Real Estate Blog - Page 3 of 28

October 26, 2018 By Kim Hughes Leave a Comment

5 Bookkeeping Tips To Finish Out Your Year

The end of the year is quickly approaching and that means you are well into the 2018 tax year and should have completed your bookkeeping at least through the mid-year point. Or are you one of the many agents that scrambles each Spring or files for an extension because you didn’t take the time to work on your bookkeeping each month like you say you are going to do each year?

To maximize your deductions and minimize your stress, you MUST be proactive about your bookkeeping. If you are not keeping up with your bookkeeping on a regular basis, you need to make that a priority. Here are five reasons not to put off your bookkeeping until the end of the year.

The sooner you go through your expenses each month, the more likely you are to remember everything and accurately account for each expense. A year from now, you are unlikely to remember that you took a client to lunch on the 23^rd of March or sent a client flowers for the first anniversary of their home purchase but you are more likely to remember that when just a few weeks or days have passed. Make it a habit to sit down monthly as soon as your account statements are available and go through each item. Categorize every item to the appropriate expense category or mark it as personal so you don’t overlook anything. This will also allow you to catch any errors that might show up on your account.
Reviewing every expense each month will allow you to identify any areas that may be going over your budget so that you can address the issue before the end of the year. If you have a budget of $500 a year for Facebook advertising and you have surpassed that amount at the end of May, you will need to determine is that because you have made more money than you anticipated and therefore can spend more on that item or have you overspent and need to adjust other budget items to compensate for the Facebook advertising.
If you wait to review all of your expenses and income at the end of the year, you may not realize if your expenses and income are drastically different than what you anticipated. The reason this can be a problem is if you are not making as much money as you expected and are paying quarterly estimated taxes, you could be overpaying. Likewise, if you are making more money than you expected and haven’t adjusted your quarterly estimated tax payments, you could owe significant money come April 15^th.
Trying to work through your bookkeeping for an entire year at one time is a daunting task making you more likely to need to file an extension. Categorize your expenses each month so you are ahead of the game and be one of the first people to turn your expenses over to your accountant this year.
Rushing through your taxes to meet a deadline makes your more likely to make a mistake. Mistakes on your taxes can cost you thousands of dollars in penalties and interest. Don’t put yourself in this position by reviewing your expenses monthly to eliminate the tax time crunch.

If this is completely overwhelming to you, make this the year you get yourself on track. If after years of playing this game, you know you aren’t ever going to make the time to be proactive with your bookkeeping then take the next step and let Kim Hughes and Company help you with this. This doesn’t have to be a huge investment or new line item in your budget. Most bookkeeping accounts can be managed on a monthly basis for a little more than your monthly coffee budget or a couple dinners out. Are you willing to make that investment in your business?

Don’t forget to download your freebie – Bookkeeping Checklist

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We just launched the Real Estate Video Library. The library offers you some of the most popular video blogs and we are constantly adding more, so make sure to bookmark the page and visit often.

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The Ultimate Expired Listing System Webinar

Are you ready to get serious about working the Expired’s in your market? Are you ready to start building your inventory and put more money in the bank? I bet you are! I have been asked many of times to do a webinar for agents who struggle with the Expired Listing process, so coming in August I will be hosting a Workshop to take you through my Expired Listing System that has been a huge success for many top agents. If you would like to be the first notified just click on the link below and you will

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broker, team leader to implement into their daily lives as it will help you become more productive, find more time and be better organized. Get it today by visiting the 90 Day Real Estate Action Planner – use the COUPON CODE: PLAN18 to get your discount. This special code is for a limited time only, so take advantage of this discount today and get excited about your life becoming more organized and structured.

Are you realizing you need to tighten up your business strategies? Here at Kim Hughes & Company we are the experts when it comes to working real estate agents with start-ups, re-organizing, marketing, transaction management and so much more. Visit us at Kim Hughes and Company to download our free Real Estate Checklist. We will show you how to become a powerhouse agent so schedule a 20 minute complimentary call with Kim today and let’s get you organized and create some amazing strategies for your business.

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October 18, 2018 By Kim Hughes Leave a Comment

Get On Track To Accomplish Your Goals

It’s hard to believe the year is more than half over and fourth quarter is right around the corner. If you are like most people, you probably started the year off with some goals that you hoped to accomplish this year. Many of your goals were probably business related but you probably had some personal goals as well. Have you taken the time to think about your goals lately and evaluate where you are in reaching them?

When you set goals at the beginning of the year, did you put a plan in place to help you reach your goals or did you forget about them as soon as the year started? Reaching your goals won’t happen without a plan in place including specific tasks for you to accomplish.

Are You On Track To Meet Your Goals

For example, if your goal was to call all of your past clients this year, you would need to then determine who you plan to talk to when, how to keep up with who you have talked to and set aside time to make the phone calls. Those steps are critical if you want to reach your goal. Without those steps, you would have no idea who you have talked to and no way to know if you are on track or not.

With the end of the third quarter almost here, you should be 75% through most of your goals. If you aren’t, do you need to make adjustments to your goals or can you take the time to put the necessary steps in place so that you can achieve them? The steps to reach your goals are important but perhaps just as important is making the time to achieve them. Having a goal and knowing the right steps it will take to reach the goal are not enough. You must put in the necessary work so that the goals are attainable.

Let’s go back to our example with the phone calls to your past clients. Pull a list of your clients from your database and see how many you have left to call. Then determine how many you would need to call each week to make that happen. Once you know how many you need to call each week, set aside the necessary time on your calendar to make that happen. The key is planning the time and following through on it like any other appointment.

While the phone calls are a pretty simple example, your goals may have been way more involved than that and if you haven’t focused on them most of the year, they may be out of your reach. That’s ok too. Next year is coming but you don’t have to wait for next year. Set a SMART goal that you want to accomplish in the time that is remaining in 2018 and put steps in place to make that happen. Goals don’t have to start at the beginning of the year. You can set goals for a week, month, year or even more. The point is to set goals then put in the work to achieve them. You can do anything if you set your mind to it.

We just launched the Real Estate Video Library. The library offers you some of the most popular video blogs and we are constantly adding more, so make sure to bookmark the page and visit often.

COMING SOON!

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October 10, 2018 By Kim Hughes Leave a Comment

5 Tips To Organize Your Holiday Card Mailing with Freebie

Leaves are falling, pumpkins are everywhere and the days are getting shorter which surely means that fall is here. You probably feel like the holiday season is still a long way off, but it will be here before you know it. If you are planning to send out a Christmas or holiday card to you past clients, businesses, friends, family, neighbors, etc., you need to be thinking about that now. Depending on the kind of card you are sending and how many you plan to send, it may require a significant amount of time to get your cards ready to mail. Here are some great tips to help you get your card mailed by December 1.

5 Tips to Organize Your Holiday Card Mailing

Get Your FREEBIE ~ Holiday Card Checklist NOW!

First, select the kind of card you want to send. You have several options of where you purchase your cards. You need to decide where you will purchase them. Maybe at the local super store, order luxury personalized cards to have shipped to you, or will you use an online greeting card company to handle all the details? You can order a custom card from many websites such as Shutterfly, Wal-Mart or Snapfish that allows you to upload photos, add a personal greeting and will then print the cards for you to pick up in the store or mail them to you. Save a step by having them print your return address or even your mailing addresses if you upload the list to them. They will even complete the process for you by stuffing your cards, adding postage and mailing them. While this may mean your cards get out sooner, it does mean you won’t be able to add a personal greeting to the card so make sure you are comfortable with that trade off. If you want these extra steps done by the company, it will take additional time over just printing your card so make sure you factor that into your time frame so your cards arrive when you would like them to.

There are also options such as SendOutCards and Ink Cards, which will allow you to personalize each individual card. They offer great card options, very quick turnaround and highly customized options but it isn’t without any effort. Sending individually customized greeting cards to everyone on your list will require a larger amount of your time so you may decide you don’t have that amount of time to put into this.

Now that you know the different options and have hopefully decided the approach you want to take, follow these steps to get your card mailed out on time and without too much effort.

Decide what kind of card you want to send.
Put your list together with names and addresses.
Either purchase greeting cards or order your card online with your personal content.
Purchase stamps if you are mailing yourself.
Address the cards, stuff them and mail them.

While this task is broken down into just a few steps, some steps may take significant time if you aren’t organized. Locating pictures for your card, putting your address list together and even stuffing your cards if you are sending out a large quantity can take a lot of time. If you really want to send out cards but don’t have the time to invest in this task and get them sent out at the right time, we can help. From organizing your database to stuffing and stamping your cards and everything in between, we can handle as much or as little of the work as you need us to. We truly believe your holiday cards should personally represent you so we will work with you to identify the right kind of card that fits your style and your budget and execute all of the necessary steps so your cards are on time and memorable. Let us know if you would like to schedule a free consultation today.

Don’t forget…Get Your FREEBIE ~ Holiday Card Checklist NOW !

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Thanks for watching this weeks video and don’t forget to download your freebies.

If you enjoyed this blog, please SHARE IT, watch it on YouTube and let me know your thoughts, LIKE IT and don’t forget to SUBSCRIBE to my Channel.

One of my most popular blogs to date is What Does Your Voicemail and Texting Habits Say About You. Read it here

Here we are heading into the last quarter of 2018. This blog will help you get your finances in order. Check it out by clicking here.

You can read my other real estate business blogs and get free downloads by visiting https://www.kimhughes.com/resources/real-estate-blog/

We just launched the Real Estate Video Library. The library offers you some of the most popular video blogs and we are constantly adding more, so make sure to bookmark the page and visit often.

COMING SOON!

automatically go into my private list to receive the first announcement.

YES! I WANT TO BE THE FIRST TO KNOW – SIGN ME UP!

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Ready and motivated to organize your life? The 90 Day Real Estate Planner is a must for any agent,

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Image courtesy of Lee_Cannon/flickr.com

August 24, 2018 By Kim Hughes Leave a Comment

Are Your Buyers Prepared To Be A Homeowner?

Your phone rings and you hear those magic words…”I want to buy a house”. What is the first thing you think of when this happens? How much commission will you make or helping the buyer find the right home and build a solid relationship with your new client?

I hope you are saying the later because in this week’s blog we are talking about taking care of your buyer, the client.

Are Your Buyers Prepared to Be A Homeowner

The biggest part of creating your Client Connection is providing them with service they will appreciate for many years to come. Having clients that value the service you provide will put more dollars in your pocket over the life of your career through repeat business and referrals than if you rush them through their buying experience and don’t educate them fully on the process.

The first chance you have to provide clients with exemplary service is when they are buying their house. You are the expert on houses, and it is your job to educate your clients on what they can expect both during the sale and even more so after the sale. Buying a house is a big responsibility but taking care of your house while you own it is the biggest responsibility. A buyer needs to be educated on everything that comes with taking care of a house. It’s important to understand what you might encounter while you own your home, so you aren’t surprised by the things that come up later.

What can you do to educate a buyer to be a great homeowner?

Impress upon your buyers the extreme importance of home maintenance and the role it can play in the value of their home. It is essential they understand how critical it is to take good care of their home. Owning a home goes well beyond paying a mortgage and utility bills, mowing the lawn and buying furniture. All homes require some maintenance, but you need to evaluate what has been done recently versus what will need to be done in the coming years. Putting together a handout for buyers with the average lifespan of the different systems in their home can be a great resource to share with them.

Buyers usually work with their lender to determine their housing budget but don’t be afraid to discuss this with them as well. While you can’t tell them the size of the mortgage they will be approved for, make sure they are building a household budget that leaves them enough money every month after all their expenses to set aside some for future needs. When their air conditioner goes out in July and can’t be fixed, they will want to have a savings to tap into so they can pay new one. If they are setting aside a portion of money each month for future repairs or upgrades they want to make, they will be better prepared to handle a new air conditioner unit or a busted water heater than someone that hasn’t planned for that.

Another thing to discuss with a buyer is a home warranty. Take the time to explain how a home warranty works and let them decide if it would be beneficial to them. It won’t cover everything and doesn’t cover routine maintenance but may cover many other items and save them some money without too much of an expense.

Are they used to calling a landlord for every little thing? Do they understand that from now on when the toilet is clogged or the roof leaks they will have to either fix it themselves or call a professional? Another way to help prepare them for the inevitable time they will need to call for help is to provide them with a list of your trusted experts that they can call when they need someone. They need the list from day one not just when an emergency presents itself.

While buying a house can be a short process, owning a home is a long-term commitment. Prepare your buyers for this and help them understand the obligations that come along with the American Dream.

When you help your buyers understand the responsibility of home ownership it prepares them for those “things that happen” so educate them, help them understand it is important to have an emergency fund set up for home expenses and maybe give them a vendor’s list of services you recommend in the area as part of the closing gift.

Another thing you can do for your buyer is to have them sit down with their mortgage lender to learn how the loan process works and what they need to focus on when it comes to buying a house. Being a pre-qualified buyer gives them more buying power and everyone can now start seriously looking for that perfect home.

I am constantly telling my coaching clients they must get comfortable with having the potential buyer sign the Buyer Representation Agreement before they step foot in your car. So, while you have them complete the Client Information Sheet, Wants and Needs Sheet have the Buyer Agreement together and tell them that you must have these two items before you can start showing them property.

If you take the time to educate your buyer clients for what to be prepared for in home ownership it will create a relationship that will be very rewarding in the future.

Don’t forget to download your TWO Freebies this week. Here is the link

*****

Thanks for watching this weeks video and don’t forget to download your freebies.

If you enjoyed this blog, please SHARE IT, watch it on YouTube and let me know your thoughts, LIKE IT and don’t forget to SUBSCRIBE to my Channel.

One of my most popular blogs to date is What Does Your Voicemail and Texting Habits Say About You. Read it here

Here we are heading into the last quarter of 2018. This blog will help you get your finances in order. Check it out by clicking here.

You can read my other real estate business blogs and get free downloads by visiting https://www.kimhughes.com/resources/real-estate-blog/

COMING SOON!

automatically go into my private list to receive the first announcement.

YES! I WANT TO BE THE FIRST TO KNOW – SIGN ME UP!

*****

Ready and motivated to organize your life? The 90 Day Real Estate Planner is a must for any agent,

Are we connected?:

August 17, 2018 By Kim Hughes Leave a Comment

What Does Your Real Estate Listing Checklist Look Like?

As a real estate agent just starting out, it can be hard to build your business to the point where you have a consistent inventory of listings for sale. While buyer clients are great to have, they can take up a lot of time and sometimes after all that time, they decide not to buy or never find the house they are looking for. Building your business so that you maintain a steady inventory of homes for sale can help you add some consistency to your income.

When you first start listing houses, it can be overwhelming to figure out what you need to do for each house and not overlook something. If you are listing homes without a listing checklist, that’s like baking cookies without a recipe. The results will likely be inconsistent and less than desirable. Having a plan when you start the process will improve the service you deliver and allow you to manage your time better so you can serve more clients at one time.

What Does Your Real Estate Listing Checklist Look Like?

When you start putting your checklist together, think of everything you do when you list a home and try to put it all together. Some items to include are

Putting the listing in MLS
Scheduling photo session
Creating brochures or fliers
Putting up the sign
Creating the Lockbox
Scheduling an open house
Preparing your Just Listed posts cards
eBlasting the listing to your database
Promoting the listing to your local and out of area agents
Promotion on Social Networks
Setting Feedback System
Scheduling Seller Reports

You can always choose to skip some items if they aren’t necessary for a certain listing, but you don’t want to forget them when you get multiple new listings in the same week and are trying to get everything done. Don’t forget the things you need to follow up on later in the listing. Everything won’t happen just in the first few days. Many other tasks that will need to be done throughout the listing so include those as well.

Download this sample listing checklist to get you started but make sure to spend a little time customizing it to meet your needs. When you have a thorough listing checklist put together, you need to decide how you are going to manage your checklist, so you can keep up with what’s been done on each listing and when it is time to work on the next one. A good real estate CRM will have a section for managing listings where you can add your checklist then apply it to each listing. As you work on different tasks throughout the listing, you will need to be able to track what you have completed and get reminders when it is time to complete the next task. The other nice thing about a CRM is it will keep track of the items you have done so you can share the information with your sellers to keep them informed.

My very popular Listing Coordination Spreadsheet is also a tool you can use within your team to stay up-to-date on how that listing is marketed.

Like anything, a little planning can make a big difference and listing homes is no different. Take a little time to create a checklist that will take your business to the next level, and before you know it, you will be a listing machine.

Not to mention organized, excited about how your business is moving forward and your sellers are referring you to other because you are on top of it.

Need help putting together your real estate listing checklist, not sure how to set up your CRM or just don’t have the time, but understand the importance? Reach out to me and let’s talk about how Kim Hughes & Company can help you put your business in order.

Thanks for watching this weeks video and don’t forget to download your freebies.

If you enjoyed this blog, please SHARE IT, watch it on YouTube and let me know your thoughts, LIKE IT and don’t forget to SUBSCRIBE to my Channel.

Here is a blog I wrote that talks about Taking Listings – this would be a good one to watch

My blog “What Does Your Email Signature Say About You” is one not to miss.

You can read my other real estate business blogs and get free downloads by visiting https://www.kimhughes.com/resources/real-estate-blog/

COMING SOON!

automatically go into my private list to receive the first announcement.

YES! I WANT TO BE THE FIRST TO KNOW – SIGN ME UP!

Ready and motivated to organize your life? The 90 Day Real Estate Planner is a must for any agent,

Are we connected?:

5 Bookkeeping Tips To Finish Out Your Year

Get On Track To Accomplish Your Goals

5 Tips To Organize Your Holiday Card Mailing with Freebie

Are Your Buyers Prepared To Be A Homeowner?

What Does Your Real Estate Listing Checklist Look Like?

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Connect with Kim Hughes & Company

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