realtor

Are foreclosures really coming?

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The foreclosures are coming, the foreclosures are coming…that’s all we see in newsletters, emails and hear about in real estate circles.  Well, is this really the case in Northern Virginia?  Here is a quick update on foreclosures and short sales in the five largest market areas in Northern Virginia and how we buck the national trend.  It will be revealed why I don’t believe our foreclosure problem will be as great or as devasting as the rest of the country. 

It is truly amazing how many Americans are behind in their mortgages and for how long they have been behind.  The number of people who are delinquent has dropped but it is still at a phenomenal number – 6.373 million – 1.844 million are more than 90 days late. What and how does this mean to our region?  Only time will tell but if you look at what, in my opinion are leading indicators, we may be more sheltered than the rest of the country.  As I see it, trustee sale notices are one leading indicator as they inform the public when an auction will take place on a property where the home owner is delinquent.  Second is short sale activity and as you will see, we have, as a percentage, a very low number of short sales on the market currently and as many of us know in the business, many short sales do not get approved which eventually lead to foreclosures.  In addition, if waves of foreclosures were to hit the market, could they be absorbed and as you will see from our month’s supply of houses, we are in pretty good shape.  And lastly, distressed property inventory makes up just over 18% of our total inventory but it makes up just over 35% of our total sales which reflects people want a perceived bargain and find distressed properties as their avenue to take advantage of this buying opportunity. So let’s take a look at the numbers.

In Arlington County there are currently 11 foreclosures, 20 short sales and there is a 2.9 month’s supply of homes.  I would say that Arlington is safe from an onslaught of foreclosures as the number of distressed properties is minimal and the absorption rate of properties is extremely strong.  We need more inventory of all properties in Arlington so bring on the foreclosures. 

In the City of Alexandria we have 20 foreclosures, 38 short sales and a 2.9 month supply of homes.  Is this market primed for more inventory, of course it is and investors love the location and amenities of Alexandria so absorbing any foreclosure inventory should not be a problem.

Now, let’s look at the Fairfax County, our most populated county in the region.  The numbers are 168 foreclosures, 336 short sales and a 2.6 month’s supply of houses.  Very low numbers in the overall scheme of things, don’t you agree?

Let’s wrap it up with two of the outer counties, Loudoun County and Prince William County.  Loudoun has 60 foreclosures, 139 short sales and a 3.2 month supply of houses.  Their month’s supply of houses is creeping a little higher but overall, it is still a seller’s market and properties are moving.  Prince William has 106 foreclosures, 237 short sales and a 6.8 month’s supply.  Again, all are manageable numbers except for the month’s supply of properties which indicates a buyer’s market but from a National perspective still in better shape. 

Let’s review, fewer trustee sale notices + fewer short sales = less foreclosures.  Until the trustee sales in Northern Virginia pick up, I don’t believe our market will have to endure a rash of foreclosures but if it does, we can absorb the inventory.  The only wild card that I see is what the banks have foreclosed on that they don’t have on the market and/or are letting people live in mortgage payment free that they haven’t evicted yet.  Is this number big one or a small one?  Only time will tell.  You have to know your numbers to paint the picture properly to your clients.  Get it?  Got it?  Good!

Now, go sell something!

 

Top Prodcers meet to discuss the market

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It is hard to believe it was the second Thursday of the month already…time and summer sure fly by fast!  Here is what the Top Producers in real estate had to say this month.  If you have questions you would like me to pose to them, please let me know.

Negative news is everywhere.  Some websites even post good news one day and negative news the next.  How do you handle it and when will it stop?  Tell people to look at time frame of ownership – long terms hold will have fluctuations no matter what the investment is – stocks, gold and housing.  Show stats of our area being number one in appreciation month over month.  We are seeing incremental price increases in lower prices.  The news is reporting what is true across the country, we are just jaded because our prices are stable, unemployment is low, and pay rates are low plus they can’t sell houses.  Use the bad news to get price reductions.  Talk about the “cost” of money today and how great rates are compared with other years.

The government will come to an agreement on the deficit so we don’t lose AAA status, rates will stay low and the dollar won’t devalue.  Both sides of the aisle on Capitol Hill will do the right thing and make it happen because if they don’t, we all lose.

Control your closings – select the title company to get information on the lender when agents fail to give you Form 100 – removing financing contingency.  The bottom line is too many agents are not familiar with the contract or the process.  Agents need to be educated and then educate their buyers.

Interest rates have increased recently, have you seen any effects on the market?  Everyone agrees that nothing has really slowed down.  The market remains stable.

Where is the market?  Contracts have slowed down in Loudoun and Prince William counties, agents are busy listing houses and trying to find where the prices should be on their listings and trying to find buyers.  Townhouses are selling well in Western Fairfax County – singles are lingering on the market.

Appraisals are problems for some not for all right.  Appraisers are still coming from outside the area to and are appraising properties low – herein lies the issue.  We need market specific appraisers every time.

What are you going to do the second half of the year?  Some agents are hiring coaches for the second half of the year, focusing on new home construction, and one is bringing in vendors to open houses to provide gift cards to agents who attend.  Others are calling their sphere more frequently and generating leads this way.

The discussions today were lively so it is better to attend if you qualify then just by reading the notes.  Get it?  Got it?  Good!

Now, go sell something!

 

Do they really like you?

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Likability is one of the critical areas for success in sales and in life.  As the saying goes, people do business with those that they know, like and trust. So the question becomes, how do you get people to like you? 

The first step is to become approachable – smile, make eye contact, extend a handshake first and introduce yourself first.

Listen more than you speak – people love the sound of their voice and to voice their opinions.  Listen, don’t interrupt and be respectful of others opinions.

Much like the sound of their voice, they love to hear their name.  Use their name – it not only will make them happy but it will reinforce and help you remember who they are when you see them later.  Remember and acknowledge dates that are important to them – birthdays, anniversaries, and birthdates of their children are just a few!

Deliver on what you promise and be true to your word.  Your reputation takes years to build and you do it one day at a time one interaction at a time.  Remember, each encounter is extremely important to the other person you are meeting with – make it count for them!

Become solution oriented for others.  Help them solve what issues they are encountering and it will endear them to you.

Be humble – don’t brag, put down or show a huge ego.  Let your actions speak for you not your words.

Respect others and be empathetic.  Don’t talk down to people or ignore their needs or wants.  You don’t always have to agree but take the time to understand where they are coming from in with their point of view.

Be happy, positive and upbeat.  Optimism goes a long way to having people like you.  Negativity, snapping at people, complaining and putting others down is ways to drive people away from you.

Act professionally in your appearance, your demeanor,  your actions and remember to be polite – it will go a long way to adding to your likability.

Be honest and show integrity.  When people lie, exaggerate or stretch the truth, people will see through this over time and you will lose credibility and in turn, it will hurt your likability factor.

Be inspirational, motivational and last but not least have a great sense of humor.  Be able to laugh and do it often.  People like to be around people who are fun.

These are just a few thoughts to help you get further in life faster.  Get it?  Got it?  Good!

Now, go sell something! 

An Xplosive amount of information!!!!!

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We recently went to the Xplodethis Conference – a quick hitting, action packed, content rich event that offered the latest in real estate technology and some of the best speakers in the industry.  Here are the notes that will be helpful to you and your business!

MRIS – 12,000 agents have not done a transaction in the last year, 13,000 have done fewer than 3 transactions – basically 40% of agents don’t do the business!  If real estate is your business, technology is your platform – you have to get on the technology bandwagon to be successful!

Mobile is where it’s at for the consumer AND agents – have data on demand in your hand!  We are still in a people business – technology only helps you communicate.  In the next 3-5 years, more searches will be done a mobile device than PC. 

Study of consumers:

  1. Last 10 years – #1 complaint is not enough or lack of communication
  2. This year – consumers feel they are MORE educated about the product than the agent

Top 5 uses of tablets

36 new tablets will be released this year in this market – top 2 – Ipad2 and Motorola Xoom

  1. Data on demand
  2. Real estate searches – Realtor.com has high res. photos
  3. Planning calendars/Contacts
  4. Presentations – shows content and value
  5. Video capability

Top 9 Apps

  1. Realtor.com – can draw a circle around where your clients want to live
  2. ReaddleDocs/PDF Expert –iPad – opens PDF files
  3. Sign my pad – iPad – signature application
  4. Karl Jeacie’s Mortgage calculator
  5. Evernote – voice audio now
  6. Dropbox
  7. Cam card
  8. Cam scanner
  9. Hootsuite – manages all posts to social media

Today’s consumer is multi-media, multi-taskers – find people who would not normally find you

  • Watch TV while surfing the we
  • Surf magazines and scan QR codes
  • On phone and laptop at same time
  • 85% of people find your website other than direct search
  • Your marketing shouldn’t cost you money, it should make you money
  • Check out Agents of Change

Let people know you are Realtor – direct FB, Twitter, Linkedin to your blog where you talk about real estate and incorporate 365 things to do in your area

Use video – neighborhood videos, personal videos of clients about neighborhoods, schools, etc.

Use location – 4square and learn how people are looking to find locations

Use Twitter – use as an educational tool to do your job better – research think tanks, follow experts, get information and share and use in your business.  Find answers for people

Blog – neighborhoods, business, and valuable content so you receive leads!!!  Work your butt off as it is not a magic pill be consistent, be persistent and don’t quit – don’t be afraid to have an opinion – find a unique place and unique vision.

Google –

  • Google.com/Picasa – group resizing, renaming, add to Google maps, collage, add to Facebook, post to Youtube movies
  • Google.com/Voice – transcribes voicemail, sends text message and you can call back
  • Google.com/Latitude – lets you see where someone is at all times with their permissions
  • Google.com/Sync –allows you to sync all mobile devices at one time to calendars
  • Goog.gl – URL shortened – similar to tiny URL – creates Analytics and QR codes automatically
  • Google.com Maps – you can send maps to their GPS or as an email look at Matt’s video on how to use this feature www.
  • Google.com/PowerMeter – monitors the power usage at your home but needs to be compliant with power companies
  • Google.com/Add URL – use for adding every post you put on internet
  • Google.com/Alerts – monitors information on what you want to follow and helps you monitor your online reputation – yourself, your listings & share with your clients, your company, your competition
  • Add where your listing is located – Vienna, Fairfax County, VA – in MRIS to get better mojo in Google
  • Google.com/Places – add your business address and you can get analytics from it as well

14% of people trust what you say about 91% believe what others say about you – peer recommendations are so important today – go to rate-an-agent on Google and see what happens.

Sites where agents can be rated – you are being rated so you better check out what people are saying about you

  • Homethinking
  • Incredibleagents
  • Ratemyagent
  • Mountainofagents

Need to have a plan to ask to recommend you – please go to www.blah/blah/blah.com and ask to recommend you there…Don’t take my word for it – see what others say!

Solution

  1. Compete.com – search to see which site is best
  2. Facefied.com – aggregates all of your reviews so you can put a badge on your email, website, etc. and have people look at and review you

People want sold data from your website

302 million people are considered mobile users – more texts are sent than phone calls being made

Mobile web is growing 8 times faster than traditional web did 10 years ago.  Incorporate mobile into your listing presentation and speak about your solution to this for your clients.  Lower bounce rates and higher capture rates with mobile website.

Video optimization – video=leads=$ – video houses, your profile, and testimonials.  It’s not about what you think – it’s about what they Google!  Become a local provider of content that national companies don’t have the capability to provide.

Universal SERPs Results – 84% Informational – 18% Navigational – 8% Buy from me sell with me – do “how to” videos.  Do “Town Tours” – restaurants, schools, politicians, shopping centers, new homes, etc. and tag them properly.

Most Googled term is “how to” – how to move, how to fix a plumbing issue, how to anything and

Clients want to see video 6 times to 1 over text.

84% of rankings on Google come from Youtube videos

Keep it short – under 2 minutes, use fluid head tripods – no Blair Witch production, make it slow when panning & tilting, don’t zoom in and out, always be in focus, have external microphones, lighting – use white balance/Iris, Rule of thirds – be off to one side or the other but not in the middle.  Rotate male and female voice overs if you are going to do voice overs.  Talk about benefits and features not the layout because they can see it in the video.  Always use studio lighting to hide shadows.  Make videos about what the consumer wants!!!

RPR is for Realtors only and provides tons of content for our clients – gotta see to believe!

Tips for a better website

  • Quick to load is important
  • Don’t want to have to scroll side to side to see all of the content
  • Upper right should be content information – your contact information is preferred here with a form to contact you
  • Don’t use stock photos on your site
  • Use video or professional photographer
  • Work for the client not the commission – don’t use these things (don’t use honest, integrity, etc.)
  • Don’t use featured listings
  • No one cares what you look like – photos of you shouldn’t highlight site
  • Website shouldn’t be built to appease sellers it is used to get new clients
  • Consumer wants to search – giant section and easy to find
  • Valuation models on site too
  • How’s the market?
  • Hyper local information on site.
  • Use Madlib example on your forms
  • Tribusgroup.com/shredder – thanks Eric

QR code on brochure box flyers should drop you into your mobile website

  • Have a personal website
  • Actively market your website
  • Get mobile
  • QR codes on fliers
  • Get social on your website

Use tools that work best for you – video, digital signatures, and mobile devices are extremely critical today for Realtors to use and understand – don’t forget to USE YOUR OWN BRAIN

iPad is a great tool for agents to learn AND use effectively

Marketing and prospecting in real estate – how we receive information today is different than in the past but people still want to be reached out and touched.

If you are a knucklehead in the office you are probably worse on line

Every form of marketing reaches a specific audience – know who you are trying to reach and why.

AVM’s are strictly a baseline and are still not quite there.  Let’s you know if you are in the ballpark but remember they have a huge margin of error.  Set expectations of everyone in the process that there is a margin of error.

Use RBIntel to help support your offer or make a better one!  The stats go back 5 years…

If I were starting today – where would I begin to build an online presence?

  • Make it easy to search for homes
  • Create community landing pages
  • IFrame search into your listing page
  • Need lead capture – don’t have outside links on your site
  • Get local – talk about the community
  • Create content want to share
  • Publish more
  • Measure your results
  • Do a self-audit of your website

Social Media is relational not transactional

  • Provide real time breaking news in their city
  • Things to do/events
  • Every deal in driving radius of their house
  • Automate your updates – maintenance free
  • Social commerce – groupon/living social $25 for $1,000 cash back at closing when buying or selling a house with RE/MAX Gateway
  • Social discovery – drives social commerce
  • Airbnb is the Groupon of 2011 and will create real estate liquidity – your room for rent, your basement for rent, etc.
  • Become a media star through automated messages
  • Become indispensible resource to your clients

Track your customers, leads, contacts through CRM

Leads are:

  • Bogus
  • Suspects
  • Or real prospects

CARMA – Client Acquisition Relational Management Acquisition

Initially set up as a forecasting tool for Fortune 500 companies to project earnings

Understand CRM

  • What
  • Why
  • And, then how

A good CRM system integrates MLS data and transaction data

Intangibles of success in real estate

  • Likability – can you control it?  Yes!
  • Be intentional about your actions – if your actions depended upon someone liking you or not and this determined whether or not you were able to feed your kids do you believe you control your actions
  • Perception is reality.  There is a perception of you in the marketplace and you can’t control it – craft your message you want others to believe and get the perception to the public.

Reason for success of top 100 companies

  • Speed of implementation of systems
  • Take action

CRM is a strategy for managing a company’s interactions and engagements with customers, prospects and clients.

Today we are dealing with Social CRM – advocacy, experience, service support, marketing, PR, sales on a relational basis.

Involves technology to create the best type of CRM

  1. Organize
  2. Automate
  3. Synchronize business practices

Success marketing – putting your plan on paper

How many lead sources do you need to be intentional and direct about growing your business – 4 to 6 – these include but are not limited to your sphere, niche market, online, networking, farming, etc.  Put them in groups and market to them differently.

What data should you collect – personal profiles, demographics, and conversations.  Why?  To build the relationship!

What do you send to whom and when.  Think about this seriously.

Stop drip campaigns and create or start a two way conversation.  Send valuable content, have a call to action, and the human interaction is critical.

Communicate to connect with people, don’t talk at them!

E+R=O

E=Events in your life

R=Response to those events

O=Outcomes

  • Events happen to everyone
  • It’s not the events that cause you to be or feel the way you do, it’s your choice of response
  • There are always at least two responses to every event

How do we learn how to react?  Parents influence is the number one way they respond.

Nobody makes do you anything – you choose your response.  An example is “he made me so mad” – he didn’t make you mad, you chose to be mad.

Everyone has an emotional checking account – think, is there a different way to respond to events?  Our account is full at the beginning of the day and the events we encounter make us write checks for each one we have.  Think before you write you check and don’t write a $5 check for a $.50 event.   

Don’t let self-help turn into shelf help – use what you learn!

Wrap-up – get yourself a mobile device.  By 2012, more people will use mobile devices instead of personal computers.  We are in a “freeware” environment but it will become “payware”.  Data is king – provide the right tools to get the right information out clients.

In today’s ever changing real estate market, you need to stay ahead of the curve.  Get it?  Got it?  Good!

Now, go sell something!

Watch out for scams!

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Agents, title companies and sellers beware.  There is a scam that is out there that is hurting our industry.  If you receive a contract from, hear or read about buyers from out of the country that are looking to pay cash for a house, that want to settle quickly, want to use your “reputable” settlement company and have never seen the house, run fast as you can from this situation.  They will promise to wire the funds to your title company or the real estate company once the contract is ratified – usually late on Thursday or on a Friday – conduct a home inspection through a friend or relative over the weekend, then void the contract and request their funds be wired to their account by Monday or Tuesday at the latest.  What is the problem you ask?  The wire transfer is counterfeit and everyone gets caught in the middle and the buyer receives money that was never theirs from the title company or real estate office.  In some scenarios, they will say their country won’t allow them to wire the funds but will have their friend or relative drop off a certified check.  These funds too are counterfeit and the funds should not be released to the buyer unless verified they are valid funds.

What can you do to prevent this you ask?  First, make sure they have seen the house – not just pictures on the internet.  You wouldn’t buy a house this way and only a very few select people would – military or investors being ones that come to mind.  Also, do as we do, Google the buyer, the buyer’s agent and the lender on every case.  See what you can find out about them.  See if they are on social media sites like Facebook or Linkedin.  Learn all you can about them.  In addition, check DPOR and see if there are any outstanding violations with the agent at the state level as they too may be in on the scam.  Conduct your due diligence – ask to see “proof of funds” from a reputable source and Google the source if you are not familiar with them.  And lastly, don’t accept the contract until the funds prove to be valid which can typically take 3 to 4 days of deposit into an account.

Here are examples of what other agents are receiving from the web.  They may take on different forms of these emails so be on the alert.  Some agents believe this to be a scam to sign up for Docusign but it is really a scam to get money.

One agent received a lead through Realtor.com

Att. Please i will need an offer on this,

Thank you very much for the email, I would like to purchase this property MLS # 4214263, located at 15380 Little Stone Way Alpharetta.  The indicated price is $613,000.00 Please note my offering price is $600,000.00 Please send me the contract for this property and the following phrase should be added on the contract.

1. I will want to close on 12th June, 2011

2. I want to put down $30,000.00 Earnest money

3. I want to put contingency on inspection on the contract.

I and my wife will be buying the property and the buyers name should be. Leo Thang and Jiao Thang. Our address is 4645 Jane Street, Toronto Ontario Canada M3N 2K9

Please forward me a purchase contract agreement via docusign format, their website is http://www.docusign.com/ or any other electronic document I don't have access to a printer or scanner here therefore I can not sign and send it back in PDF format I am in a remote area now and i will like to do the signing myself on behalf of my wife.

I would also like to use a reliable title company for the closing. Kindly advise regarding this issue.

Thanks for your understanding. I await the purchase contract agreement as soon as possible.

Regards,
Leo Thang
Tel;003463236828

And some just receive leads through email…

Larry Sabo – Realtor in California

Dear Larry Sabo,

Att. Please i will need an offer on this,

Thank you very much for the email, I would like to purchase this property MLS # 116400, located at 3403 Beaver Brae Dr South Lake Tahoe, CA 96150.The indicated price is $659,000.00 Please note my offering price is $640,000.00 Please send me the contract for this property and the following phrase should be added on the contract.

1. I will want to close on 13th June, 2011

2. I want to put down $30,000.00 Earnest money

3. I want to put contingency on inspection on the contract.

I and my wife will be buying the property and the buyers name should be. Leo Thang and Jiao Thang. Our address is 4645 Jane Street, Toronto Ontario Canada M3N 2K9

Please forward me a purchase contract agreement via docusign format, their website is http://www.docusign.com/ or any other electronic document I don't have access to a printer or scanner here therefore I can not sign and send it back in PDF format I am in a remote area now and i will like to do the signing myself on behalf of my wife.

I would also like to use a reliable title company for the closing. Kindly advise regarding this issue.

Thanks for your understanding. I await the purchase contract agreement as soon as possible.
Regards, Leo Thang

As you can see, Leo Thang is just one person attempting this across the country – there are sure to be others.  Become educated on the red flags, stay on alert for anything unusual similar to this situation, and keep yourself and your sellers from becoming victims of a scam.  Get it?  Got it?  Good!

Now, go sell something – legitimately!

 

What’s up with our market?

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There are home buyers out in Northern Virginia but they are savvy, price sensitive and condition critical.  As we have seen in the papers, read online, and heard on the news, the rest of the country is experiencing a double dip in home prices, and waves of foreclosures are going to hit the market spiraling prices even further.  All of this has made buyers in our area become very cautious and has lowered consumer confidence nationwide. 

Why do you ask are they this way?  Well, most of them are from someplace else and they have seen streets riddled with real estate signs, are from areas that have a 41 month supply of houses versus our 3.1 month supply of houses or have friends and relatives who have been unable to sell their house in other parts of the country.  This has an impact on their buying decision here and yes, they hear our area is different and understand the underlying reasons why our market is strong but they are still looking for “a deal”.  They scrutinize each property looking for excuses not to buy them versus finding reasons to buy them.  When there is a home that offers the right price (often below market)  that has been staged (painted in neutral or trendy colors, new carpeting and de-cluttered), in perfect condition (no broken window seals, leaky faucets, etc.) and in a great location (backing to trees, end of cul-de-sac, etc.) they swarm on this property like vultures.  Many times we will encounter multiple offers on these types of properties and see them escalate above list price.

If you are a seller and your home hasn’t sold, what should you do?  Lower the price – it is the least common denominator and makes up for many areas where the home may be lacking such as in condition or location.  Get the home staged, by a professional.  You could also offer a higher commission to the buyer’s agent as an inducement to sell your house.  Many sellers or listing agents are offering a lower commission as many buyer agents have accepted lower commission rates in the past few years  as a result of short sales and foreclosures (banks) only paying a lower fee so paying more can set you apart from the competition.  Be ready to negotiate to get your house sold.

If you are a buyer, what do you do?  You should be ready to be in competition if you are looking for the perfect house at the perfect price and be prepared to include an escalation clause with your contract.  As was mentioned early, these properties are typically seeing multiple offers that go above list price.  Buy a new home – pick your own colors, location, and avoid the competition.  Many builders have adjusted to the market and are priced to sell.  Make an offer on an almost perfect house and see what happens.  Often times, as homes stay on the market and sellers have many visitors with no contracts, they tend to be more reasonable with what the market is telling them in regards to pricing.  The idea for buyers is to just buy.  The housing affordability index hasn’t been this high since 1979!  Interest rates are at their lowest level this year and prices are reasonable plus, we have jobs and stability in our market place.

If you need to sell, this is a great time to do so.  If you are a buyer, you shouldn’t delay – prices and rates are not going to get lower in our area making this an opportunity of a lifetime.  Contact your RE/MAX Gateway professional today and get packing!

Don’t just survive…thrive!

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Here are some strategies to help you not only survive but thrive in today’s market as shared by RISMedia panel members.

Provide a newsletter that has helpful tips whether you do it or you pay for a service, get a monthly, informative newsletter or market update to send to your sphere of influence.  Don’t let someone else be the buzz in your client’s ear.

Explain the numbers, your knowledge of the market and get the business – you have to educate yourself on market trends so you know what to say so you can differentiate yourself from other Realtors.

How do you answer the question, “how is the market?” – What’s your answer?  Think about this, become an access point for relevant up-to-date information to everyone you encounter.  Don’t just respond – it’s unbelievable or I’ve never been busier or it’s great and I’m never too busy for your referrals.  Provide them with information.

For sellers

Ask questions and listen when you are on listing presentations:

  1. What is it you want to do?
  2. Why is this move happening?
  3. How soon do you want to act?
  4. Who is responsible for making decisions?
  5. What has to happen to make this happen?
  6. What is plan B if the house doesn’t sell?
  7. What is the worst case scenario?
  8. What is the best case scenario?
  9. Tell them, we want to get you the highest, most realistic price.

The market is not reacting to your price so we are now getting closer to your plan b – is this ok with you?

Take professional pictures and use full screen photos on the internet.  Buyers go to the internet first so you have to make the best first impression on line.

Position yourself differently in the market place.  When listing the house you will be merchandising, staging, and pricing the property to sell.

For buyers

When working with buyers, use the housing affordability index to motivate buyers to buy.  Housing affordability is at its highest point since 1979.  If you are working with Millennia’s state, there has never been a better time to buy a home since your parents bought their first home.

Only work with committed people

Don’t do it for the money…Educate the buyer or seller and focus on their goals and the money will follow…

Commit to make a difference in someone else’s life.

Excellent tips to build urgency in buyers:

Remember, it is always about the consumer:

  • Convert wants to needs
  • Lifestyle marketing – appeal to the lifestyle of the buyer you are looking to sell to.
  • Ask “right” questions to learn more about them, their needs and to better serve them.  Schedule a buyer interview to set yourself apart.
  • Younger Consumers want Community – build urgency through the ability to be in their community – bike to work, coffee shops, environmentally friendly buildings, free Wi-Fi, etc.

Know why your people buy.  In a recent survey of home buyers and their Realtors – look how they answered these question of why they bought.  85% of Buyers bought for appreciation.  89% of Agents who sold them their houses said appreciation wasn’t a reason why they bought.  Get to know your buyers and their reasons for buying and the referrals will follow.  Don’t and they won’t.

For you to think about

You set the temperature for your future – don’t be a thermometer and respond to the temperature.

If you are not already on Linkedin – here are some reasons why should be:

Seven Reasons for utilizing Linkedin:

  1. Highest household income of any social site
  2. 45% are household decision makers
  3. Can import/export contacts
  4. Professionals involved in this site, not kids, college students, etc.
  5. Social way of contacting professionals
  6. Target “groups”
  7. It can be automated

Continually ask yourself and assess yourself by asking:

On a scale of 1 – 5, 1 being the lowest and 5 being the highest, how would you rate yourself on the…

  • Use of technology
  • Prospecting
  • Sales skills
  • Negotiations
  • Average sales price

Get with a coach or mentor and work on the areas you need the most improvement.

Important things to keep in mind to grow your business

  • Build Your Skills
  • Shift your mindset
  • Agents cause their own market
  • Show up and use what we provide
  • Hold up a mirror and ask – are you doing all you can?
  • Become intentional about leads

Now that you are armed with a few additional pieces of information, take the time to implement one or two at a time to make yourself a better listing agent, buyer agent or business person.  Get it?  Got it?  Good!

Now, go sell something!

 

 

 

 

 

 

 

Selling your home? Avoid these mistakes!

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Top 12 Seller Mistakes and how to avoid them if you are looking to sell your house:

  1. Selling on your own.  There have been so many changes in financing, contracts, and regulations that it is difficult to keep up with if you are not in the business learning and keeping up with these changes you can get burned at the last minute.  How will you navigate the process when things go wrong with no experience in how to handle the types of problems?  The business is changing exponentially virtually daily.
  2. Not hiring a true professional.  A true professional in the business is someone who is actively selling houses and participating in continuous training – not just someone with a license.  Nearly 40% of licensed Realtors did not sell a house in the last 12 months.  Be sure your agent is a true professional who is keeping up with the changes in the market, trends, contract changes and all other aspects of the business.
  3. Not listening to the advice of your professional.  Some owners will hire an active agent in the business, listen to their advice but then take over “the driving” of the listing by dictating the pricing, condition, showing details, negotiations, etc.
  4. Not hiring a stager.  Some sellers fancy themselves as decorators, interior designers, etc. saying they know how to put their property in the right condition to sell – well, it doesn’t help in most cases.  If your agent isn’t an Accredited Staging Professional – hire one and do all that they tell you to do to sell your house.
  5. Not doing what the stager or professional suggests.  Yes, some people will hire professionals and not take their advice or delay in making the changes suggested.
  6. Not following the advice of feedback presented by agents who show the property quickly or in a timely manner.  Agents who are actively previewing or showing properties have the best perspective on the market.  Their buyer’s feedback is the heart of the market and its conditions so their input should be carefully considered and followed – with the advice of your agent.
  7. Not maintaining the “right” condition of the property during the sale process.  Many times, especially as time goes on in the marketing process, sellers won’t make beds, load the dishwasher, keep the blinds open, etc. and that is when the property will be shown.  It is a difficult process but it must be followed because you don’t know when the next showing will occur.
  8. Pricing the house a little high for negotiations.  Pricing is extremely critical.  What happened last month, last year or when you bought your house doesn’t matter in today’s market.  Buyers are looking for houses that are priced right – which in many cases, is a little below what the last sale was in the neighborhood.  Pricing a little low may also generate multiple offers and allow you to attain a higher sales price.
  9. Not utilizing a lockbox to grant access – appointment only will hurt the number of showings and thereby extend the length of time the property is on the market which will lead to frustration on everyone’s part.
  10. Not leaving during the showing process – it is uncomfortable to the buyers and they won’t provide the best of feedback.
  11. Not negotiating contracts that come in – no matter how low.  Sometimes buyers or their agents will see how low they can go before they will agree at a reasonable price and terms.
  12. Not making the contract work and get to closing.  Often times both buyers and sellers will need to negotiate all the way to the closing – home inspection items, HOA violations, appraisal issues, title issues, and so many other things can become stumbling blocks.  Remember to keep your eye on the end goal of selling the house.

By avoiding these costly mistakes, you can get your house sold in virtually any market in a reasonable time.