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)
 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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By Frank Worrell, Turning BPOs Into Six-Figure Incomes
(BPOS FOR LIFE LLC)
 IntroductionGreetings, Active Rain community! As real estate professionals, we all understand the pivotal role that Broker Price Opinions (BPOs) play in property valuation. One key factor that can significantly influence the accuracy of a BPO is the selection of comparables, or "comps." Today, I'm thrilled to give you a brief teaser about an exclusive webinar that will focus on mastering the art of choosing the right comps for your BPOs.The Importance of CompsThe comps you select can be the difference between a reliable BPO and an inaccurate one. A well-executed BPO can influence transactions, win clients, and bolster your reputation in the real estate market.Common PitfallsSelecting the wrong comps can lead to inaccurate valuations and missed opportunities. Our upcoming webinar aims t...
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By Patricia Feager, MBA, CRS, GRI,MRP, Selling Homes Changing Lives
(DFW FINE PROPERTIES)
It was a hot 98 degrees when the sun set as I left the Robson Ranch Clubhouse in Denton last night. Beyond the field with the setting sun were roadways before getting on I-35W that were lined with sunflowers. As a student at Olli University of North Texas, I attended "Witnesses to History: A Panel" discussion. The planned event was scheduled to feature three individuals who experienced JFK's assassination and its aftermath, firsthand. As it turned out, only one showed up; the other two were sick and very old. I was able to listen to Norman Grant, Jr., MD, who was a senior medical student at Methodist Hospital in Dallas at the time of the assassination. He participated in the retrieval of a bullet from the body of Officer J.D. Tippit while other doctors he knew treated both President Ken...
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By Frank Worrell, Turning BPOs Into Six-Figure Incomes
(BPOS FOR LIFE LLC)
IntroductionBroker Price Opinions (BPOs) are an essential part of the real estate industry, providing valuable property valuations for a variety of transactions. But what does a day in the life of a BPO agent look like? In this post, we'll walk you through a typical day, highlighting the skills and tools that make a BPO agent successful—all in just five hours a day.Morning Routine: Setting the Stage 8:00 AM: Start the day by checking emails and prioritizing tasks. 8:30 AM: Review property listings and schedule site visits. On the Field: Gathering and Uploading Data 9:00 AM: Head out for site visits, taking photographs and noting property conditions. 9:30 AM: Upload photos directly from the field, ensuring real-time data accuracy. Late Morning: Initial Analysis 10:00 AM: Begin initial pr...
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By Frank Worrell, Turning BPOs Into Six-Figure Incomes
(BPOS FOR LIFE LLC)
 IntroductionIn a rapidly evolving industry like real estate, the key to long-term success is continuous learning and adaptation. With over 30 years in the field and a focus on Broker Price Opinions (BPOs), I've found that the willingness to learn and adapt has been crucial. In this post, I'll share why continuous education is vital and how it has shaped my career.The Evolution of BPOsWhen I started specializing in BPOs, the landscape was vastly different. Technology has revolutionized how we conduct property valuations, making the process more efficient and accurate. Being open to learning new tools and methods has been a cornerstone of my success.The Educator's PerspectiveIn addition to my work in BPOs, I also teach prelicensing classes each month for the Moseley School of Real Estate...
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By Bill Salvatore - East Valley, Realtor - 602-999-0952 / em: golfArizona@cox.net
(Arizona Elite Properties )
Introduction The Broker Price Opinion (BPO) landscape is evolving, and so are the opportunities for earnings. While traditional methods have their merits, there's a new approach that's worth your attention. Read on to discover a different path that could significantly enhance your annual income.   The Traditional Route The conventional BPO process involves time and effort, leading to standard earnings. While this approach has its benefits, it may not be the most efficient way to maximize your income. A Different Path We offer an alternative that requires minimal involvement on your part but could lead to enhanced earnings. While we won't delve into the specifics here, we can say that this approach has the potential to bring in an extra $50,000 per year. Why Consider a New Approach? Eff...
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By Daniel Ramsey, MyOutDesk - Real Estate Virtual Professionals
(MyOutDesk)
Yes, your reputation matters... a lot!Let me discuss the crucial role of social capital in business growth and trust — the reputation and name recognition that you as an individual or your business as a whole have within your community.Social capital is measured by one's ability to honor their word, engage in ethical business practices, and make positive contributions to society. It opens doors and helps build a strong brand.What people say about you when you're not in the room reflects a majority of your social capital. I encourage you to value and effectively manage it as it can greatly impact you and your business' success.If you like my content, please LIKE, SHARE, and SUBSCRIBE.
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By Frank Worrell, Turning BPOs Into Six-Figure Incomes
(BPOS FOR LIFE LLC)
IntroductionThe Broker Price Opinion (BPO) landscape is evolving, and so are the opportunities for earnings. While traditional methods have their merits, there's a new approach that's worth your attention. Read on to discover a different path that could significantly enhance your annual income. The Traditional RouteThe conventional BPO process involves time and effort, leading to standard earnings. While this approach has its benefits, it may not be the most efficient way to maximize your income.A Different PathWe offer an alternative that requires minimal involvement on your part but could lead to enhanced earnings. While we won't delve into the specifics here, we can say that this approach has the potential to bring in an extra $50,000 per year.Why Consider a New Approach? Efficiency:...
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By Frank Worrell, Turning BPOs Into Six-Figure Incomes
(BPOS FOR LIFE LLC)
View the Efficiency and Earnings in BPOs: Path to $100K+ Flowchart IntroductionImagine waking up one day to find an extra $100,000 in your bank account every year. Sounds like a dream, doesn't it? But what if we told you that this dream could be your reality? In this post, we'll let our imaginations run wild and explore the incredible opportunities that an extra $100,000 per year could unlock for you.Travel the World in StyleEver wanted to sip champagne in a first-class flight to Paris or lounge on the beaches of Bali? With an extra $100,000, you could travel the world in style, staying in five-star hotels and dining at Michelin-starred restaurants. The world would truly be your oyster.Invest in Your Dream HomeSay goodbye to cramped apartments and hello to your dream home. Whether it's ...
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By David Ramirez, Tax Representation at its Best
(Tax Relief Services)
Are you a Real Estate Owner or Real Estate Investor?You Need to Know and Understanding Cost Segregation and How it Benefits Real Estate InvestorsOwning 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 there’s a way for you to reduce your tax burdens and save substantial amounts of cash along the way? That’s where cost segregation comes in. This process of identifying the components of a real estate property and depreciating them accordingly can benefit real estate investors and owners in a myriad of ways. In this blog post, we’ll discuss how cost segregation works and how it can benefit you.What is cost segregation?Cost segregation wherein components of a real estate property are ident...
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices California Properties)
Time Flies!  It is hard for me to imagine that Berkshire Hathaway HomeServices ("BHHS" f/k/a Prudential) is 10 years old! But indeed, it is! The Brokerages' first office was the Beverly Hills Office. I clearly remember the issues with the Prudential Licensing Name and the BHHS powers to be decided why bother negotiating with what could turn out to be a costly endeavor just to keep the Prudential name? Why not switch to a better, more widely recognized name since Home Services of America is a Berkshire Hathaway Company. At the time, leadership made the decision to assume all costs involved with switching the name on letterhead, business cards, signage, you name it. The magic transition date was September, 23, 2013. Certainly not an easy task, but the support was truly amazing.  The rest ...
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By Will Hamm, "Where There's a Will, There's a Way!"
(Hamm Homes)
Lets not forget what we can learn from Lou Ludwig Your Attitude Will Light Your Way “A Positive attitude will light your way on your success journey and bring new opportunities within your focus to see. A negative attitude will cloud your future and obscure the opportunities.” Lou Ludwig, Sales and Management Consultant, Success Coach, Speaker, Trainer and Author   As I see it. . . . . . . . Your attitude will light your way   Keep your attitude positive . . . . and you will find your way.   You can choose to live in the darkness of life . . . . and complain about the circumstances. . . . . Or you can create your own light with a positive attitude.   No matter how dark it appears . . . . There’s a switch on your attitude that will turn on the lights. It’s your responsibility to find tha...
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By Doug Rogers, Your Real Estate Resource!
(RE/MAX Coastal Properties )
Destin Florida Real Estate-Prepping Your Home For MarketReady to cash in on your home equity? Or perhaps the next chapter of your life story takes place away from the Emerald Coast? Either way, having your Destin home in top shape is key to earning every dollar possible. Advice For Getting Your Destin Home Show Ready1) Declutter-- It's amazing how many "things" we collect over the years. And those souvenirs from your Rocky Mountain vacation can make it hard for Destin home buyers to visualize THEIR souvenirs in your space. 2) Does your home pass the smell test-- Not everyone likes the smell of Olds Spice and fine Corinthian Leather. Do the best you can to REMOVE odors, not simply mask them. And smoking? Don't do that anywhere near the home! 3) Fix what is broken, replace what is missing...
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By Pat Starnes-Front Gate Realty, 601-991-2900 Office; 601-278-4513 Cell
(Front Gate Real Estate)
It doesn't take much to make a good first impression, right? A little effort can go a long way, regardless of the situation. Today my buyer client saw her new home "in person" for the very first time.  We went under contract about five weeks ago. Since the purchaser lived several states away, we did a video conference during my initial showing appointment.The house was stunning. It was obvious the seller took excellent care of this home, and it had a warm, happy feel.Although the home had multiple offers, we were the successful bidders and went under contract.The buyer was naturally nervous to buy a home sight unseen, but when we walked through the front door of her new home today, all fears dissipated. The first thing I noticed was a pleasant clean scent. The hardwood floors were gleam...
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By Catherine Emert, Residential, land, commercial, businesses
(Strategic Realty, LLC)
IntroductionDeciding to sell your property is no small undertaking. In an increasingly competitive real estate market, your property needs to capture attention swiftly and definitively. Aerial photography, facilitated by drone technology, provides an unparalleled ‘wow’ factor. According to the National Association of Realtors, properties showcased with aerial imagery are 68% more likely to sell. However, employing drones for real estate marketing comes with its own set of legal and ethical responsibilities. In this article, we explore the critical importance of hiring a licensed drone operator when selling your property. Legal Implications: FAA RegulationsThe Federal Aviation Administration (FAA) has stipulated that unlicensed drone operators can face penalties starting at $1,100 per vi...
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By Peter Mohylsky, Beach Expert, Call me at 850-517-7098
(PMI. Destin)
Make sure your home is giving off spooky vibes from decorations and not from being unkept.  I am not saying we need to back away the swim suite yet.  butIt might be time to build that list of stuff that the summer temps dissuaded you from accomplishing. Follow these fall maintenance tips to keep your home looking and running great.   This is just a short list of stuff but it is always a good thing to build a list.  In other words, remove those spider webs and then hang fake ones!😂#thehelpfulagent #home #houseexpert #house #listreports #homeowner #realestate #realtor #realestate #hometips #themoreyouknow
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By Patricia Feager, MBA, CRS, GRI,MRP, Selling Homes Changing Lives
(DFW FINE PROPERTIES)
Navigating from contract to close to achieve homeownership is like steering a boat. The process of reaching your goal needs discipline, determination, and diligence without getting off course by being distracted by outside influence. The process involves: Professional guidance Creative thinking Problem-Solving Careful listening Reading the contract No matter where you buy, what size you buy, how many articles there are on the topic of buying a home, it takes discipline to help guide you to your destiny. Part 1Identify a REALTOR® who is highly qualified and has experience and credibility. The same is true if you need a mortgage lender. No matter what others say, there are no two transactions alike. When it comes to navigating from contract to close, stay out of deep water and avoid capsi...
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By Wanda Kubat-Nerdin - Wanda Can!, St. George Utah Area Residential Sales Agent
(Red Rock Real Estate (435) 632-9374)
Awakening a Resilient Mindset Azure skies abound. Clouds amass. Sun rays defend sudden, unforeseen turbulence. An all-encompassing storm swiftly takes a hard hold without invite, grasping, slashing, leaving in its wake, confusion, mayhem. Experiencing disappointment often presents an opportunity to grow, through adversarial situations, awakening a resilient mindset. Sincere intentions still reside in the outcome, fully aware that the future may hold promise. The nature of the real estate industry can be chaotic at best, emotions getting in the way of buyers and sellers when the desired result becomes unattainable. Time is necessary in creating a new path, for a new plan. Gaze upon the horizon. Here comes another 'un!
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By Bob "RealMan" Timm, Owner of Ward Co Notary Services retired RE Broker
(Ward County Notary Services)
No one likes to be startled yet people always seem to think it's funny. I am married to someone who startles very easy and I've learned to be very gentle in approaching her when entering the same room.Of course we need to be careful not to startle people in the Real Estate business or they may just flip over to another agent.There are a lot of things that can startle a Real Estate Buyer and a few that can startle a Seller. A Buyer can be startled at any time and sometimes it can result in:In doing my research for this post I came across a good article by AR contributor Michelle Gibson titled Why Do Homes Come "Back On Market" which I've linked here.As far as Home Sellers getting "spooked" I found this article titledScared of Selling Your Home? Common Fears Home Sellers Have.Click on the...
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By Bill Salvatore - East Valley, Realtor - 602-999-0952 / em: golfArizona@cox.net
(Arizona Elite Properties )
KISS my WHAT?!   Believe it or not, the concept of KISS (Keep It Simple Stupid) was coined by the U.S. Navy as part of their systems goals. In design school, the same phrase became a desired result to be gained by avoiding the overly-complicated.   My professor told me that people in business prefer an informed, straight forward approach, rather than sugar-coating or beating around the bush to prove a point. That advice stuck and determines how I continue to practice.   "So the writer who breeds more words than he needs, is making a chore for the reader who reads." ~Dr. Suess   From the time, I get the call for real estate guidance, everything becomes set in motion. Diligently working behind the scenes, to gather all necessary information that becomes an integral part of the real estat...
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