Real Estate and the Millennials-Attracting Talent

Real Estate and the Millennials- Attracting Talent Thanks for returning back to my blog on Real Estate and the Millennials. Today it’s about, “Attracting Talent”. So how do we attract millennial talent and how do retain them? I’m constantly searching for more data so I can pass on better information about the millennials. For the […]

Real Estate and the Millennials- Attracting Talent

Thanks for returning back to my blog on Real Estate and the Millennials. Today it’s about, “Attracting Talent”.

So how do we attract millennial talent and how do retain them? I’m constantly searching for more data so I can pass on better information about the millennials. For the most part I’m trying to be more effective in coaching them in real estate careers. In my research, with no big surprise, the data points to better communication as being the key element. I think one thing that’s become very clear to me is this fact; we as baby boomers created the millennial. We were the generation that gave awards to our kids for participation before results. We were the soccer parents that took our weekends to make sure our kids were exactly where they needed to be even when it required us to put our plans on hold. We were the ones that instilled in them an attitude of entitlement. It is what it is, so why are we surprised that their attitude of entitlement has manifested itself in the workplace? Is it necessarily a bad thing that they are who they are?

Millennials attracting talent If it was important for us to treat our children differently than we were treated, doesn’t it make sense that we treat our business subordinates in a way that we would have liked to have been treated? It’s just a thought. So we have to realize that, in the work place, we should continue on with that level of support and recognition that we willfully bestowed on our children and graciously offer that to our millennial business associates.

Already some of you have that feeling of crimson creeping up from your neck to your ears. Let me ask you this, do you want and need a business that works with the insight and talent of Millennials or do you want to stand your ground and find the 1% that will lose their soul for your cause? Looking back, now at the age of 53, I thought you could get ahead by losing your soul. Honestly I wish would have been more selfish.

Anyway, I’ve found this incredible youtube that explains a lot about Millennials. It’s called “6 Strategies to Connect with Gen Y/Millennials in the Workplace”. Watch this it is really insightful.

So I promised you that I would share a question and answer I had with my favorite Millennial, my son, about what would attract him to a real estate career. Here’s how that went.

Question: If I was trying to recruit you to a real estate career what would be the some of the top things you would be looking for?

Answer: The more I thought about it I realized that you are dealing with the “ask generation”. Whether it’s through people or the internet, my generation has gotten accustomed to always getting an answer to any question that we have so keep that in mind. As far as the real estate career question is concerned, there are a couple of thoughts that come to mind. One, the money and always being able to make more is a big deal. I agree with one article I read that hit the nail on the head when it mentioned that millennials work to live not live to work. We will never devote our life to only work. We want to show up, do a good job, get paid for it, then go home and enjoy other things. Unpaid overtime is a bazar concept that no millennial will ever be okay with and with a real estate career, that’s a thing that doesn’t really exist. I’d also be looking for places that aren’t going to be taking a larger portion of my commission if it can be helped. The reason millennials jump companies a lot, at least in my eyes, is people want to nickel and dime us, not offer raises, etc. So we will go somewhere else that offers us more attractive benefits or more money compared to other companies. Offering mentoring and help that leads to success and helps build us up and become confident in what we’re doing is huge. I personally want to know the ins and outs of everything I’m doing so I’m not reliant on someone else. Don’t know if any of that helps or not but those are a few.

That’s great insight. If you read this with an open mind, it just makes sense. Please comment on your thoughts and any insight you may have. Millennials please chime in. In short this blogger feels not only are you our future, but we will benefit from you greatly in the workplace. That’s only if we take on the responsibility to improve on our communication skills. Until next time.

List to Last-The A.B.C. Listing Presentation

List to Last-A Blog Series: By Rick Guthrie #2. The A.B.C Listing Presentation I hope you’re using a great Rapport Building Script like I outlined in my last blog. So let’s move forward and talk about your listing presentation or conversation which is what I like to call it. Years ago I realized that sellers […]

List to Last-A Blog Series:

By Rick Guthrie

#2. The A.B.C Listing Presentation

I hope you’re using a great Rapport Building Script like I outlined in my last blog. So let’s move forward and talk about your listing presentation or conversation which is what I like to call it.

Years ago I realized that sellers prefer to hear information in a certain order. If you ask yourself what would be the first thing a seller would want to hear? Well the answer of course is what their home is worth. Enter my A.B.C. listing.

The first section is the “A” section or “Agreement on Price”. I’ve found that if you’re talking about anything else first, at your listing appointment, the sellers are not really listening. So if I’m giving them my marketing plan first and they’re wondering what their home is worth at that point my information on my marketing plan is not really getting through. So in my “A” section I’m explaining in detail the pricing on their home backed up with comparable properties and illustrating why the market will bear that particular pricing strategy. Once I’ve done that I get their agreement before I move on. Once I get an agreement on price then I move to my “B” section.

The Listing The “B” section is for “Build Value”. This should define your marketing plan, your open               house schedule or whatever you do to bring them a buyer. Understand that when you get an  agreement on price a clock starts ticking. They’re wondering how much they’re going to put back in their pocket after they close. So move through this section quickly but still make it impressive and informative. If you do a pre-listing packet and drop it off it should be this Build Value Section or your Marketing Plan. When you get to this point in the conversation ask them if they’ve reviewed your marketing plan and do they have any questions. Then move on.

The “C” section quite simply is the Close. All this is for me is a customer estimated net sheet already filled out. Now I have a self-figuring net sheet and I know many do. It should be easy to explain and be padded with estimated buyer costs paid by seller. We want to show them worst case scenario what they’re going to be putting back in their pocket after a successful close.

After that is my closing question. You have to have a closing statement or question! Here is mine;

“Mr. and Mrs. Seller do you have any questions? No…. Great! When can we get your house in inventory?

If there’s any concerns they will come out then. I like to get all of the concerns or objections out on the table at the same time. One you should not hear is a pricing concern because we agreed on price 15 minute ago. Hmm you feeling the love.

I have a pre-made template and I teach this in a two day seminar so agents know it inside and out. The presentation is kind of plug and play. If you’re in the Northern Virginia area and you would like to attend, just email me at www.rickguthrie@kw.com and I’ll let you know when the next seminar is taking place.

As always, “You Have a Great Month Today”!

Confidence Comes From Training

Confidence Comes From Training At the Fairfax Gateway Keller Williams office, in Fairfax, Virginia there are training classes offered each day of the week.  Monday through Friday there is at least one class that goes on in the market center that you can attend. Ignite classes, the Listing it’s As Easy As ABC and Champion […]

Confidence Comes From Training

At the Fairfax Gateway Keller Williams office, in Fairfax, Virginia there are training classes offered each day of the week.  Monday through Friday there is at least one class that goes on in the market center that you can attend.

Ignite classes, the Listing it’s As Easy As ABC and Champion Title’s Builders Contract How To, just to name a few of the classes that are going on in the Fairfax Gateway Keller Williams office this month.  Contract Mastery class goes over one of the different aspects of the Virginia Contract each Tuesday at 1:30. Listings It’s As Easy As ABC is a two day seminar all about listing a home and how to give a great listing presentation to your clients.  In the class there will be a full listing presentation that will show you how a listing presentation should be done and to better prepare you to be the expert listing agent.

To be the best real estate agent you can be you have to have confidence and the best way to gain that is through training and practice.

If you would like to talk with me about moving to Keller Williams, ways to increase your business or just to introduce yourself please contact me. Look forward to hearing from you!

Fairfax Gateway

Tips for Keeping on Top of Quarterly Payments

Tips for Keeping on Top of Quarterly Payments When you’re earning business income throughout the year, chances are you’re going to have to pay estimated quarterly income tax payments. Whether you’re a sole proprietorship, LLC or corporation, these quarterly payments are due four times each year and the penalties for failing to remit them can […]

Tips for Keeping on Top of Quarterly Payments

When you’re earning business income throughout the year, chances are you’re going to have to pay estimated quarterly income tax payments. Whether you’re a sole proprietorship, LLC or corporation, these quarterly payments are due four times each year and the penalties for failing to remit them can be harsh.

Quarterly Payments

 

 

 

 

 

 

 

Keep your tax adviser involved in your income fluctuations so he or she can help you properly report and remit your taxes due. The typical due dates—which are not based on equal quarters—are:

Period Due Date
January 1 through March 31 April 15
April 1 through May 31 June 15
June 1 through August 31 September 15
September 1 through December 1 January 15 (the following year)
If the due date falls on a weekend or holiday, the due date is the next business day. Visit IRS.gov and search for Estimated Quarterly Tax Payments for more information about your type of business and the taxes due. In addition you can find remittance addresses or online payment options on the IRS web site.

Your Space…. "It is the Final Frontier"….

We’re back on my blog series “Plane, Space and Time”. Thanks for reading. by Rick Guthrie In my last blog we talked about how important it is to create a vision chart. The blog was entitled, “Charting Your Plane – It’s Your Vision”. Now I want to move into the “Space” section of our discussion. […]

We’re back on my blog series “Plane, Space and Time”. Thanks for reading.

by Rick Guthrie

In my last blog we talked about how important it is to create a vision chart. The blog was entitled, “Charting Your Plane – It’s Your Vision”. Now I want to move into the “Space” section of our discussion. Like I said earlier, “It is the Final Frontier”.

With all of the challenges I’ve had in my life, the ones that seem to be self-induced, are the ones that involved having the wrong people in my space. How did they get in there? If you’re driven and motivated you want to tell the world about what your vision is. Sometimes the world is curious and wants to come along for the ride. But do they deserve to be in your space?

I remember in college I was driving a beat up old Pinto. When I was getting ready to go into town, I suddenly had a lot of transportation challenged friends. Your space in a Pinto can get pretty cramped. Also several trips to town, acting as a free chauffer, can get pretty expensive. No one seems to offer to contribute. The screaming laughing crowd of your college buddies jammed into a small car with no seatbelts, no real agenda and an attitude that they will live forever can get a bit distracting and dangerous. I probably shouldn’t have let them in my space especially if they were not going to chip in.

My business relationships, in the past, have been a lot like that. I get real excited about a project or an idea and my excitement seems to draw a quick audience. That audience takes an interest and starts filling up my space. The question is, “What are they there for”? In the past, basically, I liked others being in my space. I liked sharing my excitement. Sometimes people in my space profited financially from being in my space. The question again is, “What were they there for”?

The reason SPACE is the true final frontier is that we’re finally starting to realize how important and expensive our little space is. The space I’m talking about is our vision, our thoughts and ideas. It’s like a piece of real-estate. I’ve finally learned that there has to be a reason for someone to be in my space. I’ve realized I need to be proactive in determining who I let in my space and who I choose to keep out. The only way I can do that is to have an organized plan that defines who and certainly why, someone should be in my space. Do they have a defined purpose for being there and what is it? Does that purpose bring me more money, more time, more creative leverage or all three?

If we don’t protect our space in our business and consistently ask who, what and why when someone’s in our space, we will develop squatters and then realize we are the only one that’s doing anything. The sad news is eventually we won’t be able to continue and the vision and dream will be gone. The interesting thing is that the squatters will be gone too!

So in our next blog we’re going to start the process of developing an organizational chart. We need to define who should be in our space and what qualifications will they need to possess to be there. Some of the most successful visionaries have this down to such a science; their names aren’t even on their own organizational chart. Think about that.

Blog you soon.

What's Ahead For Mortgage Rates This Week – June 9, 2014

Last week’s economic news was mixed. Construction spending grew, but fell below the expected level. CoreLogic reported that April home prices continued to rise, but did so at their slowest growth rate in more than a year. Employment reports for private sector and government jobs indicated fewer jobs, but the national unemployment rate was steady.

What’s Ahead For Mortgage Rates This Week – June 9, 2014

What’s Ahead For Mortgage Rates This Week – June 9, 2014

By: Rick Guthrie

Last week’s economic news was mixed. Construction spending grew, but fell below the expected level. CoreLogic reported that April home prices continued to rise, but did so at their slowest growth rate in more than a year. Employment reports for private sector and government jobs indicated fewer jobs, but the national unemployment rate was steady. Here are the details:

Construction Spending, Home Price Growth Slows

Construction spending reported by the Department of Commerce reached $953.5 billion annually, and increased by 0.20 percent month-to-month against expectations of an 0.80 percent increase and the March reading of 0.60 percent growth.

According to CoreLogic, the rate of home price growth slowed to 10.50 percent year-over-year in April as compared to the 11.10 year-over-year rate of increase in April 2013. Home prices increased by 2.10 percent over March; these gains in home prices were the slowest posted in more than a year, but there was good news.

No states posted a drop in home prices, and eight states posted new record highs for home prices.

CoreLogic said that although a short supply of available homes has driven home prices up, price gains lost momentum due to affordability; CoreLogic expects home prices to increase at a slower pace and projects that home price growth will reach a pace of 6.30 percent by April 2015.

Mortgage Rates Mixed

Freddie Mac reported that mortgage rates for fixed rate mortgages rose while the average rate for a 5/1 adjustable rate mortgage fell. The average rate for a 30-year fixed rate mortgage increased by two basis points to 4.14 percent; discount points fell to an average of 0.50 percent. The average rate for a 15-year fixed rate mortgage also increased by two basis points to 3.23 percent; discount points were unchanged at 0.50 percent. Rates for a 5/1 adjustable rate mortgage averaged 2.93 percent, a drop of three basis points. Average discount points rose from 0.30 to 0.40 percent.

Jobs, Unemployment Data Suggest Economic Strength

Labor markets impact consumer decisions to buy homes; several labor-related reports released last week indicated that the economy continued to gain strength as more jobs were added and fewer workers filed jobless claims.

ADP reported that 179,000 private-sector jobs were added in May as compared to 215,000 jobs added in April. The Bureau of Labor Statistics released its Non-farm Payrolls report for May; 217,000 jobs were added as compared to projections of 210,000 jobs added and 288,000 jobs added in April.

New weekly jobless claims were reported at 312,000 as compared to expectations of 311,000 new jobless claims and the previous week’s 304,000 new claims. The four-week rolling average of weekly jobless claims fell by 2250 new claims to 310,250; this was the lowest reading since June 2007, and was 10 percent lower than the reading for the same week in April 2013 and was 17 percent lower than for the same week in 2012.

Another sign of economic growth was reported last week. Continuing jobless claims dropped to a seasonally-adjusted annual rate of 2.60 million for the week ended May 24; this was the lowest reading reported since October 2007.

The national unemployment rate for May matched April’s reading of 6.30 percent, and was lower than projections of 6.40 percent for May. The Federal Open Market Committee of the Federal Reserve (FOMC) has repeatedly cited an unemployment rate of 6.50 percent as a benchmark indication of economic recovery; it appears likely that the Fed may continue its tapering of asset purchases as it winds down its quantitative easing program.

What’s Ahead

This week’s scheduled economic news includes Retail Sales, Retail Sales without vehicle sales, and the Producer Price Index. Freddie Mac mortgage rates and Weekly Jobless Claims will be released Thursday, and the University of Michigan will release its Consumer Sentiment Index on Friday.

How to Succeed Failing 99% of the Time

https://www.youtube.com/watch?v=7n-j9bpFfZ8 How to Succeed Failing 99% of the Time By: Rick Guthrie So if you have to fail why not fail and still succeed?  You must be thinking Rick, is that even possible?  Well if you are following me you already know my response will be, why not?  If you talk to 100 people a […]

https://www.youtube.com/watch?v=7n-j9bpFfZ8

How to Succeed Failing 99% of the Time

By: Rick Guthrie

So if you have to fail why not fail and still succeed?  You must be thinking Rick, is that even possible?  Well if you are following me you already know my response will be, why not?  If you talk to 100 people a week and only get one client out of those 100 contacts that amounts to one client a week and there are 52 weeks in a year amounting to 52 clients a year just from cold calls, emails or talking to people.  52 clients a year when you are failing 99% of the time isn’t bad at all.

succeed failing

Why Not

Why Not? By: Rick Guthrie Today Rick the Team Leader at the Keller Williams Fairfax Gateway office discusses the difference between the why and why not agents out there.  Are you looking around at what others are doing and thinking “Why should I do that?” or are you thinking “Why not do that?”  When you […]

Why Not?

By: Rick Guthrie

Today Rick the Team Leader at the Keller Williams Fairfax Gateway office discusses the difference between the why and why not agents out there.  Are you looking around at what others are doing and thinking “Why should I do that?” or are you thinking “Why not do that?”  When you find yourself with a task that causes you to think why should I do this, you should think about the pros and cons of  the possible outcome of completing that task.  More often than not your going to get some sort of a reward from the task.  So don’t waste your time asking why and go straight to why not.