The 411 on Interest Rates Rising

By Maddie Jostol, Marketing Manager

interest rates rising header imageThe economy ebbs and flows, and with those fluctuations come different concerns from home buyers and sellers. As an agent, you need to be prepared to walk your clients through the fears and unknowns, serving as a trusted guide. Your clients will want to ensure their home purchase is a smart (and affordable) one.

When it comes to the affordability of a home, interest rates make a massive difference. They’re on the rise, which means you’ll likely be hearing – if you aren’t already – major concerns being voiced from your clients.

Inventory is low.

With today’s thriving economy, the housing market is hot all across the US. What we’re seeing is that there is extremely low inventory in the major markets. For agents, this means winning a listing is tougher than ever. For buyers, this means competitive bidding wars and cash offers swooping in.

NAR’s annual Profile of Home Buyers and Sellers revealed that in 2017, the typical home was on the market for just three weeks.

Many real estate professionals are starting to feel like there’s more agents than there are listings. While this isn’t quite the case, it can certainly feel as though there aren’t enough listings to go around. According to NAR, there were 5.51 million existing homes and 612,000 newly constructed sold in 2017, and there were 1,334,668 NAR members as of July 2018. Tight inventory increases the feeling of competition and adds pressure to an agent’s ability to win new listings.

Buyers are fatigued.

The home buying process can be stressful and discouraging, often causing buyers fatigue, which stems from seeing a lack of inventory in the market. Houses aren’t on the market long enough to go through the typical home buying process. Decisions are made sight unseen, inspections are waived, and above-asking offers are made. This can be incredibly discouraging for a buyer, surfacing fears around timing, affordability, and their ability to find the perfect home.

Interest rates are on the rise.

Freddie Mac published research showing the steady month-to-month increase in interest rates so far this year, starting at 4.03% in January 2018 and increasing to 4.57% in June 2018. This continuous rise is what has caused a stir across our industry, worrying many home buyers.

As published by Bloomberg, “The average rate for 30-year home loans climbed this week to 4.38 percent, the highest since April 2014, according to Freddie Mac.” Shanne Sleder, a mortgage broker based in San Diego, commented on the data, saying, “At this point in time, people don’t like it but they can still make it work. It hasn’t gotten to where people are starting to back out of deals yet. As we get closer to 5 percent, that’s when they will start thinking about it.”

These rate increases are serving as both a concern and motivator for many buyers who want to purchase before they can’t afford to do so. Some buyers want to wait it out, hoping for a drop in rates, while many others want to move quickly, confident that the upward trend in interest rates only gaining speed.

You don’t need to be an economist predicting the future of the housing market, but you do need to be able to assist your clients through the process as they navigate through market information such as interest rates. Stay up to date with forecasts, but more importantly, know how you’ll respond to your clients’ concerns, no matter what twists and turns the market makes.

Posted on August 3, 2018 at 3:59 pm
Tam Nguyen | Category: Productivity | Tagged , , ,

3 Steps to Change Your Focus from Software to Success

By Jessie Trapp, Marketing Coordinator 

moxiworksIn the world of real estate, we all hear the seemingly constant buzz about the ever-evolving technology that is shaking up our industry. The traditional ways in which real estate has been conducted are slipping away, and brokerages and agents alike are being left scrambling to define what they do, and exactly how they ought to do it. The movement to incorporate technology into real estate practices is tempting and, in many aspects, necessary to keep up and maintain a competitive edge. The pressure to stay current with the movement can be daunting, in fact, 48% of all real estate firms consider keeping up with the tech advancements to be one of the most significant challenges they are facing today. The question that arises here is: what technology does one actually need in order to achieve success?

When searching for new software for your brokerage, make sure you’re confident when it comes to exactly what benefits you are hoping to gain from bringing it on board. Further, that you’re aware of the tools you will need in order to fully utilize it. The process of acquiring new software can be costly and have the potential to put a major strain on the financial health of your brokerage if done incorrectly. Simply handing your agents a fancy new program and leaving it at that won’t anyone any good, and definitely won’t rock your agent’s socks off. In order to see the jaw-dropping ROI you are looking to get out of your software, it will require you to invest the time and money into the implementation process so that your agents are continuously being trained on how to use it and actively receiving value from it.

In light of this, avoid the common mistake of buying technology solely for the sake of buying technology. Instead, raise your bar high and purchase software that you deem absolutely essential in order for you to achieve success, and then gear your efforts toward making sure that you are getting everything you possibly can out of it. After all, what’s the point of having flashy technology if you don’t get value from it? No point. The answer is that there’s absolutely no point to that at all.

Here are a few steps we suggest you consider taking before sealing the deal to maximize your success:

Step One: Clearly define your goals.

Look beyond the buzz and clearly define what you are hoping to achieve by incorporating new software into your business. After you decide on a goal, articulate what metrics you will use to gauge when you’ve successfully reached it. Clearly you want your goals to be centered around the main interests of your company. Here are a few that we here at MoxiWorks like to focus on:

  • Improving the quality of your marketing efforts
  • Increasing lead generation
  • Strengthening CRM
  • Increasing agent productivity
  • Retaining current agents
  • Recruiting rockstar new agents

The main takeaway here is clarity. Be able to state what your goal is, and how you will measure its success.

Step two: Look for the missing parts.

Once you define your goals and establish your metrics, it’s then time to create a game plan for how you will go about achieving them. This requires first conducting extensive research within your brokerage to ensure that you are utilizing the skills you already have, making worthy investments in the technology, and avoiding the expensive mistake of double-dipping in resources. Start asking questions to get a clear insight into what you already have covered, and what you will need to look externally to find.

  • What types of resources do you already have within your brokerage that can help you reach your goals?
  • What steps can’t you complete without the implementation of new technology?
  • What does your timeline for onboarding new technology need to look like?
  • Will you need your technology partner to supply onboarding assistance and continuous training, or do you have tech savvy agents that can support others in the process?

Asking questions like these will assist you in finding the missing pieces within your own team, and help you pinpoint exactly what you will need to get out of your technology partnership.

Step three: Treat yourself to a technology shopping trip.

After you discover what kind of technology you need, it’s time to begin the hunt for the right company to partner with. Taking the time to complete the previous steps beforehand will make this process much more straight forward. Make sure to compare different options and take on a “What can you do for me?” approach. Brush up on the major players for that kind of software in order to be perceived as educated and become more likely to get a better price.

At MoxiWorks, we know that you have a unique set of goals and needs. This is why we created the MoxiCloud, an open platform of tools that are designed to help you reach your goals within a variety of different segments of your business. We even have a team of amazing Account Managers available to help your onboarding run as smoothly as possible and ensure that your agents have the tools they need to achieve incredible levels of success with our platform. Our clients are happy with our plug-and-play style, and we want you to be too. Take a look at what they have to say.

Posted on July 5, 2018 at 4:58 pm
Tam Nguyen | Category: Productivity | Tagged , , , , ,

Pocket Listings: What You Need to Know

By Jessie Trapp, Marketing Coordinator

pocket listings header imageIt’s a cut-throat market out there. Inventory seems to become increasingly scarce by the day, and sellers continue to hold tight to their reign as the power players of the real estate world. With agents scrambling to find a competitive edge, it’s no surprise that some of the tactics being used are stirring up serious controversy within the industry.

Enter: pocket listings. The actual usage of the term “pocket listing” can be somewhat confusing, as it is often used to describe multiple types of property listings that agents have different intentions for. Put simply, a pocket listing is a signed property that an agent has acquired but hasn’t listed on the MLS (Multiple Listing Service). In some cases, the agent intends to list it but simply hasn’t yet, however, for the most part it means that they have a property and intend to sell it to someone in their sphere without ever even placing it on the MLS at all. If you haven’t already, now is the perfect time to put this method on your radar because the secrets out – and clients are asking about it.

The topic of pocket listings is a fiery one among agents because it tends to walk on a fine line between tactical and, arguably, unethical. Agents are, in compliance with the Code of Ethics, required to do everything in their power to ensure that they get the best offer for their client. Those against the practice claim that withholding a pocket listing from the MLS presents the risk of missing out on higher offers that could result from making it accessible to the general public, therefore failing to act in the best interest of the client. Transactions for pocket listings also generally remain in the hands of the listing agent, as they often represent the both the seller and the buyer. Some opposed to the practice also express concern that some agents are too biased in favor of it due to the potentially higher commission in it for them, and fear that clients might not always be well educated on the ramifications associated with the practice.

Although these risks likely account for why pocket listings are usually not considered to be the standard practice in real estate, sellers occasionally prefer it and it has the potential to give agents a notable advantage. Not only can the limited exposure component of the method offer a more private experience for the seller, but it can also simplify the offer process all together and speed up the transaction time. For sellers who are wanting a quick sell, this aspect can be a major incentive to sell their home as a pocket listing. By avoiding listing a property on the MLS you lower the amount of wide spread interest and walk-throughs but, in the right situation, you can also increase the quality and seriousness of the interest received. This brings it back to the agent- because pocket listings take the MLS exposure out of the equation, the quality and health of your CRM and overall sphere plays a major role in how successful you can actually be with this strategy. Not sure if your sphere is up to par? Take a look at this piece we wrote to help you gauge where you stand.

Buyers also occasionally prefer to make offers on pocket properties because less competition means that they are more likely to avoid the grueling bidding war process. Again, depending on the situation this can be negative for both buyers and sellers, but some continue to prefer its more simplistic approach and pursue it anyway. For the sake of transparency, some in the industry feel as though agents should always present pocket listings as an option on the table for their clients. This could be risky for both the client and the agent if handled improperly. As the agent, it’s your responsibility to make sure you’re practicing within the laws, which vary among states, and making the pros and cons associated with the method abundantly clear so that sellers can make informed decisions and you can cover yourself against any potential violations.

Like I said, this topic is complex, and people are all over the board in relation to how they feel about it. The practice is very unregulated, meaning there aren’t reliable statistics reflecting how many agents are actually engaging in it. It does, however, seem safe to say that it’s usage is significant considering tech companies, like this one, are viewing it as an opportunity to create a structured platform for it. Regardless of whether you believe this approach to be an epidemic or a tool, it’s important to analyze its effect on the market from all angles because let’s face it- you’re bound to run into it eventually, and you’re going to want backup.

Posted on June 29, 2018 at 4:44 pm
Tam Nguyen | Category: Productivity | Tagged , , , , , , ,

Do Your Agents Have Enough Contacts in Their CRM Sphere?

By Maddie Jostol, Marketing Manager

As seen in Mile 62 eMagazine

crm contacts

Agents rely on their brokerage for coaching and guidance. Your brokerage tools and resources directly contribute to their success and are what make them feel like their career is supported. As you and your managers coach agents on the importance of a CRM and how they should best utilize such a system, guidance has to be specific. The first step to using any CRM is to get your database of contacts cleaned up and uploaded. So, how many contacts should they have in there?

Simply put, the bigger your sphere of influence, the more people within your sphere who will be buying or selling a home. Growing their sphere of influence is vital for growing a sustainable business. For agents, growing a real estate career means growing your sphere of influence. It’s all about making connections and being known in your area as the trusted, go-to person for real estate. Leads are getting scarce as the competitive market continues to heat up. Agents need a sustainable book of business filled with opportunities for repeat and referral business. So, when it comes to contacts in your CRM, how many is enough?

Historically an agents’ database was a list of contacts kept in their phone. Those days are long gone. While this is a fantastic start, an agent’s book of business requires and deserves more care than that. Those contacts should be synced with a system that enables the agent to truly engage with those people as well as organize and grow their business.

Having contacts organized and loaded into a CRM enables agents to truly nurture those contacts. They can automate touchpoints to stay top of mind, segment their database as necessary, and keep track of conversations they’ve had and the history of their relationship with each person.

So, what’s the magic number? We recommend agents have a bare minimum of 100 contacts in their CRM. Once you hit 100, your sphere likely extends past close friends and family to include contacts you can market to and generate leads from. It’s a large enough pool to ensure growth, with people who are not only part of your closest spheres, but have their own groups of friends and acquaintances to refer you to. You sphere is constantly expanding – as people in your sphere communicate with their own sphere, your reach increases.

We recently looked at user data for our Moxi Engage CRM – focusing on users with at least 100 contacts, three or more sales flow conversions, and three or more contacts in an automated marketing programs. We found that these users typically close 31% more sides than users who aren’t leveraging the system in such a way.

At the heart of the sphere-selling methodology is relationships. Each person in an agent’s database represents a relationship that will contribute to their success. Referrals are the highest quality leads you can get other than repeat business. A strong sphere is the number one way to generate referral leads, as long as that database is well taken care of.

Posted on June 21, 2018 at 8:30 am
Tam Nguyen | Category: Productivity | Tagged , , , , , ,

Defend Your Brokerage Fortress: The Solution to Margin Compression

By York Baur, CEO of MoxiWorks


As we all know too well, there’s a feeling of impending doom when it comes to the future of dollars retained by the brokerage. Brokerage margin compression has been accelerating in the past few years especially, but no one seems to be discussing legit ways to battle it. And last I checked, hope is not a strategy.

A few Moxians attended the Gathering of Eagles event that REAL Trends puts on every year, and here’s what the retained company dollar average for brokerages across the nation looks like over the past several years:

brokerage margin compression

The brokerage dollar is ever-shrinking. Some may argue it isn’t a big deal since home prices have gone up, compensating on a raw dollar basis. That only works in a market with rising prices, and we all know that merry-go-round will stop at some point. We need a real plan for dealing with margin compression – it’s a core problem our industry faces. Don’t forgot that 25% of the RealTrends 500 didn’t make it through the last recession. Do you want to be part of that 25% when the next one hits?

In the face of all of this the “disrupters,” as they like to call themselves, are putting massive pressure on the need for the brokerage to have a technology offering to their agents and technology isn’t cheap. Even as a technology guy myself, I am not shy to admit it. So, how do you thread that needle? How do you buy the best technology, so you can have the best offering to agents in a world where you, the brokerage, don’t have margin to work with?

To preface this, I absolutely stand by my original viewpoint that the traditional brokerage, the impenetrable fortress that it is, has the most valuable asset that exists in the entire industry: relationships with agents, and the agents with the consumers in their sphere of influence.

With that said, here are what I believe to be viable elements of a plan for traditional brokerages to combat margin compression.

Open Platform – Not a shocker
You all knew this was coming. I won’t dive deep, but future-proofing can easily be done by getting your brokerage on a proper open platform that allows you to plug in new tools and unplug old tools just like power strip. Having an open platform means retaining your current technology investments and maintaining a foundation for all the technology changes to come in the future. And don’t be scared by claims that the disruptors will build better technology themselves internally. Over $1B has been invested in real estate tech each of the last two years, so no one company has a lock on building the best technology in every category. Having an open platform that allows you to take advantage of the best of real estate tech today and in the future trumps a “we can build it all” approach every time.

Say it with me: Recruiting, retention, AND productivity
Pick great tools that actually drive agent productivity as well as recruiting as retention. Industry wide, if you ask any broker, “what’s the most important thing in your business?” they’ll say to recruit and retain. But that’s wrong. It should be recruiting, retention, and productivity. If you focus on productivity as a major pillar of your business, it amplifies your recruiting and retention, and it’s where you actually make money. Having non-productive agents at your brokerage doesn’t make you money, it costs you money.

Many brokerages chase the shiny object, so it enhances their recruiting and retention efforts, but it doesn’t move the needle. To that point, it’s imperative to eliminate the shiny objects and steer clear of the temptation of them. They will end up costing you more than you ever thought.

Technology is NOT a single expense line item
Don’t think of technology as a single expense. Think of technology and marketing expenses together, because the two worlds have fundamentally blended. Digital marketing is inherently fused with technology and the other way around. As proof of this, an ongoing trend across all industries is the blending of the CTO and CMO roles.

Technology is not a necessary evil expense item, but as something to be used along with other marketing activities as a combined marketing and technology spend. What form of marketing these days doesn’t involve technology? Almost none.

And while I’m on my soapbox, can we please stop talking about expenses and start talking about investments? Every decision you make to spend money on something should be thought of as an investment. That means that you should expect to have a return on your investment, have a plan for making your investment work, and measuring your return over time. For example, in our case we check agent performance with our tools – agents in brokerages that are our customers do 40% more transactions when they use our stuff. That’s real productivity, and real top-line growth. Make investments and grow your business versus “managing expenses” like an accountant.

Trying to save your way to prosperity almost never works, so get on with a proactive plan to invest in a technology platform and tools to boost agent productivity. Not only will your top line grow, but you’ll be able to better stand your ground in negotiations with agents over their split, because they’ll understand that you’re helping them grow their business vs. just offering them a desk and the ability to rent your brand.

My call to action: have a plan. Focus on agent productivity. Have goals and measure yourself to them. Use technology and digital marketing to support your plan. The great news is that the traditional brokerage fortress is very hard to penetrate. But even the most impenetrable fortress can get sacked if the King doesn’t have a plan for defending it.

Posted on June 11, 2018 at 3:40 pm
Tam Nguyen | Category: Productivity, Recruiting & Retention | Tagged , , , , , , , , ,

Why The Right Brokerage CRM Can Be a Goldmine

Choose wisely, and your brokerage could see agent productivity increase by 40%

As seen in Mile 62 Magazine – By Andrew Eberting 

A CRM should be the epicenter of your customer and prospect data – and your brokerage. Not having the right one implemented at your brokerage, you cost yourself and your agents the #1 thing that matters most: Money.
If profitability and growing market share is not for you, no sweat. However, if you do want to own the competition in every possible competitive category, then keep reading.

1.) Ease of Use

For Your Agents: One of the biggest factors that impact agent adoption of your brokerage’s tools is its ease-of-use or lack thereof. The more approachable your offerings are, the barrier to resistance will also be lowered.
Agents want to do what they do best: create dreams for clients and win more listings. Give them something that accomplishes both, and your brokerage becomes the “it” place to be.

For You: If your current agents are excited about the tools that make their lives easier, think about the impact this can have on other areas of your business.

  • New agent recruiting
  • Current agent retention
  • Growth in market share

If your brokerage platform offering is sound, it will result in the acquisition of more share of your local market. It is a dog-eat-dog world; which one are you going to be?

2.) Scalability and Integration/Single Point of Truth

For Your Agents: If an agent can navigate to a single point of truth for their entire workflow with their sphere, what kind of increase would that have not only with their productivity but also their quality of life?

  • One place to see all their entire database
  • Build a CMA powered by integration with your MLSs
  • Email said CMA to their sphere
  • Turnaround and start marketing current listings or themselves instantly to Facebook and other online channels
  • Send automated closing gifts to clients based on transactional closing history

How much time would be saved each day to log in and find all their tools in one place vs. logging into multiple systems? How much is this time down costing your brokerage?

For You: Staying competitive also means needing to stay current with best-in-class tools. The ability to stay agile while meeting the demands of your brokerage platform (like being integrated across multiple areas of the agent’s daily life) plays a significant role in making you recession-proof the next time the industry retreats. Being able to turn on new tools or keep favorites for your agents, while sunsetting those that have fallen out of favor or compliance, also lowers your annual spend on technology.

3.) Client Success aka YOUR Success Experience

For Your Agents: It is inevitable; at one point or another we all get stuck. With this in mind, sometimes everyone needs a helping hand. Accessibility to success, training, and support is vital to getting back on the proverbial bike and keep going.

For You: A happy agent is a productive agent. Offering your agents a CRM solution that provides multiple channels and assets to help them overcome roadblocks can be gamechanger in their productivity.

70% of Software-as-a-Service (SaaS) end users prefer searching for self-service help related to their issues (Zendesk), meaning an agent’s time-to-productivity can be directly impacted by their ability to resolve roadblocks.

 

Want to know what else to look for in a CRM for your brokerage?

Check out our latest joint white paper with Victor Lund of WAV Group:
How to Choose a Real Estate CRM

 

 

Salesforce (2018, April 03) 4 Trends Customer Service Teams Are Using to Kill the Competition.
Zendesk Customers want to help themselves? 

Posted on April 23, 2018 at 5:12 pm
Tam Nguyen | Category: Productivity | Tagged , , , , , , , ,

Put Money Back in Agent Pockets Without Affecting Your Bottom Line

By Maddie Jostol

qbse header image

We talk a lot about making your brokerage more profitable, but it would be silly if we didn’t touch on the role that agent finances make on a brokerages’ success. How? Let’s quickly break it down: you know you need to retain more agents, agents are always searching for higher commissions, and many agents often struggle to run their business efficiently. Yes, the more smoothly an agent operates their business, the more money they make, and the happier they’ll be, resulting in them wanting to stay at and promote your brokerage. Sound complicated? Don’t worry, it’s not.

Here’s the bottom line: offer resources and recommendations that will help your agents run their business more effectively and it will pay off. The beauty of this is that it often takes very little (if any) time or funding from your brokerage. This can come in many different forms, such as specialized training, sphere selling education, marketing tools and resources, or assistance with tax filing.

Take accounting, for example (an area that many real estate agents struggle with). Too often, we hear the stories of the shoebox full of receipts or unorganized spreadsheets tracking expenses. The truth is, these practices result in a huge loss when it comes time to file taxes. All of the potential tax deductions that could’ve saved some serious cash are, instead, a blow to the wallet.

For a real estate agent, this is a big deal. It’s vital that they have a profitable, sustainable business in order to stick with the brokerage they know and love. When we came across QuickBooks Self-Employed, we instantly knew it was the perfect solution to these pain points. It’s an inexpensive, easy-to-use, reliable accounting solution built for independent contractors that saves agents time and money ($4,340/year on average, to be exact).

It made us wonder: why aren’t more brokerages recommending solutions like this to their agents? It costs the brokerage nothing to make these resources known, yet they often aren’t offering support outside of the standard.

Sure, educating your agents about tools like QuickBooks Self-Employed might not seem to benefit your business at the surface level, but remember that successful agents make successful brokerages. QuickBooks Self-Employed makes agents more efficient and helps them retain more of the money they make. Remember what we said about happy, money-making agents effecting your bottom line?

Provide your agents with what they need to be successful and you’ll find your brokerage more successful in turn.

Interested in learning more about QuickBooks Self-Employed? Agents can get QuickBooks Self-Employed for just $5/month. Take advantage of our exclusive discount here.

Posted on April 12, 2018 at 4:18 pm
Tam Nguyen | Category: Productivity | Tagged , , , , ,

How Facebook changed real estate marketing for better or worse

By Tiana Baur

Facebook is definitely not everyone’s favorite topic right now, especially when it comes to politics. That may not be our scene, but the Book has affected the real estate industry fairly heavily as well. It has changed the way we look at digital marketing and the way brokerages and agents alike view social media as a business tool.

In our industry, there are now specific tasks that are expected. Creating a business page and implementing property ads to your marketing campaigns are now the status quo. If you’re not doing them, you’re falling behind, and if you don’t at least update your page 2-4 times a week, you’re not doing nearly enough.

It has also become one of the hot topics to write about – every update, newsfeed changes, ad creation, features, etc. There are millions of blogs and articles giving tips of how to use the channel to its fullest (we have quite a few in our repertoire as well). It’s all due to the fact that Facebook has become the ultimate channel across all forms of social media – it’s where the world hangs out… or at least 2 billion people do. Therefore, it’s where all your prospects and clients are hanging out. So, whether we like it or not, the Book is still king, and therefore is a channel no one can ignore. Not the agents, or the brokerages, or even companies like Moxi. We’re all slaves to the Facebook Machine.

It’s also why we completely transformed our Moxi Marketing suite. Although agents know they need to be active on it, they don’t necessarily know where to start, or how to effectively advertise their listings or themselves. With over two billion active people on Facebook, we felt it was important, no, vital for agents to showcase themselves and their business on the channel in every way possible. Plus, we also wanted to take some of the pain out of Facebook, so agents can spend more time focusing on their precious spheres.

Our Facebook Ad tools, Advertise Your Listings and Advertise Your Services, are some of our absolute favorites. We’re especially excited about Advertise Your Services, the latest installment of the Moxi Marketing suite, since it has all the juicy goodness that is Advertise Your Listings, only this time it’s for agents’ personal brand and business. Like previously done in Advertise Your Listing, you can link to your personal Facebook Business Page, and if you don’t have one you can still use it. Even if you have no personal profile, even if you never ever want to have to type facebook.com into your navigation bar, you can use Advertise Your Services (and Advertise Your Listing). Talk about leveraging the Book with very little effort!

We try to not only focus on trends, but what we’re hearing from our clients. That’s why Moxi Marketing was created and why we’re rooting it on and celebrating its successes. If we can put just a few more hours back into an agent’s week – we’re happy. At Moxi, we’re only as good as our tools and we stand by calling them the best-in-class. Try these time-saving tools out today – won’t regret it.

Posted on March 23, 2018 at 3:54 pm
Tam Nguyen | Category: MoxiWorks, Productivity, Tips and Tricks | Tagged , , , , , , , ,

Goal-Setting 101: Set Yourself Up for Success This Year

By Maddie Jostol

goal-setting header image

2018 is your year to not only reach, but to exceed your business goals. If you either a) didn’t set goals for 2018, or b) have already lost track of them, making you think that maybe you didn’t go about goal-setting in the best way, then this guide is for you. Goal-setting gives you direction. It ensures all of the work you’re doing serves a purpose. There is no one thing that you are doing to make your business reach its goals. There is no silver bullet for real estate agents. In reality, it’s an accumulation of things, which is why having goals in place is so important. It means all of those little things can map to something bigger and add up to success.

Make that money.

At the end of the day, you’re working to make money. There is no one-size-fits-all formula for how much a real estate agent (or anyone, for that matter) should make. Think about how much you need to make in order for this year’s work to be worth it. What is your time worth? How much time and effort are you planning to give? What pieces of your life do you need to fund and how much will you need to make in order to do that?

Once you take those questions into consideration, begin to form your financial goal for the year. Next, calculate your GCI (Gross Commissionable Income) goal. This is important as it’s directly relatable to the day-to-day progress you’re making. Each time you complete a transaction, you can see exactly where you are on your path towards your annual goal. If you’re a Moxi Engage user, be sure to input your GCI goal in your Moxi account. This way, you can easily see your goal reflected on your Moxi dashboard, as well as the progress you’re making towards it.

Get real.

It’s really important to make your goals realistic and achievable. Of course, we encourage you to stretch yourself and reach for the stars, but make sure your goals are within reach. The last thing you want is to get discouraged and leave your goals behind altogether.

Follow through.

We’re all too familiar with the new year’s resolutions that fizzle out after a month or two. We’re hitting that point in the year when the gym is quieting down drastically after being packed for the last few months. Why? Because without a plan, it’s inherently difficult to follow through on your goals.

When goal-setting, consider the steps you’ll need to take to reach said goals. Write them down – even if it’s a rough list. This will not only help you gauge whether or not the goals you’re setting are realistic, but it will give you direction and get you on the right track as you set out to reach those goals.

Get your ducks in a row.

When your business runs smoothly, you’re better prepared to reach your goals. Part of goal setting should be getting the right systems in place for you to surpass those goals. As an agent, you are running your own business, which means accounting and tax filing take up time you could be using to close more deals. As independent contractors, most agents struggle with proper accounting since keeping your business finances sorted is such a pain. When it comes time to file taxes, you’re left sifting through a box of crumpled receipts and losing out on deductions because you didn’t have time to record and categorize everything.

QuickBooks Self-Employed helps independent contractors keep track of their finances all year, saving time and stress. When it comes time to file taxes, all of your expenses are auto-categorized to match your Schedule C and the average user saves $4,340 on taxes. With a snapshot of your business income vs. expenses, available on your app in real time, you always have a view of how your business is performing to ensure your goals are on track. Get a reliable system in place now! We’re offering 50% off your first year – check it out here.

Posted on March 19, 2018 at 4:08 pm
Tam Nguyen | Category: Productivity | Tagged , , , , , , , , , ,

The number one reason why realtors need to advertise on Facebook

save time advertising on facebookBy Maddie Jostol

If you aren’t already, get on Facebook now. Agent ads are what is going to drive your business and doing so on the largest social media platform is key. We understand it seems like a time consuming and overwhelming undertaking, but it doesn’t have to be. Use the right tools that help you work smarter, not harder.

The number one reason you need to advertise on Facebook: exposure. This may seem obvious, but its importance is often overlooked. Growing your sphere is the number one way you’ll be able to sustain and grow your real estate business in such a competitive market. What role do Facebook ads play? To put it simply, you’re getting your personal brand in front of a massive, targeted audience, with the click of a button.

Facebook not only has a huge pool of people, with 1.15 billion daily users, but it’s also the perfect platform for real estate. Facebook is visual, but informative. What’s that mean? Content that is successful on Facebook is eye-catching, yet informative, meaning a beautiful picture of a home (with some information and details on the listing available) does really well on Facebook. Consumers don’t only appreciate it, but they now expect digital marketing to be a part of an agents’ offering. Agent ads on Facebook are a simple way to impress your clients with the ability to show them how many eyes you got on their listings.

We recently expanded our Moxi Marketing suite, adding Advertise Your Services, which allows agents to promote themselves and their business quickly and easily. You just log into your MoxiWorks account, follow three guided steps, and voila! You can have promotions up and running in five minutes.

One concern we commonly hear from agents is that they know they need digital marketing, but they don’t want social media ads linked to their personal account. Use a system like Advertise Your Services, which doesn’t require your personal Facebook account to be linked. In fact, you can run agent ads without having a Facebook account at all.

Promote both yourself and what you do. Agent ads promoting both the service the agent offers and their success (active listings, recently sold listings), demonstrate that agents’ expertise. Gain exposure by marketing yourself – get in front of potential clients and make your name known in your area. Then, each time you win a new listing, boost it on Facebook. Not only will this win over your clients as they’ll be able to see the effort you’re putting in to market their home, but it will also generate leads for you as an active and successful agent.

Here’s the key: don’t wait. Get your marketing ramped up now. Gaining exposure through agent ads is a vital piece of ramping up for the busy season. You want your name to be well-known in your area as those listings start rolling in.

Posted on March 6, 2018 at 5:47 pm
Tam Nguyen | Category: Productivity | Tagged , , , , , ,