Add a Zero to Your Income by doing this one thing!
This one killed me. Because it was so stupid and I couldn’t believe I wasn’t doing this my entire career in Real Estate.
And the worst part is that even after all of those years and all of the transactions… I didn’t even think about it. I stole the idea when I was visiting a friend and learning about his operation.
I immediately started to think about all the buyer clients that I had lost over the years because quite frankly… I was doing a crappy job working with them.
Millions of dollars in lost fees. And it could have been so painfully easy to retain them...
Real quick, hey it’s Jeff Chubb. I am a recovering RE/MAX, then eXp Agent that now is partnered with REAL. If you have any questions about my experiences, then know I am an open book and ready to help… All confidentially of course. And if you like the content, then I appreciate you slamming that like button right down there and considering subscribing!
Okay, so what is it? What is this painfully stupid idea?
It’s texting your clients house options that you have scrubbed.
I know what you are thinking… DUH. But it’s the system that you need to put in place to ensure that you are consistent that makes the difference.
Consistency is key in pretty much everything in life. But you can see the difference it makes in this business very quickly!
So here is the system. You most likely have a CRM that is sending your clients properties. Hopefully you have a CRM that tracks how often your buyers view a property as well… We will also dig into that one a little more in a couple of seconds.
Now that you have your client setup to receive property listings, you now need to set yourself up as well. Set Up a direct MLS search and have the data pulled so that it sends you the house the moment it is listed.
Now to be clear, this is not for every buyer in your database. This is for the home buyers that are serious. Your A and B buyers that have signed exclusive buyer agency agreements.
By the way, did you catch that? Are you looking to provide more value to the folks that sign a buyer agency agreement? This is a differentiating value proposition!
It’s time to do the work and make the difference now that the MLS is set up to send you properties on your buyer John Smith’s home search.You will get these properties in your email and you will want to scrub the property. This is a very important part. You need to scrub it. You need to ensure that the house that you are about to text over to the client checks most, if not all of the buyer’s needed boxes.
You don’t want to be texting over 33 houses a week. This is to be targeted. Think two or three a week and only if there are actually two or three good options.
This will do a couple of things for you. This will increase your value in the eyes of your buyer and will also increase the likelihood that the buyer will schedule property showings. It increases the amount of communication to the home buyer which creates more loyalty. And I think that you will also find that it speeds up the search process.
Back to your CRM and what it tracks. Hopefully your CRM notifies you if one of your prospective buyers has viewed a house 5 or more times. That is a pretty great indication that your home buyer has some strong interest.
I hope that you are following up with them as well. Okay, maybe not reaching out to them every time that they look at a house 5 or more times. Because then they may just start to think that you are spying on them.
And the text is simple, “Hi John, any thoughts on this one?”. If you have a CRM like I do then you are able to put in the MLS number and it will create a link with the text. But if you don’t have that feature, then simply go to your website and grab the web address link and have it as part of your text.
DO NOT give them a link to Zillow or Redfin. Build up your own credibility with the home buyer. No theirs.
Hope this helps. I can only imagine what it would be like if I had known and built out this system when I first started.
Again, it’s Jeff Chubb. If you are considering changing brokerages and want to learn more about REAL Broker, then I would love to be the one to show you the advantages of teaming up with this amazing company. https://bostonrealestateinvestorsassociation.com/realtors-add-a-zero-to-your-income/

Boston is the best at so many things… But when it comes to getting a big fat monthly cash flow return on an investment property… Not so much! Realtor.com did analysis and a ranking of the top Markets for Investors and the results were extremely surprising. 

The Realtor.com article mentions that investor markets each offer investors a unique combination of advantages, but in general, these are affordable markets that see considerable buyer demand and low rental vacancy rates.
Take a guess at what the top market for investors is in the country?
Was Dayton, Ohio on your list? If so then you are a genius. If not, then I can’t blame you. I am not too embarrassed to say that I had to look up where Dayton Ohio was. It is located about an hour from both Columbus and Cincinnati.
Dayton is a mid sized city in Southwestern Ohio that sports a low median home price of $239,000.
The rental vacancy rate in Dayton was just 4.7% in the first two quarters of 2024 which is lower than the national average of 6.6%. And because of these favorable market conditions, investors makeup 13.7% of buyers in the first quarter of 2024 in Dayton.
The top 10 markets for investors are Dayton, Ohio, Rochester, New York in the number two slot, then Cleveland Ohio and Pittsburgh, Pennsylvania in the third and fourth positions. Followed by Knoxville Tennessee, Albany New York and New Haven Connecticut in the fifth, sixth and seventh spots.
New Haven Connecticut. That one surprised me! To finish out the rankings we had Buffalo New York in spot 8 and Grand Rapids, Michigan and Columbus Ohio in the ninth and tenth places.
So what is next for Dayton? Prices are going to rise. It will most likely fall off its top spot. With its combination of affordable housing, increasing demand and low vacancy rates.
Mike Wall, owner of EZ Sell Homebuyers, a We Buy Houses Dayton OH company has been seeing home prices go up steadily as more and more people look to buy. He specializes in working with people who need to sell my home fast as he is a property flipper who buys homes that are in need of repairs.
An issue that Dayton is beginning to see is that big investors are quickly buying up homes. This isn’t just making asset prices rise, but also increasing rental prices in the area as well.
Investors will talk in the term of Cap Rates when analyzing different real estate opportunities. So what is a Cap Rate? The Capitalization rate, or cap rate is a metric used in real estate to estimate the potential return on an investment property. It’s calculated by dividing the property’s annual net operating income by its current market value or purchase price.
Generally speaking a property with a higher cap rate will carry a better return, but that better return comes at the cost of higher risk. In other words an area like Dayton Ohio would have a much higher cap rate then an investment in Boston. The Dayton, Ohio investment will offer investors a much higher cash flow return, but will be a more risky investment in that investors portfolio.
When it comes to investments, it’s important to remember that there is no right or wrong return. It’s just the return and the investment objectives that you are trying to achieve. An older more risk averse investor would most likely look for an investment in an area like Boston that offers a very stable return. An investor who is willing to take on a more risky investment in return for a higher operating return would be looking in areas like Dayton.
To put this in a local perspective. The Back Bay neighborhood will carry a lower cap rate than an investment in Roxbury. The Roxbury investment will provide the investor with a higher operating return.
Do not hesitate reaching out should you have any questions or are thinking about investing in the Massachusetts market or really any market throughout the country. Let’s talk about your objectives and come up with a strategy in order to achieve those objectives.

#investor #market #isnt #Massachusetts..
Jeffrey Chubb
2024-10-25 12:26:00 https://bostonrealestateinvestorsassociation.com/the-best-investor-market-isnt-massachusetts/