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I Was You! Or Maybe You Were Smarter Than This.

Wednesday, September 19th, 2012
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By Rich Levin
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Two weeks ago we successfully moved our home and offices from Rochester, New York to Atlanta, Georgia. We sold our house in Rochester (after a year on the market). We are now renting in Atlanta (Toco Hills) while we look for a house. As an expert in Real Estate I thought I’d share some of the insights and experiences. In many ways I felt and behaved like any other Seller and Buyer. In other ways, my knowledge and experience gave me an advantage. You, as Sellers, Buyers, and Agents may find this useful, perhaps interesting.
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You’re an Expert.  Why Did it Take a Year to Sell Your House?
That’s an easy question to answer. We overpriced our house. When an Agent does all of the things that normally sells a house and it doesn’t sell. It is one of three things: location, condition, or price. Since you can’t change the location you have to change the price. You can change the condition. If that doesn’t sell it in two or three weeks, then all you are left with is the price. We didn’t change our price hoping someone would overpay for our house because we were not under pressure to sell and move.
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It is a common mistake for an Agent to say, “This house priced right.  It’s just not selling.”  That is a naïve and amateur statement for an Agent to make.  By simple definition if a house is “priced right” it will sell.
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When the feedback from people who looked at your house is that, “The bedrooms are too small.”  “We want a larger yard.”  or any other structural comment; when you get this feedback consistently the true message is that the Buyers are confident they can get that feature in your area for the price you are asking. In other words, the house is overpriced for what it offers.
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You’re an Expert.  Why Did You Overprice Your House?
We had one of the biggest homes on the street, the only two car garage, a killer master bath and we thought all that and more would get us a lot more than the other homes that sold. Once we reduced the price to the price our first Agent had told us a year earlier, it sold to the next Buyer that looked at it. Our first Agent was right. Our ego attachment to our home was wrong. (at least wrong for the purpose of selling)
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The other factor is that we were not eager. We were motivated but not eager. We were moving to be in a warmer climate closer to our son, his wife and their new baby. A year later with a second grand child on the way and the baby having become a speaking toddler we became eager to get with them before the next baby was born and not spend another winter in the north.
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Now, It’s Time to Buy.
We made two buying trips to Atlanta when our home was not sold. We made offers on two homes. One we didn’t buy after a very bad inspection. The second sold to another Buyer who was willing to pay more. We decided to rent with a clause in the lease that we could vacate to buy a home with sixty days notice. (We paid $800 to have that clause in the lease.) Now that we are here we realize that up until now we were feeling pressure to make compromises in order to buy in a certain timeframe. That pressure is gone and we are more eager and more excited to buy what we really want with less compromise.  Buying has turned from a chore into a pleasure.
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So What?
Is this helpful to you? I’m not sure. It’s honest and it’s real. I’ll let you as Sellers, Buyers, and Agents decide what lessons may be learned from it. We are living in the warmth, five minutes from people we love, with no regrets. Hmmm, yes, I believe I can say with no regrets. If we had waited longer to sell or bought the wrong thing more quickly, then I can imagine regretting those decisions.
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Rich Levin is a National Real Estate Expert now living in Atlanta, Georgia. For information contact Rich at 585-244-2700 or rich@richlevin.com. Website: www.RichLevin.com

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Buyers Beware (Sellers too)

Wednesday, September 19th, 2012
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By Rich Levin
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This is the strangest Real Estate Market in recorded history. Buyers can make huge mistakes while at the same time there is tremendous opportunity for them. Sellers too can make huge mistakes while at the same time this year offers more opportunity than the past five.
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Buyer Danger
The risk for Buyers is overpaying for a house. The market is active. For the first time in years houses in many areas are receiving multiple offers. That can lead a Buyer to overpay.  Buyers who overpaid in 2006 and 2007 are losing their houses to foreclosures and short sales or taking extraordinary personal losses.
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At the same time mortgage interest rates are reaching new historic lows. During a brief moment last year when it looked like the economy was recovering interest rates quickly rose to over 4% and were on their way further up when the economic slowdown drove the rates back down. This was a clear indication that as soon as there is recovery we will not see these rates for the foreseeable future.
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Regarding property values we believed we had seen the bottom of the market a couple of years ago and in fact we did. Prices dropped from the 2007 through 2010 and have remained relatively stable since. Residential, owner occupied single family homes are driven by supply and demand. There are not less people. The income and unemployment rates are remaining stable.
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Residential rental property is seeing a boom in many areas. So, if you are in a position to invest and you are willing to deal with property condition and tenants; that is the place that investors with cash are putting their money.
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Seller Danger
Notice this does not say homeowner danger. If you are happy in your home and have no desire to move to another home, or the need or desire to move out of the area, your home is still your best investment. However, if you are selling and moving you are very likely to be disappointed with the value of your property. Homes are selling in record numbers.  However,. few Sellers are happy with the price they are receiving. The danger is in overpricing.
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Buyers are very well informed about property values. The Internet offers a myriad of websites with information on sale prices and property values. The digital information is more accurate than ever. The days of finding an uninformed Buyer are over. That means that homes even marginally overpriced will receive few showings and no offers. When a property remains for sale for months it takes on a stigma among the Real Estate Agents and the buying public. It is called “Market Wear.”  This causes the property to sell for even less. Price your property right at the beginning. Be careful that your Real Estate Agent does not overprice just to make you feel good about them and hire them. You want an Agent who has done a thorough job of determining the most likely sale price.
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At the same time if you are selling and buying you can feel somewhat better about the disappointing value of the home you are selling because you are likely to more than make up for it with your purchase. This is particularly true if you are moving up to a higher price range. In most areas the higher price range houses have declined in value proportionately more than the modest price ranges.
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Find Good Professionals
Not all Real Estate Agents or Lenders are created equal. This is a risky market. You want to find the Real Estate Agent who is smart, experienced and responds quickly to you. The market is busy for the best Real Estate professionals. So you want them to demonstrate that they will be responsive to you by returning your communications quickly.
You want to find and work with a lender who is responsive and has a thorough understanding of the increasing regulations that impact a Buyer’s ability to finance. Expect the process to be cumbersome and messy. The rules are changing regularly. Even the best lenders are continuously required to adhere new underwriting guidelines.
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It is the Best of Times and the Worst of Times
From our economy to our politics there is more opportunity and more disappointment than we have experienced in most people’s lifetime.  If you have the intestinal fortitude (guts) and desire to take advantage of a Real Estate market, that market is now.
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Rich Levin is a National Real Estate Expert now living in Atlanta, Georgia. For information contact Rich at 585-244-2700 or rich@richlevin.com. Website: www.RichLevin.com

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All Bets Are Off–In Six Months…Who Knows…But now!!!

Wednesday, June 13th, 2012

By Rich Levin

It’s an election year.  Have you noticed?  Rumor has it that if Obama wins one set of things will happen and if Romney wins a different set of things will happen.  Either way, it feels like things will change.  Let’s all hope for the better.  Although for home Buyers it won’t get any better than it is right now.  For home Sellers better means that they will get more for their homes.  This is good for Sellers.  Better means that interest rates will rise.  This is good for the mortgage lenders.  But for the Buyers soft prices and low rates, the signs of this struggling economy make this the best time to buy.

And Buyers know it.  They are out in the market.  Houses are selling faster although not necessarily for more money.  In some price ranges Buyers are competing for houses; bidding prices higher.  In the next price range, just $10,000 or $20,000 higher or lower houses are languishing on the market with little activity.

“This is the type of Real Estate market that two years from now everybody is going to say, “I wish I had bought then.”

Financing

Interest rates are remaining around or below 4% on residential mortgage loans. Mortgage money is available with five percent down or less.  The Buyers do need to have steady employment, and a reasonable credit rating. The days of Buyers needing to prove employment, have some cash on hand and credit worthiness have returned.

Requiring stability of employment, credit and some cash is not the banks being cautious.  It is the way lenders have made decisions since paper money was invented.  Bottom line, solid Buyers can get the best rates and buy at what I believe is at or near the bottom of the market.

Inventory, Foreclosures & Pricing

Foreclosure properties are being purchased at a much higher rate as first time home Buyers and investors in market after market are deciding that we are near enough to bottom.

This Buyer and investor activity will create its own momentum.  As more Buyers and investors choose to buy the demand they create will stabilize and lead to market appreciation.

As Real Estate Agents you need to decide if you are comfortable recommending that this is the time for Buyers to buy, that prices may be at or near the bottom.  I suggest that we are at or near the bottom and the Buyers you encourage to buy over the next few months will be forever grateful for your advice.

Some Considerations

The Real Estate market, specifically for residential homes is typically not a speculative market.  The vast majority of people buy a house to live in it as their home, not to resell it for a profit.  Over the last forty years Buyers have come to expect that their home will build equity and appreciate in value.  But, the decision to buy is usually based on factors other than anticipated appreciation.  Buyers want to own the space in which they live.  The fact that this is a fabulous time to make that decision just makes the decision easier.

There is a continuous demand in most markets.  People graduate from school, get better jobs, get married and divorced, have children, upgrade and downsize, among dozens of other reasons that new Buyers come on the market.  These life events keep occurring.  However over the past few years many Buyers have paused.  They still want to buy but they are waiting.  Historically when there is a time that Buyers are reluctant to buy for any reason this creates a pent up demand.

As Buyers realize that it is a good time to buy but not necessarily for Sellers to sell; demand will begin to absorb and exceed supply.  Over the next year or two the additional demand is likely to lead to a Seller’s market.  Because of the severity and magnitude of the current housing supply this turn to a Seller’s market will likely be gradual.

Inflation: The X Factor

I remember a rapidly inflationary period.  I remember it for a funny reason.  I used to drink a lot of Coca Cola.  One day when I put a quarter into the machine to vend my Coke I realized that it was going to cost me forty cents.  Soon after that it was fifty cents and within five years it was seventy five cents.  Now it is at least a dollar.  This is inflation.  Your money buys less and the cost of what you buy increases.

If you owned Real Estate during this same period you were very happy because the property you owned in 1981 also doubled in price or more by 1986.  That is true even if you didn’t live in a highly populated area.  This inflationary period did not discriminate by locale.

Are we on the verge of another inflationary surge?  I don’t know.  I have been reading what I can find on this and it seems to be a largely ignored topic.  The people in our government and financial institutions openly talk about having little control.  I think about the trillions of dollars worldwide being spent on bailouts.  The definition of inflation is when the amount of money in circulation increases and the available goods decreases.  It seems to me that is what is happening.

If inflation does devalue our money then house prices, along with the price of almost all other hard goods will increase and this year’s Buyers are going to get benefit tremendously.

First Time Buyers and Investors

FIRST TIME BUYERS THIS IS YOUR TIME!

Another group that I am encouraging to buy now is investors of residential rental property.  Investors still have to do their investment analysis.  They still have to carefully look at occupancy and vacancy rates.  In other words, investors have to make smart, calculated buying decisions.  This is always the case.

The reason it is a good time for these investors is because the market is soft.  Rents are increasing, often by large amounts.  As long as there has not been a population exodus in your community, that is, as long as people are choosing to live in your community and employment is stable, the rental property is going to sustain value.  At the same time market conditions right now, with more challenging underwriting standards and only those who really need to sell putting their property on the market creates the opportunity all investors are looking for, buy low, particularly those with cash.

Get in the Game

One of my sons just closed on a new home for his family.  My other son is getting his Real Estate license because he is seeing so many people around him buying.  My Clients are Real Estate Agents all over the country that I coach and teach.  Selling multi-million dollar homes in Long Island, Southern California, half-Million dollar homes in thousands of places or sixty thousand dollar homes in rural and urban areas Real Estate Agent are busier than they have been in years.  The market is changing.  It will not be this good for Buyers forever.  Take advantage now, in six months, all bets are off.

Rich Levin is a Real Estate Coach with Clients across North America.  For information contact Rich at 585-244-2700 or rich@richlevin.com.  Website: www.RichLevin.com

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Flurries, It’s Raining Houses and Money

Wednesday, June 13th, 2012

By Rich Levin

Flurries

This time of year and this year (2012) in particular there will be a period of days or weeks when suddenly lots of houses will sell.  For no apparent reason, it may be good weather, a news story, mortgage interest rate change or the phases of the moon, we never know why suddenly a flurry of houses sell.  It may happen in just one price range, just one suburb or part of town.  The people who have their houses for sale benefit.  Often there are competitive offers driving the prices higher.  Sometimes a house that had no activity for weeks suddenly has an offer.

This year in particular with the election news, the European economy news, the stock market fluctuations, and all of this occurring with years of pent up demand from Buyers who have been on the sidelines make it an even more volatile year.  A year when you or someone selling their home does not want to be off the market when a flurry hits because it might be the best one of the year, or the last one.

Raining Money

Shockingly, interest rates continue to be at all time lows.  In March, as there were signs of health in the economy, mortgage interest rates bumped up over 4% with rumors of rising quickly to 5% or 6%.  Then news of the healthy economy ended and rates dropped back to below 4% in many areas.  This was a clear sign that as soon as there is health or just optimism in the economy mortgage rates would quickly, immediately rise.

Maybe that is the cause of the flurries, Buyers are realizing that this time of historically low rates will end and when it does those who didn’t buy at today’s low rates will wish they did for two big reasons.

Two BIG Reasons

Consider this, a 1% rise in interest rates, for example from 4% to 5%, lowers the amount that a Buyer can borrow by 12%.  That means that someone who could afford a $200,000 mortgage at 4% could only afford $177,000 at 5%.  That means they would have to buy less bedrooms, less baths, smaller square footage and/or a completely different neighborhood.  And, once rates start to rise there will be no window of opportunity to go back and get the lower rate.

And consider this, in the historically hot markets, California, Cambridge, Mass., parts of Florida, New York City and many others foreign investors are buying up residential Real Estate.  Why?  Because they anticipate that there is going to be an inflationary bump as there was in the mid 1980’s when the value of everything including Real Estate rose by 50% to 100% in just a few years.  When that occurred the owners of Real Estate benefited and the tenants simply suffered higher rents as housing affordability moved further from them.

Raining Houses AND Money

This is a unique moment in time.  It is usually a good time for Buyers, a Buyer’s market when inventory of homes for sale is high driving prices lower.  Or it is a Seller’s market when there are lots of Buyers and a lower inventory of homes for sale driving prices higher.  It is never a good time for both Buyers and Sellers. (I guess it’s not never but it is rare.)  That is what is happening right now.  For Sellers prices are stable, and in the flurry areas prices are rising.  For Buyers, this is a window of low rates, reasonable prices, and possibly a window of a pre-inflation bottom of the market.

Full Disclosure

Yes, I work with and for Real Estate Agents and Brokers all over the United States so I have some “skin in the game.”  And yes, I am guilty of seeing the glass half full.  I look for opportunity instead of problems.  But, I just helped my younger son buy his first house.  I’m working to help my other son buy his first house.  We are selling and buying.  So, full disclosure me and my Clients, who are successful Real Estate Agents benefit when people buy and sell.  At the same time I am walking the walk.  Talk that walk with me.  You will be glad you did, happier and wealthier for it.  Call a competent Agent right now to discuss your move or to help your son, daughter or loved one take advantage.  It’s raining houses and money.

Rich Levin is a coach whose Clients achieve extraordinary success.   You can experience Rich’s work for free weekday mornings by going to www.FreeCoachingWebinars.com and click on “Free Registration.”  You will gain access to Rich’s daily 15 minute coaching webinars (8:45 a.m. EST).  If you would like to discuss hiring Rich as your personal coach or having him speak at your next event, contact him at 585-244-2700 or Rich@RichLevin.com.

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A Sacrilegious View of Self Discipline

Thursday, April 26th, 2012
By Rich Levin
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Self Discipline is not necessary.
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What!!! That’s ridiculous. Every success book and successful person is lauded for profound self discipline. In Jim Collins famous book, “Good to Great” one of his basic concepts to become a great company is a “Culture of Discipline.” But when you read the Collins book you find that he distinguishes between discipline through sheer force and discipline through focus and commitment.
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Self discipline is not necessary when you have sincere self motivation. What’s the difference? Imagine a sales person who knows that they need to make a certain number of calls each day. They set the time and place to make the calls. They get the list of names and practice scripts. Then they force themselves to show up and call. Most people don’t get started doing this. Most of ones who start, quit quickly.  Most of the ones that keep it up don’t keep it up for long. The few who keep it up for a while seldom stick with it.
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Contrast that with the salesperson that has compelling goals; for their loved ones, for charity, for personal wealth, possessions, and/or travel. Contrast that with the salesperson who has always been a winner; the salesperson that grew up so poor that they remember seeing their father crying because he could not provide for his family. All of these salespeople are motivated internally. They will develop habits and practices that will lead to high levels of success that arise out of focus and commitment.
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One leads to breakdown; the other to empowerment.
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Self discipline is external, a threat or promise that one forces on themselves. It creates fatigue.  It wears off as soon as the threat or promise weakens. For most who stick with it, keeping up the threat or promise over the long term eventually leads to breakdown.
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Self motivation is internal, a desire that one holds dearly. It creates excitement and energy. It sticks with you in a comfortable, enjoyable and very natural way. As one accomplishes results they feel empowered to make permanent changes that sustain success.
It does take one, two, and three.
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How do you create this kind of self motivation? Can you create it? Or does self motivation have to come naturally?
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You can create it. First you need to have clear, measurable, and time bounded goals. Second you need to get clear on why those goals are important to you at an emotional level. For example, a Real Estate Agent sets a goal to earn $100,000 per year and does a good job breaking that down to monthly goals and a weekly focus. He or she then asks themselves why that is important to them. The first answer is, “to pay bills.”  But that answer does not rouse an emotion. It is true and can lead to the emotional reason when he or she answers the following question.
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The second year that you earn that $100,000 and the bills are paid, then, what will that income do for you? The answer is, “I’ll finally put some money into savings and a retirement account.” This is also true and still not emotional.  One more time, the third year, once there is money in those accounts and you are confident it will continue, what will that do for you? The answer, “Wow I’ll feel free.”  As the person continues there is a deep sigh. Tension that the person didn’t even know was in their body begins to be released. Words begin to flow quickly. “I’ll replace the floor on my kitchen that has holes in it. I’ll buy a new car and stop worrying that the price of gas means I can’t go to the movies. I’d be able to go visit my granddaughter out of town whenever I want.” And the tears begin to flow as the combination of relief and anticipation are realized and felt.
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That is the first two steps to self motivation, clear, measurable, time bounded goals and a compelling reason to achieve them. The third step is ongoing. It can be done with pieces of paper, pictures on the wall, a screensaver, or any other reminder of that emotional reason.  The third step is to constantly and continuously associate that compelling reason with the goals.
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This process, like many of the best things in life, is simple but not easy.  It is not complicated but it may take weeks, and months, for some years to get clear on the reasons. It helps to have help.
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Over the past twenty years I have been extraordinarily fortunate to have coached many people to levels of success beyond what they ever thought was possible. I am always left with the feeling that I really didn’t do anything. They did it themselves.  Because once a person is in touch and continuously aware of their most compelling reasons to succeed; then the skills and tools; the habits and systems that they learn from me are easy for them to implement. They are quick to stick with what works, abandon what does not work, focus on Clients that are worth their time and rigorously stop working or not begin to work with time wasters.
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What do you want; whatever is your business, profession, career, pursuit, passion, or job? Why is it important to you? How do you measure the success of it? Who is there to help you select the best methods, habits, and systems?
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The career you imagine and the life you imagine may be closer than you think.
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Rich Levin is a coach and teacher whose Clients often achieve extraordinary success. You can experience Rich’s work for free on his 15 minute coaching webinars weekday mornings by going to  www.FreeCoachingWebinars.com and click on “Free Registration”, or listen to the recording each weekday by clicking on “Play Today’s Webinar”.  If you would like to discuss coaching with Rich, contact him at 585-244-2700 or Rich@RichLevin.com.

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I Simply Don’t Believe It

Wednesday, March 14th, 2012
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By Rich Levin
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Lies and Dangerous Lies
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“As soon as the economy and housing market improve, mortgage rates will go up.”  That is a sensible and common belief among economists and experts in finance.  “Mortgage interest rates won’t go up until 2014.”  That is what the government economists are saying.
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Well, you, the real Buyers looking for houses are smarter than that. You know that rates under 4% are tremendous. I know you know that because you are coming into the market in huge numbers in nearly every market across the United States.
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They Are Reaching in Your Pocket Over and Over.
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It is possible that specifically the interest rates on mortgage loans will stay low for quite a while but Federal fees on those loans have just gone up and that trend is likely to continue. Instead of the banks making the additional income on higher interest rates the government is collecting that income with increased taxes, mortgage insurance and fees.
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Either way, the result will be that the cost of buying a home with a mortgage is likely to increase steadily. So, this spring market is unique moment; when interest rates are low. Prices are soft at the same time. And fees are as low as they will be for quite a while.
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There is a Problem.
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Real Estate prices are driven by supply and demand. In some markets around the country there will be an influx of foreclosure homes that will depress prices further.  For Buyers this is an opportunity not a problem. Sellers in those areas will be wise to put their house on the market sooner than later.
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The problem for Buyers will occur at the peak of the spring market. In most markets around the country, there will be a few weeks or a month this spring when the greatest flurry of Buyers will be buying. For that period demand will exceed supply. You will know it is happening when every house you look at sells quickly and most have multiple offers on them. During that period prices will peak and Buyers will be forced to pay a premium.
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Most years those higher prices sustain and values rise. It is likely that this year, like the last two years, prices will slide back to pre-peak levels by summer. So, Buyers would be wise to buy sooner than later as well.
How do you know this? I am in a unique position. Real Estate Agents from all over the country send me their sales and activity numbers, literally every day. I know how much they are selling, where their Clients are coming from, what’s hot, what’s not and how it all compares to the past three years. We, my Real Estate Agent Coaching Clients and I, see trends weeks and months before they are reported. We see them in real time as they are happening “on the street.”
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My Clients took advantage of the foreclosure bust by developing relationships with banks nearly a year before it became obvious that there was a serious problem. The Agents I coach informed their Clients, the Buyers and Sellers in their markets of trends that make them or save them money.
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This is the market people will look back on and say, “I wish I had bought then.”
Rich Levin is a National Real Estate Expert who has coached hundreds of Agents and Brokers to extraordinary success. His insights and talent are proven over the last two decades. Rich conducts a 15 minute coaching webinar every week day morning so you can see and hear him in action. Register at www.FreeCoachingWebinars.com.  You can contact him at 585-244-2700 or Rich@RichLevin.com.

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Get While the Gettin’ is Good

Wednesday, March 14th, 2012
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By Rich Levin
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Coast to Coast the Market is Heating Up. Jan is in Los Angeles. Donna is in Long Island.  Both are selling million and multi-million dollar homes. Kelli is in Florida.  Kyle is in Illinois. Both are selling one hundred thousand dollar homes. From coast to coast, border to border Real Estate markets are already busy. All signs indicate that people are realizing that home prices are down, interest rates are down and what is called the house affordability index is the lowest it has been in a century.
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WIIFM… So, What’s in It for Me?
If you don’t own a home and you are able to buy, that is, if you have a secure job, a modest amount of cash, and decent credit then you can borrow more money and buy more home than people have been able to buy for over a hundred years. It’s crazy but it’s true. You will have a huge tax deduction each year. When you own a home no one raises your rent or limits the use of the space in which you reside. There is more in it for you but this is enough for now.
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If you are selling, with the activity in the market this spring, this will inevitably be another time when Buyers are competing for the best homes for sale.  Much like what happened during the tax credit flurry. There will be a bump in prices. Follow your REALTORS® advice about the ways to make your house look its best. If it doesn’t sell quickly, adjust the price every three or four weeks and don’t be too concerned over taking a slightly disappointing price if you able to get a great price on the home you are buying.
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And if you are an Agent, get on the phone and call all of those people who said they were waiting for the market to get active. It’s active. Follow up on all the leads that come your way. Hold Open Houses, and talk to the Guests who attend. The market is full of people eager to finally make the move they have been thinking about.
Pent-up Demand is Unleashed.
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Real Estate Buyers and Sellers will only wait so long. Families grow. Jobs are gotten People get new jobs or lose them and lost. People divorce and die (unfortunately). There are a myriad of reasons that people move. When those reasons arise people will wait for a while, even a year or two, then it’s time to get going.
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When the reason people delay is widespread, like concerns over the economy, then lots of people delay and at some point they are willing to take the risk. At that point, many people enter the market at once. We are experiencing one of those times.
Politically, if you like our president then you may believe he has figured out how to make things better. If you don’t like our president, then you may be optimistic that his replacement will make things better. Either way, lots of people for lots of reasons are choosing to buy that home or make that move that they have been delaying.
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So, What’s To Do?
Trust the smartest most successful people you can find. Billionaire Warren Buffet’s secretary of 37 years, Debbie Bosanek, asked him if he thought it was a good time to buy. She said, “He told me that it will be the best opportunity in my lifetime.” Nearly all of the economists, successful investors and financial advisors, even the ones that, just last year, were saying it was not yet the time to buy a home are saying that now is an opportunity that is extraordinary. There is widespread, nearly universal belief that we have hit the bottom of the market.
So, what’s to do next?  Contact a Real Estate Agent you trust and discuss what you might like to do. And as Larry the Cable Guy says, “Git ‘er done.”
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Rich Levin is a National Real Estate Expert who has coached hundreds of Agents and Brokers to extraordinary success. His insights and talent are proven over the last two decades. Rich conducts a 15 minute webinar every week day morning so you can see and hear him in action. Register at www.FreeCoachingWebinars.com.  You can contact him at 585-244-2700 or Rich@RichLevin.com.

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Planning: Four Fatal Errors and Four Necessities

Friday, January 6th, 2012

By Rich Levin

Most people make resolutions.  Business people and those serious about achieving results make plans.  After working on business plans with entrepreneurs, executives, managers, salespeople, and small business owners for over twenty years there are characteristics of plans that work and plans that fail.

Goals and Measured Results: The fatal error is to fail to set goals. The next most damaging error is to set an annual goal and fail to break it down to monthly results goals and weekly benchmarks. The necessity is to create a system and habit of benchmarking. That is measuring results against goals on a weekly and monthly basis. What gets measured gets done. When a goal is set and not measured toward along the way it becomes nothing more than a wish and a hope. The popular movie and book, “The Secret” treats goals in this way. It is compelling, entertaining, interesting but often does not accomplish desired results. On the other hand measuring progress turns the magic of hope into the realization of the goal.

Skills: Every plan is made to create a result that does not yet exist, create something, achieve something or improve something to new level. To create a result that does not yet exist requires skill that does not yet exist. The fatal error is to keep doing the same thing and expecting a different result. The necessity is to determine the skills required to achieve a new and better result. Then build into the plan the education, and practice to achieve those new and better skills.

Habits: Every successful endeavor is built on good habits. That means doing something the same way over and over. Whether it is a McDonald’s hamburger, a fine steak, or a delicious dessert it is created by following the same recipe over and over. The same is true in sports, art, and business. The fatal error is to fail to build habits that replicate successful results. The necessity, of course, is to create the habits that ensure the results you desire. After the habit is created, to monitor the results of the habit. Tweak the process of the habit to continually improve results. While, at the same time, being extremely consistent with the habit.

Attitude: The fatal error here is treating attitude like something that happens to a person; believing that you are subject to your attitude versus in control of your attitude. So often, I find people waiting for motivation instead of understanding how to motivate themselves. The necessity is to learn and improve the ability to shift attitude in the moment. Then you know that you have the ability to control your attitude and that may be the most powerful knowledge and habit of all.

Think of winners you know or the things that you win at. Maybe you are overweight or out of shape but you are successful in your business or another endeavor. Perhaps you are struggling with your career or your finances but you are a great cook, parent, or in some other role in your life. Examine the place or places that you or people you know win. You will find the following.

They know what they want in that area and they know whether they are achieving it along the way. That is goals and measured results.

They are very skilled in that area.  They are interested in the strength of that skill. They are always thinking of ways to keep it strong and make it stronger. That is skills.

They have built habits around the area in which they win. They do things on the same days, at the same times, in the same places, and in the same ways. That is habits.

They control their attitude in that area.  Their focus, self talk, and physical demeanor make them feel good while they are at it. If something interferes with that feeling; they easily refocus, regain their physical composure and talk themselves back into the enjoyment or accomplishment. That is attitude.

As I begin to coach a Real Estate Agent, Broker, business owner, or entrepreneur I do a careful analysis of the person in these four areas. It is this analysis that establishes the format of our work together. As the relationship develops, the Client and I together identify the area that will make the most significant difference with the greatest ease. We use goals to determine needed skills. We identify, create, instill and refine habits that ensure consistent results. I am continuously monitoring attitude to discover if and when the Client’s beliefs may be limiting the Clients growth and success.

Life is very exciting when you know how to live it. These four fatal errors and necessities of successful planning are the same substance that lead to and create successful living.

Plan to live fully, happily, successfully.  Plan to make 2012 the best year of your career and your life.

Rich Levin is a results coach who works with Real Estate Professionals and business owners to achieve levels of success that previously seemed out of their reach. He speaks to audiences and coaches individuals across North America. You can experience a taste of his work on his daily webinar for Real Estate Professionals.  Register at www.FreeCoachingWebinars.com.  You can reach him at 585-244-2700 or Rich@RichLevin.com.

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2012 Business Planning Breakdowns and Breakthroughs

Wednesday, December 7th, 2011

By Rich Levin,

A Harvard Business School study discovered that the 3% of people who had written goals and a plan earned ten times as much as the other 97% together.

Why don’t Real Estate Agents create written goals and the solutions?

The process is too complicated.  Keep it simple.

Planning is done in one long session.  Schedule it in a series of brief sessions.

The plan is unfinished.  Structure to complete a portion at each session.

It gets “put on the shelf.”  Build it to be a simple and enjoyable regular activity.

It ignores important parts of an Agent’s business and/or life.  Include them all.

Four Phases

With this structure your subconscious mind and creativity stimulate ideas normally unavailable to you.

Your Dreams and Vision: Ideally, how you want your business and life to look and feel?  In your business; marketing, prospecting, social media, presentations or other business priorities?  In your personal life; relationships, family, leisure, finances, health or other personal priorities?

Your Annual Goals and Plans:  How much do you plan to sell, list, and earn?  What do you want to achieve with each business category above (marketing…)?  What do you want to accomplish in your personal priorities above (relationships…)?

Your Monthly and Weekly Measurable Goals and Benchmarks:  How much will you sell and list each month?  Benchmarks: within the business categories (marketing etc.) what will you accomplish each month; within your personal priorities (relationships etc.) what visible or measurable progress will you make each month?

Your Action Plans and Habits.  Plan and schedule the actions to accomplish your highest priorities to be done at the same time, on the same day of the week, which turns them into habits that you can depend on for consistency.  (E.g. Monday 9 a.m. one hour prospecting; Tuesday marketing)

Get It Going – Ensuring Success

You don’t have to get it perfect.  Just get it going; then keep improving it.

Start your planning with a thirty minute session.  Use the simple details in the four phases above to prompt your thinking.  Complete each phase in order before moving on to the next.  Schedule thirty to sixty minutes weekly, on the same day at the same time.  Choose completion dates for each phase and honor them.

Also, schedule just five minutes at the beginning of each working weekday to review your plan.

To ensure success, each day as you begin, put your mind and emotions in an empowered state by standing proudly, stomach tightened, shoulders back, chest out.  Take five deep, deep breaths.  Smile.  Walk around a bit, briskly.  Pump your fist.  You will feel happier.  It’s physiological.  You can’t help it.  Immediately sit down and spend your five minutes or longer planning.

Keep this routine up throughout 2012 so that your planning and the strategic thinking that arise out of it become a business habit.  You will rise to the personal records of production, income, personal satisfaction and peace of mind.

Rich Levin is a Master Coach and Real Estate Productivity Consultant.  He conducts a live 15 minute Webinar daily that teaches and reinforces the details of this planning process.  Register at www.FreeCoachingWebinars.com.  For coaching and speaking information you can contact him at 585-244-2700 or Rich@RichLevin.com.

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The Rhythm Method, Temperature and Symptoms

Thursday, September 15th, 2011

By Rich Levin

What is that expression about Doctors being the worst patients?  Well I have my house on the market.  We are moving to Atlanta, Georgia from Rochester, New York to be close to our granddaughter (she’ll turn one on November 21st B”H).  So, I write to you today as a Seller in a bad market during one of the softest times of the year, having had my house on the market for just over a week and already reducing my price by $10,000.
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Although, I am a Broker, I am not actively selling.  So, I asked an Agent I coach who is with a company with all the best marketing tools to work with me on it.  She has already cursed at me out loud, under her breath and I’m sure out of my hearing.  REALTORS®, like doctors, at least in my case, do make for the “worst” Clients.
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There is a rhythm to the year.  There are better times to sell and worse ones.  This is a bad one, for a bit longer.  The best is mid spring, April and May.  The worst is the two weeks around Christmas.  Then there are some better or worse times.  Another good time is mid September to early November.  And right now (mid to late August) is one of the soft times.
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Children are home from camps and summer vacations are at a peak.  The college ages are preparing or being dropped off.  With the sense of fall in the air, good weather wants to be taken advantage of and bad weather is a reminder of things to come.  There is a natural lull for two to three weeks in late summer even in the hottest of residential markets.  For a Seller, like me, it is time to be anxious or patient.  I tell myself, “Be patient, you’ll live longer.”
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For those Agents reading this, if you have been doing the right things all year with your marketing, high quality service, staying in touch with leads, and managing your business by the numbers, you are remaining busy with the smaller number of Clients who are now active.
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For those Agents who don’t control their attitude and their business, this is a tough time.  Not only is it a soft time of year, it is a soft year.  Although interest rates keep getting even lower and prices are tremendous, there are fewer highly motivated Buyers and the less motivated are being quite (what’s the nice word for fussy… oh) particular.  Many Agents are struggling, worried or both.  If you are in that position, call me, not as a Seller but as a Coach.  Your struggle and worry are not necessary and they don’t help.  Just like your Seller’s anxiety doesn’t help.  It needs to be replaced by information, sincere empathy, and clear thinking.  As their Agent it is your job to provide that.  As your coach it is my job to provide that to you.
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Back to selling my house (or yours), the stock market roller coaster, partisan politics, and cautious business environment create insecurity which leads many people to delay their decisions to sell and buy their homes.
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There is very little activity on my house.  Either my price is too high or there are no Buyers.  I’ll wait until the beginning of that more active time early-mid September.  If the house is not sold by then and activity doesn’t pick up we’ll drop the price another $10,000.  Or if activity picks up but we don’t receive an offer, we’ll drop the price.  In Real Estate jargon, we are what you call a motivated Seller.  I will be in Atlanta for my granddaughter’s birthday.
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Selling your home, buying a home or investing is not magic or mysterious, it is understandable and explainable.  If you are selling or buying and you feel confused about what is happening, talk to your Agent.  If your Agent doesn’t provide satisfactory answers, talk to their Broker.  If you are still not satisfied e-mail me and share your situation. With complete confidentiality, I’ll share possible solutions.  There are many misconceptions.  You do not have to suffer from them.  You may suffer for many other reasons, misconceptions and confusion do not have to be among them.
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There is a rhythm to the residential Real Estate market each year.  There is rhythm to the good markets and bad.  Although, the reason for the title of this is to share a bit of humor, it was the title of a presentation I did in college, for which I got an ‘A.’ Do you know what it refers to?  It has nothing to do with business… well not the Real Estate business.  If you know, I hope this adds a little smile.  J
Rich Levin is a National coach and featured speaker to Real Estate Agents.  His Clients are the most productive and most respected because of their high standards of performance.  Rich is President of Rich Levin’s Success Corps Inc.  You can contact him at Rich@RichLevin.com or 585-244-2700.  View Rich’s free daily coaching Webinar at www.FreeCoachingWebinar.com.

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