Platinum

7 Success Tips for a Mastermind Group

Leave a comment

As I was thinking of ways to improve my Platinum Club meetings I came up with this little agenda for myself and thought you could use them in your mastermind or round-table discussions:

  • Have the group discuss one thing that was currently working really well in their business.  What activities are giving them their biggest bang for the buck?
  • Ask about what one thing they need help on,are struggling with, or want to brainstorm on in this session.
  • What oneresource, such as a blog, podcast, service, product that they believed others in the group would appreciate knowing about and they are getting benefit from.
  • Encourage everyone to speak – ask pointed questions about the market, marketing, lead gen, upcoming events, and networking successes plus make sure everyone answers a question but don’t let one person dominate the conversations.  Spread the wealth so to speak.
  • Have agents share disappointments as well so others learn from their mistakes or can help them approach the situation differently to be more successful next time.
  • Group members can also help you to tap into other skill sets and networks. They may be able to fill gaps in your own knowledge, or introduce you to key people in different industries or from different backgrounds.  Have agents meet with top producing agents in the office or from other companies and report back what they learned.  Could also meet with lenders and title people as well – the biggest thing is to get them out in front of people.
  • Also, by meeting regularly and holding one another accountable for achieving their goals, members of our groups can inspire one another to stay on track. Knowing that you have to share your progress in the next meeting can spur you on, so that you don’t let the group down. Have everyone set one goal prior to leaving.  Then in two weeks, ask them how it is going (or remind them of their goal) so they can report back the following month.
  • Finally, you can also lean on one other for support – remind them this is one of the biggest benefits to the group and will help them grow, support of others.

By getting everyone involved in the conversation, they feel included and it helps them to gain confidence in what they are doing.

Get it? Got it? Good!

Ready to join a Mastermind Group? Give me a call 703-652-5777

Scott MacDonald

RE/MAX Gateway

Platinum Group: Hot Topics in the Northern Virginia Real Estate Market

Leave a comment

In a recent Platinum Group meeting we discussed many hot topics in the real estate market today.  They included the appraisal issues we are encountering that I discussed in my last blog, new home sales, the rental market and of course, low supply and high demand.

New home prices are rocketing up, incentives are going away, one builder sold 13 houses last weekend in Prince William County and took closing costs down to just $5,000 when they were offering more at the beginning of the weekend.  Nationally, new home sales dropped but not in Northern Virginia.

Platinum Group Hot Topics FEB 2013 scottymacsblog

Lack of resale inventory is leading buyers to new homes.  When buyers go to new homes, their prices increase.  Be careful as a lot of builders don’t have appraisal contingencies in their contracts.  Ask what happens if house doesn’t appraise.

The rental market continues to be on fire.  We have a 1.7 month supply of rentals available in Northern Virginia.  Prices have stabilized and move quickly when they are in good shape.  Additionally, in a recent article, it was estimated there will be another 6.6 million renters in the market.  It makes now a good time to work with investors, understand the rental process or even start a property management company.

One other topic we discussed was the lack of inventory of resale properties on the market.  It has been mentioned that we are at an 11 year low in terms of available properties.  When something is desirable, we have seen as many as 14 contracts on one home.  It is time to structure offers for our buyers so they can win in multiple contract situations.

 

To learn more about the market or our networking group, feel free to reach out to me.  scottmacdonald@remax.net

Now, go sell something!