Underinsured Motorist Coverage: How Much and Do You Need it?

  • Car Insurance

Most states have minimum requirements for liability coverage. Often set at $25,000 per person and $50,000 per accident, this type of insurance covers you when you are at-fault in an accident and cause damage to the driver and their property.

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If the other driver is at fault, their liability insurance will cover you. Tit-for-tat, all is well. But what happens if you’re hit by a driver who doesn’t have enough insurance to cover the costs of your medical expenses and property damage?

That’s where underinsured motorist coverage comes in. Often bundled with uninsured motorist coverage and required in a handful of states, this insurance provides some cover against the growing number of uninsured and underinsured drivers on US roads.

How Common are Uninsured and Underinsured Drivers?

It has been estimated that there are between 1 in 7 and 1 in 8 uninsured drivers on American roads. This is a huge number when compared to many other developed nations, and it’s even bigger in states like Florida, where an estimated 25% of drivers don’t have adequate car insurance.

If you’re involved in a car accident that is not your fault, and the other driver doesn’t have adequate cover, you could be left to foot the bill. If you have uninsured/underinsured motorist cover, however, it will step in and assume the role typically played by property damage liability and bodily injury liability insurance.

You choose the type that you buy and the extent of the limits. In that sense, it also works just like the aforementioned liability insurance.

There are two types of cover:

  • Underinsured/Uninsured Motorist Bodily Injury Coverage: Also known as UMBI, this is provided on a per person and per accident basis, much like bodily injury liability insurance.
  • Underinsured/Uninsured Motorist Property Damage Coverage: Also known as UMPD, this is offered on a per accident basis.

Uninsured/Underinsured Motorist Coverage

You can add underinsured/uninsured driver cover to your insurance policy in most states. It’s optional, along with coverage options like collision coverage, comprehensive coverage, and medical payments.

In some states, however, it’s mandatory, and you will be considered underinsured yourself if you don’t have all the necessary cover.

  • Connecticut: $20,000 Per Person; $40,000 Per Accident. Both underinsured and uninsured.
  • D.C: $25,000 Per Person; $50,000 Per Accident. Only uninsured coverage required.
  • Illinois: $20,000 Per Person; $40,000 Per Accident. Only uninsured coverage required.
  • Kansas: $25,000 Per Person; $50,000 Per Accident. Both underinsured and uninsured.
  • Maine: $50,000 Per Person; $100,000 Per Accident. Both underinsured and uninsured.
  • Maryland: $30,000 Per Person; $60,000 Per Accident. Both underinsured and uninsured.
  • Massachusetts: $20,000 Per Person; $40,000 Per Accident. Only uninsured coverage required.
  • Minnesota: $25,000 Per Person; $50,000 Per Accident. Both underinsured and uninsured.
  • Missouri: $25,000 Per Person; $50,000 Per Accident. Only uninsured coverage required.
  • Nebraska: $25,000 Per Person; $50,000 Per Accident. Both underinsured and uninsured.
  • New Hampshire: $25,000 Per Person; $50,000 Per Accident. Both underinsured and uninsured.
  • New Jersey: $15,000 Per Person; $30,000 Per Accident. Both underinsured and uninsured.
  • New York: $25,000 Per Person; $50,000 Per Accident. Both underinsured and uninsured.
  • North Carolina: $30,000 Per Person; $60,000 Per Accident. Both underinsured and uninsured.
  • North Dakota: $25,000 Per Person; $50,000 Per Accident. Both underinsured and uninsured.
  • Oregon: $25,000 Per Person; $50,000 Per Accident. Both underinsured and uninsured.
  • South Carolina: $25,000 Per Person; $50,000 Per Accident. Only uninsured coverage required.
  • South Dakota: $25,000 Per Person; $50,000 Per Accident. Both underinsured and uninsured.
  • Vermont: $50,000 Per Person; $100,000 Per Accident. Both underinsured and uninsured.
  • Virginia: $25,000 Per Person; $50,000 Per Accident. Both underinsured and uninsured.
  • West Virginia: $20,000 Per Person; $40,000 Per Accident. Only uninsured coverage required.
  • Wisconsin: $25,000 Per Person; $50,000 Per Accident. Only uninsured coverage required.

How Much is Underinsured and Uninsured Motorist Insurance?

As with all other types of coverage, the amount you pay for underinsured/uninsured motorist insurance varies by state, driver, and insurance company. Generally, it costs around half of what you pay for liability insurance, assuming you pay for the same amount of cover.

The insurance company will consider what type of driver you are, how many claims you have had, and where you live. All of these factors will impact your rates.

You can bring the total price of your auto insurance policy down by trying the following:

  • Improve your credit score.
  • Pass a defensive driving course.
  • Achieve and maintain good grades.
  • Use multi-car or multi-policy discounts where possible.
  • Join membership clubs for discounts.
  • Make sure your car has anti-theft devices and safety features.
  • Pay for your premiums upfront.
  • Sign up for paperless and Auto-pay discounts.
  • Check low-mileage programs and good driver programs.
  • Maintain a safe driving record.

Bottom Line: Do You Need Underinsured Motorist Coverage?

If your state requires it, you don’t have a choice: you need uninsured/underinsured cover on your car insurance policy. But what happens if your state doesn’t require it, at what point should you start considering these insurance products?

  • Your State Has a Lot of Uninsured Drivers: The more of these drivers there are in your area, the greater your risk is and the more important UMBI and UMPD coverage options are.
  • You Have an Expensive Car: If you drive a luxury, high-price vehicle and your state has very low liability requirements, you should consider underinsured motorist coverage. Without it, you could be seriously out of pocket if you’re involved in an accident, even if the other driver was at fault.
  • You Want Extra Protection: With underinsured/uninsured motorist insurance, you will also be covered for a hit-and-run, even if you are a pedestrian. The extra cover provided by these options will ensure you’re prepared for more eventualities and give you some much-needed peace of mind at the same time.
  • Good Price: Last but not least, if this insurance coverage can benefit you in any way and you can get it for a good price, why not add it to your policy? It will seem like a genius move in the event of an accident with an uninsured/underinsured driver, making all those extra cents worthwhile.

Source: pocketyourdollars.com

Converting Hotels to Housing

The National Association of Realtors (NAR) has released new research on the conversion of hotels and motels into housing. While the study was spurred by a 37% drop in hotel occupancy rates driven by the pandemic, the findings have broader implications. Hotel conversions provide a means to simultaneously create renewed profitability and help address the national housing shortage.

Commercial members surveyed

A survey was sent to 75,000 commercial members of the NAR between February and March of 2021. 168 reported being engaged in the sale, leasing, development, property management or appraisal of converted hotels/motels between 2018 and 2020. Of the reported conversions:

  • 79% were for housing.
  • 12% were for homeless shelters, either temporary or permanent.
  • 6% were for healthcare or quarantine facilities.
  • 3% were for retail, industrial, ranch land or other development.

Success stories

The report ends with five case studies detailing acquisition, zoning, renovations and expected final property values. For those interested in engaging in hotel/motel conversions, they’ll find an excellent road map in this report.

Source: century21.com

The Worst Cities to Own a Car

The Worst Cities to Own a Car

The number of Americans driving to work alone is on the rise, according to data from the U.S. Census Bureau. With the increase in drivers comes traffic, which means more time and money spent idling in cars. Some cities are better equipped to deal with the mass of drivers, managing to keep traffic delays and congestion to a minimum. Other cities are equipped with walkable streets and reliable mass transit options, making car ownership less necessary.

Check out mortgage rates in your area.

We considered these and other factors to find the worst cities to own a car. Specifically, we looked at hours spent in traffic per year for the average driver, the annual cost of traffic for the average driver, the rate of motor vehicle theft, the number of repair shops and parking garages per driver, the commuter stress index and the non-driving options a resident has for getting around. To understand where we got our data and how we put it together to create our final ranking, see the data and methodology section below.

Key Findings

  • Cities on the coasts â€“ The entire top 10 is comprised of cities on or close to the coasts. This makes sense as many of the largest cities in the country are located on the coasts. Plus, on the East Coast in particular, these cities tend to be older which means they were not built to handle car traffic.
  • Grin and bear it – Traffic can get pretty bad. However, in some cities getting around by car is just about the only option you have if you want to leave your house. Thus some cities with really bad traffic like Los Angeles or Long Beach didn’t quite crack the top 10.

The Worst Cities to Own a Car

1. Newark, New Jersey

Brick City tops our ranking of the worst cities to own a car. What’s tough about being a car owner in Newark is the traffic. It’s part of the New York City metro area which has 19 million people, 5 million of whom drive to work. Newark is stuck right in the middle of this bumper-to-bumper traffic. Plus, if you’re a car owner in Newark, the risk of having your car stolen is much higher than it is in other cities. Newark ranks eighth in the country for motor vehicle thefts per 1,000 residents.

Related Article: The States With the Worst Drivers

2. San Francisco, California

The City in the Bay grabs the second spot for worst places to own a car. Being stuck in traffic costs the average commuter in San Francisco $1,600 per year. That cost includes both the value of the time spent in traffic and the cost of gas. SF is also one of the 10 worst cities for motor vehicle thefts per resident, another reason to forgo car ownership.

3. Washington, D.C.

The District and the surrounding metro area sees some of the worst traffic in the country. The average D.C. commuter spends 82 hours per year in traffic. Depending on how you slice it, that’s either two working weeks or almost three-and-a-half days of doing nothing but shaking your fist at your fellow drivers. That traffic is equal to an annual cost of $1,834 per commuter.

4. Oakland, California

One argument against car ownership in Oakland is the crime. There were almost 6,400 motor vehicle thefts in the city of Oakland or 15 auto thefts per 1,000 residents. That’s the highest rate in the country. The average Oakland driver can also expect to spend 78 hours per year in traffic. On the plus side, if something goes wrong with your wheels in Oakland, it shouldn’t be too difficult to get it fixed. There are more than six repair shops per 10,000 drivers in Oakland – the highest rate in the top 10.

5. Arlington, Virginia

As previously mentioned, the Washington, D.C. metro area has the worst traffic in the country. Unfortunately for the residents of Arlington, they are a part of that metro area. They face the same brutal 82 hours per year spent in traffic, on average. It costs Arlington residents $1,834 per year, on average, waiting in that traffic. For residents of Arlington, a car is more of a necessity than it is for people living in D.C., which is why it ranks lower in our study.

6. Portland, Oregon

Of all the cities in our top 10, Portland is the least onerous for the driving commuter. Commuters driving around the Portland metro area can be thankful that, on average, they spent only 52 hours per year in traffic. That traffic still costs each driver about $1,200. However, drivers in Portland looking for a parking garage may be out of luck. Portland has the second-lowest number of parking garages per driver in our study, and if you are looking to get your car fixed, Portland ranks in the bottom 13 for repair shops per capita.

7. Anaheim, California

Anaheim commuters are well-acquainted with traffic. Anaheim (and the rest of the Los Angeles metro area) ranks third in average hours per year spent in traffic, first for commuter stress index and fifth for annual cost of idling in traffic. Anaheim only ranks seventh because Walkability.com gives the city a 46 out of 100 for non-driving options. That’s the lowest score in our top 10 meaning, while owning a car here is a pain, not owning one makes getting around a true struggle.

8. New York, New York

New York is the rare American city where public transportation is usually your best bet for getting from point A to point B. All that accessibility makes car ownership unnecessary here. For New Yorkers who do drive, the traffic is not pleasant. New York drivers spend $1,700 per year, on average, waiting in traffic. That’s the third-highest cost in our study.

Not sure if you’re ready to buy in NYC? Check out our rent vs. buy calculator.

9. Seattle, Washington

Seattle has pretty bad traffic. Commuters here probably aren’t surprised to hear the average driver spends 63 hours per year in traffic. And coupled with the traffic is the high number of motor vehicle thefts. Seattle has the fourth-highest rate of motor vehicle thefts per 1,000 residents in the country.

10. Boston, Massachusetts

Boston ranked well in our study on the most livable cities in the U.S. partially based on how easy it is to get around without a car. After New York and San Francisco, Boston is the most walkable city in the country, making the cost of having a car one expense which Bostonians can possibly go without. Although occasionally maligned, the Massachusetts Bay Transit Authority is a great option for commuters who want to avoid the 64 hours per year Boston drivers spend in traffic.

The Worst Cities to Own a Car

Data and Methodology

In order to rank the worst cities to own a car, we looked at data on the 100 largest cities in the country. Specifically we looked at these seven factors:

  • Average total hours commuters spend in traffic per year. Data comes from the Texas A&M Transportation Institute 2014 Mobility Score Card.
  • Cost of time spent in traffic per person. This measures the value of extra travel time and the extra fuel consumed by vehicles in traffic. Travel time is calculated at a value of $17.67 per hour per person. Fuel cost per gallon is the average price for each state. Data comes from the Texas A&M Transportation Institute 2014 Mobility Score Card.
  • Commuter stress index. This metric is developed by the Texas A&M Transportation Institute 2014 Mobility Score Card. It measures the difference in travel time during peak congestion and during no congestion. A higher ratio equals a larger difference.
  • Non-driving options. This metric measures the necessity of owning a car in each city by considering the city’s walk score, bike score and transit score. We found the average of those three scores for each city. Higher scores mean residents are less reliant on cars. Data comes from Walkability.com.
  • Motor vehicle thefts per 1,000 residents. Data on population and motor vehicle thefts comes from the FBI’s 2015 Uniform Crime Reporting Program and from local police department and city websites. We used the most up to date data available for cities where 2015 data was not available.
  • Number of repair shops per 10,000 drivers. Data on drivers comes from Texas A&M Transportation Institute 2014 Mobility Score Card. Data on repair shops comes from the U.S. Census Bureau’s 2014 Business Patterns Survey.
  • Parking garages per 10,000 drivers. Data on drivers comes from Texas A&M Transportation Institute 2014 Mobility Score Card. Data on parking garages comes from the U.S. Census Bureau’s 2014 Business Patterns Survey.

We ranked each city across each factor, giving double weight to non-driving options and half weight to motor vehicle thefts per driver, repair shops per driver and parking garages per driver. All other factors received single weight. We then found the average ranking across each city. Finally we gave each city a score based on their average ranking. The city with the highest average received a score of 100 and the city with the lowest average received a score of 0.

Questions about our study? Contact us at press@smartasset.com.

Photo credit: Â©iStock.com/seb_ra

The post The Worst Cities to Own a Car appeared first on SmartAsset Blog.

Source: smartasset.com

How does a loan default affect my credit?

loan default

Nobody takes out a loan expecting to default on it. Despite their best intentions, people sometimes find themselves struggling to pay off their loans. These types of struggles happen for many reasons, including job loss, significant debt, or a medical or personal crisis.

Making late payments or having a loan fall into default can add pressure to other personal struggles. Before finding yourself in a desperate situation, understanding how a loan default can impact your credit is necessary to avoid negative consequences.

30 days late

Missing one payment can further lower your credit score. If you can pay the past due amount plus applicable late fees, you may be able to mitigate the damage to your credit, if you make all other payments as expected.

The trouble starts when you (1) miss a payment, (2) do not pay it at all, and (3) continue to miss subsequent payments. If those actions happen, the loan falls into default.

More than 30 days late

Payments that are more than 30 days past due can trigger increasingly serious consequences:

  • The loan default may appear on your credit reports. It will likely lower your credit score, which most creditors and lenders use to review credit applications.
  • You may receive phone calls and letters from creditors demanding payment.
  • If you still do not pay, the account could be sent to collections. The debt collector seeks payment from you, sometimes using aggressive measures.

Then, the collection account can remain on your credit report for up to seven years. This action can damage your creditworthiness for future loan or credit card applications. Also, it may be a deciding factor when obtaining basic necessities, such as utilities or a mobile phone.

Other ways a default can hurt you

Hurting your credit score is reason enough to avoid a loan default. Some of the other actions creditors can take to collect payment or claim collateral are also quite serious:

  • If you default on a car loan, the creditor can repossess your car.
  • If you default on a mortgage, you could be forced to foreclose on your home.
  • In some cases, you could be sued for payment and have a court judgment entered against you.
  • You could face bankruptcy.

Any of these additional consequences can plague your credit score for years and hinder your efforts to secure your financial future.

How to avoid a loan default

Your options to avoid a loan default depend upon the type of loan you have and the nature of your personal circumstances. For example:

  • For student loans, research deferment or forbearance options. Both options permit you to temporarily stop making payments or pay a lesser amount per month.
  • For a mortgage, ask the lender if a loan modification is available. Changing the loan from an adjustable rate to a fixed rate, or extend the life of the loan so your monthly payments are smaller.

Generally, you can avoid a loan default by exercising common sense: buy only what you need and can afford, keep a steady job that earns enough income to cover your expenses, and keep the rest of your debts low.

Clean up your credit

The hard reality is that defaulting on a loan is unpleasant. It can negatively affect your credit profile for years. Through patience and perseverance, you can repair the damage to your credit and improve your standing over time.

Consulting with a credit repair law firm can help you address these issues and get your credit back on track. At Lexington Law, we offer a free credit report summary and consultation. Call us today at 1-855-255-0139.

You can also carry on the conversation on our social media platforms. Like and follow us on Facebook and leave us a tweet on Twitter.

Source: lexingtonlaw.com

New Technology Promises to Revolutionize the Construction

There’s no question that technology is making an impact on the construction industry – even though construction is an industry that’s been historically slow to embrace innovation. The reluctance to change and evolve is due to fragmentation in the industry. With so many small firms specializing in different aspects of the construction process, it’s a challenge to adopt seamless processes and adapt to new technologies.

But recent advances that increase the efficiency, flexibility and adaptability of many emerging construction technologies are making them more cost-effective for firms to adopt. Just a few of the new technologies in use today include modular construction (using free-standing, integrated modules that are manufactured off-site and then transported to a site for installation), geospatial technologies (used to visualize, measure and analyze Earth’s features) and wearable technologies (such as head-mounted displays).

There’s more on the horizon. Some emerging technologies in the construction industry include mass timber (an engineered wood product), construction robotics (using robots to build) and autonomous construction vehicles (equipment operated by a computer).

To read a NAIOP report about new construction technologies, click here.

Source: century21.com

How to Attract Remote Workers to Your Apartment Community

Thanks to the pandemic, the number of employees who work from home swelled over the past year. Even though offices are beginning to open, with workers returning to the workplace, surveys show that many plan to telework at least part-time in the future.

Apartment owners and managers need to take notice of this trend. After all, at a time when unemployment remains high, remote workers are employed – and capable of paying their rent. They also represent a large pool of prospective tenants, so targeting them can turn into a competitive advantage.

Here are three things you can do to attract the work-from-home cohort:

  • Provide the tools teleworkers need. High-speed internet service and reliable cell phone reception are a must. The 2020 NMHC/Kingsley Apartment Resident Preferences Report found that 92% of tenants want high-speed internet access, while 91% said the community amenity they most desire is reliable cell phone reception. Tenants are even willing to pay higher rent for high-speed internet — $35.05 per month more, the survey found.
  • Tweak your marketing plan. Help the prospect envision working in your space. Stage model units (live or virtually) to include work spaces in bedrooms, or create zoom-worthy spaces on balconies or rooftops.
  • Don’t focus only on attracting new tenants; meet the needs of existing ones. Happy tenants are more likely to renew their leases, saving you the cost of turnover. They also can be a source of referrals. Convert business centers from open spaces to individual offices, and add programming designed to meet the needs of remote workers, such as a poolside yoga class to relieve stress or an online time-management workshop. People are craving human interaction these days, and programming can enhance a sense of community.

Source: century21.com

The Economic Impact of Commercial Real Estate

New commercial real estate development, and the ongoing operations of existing CRE buildings in the United States, had a vital impact on the U.S. economy in 2020, supporting 8 million jobs and contributing $1.01 trillion to U.S. GDP, according to a study released last month by the NAIOP Research Foundation.

The study broke out several key measures by sector – and demonstrate the impact of the pandemic:

  • Office construction expenditures totaled $38.8 billion in 2020, down 28.5% from 2019.
  • Retail construction totaled $11.7 billion in 2020, down 29.5% YOY. This was the fifth straight year of decline.
  • Warehouse construction outlays decreased slightly in 2020, down just 0.3% YOY.
  • Industrial (manufacturing) construction spending was hard hit, declining 29.5%.

The top five states in 2020, by development impact, were Texas, New York, Florida, California and Illinois.

This year, job growth is expected to improve, and GDP growth will make up some of what it lost in 2020. And NAIOP remains optimistic. “Many factors point to a commercial real estate rebound in 2021,” said Thomas J. Bisacquino, president and CEO. “We believe that while the pandemic has accelerated trends already progressing in real estate, we have a bright future.”

Source: century21.com

The Outpost Economy: A New Trend

The COVID-19 pandemic has resulted in many behavioral changes, not the least of which is the acceleration of the work-from-home trend. As the location of many workplaces remains flexible, there’s been a shift in the nature of work, its location and employment implications. Commercial real estate investment firm Graceada Partners has identified this trend and defined it, referring to it in a new report as the “outpost economy.”

The outpost economy is defined as the rise of a more dispersed economy and employment base away from major cities, to smaller cities with a high quality of life that draws workers who have become untethered from their offices in major cities. Clearly, this has implications for the real estate market – on both primary markets, as corporate headquarters become decentralized, and on secondary markets, as they evolve into “outpost economies.”

Takeaways from the Graceada report include:

  • Prior to COVID-19, many workers built their lives around the cities where they were employed. But, today, Millennials and younger workers are nesting, focusing on purchasing homes in smaller cities or suburbs and growing families there. The pandemic has enabled them to do this due to greater acceptance of remote working.
  • Still, the office is not dead. Many remote workers have already returned to the office, and offices are migration evolving as well. Employers may end up leasing smaller spaces in secondary markets to allow employees in those areas to work from those hubs.
  • Three outposts singled out in the report are Austin, Charlotte and Sacramento.
  • Despite the rise of many outposts, primary markets like New York and San Francisco have been economic hubs for major industries for many years and aren’t expected to go away overnight.

Source: century21.com

Attention to Every Detail

If you ask Relentless Agent Award Winner, Laura Ennis of CENTURY 21 AllPoints Realty in Enfield, CT, what makes her stand out from the crowd, she’ll tell you without hesitation, it’s all about the details. Known as, Laura “Overly-Involved” Ennis, Laura firmly believes in getting involved in every detail of the transaction to help transform her client’s process into an unforgettable experience.

I don’t think you’re successful by yourself. You have to have a team.

Laura Ennis

Part of what helps Laura give 121% to her clients and her community is that throughout her 25-year career, she’s managed to build key relationships. These relationships have given her the ability to become a top-tier problem solver in almost any situation, ensuring those that work with her, don’t have a thing to worry about during the home buying or selling process.

I can always fix every problem because I can call on somebody who will help me. Between my attorneys, my inspectors, contractors, plumbers, and electricians… I go the extra mile.

Laura Ennis

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There’s no doubt that Laura is passionate about serving her clients and her drive to continue elevating her service is undeniable. There is an additional key area where Laura also places her emphasis on and that’s communication. Laura believes that to be successful in this business, your communication skills must be top-notch. Making it a point to answer her phone every time a client calls, Laura also works overtime to ensure she can provide just the response her clients need to ease their minds and give them accurate information to answer their questions.

A firm believer in giving back in every way, Laura spends a great deal of her time volunteering in her community, as a member of the local Elks Club, to help raise awareness for Autism. She’s also very passionate about serving local veterans and seniors during the holiday season. Laura also helps to support Kyle’s Krusade, which is a local charity that provides support for families of those being treated at the Hartford Children’s Hospital Oncology Ward.

Laura truly leaves no stone unturned and makes each little detail her priority. In business, there can be an emphasis placed on the larger things but as we’ve seen with Laura, her quarter of a century career has been spent focusing and becoming involved in each seemingly small detail that leads up to an extraordinary home buying or selling experience.

Note: This material may contain suggestions and best practices that you may use at your discretion.  The views, information, or opinions expressed in any user-generated content are solely those of the individuals involved and do not necessarily represent those of Century 21 Real Estate LLC.

Source: century21.com

Crushing Your Sales Plateau

To be honest, like many others in this business I was never good at goal setting, but I am changing that. While I help clients and customers reach desired outcomes, I’ve experienced a plateau before and have been at the same amount of sales for many years. With encouragement from those around me, it was time to leverage goal setting and begin the process of having more conversations, selling myself to more people, with greater frequency, in order to get my sales to a higher level.

  1. Create a system to track and measure your efforts. The first thing I did was create a spreadsheet to manage and hold myself accountable for the number of conversations and touchpoints necessary to overcome the plateau. It’s keeping track of phone calls, community events, talking to people at local stores, and geotargeting a new neighborhood to become the local market expert for that area.
  2. Use your results to determine what technique works best for you. There are many sales techniques and many ways to generate business but, what I have found that works for me, is to first build a personal relationship, and then sell myself and my unique value proposition. I want clients to hire me because they want to, whether it takes one conversation, two conversations, five conversations, or meeting in person a few times. I think it makes the relationship smoother and stronger, and it makes the goal of getting them the outcomes they desire a lot more effective.
  3. Apply your technique and engage your sphere. Ultimately, it’s important for agents to find their own rhythm. Every person has something they’re good at, and they’re going to attract certain people and certain personalities. For me, most of my conversations are in real estate settings, like open houses or industry-related events. When I analyze and look at where my business is coming from, most of it is coming from the sphere that I built and manage. Not only that, I’m reaching them with weekly personalized emails, many times with video, about their local market. Obviously, we want to engage them, but the information must be relevant. Don’t bore them with the same old stuff. It’s difficult to find topics that people are or should be, interested in.
Crushing Your Sales Plateau image 1

Selling yourself as the local market expert to your sphere can be key. This can help you build the relationships your business needs to grow. In real estate, there will always be change, so staying ahead of it by knowing your market can be the value proposition you’re looking for. For me, it’s what helped me to get over my sales plateau to grow my business and take it to the next level.

Note: This material may contain suggestions and best practices that you may use at your discretion.  The views, information, or opinions expressed in any user-generated content are solely those of the individuals involved and do not necessarily represent those of Century 21 Real Estate LLC.

Source: century21.com