The Wright Team Catherine's Blog

Catherine Wright's Blog

Updated Numbers

7/31/2018

sold 73118

 

We have have really enjoyed this year of Growth with the Wright Team. We learned a lot of lessons, have been able to help a lot of 

amazing clients and are not even done yet. In the Fall we began putting together a plan for 2018. We looked at everything we were able to accomplish,

were grateful for getting that far, and then began to dream of what 2018 might be able to bring. We looked at things that 

worked. We discussed things that didn't work. We asked for input from our excellent coach as well as from the 

top notch agents around us. That gave us some ideas to try. This year has been an amazing ride of 

seeing what is possible. I hope this year is also an amazing year for all of you.

The Path to Redo

7/2/2018

the path to redo

 

The Path to Redo

Shockingly enough, most of the time the first time I walk into a home to list it, the home is not ready yet. That means a redo will have to be done. It is sort of like a "Do Over" when playing a game. You walk in expecting HGTV and you don't quite get it on the first time. When I know the client needs a do over I have some pretty simple advice. 

1. Budget and plan in advance

The success of failure of the whole plan is in the planning. Expect the unexpected. Put extra room in the budget for emergencies. Wrigt it all down. Every penny, every project, the time frame, the goal, and the back up plan. 

Be sure to discuss the plan in detail with all decision makers. Get everyone to sign off before you begin. Many projects are left undone because everyone was not on board. 

2. Begin with the most important: The walls, roof, and structure. Get them inspected and make sure they are in the right condition. You do not want to invest into a home that is going to be destroyed by time or nature as you work. Call a termite professional, roofer, contractor, and foundation specialist. Get them to sign off on the integrity of the house before you begin. 

3. Prep work: Remove everything that does not belong. Prepare the floors, walls, everything for the work. 

4. Begin at the bottom and work your way up. Prepare the floors, then paint, then put in fixtures. You build from the bottom up.

5. Clean from the top down: Start with the light fixtures and vents and clean everything you can see, including changing the air filters. 

6. Accessorize and finish: Make the home feel excellent. When you walk in you should feel like you want to stay a while. It should be clean, bright, nice smelling, beautiful.

Working in My Strength

6/5/2018

working strength

 

Working in My Strength

There are 3 ways of finding strengths in life. I started out working primarily on my weaknesses. I wanted to do sales. I wanted to make a way for my family to transition from the military. I began learning all the things people told me was important. I failed. I failed. I failed, then I succeeded. I started to see there were things I did not fail at. I started to try those things again. That was one of the ways to find your strengths: 

1. FIND WHERE I SUCCEED

By duplicating the successes I was able to begin working in my strengths. 

As I went along I received both positive and negative feedback. I began to really mull over the negative feedback until I presented it to a wise woman. She asked me who the person was who had given me that information and whether they were qualified experts on me. I replied, "No, in fact, I think the reason they said it was because they wanted me to pay them more money." She said, "Then they do not have the right to give you information about yourself. There should only be a handful of people in your life who are experts on you. Listen to them." That is the second way I found my strengths. 

2. LISTEN to MY ADVOCATES

As that began to bring some peace and I was able to weed out the bad advice and more quickly find the good by examining the source, I was involved in a lot of coaching in sales. During the coaching I was given personality assessments. One of them was the DISC Test. It explained myself to myself. I learned I am more concerned with results than details. That allowed me to really see a clearer path. If I am more concerned with results, I need to focus on the activities that give the best results. 

3. LEARN MYSELF 

was this step. I began seeing how I do things and deciding proactively what activities I do and do not do. I used this to cut down on wasted time, money, and emotional ties. The problem with all of this is it does not work without people also using their strengths with you.  I had to 

FIND MY TEAM. 

Without a team of people who have strengths where I have weaknesses my weaknesses will be like ticking bombs ready to explode when I do not focus on them. In order for me to live in my strengths I need my friends, my family, my support. I need their strengths like they need mine. We live this life together. 

Closing Date Mania

5/7/2018

closing mania

 

Closing Date Can be a moving entity. 

The goal is to have it either sooner or on the day listed in the contract, but I have seen many variations of how it is handled.

WHAT CAN YOUR AGENT DO?

The agent can work together with your lender to keep CLOSING DATE MANIA at bay. They make sure the lender and title company has all the information from the contract as well as good contact information for everyone who are part of the closing team for your file. They follow up to see where the file is, usually every other day.  MOST of All they Set Clear EXPECTATIONS for the client as to what can effect a closing date. If the closing date must move they advise the client of the fact immediately, and Of course they always are part of the solution, finding and solving problems to keep DRAMA at ZERO.

WHAT CAN YOUR DO?

The main hack to the closing date mania is good communication. As a Buyer or a seller, TALK to your agent or their closing coordinator at least once a week during the closing process. 

ASK important questions such as "What can I do now?" "Where is the file?" "Is the closing day still the same?"

You are a TEAM. Expect to hear from your agent with updates as well as from your lender with how the loan is coming (for buyers). Expect to find out where the title work is in the process or if the file is out of underwriting. 

Always be part of the solution and hire an agent who is always part of the solution as well. There is No Time for DRAMA. 

Clear communication and consistent expectations should cut out any CLOSING DAY MANIA.

Our sales

5/7/2018

sales 5718

How to be a Husband and Wife Team

4/30/2018

h&w team

 

We have a lot of people who ask about how we work together. 

I think with some of the celebrities on TV who work together, it is just a really neat idea to work with your spouse. 

The every day reality does not look much like the shows. There is a need for systems and rules and consistency, you know....work. 

Just like relationships are work, working as a team is work and it can be very stressful work because you care so much about the outcome.

Here are a few ideas that have helped me to make some sense out of the chaos:

1. Who is the Boss?

Everyone cannot be in charge. There are two people. Who is the tie breaker?

Choose the person the most like the following

x cares the most about whether the business survives. x has the most experience in the business x has vivid ideas for the future and a timeline in which they want it completed. x Talks a lot about completing the projects x Doesn't care as much about how it gets done as that it is done.

That is the boss. They make the tie breaker. They direct the future. The other person directs the present. They are in charge on the the day to day. They look at the details and make sure there is consistency. 

2. Have meetings

The worst thing that could happen is that you spend the whole day as one gigantic, never-ending business meeting. No. Have meetings to discuss ideas, marketing, budgeting, etc. Be prepared for the meetings with the information required to make decisions. The boss runs the meeting. Protect your home time with scheduled meetings. If you have ideas, write them down and save them. Your relationship comes first.

3. Stay in your Lane. Everyone has a portion of the business to be in charge of. The portion for each person is decided during the meetings. Stay in your lane. Do not begin doing the work that belongs to your spouse. 

Hopefully this helps you as you decide whether to be a team or how to form your team. Feel free to reach out to us for further information on working with our husband and wife team to buy or sell real estate. 

 

Zig

4/27/2018

zig smile

I love reading Zig Ziglar books. The way he thinks is so clear and easy to understand, but it takes forever for me to finish the book because there is so much to think about. This is a quote that I thought was just perfect.

A smile is one little curve that sets a whole lot of things straight.

Business Made Easy

4/16/2018

Business Made Easy

 

  1. The Golden Rule        Do unto others as your would have them do unto you, that is the first point of "Business Made Easy." The first step is to govern your own character and outlook. When you are given a problem, it is not about finding fault. It is about taking care of people. When was the last time you felt the company you were buying from or with really tried to take care of you? Wouldn't that be great? That is what we try to do at the Wright Team. We are not perfect, but we are definitely trying to make the experience of working with us one of being well cared for. 
  2. Be a Part of the Solution         I saw a video the other day that was talking about the difference between fault and responsibility. You can be at fault or not be at fault and still be responsible. At the Wright Team we try to be part of the solution. That means we are not dwelling on whose fault it is. We are trying to work for a good outcome. 
  3. Who is Your Client?        This is a unique philosophy. We have a hierarchy of who the client is. The primary client is the buyer or the seller. The secondary client is the Team Member. The tertiary client is the other individuals participating in the deal. That means it is the other agent, the lender, the title worker, the insurance agent, yes, everyone could possibly be our client. This helps us to make it easy to close a deal. That means even if the hold up is not with our team, we are trying to help get the work done that the buyer or seller needs to be completed. That is what we mean when we tell our client that we are their advocate. We are working in the background to make things work so the process of buying or selling a home is not more complicated than it already is. 

5 Moving Tips

3/29/2018

 

Shamberly, our Closing Coordinator, has been helping with some of the programming for my weekly Facebook show. This week she was the surprise guest as a Military Wife Extraordinaire. She has had a lot more moving than I have and had some amazing advice for all of us. I am bringing it down to the top 5. 

5. Duct Tape

Use the colored or printed Duct Tape to set apart boxes for each room. In our recent move I used this advice. On two corners of the box I taped the color. For my daughter we used pink. For my son we used black. The kitchen was purple. The living room, turquoise, etc... That way when the movers took each box off the truck they knew exactly which room to take it. To cut down even further on confusion, tack a piece of the tape to the door that the color matches. 

4. Baggies

Many things can be organized in Zipped bags. Small bags for forks or spoons, big bags for other items that just will go wondering off if not sealed up. Pack them in the bag and then place them in the box for the room. Larger bags for drawers of clothes. Bag the clothes and keep them in the drawer. Then at the destination just unbag them. 

3. Hanged clothing stays on Hangers

Use the natural corners of the box to place the top of the hangers and lay the clothes in the box already on the hanger. Then, Voila! You open the box in the correct room and hang up your clothes. 

2. Purgatory Box

Keep a box as you move in for items that may or may not have a home. If you are wondering why you have it, send it to purgatory. Check the box in a month. If you know why you have it, keep it. If you do not know, it goes away. 

1. Time

You need a whole month before hosting parties, sending out pictures of the interior, or expecting yourself to have it all together. In that time, have fun with where everything goes. Try new arrangements. Make decisions on which items really earn their spot. The items that do not mesh or are not bringing you joy can be regifted to bring another household joy, or can be thrown away. At the end of the month, take the pictures, throw the parties, and feel at home. 

 

If you have amazing ideas for us to cover on our blog or our show, contact us. We hope this helps to make more houses into homes in our Lawton/Fort Sill community.

The Deal, finding a deal in Real Estate

3/12/2018

the deal

 

Probably about half the calls we get every single week are on bank owned property. Usually the person on the other end of the line is wanting to find the perfect house at a DEAL. The pictures look amazing. The neighborhood is perfect. The price is half of what the rest of the houses are selling for. The problem: If something looks too good to be true, it usually is. We then set the appointment to see this gilded house only to find parts of it missing such as the appliances, the roof, the doors, windows, etc...I have even seen a missing toilet tank cover.....Now really, who does that???? 

The conversation we have over and over and over again is the standards needed to buy a home with an FHA or VA loan with a property as opposed to the condition of the property that looked too good to be true. What comes next? I hear that they just want a deal. There are more ways to get a deal than buying a broken house. This is not an episode on TV. This is real life. Basically, it comes down to math. You heard right, MATH.

Here is the gyst:

A deal is basically a purchase of a property where the buyer pays for the property less than the value of the house is. Really, what you pay for the house is probably going to be the current value of the property, given that most people will not pay more than they have to on a property. Property value is determined by appraisers to simply be the value an average person in the market for a house like the subject, would be willing to pay. You can see the problem in creating a deal. The value is basically what you would pay for it. So how can you ever get a deal? Hard Work, area prices rising, replacing appliances, to name a few. 

The math is simple:

Cost to purchase the house: $$$

Cost to close on the house: $$$

Cost to repair the house: $$$

Cost to hold the loan until sell (Average days on market is about 80 days): $$$

Cost to Sell the house: $$$

TOTAL all these to find your all in cost. 

NEXT, figure out the full market value when you sell the home after you make necessary changes. Multiply that by 96% because houses in our market usually sell for 96% of value. The price you get on the house minus the costs is your profit.  A great deal has a profit there of around 40%. 

For more information about finding a great deal in Lawton by working with teh Wright Team, contact us at 580-647-8281. 

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