Attracting and retaining the best employees are two completely different concepts. Hiring the best is usually a streamlined process of seeking out the most qualified and skilled individuals and getting them to view your organization as a positive workplace to be in. But after hiring is complete, it is their turn to interview you, in a way. They finally get to see what is behind the front door at your organization. Hiring the best employee for the job is one thing, but retaining the best employee for the job is a whole other arena in the business world. Yes, each of these instances may be difficult, but it is arguable that retention has become the bigger of the challenges.
The Great Resignation of 2020 During the COVID-19 pandemic of 2020, we experienced what is now known as “the Great Resignation.” On the surface, thousands upon thousands of employees left their jobs for various reasons. But one of the most…
Posted On Tuesday, 24 October 2023 00:00 Written by
Connecting creates opportunities. Failing to connect leads to failure. Connecting incorrectly is worse than not connecting at all, because it leads you to believe you are doing something of value but are wasting valuable time. As part of business planning for 2024 it is important to look at how you are connecting with people as well as the people you are connecting with. Here are some simple things to look at:  Personal Connections 10 personal calls or interactions per day Birthday calls Anniversary calls (annual reviews) Follow-up or update calls Professional Connections Social media posts, tags, or shares Realtor support posts Other Professional shares Product & Service provider posts & shares Information/Value Connections Video tutorials Video coupons Video professional support Local event support   Your business relies on connecting with people and by providing exceptional value in the process. The quality of the service is often judged by the quality…
Posted On Monday, 23 October 2023 00:00 Written by
Existing-home sales faded in September, according to the National Association of Realtors®. Among the four major U.S. regions, sales rose in the Northeast but receded in the Midwest, South and West. All four regions registered year-over-year sales declines. Total existing-home sales[i] – completed transactions that include single-family homes, townhomes, condominiums and co-ops – waned 2.0% from August to a seasonally adjusted annual rate of 3.96 million in September. Year-over-year, sales dropped 15.4% (down from 4.68 million in September 2022). “As has been the case throughout this year, limited inventory and low housing affordability continue to hamper home sales,” said NAR Chief Economist Lawrence Yun. “The Federal Reserve simply cannot keep raising interest rates in light of softening inflation and weakening job gains.” Total housing inventory[ii] registered at the end of September was 1.13 million units, up 2.7% from August but down 8.1% from one year ago (1.23 million). Unsold inventory…
Posted On Thursday, 19 October 2023 07:03 Written by
Last week we spoke about the limited time left to get deals in that will close and get you paid this year. It is part of the overall business planning process I work my people through so they can close out the year strong and be building into the next year as they complete the current year. Last week we looked at where our opportunities have come from this year. We also were looking into how many files were completed, scheduled to close, under contract, as well as the total number of preapprovals we have in our queue, both active and dormant. This week we need to take a good look at where those opportunities are coming from this past year, the past six months, and the past three months. Referral partners can ebb and flow with opportunities, sometimes it’s just the way things go, but other times there are…
Posted On Monday, 16 October 2023 00:00 Written by
We have all heard that the key to becoming a successful business is effective communication and collaboration, but do we really know what that means? Unfortunately for many business leaders, they believe they do. But the reality is they actually struggle with the concept. Back in 2013, the CEO of Yahoo! announced via memo that employees would no longer be able to work remotely and must come back into the office from Monday through Friday. Revoking the remote environment was done under the assumption that getting employees back in the office would increase collaboration and company culture. However, the plan backfired. Instead of it boosting morale, employees felt pressure to either quit if they wanted to continue working remotely or relocate if they wanted to keep their job. As a result, the entire company suffered due to its leadership’s poor communication technique.
The thing about communication and collaboration is that they are closely intertwined…
Posted On Tuesday, 17 October 2023 00:00 Written by
According to a recent Redfin report: New listings have inched up this fall, giving the buyers who remain in the market a few more homes to choose from. But many buyers are retreating as mortgage rates stay elevated. New listings of U.S. homes for sale have ticked up 2% since the start of September, and listings haven’t fallen as much from summer to fall as they typically do. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. What home sellers are doing: A few more homeowners are putting their homes on the market, despite being locked into relatively low mortgage rates. The total number of homes for sale is down 14% from a year earlier during the four weeks ending October 8, but that’s the smallest decline since July. Advice for sellers: Take advantage of still-rising prices; the median sale price is up 3% year…
Posted On Saturday, 14 October 2023 07:36 Written by
Joint proposal would reduce spread between mortgage rates, Treasury bonds   The Independent Community Bankers of America (ICBA), Community Home Lenders of America, and National Association of REALTORS today proposed a solution to reduce historically high long-term mortgage rates relative to long-term Treasury bonds. The groups’ plan would reduce the historically large spread between 30-year mortgage rates and 10-year Treasuries to promote homeownership affordability.
“With housing accounting for nearly 20% of the nation’s gross domestic product and affecting homeowners and renters nationwide, policymakers must act to promote housing affordability,” ICBA President and CEO Rebeca Romero Rainey said today. “ICBA and the nation’s community banks call on the administration to implement our plan to address lending challenges and mortgage-servicing impediments, which could support demand for mortgage-backed securities and reduce mortgage rates by an estimated 100 to 150 basis points.” With the combination of high mortgage rates and low housing…
Posted On Friday, 13 October 2023 09:33 Written by
The median U.S. asking rent was little changed from a year earlier for the sixth straight month as an increase in the number of rentals made it harder for landlords to boost prices The median U.S. asking rent rose 0.4% year over year to $2,011 in September—the sixth straight month in which rents were little changed from a year earlier. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. Prior to that, rent growth had been slowing rapidly for roughly a year, coming back down to earth after a surge in prices during the pandemic.
The median asking rent fell 2% from a month earlier in September. “Rents have flattened because a boom in apartment building in recent years has flooded the market with supply, but they haven’t yet posted a substantial decline because there’s still demand for rentals—especially as high mortgage rates…
Posted On Sunday, 08 October 2023 06:43 Written by
We design products and services with the intention of fulfilling distinct customer needs or catering to niche requirements. But as technology advances and customer needs change, we need to find new ways to tap into the ever-changing market in innovative ways. This does not have to mean we change our products entirely. It may just mean reinventing and redefining the product as well as our selling techniques to accommodate the changing industry and landscape of customer needs. The way to increase sales and your bottom line is not to completely scrap your product and start from scratch. Equally, it is vital to not rest on your laurels and treat it like a cash cow either. The key is to redefine old technology, systems, services, and products and turn them into future opportunities that appeal to larger audiences, other industries, and the wants and needs of your customers.
It Starts with a Change in…
Posted On Tuesday, 10 October 2023 00:00 Written by
October brings us into the fourth quarter of the year, the last three months to do all the things we set out to achieve. However, given the way our system works, we don’t get paid when we get the client to agree to the sale, we don’t get paid even at the point of sale, we get paid AFTER the transaction closes and sometimes even the second pay period after that transaction closes. What does this mean? Simply put, we have about 65 days left to meet a customer, help qualify that customer, have them find a house, get the offer accepted, go into contract, and then CLOSE, all before December 15th for you to receive that income this year! While all transactions up until December 29th will certainly count to your annual production numbers for 2023, it isn’t likely you will get paid for deals closing after December 15th in 2023.…
Posted On Monday, 09 October 2023 00:00 Written by
A homebuyer on a $3,000 monthly budget has lost nearly $40,000 in purchasing power over the last year, as mortgage rates have risen from around 6.5% in October 2022 to nearly 8% today. The glimmer of hope for the housing market: a small September uptick in new listings. Mortgage rates hit their highest level in more than 20 years this week, pushing homebuyers’ monthly housing payments to all-time highs. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. A buyer on a $3,000 monthly budget, for instance, can afford a $419,000 home with a 7.7% mortgage rate, roughly the daily average on October 4. That buyer has lost $38,000 in purchasing power since last October, when they could have bought a $457,000 home with a 6.6% rate. And by that time, buyers had already lost a significant amount of purchasing power since the start of…
Posted On Friday, 06 October 2023 06:34 Written by
Leadership and the workforce is at a time of notable metamorphosis as Baby Boomers slowly but surely leave the workforce and the younger generations, including Millennials and Gen Z, bring about a true wave of professional digital transformation. Given the recent presence of the COVID-19 pandemic and the current landscape of rapid disruption and change, the demand for Anticipatory Leadership is more crucial than ever. It is essential to guide this emerging workforce effectively both in the present and future.
I had the distinct opportunity to speak with a good friend of mine, Mark Sanborn, in a recent Opportunity Hour: Conversations with the Masters. Throughout our discussion, we delved into the transformations that the work landscape has undergone both in the lead-up to and during the pandemic. We also explored strategies for effectively leading the workforce of the future. With the increasing frequency of global disruptions and the anticipation of more…
Posted On Tuesday, 03 October 2023 00:00 Written by
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