With this change in buying habits, retailers have started to embrace more payment alternatives that allow their customers to purchase goods and services without using traditional forms of credit.
Perhaps the most popular option today is “buy now, pay later.”

What is Buy Now, Pay Later?
Buy now, pay later is a straightforward concept: customers are given the option while shopping online to purchase something now, but instead of paying full price up front, they pay later, typically with easy-to-manage installments.

It’s clear why the option to pay over-time is valuable to customers. Having the ability to break up the cost of purchases with no interest or fees, gives buyers a greater sense of confidence in making purchase decisions.

For retailers, the benefits are equally clear. Buy now, pay later lets them attract more customers that may have otherwise put off purchasing due to cash flow constraints or credit availability. Offering the option to pay over time has shown to result in higher conversion rates for retailers and increased order size.

Access – Buy Now, Pay Later for Real Estate
This emerging trend is now available to the real estate industry with the launch of Access by eCommission®, a unique payment option tailored around the timing of when agents earn their commissions.

Access enables agents to buy goods and services online from their favorite real estate vendors, but only pay for their purchases later using future commissions as an alternative to cash or credit cards. Access funds the order on behalf of the agent immediately and offers the convenience of up to 90 days free of charge to repay from their next closing.

How Access Works
The process of using Access is simple: An agent selects an item to purchase while shopping online, including such things as subscriptions, MLS dues, advertising, staging costs, lead generation services, lawn signs and so on, then prepares to checkout. At the point of sale where they would otherwise enter their credit card to pay, the agent is presented with the option to choose Access and pay when they close their next sale. This sets off an instant approval verification. Once finished, the agent is returned to the vendor’s site to complete their purchase – all within a matter of minutes.

Business Advantages of Offering Access
There are several benefits real estate vendors can gain through offering Access, including an ability to attract new customers by providing a flexible payment option tailored exclusively to the timing of when they get paid their commissions.

Responses from vendors involved in beta testing reported a 32% increase in average order values, and a 26% bump in conversion rates after introducing their customers to Access.

Happy Customers Buy More
Real estate agents, like everyday consumers, crave ease of use. The secret to the success of Access involves a simple API integration within the vendor’s point of sale that completes a risk assessment and finalizes the agent’s purchase instantly to create a truly frictionless experience. Presenting customers with the ability to get what they need today, but only pay later once they close a sale, means less time spent debating the purchase and more time buying.

Costs to Vendors and Agents
Similar to credit card issuers, Access charges vendors a 5% processing fee for completing the sale and transferring funds on the agent’s behalf to the vendor’s bank within one business day. Agents come out of pocket nothing to use Access and have up to 90 days free of charge to repay using commission proceeds from a future sale. If it takes longer than 90 days, the agent’s balance accrues a charge of 0.03% per day. Even if it took a year to close a sale, the equivalent APR is just 10.9% compared to the average credit card rate of 24.9% – making Access a more convenient, less expensive option for most agents than using traditional forms of credit.

Interested in offering Access as a payment alternative on your e-commerce real estate site?
Visit www.buynowpayatclosing.com to inquire on availability or contact:
Dawn Willey, VP of Strategic Business Development
Phone: (818) 254-6435
Email: dawn.willey@eCommission.com

The post Introducing The Real Estate Industry’s First Buy Now, Pay at Closing Solution — Access by eCommission appeared first on eCommission.

Many real estate agents don’t survive their first year, often because their own fears and doubts get the best of them. If you can make it through your first 12 months, all kinds of rewards await, including a rewarding, long-term career.

Keep these tips in mind as you grind through your first year:

Accept the reality of long hours
Not all prospective clients are going to be available to tour property when you want them to be. If you can accept this hard fact and train yourself to be flexible and open, it will reflect in your sales and your attitude. Your personal life may suffer, but keep your eyes on the prize- building a good reputation, and commissions!

Have goals
Don’t just ramble along and see where it goes. Have a definite goal in mind for your first six months and your first year, even if it’s modest. If you don’t achieve those goals, find out why and apply those solutions to your next goal. Goals will help motivate you to achieve, and to set higher ones.

Prioritize your time
As an agent, you are basically an independent contractor and your time is largely your own. Make that time work for you- and for your broker and clients. Emails, phone calls, texts and voicemails can be distracting and time consuming. Set time aside for them, as well as for cold calling, prospecting, open houses, and marketing. Make a priority list for each day and each week, according to which tasks will most efficiently help you achieve your larger goals.

Build your network
Make sure you have plenty of people you can contact for advice, guidance and even an ear to bend. Any trusted friend or relative will do, but also consider nurturing friendships with other agents, brokers, contractors, mortgage lenders, or anyone else in the business who may understand your anxiety as well as your hopes and dreams. Finding a mentor is even more rewarding.

Know your market
It’s not enough to be knowledgeable about the properties you’re gunning to buy and sell. Be the go-to expert for any information that needs to be known about your entire market. This includes demographics, points of interest, traffic and public transit directions, news and trends, average property prices, and even the best bars and restaurants nearby. Your clients will think of you as a thought leader and will recommend you with great respect.

Get online
There was a time when real estate marketing consisted of hanging up a “For Sale” sign and placing a classified ad in a newspaper. No longer the case anymore. Today, in order to get your sales in-line, you have to get online. Use social media -especially Facebook Live and Instagram– to reach your potential buyers and sellers, and to promote your own real estate career.

Have a side hustle
You may not see your first commission for months. Thankfully, you have eCommission once the amounts start rolling in, but until then, you may want to keep your day job (or get a night job or part-time gig). Strive to have at least six months of income saved.

Never stop learning
The real estate business is evolving like it never has before. Make sure you are up on all the trends, predictions and analytics. Also familiarize yourself with the latest real estate technology (apps, websites, and smart devices). If you don’t know, don’t be afraid to ask, and find out the answers from those who do. Subscribe to industry periodicals and websites (and read them regularly). Join and participate in industry organizations.

Keep a positive attitude
Yep, it’s easier said than done. Remember that Rome wasn’t built in a day. Focus more on what could go right instead of what could go wrong.

Hard work pays off
What more needs to be said?

Remember that your first year is not only about surviving, but learning how to thrive and build a long-term business. It’s all in your attitude and work habits.

Click here to learn more about how eCommission can help you survive in your first year and onward.

The post Surviving Your First Year in Real Estate appeared first on eCommission.

Mold is never okay with potential buyers or with the bank. Needless to say, if you’re helping your client sell a house, the mold problem should be resolved before any further steps are taken. Otherwise, you’ll need to disclose the issue or open yourself up to a lawsuit by the new owner. To avoid this: have the mold removed, and then test for any remaining or lingering presence.

Mold testing kits are available, but it’s always best to contact a mold specialist for a professional evaluation and service (make sure to get the owner’s permission first).

Mold types number in the thousands, but here are a few of the most common:

Penicillium: can be found in the dust of HVAC systems, as well as in soil, and food that has gone bad. It can cause sickness.
Cladosporium: can be detected as a dark powder, typically growing on food, paint and fiberglass air ducts. This is the kind of mold that can cause asthma and skin rashes.
Mucor: often found in animal droppings, as well as soil and common house dust. Not good for people with weak immune systems.
Memnoniella: found in wood products, as well as cotton and paper. Can harm animals as well as people.
Stachybotrys: possibly the nastiest of all molds, often referred to as toxic black mold. It’s believed to be the cause of certain cancers, as well as asthma and headaches. Often found behind walls and in ceilings.

Take to heart: mold may never be able to be completely eliminated from the property, but there are steps that can be taken to control the amount of mold present. The best way to control mold is to control moisture. Discuss this checklist with your clients:

• Keep the humidity levels low.
• Use an air conditioner or dehumidifier in the warmer weather
• Make sure the property is correctly ventilated.
• Consider exhaust fans.
• Add mold inhibitors to paint.
• Clean bathrooms with products that contain mold killers.
• Never carpet bathrooms and basements.
• Remove any mildewed carpet, furniture or upholstery.

The jury is still out on whether duct cleaning actually can prevent health problems. Much of the dirt in air ducts attach to the duct surfaces and do not necessarily enter the living space. Pollutants also enter the home from outdoors, as well as from simple indoor living, such as cooking or showering.

In addition, a light amount of typical household dust does not necessarily mean a mold problem or a health threat. However, duct cleaning is recommended if you see substantial mold growth on the duct system (including HVAC), if the ducts are infested with vermin, and if there is a substantial amount of dirt and dust in the ducts.

Share the publication below with your clients, created by the Environmental Protection Agency. It provides information and guidance for homeowners and renters on how to clean up residential mold problems and how to prevent mold growth.

                                              “A Brief Guide to Mold, Moisture, and Your Home“

Click here to discover how eCommission can help you keep your cash flow strong and steady.

The post When Selling a House with Mold appeared first on eCommission.

One of the most important attributes of a successful agent, however, is the ability to bounce back from a client loss. Even when it comes at the worst possible time.

Here are some tips on how to pick yourself up and get back into the real estate game after a tough loss.

It’s not necessarily your fault
It’s important to always remember that there are two people involved in an agent-client relationship. When a client walks, it’s not necessarily because it was anything wrong that you did. In some cases, it’s just the matter of a flaky or indecisive client.

In some instances, the client may be frustrated and blame you for a situation that you have little control over. For example, they may be disappointed by the quality of available homes in their price range. Or they may be convinced, despite all evidence to the contrary, that they can sell their home for much more than it’s worth.

A learning opportunity
Learn from every failure. Take advantage of it as an opportunity to become an even better agent. What mistakes led to the departure of the client? What could you have done differently to prevent the loss? In some cases, maybe the lesson will simply be to stay away from clients who exhibit certain types of behavior or are looking for something that you know you can’t help them find.

You career is long
Think about it, the most recent failure in the grand scheme of things. It may sting now, but how will you describe it a year from now? Or five years from now? Or when you’re retired? It was a commission you wished you could have had, but other opportunities will come your way if you stay dedicated.

Talk to a mentor
Getting past disappointments is one of the many reasons you should have a mentor in the industry. Talk with them about what happened and they will likely be able to both reassure you with similar stories from their own career as well as give you productive advice on how to remedy the situation.

Stop dwelling on it
Acknowledging mistakes is healthy. Fixating on them is not. Spend a few minutes analyzing what went wrong and try to think of how to avoid a similar situation in the future. After you’ve done that, try your best to stop thinking about it.

Stay busy
The best cure for the doldrums is to find something productive to do. Jump back into work. Not only does that give you something to do besides think about the loss, but working is the only way you’ll get out of the rut.

Click here to discover how eCommission can help you maintain and strengthen your cash flow.

The post Ways to Bounce Back from a Client Loss appeared first on eCommission.

The bottom line: follow the rules, which vary from state to state, and sometimes even from city to city. They’re put in place so that evictions cannot happen on a whim. In just about every eviction case, a court order must be obtained, after the appropriate notice (or notices) have been issued. In other words, an eviction can only happen for very specific reasons and within a specific amount of time.

The main reasons to start the eviction process:

No payment of rent
This seems to be the most obvious and common reason, but there is still a dance that needs to be performed before eviction can happen. A Pay or Quit Notice must be sent to the tenant, which starts your paper process. The amount of time it takes to evict from that first notice depends on the state. Check your local laws.

Violation of lease terms
Perhaps the tenants are using the property as an unauthorized Airbnb location, or dealing drugs, or keeping pets when the lease specifies otherwise. A Cure or Quit Notice must be sent to them, specifying that they are in clear violation of the lease, and must stop within a certain period of time. If they don’t, the eviction proceedings can begin, according to the laws of your state.

An Unconditional Quit Notice differs from a Cure or Quit Notice in that it does not give the tenant a chance to correct their actions or remedy the issue. This notice means: get out now. It could be issued if the tenant’s behavior could be in violation of the law or the source of immediate danger to other tenants Examples include drug or gang-related activity.

The tenant may not go quietly. He or she may decide to defend themselves in court, which could add a great deal of time to the process. This is why the property owner’s paperwork and paper trail must be detailed, organized, specific and correct. The tenant may claim that mistakes were made, or that the landlord had failed to deliver on certain promises specified in the lease. Advise your client to have all their ducks in a row when it comes to keeping records and covering their tracks.

If the suit is won by the landlord, a judgment for possession of the property and/or unpaid rent will be issued. Remember that this does not mean that the tenant and his possessions can be dumped on the sidewalk. Locking out or freezing out a tenant is illegal. In most states, there are removal and storage procedures to obey. In many cases, a local law enforcement officer (usually a sheriff or marshall) handles the physical aspects of the removal, at a cost to the landlord. Check your local laws.

You may want to remind your clients that real estate agents can help minimize the risk of tenant eviction by finding higher-quality tenants. Here’s how:

• Real estate agents can cover the entire rental process, from showings to screenings and from negotiations to lease signings. This amounts to less hassle and distraction for the landlord.
• Agents have access to the MLS system, and can share the listing with other agents.
• Agents can prevent the terms and conditions of the lease from being unnecessarily modified.
• Agents are familiar with the market and the most competitive leasing rates.
• Agents can market the property at no initial cost to the landlord.

Click here to discover how eCommission can help you maintain and strengthen your cash flow.

The post The Eviction Process Basics appeared first on eCommission.

A home inspection should not be left to the buyer or seller alone, who may not know the red flags that may arise or which questions to ask.

Many real estate deals get broken because of some kind of issue that was brought up during a home inspection. Since it’s the agent’s job to advocate and negotiate on behalf of their clients, being at an inspection will help move that process along. If the agent isn’t there, the inspection results come second-hand, and can often become misunderstood or felt to be incomplete.

Because most buyers and sellers — especially first-time buyers and sellers — don’t have an extensive knowledge of the real estate process, an agent’s presence during a home inspection will help with explaining information, findings and issues.

Of course, a home inspection is supposed to be neutral; not influenced or altered by anyone. But due to human nature, buyers could exaggerate flaws and issues, and sellers could insist that certain problems are not worth reporting. A professional agent’s presence can help keep emotions from getting out of hand. An agent may also know when to ask the home inspector for clarification and how certain issues may compare to other homes nearby.

An agent can also review the written inspection report, which is generated soon after. During this review, information can be confirmed or questioned, especially if an issue seems exaggerated, false or not well communicated. Does the written report clearly convey what was seen and discussed during the inspection? Astoundingly, this is not always the case, and it deserves follow up.

Like any other type of education or experience, the more home inspections an agent attends, the easier it will be to interpret and understand them for the client’s benefit.

In any business deal, every party wants certain things, and home inspections are no different. However, a true professional will keep in mind (and remind everyone involved) that a reputable inspection — revealing all flaws and issues — will result in a factual, well-communicated understanding of the property. This should ultimately benefit everyone involved. Remind your client that no home is perfect.

With time, an agent will come to know the makings of a good, professional home inspector. These qualities include good communication and writing skills, accuracy, consistency (in both the inspection and the written report), lack of exaggeration, timely delivery of the report, and a thorough, clear-eyed inspection. At the same time, a professional real estate agent will let the home inspector do the proper job, without interruption, distraction or bullying.

The sales process does not end at the home inspection stage. Entire negotiations could begin anew as a result of a challenged inspection. An agent being there during the process will show clients that they are receiving a value-added service from a professional who truly cares.

Click here to discover how eCommission can help you gain control of your cash flow.

The post What Agents Should Know About Home Inspections appeared first on eCommission.

Here are five ways to effectively market a fixer upper:

Focus on the positive
Not all fixer-uppers have faces that only a mother would love. If you look objectively, you’ll find features that are worth bragging about. It could even involve the property’s history (which could be interesting) or its great bones. Also, look to the future: share your vision of how the house can ultimately look and how it could serve the owner once it’s fixed up.

Be transparent
Be upfront about any flaws the house may have; don’t try to hide them or gloss over them. A home inspection will only bring those flaws to life and make you look dishonest. If you know how those flaws can be fixed, make suggestions, or refer to an expert. Being transparent will continue to solidify your good reputation.

Put in some elbow grease
Buyers may understand that a fixer-upper may not look incredible at first sight, but that shouldn’t stop you from doing all you can to bring it to its best condition. Make sure the kitchen and bathrooms are sparkling clean, wash the windows and the floors, and sweep away dust. Remove debris from the house and the yard. Keep the rooms free of old, unflattering furniture; in fact, the less furniture and decor, the better, so that the client can imagine the house of the future with as little distraction as possible.

Make sure the price is right
Be real about the selling price. Talk to the sellers about a price that will make sense to prospective buyers. Consider the cons (perhaps structural problems or wiring) as well as the pros (for instance, the amount of land surrounding the property, or hardwood floors), and work from the middle. The house’s final result may be amazing, but you have to sell from where it’s at right now. An attractive price will make the property prettier.

Search for the right words
When advertising the property, don’t embellish or exaggerate. Instead, use strong descriptions that will arouse interest from prospective buyers who already realize it’s a fixer-upper. If a house has hardwood floors, say so, and mention the type of wood. If the kitchen has potential for cooking connoisseurs, let them know. Name the type of trees that are surrounding the property. Mention the property’s potential.

Click here to discover how eCommission can help you gain control of your cash flow.

The post 5 Ways to Market a Fixer-Upper appeared first on eCommission.

It can hurt your credit rating
Often what identity thieves do is use a fake identity to buy things that they never actually pay for. That can leave a mark on your credit report, making it harder for you to get a loan or buy a home or a car. Or rather, it will make doing all of those things more expensive because you will be charged a higher interest rate for somebody else’s unpaid bills!

Trouble with the taxman
One of the most valuable pieces of information somebody can steal from you is your social security number. That can be sold to somebody who does not have legal status to work in the country or who otherwise wants to hide their identity from their employer. Of course, if that person doesn’t pay taxes, you might find the IRS breathing down your neck to explain this other mysterious source of income that you knew nothing about.

End up with a criminal record
Those who are involved in crime may use a fake identity when they are arrested. When they’re released, they can change their identity and avoid having the criminal record follow them. However, if it’s your name and social security number that the police have on file, it appears that it’s you who committed the crime. It can take a lot of effort to get that mistake corrected, and perhaps not before your career has suffered as a result.

Lots and lots of wasted time
When you’re a REALTOR®, time is money. You spend your days responding to clients and trying to hunt down new ones. But that naturally takes a backseat when you realize that your identity has been stolen. At that point your number one priority is to do whatever it takes to minimize the damage of the theft. All the time that takes (and it can vary considerably) will come at the expense of your business.

So, what can you do to prevent it?

Take passwords seriously
Stop being lazy about your passwords. Try to use different ones for different accounts and don’t make them predictable. Use a combination of letters, symbols and numbers. Try to avoid using information that could likely be gleaned about you online, such as your name, the names of family members or pets, your birthday, your favorite sports team etc.

Watch out for “phishing” emails and social media posts
One of the most common ways to hack somebody is to get them to click on a link that causes a virus. Hackers will use fake profiles to send you emails or private message on social media sites, such as Facebook or Twitter, inviting you to click on a link. Oftentimes the message will come from somebody you know who has already been hacked. So if your friend sends you a message telling you to click on a link, make sure they really sent it before you click on it.

Good anti-virus software
For PC owners, download some solid anti-virus software that will alert you to websites that are suspicious and notify you of potentially suspicious programs. Check out a respected computer resource to make an educated choice on the matter. Beware of scams marketing themselves as free anti-virus programs; many of them are just viruses themselves!

Click here to discover how eCommission can help you gain control of your cash flow.

The post Identity theft is no joking matter for REALTORS® appeared first on eCommission.

Don’t disappear after the deal is done
Once you’ve cashed your commission check and had a celebratory glass of champagne, drop your client a line and ask them how they’re doing. How’s the move going? Is there anything you can help with? Remember, you’re very likely the only housing expert they know, so they’ll be thankful for any tips you can give them on home renovations, repairs, etc. They’re likely under a lot of stress and would appreciate some continued support!

Ask them for references
If they’re satisfied with your service, there’s no reason they wouldn’t want to refer a friend to you. However, that might not occur to them unless you remind them. Emphasize at the end of your dealing with a client that you’d appreciate any business they could send your way. Some clients will take that very seriously and will jump at the opportunity to help you out. Others may need a friendly reminder from time to time.

Ask for reviews
As is the case with references, most satisfied customers would be delighted to provide you a rave review on Yelp, Zillow, Trulia or Google. But they probably won’t think of doing it until you ask. In addition to reviews, getting testimonials from customers (ideally next to a photo of them and their home) to put on your website or social media pages is a great way to sell yourself to those in search of an agent.

Give them the best of the best service
This is obvious, but some agents forget the importance of customer service in their rush to expand business. Competence is not good enough to achieve full customer satisfaction.

Finding them a dream home or fetching a good price on their house won’t necessarily lead them to conclude you’re the person who their friend needs to hire. What will convince them of that is the “little extra” you offer by showing that you care about them and making the otherwise stressful process as pleasant as possible.

Stay in touch for the long-term
What may have been a close relationship with a customer shortly after the deal will naturally fade away unless you make an effort to stay in their life. Classic tactics, including Christmas cards and invitations to events, are still a good bet for staying in touch. But cell phones, email and social media also offer lots of low-maintenance ways to maintain a relationship. Sharing a joke or interesting news about the city via text or email is a good way to ensure that you’ll stay on their radar.

Click here to discover how eCommission can help you gain control of your cash flow.

The post How to Get Your Best Customers to Sell For You appeared first on eCommission.

Most costs are not so much hidden as they are overlooked.

Keep this checklist handy when coaching new homeowners:

Money needed at closing
Many newbies think that the only cash they’ll need is a random closing fee. Break it down for your clients so that they can see it in estimated form. They’ll need to pay for title insurance, escrow and appraisal fees, and most likely the first year’s worth of real estate taxes and homeowner insurance.

Home inspection
Encourage your client to get a home inspector to examine the property closely. Any flaw or issue can be negotiated with the seller; otherwise, the buyer will have to pay for the repairs. Home inspections average between $200-$600, and that’s usually upfront, out-of-pocket, and nonrefundable.

Latent defects
Expensive repairs can result from flaws in the structure of the house, which may not be discovered until certain times of the year or the first major storm. Inadequate waterproofing will cause many degrees of damage, from leaks to flooding and warping. The wiring may need to be reexamined, or the HVAC systems could be faulty – you may not turn on your air conditioning or heating until months after you move in.

Start a maintenance and repair fund
Naturally, a house is going to experience all sorts of mishaps and breakdowns during the course of its life. Advise your clients to start an emergency fund for maintenance and repairs, which can literally come in handy on a rainy day (if your roof is leaking).

Interest rates are known to rise over time
Make sure your clients realize that any economic forecasts are speculative at best. Interest rates can increase at any time going forward, as can mortgages that are not fixed-rate. The best advice you can give: live within your means, and save for a rainy day.

Utility bills will most likely increase
Gas, electric and water bills will rise during the life of your house, and at any time. Advise your clients to expect it.

You usually don’t have to pay a real estate agent unless you are the seller
In most cases, the commission is paid for by the seller.

Click here to discover how eCommission can help you gain control of your cash flow.

The post Educating First-Time Homeowners on Expenses appeared first on eCommission.