JPAR – JP & Associates REALTORS®
Business Plan Failures

Business Plan Failures

It’s that time of year where we are finalizing and shaping up our 2020 business plans. It’s an exciting time of dreaming, planning, and strategizing what’s possible. Here’s a couple of things to consider as you look to see what’s missing from your plan so you can minimize failure and maximize success:

EARN MORE LISTINGS

If you want to run an efficient real estate business, focus on gaining more listings, not more buyers. Double down on listings in 2020.

Remember that age-old saying? Whoever lists the most properties, wins!”

Listings require less time and allow you more scheduling flexibility… you don’t have to work around the clients’ schedules nearly as much as with buyers. You can also be more confident in your ability to collect payment as a seller’s agent than as a buyer’s agent. We’ve all had buyers cut us out of a deal at one time or another. And even with a buyer’s brokerage agreement, forcing payment of commissions can quickly get contentious. It’s a headache you don’t need.

One of the best resources I’ve run across for a listing system is Hoss Pratt’s book LISTING BOSS.

So, work with well-qualified, sense-of-urgency buyers, but focus your efforts on earning listings from sellers.

CHECKLISTS FOR EVERYTHING 

Aren’t you glad pilots have checklists? Even after hours and hours of detailed training and years and years of practical experience before every takeoff, before every landing and during every flight, pilots & crew follow a #checklist.

Checklists are “job aids” to reduce failure… to reduce variation in a process. A method of leaving nothing to chance.

Checklists ensure you get your daily, weekly, and monthly tasks done on time, helps you keep track of projects on deadline, and provides you’re organized throughout the day.

Are you leaving your goals, your business to run by chance by “winging it?”

TECH TO STREAMLINE YOUR BUSINESS AND PRODUCTIVITY 

There is a technology solution for everything. From your CRM to your calendar and tracking systems, even social media applications can simplify your life and add productivity to your business.

So, here is my one question? Are you using everything you need to streamline your business and lessen the burden on you? What’s the one tool you can master in the next 30 days?

HIRE HELP

Have your goals outgrown your current abilities? It might be time to hire an assistant. Does your business endure peaks and valleys because you sometimes get “too busy” to manage your marketing efforts?

Hiring your first employee can be filled with fear, yet so rewarding. Watch this video interview to see how a fellow agent doubled her business by taking this critical next step.

A Marketing Coordinator is a quarterback all of your marketing efforts to keep leads rolling in regardless of how busy you get. That way, you don’t suddenly find yourself wondering where your next client will come from when the next busy spell is over.

Getting help in your business will free you up to focus on critical, dollar-productive activities such as booking appointments, going on appointments, and negotiating contracts. These positions don’t necessarily need to be full-time. If you need to start with part-time help, share with another agent, arrange with someone to work on a part-time basis.

LEAD SOURCES AND CONVERSION

Are you casting a wide enough net to achieve everything you want to achieve?

Regardless, If you run an influence strategy business (mostly referral) or a control strategy business (mostly lead creation), agents who rely on one to three lead sources do not fare as well as those who have four to six sources.

We recently conducted a study of our top 100 agents and found – even the best of the best – missed over 30% of prior customer sales opportunities. What if you implemented a lead-nurture program that engaged people with the valuable information they need and want, and in turn, demonstrated your value?

Business planning is nine parts execution and one part strategy. The rest of this year and 2020 is yours to create, and now is the time to set those plans in motions. Consider this, your system will produce what a system will produce, nothing less nothing more. If you are not happy with your results year to date, update your system so you can create the best year ever.  

 

The #1 Reason to List Your House in the Winter

The #1 Reason to List Your House in the Winter

Many sellers believe spring is the best time to put their homes on the market because buyer demand traditionally increases at that time of year. What they don’t realize is if every homeowner believes the same thing, then that’s when they’ll have the most competition.

So, what’s the #1 reason to list your house in the winter? Less competition.

Housing supply traditionally shrinks at this time of year, so the choices buyers have will be limited. The chart below was created using the months supply of listings from the National Association of Realtors.

As you can see, the ‘sweet spot’ to list your house for the most exposure naturally occurs in the late fall and winter months (November – January). 

Temperatures aren’t the only thing that heats up in the spring – so do listings!

In 2018, listings increased from December to May. Don’t wait for these listings and the competition that comes with them to come to the market before you decide to list your house.

Added Bonus: Serious Buyers Are Out in the Winter

At this time of year, purchasers who are serious about buying a home will be in the marketplace. You and your family will not be bothered and inconvenienced by mere ‘lookers.’ The lookers are at the mall or online doing their holiday shopping.
Bottom Line
If you’ve been debating whether or not to sell your house and are curious about market conditions in your area, let’s get together to determine the best time to list your house.
JP & Associates REALTORS® Awarded Top 10 Best Places to Work for Fourth Year in a Row

JP & Associates REALTORS® Awarded Top 10 Best Places to Work for Fourth Year in a Row

In a recent announcement by the Dallas Morning News, JP and Associates REALTORS® was awarded the #6 spot out of 100 Dallas and Fort Worth best places to work.  Additionally, this is also the company’s fourth year in a row to be recognized as a top 10 recipient.  Having been recognized for a multitude of milestone achievements this year including its rapid growth, JPAR continues to provide an attractive culture for its staff and agents across the US.

“For the fourth year in a row, our company has been recognized as one of the top 10 most desirable places to work in the DFW-Metroplex,” said Giuseppe ‘JP’ Piccinini, Owner/Founder, JP & Associates REALTORS®. “That’s really saying something.  I am humbled and honored to see our staff and associates recognize our culture, which we relentlessly focus on improving each year. Growth and expansion do not have to come at the expense of culture, and we are committed to a culture in all that we do.”

For the Dallas Morning News, it was the 11th anniversary of the award.  Nominated in the Top Large Companies category, JP & Associates REALTORS® solidified their top 10 spots alongside other reputable businesses in the DFW area, such as Edward Jones, the Gaylord Texan Resort & Convention Center, and T-Mobile.

“Consistently growing year-over-year is not an easy task,” said Mark Johnson, CEO of JPAR’s company-owned stores.  “However, by providing a culture in which our staff and agents enjoy and continue to prosper, we remain an ideal choice across multiple industries.  Our team does not focus on merely exceeding the expectations of our customers and clients, but also, to one another.”

JP & Associates REALTORS® (JPAR) is known for their acclaimed culture revolving around productivity and service. It is no wonder JP & Associates REALTORS® has gone from the #1 independently and privately held brokerage in Texas to the fastest-growing 100% commission brokerage and franchise in the USA, as well as ranking as the 50th brokerage worldwide for home sales by REAL Trends. In 2018, JPAR trademarked the term “Exceeding Expectations™,” relentlessly going above and beyond for both their agents and clients. Now franchising across the USA, JPAR Franchising is set to take the USA by storm after entering 9 new states in its first six months.

JPAR operates multiple offices across Alabama, 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.

 

Episode 88: Lacy Rushin – The “3 Basics”

Episode 88: Lacy Rushin – The “3 Basics”

In this episode of Success Superstars, Lacy Rushin shares how the organizational skills she learned while teaching proved to be practical in her transition of running a real estate practice.

Lacy explains how mastering emotional intelligence sets the tone for the client relationship and avoids unnecessary tensions. Lacy also lays out how her first year was all about self-empowerment and setting up “3 basics” for her business.

“My leadership approach is modeling and inviting my clients to have this experience with me. It’s all about the client experience. ~ Lacy Rushin, JP and Associates REALTORS®

Now available on the go: listen to inspirational stories on all podcast platforms including Apple Podcasts, Google Play, Spotify, just search ‘Success Superstars’ anywhere you listen to your favorite podcasts.

3 Reasons This is NOT the 2008 Real Estate Market

3 Reasons This is NOT the 2008 Real Estate Market

No one knows for sure when the next recession will occur. What is known, however, is that the upcoming economic slowdown will not be caused by a housing market crash, as was the case in 2008. There are those who disagree and are comparing today’s real estate market to the market in 2005-2006, which preceded the crash. In many ways, however, the market is very different now. Here are three suppositions being put forward by some, and why they don’t hold up.

SUPPOSITION #1

A critical warning sign last time was the surging gap between the growth in home prices and household income. Today, home values have also outpaced wage gains. As in 2006, a lack of affordability will kill the market.

Counterpoint

The “gap” between wages and home price growth has existed since 2012. If that is a sign of a recession, why didn’t we have one sometime in the last seven years? Also, a buyer’s purchasing power is MUCH GREATER today than it was thirteen years ago. The equation to determine affordability has three elements:  home prices, wages, AND MORTGAGE INTEREST RATES. Today, the mortgage rate is about 3.5% versus 6.41% in 2006.

SUPPOSITION #2

In 2018, as in 2005, housing-price growth began slowing, with significant price drops occurring in some major markets. Look at Manhattan where home prices are in a “near free-fall.”

Counterpoint

The only major market showing true depreciation is Seattle, and it looks like home values in that city are about to reverse and start appreciating again. CoreLogic is projecting home price appreciation to reaccelerate across the country over the next twelve months.

Regarding Manhattan, home prices are dropping because the city’s new “mansion tax” is sapping demand. Additionally, the new federal tax code that went into effect last year continues to impact the market, capping deductions for state and local taxes, known as SALT, at $10,000. That had the effect of making it more expensive to own homes in states like New York.

SUPPOSITION #3

Prices will crash because that is what happened during the last recession.

Counterpoint

It is true that home values sank by almost 20% during the 2008 recession. However, it is also true that in the four previous recessions, home values depreciated only once (by less than 2%). In the other three, residential real estate values increased by 3.5%, 6.1%, and 6.6%.

Price is determined by supply and demand. In 2008, there was an overabundance of housing inventory (a 9-month supply). Today, housing inventory is less than half of that (a 4-month supply).

Bottom Line

We need to realize that today’s real estate market is nothing like the 2008 market. Therefore, when a recession occurs, it won’t resemble the last one.

 

Episode 86: Edith Melendez – How to Sell to a Millenial and The Power of Tools

Episode 86: Edith Melendez – How to Sell to a Millenial and The Power of Tools

In this episode of Success Superstars, Edith Melendez sits down with Mark Johnson to discuss how to leverage any skillset into Real Estate.

Having worked in banking for years, Edith has been able to provide buyers and sellers with ‘behind-the-scenes’ expertise and detailed explanations of the whole process that most professionals in the industry can’t match. She felt inspired by being able to take control of her own professional success and to give back in ways that a corporate job wouldn’t have allowed her to. Edith talks about how to sell to millennials and the power of tools like owning targeted landing pages and Facebook Pixels.

” The best things in life don’t come easy. It’s all mind, it’s not so much the physical or sweat equity. Stop thinking poor or otherwise, you’ll be poor. If you want to get to certain places in life, you have to put in that work, no matter what’s going on on your personal life.” – Edith Melendez, JP and Associates REALTORS®

Now available on the go: listen to inspirational stories on all podcast platforms including Apple Podcasts, Google Play, Spotify, just search ‘Success Superstars’ anywhere you listen to your favorite podcasts.

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