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Making It Work—Together: Best Practices and Conflict Resolution for Real Estate Teams

Oct 7, 2019 by

For real estate agents just starting out, being part of a team can be a great way to launch and grow a new business. For experienced agents, putting together a team can add leverage and energy to an existing real estate business. For couples, friends or close colleagues, working together on a team can offer the opportunity to bring the strengths of each partner to bear on every transaction. So, what do you do when your team is struggling to work together?

Your ‘Better Teamwork’ Action Plan
Maybe your real estate team is suffering from internal conflict, frustrations from a slow market or unanticipated growing pains. Whatever the case, getting a handle on your issues and making a plan to get back on track involves honesty, communication and actionable strategies.

1. Get Real
For many people, the hardest part of handling problems is admitting that there’s a problem in the first place. All that simmering tension isn’t just going to go away. You have to address it and get everyone on board with working toward a solution.

Action:
Put together a workshop or retreat to give everyone a chance to fully address the issues and put together a plan for improvement.

2. Speak Your Truth
Conflict doesn’t magically go away if everyone isn’t making their opinions heard. You have to be willing to be honest with each other about things that are problematic or upsetting. This may mean some uncomfortable conversations with people you love and value, but in this case, honesty really is the best policy.

Action:
Emphasize the value of honest communication and keep the end result in mind.

3. Understand the Source of Conflict
Sometimes, personal conflict spills over into the workplace. It may be that the tension you’re feeling isn’t work-related, but personal. In that case, those relationships need to be mended to benefit the entire team.

Action:
Have an honest conversation with the people involved and offer support as they work out their differences.

4. Revisit Your Roots
Over time, you may find that you’ve forgotten the things that worked well when you were just starting out. Maybe you’ve begun to micro-manage or, alternatively, you’ve checked out and stopped taking an active role. Maybe your team used to socialize together, but that has fallen by the wayside.

Action:
Think back to the beginning when things were working well and see what has changed.

5. Take Steps and Check In
All this communication means little if you’re not taking actionable steps to improve the situation. Once you understand the problems, come up with a plan to address them. Maybe the solution involves a more equitable distribution of duties. Maybe it involves more facetime and better communication. Maybe you just need to bring in some support to take some of the operational burdens off your team members.

Action:
Put your plan into action and check back often to ensure that the steps you’ve identified are still being implemented.

A real estate team is built on relationships and needs to be nurtured like one. Show how much you care about your team by taking the time to address issues as they arise, be part of the solution and keep everyone operating at peak performance.

Yazir Phelps is the chief marketing officer at Real Estate Express, a national leader in online learning for pre-licensing, continuing education and professional development. Phelps has over 18 years of experience in marketing, fueling growth at Fortune 500 organizations, and over five years of experience working directly with real estate professionals. Her extensive background in generating demand for products and services encompasses crucial strategies for a successful career in the field. To learn more, visit www.RealEstateExpress.com.

The post Making It Work—Together: Best Practices and Conflict Resolution for Real Estate Teams appeared first on RISMedia.

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The Post Resolution Hangover

Mar 23, 2017 by

Today we address what appears to be the “Post Resolution Hangover” that the industry is going through right now.  Does it apply to you?  Tune in and see!

The post The Post Resolution Hangover appeared first on National Real Estate Post.

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How to Keep Your 2015 Homebuying Resolution

Jan 29, 2015 by

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If your New Year’s resolution is to take the leap and buy a home, you may be in luck. Whether you’re a first-time buyer or considering jumping back in, 2015 offers some encouraging signs after a tough time for the housing market.

Mortgage credit and underwriting requirements are thawing as the economy continues to recover. Government-backed mortgage giants Freddie Mac and Fannie Mae recently rolled out conventional mortgage options with a 3 percent down payment. And average interest rates continue to dip below 4 percent.

With conditions looking good for buyers, here’s a look at four tips to help prospective homeowners follow through on that resolution.

Get your credit in order

After years of tight lending, there are continued signs that mortgage lenders are loosening credit requirements. The average FICO score for a closed loan in 2014 was 726, compared to 738 the year before, according to mortgage software firm Ellie Mae.

Buyers without top-tier credit scores may now have a better chance to secure loans. While benchmark scores for conventional loans hover around 720 or higher, FHA and VA loans usually require about a 620.

While the mortgage market has been volatile, credit-building strategies remain the same. Get free copies of your credit report from AnnualCreditReport.com. Scour them for mistakes, bad accounts or other issues.

Some consumers work to pay down high-interest debt, while others try to build momentum by focusing on smaller accounts. Choose the strategy that best fits your lifestyle and budget.

Low down payments and interest rates are great, but you can’t tap into either without first clearing a lender’s credit-score hurdle.

Build a nest egg

Buying a home comes with a host of potential upfront costs. Even with reduced requirements for down payments, putting 3 percent down on a $ 150,000 loan means you’re parting with $ 4,500 on closing day. You may also need money for an earnest money deposit, inspections, appraisals, closing costs and more.

Upfront costs will vary based on a variety of factors, including the lender and the loan type. FHA loans require a 3.5 percent down payment, while qualified veterans and service members can use a VA loan to purchase with no money down.

Be sure to create and stick to a budget that allows you to put some money into savings each month. Having healthy assets puts you in solid position to purchase a home this year and deal with upfront and unexpected costs along the way. It will also make your loan file look that much stronger.

Learn about loans

Get a solid understanding of the mortgage options you might qualify for, along with their benefits and drawbacks.

No down payment or not paying private mortgage insurance are big-time benefits; however, only a small portion of the population is actually eligible for a VA home loan. But you may be able to secure a zero-down loan using the USDA home loan program.

If you can swing a 5 percent down payment but come up short on credit, FHA financing might be an easier path than conventional loans.

Consider the pros and cons of each in the context of your own financial situation and your short-term and long-term homeownership goals.

Get preapproved

Loan preapproval is critical in the current home-buying climate. This step involves more paperwork and documentation than prequalification, but it gives buyers a clear sense of their purchasing power and what they can realistically afford. It also shows sellers and listing agents that you’re a serious buyer likely to make good on an offer.

Following these steps can help you on your way to fulfilling your New Year’s resolution and let you head into 2016 as a new homeowner.

 

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Resolution: Make Your Content Experience Work for Your Future Buyer

Jan 2, 2014 by

As we begin a new year, no doubt you are experiencing new hopes, wishes, and dreams when it comes to getting the most out of your web presence. The blank slate of a January calendar is a refreshing chance to hit the pause button and begin anew in all aspects. Throughout this past year, it […]
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Temporary resolution of debt ceiling crisis has paved the way for a bipartisan budget

Oct 18, 2013 by

Now that Tea Party has shot its wad, president and mainstream Republicans can get down to business

Merry Christmas! We will be free of renewed budget crisis until January. Party, party, party.

A few inconveniences remain from this last shutdown round, and a few small piles of smoking wreckage, but also a lot of good news.

We will finally get September employment data next week, then on Nov. 1 the October numbers. Will these all-important reports be distorted by the shutdown? Sure. How? No idea.

There is a chance that this data-blind period will muddle some significant change in the economy, but it’s more likely to be on the slow side as a shutdown effect. Then again, the shutdown might have concealed or briefly delayed an acceleration.

Thus the credit markets will be nervous and volatile for months. The Fed will cobble together its own internal view, but post-shutdown interest rates are sliding slightly in expectation that the Fed will continue QE untapered, at least until it has decent economic data.

During regime change from Bernanke to Yellen the Fed is not likely to do anything dramatic anyway.

Give up on all of that overthinking. Stick with bond market simplicity: Through all of the media crisis-porn and lurid anticipation of U.S. default, the Treasury bond market didn’t move an inch.

No professional took any of that crap seriously, here or overseas. The 10-year T-note, the ultimate measure of risk, stayed between 2.7 and 2.6 percent.

The good news: Millions of Americans who had tuned out the federal government years ago tuned it in, horrified. State and local governments have been worthy of attention, solving problems in the last decade, but Washington is a posturing bore.

The shutdown reminded us that Washington matters, and it listens to public opinion.

What really happened in the last-minute resolution?

Headline in New York Times: “Republicans Back Down.” In the Wall Street Journal: “Congress Strikes a Debt Deal.”

Thus spake the wings of the mainstream media, each partly correct. Two big things happened.

First, when President Obama said, “There were no winners,” he seemed to include himself for once, not just the undergraduates and Law Review staff.

The president has been in a nonproductive standoff with House Republicans for two years — with all of them, not just the Teapots — and now knows that he can spend the next three years getting nothing done, or deal.

That 87 House Republicans joined 198 Democrats to break the jam on the first try at a vote on a clean bill (and at least half of the 144 Republican nays would have joined the ayes if the deal was at all close) demonstrates that there’s a working, bipartisan majority to pass sensible centrist budget and tax proposals next year.

Second, and linked: Mainstream Republicans for the first time formally broke with the Teapots.

Many people don’t like John Boehner, and don’t understand his conduct in the last two weeks. He gave the Teapots time to come to their senses, and then enough rope to hang themselves. They still do not understand that they are dangling in space. They think they have made a point and will gain strength in next year’s primaries.

In the unique deafness of fools, listening only to themselves, the Teapots cannot hear the cold dismissal by colleagues in their own party — let alone the angry contempt in which the political center now holds them: You … peabrains … would hold this nation hostage? To make a point?

You made it, all right. To witness the magnitude of defeat, catch a few minutes of Fox’ Sean Hannity, disbelieving his own post-disaster bluster.

When Congress and the president go back at this, it won’t be any prettier than usual, but has a good chance to be productive. It may be incremental, but lost trust is always restored in increments.

Printed under Thursday’s Wall Street Journal headline was a chart of the debt limit: In the last 20 years, it’s been gradually raised from $ 4.9 trillion to $ 16.7 trillion. Nobody’s fault and everyone’s — war, financial crisis and procrastination.

As big as that policy failure, the larger structural deficit from overpromised entitlements and insufficient tax revenue lies ahead.

If we can make progress, nothing would take more heat off the Fed and interest rates. And nothing would more restore confidence among citizens and business.

Lou Barnes is a mortgage broker based in Boulder, Colo. He can be reached at lbarnes@pmglending.com.

Copyright 2013 Inman News
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