How to keep your mojo up in a down market

Negative news and tough markets can take a toll on your business and your attitude. Here's how to keep yourself focused on the positive.

A Roundup of Myrtle Beach’s Highest Rated Agents

This week our “top agents” journey takes us to Myrtle Beach, South Carolina, in search of the superstars of real estate marketing. Over the past few months, we’ve been experimenting with better methods for finding and evaluating real estate professionals. We’ve met with some success but a lot more complications. 

For larger markets, keying on reviews at Google and Zillow proved effective. However, less “mature” markets require a lot more effort (drill down) in order to differentiate. And Myrtle Beach proved to be a prime example. There may be no foolproof method for discovering the best of the best online! Maybe all we can do is suggest “best practices” for certifying the top agents in America and the world. 

Scott Trembley – Oak & Ocean

Scott Trembley seems to have the highest and most highly positive Google and Zillow reviews among agents in this region. I use the term “seems” since it’s becoming increasingly difficult to filter agents in smaller niche markets in this way. Trembley’s Keller Williams Oak & Ocean Group has an overall 4.9 rating on 400+ reviews on Google and a perfect score on Zillow with 972 reviews. In fact, I filtered Trembley from among his competitors by reversing my procedure and searching Zillow first. 

Being the top dog in Myrtle Beach, you’d expect Trembley to have a stunning website with highly visible social media buttons that connect his agency’s extensions. But, you’d be disappointed as I was when you click the little buttons, and you’re taken to accounts that are now gone. Oops! The only one that seems to work is the Youtube link, which goes to one video with 8 views. So much for digital sales and marketing genius. Trembley is not vested in local media outreach either, so I guess we’re seeing a traditional brick-and-mortar operation. The point is, we’re left guessing. A final plus for Trembley is the fact his website ranked 83/100 for SEO. 

Radha Herring – Myrtle Beach Area Real Estate Professional – Facebook

Another agent who was a bit tough to isolate from the crowd in Myrtle Beach, Radha Herring, actually has a killer digital presence and perfect reviews at Google and Zillow. With 97 sales in the last 12 months, she’s racking up the commissions for herself and Watermark Real Estate Group. She’s also a Zillow Premier Agent, which means she understands the value of ads and branding too. And then there’s the downside. The Watermark website is a catastrophe in which somebody managed a 67/100 SEO score. I won’t delve into how jacked up the site is. 

Radha Herring

Greg Sisson
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Win your next open house with these smart lead capture apps

Now that things are stabilizing, at least in terms of competition, agents will need to do more to market their in-person open house and ensure those who show up are made part of their CRM. Inman's tech expert Craig Rowe shares some of the best lead capture apps and tells you how to put them to work for your business.

Additional Costs to Climbing the Property Ladder

When you get on the first wrung of the property ladder, it’s definitely an accomplishment. It’s one of the key stages of your life, buying your first property – whether that’s a house, apartment, or even a holiday home. It’s also a massive financial investment and there are costs associated with it. 

Some of the additional costs that come with buying a home are relatively unknown. This can come as a shock when all of a sudden, you’ve got to pay for things you didn’t know you had to. Here are a few of those potential additional costs:

Home Inspection Fee

This is a fee that is paid to a professional home inspector. They will come and inspect the property to make sure that it is in good condition and that there are no major problems. This fee can range from a few hundred dollars to a few thousand, depending on the size and condition of the property.

Many people will try to avoid getting a home inspection in order to save money. However, this could end up costing you more money in the long run if there are major problems with the property that are not discovered until after you have bought it.

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WATCH: Getting real about using Instagram Reels with mother and son duo at ICLV

Learn how to use Instagram Reels to not only grow your business, but earn money too with mother-son duo Markli Lemons-Ryhal of ReMarkiTable, LLC and Skyler M. Lemons of EXIT Strategy Realty.

Home sales projected to fall 16.2%, Fannie Mae says in new forecast

In projections released Monday, economists expect 5.78 million homes to change hands this year, representing a 16.2 percent decline from a year ago — a steeper drop than the 15.6 percent pullback forecast in July.

2 Compass execs sell $1M worth of Class A shares

Joseph Sirosh and Danielle Wilkie sold their shares last week, according to a Securities and Exchange Commission filing. Both executives scheduled the sell-offs in May.

LED strip lights add extra charm to your decoration

If you are always on the lookout for modern décor trends, you might be familiar with LED strips. These decorative items contribute to brightening up surroundings and giving them a modern touch.

LED strip lights suit both indoor and outdoor environments and are very versatile. However, you need to know how to choose the right light and how to apply it wisely to achieve the best decoration result with a more refined touch.

Where can I use LED strip lights?

According to the most modern decoration trends, you can use lights and colors in any room in the house. In this case, using LED strips on stairs, handrails, skirting boards, and furniture can be an excellent alternative to make the environment more pleasant and illuminated. 

Strip lights are long tapes with various lights, which can be white or colored. Some types come with an adhesive strip on the back, making it easier to install. 

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Zillow unveils tool it says could save renters thousands

Another new feature allows renters to track applications, communicate with property managers and manage payments through Zillow.

Tiny home startup looks to disrupt by building with recycled plastic

Azure Printed Homes uses recycled plastic as its building material. The company said its goal is to develop homes faster, more economically and with much less of an environmental impact.

Is it too late? 7 red flags your agent is about to jump ship

As independent contractors, agents can hang their licenses wherever they want. As brokers, it’s incumbent on us to create a beneficial environment for agents to flourish.

Following 6-month slowdown, the home-sale boom may finally be over

Home sales were down 19 percent year over year in July, a sign the pandemic-era boom in housing demand may be in the rearview mirror, according to new data released Monday by Redfin.

How to Find the Best Home Financing

The average home buyer in the U.S. needs about $250,000. If you’re like the majority of potential homebuyers, you don’t have this kind of money. Even if you do, you’re not going to spend it all on a house. Your decision to take out a mortgage is undoubtedly motivated by this reason. A mortgage is a big financial commitment, but it’s also sound. Long-term, buying a home is more cost-effective than renting.

The process of getting a home loan is similar to getting any other type of loan. When it comes to mortgage rates, you want to ensure you’re getting the best deal possible. Let’s take a closer look at a few things that you can do to help you choose from various home loans that are the best match for your needs.

Check Your Credit

Mortgages are heavily influenced by your credit score. This can result in a change in interest rates or even the denial of your mortgage application. Check your credit before starting the mortgage process. In the future, you may be able to save a great deal of time by knowing your credit information.

Knowing your credit score makes it easy to determine whether you qualify for a particular mortgage. A mortgage lender may not consider your application if you have a credit score of 650 and it requires a credit score of 700. Focus instead on improving your credit so you can qualify. 

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How Do I Cancel a Home Purchase Offer? Cold Feet

Ask Brian is a weekly column by Real Estate Expert Brian Kline. If you have questions on real estate investing, DIY, home buying/selling, or other housing inquiries please email your questions to askbrian@realtybiznews.com.

Question from Gianna in MI: Hi Brian, After two years of dreaming about buying my first home, I have cold feet now that my offer has been accepted. It seemed like it was too good to be true. I’ve made four other offers over the past year, and this is the first that was accepted. Not only was it accepted, but I made the offer in the morning, and it was accepted the same afternoon. It’s obvious to me that the seller is desperate. That’s probably why the price was a little below the market average. Yeah, I’ve been studying the market for a while and knew what houses were selling for. In my eagerness to buy my first home, I made a full-price offer with the only continency being that my mortgage was approved. I didn’t even include an inspection contingency. Now I have buyer’s regret. In a few short weeks, the market has gotten much softer in this neighborhood and I’m not even sure the house will appraise for my purchase offer. I’m thinking this could be my way to get out of the purchase agreement so that I can wait a few more months until prices come down further. What do you think?

Answer: Hello Gianna. Your question is very timely as the residential market is transitioning away from being a seller’s market to being a more balanced market. While it is not yet a buyer’s market, buyers are in a much better place than they were a few short months ago. I’m almost certain that your biggest concern is about what will happen with your earnest money if you back out of the deal. It does sound like the appraisal is key to answering that question. Let’s look at what is probably going on here.

As the buyer, you submit an earnest money deposit when you make an offer on a home. The deposit is credited toward your down payment or returned to you if the real estate contract is legitimately canceled. If you want to get out of a real estate contract without meeting the terms, you risk losing your earnest money. Getting out of the signed contract and having your earnest money returned to you is typically only possible if the contingencies are not met. I’ll get into some common contingencies in a moment. Gianna, if I understand you correctly, the only contingency that you have is your loan approval which is based on the appraisal. I think that is a mistake in this evolving market. But if that is where you are at and you really don’t want to buy the home, there are only two suggestions that I have for you. First, if the market in your area really is slumping, postpone the appraisal for as long as you can. The more prices slump, the more likely the house will not appraise for the amount of your purchase offer. However, you said the house was listed slightly below market value. That could mean that prices will have to fall quite a way before the house appraises below your purchase offer. My only other suggestion is that you have a real estate attorney go over your purchase offer with a fine-tooth comb looking for other possible loopholes. With that said, here are a few other thoughts for people navigating today’s evolving real estate market.

The best time to think about canceling a purchase agreement is when you sign an agreement. Before you sign legal documents such as these, ask how you can cancel if things don’t work out the way you hope, or if you change your mind. If you can’t find a satisfactory answer, or you can’t figure it out yourself by reading the cancellation clauses, then don’t sign until you have a lawyer review it and advise you. Here is part of what you should know about canceling purchase agreements.

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$1.5 Million Homes in California

An Arts-and-Crafts bungalow in Pasadena, a 1978 ranch house in Solvang and a 1903 Edwardian home in Berkeley.

Shopping for Settees

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WATCH: ICLV panel members roleplay tough commission conversations

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The real reason so many new agents quit in 5 years

Real estate is not for the faint of heart, according to Bret Weinstein. Too many new agents never get a fair shot at showing what they can do given competent leadership and mentoring.

4 ways to drive people to your website

Have you spent the time and money to get your business’ website off the ground but your analytics still look a little lackluster? Don’t feel discouraged!

Social app for real estate unites new technology and old-school service

Why shouldn’t real estate have its own social media platform that brings together a global community of agents, buyers and sellers? We do now.

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