Alright - you're doing well, but maybe it's taking more time than either you or the seller had hoped? Onward & forward!
Property Marketing & Servicing Plan – the 3rd 30 Days
____ Contact seller weekly and debrief on all activities.
____ Discuss concerns about why property hasn’t had offers or sold.
____ Follow-up with other broker showings.
____ Brief Sellers on all other feedback from other broker showings.
____ Revise CMA; what is new? Price adjustment needed?
____ Discuss price reduction with Sellers.
____ Brief Sellers on any current market trends affecting property.
____ Submit any ad changes or marketing alterations to Seller.
____ Outline all pro-active efforts to Seller.
____ Schedule another Open House (if warranted).
____ If price reduction occurs, activate “Tell 25” endeavor again.
____ “Open House” with day and/or time “Sunday sign rider.
____ Submit any changes to MLS, office, and electronic marketing.
____ Submit changed data to Seller.
____ Examine need of incentives and submit to Seller…such as…
____ A Commission increase?
____ Seller buy-down on Buyers interest rate?
____ Floor covering/Carpeting replacement?
____ Pay part of buyers closing costs?
____ Change of financing terms?
____ Repairs still needed?
____ Are the Pre-Sale Inspection & Home Warranty value/ benefits being conveyed?
____ What is the condition of property, inside and out? How does it compare?
____ Review and discuss Seller needs and deadlines. Get a listing extension, if wanted.
____ Discuss with other agents or office staff any recommendations they may have.
____ Share those recommendations with the Seller.
____ Share concerns about the lack of property activity with Seller.
____ Communicate….communicate….communicate!!!!!
Property still not sold at end of the first 90 days? – Well, as it says on many bottles of shampoo, Repeat! Be certain you work hard to enhance and modify this plan as needed to obtain the needed result you were hired for – GET IT $OLD!
NOTE: Home sellers have often relied on incentives to spur sales in real estate downturns. Some of these include (for the buyer and/or the buyer’s agent):
- Giving away a quality television,
- Gift cards of many types for at least several hundred dollars, (i.e. for gasoline or to area restaurants),
- Paying for 6 months to one years worth of maid service, pool cleaning, or homeowners association fees,
- Giving rebates, airline points, a vacation, adding fancy furnishings or even including a vehicle!
Probably the two most effective & simple items are cost buy downs (for example-an interest rate reduction) for the purchaser &/or a cash bonus offered by raising the amount of commission for the agent who brings the buyer, perhaps one conditioned on either (or both) a deadline or a particular price.
Consider (and add as needed) one or more of these incentives to help yours stand out!
Monday, July 6, 2009
Thursday, June 25, 2009
Getting it $OLD - Part 2
O.K. - that listing still does not have an accepted offer from a buyer on it?
No? Let's continue then...
Property Marketing and Servicing Plan – the 2nd 30 Days
____ Discuss future plans with Sellers.
____ Send “Thank You” card to Sellers.
____ Prepare Sellers for “lower than expected” offers.
____ Discuss activity (or lack of) with Sellers.
____ Discuss efforts by you, office, ad company to sell property.
____ Follow-up on all repairs and property condition.
____ Consult with Seller on next Open House efforts.
____ Check on status of house keys/lockbox.
____ Compile list of all ongoing marketing and plan for implementing others.
____ Create a prospective Buyers list (type of buyer, and names).
____ Update CMA; any new Sales? Actives that went Pending? Pendings that Closed?
____ Preview any of the new comparables “comps” in area.
____ Give feedback on comps to Seller.
____ Check on all inquires; be they calls, emails and showings again.
____ Check on status of outgoing referral(s), if any made.
____ Check on “Tell 25” and Open House leads.
____ Held a Broker Open House? If "Yes", work on the "when" & other details.
____ Review any periodic price reductions discussed at time of listing.
____ Revise any ongoing marketing efforts, and update.
____ Review any changes with Sellers. What else do they need to be doing?
____ Update any financial alternatives or incentives for the property.
____ Discuss market trends that may have changed since Sellers first listed.
____ Devise “new” special brochures and distribute to “Tell 25” owners.
____ Mail (&/or email) out the special brochures to past “interested” parties.
____ Review e-marketing information; is it on the top websites? Is the information all complete and correct? Any enhancements you can make?
____ Follow-up phone calls &/or emails to all agents who have shown property.
____ Renew “pitch” at area agent meetings and office meetings.
____ Report any Listing Status Changes at MLS meeting.
____ Report any Listing Status Changes at office meeting.
____ Promote the listing at area businesses.
____ Schedule an update meeting with Sellers.
____ Meet in person with Sellers-get some agreement of new enhancements.
____ Discuss any offers (if any) that were turned down by Sellers.
____ Try to re-activate previous agent/buyer interest/offers.
____ Inspect newest market trends now showing and discuss with Seller.
____ Check on condition of the sign(s) on property
____ Consider what else can be done -- and ACT ON IT~
O.K. - it's your turn to share. What is something you would add to the checklist so far?
No? Let's continue then...
Property Marketing and Servicing Plan – the 2nd 30 Days
____ Discuss future plans with Sellers.
____ Send “Thank You” card to Sellers.
____ Prepare Sellers for “lower than expected” offers.
____ Discuss activity (or lack of) with Sellers.
____ Discuss efforts by you, office, ad company to sell property.
____ Follow-up on all repairs and property condition.
____ Consult with Seller on next Open House efforts.
____ Check on status of house keys/lockbox.
____ Compile list of all ongoing marketing and plan for implementing others.
____ Create a prospective Buyers list (type of buyer, and names).
____ Update CMA; any new Sales? Actives that went Pending? Pendings that Closed?
____ Preview any of the new comparables “comps” in area.
____ Give feedback on comps to Seller.
____ Check on all inquires; be they calls, emails and showings again.
____ Check on status of outgoing referral(s), if any made.
____ Check on “Tell 25” and Open House leads.
____ Held a Broker Open House? If "Yes", work on the "when" & other details.
____ Review any periodic price reductions discussed at time of listing.
____ Revise any ongoing marketing efforts, and update.
____ Review any changes with Sellers. What else do they need to be doing?
____ Update any financial alternatives or incentives for the property.
____ Discuss market trends that may have changed since Sellers first listed.
____ Devise “new” special brochures and distribute to “Tell 25” owners.
____ Mail (&/or email) out the special brochures to past “interested” parties.
____ Review e-marketing information; is it on the top websites? Is the information all complete and correct? Any enhancements you can make?
____ Follow-up phone calls &/or emails to all agents who have shown property.
____ Renew “pitch” at area agent meetings and office meetings.
____ Report any Listing Status Changes at MLS meeting.
____ Report any Listing Status Changes at office meeting.
____ Promote the listing at area businesses.
____ Schedule an update meeting with Sellers.
____ Meet in person with Sellers-get some agreement of new enhancements.
____ Discuss any offers (if any) that were turned down by Sellers.
____ Try to re-activate previous agent/buyer interest/offers.
____ Inspect newest market trends now showing and discuss with Seller.
____ Check on condition of the sign(s) on property
____ Consider what else can be done -- and ACT ON IT~
O.K. - it's your turn to share. What is something you would add to the checklist so far?
Tuesday, June 16, 2009
Getting it $OLD!
As part of the process of the REALTOR working hard to get the property they have listed for sale to under contract for sold, the following is a checklist that can be helpful in implementing the steps needed to do just that.
And a 2nd & 3rd 30 day period portion will soon be available here as a new post...
"Property Marketing/Servicing Plan – the 1st 30 Days"
____ Prepare all listing legal + MLS input forms & other company required documents for your files; begin the implemenatation of each.
____ Tour property with Sellers (note any “marketing distractions”, etc.).
____ Use a Walk-thru inspection checklist that notes any needed repairs.
____ List all replacement items and assign dates for estimated completion.
____ Decide on presale appraisal, home inspection and/or home warranty.
____ Prepare Sellers of issues relating to showings; “No shows", "Walk-ups,” etc.
____ Advise Sellers to save agent cards from showings for follow-up activities.
____ Discuss with Sellers the importance of their absence during showings.
____ Get from Seller items they may have such as floor plans, appraisals, etc.
____ Make an extra sets of keys, if applicable.
____ Schedule feedback frequency and type with Seller.
____ Take & upload photos, video and/or virtual tour of property.
____ Prepare print promotional items-e.g. a flier, highlight sheet, brochure, etc.
____ Order “Just Listed” postcards and get them mailed.
____ Install a Keybox, if allowed and appropriate.
____ Order/install post(s), sign(s) + any riders; esp. those w/ interactive text or voice.
____ Process all remaining paperwork; be sure Sellers have copies of all.
____ Prepare Sign-in sheet for property & any other point-of-sale items.
____ Contact a local lender for financial work-ups to have at property.
____ Install financial work-ups at property and any other materials.
____ Check periodically on sign condition and ask seller to notify.
____ Prepare Seller to help stock and distribute brochures/fliers.
____ Distribute promotional brochures/flyers at agent meetings.
____ Promote the property at any meetings where agents are present.
____ Check on appearance of website profiles of the property.
____ Schedule Realtor Broker open tour, hold & give Seller the agent feedback.
____ Submit ad copy on property to newspapers and magazines, if applicable.
____ Advise sellers of additional promotional possibilities and results.
____ Upload more photos (i.e. of area) for MLS & other e-marketing images/video.
____ Discuss Open House appropriateness and dates/times with Sellers.
____ “Tell 25” activities (notification of property’s availability to 25 neighbors).
____ Prepare list of alternate homes on market as “spin off” homes.
____ Double-check MLS and web-based marketing for accuracy of information.
____ Check with Seller to see if repairs have been started or been completed.
____ Compile advertising activity to date and cover with Sellers.
____ Follow-up on all showings and calls from advertising and sign(s).
____ Report follow-up information to Sellers.
____ Plan and prepare for Open House(s).
____ Conduct open house(s), if agreed upon.
____ Review open house results with Sellers; act on negative feedback we can.
____ Follow-up with open house attendees, including agents.
____ Explain “Reverse Offering” to Seller & conduct with most buyers who view the home.
____ Meet with Seller to review activity or lack of activity recommendations...or more of the details of the accepted offer on their house and what comes next...again, watch for the 2nd 30 Days list!
And a 2nd & 3rd 30 day period portion will soon be available here as a new post...
"Property Marketing/Servicing Plan – the 1st 30 Days"
____ Prepare all listing legal + MLS input forms & other company required documents for your files; begin the implemenatation of each.
____ Tour property with Sellers (note any “marketing distractions”, etc.).
____ Use a Walk-thru inspection checklist that notes any needed repairs.
____ List all replacement items and assign dates for estimated completion.
____ Decide on presale appraisal, home inspection and/or home warranty.
____ Prepare Sellers of issues relating to showings; “No shows", "Walk-ups,” etc.
____ Advise Sellers to save agent cards from showings for follow-up activities.
____ Discuss with Sellers the importance of their absence during showings.
____ Get from Seller items they may have such as floor plans, appraisals, etc.
____ Make an extra sets of keys, if applicable.
____ Schedule feedback frequency and type with Seller.
____ Take & upload photos, video and/or virtual tour of property.
____ Prepare print promotional items-e.g. a flier, highlight sheet, brochure, etc.
____ Order “Just Listed” postcards and get them mailed.
____ Install a Keybox, if allowed and appropriate.
____ Order/install post(s), sign(s) + any riders; esp. those w/ interactive text or voice.
____ Process all remaining paperwork; be sure Sellers have copies of all.
____ Prepare Sign-in sheet for property & any other point-of-sale items.
____ Contact a local lender for financial work-ups to have at property.
____ Install financial work-ups at property and any other materials.
____ Check periodically on sign condition and ask seller to notify.
____ Prepare Seller to help stock and distribute brochures/fliers.
____ Distribute promotional brochures/flyers at agent meetings.
____ Promote the property at any meetings where agents are present.
____ Check on appearance of website profiles of the property.
____ Schedule Realtor Broker open tour, hold & give Seller the agent feedback.
____ Submit ad copy on property to newspapers and magazines, if applicable.
____ Advise sellers of additional promotional possibilities and results.
____ Upload more photos (i.e. of area) for MLS & other e-marketing images/video.
____ Discuss Open House appropriateness and dates/times with Sellers.
____ “Tell 25” activities (notification of property’s availability to 25 neighbors).
____ Prepare list of alternate homes on market as “spin off” homes.
____ Double-check MLS and web-based marketing for accuracy of information.
____ Check with Seller to see if repairs have been started or been completed.
____ Compile advertising activity to date and cover with Sellers.
____ Follow-up on all showings and calls from advertising and sign(s).
____ Report follow-up information to Sellers.
____ Plan and prepare for Open House(s).
____ Conduct open house(s), if agreed upon.
____ Review open house results with Sellers; act on negative feedback we can.
____ Follow-up with open house attendees, including agents.
____ Explain “Reverse Offering” to Seller & conduct with most buyers who view the home.
____ Meet with Seller to review activity or lack of activity recommendations...or more of the details of the accepted offer on their house and what comes next...again, watch for the 2nd 30 Days list!
Tuesday, June 9, 2009
Feeling Down? Try This!
I always have felt when you have the blues, if you are a bit down in the dumps, that it's best to get busy & serve others. As Rupert Holmes sang "Get Out of Yourself". Or as Rick Warren famously opens his mega-bestseller book The Purpose Driven Life, "It's not about you."
And as Tony Robbins says ...""Get moving...exercise more...savor some sunlight!" ...knowing that (positive of each) "Motion creates Emotion".
I also suggest that you volunteer; help a worthy organization and/or individual...someone less fortunate than you. In the process of reaching out to others, you'll feel better about yourself! This will probably also help you develop, as Zig Ziglar coined, "An Attitude of Gratitude".
Lastly here, if you are looking for something else to get you into this mode of completing your check-up from the neck up, I suggest you take in Art Berg's "The Impossible Just Takes a Little Longer" - this inspirational work is sure to get you pumped up!
You can see how to get it at www.ArtBerg.com ...there are also several very good 'Archived Newsletters' that you can view for free at the website. I was fortunate enough to see him speak live and own a video of his "....Impossible..." talk; I watch it from time-to-time & it always lifts me up. Art lived with joy and brought joy to others! I encourage you to do the same.
How do you "pump yourself up"? I'd love to hear about your approaches to this!
And as Tony Robbins says ...""Get moving...exercise more...savor some sunlight!" ...knowing that (positive of each) "Motion creates Emotion".
I also suggest that you volunteer; help a worthy organization and/or individual...someone less fortunate than you. In the process of reaching out to others, you'll feel better about yourself! This will probably also help you develop, as Zig Ziglar coined, "An Attitude of Gratitude".
Lastly here, if you are looking for something else to get you into this mode of completing your check-up from the neck up, I suggest you take in Art Berg's "The Impossible Just Takes a Little Longer" - this inspirational work is sure to get you pumped up!
You can see how to get it at www.ArtBerg.com ...there are also several very good 'Archived Newsletters' that you can view for free at the website. I was fortunate enough to see him speak live and own a video of his "....Impossible..." talk; I watch it from time-to-time & it always lifts me up. Art lived with joy and brought joy to others! I encourage you to do the same.
How do you "pump yourself up"? I'd love to hear about your approaches to this!
Friday, May 15, 2009
Open for Business
One of the very best ways to launch (or re-energize) a real estate career is to develop an incredibly proactive & aggressive schedule of a veritable campaign of frequent open houses. I have seen real estate agents go from outright distress to massive sales success by doing just this!
Here's a “Quick Glance” of my suggestions for you to get "Started (or Re-started as needed) doing Open Houses":
Begin by finding listing inventory (residential resale houses for sale) that you can hold open for other agents licensed with your brokerage, if you don't have any of your own--at least ones that make good sense to hold open.
Know this: Most agents who have listings (and their seller clients) are more than happy to let you do open houses on their properties!
Ask another agent in your office/company or a manager/broker how you can get a roster of current listings with the firm, so that you can locate potential properties to hold open. (You can get some of this in the MLS, but typically not all and not always very easily).
Once you begin to locate homes that might work, choose 3-4 different ones that are the types of homes you have interest in by price, part of town, etc. so that you end up with at least one that works out being best and right for you.
Next, contact the listing agent personally (I recommend by phone, not email for this) about their listing and say something very close to this power language; words that position you as 1. a valuable resource person (instead possibly coming across as a "job beggar"), and 2. by asking in a way that is very hard for that other agent to say "No" too:
“Hello. My name is __________. I don’t know if you and I have met, but I am a agent at our company, __________. I see that you have a listing located at _________________. Looks like a sharp home! Say-I have a quick question for you: 'Would your sellers have any objection to us doing some more promotion on the home to get it sold?' (Usually the answer you’ll receive is “no”). You can clarify exactly what you want to do by saying, “I’m available to hold the property open on (date) or ______? Which would work best for your seller and you?” If the listing agent can’t give you a definite date and time, set a deadline to hear from them (usually the same day). If you haven’t heard back from the lister by the short deadline period you’ve set, call them again. Be persistent; you may need to ask more than once until you ultimately connect.
Your next step is to go physically see the property so you can be certain it is something that will likely get "traffic" (people visiting). Don’t choose a house to hold open that doesn’t show at least reasonably well. For example, if it is dark and dreary and way off the beaten path, perhaps in bad shape and/or over priced – it’s a waste of your time. If it isn’t what you really want, don’t be uncomfortable in letting the listing agent know why. This should be a property that is something you would be proud to represent!
More tips for you:
* You should schedule an open house a minimum of once a week. Even better would be to hold an open house two or three times per week. Saturday and Sunday aren’t the only days of week you can do these. Weekdays are excellent as well. You will generally get fewer people on weekdays, but the quality of prospects is usually better than on weekends, which usually have more quantity of attendees.
* Use at least 3 open house signs; 10-15 is better! However, make yourself aware of any signage restrictions. Signs are "free" advertising and if you hold open houses three days a week using, say ten signs, you will get business! Lastly, when the open house is being held, check your directional signs at least once an hour to be sure they are all still where they should be as they can fall or be pushed over, etc. If you are holding another agent's listing open ask to use their open house signs. Even better yet -- ask them to leave theirs at the property to be held open! This way you save yourself driving around to pick-them up before and then needing to drop them off someplace else afterwards. And at the very least, once the open house is over, wipe them down with a damp cloth, dry them & leave them in as good (or maybe a bit better) condition than when you got them!!! Lastly on signs, if you do borrow another agent's directional (open house) signs, take good care of them!! If one is severely damage or stolen during the time, pay for them!
* Send (by mail or hand deliver) open house invitations (a flyer, door hanger or a more traditional, formal invitation all are o.k.) to a minimum of 25 of the surrounding housing units around the home that you are holding open each time. They should be delivered one to two days before the scheduled open house.
* Another way to boost attendance of neighbors is to do another quick reminder the day of the open house. Also, put up a sign rider with the date and time of the open house.
* Be prepared with highlight sheets, property brochures, or fliers (those are names for what are usually about the same thing -- just 3 different titles for 'em) that have your name and picture (not the listing agents--if not your listing), although if it's not your own listing, the listing agent will usually have one you can modify and use. Also have copies of your "resume/bio/credentials", copies of your web site (or better yet show it on a notebook computer along with a virtual tour of the home) and maps of the area.
* Have every one who visits sign in on a "guest register" or "marketing survey" --or you can ask for them for their information and make note of it yourself. Be sure you are asking for email addresses, too. This is so you have information to be able to follow-up with them later, if desired and appropriate. You might want to offer a small drawing, or something of value to help increase attendance and to increase the completeness of your sign in’s with their valid contact information.
* Make sure you preview every other property that is for sale (new and resale) in the area (say--in a 1-2 square mile radius) that are priced 10-20% (or $25-50 thousand) higher and lower. You want to do this because you may be asked about other properties in the area and/or it’s easier for you to sell other possible properties that you have seen which match the open house visitor/buyers criteria (if the home you are holding open doesn’t meet their requirements). Know your marketplace and what’s available and you will make more sales!
* Ask for appointments to show these or other properties to these buyers after you determine that they are not already being represented as a buyer through another agent! Your objective for the time at each open house you hold is to get as many leads and appointments as possible.
So, in summary, what is the benefit to you of doing all of this Open House activity?
You will be able to meet prospective buyers and seller clients who are yours to work with towards earning you commissions! Meaning you get paid when those prospects you meet, buy that or any other house where you write the contract. If a buyer comes to and/or learns of the property through another REALTOR (who writes the offer) the other REALTOR gets paid, not you.
Again, your commission participation comes from #1, the new listings you obtain as a result of meeting the neighbors and others who put their real estate on the market with you and #2, the buyer who you assist in buying the open house, or more likely, any other resale (or new home) you eventually find buyers which result in an accepted offer on a property that closes escrow!
Hey -- you more experienced pro's -- give us some of your best Open House tips!
Here's a “Quick Glance” of my suggestions for you to get "Started (or Re-started as needed) doing Open Houses":
Begin by finding listing inventory (residential resale houses for sale) that you can hold open for other agents licensed with your brokerage, if you don't have any of your own--at least ones that make good sense to hold open.
Know this: Most agents who have listings (and their seller clients) are more than happy to let you do open houses on their properties!
Ask another agent in your office/company or a manager/broker how you can get a roster of current listings with the firm, so that you can locate potential properties to hold open. (You can get some of this in the MLS, but typically not all and not always very easily).
Once you begin to locate homes that might work, choose 3-4 different ones that are the types of homes you have interest in by price, part of town, etc. so that you end up with at least one that works out being best and right for you.
Next, contact the listing agent personally (I recommend by phone, not email for this) about their listing and say something very close to this power language; words that position you as 1. a valuable resource person (instead possibly coming across as a "job beggar"), and 2. by asking in a way that is very hard for that other agent to say "No" too:
“Hello. My name is __________. I don’t know if you and I have met, but I am a agent at our company, __________. I see that you have a listing located at _________________. Looks like a sharp home! Say-I have a quick question for you: 'Would your sellers have any objection to us doing some more promotion on the home to get it sold?' (Usually the answer you’ll receive is “no”). You can clarify exactly what you want to do by saying, “I’m available to hold the property open on (date) or ______? Which would work best for your seller and you?” If the listing agent can’t give you a definite date and time, set a deadline to hear from them (usually the same day). If you haven’t heard back from the lister by the short deadline period you’ve set, call them again. Be persistent; you may need to ask more than once until you ultimately connect.
Your next step is to go physically see the property so you can be certain it is something that will likely get "traffic" (people visiting). Don’t choose a house to hold open that doesn’t show at least reasonably well. For example, if it is dark and dreary and way off the beaten path, perhaps in bad shape and/or over priced – it’s a waste of your time. If it isn’t what you really want, don’t be uncomfortable in letting the listing agent know why. This should be a property that is something you would be proud to represent!
More tips for you:
* You should schedule an open house a minimum of once a week. Even better would be to hold an open house two or three times per week. Saturday and Sunday aren’t the only days of week you can do these. Weekdays are excellent as well. You will generally get fewer people on weekdays, but the quality of prospects is usually better than on weekends, which usually have more quantity of attendees.
* Use at least 3 open house signs; 10-15 is better! However, make yourself aware of any signage restrictions. Signs are "free" advertising and if you hold open houses three days a week using, say ten signs, you will get business! Lastly, when the open house is being held, check your directional signs at least once an hour to be sure they are all still where they should be as they can fall or be pushed over, etc. If you are holding another agent's listing open ask to use their open house signs. Even better yet -- ask them to leave theirs at the property to be held open! This way you save yourself driving around to pick-them up before and then needing to drop them off someplace else afterwards. And at the very least, once the open house is over, wipe them down with a damp cloth, dry them & leave them in as good (or maybe a bit better) condition than when you got them!!! Lastly on signs, if you do borrow another agent's directional (open house) signs, take good care of them!! If one is severely damage or stolen during the time, pay for them!
* Send (by mail or hand deliver) open house invitations (a flyer, door hanger or a more traditional, formal invitation all are o.k.) to a minimum of 25 of the surrounding housing units around the home that you are holding open each time. They should be delivered one to two days before the scheduled open house.
* Another way to boost attendance of neighbors is to do another quick reminder the day of the open house. Also, put up a sign rider with the date and time of the open house.
* Be prepared with highlight sheets, property brochures, or fliers (those are names for what are usually about the same thing -- just 3 different titles for 'em) that have your name and picture (not the listing agents--if not your listing), although if it's not your own listing, the listing agent will usually have one you can modify and use. Also have copies of your "resume/bio/credentials", copies of your web site (or better yet show it on a notebook computer along with a virtual tour of the home) and maps of the area.
* Have every one who visits sign in on a "guest register" or "marketing survey" --or you can ask for them for their information and make note of it yourself. Be sure you are asking for email addresses, too. This is so you have information to be able to follow-up with them later, if desired and appropriate. You might want to offer a small drawing, or something of value to help increase attendance and to increase the completeness of your sign in’s with their valid contact information.
* Make sure you preview every other property that is for sale (new and resale) in the area (say--in a 1-2 square mile radius) that are priced 10-20% (or $25-50 thousand) higher and lower. You want to do this because you may be asked about other properties in the area and/or it’s easier for you to sell other possible properties that you have seen which match the open house visitor/buyers criteria (if the home you are holding open doesn’t meet their requirements). Know your marketplace and what’s available and you will make more sales!
* Ask for appointments to show these or other properties to these buyers after you determine that they are not already being represented as a buyer through another agent! Your objective for the time at each open house you hold is to get as many leads and appointments as possible.
So, in summary, what is the benefit to you of doing all of this Open House activity?
You will be able to meet prospective buyers and seller clients who are yours to work with towards earning you commissions! Meaning you get paid when those prospects you meet, buy that or any other house where you write the contract. If a buyer comes to and/or learns of the property through another REALTOR (who writes the offer) the other REALTOR gets paid, not you.
Again, your commission participation comes from #1, the new listings you obtain as a result of meeting the neighbors and others who put their real estate on the market with you and #2, the buyer who you assist in buying the open house, or more likely, any other resale (or new home) you eventually find buyers which result in an accepted offer on a property that closes escrow!
Hey -- you more experienced pro's -- give us some of your best Open House tips!
Tuesday, May 12, 2009
One for Owner/Broker Types - Recruiting Agents
Yikes--I caught a flu and have been out & away from business for a week or so...
Although in my current role for my primary "day job" as the Director of Agent Development for HomeSmart Real Estate, I am not involved in the hiring of real estate agents (although some have commented, looking at my title, that it sounds as if I am), I have done/performed those duties for many years, having recruited around 1,000 over the years. As a result, I am asked for guidance by those whose job it is to do that -- to sign up agents to join/hire on with their realty brokerage.
Most of my failures in recruiting have been all mine (the "error" part of "trial and error") and most of my successes were a result of what I learned from others and in just committing to the activity when called upon.
Should you ever want/need insights into recruiting, I have had many weeks of training & coaching on the subject, primarily through the following 3 "Top Real Estate Agent Recruiting Experts", each of whom I have listed below for your consideration -- and who I would highly recommend each one of them to you!
Here are those recruiting guru's & their websites:
1. Jim Gilreath - www.RecruitTheBest.com
2. Carol Johnson - www.RecruitingPipeline.com
3. Steve Friedman - www.SteveFriedman.com
I also know of, and have heard good things about (but I don't know first-hand of their systems),
this lady-
Judy LaDeur - www.RecruitingWithJudyLadeur.com
and this gentleman-
Rich Casto - www.TheRealEstateRecruiters.com
===
As it is with real estate agents in their business development activities for clients, there are so many different ways to attract and retain good agents. I encourage you to reach out to one or more of the five folks mentioned above, & if I can ever be of assistance in answering your questions in this regard, please consult me.
Although in my current role for my primary "day job" as the Director of Agent Development for HomeSmart Real Estate, I am not involved in the hiring of real estate agents (although some have commented, looking at my title, that it sounds as if I am), I have done/performed those duties for many years, having recruited around 1,000 over the years. As a result, I am asked for guidance by those whose job it is to do that -- to sign up agents to join/hire on with their realty brokerage.
Most of my failures in recruiting have been all mine (the "error" part of "trial and error") and most of my successes were a result of what I learned from others and in just committing to the activity when called upon.
Should you ever want/need insights into recruiting, I have had many weeks of training & coaching on the subject, primarily through the following 3 "Top Real Estate Agent Recruiting Experts", each of whom I have listed below for your consideration -- and who I would highly recommend each one of them to you!
Here are those recruiting guru's & their websites:
1. Jim Gilreath - www.RecruitTheBest.com
2. Carol Johnson - www.RecruitingPipeline.com
3. Steve Friedman - www.SteveFriedman.com
I also know of, and have heard good things about (but I don't know first-hand of their systems),
this lady-
Judy LaDeur - www.RecruitingWithJudyLadeur.com
and this gentleman-
Rich Casto - www.TheRealEstateRecruiters.com
===
As it is with real estate agents in their business development activities for clients, there are so many different ways to attract and retain good agents. I encourage you to reach out to one or more of the five folks mentioned above, & if I can ever be of assistance in answering your questions in this regard, please consult me.
Wednesday, April 29, 2009
Just Say "Real Estate Agent" Instead?
Not that most (if any) readers here give a darn about things that bother me, but just so you know one of them, I am now identifying one of my major pet peeves--that being the mispronunciation of the word "REALTOR®”.
Understanding this, also know that (as my wife likes to remind me), I routinely mispronounce other words. So this post is not meant as an elitist criticism from a stuff-shirt ex-English college major (or former grammar teacher), but rather is just me trying to do my part in attempting to make you sound even more professional than you already do (a difficult task I am sure)-- if you have been one of those folks that has said the word REALTOR incorrectly.
By the way, some of the (otherwise) sharpest Realtors I know of say the word REALTOR improperly.
To me it's certainly one thing when non-REALTORS say it wrong (i.e. members of the media or consumers), but another thing altogether when those who should know better--e.g. Realtors or others in related industries (such as title & escrow or lending) mess it up.
Upon hearing me discuss the correct pronunciation of "REALTOR", a loan officer once remarked to me " That's why I just say 'Real Estate Agent' instead." Go figure.
So to be correctly pronouncing the word “REALTOR®”, first know that “Realtor” is said properly with only two syllables, not what I frequently hear; three syllables. As it is often said...“Real-ah-tor” or “Real-i-tor”...nor is it proper to call a real estate brokerage (a realty firm) a “real-i-tee” company.
If it helps you to get it right (or explain it to others), think of it this way. When you are not feeling well, you do NOT go to a “DOC-A-TOR”. You go to a “DOC-TOR!”
Understanding this, also know that (as my wife likes to remind me), I routinely mispronounce other words. So this post is not meant as an elitist criticism from a stuff-shirt ex-English college major (or former grammar teacher), but rather is just me trying to do my part in attempting to make you sound even more professional than you already do (a difficult task I am sure)-- if you have been one of those folks that has said the word REALTOR incorrectly.
By the way, some of the (otherwise) sharpest Realtors I know of say the word REALTOR improperly.
To me it's certainly one thing when non-REALTORS say it wrong (i.e. members of the media or consumers), but another thing altogether when those who should know better--e.g. Realtors or others in related industries (such as title & escrow or lending) mess it up.
Upon hearing me discuss the correct pronunciation of "REALTOR", a loan officer once remarked to me " That's why I just say 'Real Estate Agent' instead." Go figure.
So to be correctly pronouncing the word “REALTOR®”, first know that “Realtor” is said properly with only two syllables, not what I frequently hear; three syllables. As it is often said...“Real-ah-tor” or “Real-i-tor”...nor is it proper to call a real estate brokerage (a realty firm) a “real-i-tee” company.
If it helps you to get it right (or explain it to others), think of it this way. When you are not feeling well, you do NOT go to a “DOC-A-TOR”. You go to a “DOC-TOR!”
Remember: there's only 2 syllables in the word; REAL-TOR.
In summary, be sure to spell and pronounce the word REALTOR correctly. If you are one, you do belong to the nation’s largest professional trade organization, so you --especially-- proudly state the word right- REALTOR!
Please help spread the "good word" on this!
P.S. To those that love to "correct the corrector", I add this bit; Yes, I am well aware of the NARs guidelines on usage of the word REALTOR® as it relates to use of all CAPS and the ® symbol...I have used it here without one or both several times now--but I HAVE always capitalized the first letter...and I am pronouncing it correctly.
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