Living in an UBER World - June '24 Sales Meeting

June 2024 Lancaster County Sales Meeting for Berkshire Hathaway HomeServices Homesale Realty covering the following topics: 1. VA Suspends Buyer Agent Payment Plan (article), 2. Frequently Used Terms in title, 3. Zillow Showcase Overview, 4. QuickBuy commission promotion, 5. Documenting Cooperative Compensation, 6. NAR's Code of Ethics - Mass Media Solicitations, 7. Is it really cheaper to rent? 8. Do's and Don't's when Terminating the Agreement of Sale, 9. Living in an UBER World

1. Living in an UBER World Sales Meeting June 2024

2. Core Services June 12, 2024 2

3. Lender Credit June 12, 2024 3

4. NEW Lender Survey June 12, 2024 4 After you complete a transaction with Homesale Mortgage , you will receive a survey to complete through Experience.com You will only receive this once a year per Loan Officer that you use Please use this as an opportunity to share your opinions

5. VA Suspends Buyer Agent Payment Ban June 12, 2024 5

6. Core Services June 12, 2024 6

7. Frequently Used Title Terms June 12, 2024 7 Estates Types of Tenancy Other Terms

8. Core Services June 12, 2024 8

9. Why Choose Homesale Insurance? June 12, 2024 9

10. So you think our business is easy? June 12, 2024 10

11. July Town Hall Meeting June 12, 2024 11

12. June 12, 2024 12

13. Zillow Showcase June 12, 2024 13

14. Zillow Showcase June 12, 2024 14 Enhanced Visibility: Listings receive premium placement Detailed Insights: Valuable analytics Prominent Branding: Alongside your listings Go to ZillowSHOWCASE on Homesale Center for more information!

15. QuickBuy Promotion – Extra 1% BONUS June 12, 2024 15 To qualify for this bonus: Send to your SOI and/or geographical farm (minimum count: 300) Provide proof by sending a screenshot of your email sent confirmation to [email protected] by June 30, 2024. When you sell your next QuickBuy® home, you will automatically receive an extra 1% on your commission

16. QuickBuy Promotion – Extra 1% BONUS June 12, 2024 16 Access Templates: Marketing REsource: Search “QuickBuy Newsletter” Cloze: Marketing Email Template “QuickBuy - Newsletter”

17. Documenting Cooperative Compensation June 12, 2024 17 On August 15, 2024 , Bright MLS will remove all reference to co-op compensation in the MLS It is important that you begin obtaining verification of compensation with each sale NOW Begin getting the Cooperating Broker Compensation Agreement (PAR Form #CBC) signed prior to the tendering of an offer to the listing broker. Recommended to start immediately . Required beginning on July 1st

18. Donate to the Sunshine Kids June 12, 2024 18 Sunshine Kids Golf Tournament – September 4, 2024 Purchase a golf ball for a chance to win a 50/50 raffle & $15,000 * * Do not need to be present to win

19. Be a Hero for a Cause June 12, 2024 19 SPREAD THE WORD: Use provided marketing materials to share about buying golf balls, sponsoring the tournament, & playing golf! SPONSOR: Gain exposure for your business or ask your favorite partners/vendors to sponsor! Options start at $150! GOLF: Play or spread the message to others! Fun for golfers & non-golfers alike! VOLUNTEER: Interested in joining the planning committee? Reach out to [email protected]!

20. Know the Code June 12, 2024 20 Mass Media Solicitations Aggressive marketing strategy or a violation of the Code of Ethics?

21. Know the Code June 12, 2024 21 REALTOR® A launched an advertising program in an area where there were a number of houses for sale listed exclusively with other REALTORS®, each having the respective listing broker’s sign on its front lawn. Working with his advertising agency, REALTOR® A developed a special e-mail solicitation describing the service of his brokerage. He employed a commercial e-mail distribution service to purchase the e-mails of every homeowner in REALTOR® A’s market area. The e-mail distribution service sent REALTOR® A’s e-mail solicitation to all the homeowners in his market area, including houses that had other REALTORS®’ signs in the front yard. Several REALTORS® whose clients received the emails, filed complaints with the local Association claiming that REALTOR® A was unethical because he had failed to respect the exclusive agency of other REALTORS®. At the hearing, REALTOR® A defended his actions by saying that the distribution of his e-mail solicitation was widespread in nature; that it had been carried out by a commercial distribution service; and that it was of the same nature as television or social media advertising. 

22. Know the Code June 12, 2024 22 - NO VIOLATION - The Hearing Panel found that REALTOR® A’s advertising campaign was directed in an indiscriminate manner to all property owners in a given geographical area. Furthermore, the medium REALTOR® A chose for his advertising campaign was an e-mail, which property owners could read or delete as they saw fit. The panel determined that this form of communication does not harass a property owner, as would telephone calls or direct personal contacts. The Hearing Panel, therefore, held that REALTOR® A’s advertising campaign did not violate Article 16 of the Code of Ethics.

23. June 12, 2024 23

24. Real Estate Headlines June 12, 2024 24 Homeownership out of reach for many Americans May 13, 2024 Cost of buying a home in America reaches a new high April 25, 2024 There’s more bad news for potential homebuyers: Prices just hit another record March 26, 2024

25. Appreciation Rate in Lancaster County June 12, 2024 25 (April Year-Over-Year) 0% 5% 10% 15% 15.1% 8.7% 11.8% 7.1% 8.3% 2020 2021 2022 2023 2024 SOURCE:

26. Rent vs. Own in Lancaster County June 12, 2024 26 Square Feet: Sale Price: Mo. Pymt.: 1,381 $307,500 $1,931.76 110 Musser Avenue * 95% LTV for 30 years @ 6.94% (FreddieMac 05/23/2024) Square Feet: Mo. Pymt.: 1,382 $1,837.00 3 Bedroom Apartment * * SOURCE: $94.76 Difference in Payments

27. Rent vs. Own in Lancaster County June 12, 2024 27 Appreciation* 2024 3.78% $ 319,124 2025 3.36% 329,846 2026 3.87% 342,611 2027 4.18% 356,932 2028 4.11% 371,602 * Home Price Expectation Survey (HPES) Rent 5 years of Rent ** Net Worth $ 124,260 -0- ** Rent/yr. is increased per the HPES Appreciation Mortgage Reduction Equity LESS: Down Payment Net Worth $ 64,102 17,320 $ 81,422 15,375 $ 66,047 Own

28. June 12, 2024 28 Terminating the Agreement of Sale

29. Terminating the Agreement of Sale June 12, 2024 29 PAR For TERAREL Termination of Agreement of Sale Either party may terminate Only one party needs to sign Release and Distribution of Deposit Distribution of deposit is negotiated No agreement – No release Requires two signature

30. Terminating the Agreement of Sale June 12, 2024 30 The Buyer terminated the agreement, but the Seller hasn’t signed the release. Can the listing agent now market the property as active? Yes. The Buyer chose to terminate the agreement. The form states, “Seller may market property and accept offers from other Buyers.” The Seller’s refusal to sign the bottom portion of the form creates a dispute over the MONEY — not the PROPERTY

31. Terminating the Agreement of Sale June 12, 2024 31 Can the Buyer terminate the agreement of sale because their mortgage application was denied? No. Only the Seller may terminate. The agreement of sale states, “Termination of this Agreement by Buyer due to the mortgage lender’s denial of Buyer’s mortgage application(s) may demonstrate bad faith by Buyer and result in the forfeiture of deposit monies to Seller.” (Paragraph 8.(F)3.)

32. Terminating the Agreement of Sale June 12, 2024 32 The buyer’s agent had the Buyer sign a termination and they delivered it to the listing agent . . . but the agent’s are still talking trying to keep the deal together. SORRY. The deal is terminated and a new agreement of sale would need to be signed if the parties work something out. NEVER use this form as a negotiation tactic.

33. June 12, 2024 33 Living in an UBER World SOURCE: Ferrara, Matthew. “What My Uber Driver Knows about Real Estate’s Future.” Always Inspiring, 28 May 2024, mferrara.substack.com/p/uber.

34. Remember Getting a Taxi? Airports were notoriously ‘short’ on cabs You had to ‘Hail’ one down Cabbies always seemed to go the ‘long way’ Not spacious – no air conditioning – dirty + + + the unions fought against credit cards for years June 12, 2024 34

35. And Then UBER Hit! The consumer was THRILLED ! Exact opposite of everything the consumer despised about taxis Cab owners and drivers didn’t see it that way June 12, 2024 35 Does this sound anything like something we’re in the middle of right now?

36. Matthew Ferrara’s AHH-HAA Moment June 12, 2024 36

37. How the World Works June 12, 2024 37 Lawyers won’t provide legal advice without a contract Accountants won’t file your taxes without quoting a fee and charging your credit card Doctors require a co-pay before you enter the exam room Contractors require a deposit The consumer is used to paying for services up front - - - Just Not REALTORS® - - -

38. 1. Success Starts by Believing You’re Worth It June 12, 2024 38 No client will be excited to meet someone who, “kinda, sort’a, maybe” thinks they should be paid ACTION STEPS: Write down 5 things you deeply believe you deserve in life and review them before meeting with clients

39. 2. Get Comfortable About Talking Price June 12, 2024 39 Remind yourself of what price stands for: Mutual Value . You pay for products and services that provide you with an equal amount of value. ACTION STEPS: Practice discussing price with a coach, manager, colleague or in front of the mirror.

40. 3. Develop a Full Pipeline June 12, 2024 40 Nothing makes it easier to say, “Maybe next time,” to a customer who won’t or can’t pay than a full pipeline ACTION STEPS: Get back to basics and use multiple, lead generation strategies to fill the pipeline

41. 4. Leverage Past Results June 12, 2024 41 Position past performance as a primary discussion point with prospective clients rather than referring to future promises ACTION STEPS: Compile a diverse variety of stats, stories and examples that cover a wide range of validation moments

42. 5. Be Easy to Engage June 12, 2024 42 Make it easy for the customer to find you by utilizing a variety of communications, coordinating tools and information management systems ACTION STEPS: Develop a “New Client” orientation session so people will know what they will receive the moment after they become your client

43. June 12, 2024 43 “No cabbie ever picked me up in a Tesla Model X with Falcon wing doors before. And with wings, you can soar!” - Matthew Ferrara