What is the 1-3-5 of Real Estate Business Planning?

 Looking to improve or start your real estate career? We're here to help you make a smart decision when it comes to growing your business, improving your bottom line, and choosing a place to work in real estate sales. If you'd like to learn more about working with The Perna Team, contact me at (248) 886-4450 or MichaelPerna@kw.com

Today, we take a look at a crucial aspect of any successful company or individual: business planning! We're going to talk about a business planning tool called the 1-3-5 before getting into the 411, and calendar stages in later videos.

Agents all over the world tend to over complicate the 1-3-5 plan. However, it's really simple when used correctly - it's a tool used to keep you focused and drive your business forward. Let's break it down a bit:

• The "1" in 1-3-5 stands for the one overriding goal you have for 2015. 
• The "3" stands for the three things it will take to get to the goal. 
• The "5" stands for the five concrete strategies you can put on your 411 and eventually your calendar to achieve your goal. 

Don't make this strategy more complicated than it needs to be! It's a simple tool that, when used correctly, will help you grow your business in 2015. 

If you have any questions about this fantastic tool, don't hesitate to give me a call or shoot me an email. I would love to help make 2015 your best year yet!

The Final 3 Steps in Pre-Qualifying a Buyer

 Looking to improve or start your real estate career? We're here to help you make a smart decision when it comes to growing your business, improving your bottom line, and choosing a place to work in real estate sales. If you'd like to learn more about working with The Perna Team, contact me at (248) 886-4450 or MichaelPerna@kw.com

The Final 3 Steps in Pre-Qualifying a Buyer

We are here today to bring you the final 3 steps of LPMAMA, our system for pre-qualifying buyers. We hope you find these tips useful to you and your clients. Without further ado, here they are:

Agent

It's against the Realtors code of conduct to take clients away from other agents, and we all need to play by the rules. Your reputation is the most important thing you have as an agent, and it's very difficult to get back if you lose it. If you are talking to a prospective buyer and they mention they have already been working with another agent, proceed with caution. Contact the agent that they have been working with to confirm their relationship. If their agent happens to be out of town, maybe you could ask if it's OK for you to show them a home. 

Mortgage

You want to make sure the consumer can afford the home they are looking at. A lot of time, clients will lie to you and say they have been approved even if they haven't, just so you will show them houses. It is just not worth the time and money to do this. One way to get a straight answer to this question is by asking indirect ones like, "Have you looked at interest rates yet?" If they say they haven't, chances are they are not pre-approved.

Appointment

Always close with the appointment. You can move this step around in the process, but if you can lock the consumer in for an appointment at any time, do it. Instead of asking direct questions to set up appointments, use indirect ones like "Does Tuesday or Thursday work better for you to see a home?" or "Would you rather look at homes in the afternoon or the evening?" Whatever their answer to these questions is, it's a good answer.

There you have it, the final 3 steps of our LPMAMA system for pre-qualifying our buyers. If you have any questions about our process, or about anything else relating to real estate, give us a call or send us an email. We'd love to chat. 

The First 3 Steps to Pre-Qualifying a Buyer

 Looking to improve or start your real estate career? We're here to help you make a smart decision when it comes to growing your business, improving your bottom line, and choosing a place to work in real estate sales. If you'd like to learn more about working with The Perna Team, contact me at (248) 886-4450 or MichaelPerna@kw.com

The First 3 Steps to Pre-Qualifying a Buyer

You want to make sure your buyers are pre-qualified before you show them houses. We use a system called LPMAMA. We will go over what each of these letters stands for in the coming weeks. Today, the first three:

Location
Just by asking a simple question like, "Where are you looking to live?" will help you find the homes a buyer is looking for and where they want to be. Get more specific and ask if they are looking to be close to any certain schools, or areas of town. Every town in our area has its own quirks, knowing them will help you and the buyer out in the long run. 

Price
It's amazing how many consumers have no clue what price point they are looking at. Many consumers, we have found, will be looking for a home that is thousands of dollars above or below what they can afford.

Motivation
This is the number one piece of information you can gain from the conversation. The best question to ask is if there is a specific time frame that they want to be in a new home. This will give you great insight as to why they want to move. If they say they want to move quickly, you will be able to set the appointment right away. If they aren't looking to move right away, skip the appointment and proceed to follow up with them at a later date.

There you have it, the first three letters of LPMAMA. As always, thanks for joining us. Next time, we will go over the last 3 steps of the process, which are, in our opinion. the most important. In the meantime if you have any questions, please give us a call or send us an email. We would be glad to help.