• NRBA Conference
  • BDS – 3rd Week July Tentative
  • Social Media
  • Delinquency Numbers
  • First Time Homebuyers
  • New Term: Accidental Landlord
  • Short Sales
  • Linked In
  • Guest Co Host – NRBA Director Cliff Ponte
  • Private Credit Equity
  • Posting-Linked In & Facebook
  • Q&A

 

 

Password this week is: R3cordH33t**

Please do not share this outside the membership

Click Here for the video

Quick recap
The NRBA Video News meeting focused on upcoming conference preparations and social media strategies for members. Michael announced that the Green Valley Ranch Hotel was sold out for the upcoming conference, with more clients requesting attendance than expected, and suggested members consider staying at the nearby Aloft hotel. He emphasized the importance of increased social media presence, particularly on LinkedIn, sharing content about real estate market trends and short sales, and provided instructions for creating AI-generated posts and graphics using ChatGPT. Cliff discussed client relationship management, noting that asset managers are becoming busier and may reassign properties more frequently, advising agents to be proactive in title clearance and market knowledge. The meeting also covered updates on the Certified Short Sale Expert (CSSE) program, with new features being added to Equator profiles, and Michael shared analytics showing strong engagement on his social media posts, encouraging all members to increase their online visibility.
Summary
NRBA Conference Planning Updates
The meeting covered several key topics related to the upcoming NRBA conference. Michael announced that the Green Valley Ranch Hotel is sold out, and they are considering booking additional rooms at the Aloft hotel nearby. He also confirmed that Mark Sterbcow, a top attorney for CFPB and industry regulations, will be attending the conference. Michael emphasized the importance of promoting NRBA’s social media presence and encouraged attendees to share and endorse each other’s content on LinkedIn. He also discussed the current state of the housing market, highlighting the increasing number of seriously underwater homes and the slow burn distress cycle. Michael announced that he will be a regular contributor to a magazine, publishing articles at least once a month.
Thought Leadership and Market Trends
Michael discussed the importance of establishing thought leadership through content creation and social media engagement, emphasizing the need to add personal insights to shared posts to enhance credibility. He highlighted the decline in first-time homebuyers, which has reduced their market share from 40% to around 20%, and explained how this shift impacts the property ladder, potentially leading to a decrease in transaction counts. Michael advised adjusting expectations for first-look properties and encouraged members to leverage their expertise in the current market, particularly in REO and short sales, while avoiding political discussions on social media to maintain client relationships.
Accidental Landlords and Real Estate Trends
Michael discussed the rise of accidental landlords, particularly in Las Vegas, where 3.7% of housing is being rented by people who cannot sell their homes. He also highlighted the increasing number of short sales being negotiated on the Equator platform, emphasizing the importance of the CSSE designation for members. Michael announced a discount for CSSE members to upgrade to Equator Elite, but advised NRBA members to wait for an even better discount to be announced at the conference. Finally, he shared insights on LinkedIn advertising strategies and the best times to post content for maximum engagement.
LinkedIn Strategy and Client Communication
Michael shared his LinkedIn analytics, showing significant impressions and engagement on recent posts, and discussed strategies for optimizing content. Cliff Ponte, speaking from a conference, emphasized the importance of not bothering clients with unnecessary calls or interruptions, as many clients are busy with their own tasks and may not have the time or patience for detailed discussions. He advised agents to communicate effectively and efficiently, focusing on task-oriented interactions and avoiding escalations unless absolutely necessary.
Client Task Completion Strategies
Cliff Ponte discussed the importance of being productive and ensuring tasks are completed well, emphasizing the need to focus on title work with clients. He advised following up on deeds promptly and staying ahead of the process to demonstrate attention to detail. Cliff Ponte also highlighted the potential for increased workload from clients and the importance of understanding local markets. He shared a personal experience of recovering unreceived reimbursement checks and encouraged others to check similar state-based systems for any outstanding payments.
BPOs and Property Valuation Discussion
The team discussed BPOs and property valuations, with Michael emphasizing the importance of noting the decline in first-time homebuyers and explaining valuation decisions thoroughly. Cliff Ponte shared insights on repair metrics and asset manager decisions, while Jaysen highlighted the need to understand the underlying reasons for property reassignments. The conversation ended with Michael introducing a new topic on the private credit equity market and its relevance to real estate investments, as well as encouraging the team to focus on short sales and establish themselves as thought leaders through social media and advertising.
AI-Enhanced Social Media Strategy
Michael shared insights on creating effective social media content using AI tools like ChatGPT and Canva, emphasizing the importance of branding and engagement. He provided instructions and templates for members to create professional posts and graphics quickly, encouraging them to spend 10 minutes daily on social media activities. Michael also discussed upcoming changes to the CSSE certification and its integration with platforms like REO Network, highlighting its growing importance in the industry. Additionally, he addressed logistical concerns about hotel accommodations for an upcoming event and reminded members to provide reviews for the CSSE page.