3 Facebook Updates That Affect the Way You Advertise

3 Facebook Updates That Affect the Way You Advertise

RECBL - Real Estate News

You’ve spent months, maybe even years mastering the art of advertising your real estate business on Facebook; however, there is one constant that we can always count on in regards to Facebook: change. Change can either benefit your current position by giving you more options to work with, or throw you a couple of months off track while you master the updates that replaced features you were accustomed to using or that worked to your advantage.

In the last couple of months, Facebook has rolled out new updates to their Ads Manager that affect the way you advertise your listings, business, and yourself as a REALTOR(R).

These updates include the removal of key options in detailed targeting and the addition of new options to target audiences and new ad layouts that give audiences a more engaging experience.

Facebook Updates

1. Detailed Targeting
In September 2017, Facebook exposed anti-Semitic ad targeting options in the job title/employer sections of their detailed targeting options. Anti-Semitic groups used these options to target ads to hate groups. Facebook quickly took action and removed "self-reported targeting fields" to help the fight against hate speech and discrimination.

However, in the attempt to fight hate and discrimination, Facebook removed a lot of the job title/employer options real estate professionals use to target ads to their audiences. For instance, targeting using job titles such as "real estate sales agent, agent/broker, broker/owner, REALTOR(R)" (options that were once available) are not available anymore.

As winter approaches and you create your 2018 social media marketing plan, this is the perfect time to get organized with Ads Manager and start researching the options available to create the perfect, detailed targeting list.

2. Event Interaction
A great way for agents to bring in leads for open houses is by using Facebook events. Sending all your followers an event invite for your open house can give you insight into those who are interested in the property. Facebook has seen the potential for advertisers to target followers who show interest in the event and are now allowing ads to be targeted to anyone who has marked the invite as "interested," "going," or both.

After the open house, take the list of "interested" invitees and send them a promoted ad of the listing. That way, you gain lead information from those who attended and possibly even those who showed interest in the event, doubling your chances of getting the property sold before the slow winter season.

3. New Canvas Layouts
Canvas ads are beautiful, interactive ads that not many REALTORS(R) seem to use. This ad type takes more time to create, but allows audiences to engage with the ad by choosing the direction they want the ad to take them (you can watch a video of canvas ads here). The only issue with canvas ads was the limited number of templates Facebook had available. Seeing the potential, Facebook released new templates for users to pick from.

Imagine using canvas ads to take your audience through a virtual tour of a home. The first image is the front of the house; followers can then click through the ad to see the home, room by room, in the order that they want to go, falling more in love with the property. This ad type pairs well with the event ad-targeting update to reach followers who couldn’t make it to your open house.

Facebook has been busy this third quarter releasing update after update, and there’s only one thing we know for sure: they will continue to release updates. As a professional using Facebook to advertise your business, you need to grow and expand your knowledge of their ad services, or you can let Homes.coms Social Fuel handle all your Facebook advertising needs. Social Fuel creates ads and posts social content for you so you can focus on selling homes.

For more information, please visit connect.homes.com.

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5 Essential Home-Buying Considerations

5 Essential Home-Buying Considerations

RECBL - Real Estate News

(TNS)-Buying a house is a life-changing process that requires lots of upfront financial planning.

When looking for a home, keep certain factors in mind, including your financial situation, types of available loans, your credit score, the price of the house and your down payment so you can navigate the process smoothly.

Your Financial Situation
Before you buy a house, make sure that your monthly budget can handle such a large expense.

Unless you’re one of the few people who can pay cash for a home, you’ll likely be paying it off for 15 or 30 years, depending on the length of your loan.

In addition to the mortgage payment, you’ll want to factor in expenses like property taxes, homeowners insurance and routine maintenance.

Types of Mortgages
When buying a home, you have a few options for the type of loan you want to use. Two of the most common mortgage types are fixed-rate and adjustable-rate mortgages.

The interest rate on a fixed-rate mortgage stays the same over the life of the loan, with payments divided up into equal amounts that you pay on a monthly basis. The longer the loan term, the less you have to pay each month; however, you’ll likely pay more in interest than you would with a shorter-term loan.

An adjustable-rate mortgage, or ARM, has a fixed interest rate for an initial period, followed by a period when the lender may periodically adjust the interest rate. For example, a 5/1 ARM has an introductory rate of five years. After that five-year period, the interest rate can change annually. With an ARM, you need to consider how much your monthly payment could increase and your ability to pay if it does go up.

Your Credit Score
You also need to review your credit score before buying a house. Your credit score helps creditors determine your creditworthiness. Borrowers with credit scores of 740 or higher generally qualify for the best mortgage deals.

It’s still possible to buy a house if you have bad credit. You likely will have to accept a higher interest rate on your mortgage, which could cost you hundreds of dollars extra per month.

If your credit score drops too low, though, you might not qualify for a mortgage at all. Consider improving your credit score first before trying to buy a house.

The Price of the Home
The higher the price of the house you want to buy, the more you can expect to pay on a monthly basis. When looking at houses, consider your budget and how much you can afford to spend.

Remember to consider your needs, too. Do you have a new addition to the family and need the room? Have your kids moved out and you want a smaller home?

Also, take a look at the price range of the houses available in the area where you want to buy. Compare the prices you find to your budget and determine what home you can afford.

The Down Payment
A large down payment represents one way to reduce the monthly cost of your mortgage. As a matter of fact, a down payment of 20 percent gives you access to better interest rates and prevents you from having to pay private mortgage insurance. So, in addition to lowering the amount you owe initially, a down payment also can get you a lower interest rate, making a house more affordable. There are also mortgages that require no down payment or a small one.

(C)2017 Bankrate.com
Distributed by Tribune Content Agency, LLC




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Why First-Time Homebuyers Are Not Getting In?

Why First-Time Homebuyers Are Not Getting In?

RECBL - Real Estate News

First-time homebuyers are eager to enter the housing market. Getting in the door is another story. First-time homebuyers accounted for 34 percent of sales this year, less than the 35 percent share in 2016 and off an average 39 percent historically, the NAR 2017 Profile of Home Buyers and Sellers shows. First-timers bought costlier, but smaller homes than in 2016, at $190,000 and 1,640 square feet.

The kicker? Many first-timers are in a position to purchase, says NAR Chief Economist Lawrence Yun, but still shut out.

"The dreams of many aspiring first-time buyers were unfortunately dimmed over the past year by persistent inventory shortages, which undercut their ability to become homeowners," Yun says. "With the lower end of the market seeing the worst of the supply crunch, house hunters faced mounting odds in finding their first home. Multiple offers were a common occurrence, investors paying in cash had the upper hand, and prices kept climbing, which yanked homeownership out of reach for countless would-be buyers.

"Solid economic conditions and millennials in their prime buying years should be translating to a lot more sales to first-timers, but the unfortunate reality is that the nation’s homeownership rate will remain suppressed until entry-level supply conditions increase enough to improve overall affordability," says Yun.

Supply is so strained that 42 percent of homebuyers as a whole paid either at or over list price, the Profile shows.

"Many of those in the market to buy a home this year had little room to negotiate," Yun says. "Listings in the affordable price range drew immediate interest, and the winning offer oftentimes had to waive some contingencies or come in at or above asking price to close the deal."

There are factors in favor of first-timers. Homebuyers overall are having an easier time obtaining a mortgage, thanks to lenders loosening standards. Thirty-four percent of first-timers took out a Federal Housing Administration (FHA) loan, up from 33 percent in 2016.

First-timers are also benefitting from the expertise of real estate professionals. Eighty-seven percent of buyers overall relied on a real estate professional in their transaction.

"It’s no surprise a majority of first-time buyers indicated that the top benefits received from their agent were help understanding the buying process (83 percent), pointing out unnoticed property features or faults (60 percent), and negotiating better sales terms (51 percent)," says NAR President Bill Brown. "REALTORS(R) over the past year have helped buyers-and especially first-timers-navigate extremely competitive market conditions where the need to be prepared and act quickly has been paramount to the success of purchasing a home."

There are hurdles. On average, first-timers made a 5 percent down payment, and 25 percent of them reported the most challenging aspect of buying a home was saving for it. The majority of first-timers accumulated a down payment on their own (with 50 percent taking a year or more), while some received a gift from a friend or relative.

Another snag? Forty-one percent of first-timers reported they have student loan debt, with more than half in for at least $25,000. Fifty-five percent of those who reported the down payment as the hardest part of the process point to student debt as an obstacle.

"NAR survey findings on student debt released earlier this fall revealed that an overwhelming majority of millennials with student debt believe its delaying their ability to buy a home, and typically for seven years," Yun says. "Even in markets with a plethora of job opportunities and higher pay, steep rents and home prices make it extremely difficult to put savings aside for a down payment."

The savings and student debt struggle is undercutting not only the opportunity to become a homeowner, but also the opportunity for wealth. Home sellers have realized a median 26 percent ($47,500) since owning their home, the Profile shows, with those owning for just six or seven seeing a median 27 percent return.

For more on demographics, repeat buyers, sellers and more, view the NAR 2017 Profile of Home Buyers and Sellers.

For more information, please visit www.nar.realtor.



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Live a Better Life - 8 Rules to live by

Live a Better Life - 8 Rules to live by

RECBL - Real Estate News

When I first got into real estate, I loved the energy and enthusiasm first-time homebuyers brought to the equation, and this satisfaction factor was why I got my real estate license. As an experienced agent, I learned to manage first-time homebuyers and nurture those relationships.

It was amazing to see how maintaining relationships turned into several transactions by simply staying in touch and providing valuable information from time to time.

The difference between agents who kill themselves to make ends meet and those who make a lot of money isn’t usually the quality of the agent or their love for their clients. Oftentimes, the only difference is the activities they focus on during the day, and the clients they attract through their marketing efforts.

RISMedia CEO Exchange panelist and Workman Success Systems Coach Nate Martinez of Glendale, Ariz., went from being one of the nation’s largest REO agents to running one of the most successful real estate teams with a focus on high-end golf course properties. The transition wasn’t easy, but it’s worth a closer look. Today, Nate earns a great living working with fewer clients each year. The difference isn’t the quality of the agent, but rather, the activities he focuses on.

The median sales price for a home in Glendale is $222,000. Blackstone is a beautiful golf community that Nate decided to farm over the last 12 months. Farming consists of sending direct mail to the homes in the geographic area along with neighborhood and sales information, establishing oneself as an expert. Nate’s average sales price for the Blackstone area is $884,750, and he’s earned over $95,000 in commission selling just four homes in this single farm. What’s interesting is that in order to earn the same amount with a focus on the average sales price for his area, he’d have to sell 16 homes, work with 16 buyers and sellers, and manage 16 transactions instead of four. While luxury buyers and sellers may seem more demanding, we’ve found that they often know more about what they want, recognize the value and services high-quality agents and brokers provide, and are willing to pay for that service.

As you think about where you are in your business and you look at the opportunities that are available, ask yourself whether you’re doing all you can to attract higher-end buyers and sellers. If not, what can you be doing differently?

Here’s a short list of things you can do today to move into higher-end real estate:

1. Start working FSBO and expired listings in a higher price point.

2. Begin your geographic farm.

3. Dress for success. When asked what you do, simply say, "I focus on high-end buyers and sellers by providing luxury listing services. Who do you know looking to buy or sell a luxury property?"

4. Build a premium marketing and pre-listing plan that blows away your competition.

5. Become an expert on all things luxury in your market. Know the homes, the sales and the properties. Put yourself in the middle of the action by going on tours and attending agent opens.

As you do this, you’ll begin to attract higher-end clients, and your life will simplify because you’ll have to sell fewer homes to earn more and enjoy a better lifestyle.

Verl Workman is the founder and CEO of Workman Success Systems (385-282-7112), an international speaking, consulting and coaching company that specializes in performance coaching and building successful power agents and teams. Sign up today for a free business consult with Verl by sending an email to coach@verlworkman.com. To hire Verl to speak at your next event, email events@verlworkman.com.

For more information, please visit www.workmansuccesssystems.com.

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How to Win in Business and Life

How to Win in Business and Life

RECBL - Real Estate News

Our society is captivated by winners-the people who’ve achieved success and the American Dream and make the process look effortless. In America, were guaranteed the right to life, liberty and the pursuit of happiness; however, many people feel the American Dream is impossible to reach today.

As an emigrant who came to America from Ireland with less than $100 and went on to build wealth and a successful company, I think the American Dream is alive and well.

With hard work, persistence, and a commitment to learning, success and the American Dream can be within reach.

Here are seven tips that encourage success:

1. Focus on your goals. When challenges arise, think about the impact that reaching your goals will have on your life. This will help you face and overcome any challenges. If you’ve only recently started setting goals, be sure to write them down...and be specific.

2. Have a positive attitude. People prefer to work with positive people, and your clients are no different. A positive attitude helps build relationships, leading to repeat business and referrals. One of the best ways to develop a positive attitude is to fill your mind with positive stories, music, books, etc.

3. Master the fundamentals. The fundamentals are timeless strategies to use regardless of the state of the market. Instead of relying on gimmicks, focus on the basics-the productive activities that have a proven record of creating results (e.g., phone calls, personal notes, monthly marketing materials and small gifts to your top-referring clients). Do at least two hours of lead generation each day, making it one of your top priorities for the day.

4. Be consistent. Consistency builds habits, and to be consistent, it’s important to have a system. Systems allow you to provide excellent service to your clients and stay connected with them long after the transaction has closed. Do the necessary tasks-daily lead-generating activities and asking for referrals-and the results will come.

5. Find a mentor. Successful people are always looking to improve. Seek a mentor who’s further along the path you’re on and ask for advice and assistance. Having a mentor will ensure you stay on the path to success.

6. Do what it takes. One of the common traits found in the stories of successful emigrants is a willingness to do whatever it takes to succeed. Tap into this trait by practicing longer and more often in order to build your skills, and seek out solutions to the challenges you face.

7. Never give up. It’s impossible to achieve anything if you quit when a challenge arises. Determination is crucial when it comes to achieving success.

The American Dream is alive and well, and by practicing the tips above, you can get on the path to achieve success in both your business and personal life. My belief in the American Dream is so strong that I wrote a best-selling book about it: "The Emigrant Edge: How to Make It Big in America," which is in stores and online.

Brian Buffini was born and raised in Dublin, Ireland, and immigrated to San Diego in 1986, where he became the classic American rags to riches story. After becoming one of the nation’s top REALTORS(R), he founded Buffini & Company, an organization dedicated to sharing his powerful lead-generation systems with others. Based in Carlsbad, Calif., Buffini & Company has trained over 3 million business professionals in 37 countries and currently coaches more than 25,000 business people across North America. Today, Brians a New York Times best-selling author and reaches over 1 million listeners a year through his popular "Brian Buffini Show" podcast.

For more information, please pick up a copy of Buffinis latest book "The Emigrant Edge," or visit www.buffiniandcompany.com.

For more information, please visit www.nar.realtor.

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Women of Real Estate - Flipping Females Real Estate Mentoring

Women of Real Estate - Flipping Females Real Estate Mentoring

FLIPPING FEMALES:

Women entrepreneurs want a place to call their own for their personal and professional lives, a sanctuary for themselves and their families, as well as a stable location from which to grow their business. Business ownership for these women entrepreneurs is precious; they’re capable risk-takers making an impact in the home-buying market just like in the business world.

Flipping Females is a real estate investor group design to teach and mentor women in the real estate industry. Women, teaching women to create and grow their own real estate ventures.

Become a FLIPPING FEMALE today by clicking below and begin creating your own legacy. Flipping Females, real women, real results, real estate investment mentoring.

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Reduce the Legal Risks of Cyber-Crime Victimization

Reduce the Legal Risks of Cyber-Crime Victimization

RECBL - Real Estate News

Your business has been victimized by cybercrime, and your clients sensitive data has been stolen. In the weeks following the breach, you have hired an IT consultant, paid thousands of dollars to an online reputation manager and spent dozens of hours on the phone with your insurance agent. And now, when you’re finally catching your breath, a process server shows up at your door informing you that you’re being sued by your clients for exposing their data.

It might not seem fair, but the devastation caused by cybercrime continues long after a hacker has skulked away with his or her ill-gotten gains. What follows are some tips for reducing your business risk of cyber-crime victimization in the first place, and for minimizing the prospect of legal headaches in the event that you do experience a breach.

Vet Your IT Vendors
Do your homework before contracting with any third-party IT vendors. Once they come on board, their cyber security practices could have a direct effect on the security of your business. Before on boarding an outside vendor, consider these best practices:

Do your due diligence on the company. What’s their online reputation regarding cyber-security? Have they experienced any breaches? If so, how did they handle them?

Review all third-party contracts, preferably with your counsel, and negotiate when possible to ensure that the vendor:

• provides appropriate security warranties;

• indemnifies you for any harm you may suffer because of their bad practices; and

• doesn’t try to impose unreasonable limitations of liability. 

Know Your State Law
Every state has laws that require businesses to take certain data security measures. Youre subject to these laws, and you need to understand them. As a starting point, look up your states definition of "personally identifiable information" or "PII," and determine your obligations regarding the storage, transmittal, and destruction of PII in your possession and control.

You should also find out what policies your business may be required to implement pursuant to state law. For example, many states require businesses to maintain a Data Security Policy, a Document Retention and Destruction Policy, and a Breach Notification Policy. Refer to the National Association of REALTORS(R) newly updated Data Security and Privacy Toolkit for more guidance.

Consider Cyber Insurance
Cyber insurance can add a layer of protection against the devastation of cybercrime. Review your current policies to determine what coverage you may currently have for cybercrime events, then talk to your insurance provider about whether additional coverage may be of benefit. In addition to cyber insurance, ask your agent about social engineering endorsements and crime riders, as each of these products offers a different kind of coverage. Understand that there are vast differences in the various cyber insurance products currently available on the market, and make sure to tailor your coverage to the particular vulnerabilities faced by your business.

Warn Your Clients About Cybercrime
Email-based wire fraud continues to be a major threat to real estate transactions. Be sure to warn your clients in writing about the possibility of wire and other cyber-based fraud. This not only helps put your clients on notice about wire fraud; it could also help you in the event of a lawsuit following a successful wire-fraud incident.

Implement Reasonable Security Practices
The best way to avoid the legal nightmare that follows a data breach is to avoid a data breach. Period. For a handy checklist of security practices for real estate professionals published by the National Association of REALTORS(R), please visit: www.nar.realtor/law-and-ethics/cybersecurity-checklist-best-practices-for-real-estate-professionals.

Jessica Edgerton is associate counsel for the National Association of REALTORS(R).

This column is brought to you by the NAR Real Estate Services group.

For more information, please visit www.nar.realtor.

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