Monthly Archives: January 2017

The Reasons Responsible Real Estate

Whether one is considering selling his home, or purchasing a house of his own, it is important to be careful, to avoid, merely seeking someone who automatically, consistently, and always agrees with you, even if doing so, might temporarily soothe your ego, make you comfortable, or happy! Seek a real estate professional, who will abide by the basics of my trademarked slogan, I will always tell you what you need to know, NOT just what you want to hear (TM). Perhaps the most important reason to hire a real estate agent, is to get the advice, counsel, expertise, wisdom, and professional judgment, which only comes as a result of extensive training, etc! Let’s review 6 key reasons, you need someone who will NOT always agree!

1. What you need to know, not just want to hear!: Many homeowners are attracted to an agent, who feeds their ego, by agreeing with an unrealistically high listing price! It is important to realize, the only price which matters, is what it sells for, not what you ask! In addition, since most houses, fetch the best price in the first few weeks it is on the market, an unrealistically high listing price, might deter, some qualified, motivated buyers, from even taking a look. Rather, seek an agent who explains the pricing model fully, and carefully, explains the competition, and provides a logical, pricing range!

2. Who’s the professional/ expert? If every buyer or seller, was an expert, why would he need an agent! Therefore, a quality agent must act the part of the professional, and provide expert advice, in many relevant areas, such as pricing, competition, marketing, negotiations, etc.

3. Prioritize expertise and service, NOT just being your friend: It might make you happy to rely on a friend, but only do so, if that friend is a true one, and is candid with you! Seek someone who provides the service, expertise, and know – how, which makes your experience, the best possible one!

4. Pricing strategy: How will you determine the asking price, for your home? Will you be led by your emotions, or focus on market conditions, competition, and what comparable properties, have recently sold for? Discuss thoroughly your pricing strategy, including the need for any future adjustments, etc. Be on the same page as the agent you hire!

5. Marketing plan: Have a complete discussion, about how your house will be marketed, and why! What combination of advertising, promotions, media, showings, Open Houses, etc, will make sense? Follow the agreed upon, marketing plan, and patiently pursue the appropriate path!

6. Client/ Agent Partnership: From the onset, an agent and his client, must both agree to work together, towards the best, common goals! If you wish to sell your home, ask your agent, what you should, and should not do!

You might enjoy it when others tell you what you want to hear, but it’s far more useful, when they tell you what you need to know! Proceed in a smart way!

Information Better Real Estate Practices

Real estate professionals face many challenges, and adventures, some positive, and others, less satisfying and/ or productive. Even the best agents have both good and not – so – great days, so this article will review, using the mnemonic approach, some of the best PRACTICES to utilize, to assure your best performance and results, and maintaining satisfied customers and clients. Understand, there is no such thing as a one – size – fits – all approach, but rather every agent must discover his personal strengths and weaknesses, and learn to best use his strengths, while effectively addressing areas of weakness. The objective of this discussion is creating a happier real estate agent, because when the stress is reduced, one invariably performs better, which means best serving your client’s needs, and priorities.

1. Priorities; planning: Smart agents begin by examining, discussing and understanding both his personal, as well as his client’s needs, concerns and priorities. How can you best address and serve a client, without this understanding? Use this fact – finding mission, to create more effective planning, and be ready, able and willing to respond in the best, most – professional manner!

2. Right: A religious individual might say, to follow the Golden Rule, but, think of this, as focusing on consistently doing what’s right, and serving the best interest, of those you represent. You owe your client your allegiance, as well as having a fiduciary and confidentiality responsibility!

3. Attention: Focus on what’s happening, so you might best serve the needs, etc, of your clients. Pay attention to the market (both nationally, but especially, on a local level), know the competition, be realistic, creative and work hard! The details matter, and you owe it to your client, to fully be prepared and ready!

4. Characteristics: What are your best personal qualities, and how might you best use them, in the best interests of your clients? What characteristics of the subject house, are outstanding, or, on the other hand, sub – par? The better prepared, professional, unemotional, rational, and creative, the better you will serve your client!

5. Trends; techniques: What are the relevant trends, in terms of marketing, advertising, promotion and representation, for your client? Keep a keen – eye on the mortgage rates, and understand its potential impacts, etc. Which techniques have you mastered, including negotiations, sales, marketing, interpersonal relations, etc?

6. Integrity; ideas; ideology: Never deviate from ethical behavior, and maintain absolute integrity! How will your ideas help? Are you and your client, on the same page, in terms of ideology, approaches, etc?

7. Clarity: Never assume, because you understand something, others will, automatically, as well! Articulate clearly and fully, and bring the highest degree of clarity, to your discussions!

8. Empathetic: Never forget, the period of selling one’s home, is often a scary, emotional one! Know your clients, listen effectively, and strive to be a truly, empathetic agent!

9. Strengthening: What have you done, or are willing to do, to strengthen your client’s position, and comfort level? Strengthening and easing the process, is a key asset to possess!

Real Estate Agents Address Concerns In 5 Steps

Real estate professionals, soon come to realize, their profession is an interactive and proactive one, where they are more than mere traffic guards or tour guides, but rather, must help others, make what is often, the most significant financial decision, of their lives. There must be a balance between give – and – take, where the agent neither speaks too often, nor too little. He must be able to comfort, inform, and provide professional expertise, to his customers and clients. It is necessary to adopt the attitude that getting questions/ concerns is a good – thing, and approach it, as such, rather than in a defensive or adversarial manner! This requires extensive training and repetition, as well as having superior knowledge and understanding, in order to be able to respond appropriately, and completely answer questions, and address concerns. This is where using these 5 steps, makes doing so, more comforting and consistent!

1. Step One: Re- state: Never pre – judge what someone may be asking you. Make certain you fully understand, first, before responding. Otherwise, you risk opening up a Pandora’s Box, by bringing up other concerns, which someone may not have. One of the easiest ways to do this is simply saying something like, In other words, you’re concerned about (whatever you believe they have expressed). Never continue until you receive some acknowledgment. This concern may range from pricing, commission rate, market conditions, etc.

2. Step Two: Empathize: People want you to care, but don’t want your sympathy! Effectively listen, and learn the needs, priorities, goals, and concerns of the other person. Then, indicate how you understand, because you’ve been in a similar situation, yourself. It might help to say, I can perfectly understand how you feel. In fact, I felt the same way, and so did almost everyone I’ve ever done business with, until they realized a few things.

3. Step Three: Answer: Clearly, slowly and thoroughly, answer the question or concern. For example, if the concern is about commission, you might say, Commissions vary, but what you probably should care more about, is what you will net, out of the process. Many studies show homeowners get a significantly higher price, when using a Realtor, and what commission someone earns, must relate to the level of service, etc, you receive. And I provide the absolute highest level of service.

4. Step Four: Recreate need: Let’s assume you’ve performed these first three steps, professionally and thoroughly. It’s now time to recreate the need, and re – gain control of the discussion. Many times, you might wish to say, In light of everything we’ve discussed, and the information we’ve shared, let’s get started on achieving your objectives.

5. Step Five: Close: Real estate agents don’t get paid their commissions unless/ until they close a deal! The first step along the way, is to get the listing. Therefore, try closing, by saying, Doesn’t it make sense to get started now, and get you the best possible terms? Doesn’t it?

It is essential to never rush from step – to – step, but rather, you must be patient, and wait for your potential client, to speak, answer, and acknowledge positively. Answering professionally, closing the deal, and believing you can, will get you the best results!

This Important Componets Of A Real Estate Listing Presentation

Have you ever considered, why certain agents seem to get so many real estate listings? While sometimes, this may be, because of skills, reputation, effectiveness, personality, commitment, results, referrals, etc, haven’t there been certain times, you’ve wondered, why you didn’t get a particular listing, and someone else did? While it serves no purpose to look at this, from a negative perspective, the purpose of this article is not to become more adversarial, etc, but to assure, you provide homeowners (potential clients), with the information, they should receive, to make the best possible, informed decision. With that in mind, we will briefly discuss 6 important components, you should always include, in a listing presentation.

1. Competitive Market Analysis (CMA): What is a Competitive Market Analysis, often referred to, as a CMA? A professionally prepared one, should not merely be a listing of things which have sold, but rather, use comparable properties, to best pinpoint a suggested price range. In order to do so, one should follow a procedure somewhat similar, but in less detail, to that used by bank appraisers. What features does this house (known as Subject property) have, which the ones you compare it to (known as Comparable 1, 2, 3, etc)? What do the others possess, the subject property does not? Compare lot size and type, location, features, rooms, size, style, condition, etc.

2. Suggested Listing Price: While a homeowner must set the price he wishes his house to be listed at, it is incumbent upon a real estate professional, to clearly present information, which helps him make, the wisest decision. Remember, listing and selling prices are different, but often, the listing price, impacts how many potential buyers view the home, and how competitive, you may be. It might be helpful if the agent, therefore provided some sort of suggested pricing range, and reviewed the positives and negatives, especially concerning marketing and showings, each price, might affect.

3. Why you? Why should someone choose you to represent their best interests, in this transaction, which, for many is their single largest financial asset? Be careful to explain, in positive terms, what you offer, and avoid accusations, blaming others, or negatives! Review your approach, and why it matters!

4. Marketing plan: What will be your Marketing Plan, and why? Why do you believe this approach, makes sense for this particular property? Review both the homeowner’s, as well as the agents, responsibilities!

5. Strategies: Is there a niche market, you believe might be most attracted to the house, and why? How will you go after that segment of the market, while still pursuing the broader market? How will you assure, the client and agent, remain on the same page?

6. Meeting of the minds (agent/ homeowner): This procedure should be informative, both on a technical level, as well as a strategic, and getting to know you one! Don’t rush over, any aspect, explain fully and carefully, and have a frank discussion on what some fear most, the dreaded, Commission discussion!

A Listing Presentation must not merely be a selling experience, but also an opportunity, for a homeowner, to learn, which agent is best for him, and why! The client deserves, at the very least, a thorough review, of these 6 components.