Tag: real estate

Real Estate Technology Tools for Teams

Marci Sepulveda Leave a comment

As a busy professional, the sheer amount of new technology that is served up to you on a regular basis can sometimes leave your head spinning. As real estate itself is getting smarter, the pressure to adopt new technologies in your office increases. New platforms and software programs promise to save you time, deliver better leads and automate many of your processes — but they’re not all created equally, and not all of them are created with the real estate professional in mind.

We often hear about the state of technology for consumers, but yet relatively little about how brokerage-specific technology is evolving. For example, overseeing real estate teams requires not only people management but also tracking and evaluating workflow and productivity. As a business owner and a team leader, you have to understand how your team is using their time, communicating with one another, engaging with brokerage clients and prospects, and how paperwork is being completed. You also need to understand how commissions are earned and how leads are being generated.

Smart real estate software provides your agents with everything from lead generation to video editing, as well as open house management software and help with tracking their expenses. The right technology tools can not only help streamline your listings and closings by simplifying transaction management, but they can also help to lead to greater agent satisfaction and retention. Of course, it’s good to know what tools can help you achieve greater productivity within your team.

A mobile-compatible video marketing tool

One of the first things your agents should do is to create a video profile, on top of a written bio, to use with their website. Not only does this allow prospects to feel like they’re getting to know your agents, but it is also proven that video is a more engaging tool than just photos. 

While anyone can create a quick video on their smartphone, using this type of program will allow you to create a more polished and professional-looking video, complete with filters, headers, logos, music, and more.

Try it: WeVideo, BombBomb, Animoto

CRM software designed with real estate in mind 

While CRM programs are certainly nothing new, you might want to consider using one with real estate-specific capabilities. While any CRM is capable of keeping track of your prospects, clients, contacts, and appointments, something that goes beyond the basic canned email message for things such as your clients’ anniversary or notes of congratulations can be instrumental in scaling up your business.

Real estate-specific CRMs also tend to come with relevant add-ons, like website templates, email drip campaigns, and even the ability to integrate directly with your existing social media accounts for a seamless experience. 

Try it: BoomTown, Wise Agent, kvCORE, Commissions Inc, Contactually

A tool for scheduling that works with your calendar

Wouldn’t it be nice if your clients were able to find out quickly when you’re available and book time with you on their own? Imagine all of the back-and-forth communication that could be saved. Fortunately, there are tools and apps that allow your clients to tap into your calendar and book appointments with you directly — saving you time and making the process easier for your clients and prospects, as well. 

Try it: Calendly, ShowingTime

Want to learn more? 

It’s important to keep in mind what real estate technology will help you connect best with your clients. To learn more about the tools that every team needs to manage time, clients, paperwork, commissions, and leads to keep a team running smoothly, sign up for our course The Tech You Need to Manage a Real Estate Team today. 

AgentEDU® is a platform where agents at every level can come to watch 10-minute video courses for the many situations that successful agents must master. From essential to advanced level and everything in between, AgentEDU® courses help agents become top producers with increased earnings and a plan for continued growth.AgentEDU® is an Agent Publishing brand. For 18 years, Agent Publishing has been committed to providing residential real estate professionals with the information and training required to build successful and meaningful careers in their local markets. Agent Publishing’s influence extends to every career stage and reaches agents across print, digital, events and online learning.

4 Programs for Buyers Without a Big Down Payment

Marci Sepulveda Leave a comment

As buying a home is the biggest purchase most people will ever make, buyers will look to you, their agent, to help them navigate the complicated world of financing their home. For many buyers, finding the required down payment money is the most difficult part of the process. For others, it may be more helpful to find a program that allows them to borrow without putting a lot of money down. Fortunately, there are a number of assistance programs for homebuyers that can help to lower the substantial upfront costs of purchasing a home. 

Let’s take a closer look at some financing programs you can recommend to buyers who might not have a large amount saved for a down payment:

1. Federal Housing Authority Loans

FHA loans offer the opportunity to borrow money with a low down payment (as little as 3.5 percent) and still access competitive interest rates. Also the federal program won’t penalize your buyer for having a low credit score. In order to qualify for this type of loan, your buyer must: 

  • Have verifiable income
  • Be able to afford the housing payment and any existing debt
  • Save at least a 3.5 percent down payment
  • Have an established credit history
  • Have a FICO score of at least 580 to 640
  • Purchase a home that does not exceed FHA loan limits

2. Veterans Administration Loans

VA home loans help service members, veterans, and eligible surviving spouses become homeowners. These loans are provided by private lenders, such as banks or other mortgage companies. The VA guarantees a portion of the loan, thus enabling the lender to provide your buyers with more favorable loan terms. In order to be eligible for a VA loan, one of the following criteria must be met:

  • Served 181 days of service during peacetime
  • Served 90 days of service during wartime
  • Served 6 years of service in the Reserves or National Guard

3. Rural Development Housing and Community Facilities Program

Lesser known than its counterparts, this program is administered by the United States Department of Agriculture and is designed specifically for lower-income individuals who either live in a rural community or plan to move to one. This program helps buyers by providing a cash subsidy to borrowers or by guaranteeing a no down payment loan, known as a Section 502 loan. 

In order to qualify for this type of loan, however, there are a few stipulations that must be met: the home must be 1,800 square feet or smaller, it must be the buyer’s main residence, and the borrower must meet certain income eligibility requirements.  

4. State, County and Local Programs 

There are also other down payment assistance programs that can be obtained at the state, county, or even local level. These assistance programs most often come in the form of either a grant or a loan that is known as “silent seconds.” A silent second is a no-interest loan that also doesn’t require a monthly payment to be made. 

To help your client find and secure these types of programs in your area, you can turn to State Housing Financing Agencies. These entities are chartered by the individual states and were established to help local residents secure affordable housing. AgentEDU can point you in the right direction for finding market data in your area.

To learn more about how you can better manage the sales process for your clients, sign up for our course Preparing Homebuyers to Buy today. 

AgentEDU® is a platform where agents at every level can come to watch 10-minute video courses for the many situations that successful agents must master. From essential to advanced level and everything in between, AgentEDU® courses help agents become top producers with increased earnings and a plan for continued growth.AgentEDU® is an Agent Publishing brand. For 18 years, Agent Publishing has been committed to providing residential real estate professionals with the information and training required to build successful and meaningful careers in their local markets. Agent Publishing’s influence extends to every career stage and reaches agents across print, digital, events and online learning.