Neat Tweets: tools to fuel your Twitter presence

With so much buzz about Twitter, more and more real estate agents are wondering how to join this network and make it useful for their business. Here are some tips and tricks that you can implement now to build valuable relationships through Twitter.

• Search the entire Twitter-sphere for other real estate agents or individuals looking to buy or sell in your area using http://search.twitter.com/.

• Research shows that close to 10,000 new people join Twitter every day. That is a large audience ready to listen to what YOU have to say. Find people in your area using Twello.

• Find out what's happening in your local area with Happn.in: Sharing valuable information with your followers will earn you more followers and a greater online presence. Happn.in lets you search local trends so that you can "tweet" on the latest and greatest while building solid relationships.

• Use multimedia tools such as Twitpic to post pictures and video to your Twitter feed.

KW has the "secret sauce" for success

According to a recent CNBC blog post, Keller Williams Realty is outshining the competition with its "secret sauce"! Read the article written by Jay Papasan, co-author of SHIFT. Read it now!

Obama widens mortgage refi program

With home prices still falling, administration opens up rescue program to homeowners whose loans are 125% of their home's value.

By Tami Luhby, CNNMoney.com senior writer

Last Updated: July 1, 2009: 3:06 PM ET

NEW YORK (CNNMoney.com) -- The Obama administration is widening its mortgage refinancing program to allow more borrowers hit hard by falling home prices to take part.

Borrowers whose loans are now worth up to 125% of their home's value are now eligible to refinance their homes under the Obama foreclosure prevention plan announced in February. Previously, the limit was 105%.

The move acknowledges that home prices in many areas have fallen so far that many people were shut out of the program.

Some 67% of homeowners in Las Vegas -- one of the hardest hit areas and where Housing Secretary Shaun Donovan announced the expansion Wednesday -- owe more than their homes are worth.

More than one in five borrowers are now underwater, with homes in parts of California and Florida losing more than 50% of their value, according to Zillow.com, a real estate Web site. Some 20 million people own homes worth less than their mortgages.

"The president's Making Home Affordable plan is already helping far more than any previous foreclosure initiative and with today's announcement we will extend its reach still further," said Donovan.

How many more people will be drawn to the program now, however, remains a question, especially since mortgage rates are on the rise. Administration officials do not have an estimate.

Refinancings slow to ramp up

Some 20,000 loans have been refinanced so far, according to the Treasury Department.

The initiative waives the requirement that homeowners have at least 20% equity in their home, allowing them to take advantage of today's lower rates. Homeowners must still meet other criteria, including being current on their payments and having loans that are owned or backed by Fannie Mae or Freddie Mac. The administration has set up a Web site,www.makinghomeaffordable.gov, with more information.

Wednesday's expansion means those with homes worth $200,000 and mortgages as large as $250,000 can still qualify. Previously, these borrowers could not have loans exceeding $210,000.

The program, however, has been slow to ramp up. Borrowers have complained that banks are not approving their applications. The Mortgage Bankers Association last week slashed its 2009 forecast of originations because fewer refinancings were being done than they originally expected. The group said only 13,000 were done in the three months after the plan's launch.

The administration has projected that 4 million to 5 million mortgage borrowers would be helped. A Treasury official Tuesday said that the figure applied to those who would be eligible, not necessarily those who would participate.

Administration officials do not have an updated figure of how many people would be eligible or participate now that the criteria has been widened.

The recent uptick in mortgage prices has blunted the plan's benefit, as well. The Federal Reserve has been buying mortgage-backed securities and long-term Treasurys in an effort to lower rates.

It worked for a while. Rates hit a low of 4.84% on April 28, but are now at 5.45%, according to HSH Associates.

Since mortgage rates have been in the 6% range in recent years, refinancing to the mid-5% range may not be worth it, said Keith Gumbinger, vice president at HSH Associates. A homeowner with a $200,000 mortgage at 6% would see a savings of about $64 a month if he refinanced at 5.5%, and that's before closing costs.

"Are interest rates low enough to warrant getting into the process?" he said.

The administration's announcement comes on the same day as an industry group reported that the demand for refinancing dropped 30% last week. In addition to higher rates, rising unemployment is contributing to the decline.

Borrowers with Freddie Mac loans who refinance through their current servicer can apply right away, but those who want to go through a different lender must wait until Oct. 1. Those with Fannie Mae mortgages must use their current lenders and wait until Sept. 1.

A second part of the program lets eligible borrowers who are in default -- or at risk -- lower their monthly payments to no more than 31% of their pre-tax income. This can help those who are not making as much at their jobs or who have monthly payments they can't handle. Homeowners, servicers and mortgage investors can receive incentives to entice them to participate in the program.

Banks have extended more than 200,000 trial modification offers, according to the Treasury Department. Homeowners must make three monthly payments on time before the modification is made permanent.

First Published: July 1, 2009: 12:45 PM ET

Go to http://www.kw.com/msys/MREACandG.html to download the free charts and graphs that compliment one of the greatest real estate business books ever written. The Millionaire Real Estate Agent: Charts and Graphs We've converted all of the charts and graphs from The Millionaire Real Estate Agent into Adobe PDF format. You'll find these downloads helpful while listening to the MREA Audio Book, leading book discussion groups, or reminding yourself to focus on key concepts in your business. •Part 1 - Charting the Course ◦Ceiling of Achievement ◦Models Are Important ◦The 3 L's Model ◦The 6 Myths ◦The Big Why ◦The Four Stages •Part 2 - ◦Stage 1 - Think A Million ■80:20 Rule ■Fiduciary vs. Functionary ■The 8 Goal Categories of the Millionaire Real Estate Agent ■The 9 Ways the Millionaire Real Estate Agent Thinks ■The Many Virtues of Listings ■Think Big Goals and Big Models ■Think Service ◦Stage 2 - Earn a Million ■10 Principles for Empowering People ■33 Touch ■Allied Resources Referral Generation ■Average Conversion Rate ■Basic 14-Step Marketing Plan for Listing ■Basic Job Descriptions for the Organization Model of the MREA ■Beginning with Models vs Beginning with Creativity ■Big Issues of the Economic Model of The MREA ■Budget Overview ■Economic Model ■Expense Overview ■Hobo Shack vs. Houses ■Lead-Generation Ratios ■Mind Share Positioning ■Prospecting vs. Marketing ■The 4 Laws of Lead Generation ■The 4 Models - The Issues and Numbers ■The 4 Models - The Key Areas ■The 7 Recruiting Sources ■The 8x8 Program ■The 9 Major Compensation Options ■The Basic Cash Flow of the Economic Model ■The Basic Economic Model of the MREA ■The Budget Model of the MREA ■The Consultative Interview ■The Cost of a Bad Hire / The Opportunity of a Great Hire ■The Cost of a Millionaire Lead Generation Program ■The Dilemma of D ■The Effect of Average Sales on Unit Sale / Percentage Decrease... ■The Four Models ■The Lead Generation Numbers Game ■The Lead Generation Database Model ■The Natural Balance of Seller and Buyer Listings ■The Organizational Model of the MREA ■The Path to People Leverage ■The Pros and Cons of Hiring a Licensed Assistant ■The Strategic Model for Generating Leads and Building Relationships ■The "Big Two" As a Percentage of Operating Expenses ■Training and Consulting: The Right Way ■Training and Consulting: The Way Most Agents Do It ◦Stage 3 - Net a Million ■Can Your Hire Grow with the Job? ■The "Big Two" As a Percentage Capacity Talent vs. Cul-de-sac Talent ■Daily Worksheet ■Group vs. Team ■Master Task List 80% Worksheet ■Goal-to-Action 20% System ■The Goal-To-Action 20% Worksheet ■The Issues in Between Earn A Million and Net A Million ■The Systems Documentation Model of the MREA ■Two Choices: Be Focused or Be Unfocused ◦Stage 4 - Receive a Million ■After-Tax Money Necessary ■In vs. On ■MVVBP ■Saving For Passive Income? ■The 7th Level Concept ■The Difference Between Active and Passive Income •Part 3 - Staying on Top ◦Putting It All Together ◦The Millionaire Real Estate Agent Energy Plan

Success Strategies from Jack Canfield

Act to Create It
by Jack Canfield

If you want to live a dream life, not only must you decide what you want, turn your dream into measurable goals, break those goals down into specific action steps, and visualize and affirm your desired outcomes - you must start taking action!

I recommend making the commitment to do something every day in at least three different areas of your life that moves you in the direction of your goal.

If one of your goals is physical fitness, make a commitment to do some sort of exercise - aerobics, weight training, stretching - four to five times a week for a minimum of twenty minutes.

I read recently that if you simply go for a 30 minute walk four times a week, that would put you in the top 1% of those people getting physical exercise!

If your goal is financial independence, start saving and investing a portion of your income every month with no exceptions.

If your goal is to write a book, write for a minimum of one hour every day.

DON'T LET FEAR STOP YOU

Most people never get what they want because they let their fears stop them. They are afraid of making a mistake, looking foolish, getting ripped off, being rejected, being hurt, wasting their time, and feeling uncomfortable.

Fear is self-created by imagining catastrophic consequences that have yet to happen. It is all in your mind. In fact, you can actually scare yourself by imagining negative and harmful images. But simply stop the catastrophic thoughts and images, and the fear goes away.

REJECTION IS A MYTH

One of the biggest fears that stops people from asking for support, guidance, advice, money, a date, a job, the sale, or anything else is the fear of rejection.

In fact, it's been known to literally paralyze people. They become tongue-tied and refuse to reach for the phone or get up and walk across the room. They break out in a sweat at the mere thought of asking for what they want.

I have come to realize that the whole concept of rejection is false - that rejection doesn't really exist. Think about it for a moment. If you asked someone to join you for dinner, and they said no, you could tell yourself that you had been rejected. But think about it. Did you have anyone to eat dinner with before you asked them? No! Did you have anyone to eat dinner with after you asked them? No! Did your life really get worse? No. It stayed the same!

ACT AS IF

One of the secrets of success is to start acting like a success before you are one. Act as if.

If you had already achieved your dream, what kinds of clothes would you be wearing? How would you act? How would you treat others? Would you tithe a portion of your income to your church or favorite charities? Would you have more self-confidence? Would you take more time to spend with your loved ones?

I suggest that you begin to do those things now.

When I decided that I wanted to be an "international" consultant, I immediately went and applied for a passport, bought an international clock that told me what time it was anywhere in the world, printed business cards with the words "International Self-Esteem and Peak Performance Consultant," and decided I would like to first go to Australia. I bought a poster of the Sydney Opera House and placed it on my refrigerator.

Within one month, I received an invitation to speak in Sydney and Brisbane. Since then, I have spoken and conducted trainings in over 30 countries and continue to expand my business around the globe.

Start acting as if you already have everything you want.

Most people think that if they have a lot of money, they could do the things they want to do, and they would be much happier. In fact, the reverse is true.

If you start by creating a state of happiness and abundance, then do the things you are inspired to do from that state of being, you will end up having all the things you ultimately desire.

You may not be able to fill your closets with expensive Italian suits and designer clothing, but why not invest in one or two really great outfits, so that when you do need them, they are there. When you dress like you have already made it, you will look the part, and successful people will naturally be attracted to you and invite you to participate with them.

The Law of Attraction states that you will attract to you those things that match your state of being. If you focus on having gratitude for what you do have, you will feel rich, and you will attract more abundance into your life. If you focus on what you don't have, you will send out a message of lack and you will attract more lack into your life.

BE, DO AND HAVE EVERYTING YOU WANT... STARTING NOW!

Remember, the proper order of this is to start now and be who you want to be, then do the actions that go along with being that person, and soon you will find that you can easily have everything you want in life--health, wealth and fulfilling relationships.

Jack Canfield, America's #1 Success Coach, is the founder and co-creator of the billion-dollar book brand Chicken Soup for the Soul and a leading authority on Peak Performance. If you're ready to jump-start your life, make more money, and have more fun and joy in all that you do, get your FREE success tips from Jack Canfield now at: www.FreeSuccessStrategies.com

Leadership Lessons from John C. Maxwell

TAKE SOMEONE WITH YOU By Dr. John C. Maxwell

A year or two after my wife, Margaret, and I got married, we made a critical decision. We didn't have much money, but we decided that, whenever I was invited to speak in a city she wanted to visit, she would come with me. This was important to me because I didn't just want to come home and tell her about all the wonderful places I'd seen; I wanted her to experience them with me.

We've traveled together for several decades now, and the memories and mementos we've collected from all the various places we've visited have greatly added to the richness of our life together. In fact, it's made such a difference in our journey as a couple that, whenever I see someone traveling alone, I always wonder, "Doesn't he have someone to take with him?" In the last issue of "Leadership Wired", I wrote about "traveling light" through life, which involves getting rid of excess emotional baggage and keeping short accounts with work associates and loved ones. Today, and for the next several issues, I'm going to stick with the theme of traveling through life and offer a few tips that hopefully will make your own journey a little more productive and fulfilling.

The traveling advice I want to give you now is the relationship tip I alluded to before: On your journey through life, take someone with you. As I already mentioned, I've practiced this philosophy with my wife since the early days of our marriage, and I've also tried to incorporate it into my professional life. This traveling tip is especially appropriate for people in leadership or mentoring roles; after all, you can't be a leader unless you have someone to lead, and you can't be a mentor without someone to mentor.

Now I must mention that, while being with people has provided some of the highlights of my life, it also provided some of the low lights. I'm sure you can relate to this. As I wrote in my book, "Winning with People", most people can trace both their successes and their failures to the relationships in their lives. That's just how life works. I'll be the first to admit that, sometimes, taking someone with you doesn't end well. But despite this reality, if we believe that our value to society comes down to what we do with and for other people, it's very essential to take the trip with somebody else.

In "Winning with People", I identify a number of principles designed to help readers get along well with others, many of which highlight the value of taking someone with you. For example, the community principle states that what we do together is not as important as being together. The foxhole principle advises that when preparing for battle, dig a hole big enough for a friend. And the learning principle comes directly from a quote by Ralph Waldo Emerson, who said, "Every man I meet is in some way my superior and I can learn from him."

As you think about the people that you are traveling with now, as well as others you might want to take with you in the future, here are two questions to consider:

1. How can I add value to them? This is a huge priority for me. Every evening, I ask myself a very simple question: Did I add value to someone today? In other words, did I encourage or help someone? Did I do something to help someone become a better worker, spouse or parent? If you're going to take someone with you, you must be intentional about adding value to their lives.

2. What can I learn from them? In order to learn, you have to listen. In fact, both these questions require listening. You can't help or learn from another person without listening to that individual. You have to find out where they are in their life journey before you can discover what you can offer to them, as well as what they can offer to you.

Before I close, I need to mention one more concept from "Winning with People" that addresses a more sobering reality of taking someone with you. I call it the patience principle, and it says, "The man who goes alone can start the day, but he who travels with another must wait until the other is ready." Here's the application. When you take someone with you, it will inconvenience you. You won't get started as early as you wanted to get started. You won't get to stop at every place you wanted to stop. And you won't get to do everything you wanted to get done. All that can be very frustrating. And yet, if you decide to travel life alone because you don't want to be inconvenienced, all you will end up with is emptiness and loneliness. That's because we weren't placed here on earth for ourselves; we were placed here for others. And the moment that we understand and accept that, taking someone with us stops being a choice and becomes a responsibility. "This article is used by permission from Dr. John C. Maxwell's free monthly e-newsletter 'Leadership Wired' available at www.INJOY.com."