Real Estate Sales & Marketing Mastery Weekly Tip

Bill Zimmerman's Weekly Tip - Stopping "Productivus Interruptus"

2012-01-23T16:23:00.000-08:00

Here we are again at the beginning of a new week. Even though it's hard sometimes to get mentally in gear and moving, I love Monday's! Why?? Because it's my chance to start fresh. To reach my goals. To do better than last week at mastering my time.

Today I'd like offer a few tips for stopping "Productivus Interuptus." Yes, it's time to stamp out this disease once and for all and experience the liberation that can come from becoming the master of your time while at work rather than letting circumstances master you.

Stopping "Productivus Interuptus"
(from the excellent read "No BS Time Management for Entrepreneurs," by Dan Kennedy)

· Get lost! Not them, you!
· Don't answer the phone
· Check the fax/email only twice a day
· Set the timer on the bomb - hold yourself to a time limit for each task
· Be busy and be obvious about it

Ten Time Management Techniques really worth using!

1. Tame the phone
2. Minimize meetings
3. Practice absolute punctuality
4. Make and use lists to categorize demands:
- Do it
- Delegate it
- Defer it
- Dump it
5. Fight and link everything to your goals
6. Tickle the memory with tickler files
7. Block your time
8. Minimize unplanned activity
9. Profit from "odd lot" time (i.e. listen to work-related CD's while driving, do work while waiting for a plane, etc.)
10. Live off-peak (i.e. avoid traffic by avoiding rush hour, do your grocery shopping at 9:00 at night, etc.)

"There cannot be a crisis next week, my schedule is already full."
– Henry Kissinger

I hope these tips help you become more productive this week. It's hard, I know, but focus every day on self-mastery of your time and the results will come!
Make it a great week.

Your Partner in Greater Success,

Bill Zimmerman

Bill Zimmerman's Weekly Tip - G-fee? What's a G-fee and does it affect interest rates?

2012-01-18T15:34:00.000-08:00

Let it snow, let it snow, let it snow. Even though the roads are dicey, our mountains could certainly use the moisture. Plus, my kids are having a great time in the back yard... Hey, winter's finally here!

Today I want to be sure you're up-to-date on the new government-mandated increase to the guarantee fee. This is an important topic to understand to help you better explain what's happening to your clients. So, here goes:

Last month President Obama signed into law the Temporary Payroll Tax Cut Continuation Act. This Act uses increased guarantee fees (aka G-fee) on new mortgages to pay for reduced payroll taxes. The amount of the g-fee increases will be included in future mortgage costs.

As a valued referral partner, I feel it’s important to keep you updated on critical updates within our industry that could affect your mortgage planning. The Temporary Payroll Tax Extension will increase mortgage costs on loans that are slated for delivery to Fannie and Freddie. This would include the vast majority of loans that are not government or Jumbo loans.
Mortgage lenders will factor in these higher costs within the next couple weeks. Bottom line, rates will likely increase due to this fee.

If you are thinking of refinancing or purchasing and want to avoid paying for the country’s Temporary Payroll Tax Extension over the next 15-30 years give us a call as soon as possible.
I have also attached a news link below that covers this topic.

http://www.housingwire.com/2011/12/29/freddie-fannie-to-raise-g-fees-in-april

Your Partner in Greater Success,
Bill Zimmerman

Bill Zimmerman's Weekly Tip - Thanksgiving Week Interest Rate Update Video

2011-11-21T11:41:00.001-08:00

Today I've created a video for you to review and use as talking points with your clients regarding the interest rate/bond market movement we've seen since Friday's market close.

The good news is that conventional, fixed rates are about .125% lower than they were the end of last week! There's no better time than now to buy or refinance a home, that's for sure.

Enjoy the video at this link: http://youtu.be/xJ2A0sClKlg

Despite a continually challenging real estate market here in the Treasure Valley, we all have a lot to be thankful for. I wish you all a Happy Thanksgiving!

Your Partner in Greater Success,
Bill Zimmerman

Bill Zimmerman's Weekly Tip - Do You Wear a Mask?

2011-11-02T10:27:00.000-07:00

If you live in a neighborhood like I do you probably had more visitors at your front door this week than you have over many months' time. At my house we greeted a LOT of little trick-or-treaters (and some not-so-little that probably should have stayed home!) in a variety of costumes. It was fun to see some of the kids we know from the area all dressed up - a lot of cute little kids! We recognized most of them, with the exception of those wearing masks. Without noticing their parents waiting out on the sidewalk it was pretty tough to figure out who they really were sometimes.

Just like kids in masks on Halloween, how recognizeable are you to our clients and referral sources on a daily basis? Do you tend to hide behind a mask of disconnect? Are you overly uptight, professional and impersonal? (a personal weakness of mine sometimes...)
Remember who you're dealing with everyday; people who want to connect with a real person. This is not as easy as it sounds some days, but it's what makes work FUN!

Be real. Be vulnerable. Apologize often. Share personal stories and experiences. Let people get to know you and your work will become more enjoyable, satisfying, and rewarding - personally and financially.

So, let's start with today. Make today a fun day of connecting on a personal level with thirteen people. Make at least ten phone calls and/or three face-to-face visits with past clients and potential referral sources. You can do it and enjoy it! Do this daily and your business will grow, guaranteed!

Your Partner in Greater Success,

Bill Zimmerman

Bill Zimmerman's Weekly Tip - Extraordinary Demands vs. Time Vampires

2011-10-17T15:05:00.000-07:00

I hope you've had a productive, good Monday today. As I promised last week, I'll be sharing a few tips on time management over the next several weeks. Most of these will be excerpts from Dan Kennedy's excellent book, "No BS Time Management for Entrepreneurs."

Last week I mentioned a few of many "time vampires" that tend to suck up our time and energy while at work. To the extent we can get them out of our workday, the more productive and profitable your business will become. Take a look at the list below of Extradorinary Demands (things you should prioritze and spend time on) vs. Time Vampires. Mr. Kennedy even gives some good suggestions on how to best 'stick a stake through the heart' of the time vampires in your workday. Enjoy and profit thereby!

Extraordinary Demands V.S.
Time Vampires
(from No BS Time Management for Entrepreneurs, by Dan Kennedy)

Extraordinary Demands include time to:

· Solve problems
· Create
· Invent
· Think
· Plan
· Collect and assimilate information
· Develop sales
· Plan and execute Marketing
· Network

Time Vampires include (but are not limited to):

· Mr. Have you got a minute?
· Ms. Meeting
· Mr. Trivia Interrupter
· Ms. Drama Queen

Time Vampire solutions:

Mr. Have you got a minute?
· Stake: "I'm busy right now. Let's meet at 4:00 for 15 minutes and tackle everything on

your list at one time."
· Will take repetition, but they will eventually learn

Ms. Meeting:
· Hold stand-up only meetings (no chairs)
· Circulate the information some other way – using a memo, email, internet site, bulletin board, conference call
· Set the meeting for immediately before lunch or at the end of the day
· Have a clear, concise written agenda prepared for specific purposes
· Don't serve refreshments
· If you must attend a meeting, have a predetermined exit strategy – someone coming to get you or call you at a certain time, etc.

Mr. Trivia / Interrupter
· "I have an exceptionally busy day, so I am only dealing with 9's and 10's on a 1-10 scale.

Everything else MUST wait until tomorrow. Are you convinced that what you want to talk

to me about is a 9 or 10?

Ms. Drama Queen
· Cut to the core of their problem and offer a solution. This is NOT what they want. They

don't want solutions, they want soap opera. Spoil their fun!

Now it's your turn to share! If you have other time vampires and effective ways to slay them, please email me. I'd love to learn what works for you. In the meantime, have a great week and remember I'm never too busy for your referrals!

Your Partner in Greater Success,

Bill Zimmerman
208-939-0002

Bill Zimmerman's Weekly Tip - The Definition of 'Work'

2011-10-10T09:37:00.000-07:00

Welcome to fall! (Boy, it sure turned from summer to fall fast last week...) This is definitely my favorite time of year - no allergies, cooler weather, and fall colors around the corner.

Today I'd like to share a short excerpt from a great new book by Douglas Smith (nationally reknowned speaker, author, and sales trainer - www.DougSmithOnline.com) called "Green Zone Selling." He really nails down the definition of the word, "work:"

Joe Girard is known for being the top automotive salesperson of all time. Joe's success is unparalleled in his industry; no one even comes close to his career numbers in car sales. Joe was once asked about his secret to success. He responded, "When I eat, I eat. When I sleep, I sleep. When I play, I play. When I work, I work."

Girard went on to explain that if you want to be a top salesperson, you have to spend every minute at work actually working. He noticed that many of his colleagues came to work not to work but to socialize, to read the paper, snack, play on the computer, even to catch up on their sleep. Joe was different. He came to work with one purpose in mind: to work. Maybe that's why in an industry of so many subpar performers Joe Girard became a miltimillionaire.

Are you OK with Joe's concept of work? Some people aren't. The Bureau of Labor Statistics recently reported that American workers spend as much as 30% of their day engaged in activities that have nothing to do with their jobs. Thirty percent! The study found that while people were supposed to be "working" they were instead making personal phone calls, running errands, playing on the Internet, balancing their checkbooks, reading magazines, talking about sports, taking smoke breaks and performing a host of other time-consuming tasks having nothing to do with their jobs. (My father, who had an admirable work ethic all his life, would say, "Work is not someplace you go, it is something you do.")

What is your definition of work? Do you go to work to really work? Can you honestly look yourself in the eye at the end of a workday and know you've put your best foot forward and actually worked all day?

A big part of learning how to work is learning to master your time and focus while at work. Over the next several weeks, I'll be sharing some practical, excellent time management techniques with you that will help you work for effectively. Until then, take a few minutes to think about your work day and write down when/where you aren't actually working. Doing this will help you organize and prioritize your workday in light of the time management skills I'll be sharing.

Looking forward to it!

Your Partner in Greater Success,

Bill Zimmerman

208-939-0002

NMLS #3773

Bill Zimmerman's Weekly Tip - What Did Interest Rates do During Today's Stock Market Sell Off?

2011-08-08T16:05:00.000-07:00

Wow. What a ride. And it's most likely not over, yet... The S&P downgrade of the U.S. government has caused a major sell-off in the stock market.

But, did you know that Fannie Mae and Freddie Mac were also downgraded because of their reliance on the US government for operational solvency?

So, what did that mean for interest rates today?

I've put together a brief video to show you exactly what happened in the mortgage bond markets here: http://www.youtube.com/watch?v=z8KKy9idYUk

Hopefully, this will help you better explain to your clients what's going on and how it affects their home buying decisions. These are unsettling times and market volatility seems to be the new rule rather than the exception. As always, feel free to contact me if you have questions or concerns about the markets and interest rates and I'll be happy to share what I know.

Your Partner in Greater Success,

Bill Zimmerman

PS - If you're a Treasure Valley (Idaho) real estate agent and want free, exclusive access to great sales and marketing information above and beyond what you see in this blog, join the Pinnacle Club for Realtors at www.ForIdahoRealtors.com. You'll be glad you did!

Bill Zimmerman's Weekly Tip - Interest Rates Unlikely to Rise if US Defaults?

2011-07-26T15:09:00.000-07:00

There's a lot of noise out there right now - most of it from Washington D.C. The impending debt ceiling limit is a main topic of conversation (and worry) this week.

What will happen to interest rates if the United States' credit rating is lowered and/or the debt limit is not raised by August 2? Well, that's hard to say... You already know the conventional wisdom and bluster coming out of our political leadership - that rates will rise dramatically on everything, including consumer loans, like mortgages, if the U.S. defaults.

While that might happen, there's another camp who haven't gotten much press and have a far different take. Many financial experts don't agree that interest rates will necessarily rise if the U.S. receives a lower credit rating or even defaults on a few obligations for a day or two. They say rates would have already risen had that been true. (markets typically reflect a forecast of the future)

Their reasoning? Where else are the large institutional and foreign investors going to go to find better bonds than the U.S.? Yes, we have a ton of debt. Yes, we spend more than we take in and that needs to change. But, in today's world our bonds would still be the safest place to invest compared with all other government or corporate bonds. Therefore, our standing relative to the rest of the world still makes us more attractive. As the U.S. goes, so does everyone else...

Food for thought, if nothing else...

Have a great week, everyone! Keep your head down, chin up and keep working! As always, I look forward to working with you and your clients very soon.

Your Partner in Greater Success,

Bill Zimmerman

Bill Zimmerman's Weekly Tip - Perfectionism vs. Success

2011-07-11T12:00:00.000-07:00

It's a great Monday! (even if you don't feel that way now, keep smiling... it'll help you turn it around!) In my conversations with many of you over the past few weeks there seems to be a general consensus that business is better this summer than last. Some of you are busy and some only moderately so, but let's take the good with the bad and make this a better year than 2010.

Today's tip focuses on one of my personal flaws - perfectionism - and how that trait can actually get in the way of success. Enjoy and profit...

Perfectionism vs. Success
By Bob Cox

"Bob," my partners and business associates would often say to me, "you are a great detail guy. We love your reports. We can always count on you to strive for perfection."

I wore those words the way a proud war veteran wears his medals. But the truth is, those "medals" were a millstone around my neck and were slowing me down. My perfectionism was a time-wasting, money-losing goal killer that probably doubled the time it took me to be successful.

My "Aha!" moment came 10 years ago. A client had hired me to take charge of negotiating a three-year, $10,000,000 contract with a healthcare provider. It took four months, eight meetings with principals, 12 revisions of the contract, endless phone calls, and hundreds of documents and data reviews.

It was perfect and everyone was satisfied. All parties involved signed the contract. I was exhausted yet excited and thrilled that the ordeal was over... and would not begin again for another three years.

But a mere 60 days after signing the contract, the service provider notified my client that they were exercising the "out clause" - two sentences (signed off on by our attorneys) that allowed them to cancel. Turns out there were a few important details that hadn't been covered.

Unbelievable as it was, we had to re-negotiate.

I was again asked to take charge. This time, I informed everyone involved that we would have only one meeting for resolution. They were to come prepared to compromise and to make a decision. They did, and a new contract was quickly written and signed.

That's when I realized that this is the way I should have handled the negotiation from the beginning. I should have aimed for "good" and then aimed for "better" once we were sure we had the essence of the contract on paper. It would have been far more productive than wasting everyone's time with my need to perfect every little detail.

Is perfectionism keeping you from accomplishing your goals?

Have you ever said something like:

"This report has to be perfect before I turn it in."

Or...

"My presentation has to be perfect before I meet with the client."

Problem is, perfection is impossible. And continuously striving for it can stall you - keep you from making progress on your goals and benefiting from the results.

Sometimes, the very thought that you aren't doing something "perfectly" can stop you in your tracks and stomp on your motivation.

Don't fall into that trap.

If, for example, you have to get a winning sales letter in the mail to achieve one of your business goals, take a shot at writing it. Aim for "good" - and get it about 80% of the way there. Then test it. Once you have the test results, you will be able to aim for "better," because you will have more information to work with.

The 80% rule should be applied to every goal you set for yourself.

Let's say you have been slaving away at a project. You've been putting in long hours, and wearing yourself out. As a result, you are beginning to neglect your other job responsibilities - and even your health.

It's time to put the 80% rule to work.

Say to yourself, "Have I achieved 80% of what I was aiming for with this project? If not, I will continue to work on it. If so, I will move forward."

Now this doesn't mean that you don't pour 100% of your energy and attention into your goals. It just means that you stop trying to make every detail perfect.

It took me 25 years to learn the 80% rule. Do not wait that long to take advantage of this time-saving, money-making, and goal-achieving insider secret. Had I implemented the 80% rule much earlier, my success would have come much faster and easier. (I also would have had a lot more time to spend with my family.)

If, like me, you are a perfectionist by nature, it won't be easy to keep your perfectionism at bay. It will take constant effort. But it will be well worth it.

That's why, for the past 10 years, this has been my rule: 80% means good to go! As Michael Masterson always says, "Ready, Fire, Aim."

I Hope you learn and are implementing these weekly tips into your marketing plan. Feel free to forward this email to friends and enemies…Email me if you need answers to your specific questions or have clients to refer who need financing for a home. I look forward to hearing from you soon.

Your Partner in Greater Success,

Bill Zimmerman

P.S. - If you are a real estate agent in the Treasure Valley, check out the free Pinnacle Club for Realtors (www.ForIdahoRealtors.com) for even more great real estate sales and marketing tips and information from nationally reknowned experts. See you in the Club!

Bill Zimmerman's Weekly Tip - Think Like a Super-Achiever (part 1 of 2)

2011-06-27T10:37:00.000-07:00

Earl Nightingale, the motivational speaker and best-selling author, conducted a study many years ago in which he interviewed 50 super-achievers and 250 "average people." He sought to discover the fundamental differences in the thought-processes between the two groups. The nine psychological characteristics of super-achievers are lessons for all of us:

1. They are less sensitive to disapproval and are able brush off rejection faster.

2. They think in ways that facilitate effective action.

3. They focus better on the task at hand; they do not obsess about unpleasant past events.

4. They are not superstitious. When something bad or unlucky happens, they assume it was an isolated incident.

5. They believe failures are an important source of learning and refuse to equate failure with low self-worth. They think constructively and, therefore, do not waste their time.

I hope you find this interesting, inspiring and useful in your own life. Look forward to part 2 next week.

As always, I look forward to your comments and referrals. Have a wonderful Independence Day celebration with friends and family this weekend!

Your Partner in Greater Success,

Bill Zimmerman

PS. For more free sales and marketing advice, join The Pinnacle Club for Realtors (if you're an agent in the greater Boise, ID, area) at www.ForIdahoRealtors.com. Check it out!

Bill Zimmerman's Weekly Tip - How to Succeed in Business Without Lying, Cheating, or Stealing...

2011-06-20T09:41:00.000-07:00

Here are some pearls of wisdom from Jack Nadel, author of How To Succeed in Business Without Lying, Cheating, or Stealing.

If half of what you do is successful, you are batting .500 --- a great average in any league. Never expect perfection or a 100% hit rate.

Keep it Simple ---whether it is your approach to the marketplace, an explanation to an assistant or client, or a marketing piece, simplicity is the key.

If you can't explain it in 60 seconds, you probably can't sell it ---you have one minute to get your prospect's attention, especially over the phone. Think as if you were sending a telegram, not a letter. Cut to the chase and make every word count.

If your premise is wrong, everything that follows is wrong ---one application of this idea is information gathering and the need for excellent listening skills. You must absolutely be on the same wavelength as your clients.

Marketing is the combination of advertising, public relations, and sales ---Realtors must be skilled in every detail of the marketing mix. The path to success is like a cake with many important ingredients.

I hope you enjoy these tidbits from a savvy entrepreneur. As always, I look forward to your calls and referrals. Have a great week!

Your Partner in Greater Success,

Bill Zimmerman

www.ForIdahoRealtors.com

www.zimmermanloans.com

Bill Zimmerman's Weekly Tip - 3 Easy Time Management Tips

2011-05-23T12:15:00.000-07:00

Here we are nearing the end of May. Unbelieveable! I can't believe how fast time flies. I hope you're working to tame the time tiger every day, like I am. It's tough, isn't it? I mean, you start out the day with an iron fisted grip on everything you plan to accomplish and, by noon, you feel it starting to slip away... Interruptions, phone calls, email, internet, etc. all try to steal your well-laid out plans until, suddenly, it's time to wrap it up for the day and your list is only half done.

Well, here are a few suggestions that work pretty well for me:

1. Do the most unpleasant tasks FIRST. While I still have my early morning energy and enthusiasm, I tackle and do those things I really don't want to do. Then I can better enjoy the rest of my day.

2. Use time-blocking to carve out specific 15-30 minute intervals you assign to accomplish specific things.

3. Manage unwanted interruptions until you've completed the task. Let calls go to voicemail. Log out of your email. Do not surf the web. Are you really that much more productive checking and answering email every 15 minutes all day long? I don't think so...

Of course, there are many other little tricks to time management, but these three seem to be the main helps for my day. Hope it helps you, too!

I look forward to your comments and referrals anytime. Let's make it a great week!

Your Partner in Greater Success,

Bill Zimmerman

208-939-0002

Bill Zimmerman's Weekly Tip - To Bi-Weekly or not to Bi-Weekly, THAT is the Question!

2011-05-16T09:53:00.000-07:00

In my view, some of the best financial life-skills tips are free. Today I've got one of those for you that will not only benefit you personally, but also can be used as a 'gem of wisdom' to share with your clients and prospects.

I'm sure at some time since you took out the most recent mortgage on your home, most of you have probably received an "invitation" from your bank or lender to participate in a bi-weekly payment program. The idea behind doing bi-weekly payments is not new and is, in actuality, not a bad way to help you pay off your mortgage early and reduce the amount of interest you ultimately pay the bank by thousands of dollars.

Basically, you're using the calendar to your advantage. Instead of paying monthly (12 payment per year), you'd pay every other week. Because there are 52 weeks in a year, you'd make half your normal monthly payment 26 times. That means you really make 13 full payments instead of the 12 you'd normally make just making your payment on a monthly basis.

For example, a $150,000 30-yr. fixed mortgage at 4.75% on a bi-weekly payment program (essentially paying one extra payment per year) would save the homeowner about $23,000 over the life of the loan AND knock 5 years off the total term. Not a bad way to use the calendar to your advantage! Of course, the benefits are even greater at higher interest rates and higher mortgage balances.

As with every good thing, banks are there to exploit it... As I see it, the two basic problems with bank bi-weekly payment offers are 1) they usually charge a 'set-up' fee of $200-400 (for doing what, exactly?!?!)and 2) you're locked into a rigid payment program where roughly half your monthly mortgage payment is deducted every two weeks from your checking account. That may not work so well for some who's checking balances vary wildly throughout any given month.

The advantage that banks always tout is that a bi-weekly payment program with automatic checking withdrawal helps with "forced financial discipline" which, granted, there are certainly many people out there who could certainly benefit from a little forced discipline...

But, there IS another solution that both addresses the financial discipline problem and is FREE! But before I divulge, it's important to understand that 99% of the bank-sponsored bi-weekly payment plans DO NOT apply the mid-month payment toward the mortgage until the full month's payments are received. So, you're really not getting any benefit paying every other week, anyway! The benefit comes in paying an extra payment's worth per year.

Here are two ways to do-it-yourself for free: 1) you can either just take your current payment, divide it by 12, and add that small extra amount as extra principal payment to your monthly mortgage payment or, 2) if you're afraid you'll forget or lack the self-discipline over time, simply set up a special savings account for this purpose at your favorite bank and direct your bank to send your extra payment amount directly to your mortgage company as a principal-only payment on a specific day of the month. Be sure to check with your mortgage company on their procedures for sending and applying extra principal payments so you do it right for their system.

That's my tip for today. I hope you found it useful. As you share it with prospective buyers it will help you stand out as an expert and someone who really does care to help them succeed as a homeowner.

Your Partner in Greater Success,

Bill Zimmerman

Bill Zimmerman's Weekly Tip - Which affected interest rates more - the wedding or the funeral?

2011-05-02T14:20:00.000-07:00

Wow! Talk about a news week! To go from a royal wedding to enemy #1's "funeral" in the space of a few days... I think I'm having emotional whiplash.

I congratulate our military and leaders on finally finding and taking out the man who's caused so much misery and death for so many over the past 15 years or so. Hopefully, this action helps make the world a safer place.

Today I'll be brief and simply share my "Talking Points of Interest" video with you regarding recent interest rate moves. The data is inconclusive on which direction the economy is likely moving at the moment, but I suspect we'll find out over the coming weeks - especially as Mr. Bernanke winds down the QE2 stimulus by the end of June. Take a few minutes and learn here: http://www.youtube.com/watch?v=gciaj31kQLU

Rates are great! Now's the time to buy! I welcome your referrals and look forward to working with you soon.

Your Partner in Greater Success,

Bill Zimmerman

Bill Zimmerman's Weekly Tip - Why NOW Really is the Best Time to Buy...

2011-04-25T12:28:00.000-07:00

I hope you enjoyed the Easter weekend as much as I did! What a wonderful time to celebrate true hope through Christ with worship, friends, family, and, of course, great food. It makes it hard to come back to work on Monday morning.

Last week, did a short presentation at a local real estate office sales meeting showing compelling data as to why NOW is the best time in decades to buy a home. With the HOI (Housing Affordability Index) at all-time highs because of stable wages, low prices, and historically low interest rates, today is an even better time than the early '70's was to buy a home!

As an agent, you need a full arsenal of information to share with prospective buyers (especially fence-sitters) as to why they should get involved in purchasing a home - sooner than later!

To that end, this article from Fortune magazine articulates my point very well and I encourage you to refer to it in your buyer presentations: http://finance.fortune.cnn.com/2011/03/28/real-estate-its-time-to-buy-again/

Let's do all we can to educate the public on why now really is the time to buy again.

Your Partner in Greater Success,

Bill Zimmerman

Bill Zimmerman's Weekly Tip - Are you doing the #1 thing to Improve Customer Satisfaction?

2011-04-18T13:21:00.000-07:00

Before sharing the #1 thing you need to do to improve your customer satisfaction levels, let's take a look at this week's "Talking Points of Interest" video. You may have heard that Standard & Poor's (one of the major credit rating agencies) downgraded their outlook for the United State's continuing, long-term ability to maintain our current AAA bond rating from stable to negative. Do you know how that surprise announcement affected mortgage rates today?? Find out here: http://www.youtube.com/watch?v=KVzyVP9XJC0 Another useful thing to know that happened over the past week is that Fannie Mae announced they are now offering to pay 3.5% of the sales price of a Fannie Mae REO toward the buyer's closing costs for all sales completed through June 30th. Hey, we'll take it while it lasts... Now on to today's tip... Customer satisfaction and loyalty are, of course, one of the HIGHEST priorities for each of us. So, what can you do to improve that? Well, take a look at this short article to find out (when you read it, you probably won't be surprised...or will you?): http://customercontactnews.com/are-you-doing-the-no-1-thing-to-improve-customer-satisfaction/ Now go sell something! Your Partner in Greater Success, Bill Zimmerman www.ForIdahoRealtors.com www.zimmermanloans.com P .S. - I'm closing purchases in three weeks...consistently! Plus, at Summit we always same-day sign/fund/record to help make the closing simpler, easier and get you paid quicker. Come join me at the Summit!

Bill Zimmerman's Weekly Tip - Some "good-to-know" mortgage programs...

2011-04-11T12:03:00.000-07:00

Today's tip will be short. Let's start off with this week's "Weekly Talking Points of Interest" video to get you up-to-date with the rates and mortgage markets: http://www.youtube.com/watch?v=XalbrUVxa7s

Today I want to remind you of the programs I can offer through Summit Mortgage (a direct lender) and some of our wholesale relationships to meet your client's homebuying needs. Here's the list:

- Conventional (all fixed and ARM products available including HomePath, HomeSteps, and refinances up to 95% LTV with NO mortgage insurance if the current loan has no mortgage insurance!!)

- FHA (3.5% down, non-occupant co-borrowers allowed to help qualify)

- FHA 203(k) renovation (can close prior to needed repairs/renovation completed!)

- VA (100% financing with no monthly mortgage insurance)

- RD (100% financing with no monthly mortgage insurance for rural areas - i.e. Kuna & Star in Ada Co. and everywhere except Nampa & Caldwell in Canyon C.)

- IHFA (Conv. and RD only)

- asset-based loans (for clients who can't show enough monthly income or don't have a monthly income but do have great credit and a large amount of savings)

- construction loans (believe it or not, there are some new homes being built...)

Again, Summit Mortgage is a full-service direct lender with our own underwriting and doc drawing departments. Plus, we always table-fund! (we sent the wire to title before anyone signs so there's never a need to wait until the next day to record and get your clients moved in!!)

Thank you to those of you who've referred your clients to me in the recent past. I appreciate it and look forward to continuing to work with you!

To you who haven't given me a try, yet, I'm confident you'll be pleased with my service and reliability. I get the job done right, on time, exactly as promised. Give me a try on one and see for yourself...

Have a great week!

Your Partner in Greater Success,

Bill Zimmerman

Excellence on Display at the... Pinewood Derby???

2011-04-04T12:00:00.000-07:00

A week and a half ago my son, Taige, and I anxiously arrived at his first Cub Scout Pinewood Derby. As you may already know, a Pinewood Derby is essentially an opportunity for dads (oops, I mean... boys) to create a car, or any other creative masterpiece, from a small block of pine wood. The finished creations then race each other down a 30' length of track fueled only by gravity as they rush toward the finish line on free spinning plastic wheels attached by soft metal nail "axles."

Besides a last minute major paint malfunction, (who knew paint would bubble instead of quick-dry in a 400 degree oven?!?!) Taige and I were optimistic about his car's chances of setting a new land speed record. You see, since this was my fourth Pinewood Derby as a dad (only 14 to go!!), I'd caught on to some of the tricks of the trade the other dads had utilized to make their son's cars fly down the track (and leave my other son's cars in the dust in years past...).

Specifically, I'd become aware that the location of the weights on the car really has little to do with the speed (a debate that's been raging for decades). It also doesn't matter how glossy the paint is (air resistance is a non-issue!). What really makes the difference is how little friction there is between the inside of the plastic wheel and the metal nail axle.

The nail itself has some manufacturing flaws, little metal burrs, right at the area of contact between the inside of the plastic wheel and the nail. Once those burrs are removed and the nail is buffed and polished the car speeds down the track much more easily.

So, Taige and I were prepared! We'd used a Dremmel tool to remove the problem spots on the nails and then sanded, buffed and polished the nails carefully for about 20-30 minutes. We were confident his car would place in the top 5 or so - despite it's unfortunate appearance... After all, how could we fail with the all the effort we'd put in?!?!

Well... After a couple of 2nd place finishes in the first few heats (and some others a littler further back than that...) I started talking to some of the other dads to figure out why some of the other cars, and one in particular, were going so much faster than ours. I was sure someone was using an illegal lubricant of some kind! I was wrong...

I finally discovered what the difference was - especially for the one car that seemed to just cream everyone elses. The grandfather of that particular Cub Scout had taken it upon himself to make sure there was as little friction as humanly possible with his grandson's wheel/axle contact. He'd literrally spent FIVE HOURS sanding, buffing and polishing those nails. He wanted to be SURE his grandson's car won. (and it did - over an over and over again!)

That was the secret! I'd smuggly thought Taige and I were doing really well with 20 minutes of work on those axles. (hey, that's 20 minutes more than I'd ever spent on that before!!) However, I was completely caught flat-footed by the granfather who not only put in extra effort, he put in the effort required to excel. I'd merely gotten started on it compared with his time and attention to detail.

This is a great analogy. As it relates to your real estate business, what are you doing to excel? What procedures/systems and skills set you apart from the rest of the agents out there? Are you willing to put in the time necessary to learn and know your sales presentation flawlessly? Do you use social media to your advantage? Do your clients experience something different and well above average when they work with you? How bad do you want to win your real estate business "Pinewood Derby?" Bad enough to be the best?

Your Partner in Greater Success,

Bill Zimmerman

939-0002

P.S. - Here's the latest "Talking Points of Interest" video on current rates and market conditions: http://www.youtube.com/watch?v=a9J34lJmaxg Enjoy!

Bill Zimmerman's Weekly Tip - Are You a good NAR Stat? (part 2 of 2)

2011-03-28T12:59:00.000-07:00

Last week I shared some sobering stats from the NAR 2010 report that show just how much improvement is still needed for many real estate agents to realize higher referral and client retention rates. This week let's focus on the positive and even pat yourself on the back a little...

From pg. 6 of the NAR 2010 Profile of Home Buyers and Sellers:

Real estate agents were viewed as a very useful information source by 81 percent of buyers who used an agent while searching for a home.
Eighty-eight percent of sellers were assisted by a real estate agent when selling their home
Recent sellers typically sold their homes for 96 percent of the listing price
The share of home sellers who sold their home without the assistance of a real estate agent was 9 percent. Half of them knew the buyer prior to home purchase.
So, all in all, buyers and sellers have positive experiences working with agents like YOU. Congrats!

I wish the same could be said of the financing experience... Here's what the same report (same page) said about financing the home purchase:

Ninety-one percent of home buyers financed their recent home
More than one-quarter of first-time buyers reported their mortgage application and approval process was somewhat more difficult than they expected and 14 percent reported it was much more difficuly than expected.
Granted, the negative bullet point I pulled out of the report is from first-time homebuyers - the least experienced of all buyers. However, regardless there's obviously room for improvement in the financing process. Perception is reality!

On that note, let me reiterate my value proposition and what I deliver for you and your clients.

First, there really are many advantages to doing business with me, including the simple fact that I get the job done right, exactly as promised, and on time. In fact, if I don't close your transaction on time, I pay for it (literally!) with a $100 gift certificate to your client to the store of their choice. Plus, if you're not satisfied with my service I'll also donate $150 to the charity of your choice. I put my money where my mouth is...

Second, my Realtor Communication System keeps you and the listing agent in the loop with faxes and emails for every important step of the way throughout the loan process (i.e. when the appraisal is ordered and received, loan approval, docs to title, etc.)

Third, I offer nearly all available mortgage products, plus some unique ones, too: Conventional, Homepath/Homesteps, FHA, 203(k) renovation, VA, RD, IHFA (Conventional and RD only), construction loans, one-time close construction-perm, asset-based financing (for those with great credit and lots of liquid savings but not enough verifiable income).

Fourth, when you close through Summit your transaction will always table-fund (same-day signing and fundings/recordings nearly every time!)

I appreciate the referrals, from those of you who've referred and worked with me. Thank you. For those of you still on the fence, try me out on your next transaction. You'll be glad you did!

Your Partner in Greater Success,

Bill Zimmerman

www.ForIdahoRealtors.com

Bill Zimmerman's Weekly Tip - Are You a NAR Stat? (part 1 of 2)

2011-03-21T14:26:00.000-07:00

I told you it would make it... Spring's finally here! At least, that's what my calendar told me yesterday. Now for the evidence...

What a wild, wild mortgage bond market we're experiencing these days. There's so much news, both negative and positive, that the markets don't know how to react, so we're getting huge price swings on a day-to-day (even a few times a day) basis. Check out the latest here: http://www.youtube.com/watch?v=gXwz7fa5unM

Last week, I read through the 2010 NAR report, as I'm sure many of you did, too. Very interesting... In fact, that part I found most relevant (pg. 7 of the report) to what I'm trying to teach you through The Pinnacle Club were these points:

Among recent sellers who used a real estate agent, 83% reported they would definitely or probably use that agent again.
41% of sellers who used a real estate agent found them through a referral from friends or family. 23% used the agent they worked with previously.
Anybody else seeing a disconnect here??? These are very similar statistic year after year after year. Where'd the other 60% of the people go who said they'd probably or, even worse, definitely return to use YOU again? There's a lot of missing business represented between 83% and 23%!

So, that begs the question, what are YOU doing to build a trusting, long-lasting relationship with your sellers (and buyers) so they can't forget about you when the time comes to buy or sell. What process or system do you have in place to ensure they'll come back to you in 3, 5, 7, or 10 years?

Think about it for a few minutes. In fact, take a few days to consider it... I'm going to leave this question unanswered for the next week - just to give you enough time to analyze your own business practices and where you might be able to improve in past client service.

To be continued...

Your Partner in Greater Success,

Bill Zimmerman

Bill Zimmerman's Weekly Tip - WARNING: Sitting on the Fence Can Be Painful...

2011-02-28T14:04:00.000-08:00

A few years ago, we loaded up in our BMW (Big Mormon Wagon - i.e. Suburban...) and headed off to visit family in the country. The kids loved spending time outside playing with the animals, watching the horses run and taking in the distant mountain scenery from their perch on the top rail of a rough-hewn wooden corral fence.

Pretty soon, one of my sons came in the house just crying his eyes out and tenderly holding his right bumcheek. Thankfully, he brought a translator (an older sibling) with him who proceeded to tell us his younger brother had chosen to stay on the fence and slide around while sitting there instead of getting down to play at the encouragement of his siblings.

Well... let'e just say that splinters are non-discriminatory in their targets... After carefully examining the wounded cheek, Stephanie delicately removed a 3-inch long splinter and bandaged him up. Needless to say, that particular son is much more careful now to avoid sitting on fences for too long!

Buyers can be just like a child sitting (and wiggling a bit too much) on a wooden fence. If they stay there too long before deciding to jump in and buy a house, they'll feel the pain of higher interest rates and payments and/or higher prices, as well.

Housing affordability indexes are better now than they were back in the '70's - the last time we saw them at these levels. Motivate them by reminding them just how quickly rates can rise (we just saw this winter a 1% rise in a 6-week period, for example...) and make the affordability of a home that much more difficult to swallow.

If you need help illustrating that, please email me and I'll send you some graphs and charts for your buyer's presentations that illustrate exactly why NOW is the time to buy and just how risky waiting can be.

I look forward to working with you and your clients!

Your Partner in Greater Success,

Bill Zimmerman

939-0002

P.S. Enjoy this week's "Talking Points of Interest" video here: http://www.youtube.com/watch?v=RkqR61xiPrA

Bill Zimmerman's Weekly Tip - When You Interrupt Me, What Are You Telling Me?

2011-02-22T12:02:00.000-08:00

Today's tip is short and sweet. It's provided, with permission, by business and sales consultant extraordinaire, Wes Zimmerman. The basics of common courtesy and politeness really do matter in life and in sales...

When you interrupt me, what are you telling me?

I was in the passenger seat, the driver was in mid sentence, I loudly said STOP, a car brushed the front bumper coming through the red light. I had prevented us from being T-Boned.

"How did you see him?"

"I was looking at you as you spoke and saw the car coming right at us."

"Boy, am I glad you were interested in what I was saying."

That is the only type of situation when interrupting someone speaking is permissible.

What two facts did I communicate to him?

The first is obvious, the second was just as important, it gave me greater credibility as our business relationship went forward. What was it?

When you interrupt me in mid sentence or mid paragraph for any other reason you have told meThat you were not listening to me
1. That what I was saying is not worth saying
2. That you are more important than I am
3.That what you have to say is more important than what I have to say

All of the above thoughts and perceptions form in my mind when you interrupt me. I feel insulted, put down, and if it happens repeatedly, I cross you off my list of desirable people to be associated with. You have lost the sale, the chance of learning from me and all hope of me referring people to you.

Is it worth the five or ten seconds you have saved by interrupting me so you can force your thoughts on me?

To me, interrupting is the single most discourteous thing you can do.

There are times when it must be done thoughtfully. One of those is when you are moderating a discussion and a person is so enthusiastically participating that she/he unknowingly dominates the conversation; then you interrupt as courteously as possible.

Otherwise, do not interrupt lest you communicate to others that you are a self-centered boob!

Nuff Said !!!

Wes Zimmerman
Email: wes@7one.com

Your Partner in Greater Success,

Bill Zimmerman

www.ForIdahoRealtors.com - sign up for Free real estate sales and marketing mastery newsletters, mastermind sessions, email tips, and more...

Bill Zimmerman's Weekly Tip - What's a HECM?

2011-02-14T13:58:00.000-08:00

Today let's focus a little attention on HECM's (or, better known as reverse mortgages). I predict that reverse mortgages will become an increasingly important retirement tool over the next twenty years. There's always a lot of confusion out there regarding this retirement tool (yes, it's a retirement tool rather than a mortgage!) that can't help but become more popular as baby-boomers retire with lower retirement funds than they had hoped to have.

A HECM allows a homeowner to eliminate their current mortgage and access 50 -70% of their equity with no monthly mortgage payments for as long as they live in their home as TAX-FREE monthly cash flow or as a lump sum payment. In fact, there's even a choice between receiving it as a fixed monthly payment or as a line of credit with more flexible accessibility.

Of course, I understand the importance of counseling carefully with a propective HECM client. They need to feel completely comfortable with a decision of this magnitude and I respect that.

The first thing I do when discussing HECM's is to clear up a few of the most common myths:

1) When I die my home will be owned by the bank/lender. FALSE Actually, the home (and any net proceeds from selling it) would go to the heirs. In fact, if there is more owed on the mortgage than it's worth, FHA covers all losses through their mortgage insurance program.

2) I won't be able to qualify because of my low income. FALSE Reverse mortgages are NOT based on your income. The only qualifying criteria are your age (62 and older) and the existing equity in your home.

3) I can't increase my income with a monthly HECM payment because I'll lose my Social Security eligibility. FALSE Social Security and Medicare benefits are unaffected. However, needs-based services, such as SSI and Medicaid my be affected... (visit with your benefits advisor)

Although there are more fine details involved, these are the main points. If you know someone who may benefit from a HECM, please allow me the privilege to answer their questions and help clear up any misconceptions that might exist about this important tool.

Have a great week and feel free to call anytime.

Your Partner in Greater Success,

Bill Zimmerman

939-0002

P.S. - Here's this week's "Talking Points of Interest" video: http://www.youtube.com/watch?v=7uvwoUHR53E

Bill Zimmerman's Weekly Tip - "Thanks for your help, but I think I'll just wait until prices drop later in the year..."

2011-02-07T15:27:00.000-08:00

I'm guessing when you read the subject line for today's tip you probably felt your stomach churn a little, huh?? In my conversations with many of you over the past few months this seems to be a recurring theme you're facing with quite a few buyers. Not fun...

Here's how it generally goes: You spend hours looking on and off-line for homes you're just sure your buyers will like and then, WHAMMO! They nail you with the "I think I'll just wait 'till summer or fall when prices are lower" line. Am I right or am I right?!!?

Well, that might make sense if your buyer is a CASH buyer. However, if, like most home buyers, they don't have $100k+ burning a hole in their pocket and they're going to need a MORTGAGE.

So, to respond to that objection you need to do a little math and write it out in plain English for your buyers on a napkin (preferrably unused...).

Here's the scenario you'd ask your buyers to answer:

Would you pay more over the next 30 years for a home bought today with a $150,000 mortgage at 5% interest

OR

the same home if you buy later in the year that's dropped in price by 5% ($7500) - a $142,500 mortgage at 6% interest?

Based on the current trajectory of rates and home prices this is a very likely scenario. Of course, prices might not drop that far and rates could be higher than 6% (who knows??)...

The first step is to find a mortgage calculator that includes an amortization schedule (of course, you're welcome to use the one on my website under "Resources and Tools" at www.zimmermanloans.com) and solve for the principal and interest payment for each scenario. In this case, the payment is $805 for the $150,000 mortgage at 5% and $854 for a $142,500 mortgage at 6%.

Then simply refer to the total interest paid on the amortization schedule to show your client the risk of waiting and how much more they might be paying in interest over the life of their loan.

In my example above, waiting for the price to drop while interest rates rise would cost the buyer an extra $25,184 in interest paid over 30 years - even though they bought the house at a lower price!

As you play with the calculator, you'll notice this example doesn't work in all situations. The narrower the spread between interest rates and the lower the loan amount the higher the likelihood this example won't work out. So, be a little careful and test your scenario out before sharing it with your buyer.

My hope is that this gives you one more tool to motivate your indecisive buyers to action. As you well know, there is no better time to buy a house than NOW!! (especially if you need a mortgage to do it)

Your Partner in Greater Success,

Bill Zimmerman

www.ForIdahoRealtors.com

Bill Zimmerman's Weekly Tip - Delegate or Die

2011-01-24T15:40:00.000-08:00

Whew! It's been a Monday! It feels like the ice may actually be beginning to thaw over real estate. I hope you're all beginning to see green shoots of increased interest from buyers out there. Let's hope it continues and turns into a good year.

Before we dive into today's tip, I've got a few things on a personal agenda to cover...

First, if I'm not around for a few days sometime in the next three weeks, it's not that I don't want to talk to you or your clients. It's because my wife's having a baby! She's due on Feb. 7 (theoretically...) so we could be heading to the hospital any day now. Exciting times!

Second, today's "Talking Points of Interest" video can be viewed here: http://www.youtube.com/watch?v=KrtwlMAfgQs Enjoy and profit from it!

Third, on another personal note, some of you may be aware of my creative outlet - songwriting. Well, my songwriting partner and I just completed our most recent song (pop/rock) called Shout It Out Loud which is now available to be licensed for commercial use through our own publishing company, ZimBob Music, LLC, or purchased as a download for personal use. You can take a listen here: http://www.facebook.com/pages/ZimBob-Music/116351888424941?v=app_2405167945 I'd love to hear your feedback and hope you enjoy it!

Today's business tip is a blog post written by Derek Sivers - a music business entrepreneur (the founder of CD Baby). This article is a great reminder of the importance of delegation, no matter how small a business you have. Each of us must get to the point where we know what our productive, working hours are worth (even down to the minute!) and then delegate those tasks that do not live up to our pre-determined worth. It can be difficult, but is necessary and definitely worth it! Delegate or die - the self-employed trap:
http://sivers.org/delegate

Your Partner in Greater Success,

Bill Zimmerman

www.ForIdahoRealtors.com