How To Change Your Business for the Better

Five questions to ask yourself when creating your business plan.

I’ve got some great information for agents that I am excited to share today. Have you ever thought about business planning? For many people, it’s not a fun topic to consider. However, I believe it’s essential. Just like you wouldn’t go on a road trip with no map or sense of direction, you shouldn’t continue your business without an idea of where you want to go. 

Having a plan for how to get from where you are to where you want to be is

extremely formative, so I have created a list of five questions to ask yourself

in order to make that plan:

1. How much money do you want to make? In the next year, how much money do you need to make to cover your bills and live the life you want to live? It’s important to quantify these things.

2. How are you going to get real estate business? Are you going to focus on buyers, sellers, or have a blend of both? Have a specific goal to target.

“Having a plan will completely change your business for the better."

3. What is your cost of sales? For example, know specifically what it costs for the overhead of your real estate company.

4. What are your expenses? You can’t know everything that will happen, but there is a lot you can predict. What do you plan to spend on marketing? Do you want to hire an assistant? Be prepared for how much money that will cost, and know if it’s in line with what it should be.

5. What is your plan for taxes? Many people forget about this expense, but you should be setting money aside to prepare.

All this to say, are you an agent living off of cash flow, or are you running a business that has a profit? To be the latter, you have to create a plan, and you can do that with those five questions. I admit that I used to be the former, but becoming the latter has completely changed my business for the better. 

If you have any questions about this, or if you need help creating your business plan, I would be honored to help you! Email me anytime; I look forward to talking with you.

Pricing Your Home in Today’s Market

There are three key things to consider when pricing your home today.

So you’re selling your home: How do you price it in today’s market? That is the question of the hour right now. Even we agents are asking that question. Here are some things to consider when pricing your home in today’s correcting market.

1. Don’t price your home too high. Over the past couple of years, it felt like we were getting away with murder as sellers. We could price our home however we wanted to. Today, though, it is crucial that our pricing isn’t too high. That’s where your agent will be spending a lot of their time.

2. Price under the market. You want to be just under the target price to attract more buyers and get bid up to where you ought to be. If buyers perceive that the home is going for a good deal, they’re more motivated to bid on it quickly out of fear of missing out.

“It felt like we were getting away with murder as sellers."

3. Work with a professional. You need an agent who really understands that the market has changed. When agents and appraisers are looking at the value of a home, they’re only looking back around two months because that’s when the market began to shift. While it’s tempting to look at homes that sold a year ago for comparison, it’s just not an accurate way to get a price.

At the Charlotte Mabry team, we’ve got the professionals for you to partner with to get top dollar for your home in this shifting market environment. Please reach out to us via email, and we’ll help you get your home sold for the most money and in the quickest time possible. Make it an awesome day.

How To Protect Yourself From Loan Fraud

Six ways you can help protect yourself against wire fraud and other threats.

As you near closing, you’ll probably get a lot of messages about sending money towards the transaction. If you’re not careful with these, you may end up a victim of fraud. How can you verify these emails and ensure you’re not sending your money away? Here are a few ways to protect yourself:

1. Speak with your agent and learn about the process. Ensure these emails are from the right person and coming at the right time. Don’t just wire money because they’re asking about your closing; that’s one of the biggest frauds we see today. 2. Confirm the numbers and call them. Don’t just communicate by text or email—pick up the phone and call. 3. Beware of any last-minute changes. These can happen, but make sure you call and confirm before you act on any change you hear about in an email.

“When thousands of dollars are on the line, you have to verify everything."

4. Check your wiring instructions. Your wiring instructions will come to you via email, but again, call and confirm that these are the correct instructions. 5. Never email your financial information. Even if the email seems legitimate, never share your financial information. You might have noticed a theme here, but I would advise you to call and give them the information over the phone. 6. Confirm callers’ identities. If someone calls you, ask some questions and confirm their identity. You might hate being too suspicious, but when you’re spending thousands of dollars, you have to verify everything and make sure your money is secure. If you have any questions or need help closing, call or email us. We’d love to hear from you.