Coach Patti's Blog

Someone will spread the word – shouldn't it be you? I'm talking about the new economic stimulus tax credit that is waiting like a plum ready to pick beginning March 26, 2009. It's ripe and ready to be enjoyed by first time homebuyers, but this plum is also good news for just about everyone in real estateFirst, what are the essentials of the stimulus package's credit? Here are the basics I've gathered from various news sources:

• Up to $8,000 refundable tax credit if you buy (settle on) a home between March 26 and December 31, 2009.
• You must be a first time homebuyer, BUT if you have not owned a home in the past three years, you qualify as that first time homebuyer.
• You have to use the home you buy as your principal residence, not a second home or investment property.

Now for a few explanations:

• "Refundable" means that the credit is deducted from whatever you owe on your Federal tax return for 2009 (the one you file in April, 2010.) If you owe less than $8,000, the difference is refunded. For example, if you owe Uncle Sam $6,200 before the credit, IRS will send you a refund check of $1,800 after applying that credit.
• You don't have to file any special forms or papers now to get the credit – you'll do that when you file your tax return next year.
• There is a limit on the amount of the credit if your Modified Adjusted Gross Income is more than $75,000 for single taxpayers or $150,000 for married couples. Above those limits there are some partial credits available. The tax forms for 2009 will probably explain what to do about the limits, but you should consider consulting a tax professional like a CPA or Enrolled Agent.
• You do not have to repay the credit in the future unless you sell that house before you live in it for three years. In that case the full credit will be taken back at settlement.

The big question is, what does this mean for your business in real estate, and why should you be excited about it?

Suppose you know a young person or couple who want to buy a house but have been holding back. They are thinking, "We can't buy a home now, we'll have to wait." You can now say, "Maybe you can. Let's take a look at it now with an extra $8,000!"
 
I can tell you for sure that this makes a difference right in my own family. Three years ago my son sold his home and has been renting since. He thought he would just wait a few years before buying again, but this new tax credit has changed his perspective. With $8,000 credit, he's gone from thinking, "I can't," to "I can!"
 
Here's a great opportunity for you as the professional to remind people that all the elements are in place for them to take advantage of this credit. There is plenty of inventory, as we know. Mortgage money is cheap. And now the government will help you buy. Maybe the person you are talking with doesn't plan to buy a house, but what if they have a child or sibling in the market?
 
Whether you think the stimulus plan is good for the economy or not, it is here. Why not take full advantage of what it offers so that you can help your clients and your business? Talk it up. Get people thinking positively about possibilities. The only way you're going to change your economy is find the opportunities today and take then to the people who can use them.
 
Ready to ride? Go spread the word!
 

Patti Kouri, Accelerated Performance Coaching
Helping You Through Self-Made Limitations! 
 
Will you Take My Challenge and increase your income?
Play The Real Estate Game®
 

Have you ever watched a really good sales professional at work, and wondered how he or she did it? Your reaction might be, "I could never do that." But you would be wrong! The top sales people did not suddenly appear as adult professionals. They all started somewhere, they learned their trade, and they learned one vital lesson: sales success is based in your beliefs.

When someone has negative thoughts, their vision of the world comes true. But when someone has positive thoughts, that vision also comes true. How can that be? The world is the world, right?

Yes and no. I'm not about to tell you that you can change a rock into gold by thinking positive thoughts about that rock. But I am saying that much of your reality is created by what and how you think. The most important point is that what you think, and what attitude you bring to the world, are your choice. This is one of the most important things you will ever learn, and something I stress for those who participate in The Real Estate Game.

I've heard that we have about 80,000 thoughts a day. For some people, up to 90% of them are negative thoughts. You know what that sounds like in your head, don't you? "The market is bad." "People aren't buying these days." "Mortgages are just about impossible to find." I'm pretty sure that those statements will be true if you believe them and repeat them often enough!

Now what do you suppose would happen if you tried on a new mind set? "A market like this gives me a chance to innovate." "There are always people who will buy the house that's right for them; now I get to practice making those matches." "Mortgage brokers are a great source of information and can help me qualify buyers so they get approved." These are also true.

Think of a day when someone did something very nice and completely unexpected for you. How did you feel? Did the day seem brighter, was there a spring in your step? But really, the sky wasn't any different, was it? Your knees didn't suddenly become 10 years younger, did they? What changed was your attitude, your way of thinking, even if only for a short time. Now take that small illustration and magnify it. What if you could carry that feeling through a day or a week? People you met would see your positive approach to life, and would want to be near you, would want to work with you.

In selling, recognize that what you think is your reality and what your clients think is their reality. A successful salesperson remembers this and finds out what the client's reality is so that they can speak to that point of view. We must find out what our prospect's point of view is in order to influence them. Ask questions and then really listen. Look for answers that are spoken but also the ones that are between the lines, that are hidden in body language and facial expression, that are there in the tone of voice. You will learn what their reality looks like. With that knowledge you can speak to their wants and needs, and you can close the sale.

Now a bit of "homework" to help you get just a taste of the power of changing your beliefs. The next time someone asks the standard, "How are you?" don't respond with the usual, "Fine, thanks. How are you?" Let your response be, "I'm terrific! Isn't this a great day?"

Let me know how it goes.

Patti Kouri, Accelerated Performance Coaching
Helping You Through Self-Made Limitations! 

Will you Take My Challenge and increase your income?
Play The Real Estate Game®

It's about this time each year that some people start slipping away from the goals they made. The focus has become fuzzy, and other things have come along to distract them from visualizing their goals clearly. The gym where they signed up and vowed to go work out five days a week? Well, they've been busy, the weather's been bad, and they haven't been there in a while. The Realtor who was going to devote a portion of every day to prospecting? Well, life's been crazy lately and it hasn't worked out that way, but really, they plan to get back to it…soon.

That good old comfort zone has claimed another one. But there's still time to get back in the game, to refocus on the goals, and get on with reaching them.  

I'm lucky that I live where there's great weather, so I don't have that excuse for one of my goals this year. I'm playing golf at least once or twice a week with people MUCH better then me. I love the competition; it makes me want to be and do better. Playing with golfers who make me stretch also creates the motivation to go out and hit balls and practice, so the next time I'm out with them, I can be better. And it's working – I can see and feel the difference, and my score shows it.

So you've set your goals. You know where you want to be and how to get there. Now it's time to re-focus on your goals and believe you can achieve them; after all, if some did it before, so can you.

It sounds simple – do the actions that align with your goals and you'll reach your objective. We all know it's not always easy, though, as life is filled with distractions. One thing that helps many people is to ask for and get support from someone who will help you but also keep you accountable. If you agree to walk every day with a friend you're less likely to skip that day when the weather isn't perfect. When you make a pact to change how you eat, checking in with someone who cares about you and your health will help keep you on track. And when you commit to playing The Real Estate Game, it's great if you have someone to support you and celebrate with as you go through the month.

"It is never too late to be what you might have been." The author George Eliot said that, and I absolutely agree. Every moment is an opportunity to change, to re-focus, and to get back in the game. My games are golf and real estate – what are yours?

Patti Kouri, Accelerated Performance Coaching
Helping You Through Self-Made Limitations! 

Will you Take My Challenge and increase your income?
Play The Real Estate Game®