage entity,” Lewis said. “If they have a lender they like working with, a loan officer that’s their favorite, they can invite that loan officer to participate in IntroLend.”

Participation is currently available to JPAR agents in Texas on the corporate and franchise side, but the company is working on getting licensed in more states.

Participation is open to agents that have been with JPAR for at least one year. Each unit is priced at $500 and escalates based on the length of time with JPAR. If you’ve been with JPAR for one year, you can buy-in at up to $1000, 2 years-$5000, three years-$10,000, and four years-$20,000. These levels are the maximum that can be invested.

The venture is expected to scale quickly and provide a nice return for agents.

“One of the things that we’ve said all along is that we’re a next-generation brokerage,” Lewis said. “We’re innovative, cutting edge and agent-centric with our 100 percent commission, transaction fee model.”

The launch of IntroLend is another service in addition to iBuyer, an amazing tech platform, and the agent healthcare offerings and will allow JPAR to continue the massive growth it is seeing in the space.
“This is just another innovation that shows we’re focused on being agent-centric and we believe this will be very important in recruiting and retaining agents,” Lewis added.

Allowing agents to buy into ownership of the mortgage company is the thing that makes this program unique from other IntroLend platform partners.

About JP & Associates REALTORS®
At JP & Associates REALTORS® we’ve built a company that focuses on putting agents first. Opening in 2011, JPAR is taking the real estate industry by storm and earning accolades such as Top 10 Hottest Franchise (according to Inc.), a three-time Inc. 5000 honoree (2019: #1004), and the Fastest Growing 100% Commission Brokerage and Franchise in the USA (according to Real Trends 500). Since offering franchise services in 2018, JPAR has expanded to 8 states in addition to the brokerage in Texas.

JPAR operates multiple offices across Texas, Louisiana, South Carolina, North Carolina, Georgia, Arizona, New Mexico, and Florida, is expanding nationwide, and offers franchising opportunities for entrepreneurial real estate professionals.

To learn more about becoming an agent or franchising visit http://www.jpar.com.

I Hear It Almost Daily From Someone, “I’m overwhelmed!”

I Hear It Almost Daily From Someone, “I’m overwhelmed!”

Our work lives have become more demanding, presenting us with more complex challenges at a relentless pace. Add in your personal needs, family needs, and other commitments, and it’s easy to feel always overwhelmed. For most of us, the typical response to growing workloads is to work harder and put in longer hours, rather than to step back and examine and find a new way of operating. 

The cognitive impact of feeling overwhelmed continuously can range from mental slowness, forgetfulness, confusion, difficulty concentrating, or thinking logically, to a racing mind or an impaired ability to problem solve. When we have too many demands over an extended period of time, cognitive fatigue kicks in. The effect makes us less productive and leaves us feeling even more overwhelmed. 

If you are feeling overwhelmed, here are some key strategies to try:

  • Simply Stop. 

Have the courage to stop what you’re doing. Give yourself the time and space to slow down, so you can see the bigger picture and get a handle on things. Regather yourself. Center yourself so that you have the energy to make wiser, healthier decisions.

  • Get clear on your priorities. 

Taking time to contemplate your priorities is key to having focused flow. What’s most important to you right now? How do you want to run your business and live your life on a day-to-day basis? Look at the bigger picture and how you want to spend your time and energy. 

  • Let go 

Lin Yutang said, “besides the noble art of getting things done, there is the noble art of leaving things undone. The wisdom in business consists in the elimination of nonessentials.” What don’t you need to do? What can you automate, delegate, or eliminate? 

  • Commit to less. 

Having too much to do often has to do with unrealistic goal setting and over-committing your time and energy. Are you overly ambitious? Are you not being realistic about your goals and what you can do?

  • Say NO more often.

People who are overwhelmed spread their energy too thinly. Often, it’s hard for them to say “no” because they fear disappointing others. When you feel scattered and pulled apart in a lot of different directions, are you willing to pull yourself back in and say “no” to others? Are you ready to get more comfortable saying no?

  • Limit yourself. 

Be willing to focus on just a few things at a time. Put limits on certain activities that aren’t important. By limiting your time and energy for specific endeavors, and not allowing yourself to get lost in the day-to-day, you can create more time and space in your life. Limit the number of emails, FB time, talk time, any activities that consume the unproductive time in your life. The paradox is that by creating more discipline and limitation in your life, you create greater freedom.

  • Re-imagine a new schedule.

Imagine a new lifestyle from scratch. If you made your business effectiveness, health, and happiness a priority, what would a perfect day look like? What would an ideal week look like?’ 

Being overwhelmed is not a fact — it’s a state of consciousness that limits your freedom and happiness. It requires a shift in perspective. Often, when you’re feeling overwhelmed, you’re over-thinking everything that needs to get done. You’ve lost yourself, and you’re no longer present. 

Instead of seeing the things outside of you having power over you, be willing to stop and regather yourself. Bring yourself back to the present moment. Remember that you have a choice about the way you want to feel.

 

 

What Would Happen: If you NEVER Tolerated Inaction?

What Would Happen: If you NEVER Tolerated Inaction?

This week I had the opportunity to speak with several real estate agents about their upcoming 2020 New Years’ resolutions. Research has shown that about half of all adults make New Year’s resolutions. However, fewer than 10% manage to keep them for more than a few months. Like me, does this statistic make you wonder why? What’s the solution? Consider this:

What would happen if starting today, you never tolerated inaction in yourself? Think about that for a moment again, what would happen if starting today you never tolerated inaction in yourself?

From the book, Atomic Habits, there is a common mistake that often happens to too many of us. The error has to do with the difference between being in motion and taking action. They sound similar, but they’re not the same.

When you’re in motion, you’re planning and strategizing and learning. Those are all good things, but they don’t produce a result. Action, on the other hand, is the type of behavior that will deliver an outcome.

Here’s a couple of practical examples:

  • If I outline 20 ideas for articles I want to write, that’s motion.
    • If I write and publish an article, that’s action.
  • If I email 10 new leads for my business and start conversations with them, that’s motion.
    • When I set an appointment, that’s action.
  • If I search for a better diet plan and read a few books on the topic, that’s motion.
    • If I eat a healthy meal, that’s action.

Sometimes motion is useful, yet it will never produce an outcome by itself. It doesn’t matter how many times you talk to the personal trainer, that motion will never get you in shape. Only the action of working out will get the result you’re looking to achieve.

If the motion doesn’t lead to results, why do we do it?

Sometimes we do it because we need to plan or learn more. But more often than not, we do it because motion allows us to feel like we’re making progress without running the risk of failure. Most of us are experts at avoiding criticism. It doesn’t feel right to fail or to be judged publicly, so we tend to avoid situations where that might happen. And that’s the biggest reason why you slip into motion rather than taking action: you want to delay failure.

It’s easy to be in motion and convince yourself that you’re still making progress. You think, “I’ve got conversations going with four potential clients right now. This is good. We’re moving in the right direction.” Motion makes you feel like you’re getting things done. But really, you’re just preparing to get something done. When preparation becomes a form of procrastination, you need to change something. You don’t want to be planning merely. You want to be practicing.

TRYceratops VS DOceratops

Some ideas to get out of motion and into action:

  1. Work expands to the time you give it: Set a specific time for each task.
  2. Set a schedule for your actions: Basic time blocking.
  3. Pick a date to shift you from motion to action: set hard deadlines.
  4. Ignore, switch your feelings: “I don’t feel like it” to “Let’s get this done!”

For some goals, setting a daily or weekly schedule doesn’t work as well. This is the case if you’re doing something that is only going to happen once: studying for your broker exam or getting your GRI. These things require some planning upfront (motion). They also need plenty of action to complete them. For example, you could set a schedule each week to study. In a situation like this, research shows it’s best to pick a date. Put something on the calendar – like the test date. Make it public. This is when X is happening. In other words, set a HARD DEADLINE.

Research shows that people who make a specific plan for when and where they will perform a new habit are more likely to follow through. Too many people try to change their habits without these basic details figured out. We tell ourselves, “I’m going to eat healthier” or “I’m going to write more,” but we never say when and where these habits are going to happen. We leave it up to chance and hope that we will “just remember to do it” or feel motivated at the right time.

Hope is not a strategy!

An implementation intention sweeps away foggy notions like “I want to work out more” or “I want to be more productive” or “I should vote” and transforms them into a concrete plan of action.

Many people think they lack motivation when what they lack is clarity.

A straightforward way to apply this strategy to your habits is to fill out this sentence:

I will [BEHAVIOR] at [TIME] in [LOCATION]

  • I will follow up with 4 leads a day for 30 minutes at 9 a.m. in my office.
  • I will complete part 1 of my project, investing twenty minutes at 10 a.m. in my office.
  • I will exercise for one hour at 5 p.m. at my gym.
  • I will make my wife a cup of tea at 7 a.m. each morning in the kitchen.

Give your habits time and space. The goal is to make the time and location so apparent that, with enough repetition, you get an urge to do the right thing at the right time, even if you can’t say why.

To put it: planning out when and where you will perform a specific behavior turns your environment into a trigger for action. The time and place trigger your behavior, not your level of motivation.

Motivation is short-lived and doesn’t lead to consistent action. If you want to achieve your goals, then you need a plan for exactly when and how you’re going to execute on them regardless of how you feel.

There are some lessons that only #failure can teach. Failure is not the problem… inaction is… procrastination is.

Let’s commit this week to move from motion to action.

#WinTheDay

Persistence – All The Reward Is In The Follow Up!

Persistence – All The Reward Is In The Follow Up!

These statistics will shock and surprise you. So, get ready. We recently did a blind study on incoming leads. 85% of the new leads received a follow-up, 15% got crickets. 

So what is the psychology of the 15% of sales professionals that never follow up on a new lead? Even more shocking is we found that of the 85% that did make the initial follow up, only 25% made a second attempt! And of that 25%, only 12% made a third attempt. So what’s going on here? 

It’s the voice inside your head. It’s a growth vs. fixed mindset. 

  • 2% of sales are made on the first contact
  • 5% of sales are made on the third contact
  • 10% of sales are made on the fourth contact
  • 80% of sales are made on the fifth to twelfth contact

Persistence is the key to your success. In a study specifically related to real estate sales, sales professionals that made three attempts vs. those that made five or more attempts had more than a $100K difference in annual income. 

Today we are bombarded with information. We are in information overwhelm. But that does not mean someone doesn’t want to buy, sell or invest. It might be, like me, right now, it isn’t a high priority. 

Staying connected is the key. Using content from tools like Keeping Current Matters can help, yet so can a casual check-in call, text, or video chat. It’s you vs. your baby, and nothing is in your way except for your growth vs. fixed mindset. 

 

I Hear It Almost Daily From Someone, “I’m overwhelmed!”

I Hear It Almost Daily From Someone, “I’m overwhelmed!”

Our work lives have become more demanding, presenting us with more complex challenges at a relentless pace. Add in your personal needs, family needs, and other commitments, and it’s easy to feel always overwhelmed. For most of us, the typical response to growing workloads is to work harder and put in longer hours, rather than to step back and examine and find a new way of operating. 

The cognitive impact of feeling overwhelmed continuously can range from mental slowness, forgetfulness, confusion, difficulty concentrating, or thinking logically, to a racing mind or an impaired ability to problem solve. When we have too many demands over an extended period of time, cognitive fatigue kicks in. The effect makes us less productive and leaves us feeling even more overwhelmed. 

If you are feeling overwhelmed, here are some key strategies to try:

  • Simply Stop. 

Have the courage to stop what you’re doing. Give yourself the time and space to slow down, so you can see the bigger picture and get a handle on things. Regather yourself. Center yourself so that you have the energy to make wiser, healthier decisions.

  • Get clear on your priorities. 

Taking time to contemplate your priorities is key to having focused flow. What’s most important to you right now? How do you want to run your business and live your life on a day-to-day basis? Look at the bigger picture and how you want to spend your time and energy. 

  • Let go 

Lin Yutang said, “besides the noble art of getting things done, there is the noble art of leaving things undone. The wisdom in business consists in the elimination of nonessentials.” What don’t you need to do? What can you automate, delegate, or eliminate? 

  • Commit to less. 

Having too much to do often has to do with unrealistic goal setting and over-committing your time and energy. Are you overly ambitious? Are you not being realistic about your goals and what you can do?

  • Say NO more often.

People who are overwhelmed spread their energy too thinly. Often, it’s hard for them to say “no” because they fear disappointing others. When you feel scattered and pulled apart in a lot of different directions, are you willing to pull yourself back in and say “no” to others? Are you ready to get more comfortable saying no?

  • Limit yourself. 

Be willing to focus on just a few things at a time. Put limits on certain activities that aren’t important. By limiting your time and energy for specific endeavors, and not allowing yourself to get lost in the day-to-day, you can create more time and space in your life. Limit the number of emails, FB time, talk time, any activities that consume the unproductive time in your life. The paradox is that by creating more discipline and limitation in your life, you create greater freedom.

  • Re-imagine a new schedule.

Imagine a new lifestyle from scratch. If you made your business effectiveness, health, and happiness a priority, what would a perfect day look like? What would an ideal week look like?’ 

Being overwhelmed is not a fact — it’s a state of consciousness that limits your freedom and happiness. It requires a shift in perspective. Often, when you’re feeling overwhelmed, you’re over-thinking everything that needs to get done. You’ve lost yourself, and you’re no longer present. 

Instead of seeing the things outside of you having power over you, be willing to stop and regather yourself. Bring yourself back to the present moment. Remember that you have a choice about the way you want to feel.

 

 

5 Ways Not To Be Broke On January 1

5 Ways Not To Be Broke On January 1

There are 84 days left in 2019 and 60 productive working days, depending on how many days you work, how many holidays you celebrate, and so on. Regardless you have about 84 days to wrap up 2019. 84 days!

What will your bank account look like on January 1 of 2020? Is it your desire to have a more significant bank account or a smaller one? Whatever your goal is, NOW is the time to make that happen.

The next 60 days will be critical for setting yourself up for strong close to 2019 and a fast start to 2020. What you do in the next few days and weeks will determine the size of your bank account on January 1 and your momentum for the first quarter of 2020.

CHALLENGE 1: What would happen to your business if, for the next 20 working days, you made one new appointment each day?

Let’s face there are two types of agents today: hobbyists and CEO’s. This article is not for hobbyists, those part-time agents who dabble. For those of you that run your business like a business, those of you that know your daily number and know what it takes to generate one sale, then this article is for you.

CHALLENGE 2: Get clear about the next 84 days:

  • Write down the number of sales you’ve made so far this year.
  • Write down the source of those sales.
  • How many listings will you earn between now and the end of the year?
  • How many additional families or investors do you want to serve between now and the end of the year?
  • How many contacts do you need to make to drive that number
    • One rule of thumb is 40 contacts to 1 sale.
    • Who are they, and how will you go about connecting with them?
  • What systems do you have in place to create the result you desire?

After completing the quick exercise above, here are 5 actions you can take so you’re not broke on January 1:

  • Decide Now. Decide now how many days you will work, how many days you will be off, and how many “flex days” you’ll have between now and the end of the year. Decide what direct response marketing campaigns you will run. For example, if you will create an investor campaign to take advantage of year-end investment buyers.
  • Up your CRM game. There is no excuse for not having your CRM updated and working for you. It takes discipline; yet once you realize your CRM is the engine that drives your train, that task becomes less negotiable.
  • Delegate. Is it time to find some help? An office or virtual assistant. Your highest and best use is prospecting.; lead generation; going on appointments and negotiating contracts. Everything else delegate. Scared? Get resourceful, many new agents I know are sharing a fractional assistant to split cost yet keep them fully employed.
  • Diversify your lead generation sources. Too many struggling agents rely on ONE, maybe TWO lead sources. FOUR sources of business – split between influence strategies and control strategies – provides diversity and stability to your real estate practice. Note, don’t add four sources all at once. Start with one new source, get it working and stable then add another until you reach four sources.
  • Target Market Clarity? Any market rewards the hyperlocal expert. Are you an expert in a community? Are you an expert in a profession like Nurses, FBI agents, CPA’s? It’s probably time to get hyperlocal and specialize.

So, I’ll leave you today with three final things to consider: 

  1. Knowing what you know now, what immediate adjustments do you need to make?
  2. Cash is king. Are you building your cash reserves? Are you reducing bad debt? Investing in marketing? (Hint: You can do all 3.)
  3. Have you started a small weekly accountability group with like-minded, goal-oriented CEO’s like yourself? If not, what’s holding you back?