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real estate information: The Benefits of Investing in a Down Real Estate Market - 02/02/09 02:17 PM
Here are some of the benefitsof investing in a down real estate market from an addition to the wiki by Peter Vekselman - he has an interesting take on the market.
The real estate market being down is not necessarily a bad thing. Sure the credit worthiness of investment banks and even the general public is being questioned, but all is not lost.
In fact, the silver lining is, oddly enough, real estate itself. Real estate is still worth something, though not at the hyper inflated values you may have been seeing a year (or even half a year) ago.
… (3 comments)
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real estate information: How Important Are Referrals for New Real Estate Agents? - 01/19/09 10:24 AM
Referrals are one of the best ways to develop new business. A new agent can invite referrals by contacting his or her “sphere of influence” (people you are intimately familiar with, such as friends and relatives) and asking, “do you know anyone in your subdivision, gym, at work, interested in buying or selling a home?”
This question will prompt the memory of a specific individual and a reply providing the name and contact information of a prospect.
Open-ended questions, such as “do you happen to know of anyone,” will lead to open ended answers, such as “not off the top of … (6 comments)
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real estate information: The Top Ten Real Estate Movies of All Time and What We Can Learn From Them - 12/30/08 11:03 AM
Here's a fun look at some of the top ten real estate movies of all time following in the vein of my top ten countdown til 2009. Now, any lists are always subjective, these are just a few of the more amusing ones from Amy Hahn.
Which would you add to or take off the list?
10. Neighbors starring John Belushi and Dan Akroyd
Hehe always make sure you meet your neighbors and get a good feel for the neighborhood.
9. The Amityville Horror starring Josh Brolin
Follow your instincts. If you feel weird about a house, maybe there's a good … (64 comments)
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real estate information: The Top 10 Titans of the Real Estate Industry in 2008 - 12/29/08 11:17 AM
Hello everyone! I hope you all had a great Christmas and have an excellent New Years. Before the New Year, I thought it would be appropriate to touch on some top 10 lists for 2008. The first of these is The Top 10 Titans of the Real Estate Industry in 2008.
Independent Brokerage Companies, Franchise Groups and Real Estate Networks are always ranked on separate lists as it is impossible to really, effectively compare these different kinds of organizations.
The following group of the “biggest of the biggest” (in alphabetical order) combines all residential real estate brokerage types into one list. … (4 comments)
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real estate information: How Does An Eviction Proceeding Work? - 11/08/08 08:01 AM
Eviction procedures will vary by state, but the proper procedure must be followed by the property manager or owner.
A tenant is usually evicted or ejected because of nonpayment of rent, unlawful use of the premises or noncompliance with health and safety codes.
Actual eviction is when the landlord files a suit for possession because the tenant has breached the lease.
Constructive eviction is when the landlord breaches the lease and the tenant must leave the premises because they have become uninhabitable.
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real estate information: Is it Always Good to Pursue a Sale? - 10/29/08 11:59 PM
Excellent sales agents learn to tell when it is ok to pursue a sale and when they should wait.
There will be times when you come across an opportunity to enter into someone else’s life due to special circumstances and form a relationship with that particular individual, who, at some point may become an excellent prospect.
By taking a personal interest in someone elses’ life, say an elderly neighbor, you could not only develop a beautiful personal friendship but also be “prospecting” long term.
Your personal value must always remain pure and your actions true.
What do you think?
… (6 comments)
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real estate information: What Are the Benefits of An S Corporation? - 10/27/08 11:56 PM
S Corporations are often more attractive to small business owners than the corporation is. The S Corporation has some appealing tax benefits and still provides business owners with the liability protection of a corporation.
With an S Corporation, income and losses are passed to shareholders and included on their individual tax returns.
As a result, there is just one level of federal tax to pay. S Corporations can have up to 75 shareholders, which makes it possible to have more investors and thus attract more capital.
S Corporations are subject to the same requirements as corporations, which means higher legal and … (9 comments)
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real estate information: Does it Make Sense to Join a Team Within my Brokerage Firm? - 10/22/08 11:49 PM
Although you may have decided to be your own agent when you became a Realtor®, joining an existing team within your brokerage may make sense, especially for new agents.
Be sure to research and understand the way the team is set up and what the commission share will be, before you sign up.
Even inside the same brokerage, teams may have different cultures and financial structures, which may or may not support your individual requirements.
A new agent can learn a lot from a team and a good team will provide leads to new agents, which they might not come by … (10 comments)
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real estate information: What Types of People Succeed in Real Estate? - 10/21/08 11:59 PM
Any and all types of people can succeed in a real estate career and many originate from fields such as retailing, teaching, communications, government, and the armed forces.
According to a National Association of Realtors (NAR) Members Profile, nearly 70% of sales agents came to real estate from a non-related field and only one in four agents had previously worked in a management or sales position.
Education is very important to the success of an agent. Most states require a high school diploma or equivalency certificate, but a college degree is not critical.
In fact, just three of every ten … (7 comments)
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real estate information: Yay, I'm Done With the Real Estate Exam...Wait, What Happens Now? - 10/20/08 09:03 PM
That's a question many newly minted Realtors ask after they've taken the real estate exam. To begin with, if you have selected a real estate broker and the broker has signed your state exam application, you will be issued an active license at the exam center.
If you have not affiliated with a broker, your license will be "stored" with the Real Estate Commission until you activate it with a broker.
Sales agents must be affiliated with a local broker to obtain an active license.
Once you have your active real estate license, most states require a certain number of post-license … (4 comments)
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real estate information: Do I Have to Provide Real Estate Services Free of Charge? - 10/13/08 11:46 PM
My answer to that question is yes, most definitely. You have to be prepared to do lots of work you might not get paid for. Realtor®’s services are provided free of charge until the time of closing. What's your opinimon and how do you deal with this aspect of real estate?
Although you should always strive to have your prospect sign a buyer brokerage or listing agreement, there is no reason why you should not go the extra mile and provide information and assistance free of charge.
In time, you will learn how far you can go without hurting yourself (yes, … (5 comments)
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real estate information: Yes, You Can Offer Coupons in Real Estate - 10/08/08 11:53 PM
This does sound a little odd, as I'm not sure coupons are necessarily something most Realtors think about when they're brainstorming incentives to pull in potential clients.
However, coupons could come in very handy in the real estate sales business. For example, you might include a coupon for a free Comparable Market Analysis (CMA) with your brochures, sales or newsletter.
This is a great way to develop a personal relationship and facilitate a face-to-face with your prospect.
You can also offer rebate coupons for a specific dollar amount to Buyers and/or Sellers. However, the benefit must be to the client and … (34 comments)
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real estate information: Quick Tips for Preparing for Your Real Estate Exam - 10/07/08 11:49 PM
Your pre-license course will include numerous practice tests to prepare you for the state exam. It will help you understand the test format, identify pitfalls and coach you in all areas covered by the exam.
In addition, entities such as Applied Measurement Professionals, Inc. (AMP) develop study guides and handbooks, assisting future real estate agents to prepare for the test.
They are available through a real estate school or your state real estate commission and provide you with specific information regarding your own state exam.
There are also numerous online resources for studying for the real estate licensing exam, including:
Ehow … (4 comments)
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real estate information: Focus on Providing a Solution for your Client, Not Just Selling at Them - 10/06/08 11:43 PM
Focus on helping your client (s) make that decision by listening, analyzing and really paying attention to what they want.
If you can give them what they want, it will often make the sale.
Granted you have those who will walk regardless, but more often than not, excellent customer service pays off in big ways.
The best approach to excellent customer service is to keep in mind that your customer must feel he or she is getting more than what they are paying for.
Think about selling as providing a solution to a problem a potential buyer has: which house … (3 comments)
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real estate information: What Is Involved In Real Estate Appraising? - 10/03/08 08:27 PM
The field of real estate appraising requires advanced credential designation and, in most states, appraisers must be licensed.
Most real estate appraisers offer their services to lenders and taxing authorities.
The job of the real estate appraiser is to gather and evaluate all available facts affecting a property’s value and render and “opinion of value.”
Appraisal is a real estate career opportunity that does not require property selling, while demanding a special set of skills of its own.
Many agents obtain their real estate appraiser certification to supplement their real estate sales agent license.
The job incorporates office and fieldwork and … (0 comments)
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real estate information: How Much Should I Promise My Client? - 10/02/08 11:48 PM
Promises to your client should be realistic and achievable. It is better to under-promise than over-promise to manage expectations.
It is better to provide a positive surprise than to under-deliver on a promise. Be sure to live up to your promises.
If you promise to get something completed by a certain date, make sure you do or keep your client appraised on any unexpected delays.
In real estate, it can be difficult to project how and when a property will sell.
The best you can do is to put every effort into delivering an outstanding service and live up to advertising … (4 comments)
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real estate information: How Do I Follow Up on Cold Calls? - 10/02/08 11:45 PM
Your first cold call will typically not result in a business relationship. Consider it a way to introduce your business. A good rule of thumb is to consider ten contacts to develop one lead.
Your goal shoud be to sign a written contract, whether a listing or buyer brokerage agreement, although you may need to invest some time upfront to earn your customers' trust before asking them to sign a lenghty buyer-brokerage agreement.
In real estate, cold calls and prospect contacts may even just result in an expansion of your database.
Useful “lead-in” lines for follow up include: “I just found … (3 comments)
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real estate information: How Do I Get Past the I am Just Looking Stage? - 10/02/08 10:59 PM
The words “I’m Just Looking” are intimidating to any sales person but especially to the real estate agent. The “I’m just looking” stage of a client can cost the agent a lot of money in gas, time and general related expenses.
In today’s market and considering today’s cost of gas, you need to proceed with caution, if a prospect is at that stage.
It does not mean you should not work with the client or pass up the opportunity. You must learn to distinguish and manage those clients who might be real prospects or those who might ultimately just waste your … (36 comments)
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real estate information: How do I Prepare a Listing Presentation? - 10/01/08 11:38 PM
Listing presentations are an important form of advertising for real estate professionals. When you give a listing presentation, you have done your legwork and achieved an interview with the prospective seller.
This is huge!
Your listing presentation needs to be attractive, creative and offer plenty of usable information. It should include extensive information and statistics about your agency. This is especially important for a beginning agent, since you will not have much personal experience in the real estate area to offer.
However, you may talk about any related business experience you accumulated throughout your career and continue to describe how the … (9 comments)
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real estate information: What Tools Make Your Job as a Realtor Easier? - 09/30/08 03:16 PM
This is an important question, and all professionals have their own tips, tools and tricks for makeing everything run smoothly; what are some tools you've used in the course of your career you couldn't do without?
Here's a list of some tools that might help agents of all stripes and colors, from the newbie to the top sellers (who have probably already used at least a few of them;p).
One of the best tools a Realtor® should invest in is a navigation system. These systems allow you to input the addresses of homes you want to visit and guide you from … (6 comments)
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