Paula Higman Real Estate

Wednesday, April 11, 2018

Social Media 101 – Social Media Quick start

Social Media Training for Beginners:

The Social Media Quick start offers the step-by-step instructions you need to start building your social media presence across all of the top social networks.

Click any of the links below to get started.

FREE HOME EVALUATION…$495 VALUE

Monday, April 9, 2018

Do you understand Loan-to-Value Ratio on a Mortgage....

Formulation:

Loan Amount ÷ Lessor of Appraised Value or Selling Price = Loan-to-Value Ration

Example:

You are purchase a home for $900,000 and approach a lender with a request to borrow $720,000. Then later the property appraises for the selling price and therefore establishes the property value at $900,000, and you want to know whether the property will qualify for the mortgage you're requesting.

$720,000 ÷ $990,000 = 80%

So what does an 80% LTV signify?

LTV signifies that the bank has an 80% equity position in your apartment property, and you have 20%. Whether it would be acceptable to the underwriters depends on the policies of the lender.

Good Rule of Thumb:

The real estate investor typically prefers to buy a rental property with as little cash down as possible. This is known as "leverage" because the investor is able to use more of the banks money to make the investment and thus leverage his or her investment. In some case, like with our example, the investor might not have a choice and might have to forsake leverage in order to make the acquisition.

Marketing strategies you may not have tried yet

If the old tactics to market your business aren’t working. It’s time you try some new strategies.

1. Offer an award for referrals

Oscar Wilde once said, “There is only one thing in life worse than being talked about, and that is not being talked about.”

With 74 percent of consumers reporting that word-of-mouth recommendations greatly influence their purchases, you need to build some chatter around your business.

How can you encourage referrals and endorsements?

Give an added incentive by offering discounts and deals to current customers who refer your business to friends and family.

2. Combine email and social

Email marketing is your most powerful tool for gaining and retaining customers.

While social media platforms make algorithm tweaks that limit the visibility of your posts, email marketing allows you to reach your customers directly in their inboxes.

Turn your social media followers into engaged email subscribers by sharing a link to your email sign-up form or sharing your Text-to-Join keyword on your various social media channels.

3. Run a contest

Contests are an easy way to encourage audience engagement.

Organize a photo contest or raffle where potential customers can win prizes.

Just make sure the prize is something your audience actually cares about.

In addition to a valuable prize, every good contest needs a clearly defined goal that benefits your business.

Increasing social media followers, getting visits to your store, and building your email lists are all worthwhile contest results, as long as you clearly decide the goal beforehand and measure your success.

Announce your contest through social media and an email blast for maximum participation.

4. Boost value with content

What’s in it for your customers?

That’s the question you should constantly consider when deciding on the best marketing strategies to use. If you aren’t offering something the customer wants, they won’t give your business a second thought.

Attract potential customers while positioning your business as an industry expert by writing and curating content. This may include articles, images, and videos that appeal to your target audience.

Here’s how Paula Higman brings value to her real estate audience through content in her email newsletter:

5. Join (and lead) the discussion

Find places where you can discuss your industry with potential customers and show your expertise. This can be in-person on panels or online on forums.

The more exposure you get, the more top-of-mind you’ll be for your audience. When they need your good or service, yours will be the first business they’ll think of.

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