Real Estate Best Practices

Coaches, books, classes and seminars aim to capture real estate agents dollars with promises to teach them any number of ways to improve their business. From sales skills to how to close more deals to how to win with expireds (expired listings) and more, everyone has something to teach you.


There's nothing wrong with continuing education, whether it's keeping on top of new laws and regulations or learning how to be more productive. But before you spend an arm and a leg on any of those things, pull up a chair, put on your glasses and peruse the pages in this section of ActiveRain.


It is only here that you can tap into the world's largest online real estate community and actively engage with your peers. Find out what works and what doesn't from those that actually put into practice what others merely teach. Read how-to articles, advice on designations, certifications and continuing education classes. You never know where you will find the inspiration to take your business to the next level. So, pull up a chair and dig in!

Recent blogs on Real Estate Best Practices
By Frank Worrell, Turning BPOs Into Six-Figure Incomes
(BPOS FOR LIFE LLC)
Introduction: The Challenge of Waterfront BPO ComparisonsBroker Price Opinions (BPOs) are essential tools in real estate, offering valuable insights for various decisions. However, when it comes to waterfront properties, the challenge intensifies. Different bodies of water can significantly influence a property's value, making the comparison process intricate. How do we ensure accurate valuations in such scenarios? Let's delve deeper.The Unique Nature of Waterfront PropertiesWaterfront properties are coveted real estate assets, often fetching premium prices. However, not all waterfronts are created equal. The type of water body a property overlooks – be it oceanfront, front bay, or back bay – can have a profound impact on its market value.Discovering the Price Per Square Foot Discrepanc...
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By Frank Worrell, Turning BPOs Into Six-Figure Incomes
(BPOS FOR LIFE LLC)
Introduction: The BPO Challenge in Unstable MarketsBroker Price Opinions (BPOs) become particularly crucial in volatile markets, where property values can fluctuate significantly and rapidly. Real estate professionals, lenders, and investors alike seek accurate, reliable BPOs to make informed decisions. But how does one ensure the precision of a BPO amidst market instability? Let’s delve into some strategies and showcase how a seasoned expert can make a pivotal difference.The Significance of Accurate BPOsIn an unstable market, accurate BPOs are not merely helpful; they are indispensable. They provide the necessary data to make informed decisions regarding property sales, purchases, and investments, ensuring that stakeholders are neither undervaluing nor overvaluing a property.Strategies...
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By Frank Worrell, Turning BPOs Into Six-Figure Incomes
(BPOS FOR LIFE LLC)
Title: Introduction: A Unique Property ConundrumEnvision a stately 10,000 square foot home, gracefully positioned amidst a newer neighborhood where the majority of homes are notably smaller. The task of determining its value becomes a distinctive challenge, especially when comparable sales (comps) are scant or non-existent. How does one traverse through the meticulous process of finding comps for such a unique property? Let’s explore the multifaceted world of real estate valuation under these circumstances.The Crucial Role of Accurate CompsComps are pivotal in real estate as they assist in determining a property’s market value by comparing it to similar properties that have recently sold. But what transpires when a property is so unique that finding similar ones becomes a challenge? Thi...
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By Frank Worrell, Turning BPOs Into Six-Figure Incomes
(BPOS FOR LIFE LLC)
What is a BPO?A Broker Price Opinion (BPO) is a way to figure out the value of a property by looking at its features and comparing it to similar properties nearby. Real estate brokers do this, and it’s often quicker and less expensive than a full appraisal.BPOs: More Than Just a Quick SolutionWhile BPOs are known for being speedy and cost-effective, they're not just used for quick decisions. They play a vital role in various real estate scenarios, not just when time is of the essence or budgets are tight.BPOs in Different Scenarios Divorce Cases: When couples split, they often need to know the value of their shared property to divide assets fairly. A BPO can help determine what a home is worth without the cost and time of a full appraisal. Wall Street: Investment firms and Wall Street o...
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By Lori Mode, Real Estate Made Simple
(The Mode Real Estate Group)
  We'd love it if you'd LIKE this video, and SUBSCRIBE to our channel!Within 8 SECONDS of looking at photos of a house online, buyers have made their decision about whether they’re interested or not. 8 SECONDS! Attention spans are shot nowadays, and home buyers are no exception.The first impression your home makes is of the utmost importance. This is why stylish staging is critical to getting top dollar for your home. And it doesn’t have to be hard or expensive!Just a few easy tips go a long way to attracting buyers’ attention and getting them to stick around and view more.Tip 1: Lighting is everything. Great lighting is the difference between your home feeling like a warm and cozy retreat, or the interior of a cold and musty warehouse. Use light temperatures that match the decor and am...
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By Lori Mode, Real Estate Made Simple
(The Mode Real Estate Group)
  We'd love it if you'd LIKE this video, and SUBSCRIBE to our channel!Let's face it: we've all got that one relative (let’s be real, it’s dad) who fancies themselves a real estate savant. They've bought a house or two in their day, and now they're the Warren Buffet of your local neighborhood.As a homebuyer, navigating their unsolicited "expertise" can be a real contortion effort.Here are some tips to keep the deal on track while keeping dad happy!1. Flattery Will Get You Everywhere: Start by acknowledging their experience and showering them with praise. You know, the old "Wow, Dad, you were a real pioneer in the 80's homebuying game!" This'll soften their ego and might even make them more open to accepting that the market has changed since they last signed on the dotted line.2. Misdirec...
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By Bob "RealMan" Timm, Owner of Ward Co Notary Services retired RE Broker
(Ward County Notary Services)
We are often asked (here and by clients) how we got into Real Estate. While the question may at times be disingenuous it is a golden opportunity for us to share our passion for what we do.If you convey your passion for serving others you are going to excite your clients even if the question was only asked as a conversation starter. If your passion is NOT serving others but for making money then they are going to know that they are secondary at best.If you are sincere let them know your joyis in serving them.The picture above was taken from Mark Conner's Space, a Christian website worth visiting.
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By Patricia Feager, MBA, CRS, GRI,MRP, Selling Homes Changing Lives
(DFW FINE PROPERTIES)
Recently I heard Admiral William H. McRaven (U.S. Navy Retired) address the REALTORS® at the 2023 TEXAS REALTORS® Conference in San Antonio. I enjoyed listing and receiving pearls of wisdom from the Admiral. This past weekend I went to the Book Store and noticed he has a new book out, First Edition 2023, and I bought it. It's a quick read and quite powerful too! Highlights of a few chapters include: Chapter Four: We All Have Our Frog Floats - "Be proud of every job you are given."  Chapter Eight: Who Dares Wins - "No leader should confuse daring and audacity with brashness and impudence." Chapter Nine: Hope Is Not a Strategy - "If you stretch your attention too widely, nothing great gets done." Chapter Fourteen: Expect What You Inspect - Your "work will be judged, reviewed, inspected, a...
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By Frank Worrell, Turning BPOs Into Six-Figure Incomes
(BPOS FOR LIFE LLC)
IntroductionIn the realm of Broker Price Opinions (BPOs), there are many paths to success. Kurt, a seasoned real estate professional, has not only excelled in BPOs but also diversified his income by securing listings from asset managers. This post will delve into Kurt's journey, offering valuable insights for those intrigued by the concept of passive income and the allure of BPOs.The Allure of BPOs: A Brief OverviewBPOs serve as a cornerstone in the real estate industry, offering a quick and cost-effective way to assess property values. For professionals like Kurt, BPOs are more than just a job; they are a stepping stone to other lucrative opportunities, such as securing listings from asset managers.Kurt's Journey: BPOs and BeyondKurt initially focused solely on BPOs but soon ventured i...
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By Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets, CEO of Vision Drive Realty - Coastal San Diego
(Big Block Realty 858.232.8722)
Top 5 Things a REALTOR Can Do in the Fourth Quarter - The Ninja Selling WayAs a real estate professional, the fourth quarter of 2023 is a critical time to close out the year strong and set the stage for success in the coming year. To thrive in the real estate market, it's essential to embrace the Ninja Selling philosophy, which emphasizes building relationships, providing exceptional service, and achieving sustainable success. In the spirit of Larry Kendall's Ninja Selling approach, we'll explore the top 5 things a REALTOR can do in the fourth quarter to finish the year on a high note. While I'm known as a disciple of Buffini & Company - I need to point out I've been a Ninja Selling agent longer than a Buffini-coached agent!1. Reflect and Set Clear Goals:In the Ninja Selling philosophy,...
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By Frank Worrell, Turning BPOs Into Six-Figure Incomes
(BPOS FOR LIFE LLC)
🚀 Introduction 🚀Welcome back to another episode of the Coconut Chronicles! Today, we're diving deep into the art of navigation, not just in the literal sense but also as a metaphor for personal growth, relationships, and business acumen. For seasoned agents like many of you, who have ridden the waves of market changes, today's focus is on a less shiny but more stable coin—BPOs.🌊 The Early Years: A Young Navigator 🌊As a young boy, my imagination knew no bounds. My uncle Tilford's plumbing toolshed doubled as my spaceship, complete with laser guns and a complete navigation station. But sometimes, my uncle would rearrange the toolshed, and my starship controls would go haywire. I had to adapt, regroup, and reorganize—lessons that would serve me well in the years to come.🏠 The Real Estate B...
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By Peter Mohylsky, Beach Expert, Call me at 850-517-7098
(PMI. Destin)
Renovate to elevate! Investing in your home's renovation is an ideal way to enjoy upgraded living while maximizing your return on investment.  There is a difference between renovation and regular maintenance and  even tho the line blurs sometimes.  There is NO renovation that brings back 100% of the cost.  So I recommend that you renovate your dwelling at some point of time before you consider selling.  Enjoy the renovation then if you must sell for top dollar and in minimum time  From modernizing kitchens to revitalizing bathrooms, each upgrade adds value to your property, promising a higher return when the time comes to sell.Let's transform your space and unlock the full potential of your home's value together!#realestate #realestateagent #listreports #buying #selling #realestateexper...
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By Realtyna Inc, WordPress Real Estate - IDX, RESO Web API, CRM
(Realtyna)
The real estate industry is no stranger to technological advancements, and as we approach 2024, it’s crucial to stay updated with the latest trends that are set to reshape the landscape. In this article, we will explore the most promising real estate technology trends expected in 2024 and how they will impact various facets of the industry.1. Artificial Intelligence (AI) and Predictive AnalyticsAI and predictive analytics are set to revolutionize real estate in 2024. These technologies will enable professionals to make data-driven decisions, from predicting property values to identifying the most suitable investment opportunities. AI-driven chatbots and virtual assistants will also enhance customer service, providing instant responses to inquiries.2. Augmented Reality (AR) and Virtual R...
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By Frank Worrell, Turning BPOs Into Six-Figure Incomes
(BPOS FOR LIFE LLC)
Hello everyone,Are you interested in generating passive income through Broker Price Opinions (BPOs)? If so, I have an exciting opportunity for you!I've created a free course that's designed exclusively for those who are looking to earn passive income in the real estate industry. This course will provide you with the tools and knowledge you need to optimize your BPO workflow and maximize your earnings.Why Take This Course? Expert Guidance: With over 15 years of experience in the BPO industry, I've mastered the art of providing efficient and accurate valuations. I'll share my proven methods with you. Passive Income Stream: This course is tailored for those who are interested in generating passive income through BPOs. Learn how to set up your business to earn money even when you're not act...
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By Frank Worrell, Turning BPOs Into Six-Figure Incomes
(BPOS FOR LIFE LLC)
IntroductionRecently, I came across a Facebook conversation that caught my eye. The topic? The time it takes to complete a Broker Price Opinion (BPO). The answers varied widely, from spending an entire workday to just about 20 minutes. This disparity got me thinking: Why is there such a significant difference in time investment, and how can I help?The Facebook Conversation: A SnapshotThe conversation began with a real estate professional sharing her struggle with Asset Valuations, mentioning that it takes her almost an entire workday to complete a single BPO. She wasn't alone; others chimed in with similar experiences. Some mentioned they were spending an hour or more, especially when the BPO required extensive documentation and images.My Approach: Efficiency is KeyWhen I read these com...
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By Peter Mohylsky, Beach Expert, Call me at 850-517-7098
(PMI. Destin)
Rainmakers VS. Deal-Makers Thank you to Peter Mohylsky, Beach Expert who asked the question this morning:"Working on your business vs working in your business. How do you define each? Who started this idea? How do you keep them straight?" Excellent questions and there is a very important distinction! Well, let me tell you, my friend, there's a world of difference between working on your business and working in your business, and it's a distinction that every entrepreneur needs to understand. As I replied to Peter:"Who started it really doesn't matter as much as who's imparted it on you in a way that reached you, caused you to take action and it benefitted you!"I continued with a truncated explanation of the more detailed version below... Many will claim they started it. I first heard th...
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By Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets, CEO of Vision Drive Realty - Coastal San Diego
(Big Block Realty 858.232.8722)
Thank you to Peter Mohylsky, Beach Expert who asked the question this morning:"Working on your business vs working in your business. How do you define each? Who started this idea? How do you keep them straight?"Excellent questions and there is a very important distinction!Well, let me tell you, my friend, there's a world of difference between working on your business and working in your business, and it's a distinction that every entrepreneur needs to understand. As I replied to Peter:"Who started it really doesn't matter as much as who's imparted it on you in a way that reached you, caused you to take action and it benefitted you!"I continued with a truncated explanation of the more detailed version below...Many will claim they started it. I first heard the concept from the likes of th...
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By Dr. Paula McDonald, Granbury, TX 936-203-0279
(Beam & Branch Realty)
Today I had the pleasure of closing on a home for some of my dear friends. It's always a little nerve-wracking to sell a friend's home as we all know the pitfalls when working with friends and family. In this particular case, I just had to write about the exceptional service we received from a new title company in town.McKnight Title provided a start-to-finish service from the moment they opened the title until the closing today. Here are some specifics:🏡 COMMUNICATION. The emails, texts, and phone calls we received throughout this transaction were far and above anything I have ever experienced. (I have been in this business for 18 years).  What made this different was how this company provided very detailed timelines for expectations for my clients.🏡 FRIENDLINESS. Not only was the comm...
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By Joe Jackson, Clintonville and Central Ohio Real Estate Expert
(Keller Williams Capital Partners Realty)
Understanding the basics of cost segregation is essential for property owners and investors. This blog provides a clear and concise overview, highlighting the potential tax benefits and advantages it offers. As a realtor, I often discuss these strategies with clients who are looking to maximize their returns on investment properties. Knowledge is power in the real estate world, and this blog delivers valuable insights. Well done!Have a super fantastic week!Joe Jackson, Realtor-KWCP Are you a Real Estate Owner or Real Estate Investor? You Need to Know and Understanding Cost Segregation and How it Benefits Real Estate Investors Owning a property, let alone investing in one is no easy feat. It takes considerable amounts of time, effort, and resources. However, what if we told you that ther...
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By Frank Worrell, Turning BPOs Into Six-Figure Incomes
(BPOS FOR LIFE LLC)
 IntroductionHello once more, Active Rain community! Following my last blog post about the art of choosing comps for Broker Price Opinions (BPOs), today we're diving even deeper. We'll discuss the key differences between BPOs and Comparative Market Analyses (CMAs), the importance of making a strong first impression with BPO companies, and the often-overlooked avenue of BPOs leading to listings.The Many Uses of BPOsContrary to popular belief, BPOs are not just for foreclosures or short sales. They are versatile valuation tools used in various scenarios, including: Wall Street investment analyses Divorce cases Loan modifications Bankruptcy proceedings Spot-checking of property values by loan servicers BPO vs. CMA: A Quick RecapBroker Price Opinion (BPO)A BPO is a formal valuation report u...
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