Prepare Now to Crush it After COVID-19 with Jutin Bosak

04/03/20 • 33 min

Justin Bosak is out of Wall Township, New Jersey, which is considered a suburb of New York City. NYC, as many know, is considered the US epicenter of the COVID-19 pandemic. New York City has banned all real estate showings and new listings, causing the real estate market to slam on its brakes. With the NYC and NJ economies being deeply connected, there is no doubt that Justin Bosak finds himself and his family in a difficult situation.

In challenging times, we have to manage our mind and do what the great leaders and success stories have always done. We have to maintain a strong mindset and do everything that does lie within our powers now.

That is exactly what Justin Bosak is doing and it's giving him the confidence to realize that once this storm passes, he is going to be positioned for massive success. While many are using this time to hibernate or spend endless hours following the tragic news stories of our world today, others like Justin are going out and doing everything they can now to prepare for brighter days ahead.

Some of the things that Justin is doing now include:

Embracing and leading with technology. He recognizes that the more visibility he can give his listings now, the higher the likelihood that they’ll sell and the more people will see him as the right resource when it comes time for them to sell. While others are avoiding this new world or slowly dipping their toe in the water, Justin is sprinting forward.
He’s up, dressed, and in the office working. He’s respecting social distancing of course, but also putting in the work now that his teammates, clients, and community need.
He’s getting essential information out to his clients, including details of the government stimulus package.
He’s cutting expenses and renegotiating contracts. Zillow is offering leads for half price and so he’s looking at all of his expenditures to see what needs to go, what needs to be renegotiated and what should stay.

How Justin continues to Think Bigger and expand his possibilities, even amidst perceived shrinking possibilities, Justin is looking to other leaders to see what they are doing. He is listening to podcasts and finding others that are winning in this environment and immediately implementing their activities.

Some of the things that Justin is doing now include:

Embracing and leading with technology. He recognizes that the more visibility he can give his listings now, the higher the likelihood that they’ll sell and the more people will see him as the right resource when it comes time for them to sell. While others are avoiding this new world or slowly dipping their toe in the water, Justin is sprinting forward.
He’s up, dressed, and in the office working. He’s respecting social distancing of course, but also putting in the work now that his teammates, clients, and community need.
He’s getting essential information out to his clients, including details of the government stimulus package.
He’s cutting expenses and renegotiating contracts. Zillow is offering leads for half price and so he’s looking at all of his expenditures to see what needs to go, what needs to be renegotiated and what should stay.

Previous Episode

Create a Plan to Stay in Front of Your Database Consistently with Cody Martens

The first main point is why being in front of and in contact with your database right now is so important. John Maxwell teaches that leadership is influence, nothing more, nothing less. To which I would add, sales is leadership nothing more nothing less. Those that are good at sales are good at leading others. Period.

During times of crisis, leadership is needed more than ever. At the time of this recording, we are right in the middle of the COVID-19 global pandemic that is wreaking havoc on the health, wealth and overall well-being of people, communities and nations.

The second main point is why agents don’t do this. At a time such as this many are concerned about reaching out to their database for fear that it is bad-timing to be making sales calls. Here are a couple of things to realize: Cody and I outline three questions that would be well received by any of your clients, especially now:

How are you?
How is your family?
Is there anything I can do to help you right now?

These questions will be easy for you to ask and well-received by your clients. Additionally, if you’re genuine, patient, and curious in your approach, you’ll be able to peel the onion to find out ways that you can serve them that may or may not have anything to do with real estate.

I shared the story of a client, Kip Craglow who, out of genuine concern for his hair stylist reached out to see how she was doing. He got a call a few days later from the hair stylist's brother who needed to sell a townhome. That won’t happen every time, but it will happen. Even when it doesn’t happen, you’ll still be adding value to yourself and to others by reaching out in care and concern.

The other part of why agents don’t reach out isn’t just because they don’t know what to say. It’s also because many don’t have a database. Or, it may be because many don’t have an organized database or a systematic way to communicate regularly.

The third main point is how to overcome what keeps us from staying in front of our people. Stay in your area of brilliance. You get paid as a real estate agent to build relationships of trust, to know the market well, and then to interpret the market for your clients in a way that is customized to their specific situations and goals. You do not get paid well when you try to be the web developer and the one turning all of the gears and levers. Yes, during this time you should absolutely get your systems in place. And when I say you should get them in place, that doesn’t mean that it should actually be YOU that does it for you.You should also find someone else who is expert at that to do it for you as opposed to you taking this time to learn a skill that isn’t as valuable as is the time you could be spending with your clients.

For a great solution to this, be sure and go to luminaryagent.com or contact Cody directly at cody@luminary agent.com.

Next Episode

Deferral vs. Forebearance with Tony Gillard

During these unprecedented times that we are experiencing amidst the COVID-19 pandemic, not only has the health of many experienced trauma and even death, our economy has suffered some traumatic blows as well.

Fortunately, we have a government and an economy that is strong enough to help businesses and individuals for a period of time. However, the only goes to those that qualify for the help. While many of these programs are forgivable, meaning that they require no repayment, many are passing because they don’t think they need it or because some other reason tells them they shouldn’t access it.

Another big question mark that everyone has right now is the difference between mortgage forbearance and mortgage deferral. While forbearance means that it all comes due as soon as the forbearance period has passed, deferral technically means that the life of the loan is extended out the same amount of time as the deferral and there is no lump sum payment due at the end of the deferral period. Keep in mind that different mortgage lenders have different definitions and interpretations for these distinctions and so it behooves each person who is interested in qualifying for one of these programs to call their lender to get clarity on what that means to their specific lender.

We also discussed the general sentiment amongst buyers and sellers at this time. While many buyers and sellers are still moving forward, there’s no doubt that our economy has been wounded. While 10M in the US applied for unemployment in the past few weeks, we must recognize the trouble that this signifies trouble for both the employee and the employer. It behooves real estate agents to bulletproof their transactions by ensuring that those with whom they are working are employed and that there is a high probability that they will stay that way.

Tony shared that the silver lining in all of this is the return to humanity in our business. He sees this as being a real shock to the iBuyer movement because people will realize that they appreciate and need the human side of the business. He recommended reaching out to all of your clients to check in and see how you might serve them in their time of need.

Tony’s answer to the Signature Question of how he continues to think bigger and expand his own possibilities is to get outside himself and be concerned about the needs of others. He finds that as he does this, he immediately finds space and opportunity to grow.