19800 MacArthur Blvd Suite 650
Irvine, CA 92612

Call us today
844-818-2274

recruiting agents

Real Estate Agent Recruiting Tactics

We all know that agent recruiting is the life blood of any successful real estate office, and it should be the goal to recruit the most, best agents.  But how does a real estate brokerage actually go about doing this?  Here are some of the tactics used by the most successful recruiters from around the world.

  • Some of the best agent recruiting is done by your current agents! Ask your agents whom they’ve enjoyed working with on past transactions, and whom they look up to at other offices.  Then provide incentives (trips, meals, a boost in their split) for the agents that provide you with the best referrals.
  • Get involved with charities and your local community. Sometimes the best way to find good real estate talent is in the most unlikely of places, and being involved in communities outside of your industry will help you grow your network immensely.
  • Get involved in communities in your industry, too! Hold a new agent training for your local board, and make sure to follow up with any qualified candidates.  Have your agents support you in this endeavor, and encourage them to follow up as well.
  • Email all of your top recruiting targets with their end of year sales and what they could have made working for you- NOTE: make sure you are confident of their current splits and that this would compare favorably before sending.
  • Organize an outing or mixer for some of your top agents to mingle and socialize with your top recruits, so the recruits can get a feel for what will allow them to continue to grow and succeed.
  • Everyone wants to grow their network, make sure you not only connect with your potential recruits on social media, but ensure that you impact your relationship with them positively.

Once you’ve had a chance to implement all of these tips, recruiting will no longer be about hunting whatever agents you are able to convince they should switch to you, but rather farming your various networks for the most, best agents around.

Happy recruiting!

Zillow CEO responds to new competition from Facebook and Amazon

Zillow Logo

As one of the largest, if not the biggest, players in online real estate listings, Zillow is watching its list of competitors rapidly grow with more and more companies eyeing the potential in the real estate market.

Zillow may dominate the space right now, raking in $266.9 million in revenue in the second-quarter of 2017, but top-producing companies like Amazon and Facebook have recently encroached in Zillow’s territory.

But the small moves from others in the industry to take some of Zillow’s long-standing dominance isn’t enough to scare the CEO.

It is enough, however, for investors to ask Spencer Rascoff, CEO of Zillow Group, about the growing competition. Zillow Group includes brands like Zillow, Trulia,SreetEasy, HotPads, and Naked Apartments.

Slipping in an answer to one more question that was submitted online before wrapping up the earnings call, Rascoff answered the question, “What do you see from Amazon and Facebook in real estate?”

Here’s Rascoff’s full response:

“With respect to Facebook, as I’ve already said, our partnership there is strong and advertisers/agents view us as an effective way to buy Facebook advertisements, more effective than from buying it directly from Facebook. In the case of either of these horizontal players, I do think it’s very difficult for horizontal players to compete with vertical companies that are focused on the vertical and have as big a brand as our family of brands have. And I do think it’s also important to understand how this ad product that we have differs from other ad products. We saw an ad product that connects the consumer with the real estate professional at the time and place that they’re shopping for a specific home. That’s very different from Amazon’s rumored directory of real estate agents or Facebook’s ad product that tries to drive traffic back to a brokerage website. So, a lead generation product that’s tied to a home search is quite different, and I think will always be more attractive to an advertiser than a branding ad product or a product that tries to drive traffic to their website. So those are some of our concluding thoughts on our ability to compete with horizontal players.”

The competition from Amazon is not nearly as concrete as the competition from Facebook.

Back in July, Amazon quietly made a move in to the real estate industry. Tucked into the website’s Home and Business Services section, where users can receive quotes from professionals for various services including assembling new purchases or setting up new technology, Amazon listed a “Hire a Realtor” webpage. But the page wasn’t up long and was taken down the same day HousingWire reported on it.

The announcement from Facebook was a lot more prominent and actually happened shortly before Zillow reported its earnings. Earlier this week, Facebook rolled out Dynamic Ads for Real Estate allow brokers and agents to advertise their listings directly to Facebook and Instagram users who searched for properties on the broker’s website.

An article by Monica Nickelsburg in GeekWire explained that the ads would compete with Zillow’s product, which allows real estate agents to advertise to prospective homebuyers and sellers on its site, according to the article.

Attractive blonde young woman at the wheel in her new car

Realtor Tips – Buy vs Lease Vehicles

Realtor Tips - Buy vs Lease Vehicles

Realtor Tips – Buy vs Lease VehB

Realtor: Buy vs Lease

A typical realtor makes well informed decisions when it comes to the vehicle they are going to drive.

In today’s economy, if car dealerships had it their way, everyone would be leasing their vehicles.

For starters, the shorter term life cycles of leases guarantee more transactions will happen, keeping dealer volume high.  When a customer returns a vehicle on lease to the dealership, multiple transactions happen.  In addition, customers enjoy the perks of a short term lease, such as a full manufacturer warranty, and customer loyalty is always the goal.  This is the dealer’s best case scenario.

Do Your Homework

Any realtor looking for a new ride will want to map out goals ahead of time.  Having a plan of what you want will help avoid the pitfalls of an unethical salesperson.  If you are going to consider a lease, keep in mind that realtors drive more than almost any other profession.  In fact,  National Association of Realtors (NAR) estimates the average realtor driving in excess of 30,000 miles annually for business alone.

Dealerships often offer leasing as an attractive option due to a lower monthly payment, but this can be misleading. The monthly payments may be lower and tempting, but so is the annual mileage allotment.  Exceeding this mileage allotment will result in extra payments, and possibly even a higher payment than the purchase option.

Let’s see which real estate agents should NOT lease:

Any agent who drives more than 17,000 miles per year. NAR estimates that its own agents average about 30,300 miles annually for business-related driving. If you do that much driving from open houses to showings, or if your lease is not set up correctly (cannot afford the payments of high mileage lease), don’t get talked into leasing a car. Since leasing companies charge between 15 – 30 cents per mile you drive over their standard limit of 10,000 miles annually, a 7,000 mile overage could end up costing as much as $2,100 at the end of the lease.

The Decision

If you are not into changing cars every three years, and would like to buy one and drive it until you are ready for a change.

If pre-owned is an option. You can save several thousands of dollars on a one-year-old, low mileage pre-owned vehicle.

It’s practically impossible for buyers—who on average only buy three to five cars in a lifetime—to keep track of it all and be informed enough so no one takes advantage of them. There are many loopholes and facts to be aware of and so make sure you do your homework before going into the dealer.

About Us:

Express Cash Flow provides commission advances for real estate agents and brokers.  Check us out at www.ExpressCashFlow.com or call us at 844-818-2274.

referral

Building The Best Referral Base

Referral Base Is Key

Much is made of how real estate agents are always doing business “by referral only” and mention that the best compliment you can give them is a referral of a family member, friend, or associate.  This is on business cards, email signatures, personalized notepads and perhaps even hanging on a sign in real estate offices.  But how do all these real estate agents go about building the referral base they seek?  We’d like to share with you some of their tricks of the trade.

  1. Always be involved in your community: This doesn’t just mean involvment in your community to secure buyers and listings, but also when it has NOTHING to do with real estate. Get to know the people living in your community.  Become an advocate for these issues and make yourself a local presence, for everything that isn’t about your own self-interest, and you will start to your referral base grow.
  2. Pick a Non-Profit You Are Passionate About, and Support It: This gives you an opportunity to do work that you care about.  It also helps build a network of like-minded people. What’s more, non-profits are generally led by successful people whom are more likely to transact in real estate, and eventually be a boost to your bottom line.  See?  It really is all for a good cause!
  3. Be A Resource for Others: One of the best ways for people to remember you as a savvy business person is to always have what they need, right then. This means knowing the right contractor, plumber, electrician, landscaper, photographer and hairdresser at a moment’s notice.  Being the resource people trust in the business community will help you build relationships.  In time, this will lead to reciprocity amongst your referral base.
  4. Pick A Strong Networking Group: Many industry veterans will tell you that belonging to a networking group is a must.  BNI, Toastmasters, Le Tip, ProVisors and other networking groups are all great options. These groups are crucial to building your networking skills and referral base.  However, it is crucial to pick the right group.  If the whole group is new to their business together, this will be a slower path towards growth.
  5. All The face time: In today’s world of modern day technology, we have more ways than ever to avoid actually sitting and talking with other people. We can email, text, call, Facebook Message, Tweet or Snapchat all of our contacts.  We’re to the point where getting face time is not the same thing as FaceTime.  We humans are social creatures, and the best way to stay top of mind is the old fashioned way.  This means being in the same place at the same time, and having meaningful conversations.  So schedule coffee, lunch, drinks, dinners, gym sessions or walks on the beach.  Spend time with people.  People who enrich you both personally and professionally, and whom have genuine interest in your business.  The ROI on this time spent with another real live human is the best way to grow your referral base.

About Us:

Express Cash Flow provides commission advances for real
estate agents and brokers.  Check us out at www.ExpressCashFlow.com or call us at 844-818-2274.

referral

family-photo-of-new-house-being-built

Best Mortgage In America

family-photo-of-new-house-being-built

Mortgage Today

Applying for a mortgage can be a tough task for aspiring homeowners.  Especially so for borrowers with low to moderate incomes or perhaps less than stellar credit. While the availability of credit in the early-mid 2000s made it possible to get a mortgage, this was irresponsible.  These types of mortgages would typically include a teaser rate, eventually leading to payment shock.

These days, NACA seeks to avoid that mess.  In addition to a wide depth of resources available to homebuyers to ensure they get the best possible deal, NACA also provides what has been dubbed the “Best Mortgage In America”.  This means that qualified borrowers will be able to take advantage of the following mortgage perks NACA has to offer:

  • No down payment
  • No closing costs
  • Below market interest rates
  • No Points
  • Buy-downs to near-zero interest rates
  • No fees

Seem too good to be true?  For once, it isn’t!  What’s more, NACA is not a program only available to people with certain income or credit scenarios, it is available to all qualified borrowers who do not currently own a home!  Even if the desired property requires more renovation than the buyer can afford, NACA will finance that renovation as well to allow the buyer to purchase their dream home, even if it is a fixer-upper.

This underutilized and underpublicized product is a great tool in the tool belt of first time homebuyers and realtors alike who are striving to get the best deal.

You can read more about the different programs available at www.NACA.com.

 

About Us:

Express Cash Flow – Commission advances for real estate agents and brokers www.ExpressCashFlow.com.

When to lock mortgage rate

When to Lock a Mortgage Rate

When to lock mortgage rateReal estate agents are often asked to advise homebuyers on financial matters especially on mortgage rates and when to lock them in. These can be difficult conversations, because things like whether to lock or float an interest rate can be guess work. A mortgage rate lock simply guarantees a specific interest rate if a loan closes by a particular date. Rates can often be locked for up to two months. At Express Cash Flow, we work with agents to keep their cash flowing with commission advances, and we’ve picked up a few tips for homebuyers who are deciding when to lock in an interest rate.

Commission Advance Cost?

700x400_1 - Green Background

How much does a commission advance cost?

 

This is usually the first and most important question to real estate brokers and agents who inquire about commission advances. This is a very reasonable question, but not a simple one.

While other companies have flat fee or fixed pricing based on the amount requested for an advance, Express Cash Flow don’t operate that way. This is almost always to the benefit of the agent requesting the advance.  A one-size fits all approach doesn’t take into account the different variables of a real estate transaction.  It also doesn’t factor in experienced agents and inexperienced agents. If no two transactions and no two agents are exactly alike, then it makes sense that those transactions have different risks. If they have different risks, then it would only make sense that those different risks resulted in different pricing. So, what are the different risks, and how do they affect the commission advance cost?

Transaction Risk
No matter how solid a real estate deal seems, there is always the chance that it could fall apart. Sometimes a buyer is unable to qualify for financing, or has a cash emergency. While this is rare and unfortunate, it does happen. There are a number of hurdles to each transaction, and any of them can be its undoing. As such, an advance requested early in the lifespan of the transaction will always be more expensive.

Agent Risk
While there will always be risks associated with a transaction, we also measure your production history as a real estate agent or broker and the risk associated with a replacement transaction should your transaction fall apart. The more history of closed transactions you have, the lower our risk, and the lower your pricing will be.

Delay Risk
It is also entirely possible that there will be delays.  Because of this, we have to have protection from these delays since close of escrow date determines pricing. So, the only fees you will ever see besides our initial quoted fee is if your property does not close escrow on time. Note, however, that the close of escrow date we agree on does not have to be the same as the close of escrow date on the purchase agreement. In order to avoid these fees, you can project a close of escrow date after the scheduled close of escrow, which is a savvy, cost saving move.

Conclusion
There is only one right answer to our most frequent question “How much does a Commission Advance Cost?” That is, we don’t know yet, but would be happy to look at your scenario individually.  If you’re able to provide us all of the details, we should be able to give you a ballpark price.  The good news is, unlike some of our competitors, we give you the full amount you ask for and are paid back only at close of escrow, so our interests are aligned with yours throughout the transaction.

About Us:
Express Cash Flow provides commission advances for real estate agents and brokers. Check us out at www.ExpressCashFlow.com or call us at 844-818-2274.

How to Appeal to Millennial Homebuyer IMAGE

How to Appeal to the Millennial Homebuyer

In a world where millennials are more likely to walk into your home in search of Pokémon than to check out your kitchen remodel, home sellers may want to take a step back and assess how appealing their home is in its current state to the next generation of homebuyers. Often ignored as a generation that prefers renting, that trend has reversed course, as millennials have been the largest sub-group of homebuyers in 2013, 2014, and 2015 according to the National Association of Realtors.

Once home sellers are paying attention though, it is important to take note of the nuanced preferences of millennial homebuyers. While it may seem obvious that the home needs to be “hip”, there are a number of things sellers can both do and avoid to accomplish that goal. Here are some “Do’s and ‘Don’ts” of selling to millennials:

How to Appeal to Millennial Homebuyer IMAGE

Do:
• Focus on the home’s sleekness by adding modern light fixtures and window coverings.
• Use newer flooring materials like hardwood, vinyl or patterned tile
• Stick to light colored walls with darker floors for a glamorous look
• Use high tech “smart home” features to enhance the home’s “future value”
• Stage the home with sleek furniture to give it a finished, move-in ready look

Don’t:
• Have family portraits or old-looking art cluttering up your home during showings
• Utilize old fashioned décor such as wallpaper, rocking or recliner style chairs, antiques or quilts
• Allow deferred maintenance that might appeal to the bargain hunter but not the millennial
• Too many mirrors or full length mirrors

Following these tips can get the newest (and largest) demographic of homebuyers to look more closely at your home, but you’ll still need to stay top of mind throughout the negotiation process in order to successfully open (and close) an escrow. The last thing millennials will want is to have to wait more hours or days than necessary to get a response, so you’ll want to coordinate with your real estate agent efficiently. This means that the days of waiting until all parties can physically be in the same location are over. With email, text, file sharing and cell phones, it should be fairly easy to take the next step in a negotiation within 24-48 hours, and millennials expect this. Make sure you find a realtor who can meet these demands and is familiar with negotiating in a high tech world.

From there, you’ll also want an escrow company that is as efficient as the millennials expect them to be, to minimize their frustration during the escrow. Of course, there will always need to be some documents that need to be signed in person, such as loan documents or other things that need to be notarized, but many escrow companies will allow electronic signatures, or at least provide a courier or shipping label, so busy millennials don’t have to take time out of their day to go sign documents at the escrow office.

Now that you know how to appeal most to a millennial, go out and apply your knowledge to get top dollar for your home!

About Us:
Express Cash Flow provides commission advances for real estate agents and brokers. Check us out at www.ExpressCashFlow.com or call us at 844-818-2274.

House For SaleHouse For Sale

Top 7 Realtor Marketing Tips

Any business is dependent on marketing in order to grow, and real estate is no different.  In order to maximize the return on your marketing, you want to make sure that you are reaching the right audiences as efficiently as possible.  

Below are some tips to help you optimize your marketing and reach your real estate goals faster.  

  1.  LinkedIn – In recent years, LinkedIn has become the ‘de facto’ platform for professionals to network. Its 300 million user base consists of just about every professional in the commercial real estate, residential real estate, finance, investing, or legal fields you could want to meet, and it offers a powerful marketing and engagement system with blogging, group discussion boards, and search functions. Combined with ultra-targeted advertising, LinkedIn is an important focus for any business in 2016.
  2. Realtor.com – Claim your profile online at Realtor.com.  Post your picture along with your contact information.  This is usually near the top of search engine results because Realtor.com is such a well-known brand, so you want this profile, which is rightfully yours, to reflect your own individual real estate agent branding.  You may also want to consider some of the tools available on your local trade industry’s website, like the ones available on CAR.org  http://www.car.org/tools/
  3. Your Website – Your website is the foundation for all of your digital marketing efforts. If a potential client goes to your website, you want them to be impressed and you want them to contact you.  Your website should funnel all interest and inquiries into either an inbox or voicemail that you check regularly and can respond to quickly. You can look at using ListingbookTop ProducerPlacester or WiseAgent.
  4. Referrals – Referrals are the lifeblood of any successful real estate business. You can work harder than anyone else out there, but if you don’t have a “sales force” of satisfied clients and trusted referral partners, you will quickly fall behind the competition.  The best referrals can come from CPAs, attorneys, mortgage professionals and even other real estate agents that serve other areas.  Think about a commission rebate for your referral, possibly 1% back is a traditional amount.  You might also consider joining a business networking group like BNILe Tip,Toastmasters or a local Chamber of Commerce.
  5. Tap your network via email – There are a number of software programs such as com,Campaigner.com or Constantcontact.com you can utilize to optimize your network. Whether you are using a high priced contact management software or simply keeping track of your contacts in a spreadsheet, being top of mind is key.  One of the most cost effective ways to continually be top of mind is to add value to your network via email.  While you always want to be thought of as the real estate expert in your network, you don’t always need to talk to people only about real estate.  Safe, topical emails that keep you in front of your friends and clients will always frame you in a positive light.
  6. Facebook – Everyone these days is on Facebook. It can be used for just about any purpose, whether it is your client who just bought a new house throwing a party to show off their new kitchen, or the vacation a friend just took based on the referral you gave them to get hooked up with a Home Equity Line of Credit, Facebook is a great way to intertwine your business and personal lives.  Just be sure that you know your audience… you wouldn’t want your Facebook activity to rub potential clients the wrong way.  You can also join Facebook group related to your industry, neighborhood, community, alumni associations or anything else you’re passionate about.
  7. Working Capital – This might be the most important tip of all! You need to constantly be in front of your network, and while email and social media are great for this, there is still something to be said for face time, usually over a meal or drinks.  As the successful realtor that your network assumes you are, you should be able to pick up the tab without thinking twice about it. This means always having cash or credit available, regardless of when your deals are closing.  You’ll also need cash available to consistently send out the marketing pieces that are so important for building a brand.  If you don’t have a good sized war chest available to meet these cash demands when they arise, you may want to consider utilizing a commission advance company such as ExpressCashFlow.com.

Lastly, remember to keep in mind that while you want to market as much as possible, you also want to post an appropriate number of times for the platform you are using.  You would never show up at someone’s door multiple times uninvited in a short period of time, just like you shouldn’t post on Facebook about your business multiple times in a short period of time.  Similarly with LinkedIn.  Posts can be more frequent on Twitter, since the nature of Twitter is to keep up with real time, but you should always make sure that your posts have a lot of value.

About Us:
Express Cash Flow provides commission advances for real estate agents and brokers. Check us out at www.ExpressCashFlow.com or call us at 844-818-2274.

700x400 LinkedIn

 

Female Realtor Standing Outside Residential Property

Cash Before Close- Commission Advances

Female Realtor Standing Outside Residential Property

Cash Before Close

Phil Guertin launched a creative financial business with one element in mind: help real estate agents and brokers get commission advances within minutes to meet critical cash flow issues.

By Rick Weinberg, California Business Journal

If you’re a real estate agent or broker, cash flow is critical for such vital matters as meeting payroll, buying leads, or completing consistent marketing initiatives to keep up with the competition.

Yet with a property sitting in escrow, many agents and brokers often find themselves a little short on funds at those crucial moments. With banks unable to provide loans quickly, agents and brokers can often find themselves in dire straits.

However, thanks to a creative business model designed by Phil Guertin of Irvine, Calif., agents and brokers can get advances of up to $100,000 through Express Cash Flow (“ECF”) in a day—not weeks or months like at a bank, without even a credit check.

Recently, a Southern California agent approached the company late on Friday—15 minutes before the wire deadline. Within 12 minutes, the $2,000 advance was complete. It was the second transaction in less than two weeks that the agent requested. The first was for $5,000.

“There were a lot of moving parts that had to come together between the agent calling and funding the advance so rapidly,” Guertin says. “That’s one of the many major advantages of working with us.”

The company is self-funded and has significant capital behind it to fund commission advances. The company also quickly underwrites each deal since no two transactions are the same.

“It’s a much more streamlined process than any bank can offer,” says Jake Kucheck, Director of ECF. “Banks normally take 30-45 day to review a file, let alone fund the transaction.”

Express Cash Flow has grown exponentially over a six-month period in 2015-2016, advancing to agents and brokers from some of the largest franchises in the U.S., including, Berkshire, Century 21, Coldwell Banker, First Team, John L. Scott, Keller Williams, and many others.

ECF has experienced a 40% growth rate month over month and expect that rate to continue through the end of 2016, Guertin says.  The company has proven marketing strategies that are scalable nationwide.  In just a brief period of time, it has emerged as the top-ranked business in its space in California.

“High repeat business with top franchises and top producers along with great customer service has fueled the growth,” Kucheck says.

Approximately 50% of the business is generated from top real estate grounds and the remaining from independent brokers and agents.

Express Cash Flow features two primary products:

  1. Listing advances of up to $3,000
  2. Commission advances of up to $100,000 (advancing up to 75% of the net commission due)

Both with without a credit check and eligible for same-day funding.

The range of properties Express Cash Flow handles runs the gamut from the low end on a $87,000 property in Texas to the high end on a $15.7 million estate in Laguna Beach.

How do competitors compare?

  1. Express Cash Flow is usually a third less than the largest competitor
  2. Advances up to $100,000 per transaction while most competitors max out at $15,000
  3. The company provides creative custom solutions

Guertin has been in finance and real estate for his entire professional career spanning 20 years.  Previous experience includes:

  • Chief Financial Officer of the Miller’s Outpost family
  • Restructuring of various portfolio companies for private equity firms
  • Whole loan trader at New Century Mortgage trading bulk pools of loans to regional banks and Wall Street firms
  • Other experience in factoring, business intelligence analytics, the family office space and capital markets helped

He researched various business models in real estate and finance and came up with Express Cash Flow, then he decided he wanted to go off on his own and start his own firm.

“I knew this would be a big business because you’re working with real estate and sales people—and real estate is huge in California and Orange County,” he says. “This model had every metric I was looking for in a business—it’s high yielding, it’s short term and scalable on a national level. Advancing $5,000 or more can be risky, but the possibility of a real estate deal closing is 90% depending on when you advance. I saw it as a huge possibility and a great opportunity.”

He built out a complex pricing model to take into account multiple data points for each transaction to price various risk factors.

There are similar business models to ECF, “but we’re more aggressive on our lending limits going up to $100,000 per transaction and we structure the advances in creative ways,” Guertin says. “We underwrite the transaction differently. We look at how active the agents are, how strong the transaction is, and how far out the close of escrow is, which determines the advance pricing. Typically, we save our clients 30 percent or more compared to other companies.”

Says Kucheck: “We saw an opportunity to improve on the existing model by adding a risk-based pricing component. The existing models were more of a ‘one size fits all’ approach. We wanted to give our clients more options.”

No two real estate transactions are alike. Because they’re different, ECF immediately sees what’s different about it and that will translate that into particular grades of risk to determine the cost for advancing funds.

“We review each deal and come up with a precise calculation of how likely it is to close, using our proprietary pricing matrix,” Guertin says. “What we want an agent or broker to do is take a portion of the commissions now and grow their business, buy leads and do their marketing so that it converts into two other leads or open escrows. Yes, you’re getting $5,000 from us, but we want you to get $25,000 or $50,000 from that reinvestment. If you look at that, the cost is very minimal.”

Without appropriate funds for marketing initiatives, for example, an agent cannot be as effective as their competition, which happens to be chasing down the same buyers and sellers.

“We don’t want agents to delay their growth and we want them to stay ‘top of mind,’” Guertin says. “Most agents are waiting for their commissions and then they’re reinvesting it. This way, they get to do it faster.”

Copyright © 2016 California Business Journal. All Rights Reserved

 

Contact:

Express Cash Flow

Phil Guertin, Managing Partner

19800 MacArthur Blvd Suite 650

Irvine, CA 92612

Phone: 844-818-2274

Shopping Basket