Archives For planning

Posted on June 28, 2016 |

rookie-pic (1)Today I’m sharing an article originally posted on REM written by Joanna Dermenjian. This article explains the reality for new Realtors just starting out and the demands for any agent who wants to be successful in their new career. Enjoy!

Joanna writes:

You’ve passed your exam, signed on with a brokerage and received your license. Now, where is the instruction manual on how to be a real estate professional? There isn’t one! It’s Day 1 in your new career and you have no idea what to do, what to expect and how to get started. Here is what we have learned that you need to know:

Your first year will be very hard. If you make it through the first year and do 10 transactions, you have a chance to gain enough momentum to build a career in real estate. In the first 100 days, you need to gain traction. The clock is ticking, and the first 100 days are counting down. Get yourself one firm transaction and at least two more buyers you have already started working with in that first 100 days. There needs to be urgency in everything you do.

1. You are now a brand.

You are being watched – when you are out with friends, when you are eating in a restaurant, when you are shopping at a retailer or are receiving a service. Everywhere you go, people will start to know who are. They will watch you and listen to what you say and how you say it, even if you aren’t talking to them. Think about that.

2. You are a professional.

You want to be a very successful professional. Dress for the job. Arrive on time. Clean your car. Be organized. Be well groomed and presentable all the time, even in your leisure time. Behave.

3. You are a salesperson.

The public perception is that we sell houses, but truly we are selling ourselves. Our knowledge, our expertise, our competence. You don’t have those yet, so you have to work very hard to get them quickly. Until then, sell yourself as enthusiastic, hardworking, ethical and available, with support from a great brokerage and colleagues when you need assistance.

4. You are now a business.

Project your expenses for the year and your net if you do five sales in the first year, at the average residential selling price in your board area. Do a budget. Don’t spend money you have not made. Set up files, keep receipts. Remit taxes at source, HST and personal income tax. It is not your money and never will be. You do not want to be hounded by the CRA.

5. You are your own administrator.

Create an excellent calendar and keep a log. Write down everything you are doing in your business. Track where your time is going and what is bringing you success. Where are your leads coming from? What isn’t working for you?

6. You are your own PR department.

Write down the names and contact information of everyone you know and create a database. Grow your sphere of influence. Let everyone you meet know you are in real estate and ask them if they have a trusted real estate advisor, or if they would they consider working with you. Email or snail mail some information of value to your database at least once every quarter.

7. Project that you need to talk to 100 people about real estate before you get one firm transaction.

This doesn’t include friends and family, who may or may not want to do business with you. If you want to do 10 transactions this year, you need to talk to 1,000 people about what you do. If you don’t believe this, start counting.

8. Do 100 open houses this year.

Yes, 100. That is your magic number. It could be one or two or four a weekend. It could be some weeknights or non-traditional times. Try various times and see what works for you. If you don’t like open houses, go door-knocking. You need to talk to people face to face about real estate.

Don’t just do 100 open houses, do 100 great open houses. Quantity isn’t enough. Learn which agents have properties where you can host an open house and introduce yourself. Develop an open house plan for yourself, a system, to make sure you are well informed about the house, the neighbourhood amenities, recent neighbourhood sales and new listings. Preview the property. Spend two hours of prep time for each hour of every open house. Show the listing agent you are organized and committed. Arrive at least 15 minutes before you open – be there before the buyers! Treat each open house like a job interview. You are looking to find a buyer or a seller who will “hire” you.

9. Do floor time, duty.

Yes, it is boring to sit in the office waiting for someone to call, but many agents don’t show up so there is real opportunity here. It might not amount to a lot, but it gives you a chance to talk to more people about real estate. Study pricing or neighbourhoods while you are waiting for the phone to ring, not YouTube videos of cat capers. But don’t only do duty and don’t do it on weekend afternoons when you should be doing open houses.

10. Go to your weekly sales meeting and agent tour, if your brokerage offers it.

See as many houses as you can. Study the pricing, listen to what other agents are saying about the listing, research how the agent might have come up with the list price. Watch how much it sells for. You need to see a lot of houses before you can become good at pricing. Research neighbourhoods. Every week, study a new neighbourhood. Drive around, walk around. Learn amenities, schools, parks and places of worship. Study typical home styles. Study pricing history of that neighbourhood for the last 12 months. Next week, do the same for another neighbourhood. Next week, do it again, until you know the whole city this way.

And show up. The first few weeks can be very discouraging. Keep on with the basics. After awhile of doing the core things over and over again, something will take hold. You will find your niche, your best way of engaging with clients, and you can build on that. But it won’t happen if you don’t show up. You are a million times more likely to pick up a duty call if you are at the office than if you are sitting at home or hanging out around town.

A key tool for successful realtors is a real estate CRM. A CRM can be a game-changer when it comes to contact management, as it contains all your client contact profiles, can be setup with automated email and e-newsletter campaigns, and has reminders for your clients special events so that you’re always in-the-know! Try IXACT Contact real estate CRM. IXACT Contact offers Rookie Realtors a 6 month FREE trial! Sign up today and kick-start your new business!


Original Article

Lifestyle businesses require a great deal of thought. This is because they have to be designed to bypass many of the issues most businesses face.

secretmoneymachineThe first time I started to think seriously about a lifestyle business was when I read an older book titled, “The  Incredible Secret Money Machine” by Don Lancaster. I bought this book used through Amazon many years ago and have read it several times. The book outlines a lifestyle business designed to be a “secret” money machine.

From this book, I outlined how I wanted my lifestyle business to operate.

Here’s what I built into my business:

1. I must have 100% control. The business shouldn’t have any partners and have a minimum of outside influences. There should be no reporting to others, no competing with others, and little time hassling others.

2. The business should have multiple income streams. The best lifestyle businesses have hundreds of smaller sources of income so that they don’t become dependent upon one or two large sources of income.

3. The business should be engineered for present and future banking. My mentor, Dan Kennedy, taught the importance of future banking and I wanted this built into my business. Present banking means you get paid now. Future banking means you get paid in the future. I wanted my business to provide income today and tomorrow. Our present effort must provide several future pay days.

4. Put nothing between me and my customers. This means no sales people and no customer service.

5. The business should not require a retail location or an office. This means no fixed overhead. No product inventory. No expensive fixtures. No copy machines. All the money typical businesses invest into these items should stay in the business’s bank account.

6. The business should have .25 employees. This employee is .25% of me. I only want to work a few hours a day at most. Most businesses require .97% of the owner. Employees are a waste of time, money and mental energy. Employees also add the hassle of paperwork, tax and other regulations.

7. The business shouldn’t require a great deal of upfront money to get started. “Money machines expand fastest and best when they bootstrap and pyramid their own output on their own terms. They key is to to keep a sense of scale and start out as simply and cheaply as possible.”

8. Cashflow is EVERYTHING. “For a viable money machine, you should accept no less than a 200-percent annual return on cashflow. For instance, in a given year, if you have a total of three thousand dollars in expenses, it should be offset by at least nine thousand dollars worth of income. This leaves you with two nickels generated for every old nickel put up. Now, a 200-percent annual return on investment seems an impossible dream to traditional financial people. But we aren’t talking about anything traditional or big business. We’re talking about your secret money machine.”

9. Use the “Black Widow Effect” to build the business.A black widow spider usually spins a web and waits for the next meal to drop by. Now way does she go out and try to sell her next meal into coming over for canasta. The same basic idea is a good tactic for your money machine. Whenever and wherever possible, let people come to you and seek you out, rather than vice versa.”

10. Keep a low profile – “secret” money machine. In building my first two large businesses, I flew way above the radar. I turned myself into a “mini” celebrity in order to generate leads for the business. You may be reading this article because of my previous “mini” celebrity marketing. Flying above the radar opens the doors for numerous problems. These problems include people stealing your intellectual property, competitors saying nasty things about you, possible legal challenges, and more.

11. No expensive or complex marketing. Any business requiring expensive marketing isn’t the ideal lifestyle business. Complex marketing funnels require a great deal of time and money. These should be avoided completely. (Yes, I know… I spent 15 plus years creating these expensive marketing funnels. I know first hand how much time and money is required. This is why I wanted to avoid them in my ideal lifestyle business.)

How does your current business rank on these rules?

If you’re breaking any of these rules, is there a way for your to redesign your business into a lifestyle business? What can you do differently to make your life easier?

NOTE: The text in italics are direct quotes from Don Lancaster’s book.

original article

productive realtorProductivity is a popular subject these days and rightfully so! I would argue that we fight more distractions in our work day than any cohort of working adults before us. Are you maximizing your productivity as a real estate agent, or is it a constant battle for you to work smart and complete your tasks each day?

I sleep better at night when I feel like I had a productive day, and I can’t help but feel frustrated on the days that I wasn’t as productive as I could have been.  I’ve compiled a list of 5 habits that interfere with productivity, and some suggestions on how you can turn them around to be a more productive Realtor.

Habit 1. Beginning your day in a frenzy.

The first few moments of your day set the tone for the rest of your day.  Do you rush around the house, down a cup of coffee, and barely leave time to brush your teeth? Lots of us are in the habit of hitting the snooze button a few too many times and rushing through the house in semi-panicked chaos.  This hectic morning habit takes a toll on your well-being and productivity for the day.

Break the manic morning habit by setting your alarm 10-30 minutes earlier. Take some time to breathe before you start your day. Choosing your outfit and preparing your lunch the night before can relieve your morning stress. You’ll begin your day feeling calmer, more centered, and more industrious.

Habit 2. Working without structure.

Some people roll their eyes at the notion of a “to-do” list. But the reality is that most successful Realtors swear by some sort of task list. You’ll struggle to focus on a task without a defined list in place to structure your work day or week. Many of us tend to work on whichever project is the easiest or most urgent without mapping out the other important items that also need to be completed.

Start structuring your day by using a “to-do” list and reviewing it each morning.  Focus on the items on your list and tackle something challenging first thing in the morning. It feels good to check something off the list and most of us are more motivated and clear minded when the day gets started. A good real estate CRM will come equipped with a task list. It will even send you reminders of when it’s time to check off an item.

Habit 3. Overdoing the Multitasking.

Yes, real estate agents are always on the go, and yes they have a thousand things to do at any given time. I would wager a guess that you consider yourself an excellent multitasker, am I right? There is a time and place for multitasking. However “singletasking” can be just as important when you’re working on an important project.

Research at the University of Michigan showed that a 3 second distraction can lead to double the mistakes in your work. So when you’re bouncing between two tasks as a multitasker, you’re more likely to make more errors. And unfortunately, working on two tasks at the same time can result in poor cognitive performance on both tasks.  For a real estate agent who is working with sensitive timelines, financial documents, and tight schedules, you want to avoid as many errors as possible. Resist the urge to work on multiple tasks at the same time and try “singletasking” one important thing before moving on to the next. Your work will be more accurate and your productivity will increase!

Habit 4. Postponing dealing with something.

Do you ever skim an email and think, “I’ll deal with that later”? Then the next day you look at it and postpone it again, you think about it a few more times and eventually you reply to the email days (or weeks) later? If you had replied to the email immediately, you would have saved time, energy and space in your inbox! Postponing tasks is a time vacuum that many of us fall in to.

Whenever possible, try dealing with items only once.  This rule applies well to emails, meeting invitations, or requests for help. When you deal with an item only once, it frees up your mind to move on to more pressing issues, and increases your potential to be productive.

Habit 5. Manually carrying out tasks.

Some important tasks are time consuming, but they can’t be avoided, right? Well, it depends. There are some amazing tools available to Realtors now that can automate much of your work for you, freeing up more of your time to focus on selling homes!

Do you spend time frantically trying to find a past client’s phone number, or attempting to respond to web leads via email? Tasks like these are unavoidable, but they don’t have to dominate your entire day! Choose a real estate CRM and email marketing solution where you can organize all of your contacts in a single database, then take advantage of the automated features to free up your time.  A good CRM can send follow-up emails to leads and even assign them to a drip email nurture campaign, so your new leads are receiving communications from you without you having to type them out! Automated task reminders will ensure you’re not forgetting any important to-do’s. Stop manually working on tasks that can run like clockwork with little to no effort!


Do any of these productivity-sucking habits sound familiar to you? Feeling productive can alleviate stress and improve your overall well-being. Try these tips to structure your day more efficiently, focus on a single task at a time, and deal with tasks just one time.  Perhaps most importantly, find the right real estate CRM that can help you get better organized and automate many of your important tasks.

Seller Financing

In some situations, sellers are lining Lending Standards, Seller Financing. CFPB
Finalizes Loan 2013, The Consumer Financial Protection Bureau – 2012-03-15

Seller Financing May Be Worth Exploring | Realtor Magazine

In today’s stymied real estate market, lenders are more cautious about making loans and sellers are more inclined to agree to carry financing to sell their properties more quickly. Here’s a look at how installment sales could work for your clients. – 2008-12-01

Get Seller Financing to Work for You | Realtor Magazine

Seller financing has been a hot issue in recent real estate news due to the changes in regulations, specifically in the Dodd-Frank Act. Here’s what you need to know to incorporate this method into your business strategy and be the best advocate for your clients. – 2015-04-06

Seller Financing: Background

Seller financing is subject to new rules following the passage of financial reform legislation. Know these changes in order to serve sellers better. – 2012-01-17

My Account

Seller financing plays an important role in financing the sale of real estate, especially when credit is tight. This paper summarizes the impact of two federal laws that affect seller financing. Seller financing plays an important role in financing the sale of real estate, especially when credit is tight. This paper summarizes the impact of two federal laws that affect seller financing. – 2012-01-12

Sales Clinic: Expand Your Market with Seller Financing | Realtor Magazine

Are there any creative ways to sell a home that will maximize the salesperson’s value? —Timothy Baker, RE/MAX Affiliates, Naperville, Illinois If you want to be a top salesperson, you always have to be on the lookout for new and creative ideas to set yourself apart from the pack.…/feature/article/1999/12/sales-clinic-expand-your-market-seller-financing – 1999-12-01

Ways to Protect Yourself Under Seller Financing | Realtor Magazine

TIP: Instead of taking back an installment loan, per se, have the buyer purchase an annuity or some zero-coupon bonds in your name. These can often be bought at deep discounts to eventual payout, lowering the sale price, but guaranteeing you a higher future return.…/sell-your-business/article/ways-protect-yourself-under-seller-financing

NAR Submits Comments on CFPB’s Proposed Seller Financing Rules

On Oct. 15, 2012, NAR President submitted comments to the CFPB on its loan originator proposed rule. On Oct. 15, 2012, NAR President submitted comments to the CFPB on its loan originator proposed rule. – 2012-10-19

Sellers Can Fill a Void | Realtor Magazine

If you’re working with sellers who have seen offers collapse because buyers can’t get a mortgage loan, you might want to suggest they consider offering some variation of seller financing. – 2011-07-01

Seller Financing: The SAFE Act

In 2008, President Bush signed the Secure and Fair Enforcement of Mortgage Licensing Act or SAFE Act, which requires licensing and registration of loan originators. – 2012-03-15
 1  2  3  4  5  6  7  8  9  10 Next

Looking for something else? Search the archive for many resources created before 2009.


“Sales Book for Terms Deals Presentations” on Bundlr

I want to share with you some ideas on using real estate to become
debt free and build your cash reserves. It has worked for me and I
have also shared this with many other investors and it has worked
for them also. Many investors start out in real estate thinking that
you have to “have money to make money”. That is not the case at all.
You will need one of two things though; either good credit or
cash…remember that it doesn’t have to be your cash or credit as far
as that’s concerned. It’s OK to start out with other investors until
you can do it on your own. I would rather share the profits and have
some of something rather than all of nothing.

We only buy when we can get paid and still cash flow the property.
Let me explain. Let say you find a property that has an after
repaired value or ARV of $100,000. Because the property needs
$20,000 in work you can buy it for $50,000. Now you will be in the
property at 70% of value once the work is done. Whether you paid
cash, borrowed from relatives or got a hard money loan for purchase
and rehab makes no difference. Once you have a $100,000 property you
can now refinance at 80% loan to value or LTV and after closing cost
pull out about $7,000 to $8,000 in tax free cash.

Yes you do not pay taxes on borrowed money.

But just remember that it is still borrowed
money and has to be paid back, even if it is the tenants that are
paying it back. I do not recommend refinancing over 80% loan to
value. This way you still have some equity for your financial
statement and the property should cash flow with no problem.

Now, what do you do with the cash out from the refinance that you
just received? No you don’t buy a new car, go to Vegas, or anything
like that. You simply pay off a credit card, installment loan, your
car, your equity line, etc. You can buy real estate and get cash to
pay off your personal bills and increase your cash flow from the
rents at the same time. If the property you just bought and
refinanced has a $200 cash flow but you also used the cash out to
pay off your car that has a $300 payment, how much did you really
increase your cash flow? $500! Every time that you buy a property
think about what bill you will soon be able to pay off. Once you
have all of your consumer debt paid off then you start paying off
your home that you live in. Once your home is paid for then you go
to your banker and get a line of credit on your home to use to buy
and rehab properties. Then you simply refinance once the work is
done and pay off the line. It is much easier to negotiate with a
seller when you can simply write a check to purchase their property.
Then when you ask a seller the least they will take if they can have
a check by Friday, you can back it up. Sure it may take some time to
get to this point but once you have become debt free (with the
exception of rental property, of course) it opens up so many options
for you to do things that you have never been able to do. Not to
mention the peace of mind.

We have a property analysis form that we use to determine if a deal
will fit into this plan. The form even shows the cash flow, cash out
and equity gained by purchasing each property. If you would like a
copy, please visit the “Freebies” section of

I hope you have enjoyed this article. For more articles on real
estate investing, to sign up for our free newsletter and listen to
free weekly training teleconferences please visit my website at where you will also find free forms, documents,
EBooks, Downloads and more. Also visit
for investor financing.

Thank You,

Larry Goins

By Danny Perreault, Canadian Motiva Group

I used to be one to procrastinate on a regular basis.

I have tried to get things done on a daily basis. The steps I am going to recommend to you have helped me Improve on my ability to get things done.

1. Set your goals- Define exactly what it is that you want. Know you goals and dreams before you begin your journey.

Write your goals down.

2. Plan your day in advance- Use a Planner, Palm Pilot ™ or a to-do list, before you go to bed at night write down the

things you need to get done.

3. Use the 80/20 rule. Eighty percent of your results will come from twenty percent of your efforts. Focus on that

twenty percent.

4. Focus on key areas- Identify those areas that you must absolutely, positively get done.

5. Prepare and do your homework. The more knowledgeable and skilled you become at key tasks, the faster you start

them and the faster you finish them.

6. Identify bottlenecks- Determine your obstacles and roadblocks and work at eliminating them.

7. Take one elephant at a time- you can accomplish the biggest, hardest task if you do it one step at a time.

8. Imagine that you are leaving. Pretend that you are leaving for a long vacation and work as if you had to get all the

tasks done before you left.

9. Determine your peak times. Identify your periods of highest mental and physical energy each day and schedule

you’re most important and demanding tasks around these times.

10. Motivate yourself. Become your biggest cheerleader. Find the best in any situation

11. Do the most difficult task first. Tackle the task or to-do that will make the biggest contribution to accomplishing

your goals.

12. Develop a sense of urgency. Become known as a person who does things quickly and well.

I recently received an email from my mom that puts this into perspective.

A professor stood before his Philosophy 101 class and had some items in front of him. When the class began, wordlessly he picked up a very large and empty mayonnaise jar and proceeded to fill it with golf balls. He then asked the students if the jar was full. They agreed that it was.

The professor then picked up a jar of pebbles and poured them into the jar. He shook the jar lightly. The pebbles, of course, rolled into the open spaces between the golf balls. He then asked the students again if the jar was full. They agreed it was.

The professor picked up a box of sand and poured it into the jar and of course the sand filled up everything else. He asked once more if the jar was full. The students responded with a unanimous “yes.”

The professor then produced two cans of beer from under the table and proceeded to pour the entire contents into

the jar, effectively filling the empty space between the grains of sand. The students laughed.

“Now,” said the professor, as the laughter subsided, “I want you to recognize that this jar represents your life.

The golf balls are the important things – your family, your partner, your health, your children, your friends, and your favorite passions, things that if everything else was lost and only they remained, your life would still be full.

“The pebbles are the other things that matter, like your job, your house, your car.

The sand is everything else – the small stuff.

If you put the sand into the jar first,” he continued, “there is no room for the pebbles or the golf balls.

The same goes for your life.

If you spend all your time and energy on the small stuff, you will never have room for the things that are important to you.

Pay attention to the things that are critical to your happiness.

Play with your children. Take time to get medical checkups.

Take your partner out dancing.

Play another 18.

There will always be time to go to work, clean the house, give a dinner party and fix the disposal.

Take care of the golf balls first – the things that really matter.

Set your priorities. The rest is just sand.”

One of the students raised her hand and inquired what the beer represented.

The professor smiled. “I’m glad you asked. It just goes to show you that no matter how full your life may seem, there’s always room for a couple of beers.”

The people whom you have the most contact with and hang around will have either a positive or negative affect on your levels of self-esteem and confidence.

We all know those people who are positive, happy and joyful to be around.

 How do they make you feel?


Yes, they make you feel the same! They can but zest into a boring atmosphere and can fill the room with positive, can do vibes that has a knock on effect onto everyone else.

We also know of those people who could moan for America!

They never had the opportunities, they are always putting people down, they don’t like others to be successful, they are jealous and are negative thinkers – need I go on!

These people drain your energy and bring you down to their level, a million miles away from the level that YOU want to be operating on.

Family members can be a lot like this also but you can always choose your friends, you can never choose your family!

So what should you do to make sure that the people who you hang around with empower and support what you stand for rather than bring you down all of the time?

1.      You have the power to choose who you hang around with. Ideally you want happy, vibrant and positive people.

2.      If you have good friends who are negative and yet you still want to hang around them, make a point of letting them know how you feel – if they are a true friend they will respect you for this. If they are negative from time to time just acknowledge that this is what they are like and block out the negativity.

3.      The same can be said with family. Your more mature family members have behaviours that have been conditioned for years and years and from different eras. Appreciate where they have come from and as in number 2 above, elicit and select the information that filters through to your brain.

4.      Remember, that nothing has meaning in life except the meaning that you give it.