Ok Realtors, are you fully up to speed on how credit scores are calculated? It's important to be conversational about credit when reviewing the topic of home financing with your clients. Understanding the nuts and bolts of credit scoring isn’t just about adding another skill to your arsenal—it's about deepening trust with your clients. As Realtors, speaking with some confidence on this topic help you demonstrate your industry competence, making you a more attractive agent ...

Over the past 5 months, Lockbox has posted primers in the economics that drive our industry. Today’s subject is interest rates: how they are determined and how they impact the residential home sales industry.    The Basics: Federal Funds Rate   In a previous blog post, you learned about the importance of the Federal Funds Rate. As a refresher, it’s the rate the Federal Reserve sets at which banks can lend money to each other, ...

Why are we in the business of selling houses? To make money. We are independent contractors and this is our business. Understanding the fundamentals of how profit happens is critical to making our businesses as successful as possible.    The great news is that at the highest level, there are only three different factors that impact the profit - and profitability - of your business. Let’s identify them now:    1. Top Line Revenue: Gross ...

How do you date an 800 pound gorilla? If we're talking about 800 pound gorillas in the residential real estate space, we're talking about Zillow. Zillow is the single largest consumer brand recognized in the residential real estate space. They are here and they are here to stay. Everyone has an opinion about Zillow - I used to have a very strong opinion about Zillow. Then I thought "What is the opportunity with Zillow being ...

If you're like me, there's been a time where you didn't feel like you were totally in control of your real estate business. Sometimes that's because we're setting the wrong goals and setting ourselves up for failure. We're going to unpack that and fix that. Most of us set goals this time of year. We set goals like "I'm going to make $100,000" or "I'm going to sell 36 houses." Those are awesome - I ...

"I want to get a good deal on my next house" or "I'm not buying one at all!" Have you heard that one recently? We're going to hear it some more over the next few months. Here's how to reset your buyer's - who want a great deal in today's market - expectations. First, 66% of all people are visual learners, so if we want to communicate something quickly and efficiently, we want to give ...

If you're watching this video, you're probably a residential real estate agent. If you're like me, there have been times in your career where you've felt a little bit of anxiety around your personal finances. I hated that feeling, but it's real because we're on 100% commission. There is no salary. There is no consistency in our income. It's a horrible feeling, and I have spent years and years trying to solve for this feeling ...