Selling Soulfully with Jennifer Allan

"I Have a Listing Appointment... sigh..."

Jennifer Allan, Author of Sell with Soul (Sell with Soul) — Sat, 21 Nov 2009 08:15:02 -0600

A SWS'er friend of mine who is fairly new in the business emailed me that she had a listing appointment. I wrote her back congratulating her with the comment "How exciting!" She replied with a virtual sigh and thanked me for my good wishes, but explained that it's going to be a tough one - the seller is elderly and won't be able to clean up the house, or vacate for showings. So, she's not as excited as she would like to be about this particular opportunity.

I hear ya, girlfriend.

Used to be that listing appointments were something to celebrate; now they almost feel like a burden. We used to be nervous that we WOULDN'T get the listing; today we're a little nervous that we WILL!

I was watching a re-run of Grey's Anatomy the other day where Derek "McDreamy" Shepherd was bemoaning the fact that most of his patients die. He was gloomily looking at two piles of files on his desk - one pile contained the files of patients who lived; the other of patients who died. Which pile do you think was higher? Yep, the "dead" file pile.

His girlfriend, Meredith Grey, pointed out that because McDreamy is a neurosurgeon, almost all of his patients are already terminal, so the fact that there ARE two file piles is a testament to his skill as a surgeon. McDreamy's not having it; at least not yet.

Fade out.

This scene reminded me of my friend's angst over her listing appointment. It IS frustrating to (try to) sell houses these days, knowing full well that your efforts might be for naught. Failing your seller isn't any fun, and it doesn't get easier, even if you get plenty of practice!

My advice to my friend and others feeling this way?

Do the best you can. I mean that literally. The BEST you can. Go all out for your sellers, even if you don't hold out much hope for a successful outcome. Don't give yourself permission to do a half-a$$ed job just because you're discouraged. Do the BEST you can so you won't be so wracked with guilt down the road if your efforts fail.

And you know what? When things improve (and they will), you'll be a fantastic listing agent who not only gets her listings sold, but also gets top dollar for them. And by doing the BEST you can for your sellers today, you might just see more of your listings selling than you expected.

One more thing - to the agents who have joined our ranks during these tough times - hang in there if you can. This business used to be a ton of fun and I believe it will be again. And when that happens, you'll be excited about listing appointments again!

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Greatness Doesn't Inspire Me Nearly as Much as Mediocrity Does

Jennifer Allan, Author of Sell with Soul (Sell with Soul) — Fri, 20 Nov 2009 07:54:20 -0600

We read about Great leaders who have overcome tremendous obstacles to achieve... well... Great things. We hear stories of tippy-top producers who found themselves at some point living in their cars... but today make gazillions of dollars. Closer to (my) home, there are stories like Jack Canfield's where he had to peddle his idea for the Chicken Soup for the Soul book to dozens of publishers before one bit... and it became one of the best-selling books of all time.

Stories like these are supposed to be inspiring. But can I be brutally honest for a moment? I find them more intimidating than inspiring. Call me humble (ha!), but I'm just not sure I have what it takes to reach such Greatness and prosperity. Besides that, I've never lived in my car, which seems to be a pre-requisite for Greatness, although I have run out of gas a few times. Does that count?

I find far more inspiration in mediocrity. When I need to rev myself up to work on a chapter in my next book or prepare for an upcoming speaking gig, I seem to magically stumble upon someone in my industry who does their craft poorly, or at least, without Greatness. Many of whom are quite successful, I might add! Just the other day I was reading a fairly popular book about entrepreneurship (which is the topic of my next book) and was stunned at how superficial and obvious, not to mention poorly edited the material was. I mean, DUH. This stuff comes straight from Old School Self-Promotion 101 -- and the book was touted as revolutionary!

Anyway, after reading about half the book, I couldn't wait to get back to working on mine which I'd backburnered earlier this year. Heck, if this guy's stuff can be considered "revolutionary," to what heights might MY stuff climb?!

This approach could easily apply in a real estate career. Sure, there are a handful of real estate practitioners who are Great but the vast majority is, by definition, average. Many, of course, are less-than-average, but darnit, if they don't do okay!? Frustrating, isn't it?

Well, take that frustration and be inspired by it. Visit open houses on Sundays and observe how poorly many agents handle them - their signage, their (lack of) knowledge of the home and neighborhood, and their often-uncomfortable rapport-building skills. Eavesdrop on the other agents in your office and hear how unprofessional some of them sound while talking to prospects and clients. Preview listings in your area and notice how poorly they are priced and marketed. Read through several MLS listings and see how many fields are incomplete and the descriptions dull. As you work your own deals, note how long it takes for other agents to return your calls, and how unfriendly or unprofessional their outgoing voicemail messages are.

I could go on and on, but I think you get the point.

If you, like me, are intimidated by the Great, look to the mediocre for inspiration. You can do better, significantly so, and in today's world of increasing mediocrity, you might find yourself among the Great!

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A Real Estate Career is NOT for the Liability-Phobic**

Jennifer Allan, Author of Sell with Soul (Sell with Soul) — Wed, 11 Nov 2009 06:04:26 -0600

Been watching a conversation elsewhere on the web about whether or not to put buyers in your car... as opposed to driving separately. While some of the comments are ridiculously snotty ("They can drive themselves!" or "Let THEM use their own gas!"), the most sincere objection seems to be that putting another warm body in your car creates liability for you.

We hear similar objections all the time to doing things that serve our clients. DON'T attend inspections! DON'T recommend mortgage brokers! Don't give any advice that might be construed as legal! Don't put buyers in your car! Blah blah blah.

Basically, in order to CYA to the best of your ability, you should, as one instructor put it - "stand outside and smoke" during most phases of a real estate transaction. To avoid liability, y'know.

Well, shoot, I don't buy it. My buyers and sellers pay me darn good money to be intimately involved with every facet of their real estate transaction. And I show up. Yes, to inspections. I get on the roof and join the party in the crawlspace. If I don't know three good inspectors, I recommend only the one or two I like. I write my own addendums that probably border on practicing law. And yes, I put buyers in my car.*

It's my job. And in my 13 years of doing my job, I can honestly say I've been richly rewarded for doing my job and only threatened legally once. By doing my job, I serve my clients, which not only leads to happy clients, but more paychecks for ME ‘cause my deals close!

I know what I'm doing. And I shall do it. Even if I risk being sued. This is a liability-ridden business. If you cain't take that heat... go find another kitchen to play in.

*Here's my opinion on putting buyers in my car:
In 13 years, I can count on one hand (okay, maybe two) the number of times I've ridden separately from my buyers. I usually drive, but if my buyer has a car-seat issue, I'll ride with them. The only times I've had a buyer follow me is if we're meeting at the house and only looking at a few others - then it just seems to make sense.

The time spent driving between houses is great bonding, rapport-building and information-gathering time. I can't imagine not having that time with my buyers as we're getting to know each other and figuring out what they want in a house. It also gives me the opportunity to demonstrate my expertise in the area and for them to ask questions which, assuming I can answer (!), builds my credibility.

I've shopped for houses in other markets and the agents always drove. I'm trying to imagine them leaving me in my rental car to follow them in an unfamiliar town... and I'm pretty sure I would think they were rude, antisocial, lazy or ashamed of their car. I certainly wouldn't think MORE of them if they made me drive myself.

That said, if I didn't feel safe with someone, I probably wouldn't want them in my car, but neither would I be working with them.

** Nothing written here should be construed as legal advice <grin>

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Pricing Historic Homes in Urban Neighborhoods, Step Four - Analyzing the SOLDs - Dealing with the Outliers

Jennifer Allan, Author of Sell with Soul (Sell with Soul) — Tue, 10 Nov 2009 08:06:00 -0600

Thanks to those who are sticking thru this series with me! While I think that the process of properly pricing homes is fascinating stuff, I know it's not nearly as sexy as other topics! (Although SELLING your properly priced listing is very sexy, indeed.)

In the previous installments...

Introduction
Step One - Before you price, prepare!
Step Two - Preview, preview, preview
Step Three - Play detective

...we talked about how to effectively preview the competition to figure out where your potential listing falls into the scheme of things. So, what about the SOLDs?

The problem with using SOLDs in your market analysis is, unless you've been a previewing mad(wo)man over the last eight months, you probably haven't seen the inside of the properties, and now it's too late. So you have to go off the MLS description - a very risky proposition!

But we'll do our best.

Print off all the SOLDs that seem to be comparable, even if they're much higher or lower than your assumption of the market value of "your" listing. Drive by all of them! Pay special attention to the outliers - the ones that seem to have sold way out of whack to the rest of the market, or whose Days on Market statistic is unusually low or high.

There's a good chance your drive-by will reveal the reason for the out-of-line price or DOM. Perhaps there's a commercial building next door, behind or across the street. Or, common in Denver, a corner lot that doesn't have a private back yard, or any back yard at all. Maybe it's a pop-top done wrong and doesn't fit in with the neighborhood. Busy street with a bus stop in the front yard?

Or conversely, you might see that it has a stellar location with an extra-large lot, a mountain view, or around the corner (at a suitable distance) from a popular coffee shop.

If the reason for the outlying price and/or DOM isn't obvious from your drive-by, go line-by line through the MLS listing. Is it missing a garage in a market that expects garages? No basement? One bathroom? Obviously, if the interior photos show that it needs work, that's relevant. Check the showing instructions to see if there are any obvious limitations on access.

If all else fails, and you really feel a particular house is a good comparable, call the listing agent. Hopefully they'll be helpful in helping you understand why the house sold at the price it did. Or, maybe not. But give it a try.

It really is the outliers that give you the most grief when looking at the SOLDs. There probably are some sold listings that fall right in line with what you're thinking the price of your listing ought to be, but the ones that don't give you fits. The more research you do on these outliers will not only make your CMA stronger, but will give you an air of confidence when going through your CMA with a seller.

Next Time - Putting it All Together

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Broadband Cards, Bandwidth Limitations, Back-Up Programs... and Video Blogging

Jennifer Allan, Author of Sell with Soul (Sell with Soul) — Sun, 08 Nov 2009 06:52:24 -0600

Yeah, I know. Scintillating stuff!

But I'm wondering...

I live out in the country and the only high speed internet I can get is through a broadband card (well, I could have satellite, but satellite sucks). For $60/month, Verizon gives me 5GB of bandwidth to use to my heart's content. They SWEAR that's more than a normal human being could ever possibly use.

Uh, not quite. My first month I blew through 24GB of bandwidth, which I later discovered was due to my Carbonite back-ups always running. Y'know how much going almost 20k over your bandwidth allowance will cost you? $900. But since I'm such a good customer, Verizon graciously reduced that to $190. Still... ouch.

So, now, I'm, shall we say, a little more cautious with my precious bandwidth. Not only do I disable my Carbonite until I'm somewhere I can connect wirelessly, but I never, ever, ever play videos. Truth be told, I wasn't a big fan of videos before, but now that I might be financially punished for watching them, I don't even consider it. If a video comes in an email... I delete it. In a blog? NEXT.

Am I the only person on the planet who depends on a broadband card for internet service? Or, as more and more computers come with broadband cards installed, will this be more of an issue for video-blogging which has been touted as the next great thing?

Just a Sunday morning ramble...

Just Released!
The SWS Mega-Toolkit for Real Estate Agents

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Playing Detective... Pricing Historic Homes in Urban Neighborhoods - Step 3

Jennifer Allan, Author of Sell with Soul (Sell with Soul) — Sat, 07 Nov 2009 06:04:19 -0600

Here's the third, well, kinda the fourth (if you count the introductory teaser) installment in my series "Pricing Historic Homes in Urban Neighborhoods." You can read the rest of the series here:

Introduction
Step One - Before you price, prepare!
Step Two - Preview, preview, preview

I've had a few comments come in to the tune of "Wow - that's a lot of work - is it really necessary to spend so much time pricing a home?" Well, I say - YES! It is necessary! After all, our product is property, and our sellers pay us darn good money to know our product and move THEIR product off the shelf... so I believe with all my heart that we owe it to our future adoring fans to do our homework and make the most knowledgeable recommendations we're capable of.

Although... we'll never be perfect. Sigh.

Back to Pricing.

In the last installment, I talked about how important it is to preview preview preview. The more competing listings you preview, the better sense you'll have of where your listing falls into the mix.

Remember, the houses you're previewing are 1) the competition for your listing and 2) houses that haven't sold.

Why is it important to check out the active listings? Some agents don't preview because they don't think the active listings are relevant. "All that matters is SOLD." Eh, I disagree. First, what's SOLD is not competing with your upcoming listing, and when you're dealing with older homes, buyers don't always have a lot of options that meet their criteria. In many cases, the buyer will only find one or two homes that even come close, so knowing what they're comparing your listing to is critical.

Second, it's important to know WHY that active competition hasn't sold. Especially if it appears to be "priced well." You'll never know for sure why a house hasn't sold by looking at the MLS, although you may have your suspicions. It's not as if the listing agent is going to tell you that the house reeks of cat urine or point out that there's no bathroom on the main floor.

So, when you're previewing, ask yourself...

WHY hasn't this house sold?
WHAT makes it superior (or inferior) to "my" listing?
HOW could the listing agent do a better job marketing this home?
WHO is the ideal buyer for this property and is it the same ideal buyer as "mine" will attract?
(I can't think of a "when" or a "where," so I'll move on).

Training yourself to ask these questions at every house you preview makes you a better previewer, and therefore, a better pricer. It also helps you to remember each house so you can speak intelligently about the competition with your seller when discussing pricing, as well as down the road when that homes' status changes (sells, withdraws or reduces the price), you'll be able to nod and say to yourself, "Hmmmm, I thought so!"

Speaking of down the road... this is another important reason to preview. When or if the competition sells, you'll be familiar with it in case appraisal problems come up on YOUR property and the appraiser wants to use comparables that aren't appropriate. If you've been IN all the comparables, it's much easier to make a compelling case!

Okay, ‘nuff about previewing. Next time, we'll talk about how to evaluate the SOLDs in your CMA to help you price your historic home in your urban neighborhood!

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The Facebook Fan Page - Do You Join Because There's Value There... or Just To Be Polite?

Jennifer Allan, Author of Sell with Soul (Sell with Soul) — Thu, 05 Nov 2009 17:00:30 -0600

In my continuing effort to better understand the professional value of a presence on Facebook, I am now going to ask for help on the concept of the Facebook Fan Page.

Let me disclose upfront that I have Fan Page and I am grateful for every one of the 305 310 313 fans who have, well, become fans. I even post there most days, and get a huge kick when someone comments on my postings.

But I must admit, I really don't see the point. As far as I can tell, conversations generated on Fan Pages tend to die out pretty quickly since the conversationalists aren't notified that someone has replied to a comment. Outta sight, outta mind.

And, well, this next bit is a little touchy.

I get invited to become a fan to at least a dozen fan pages a day. Mostly from real estate agents who are Facebook Friends on my personal page. That's totally cool.

But again, what's the point of becoming a fan of a real estate agent in another market except just to be polite? I can't say I'm much interested in the comings and goings of their local market, or of their listings or open houses. No offense, but well, I'm just not. Now, if the point of becoming a fan IS to do so out of politeness, that's fine, I'll do it. I want to have good manners, to be sure. If I never visit the Fan Page, I guess no one will know, so what harm does it do?

Am I missing something? Is there something really cool about these Facebook Fan Pages that has escaped my notice (MINE INCLUDED)? I'm serious - it may very well be the case because I'm still utterly perplexed by why anyone would want to Twitter. Although, I do have a Twitter account, too...

So... if YOU have joined a Fan Page (mine or anyone else's), why did you do it? Because you care about what that person or company is up to? Or just to be polite?

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Pricing Historic Homes in Urban Market - Step Two - Preview, Preview, Preview!

Jennifer Allan, Author of Sell with Soul (Sell with Soul) — Wed, 04 Nov 2009 07:43:11 -0600

Just another installment in the series: Pricing Historic Homes in Urban Markets...

Introduction
Step One

In the last installment, I recommended that you always, always, always drive by your subject property before doing anything else. If you can get inside, so much the better...

So after you have a good visual of your subject property, it's time to go check out the competition - otherwise known as "previewing." (If your market frowns on previewing, and many do, please share with the audience how on earth you properly price homes!).

When I interview to list a property, I often find myself bonding with the home, to the point where it's almost as hard for me to be objective about it as it is for the sellers. I really have to fight the temptation to be overly critical of "my" listing's competition, while excusing "my" listing's challenges and flaws. Sometimes I'll take another agent with me on my previewing tour to help keep me objective.

SELECTING THE HOMES TO PREVIEW
Which homes should you preview? In a word (okay, a phrase) - as many as you can. Even if they aren't exactly comparable. With every house you tour, you gain a little better grasp on the up-to-the-minute marketplace, which makes it much easier to pinpoint the proper price range to recommend. It just happens naturally. As you look at the competition, you'll start to get a feeling for where your listing falls in the scheme of things, and the more you look at, the more confident you'll be in that feeling.

I try to preview at least 10 houses when I'm pricing a home. Sometimes I'll get lazy and only hit five - and I always regret it. It seems that it's right around the sixth or seventh house that I start to trust my gut about pricing. And that gut feeling is further confirmed on the eighth, ninth and tenth.

Depending on my price range, I'll preview all comparable houses within $50,000 (on each side) of where I think my listing will fall. By "comparable," I mean homes that offer similar square footage for the money. I probably won't preview a 1,000 sqft Bungalow if I'm listing a 2,000 sqft Victorian; they just won't attract the same buyer, even though they may very well be priced similarly. I always preview any homes within one block of my seller's property, even if they aren't comparable at all. It's just good practice in case the seller asks you about it.

Always preview the low outliers. A "low outlier" is a house that looks good on paper, but seems to be a screaming deal. You need to know why it's priced so well... but hasn't sold. There probably is a good reason. If there isn't, then this is the listing to beat. But we'll talk about that later.

How about the high outliers? The houses that are priced way above the rest, which are probably getting your seller all excited? Look at those, too. Chances are that they're just grossly overpriced (and the more houses you look at, the more sure you'll be of this). If they aren't overpriced, there's something really fabulous about them, and you need to know what it is.

As you're setting your previews, note if any homes are difficult to show. That will definitely affect market value. And frankly, if they are, I'll skip them. Lazy? Maybe, but on the other hand, a difficult-to-show home is not going to be comparable to MY listing because I don't take difficult-to-show listings!

Effective previewing in an urban market entails a lot more than just looking at a bunch of homes. Sure, that's what you're going to do (look at a bunch of homes), but in order to really evaluate the information you're gathering, you need to go in with the heart & mind of a detective.

We'll talk about that next time.

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It's That Time of Year Again... Doo-Dad Time!

Jennifer Allan, Author of Sell with Soul (Sell with Soul) — Tue, 03 Nov 2009 06:09:28 -0600

Ahhhhhhh... flickering jack-o-lanterns... the changing o'the leaves... the first snowfall... chestnuts roasting on an open fire... and time to order your end-of-year Doo-Dads!

Every year 'round this time, real estate agents open their checkbooks (or, better said, key in their credit card numbers) and spend millions of dollars on calendars and other Doo-Dads designed to be distributed to anyone and everyone who crosses their paths. The goal? Why, to ensure that every human being on the planet knows who they are, what they do and how to reach them, of course!

A worthy goal, indeed.

Even I, staunch opponent of the typical Doo-Dad, am sorely tempted this time of year to spend my few remaining marketing dollars on something of value to throw at my sphere of influence in hopes of drumming up some last minute fourth-quarter business or filling up my pipeline for the spring season.

But sheesh, most Doo-Dads are really silly. C'mon - personalized fly-swatters? Ice-scrapers? Lip balm? Oh, I'm not sayin' that I won't use a free fly-swatter, ice-scraper or lip balm, but I can pretty much promise you that such Doo-Dads are NOT going to make me feel obligated to use the person or company whose name graces said Doo-Dad!

That said... I like magnets. Always have. Not just any old magnet, mind you; it has to be cool if it's gonna go on my fridge. Even more important, it has to be cool if it's gonna get sent out to my precious sphere of influence.

What do I mean by "cool?" Glad you asked.

A "cool" magnet is one that is 1) extremely clever or attractive, and/or 2) contains truly useful information that the recipient will appreciate and 3) reflects my personality or interests.

What are some examples of UNcool magnets? Oh, how about a plain-jane, vanilla business card magnet? Or a list of kitchen measurements? Or, from someone like me, the sports schedule of the local hockey team? (But if you LOOOOOOOVE hockey, this would be totally cool for you).

If you're going to spend your hard-earned dollars on Doo-Dads, put your money where your heart is. If something seems a bit silly to you, it probably is. As with every other prospecting method you evaluate, be willing to listen to what your gut has to say on the matter. If your gut seems to be saying "Eh... we can do better," trust me, you can.

Here's a link to what I consider to be the ULTIMATE in Doo-Dad-Coolness. Yeah, I had a hand in creating it, so of course I think it's cool, but I'd love your thoughts as well. And please share your own experiences with Doo-Dads - d'good, d'bad and d'ugly!

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Thank You for Re-Blogging!

Jennifer Allan, Author of Sell with Soul (Sell with Soul) — Sat, 31 Oct 2009 07:06:44 -0500

I've been re-blogged a lot lately. Well, maybe not a LOT, but some. And in the past, it never occurred to me to check out the re-blogs - I just saw that little blue dot (or two) at the top of my post and smiled, knowing someone thought enough of my writing to include it in their own blog.

Then suddenly, one morning, duh, I realized that when others post my stuff, they attract their own audiences to the blog and start up whole new conversations about me behind my back in front of my face!

How cool is that?!

I visited all my re-blogs. Whoa - talk about fun! All these nice comments about me and my stuff that I didn't even know were out there! And more than a few people who had never heard of me (oh my!) who said they'd go check me out. Sweeeeeeet.

So, Lenn, Bob, Robin, Shirley, Donald, June, Gabe, Anthony, John and joe blow (yeah, seriously) ...... THANKS for the Re-blog! I shall endeavor to return the favor...

Happy Hallooooooweeeeeeen!

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Pricing Historic Homes in Urban Markets - Step One - Make Like a Boy Scout...

Jennifer Allan, Author of Sell with Soul (Sell with Soul) — Fri, 30 Oct 2009 06:22:17 -0500

Earlier this week (or maybe last week?) I promised to do a little series with tips on how to properly price historic homes in urban markets. Here's where I promised that - you might want to read it first.

Got distracted by conversations ‘bout Real Estate Reality Shows, but here I am again, back to the more mundane issues of our daily grind... pricing homes to sell. Yawn. (I say that a little sarcastically; I totally love this stuff).

Pricing historic homes in urban markets is a bit (a lot?) more time-consuming than pricing newer homes in planned developments. But, at least to my way of thinking, it's a whole lot more fun! Hope you think so, too...

Step One is to Drive by the Home. Never, ever, ever begin the pricing process until you've at least driven by the subject property. You need to have an accurate mental picture of the home and its general location on the planet in order to take the next step. When you drive by, be sure to look for any locational challenges such as nearby railroad tracks, overhead high-tension power lines, undesirable neighbors (either commercial or residential) or obvious parking issues. If the home has an alley, drive through it to see what the back of the house overlooks.

Very few older urban homes are in a perfect location; almost all have some locational "amenity" that buyers will object to. You need to be aware of any such objections upfront. On the other hand, if the subject property IS in a perfect location, that's something you need to know as well, because most of the comparables you'll be using won't be.

While we're on the topic, it's far better if you can get inside the house before you prepare your CMA. I usually handle this by doing a 2-step listing presentation - the first being an information-gathering/rapport-building meeting and the second focusing on the current market - i.e. pricing. (Actually, I do a three-step listing presentation, but I'll talk about that later).

That said, whether you do a one-step, two-step or even three-step listing presentation, never meet face2face with a seller without first, driving by the house, and second, perusing the relevant market data online. You need to be at least conversational about the local market, even if you haven't done your detailed research yet. Remember, the general public thinks all we do all day is drive around and look at houses, so if you stutter, stammer and hedge when the seller asks you about his neighborhood's market activity during your first meeting, he'll certainly doubt your professionalism and expertise. Being able to casually toss out a few neighborhood statistics or hyper-local market factoids will do wonders for your confidence and credibility.

If there are any homes for sale or any that have recently sold within one block of the seller's home, know the details of the listings or sales, even if they aren't comparable. Your seller knows all about them and he'll expect you to as well.

Homeowners in urban markets tend to be pretty enamored with their neighborhood and will expect their real estate agent to be, too. So, be as prepared as you can, as early as you can.

Next Time - Step Two - Gentlemen (and ladies), Start Your Research!

The 2009-2010 Winter of Soul Kicks off November 18th! Click here to read more

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"Real Estate is a Relationship Business" - Not exactly... (A Rant)

Jennifer Allan, Author of Sell with Soul (Sell with Soul) — Wed, 28 Oct 2009 07:06:14 -0500

We hear this all the time - heck, I say it all the time! "Real Estate is a Relationship Business" - meaning that the more people who know you and like you, the more real estate you'll sell. As opposed to the good old Numbers Game philosophy that the more people who throw away your monthly marketing postcards or ignore your newspaper advertising, the more real estate you will sell.

And of course, I believe that - at least the part about how the more people who know you and like you, the more real estate you'll sell.

But is real estate really a relationship business?

I say no.

This blog was partially inspired by an episode of Million Dollar Listing (don't get me started). Okay, too late.

The three twenty-something boys young men drama queens who are the stars of the real estate reality show seem to have an unending supply of "Dear Friends" with gazillions of dollars to spend on real estate (or gazillion-dollar homes to sell). Dear, dear friends. "After all," sez Chad, "Real estate is a relationship business."

Hmmmmm.

If you've ever watched the show with a critical/cynical eye, you might have noticed that these boys young men drama queens give abysmally bad counsel. Often laughably self-serving, almost always bordering on incompetent. They advise their Dear Friends to make full price offers in a declining market before the house even hits the market. They allow their sellers to dictate the price and terms of their listings, whining all the while that the seller is being unreasonable (but not knowing what else to do). They talk their buyers out of even asking for repairs at inspection because the seller has already come down on his price (again, in a recessionary market).

I don't know anything about agency law in California, but if it's anything like Colorado, these boys young men drama queens are failing in their agency obligations to their clients. Or, if not technically violating agency law, definitely doing nothing to earn their $100k+++ commissions.

Speaking of commissions, a recent episode showed Madison being dismayed when his seller client accepted a lowball offer on her $3.75M listing which resulted in - get this - a $42,000 decrease in commissions for him! Poor Madison.

So, what does this have to do with real estate and relationships?

Selling real estate is about knowing how to sell real estate. Let's say that differently. It's about knowing how to manage and facilitate the exchange of real property so that the buyer or seller who hired you is satisfied with the outcome.

Sure, building your real estate business may have everything to do with your relationships, but THAT'S NOT WHAT WE DO! Is tax preparation a relationship business? Is dentistry a relationship business? Is dog-training a relationship business?

No, we expect our tax preparers to know how to prepare taxes. We hope our dentists know how to fix cavities. We expect a dog-trainer to be a master in dog behavior. That's their business.

Our buyers and sellers have the right to expect that we know our business. Which is... how to manage and facilitate the exchange of real property. Not how to persuade our Dear Friends to provide us with easy paychecks.

Rant Over.

As promised, I'll return to my little series on pricing historic homes in urban neighborhoods... I just got distracted today.

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Dave Ramsey Podcast CDs up for Grabs...

Jennifer Allan, Author of Sell with Soul (Sell with Soul) — Mon, 26 Oct 2009 09:59:00 -0500

Hey Dave Ramsey Fans...

I have a big box of CDs I've burned of Dave Ramsey's podcasts from the TMMO website. I listen to 'em in the car and then toss them in a box in the back seat. There are dozens, maybe even hundreds of these CDs just sitting there, and I have no further use for them.

Anyone want 'em? They aren't fancy - just a whole bunch of unlabeled CDs with two commercial-free DR shows on each.

Let me know and I'll send them to you...

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Dave Ramsey Podcast CDs Up for Grabs!

Jennifer Allan, Author of Sell with Soul (Sell with Soul) — Mon, 26 Oct 2009 09:54:17 -0500

Hey Dave Ramsey Fans...

I have a big box of CDs I burned of Dave Ramsey's podcasts from the TMMO website. I listen to 'em and then toss them in a box in the back seat of my car. There are dozens, maybe even hundreds of these CDs just sitting there, and I have no further use for them.

Anyone want 'em? They aren't fancy - just a whole bunch of unlabeled CDs with two commercial-free DR shows on each.

Let me know and I'll send them to you...

Jennifer

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"Jennifer, What Do You Think of Client Appreciation Parties?"

Jennifer Allan, Author of Sell with Soul (Sell with Soul) — Sat, 24 Oct 2009 06:19:37 -0500

Earlier this week, I spoke on the subject of Selling to Your Sphere of Influence - No Sales Pitch Required! at the Colorado REALTOR Convention.

As I usually do, I did my best to debunk many of the sacred cows of the SOI- business model training industry, such as how important it is to ask for referrals, why it's a great idea to categorize your friends based on their history of referring to you - stuff like that.

The crowd seemed to accept my protestations that this behavior is not only obnoxious, but that it's not terribly effective. Cool.

I closed my presentation by encouraging the audience to evaluate every prospecting strategy that crosses their path from their gut... to ask themselves if the strategy they're considering is one they're excited about and proud of; to be honest with themselves as to how they would respond to the strategy if used on them and whether or not it would annoy them, if used on them. And to trust what their guts have to say on the matter.

A woman in the back of the room raised her hand and asked if I "approved" of Client Appreciation parties. I asked her if she would enjoy holding such an event and she said she would. I responded with "then absolutely - have that party" with the explanation that if you enjoy doing something, it's probably a good prospecting activity for you. Me? Nah, I'd be too afraid no one would show up and it wouldn't be worth the pre-party stress!

But later I gave this some more thought and wish I had just another 45 seconds in that room to share the rest of the story...

Which is... I just can't get excited about the phrase "client appreciation party." Oh, it's not the worst thing in the world, but to me, it sounds like an event specifically held to make me feel obligated to the host with my future real estate business, as opposed to a party where I'll have a great time. I dunno - there's just something about that title that gives the introvert in me the heebie-jeebies - even more so than a run-of-the-mill party invitation might evoke.

Am I saying not to have the party? Heavens no! Party on, my friend! But call it something else! Have your party in conjunction with an event of general appeal - Oktoberfest, Halloween, your or your spouse's birthday, the World Series or Super Bowl, your housewarming celebration (even if you moved over a year ago!), or just your "first annual wine and cheese tasting" party.

Don't approach your precious Sphere of Influence as a real estate agent first and foremost, as if that's all you are to them. Be a friend or pleasant acquaintance, who throws a good party, and oh, yeah, also happens to sell real estate.

The Winter of Soul Cometh!
10+1 Teleseminars for Agents Who Want to Sell with Soul
CLICK HERE TO REGISTER

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Ten Ways to Show Your Seller You Don't Care

Jennifer Allan, Author of Sell with Soul (Sell with Soul) — Fri, 23 Oct 2009 06:54:42 -0500

Now that the listing agreement is signed and your FOR SALE sign is in the yard, you're done, right? Onto the next victim prospect to WOW with your fancy listing presentation and 132-point marketing plan! Of course, most of those 132 points are pretty much fluff & nonsense, but by the time you've overwhelmed the seller with your promises of Exceptional Service and Total Commitment, he probably won't notice.

No, he probably WON'T notice at the time, but he'll certainly notice later. The good news is that by then it's too late! He's committed to stuck with you! And you'll be damned if you'll let him out of your listing agreement after you've spent ALL THAT MONEY and ALL THAT TIME on his listing! Besides, he probably won't have the guts to even ask (whew!).

Want to Show Your Seller How Much You (Don't) Care?

It's easy! Just follow these simple steps...

1. Don't send your seller a copy of the MLS listing entry to get his feedback.

2. Don't let him know when his house officially goes "on the market."

3. Don't offer to do an open house, and be sure to argue with him if he asks you to.

4. Don't call the seller after your open house with feedback.

5. Don't call the seller after you show his house with feedback.

6. Don't call after the first few showings just to check in.

7. Don't monitor showings, but the next time you talk, ask "Have you had any showings lately?"

8. Put up a brochure box, but never fill it (or let it stay empty after the first batch is gone).

9. Don't send the seller copies of your advertising.

10. Don't contact the seller at all until it's time to ask for price reduction or to extend the listing.

If you follow these simple instructions for each and every one of your listings, you will be assured a long, glorious career of prospecting, prospecting, prospecting to keep that pipeline filled! You'll never have to worry about repeat or referral business distracting you from your all-important prospecting schedule...

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The Winter of Soul Cometh

Jennifer Allan, Author of Sell with Soul (Sell with Soul) — Wed, 21 Oct 2009 07:20:30 -0500

And now a word from our sponsor...

The Winter of Soul Teleseminar Series kicks off on November 18th with a show about...ho hum...Creating Your 2010 Business Plan. Nah, it won't actually BE ho-hum, but I'll admit - it might not be the MOST exciting program in the series. But definitely worth tuning in for as our hearts and minds and bank accounts look toward the future...

The 2009-2010 Winter of Soul program is a 10-session series of teleseminars on topics of interest to the soulfully-inclined real estate community. They're scheduled throughout the winter season - from November to March - typically on Wednesday evenings or Saturday mornings. All are recorded, so if you can't make them live, you'll be able to listen in later at your leisure. The tentative schedule is below.

How much? $59. For over 800 minutes of soul!

;-]

Questions? Just ask!

The 2009-2010 Winter of Soul Tentative Schedule

Creating Your 2010 Business Plan - Everyone knows you're supposed to have a written plan. Have you done yours? No? Let's do it together in this kick-off to the 2009-2010 Winter of Soul. Wednesday afternoon/evening, November 18th

Alternatives to Referral-Begging - It's really not necessary to beg, bribe or even "remind" your friends to send you referrals. In fact, this behavior might actually be counterproductive to your goal of GETTING referrals from the people you know. I'll show you what to do instead. Saturday morning; January 16th

Open House Strategies - A panel discussion with four master open-housers on effective techniques to attract visitors, build rapport, get valid contact information (and permission to use it), and much more. Saturday morning, January 23rd

Why Isn't My Listing Selling? - ARGHGH! Why isn't my listing selling? I priced it right, made up a pretty brochure and I hold open houses every weekend! What else can I do? (And no, the answer isn't always "reduce the price."). Saturday morning, February 13th

Selling with Her Soul - For Ladies Only (and the men who love them) - A potentially politically INcorrect discussion on how there's nothing wrong with being feminine in today's gender-neutral world. No, you DON'T have to become a man to succeed; quite the opposite in fact! Mary Beth Bonacci joins me for what I promise will be a fascinating show. Date TBD

Social Media and Your Sphere of Influence - Don't spam your sphere! ...and other tips for effectively using social media in your sphere of influence business model. Saturday morning, February 20th

Rethinking the List(en)ing Presentation - Do you really need a formal listing presentation? Maybe... but maybe not. A panel discussion on various approaches to seller interviews. Saturday morning, January 9th

Don't Be Dorky, Be YOU! - Why is it that real estate agents, many of whom are otherwise fascinating creatures, insist on being dull as dirt in their written communications? You don't have to be a professional writer to create interesting letters, newsletters or online profiles that will make the reader smile... instead of yawn. Date TBD

B.R.A.N.D.'ing with Tom Gosche - Back by popular demand from the Summer of Soul, Tom Gosche, branding expert, joins us to share his unique perspective on personal branding that actually reflects who you are... and inspires you to become the best YOU you can be. It's good stuff. Wednesday afternoon/evening, December 2nd

Beyond Virtual Tours - Virtual Tours aren't just for listings anymore! So far, my friends at CPG Tours and I have come up with nearly 20 promotional uses for virtual tours outside of marketing your listings. Easy-as-pie to put together and a lot of fun to distribute. Saturday morning, March 6th

Register for the Winter of Soul for $59

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Break My Leg! Wish Me Luck for My First Convention!

Jennifer Allan, Author of Sell with Soul (Sell with Soul) — Mon, 19 Oct 2009 07:08:32 -0500

Deep breath. "Good morning, thank you for coming today...!"

Tomorrow (Tuesday) morning, I'm doing my very first REALTOR Convention speaking gig. In Colorado. At the Broadmoor Hotel & Resort, in case you'll be in the neighborhood. My topic? Oh, you can probably guess - "Selling to Your Sphere of Influence, No Sales Pitch Required!"

2.25 hours of scintillating discussion as to how to generate business and referrals from your Sphere of Influence without spending a fortune, jeopardizing your friendships or pestering a soul. If you follow my blog, you've no doubt read a thing or two about my feelings on the matter (NEVER beg, bribe or even remind for referrals, the best way to GET referrals is to EARN them, obligation is a dirty word when you SOI, etc., etc., etc.), but I'm pleased to say that almost all of the material I'm presenting is new. That is - I wrote it specifically for the convention, so while the philosophy hasn't changed, I'm presenting it in a fresh way.

My presentation was not marketed using my "subtitle" of "No Sales Pitch Required" so I'm mildly concerned my audience will be expecting a program espousing the use of formal systems, aggressive stay-in-touch campaigns or some other sort of agent-centric prospecting philosophy that completely disregards the feelings of the prospectee. Hopefully not too many will walk out in protest when they realize that I'm adamantly opposed to such nonsense and instead, propose a softer approach that attracts business rather than pursues it.

Ah well. We shall see.

I'm really excited about the opportunity, actually. And... I'm READY!!!!

I'll let you know how it goes... and thanks in advance for your good wishes!

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Selling to Your Sphere of Influence without Making a Nuisance of Yourself...

Jennifer Allan, Author of Sell with Soul (Sell with Soul) — Thu, 15 Oct 2009 18:00:13 -0500

If you'll be anywhere near the Broadmoor Hotel & Resort next Tuesday, please drop by Hall A at 9:00 am! I'll be there sharing all my secrets for Selling to Your Sphere of Influence - No Sales Pitch Required!

I'd love to meet you...

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Using Facebook to Sell with Soul - a few dos and don'ts

Jennifer Allan, Author of Sell with Soul (Sell with Soul) — Tue, 13 Oct 2009 06:19:31 -0500

Awwwwww... Janie, thanks for the plug! We'll be doing a show on this very topic late in the season of the Winter of Soul...

Via Janie Coffey, GRI - Miami Real Estate (Janie Coffey and Papillon Real Estate, LLC):

Jennifer Allan, the Queen of Selling with Soul, has mentioned more than once that Facebook is just not her thing. If you don't know Jennifer, you should subscribe to her blog, Sell with Soul, first then come back and read this post. Selling with Soul is all about working with your SOI (Sphere of Influence) and really catering to them in a professional, friendly and, as Jennifer says, competent way. It is NOT spamming, cold calling, gimmick driven real estate sales, but basically treating your clients as you would want to be treated yourself. I think Jennifer has gotten a bad taste in her mouth by having possibly too many "friends" on Facebook to be able to have meaningful relationships with as well as become tired and bored of all of the Mafia Wars, Farmville and other inane updates. (for full transparency, I have played all these games and actually enjoyed them, just not allowed them to spam my friends with my game updates).

I have come up with a Dos and Don'ts list of Selling with Soul on Facebook (or how to not piss your friends off) "friends" in this posts means your Facebook Friends,

DO

1. Use the comment or "like" button to let others know you are reading their status updates and agree, share their pain or just enjoyed it. People love to know they are being read.
2. Do follow your friends updates to see what their interests and hobbies are, it is much easier to build a good solid foundation for a relationship with someone when you share a common denominator
3. Do use FB to alert you when it is their birthday (but Don't use FB to wish them a happy birthday, everyone does and it will get lost in the shuffle, give them a call instead)
4. Do post interesting info that you think your friends might find interesting and useful (but don't over-do it, FB is more about the interaction than just posting tons of links) This does NOT mean your listings (see Don'ts)
5. Do be yourself, flaws and all, it allows people to feel comfortable with you and build trust in you as a "real" person, not a marketing version of yourself
6. Use the "chat" feature to say hello to people you haven't spoken to in awhile
7. Create "groups" so that you can filter who you send certain updates to. I.e. if you are having an open house, or there is a sale coming up, you might want to only update your local friends on this. You can create as many groups as you want. Do this early in your FB life, you will be glad you do.

DON'T

1. Use FB as a spam media to post your listings relentlessly. If you have a nice one, you can, of course throw it in, but the quickest way to be unfollowed is to post nothing but real estate stuff over and over again. Seriously. FB is the most personal and relaxed social media and anything perceived as hard selling is taboo.
2. Allow the games like Mafia Wars, Farmville, etc. to post your updates. You can still enjoy these, but honestly, noone else cares what level you reach, who you knocked off or what tree you harvested
3. Stalk people, or anything that could perceived as stalking - use the "if it quacks like a duck" test
4. Tag people in photos without their permission. Not everyone likes to have pictures of them posted that they haven't seen before or like
5. Be upset if someone you send a friend request does not accept. Some people keep their FB very private and some rarely use it so there are lots of reasons (not directed at you) which could explain their reasoning. Let it go.
6. Get so addicted that you stop making personal contact (calls, direct emails) etc. Facebook does not replace more personal contact with your Sphere, only enhances it.

7. Take it personally if someone interacts less than you'd expect or hope, as mentioned above, everyone has their own Facebook protocol

8. And finally, DON'T let irritatig posts and games keep you from FB. If someone bugs you but you don't want to "unfriend" them, hover your mouse over the right side of their post on your wall and the "hide" button comes up and wahlah, they are hidden. You can do the same for irritating games, etc. like Mafia Wars, etc. When a new status from someone comes up, hover to get the "hide" as above, but choose application instead of friend.

Facebook can be as much or as little as you want it to be. If used with care and mindfulness, you can learn more about your friends (both personal and professional) while introducing them to a deeper level of yourself, both of which can build better relationships. This can build trust and deeper connections that can help build your SOI, one friend at a time.

cartoon by Tim Bolton

_________________________________________________________________________________

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Join our Email List, visit our Website, Call me at 786-252-4970 or email me at janie@papillonllc.com

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"If I Only Have $100 to Spend on Marketing..." and the rest of the Unanswered Questions From the first Rookie-to-Rookie Show

Jennifer Allan, Author of Sell with Soul (Sell with Soul) — Mon, 12 Oct 2009 10:05:41 -0500

On Saturday, we kicked off what I hope will be a regular thang over at SWSLand. The first ever Rookie-to-Rookie Show where I invited four newly non-rookies (that is - agents who are just out of their rookie year and survived to tell about it) to share their secrets for, well, living to tell about it!

I thought it was a fabulous show and the post-show feedback seemed to support that opinion. THANK YOU Kathy Jackson, Janice Styles-Hall and Sarah Taylor (and Erin Deric who had to bail last minute, but was there in spirit).

The show was a panel discussion where I posed several questions to my guests about their rookie experience. Questions such as...

How long did it take to get your first real prospect and where did he or she come from?

How long before your first closing, and where did that client come from?

Which do you prefer - buyers or sellers?

What were your most productive prospecting activities?

What would you do differently if you had it to do over again?

What did you spend money on that you wish you hadn't?

How did you finance your venture into real estate?

We then went to the audience and did the best we could to address their questions, but, alas, time flew and we ran out of time. So, as I promised my standing-room-only crowd, we'll hit the rest of your questions here at Active Rain.

I've listed the unanswered questions below. I'll answer them from my experience here in a comment, and ask my guest hosts to do the same. Oh, and DO feel free to post your OWN responses - the more, the merrier!

What can I do if there are no other agents in the office to go to for training or mentoring? I work in a small office where most agents work from home. How important is it to have other agents to learn from or can I just figure this out as I go and as questions come up?

If you really have no money for marketing, meaning you could afford about $100, what would you do?

What did it cost to sign with a broker? Training, books, tapes, leads and so forth.

How important are designations - ePro, GRI, etc?

Have any of you established a niche? If so, why that one? What experience do you have with absentee owners? <--one of two (the other military relocation) that I'm strongly considering... Thanks!

I have heard company provided template web sites don't work. Do you agree or disagree?

How large an area can one person cover?

Has anyone advertised on bus stops?

What are your feelings on new agents joining a team? How do you avoid being taken advantage of on a team as a rookie agent?

Did anyone work a full time 8 - 5 job while starting their real estate career? I find that all the classes, luncheons, meetings, closings etc. take place during the work day.

When you have a listing where the seller wants to "wait ‘til the market improves," instead of lower the price, what do you tell them?

Do the speakers think floor duty and open houses are really worth doing?

How important is the brokerage firm you decide on? Ex: A well known firm such as Keller Williams or Century 21 verses a smaller unknown name? The smaller unknown name has such a better broker/agent split, less fees, etc. Would I be getting more leads from the larger firm or do you find your own clients at both firms?

What is one of the most important things you wish you would have known when first starting in the business?

Stay tuned for the date & time of the next Rookie-to-Rookie show...

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sob Why Did My Friend Hire Someone else? Oh, let me count the reasons...

Jennifer Allan, Author of Sell with Soul (Sell with Soul) — Fri, 02 Oct 2009 08:48:31 -0500

Ooooooh... it hurts. It hurts a lot. When someone you know hires someone other than wonderful YOU to represent them in the purchase or sale of a home.

It's painful - I know it is. I've been there and, especially in my first few years, was devastated every time it happened. So I get it. I understand why it can ruin your day. Especially if that paycheck would have reeeeeealy come in handy right about now.

But you know what? When it happens, it's almost never personal. Seriously. No, I'm not saying that "business is business - get over it" - I'm saying that the person who hired someone else probably had no idea it would bother you. They didn't select AGAINST you, they picked someone else! There's a big difference!!!!

Of course, sometimes it is personal. Sometimes you were selected against (but this is rare, I promise you). When that's the case, you have two choices. You can either be mad at the person for "betraying" their "obligation" to you or you can ask yourself why they felt someone else was a better choice. I vote for Option B. Look in the mirror, take the blame. Strive to improve.

It's also possible that the person is just a jerk and hired someone else to hurt you, I really doubt it. That's a pretty self-absorbed viewpoint, as if this other person's world revolves around you. But if that's the case, well, then that's a friend you really don't need to worry much about, right?

So, what are some reasons a friend or acquaintance might either
1. Pick someone else, or
2. NOT pick you?

I'll start:

Reasons a friend or acquaintance might pick someone else to be their Reeee-la-tor:
1. They forgot you sell real estate
2. Their best friend just got her real estate license
3. They met a real estate agent at an open house and really liked him
4. They called on a For Sale sign and really hit it off with the listing agent
5. They're buying in a specific neighborhood and want to work with the neighborhood expert
6. The agent they hired promised them a commission rebate
7. The husband's boss's wife is a real estate agent, and he wants to kiss up

Reasons a friend or acquaintance might not pick YOU:

1. They don't want to share their financial information with someone they know
2. They thought you specialized in a different part of town
3. They had a bad experience with another agent in your company
4. They worked with another agent in your company in the past and would feel bad hiring you instead of them.
5. They know too much about your personal life and doubt your stability (ouch)
6. They think you work in higher price ranges and wouldn't be interested in their piddly little deal.
7. They know several real estate agents and don't want to hurt anyone's feelings, so they hired a stranger

Any others you can think of?

Don't Forget to Register for the Rookie-to-Rookie Show on October 10th! It's a Freebie!

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What to SAY (or not say, as the case may be) to Respectfully Decline the Monkey!

Jennifer Allan, Author of Sell with Soul (Sell with Soul) — Sat, 26 Sep 2009 06:43:38 -0500

Glad you stuck with me through the Monkey Series! You made it all the way to the punch line.

In case you just stumbled onto this series, you should probably read it from the beginning - starting here. Or not. Your call.

It's really easy for Old Fogie types (like me) to confidently proclaim that WE don't accept Monkeys that aren't ours to mess with, and WE (said in a deep, gravely voice) just tell our clients the way it is and if they don't agree; NEXT!

But it's not that easy, especially for newer agents who really aren't sure what their responsibilities are, and are not in the mood to NEXT anyone. So, here are some tips.

• Don't be an objection-buster (aka Silence is Golden). When a client throws out objections, concerns or stumbling blocks, think before you speak. Often these objections, concerns or stumbling blocks will be HIS Monkeys, not yours. Just smile, nod and make an "I hear ya" noise, and let the client continue. If he wants your input, he'll ask for it directly, but until he does, just listen without offering solutions.

If, after your moment of golden silence, you realize that this IS your Monkey, go ahead and offer a response or solution. If you aren't sure, just write it down or commit it to memory to ponder later. You can always accept a Monkey after the fact, but it's much tougher to return a Monkey after you've accepted it prematurely.

• Ask "What's Your Plan B?" as if you are not guaranteeing the desired outcome... which you aren't. I use this strategy with sellers who are being a little stubborn about pricing, accessibility or condition. I sweetly ask them what they will do if their home doesn't sell for the price they "need" or, at all. This subtly lets them know that while I'll do my best, I won't take full responsibility for their home selling - that's not a Monkey I'll accept.

• A la Jackie Leavenworth, the Real Estate Whisperer - if a buyer or seller looks to you to solve a problem that isn't reasonably yours to solve (e.g. you give up some of your commission to put or hold a deal together), you can gently say something like "I've found that when a real estate agent wants to make a deal more than the other parties involved, it's not the right deal to make." (Jackie has a whole audio CD on negotiations that is superb - check it out at: http://www.coachjackie.com/jackiesproducts). If you like my stuff, you'll love hers.

So, what IS the punch line?

If you know what Monkeys are yours to carry... and which are not... and you respect the other party enough to let him keep his own Monkeys, you'll be a much happier, healthier and RESTED real estate agent!

The Epilogue - I have a very timely situation to share with you about two agents on opposite sides of a deal who both accepted Monkeys they shouldn't have. Stay tuned!

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Sixteen Ways to Keep Your Seller Happy with You

Jennifer Allan, Author of Sell with Soul (Sell with Soul) — Thu, 24 Sep 2009 06:13:50 -0500

What's the Number One Thing "they" say that homesellers complain about?

All together now...

Communication (or lack thereof) from their agent. And, having been on the other side of the For Sale sign a time or two, I can certainly second that emotion. But "communication" isn't just about calling every week to say "Hi, how're doin'?" No, it's also about keeping the seller informed on local market activity. On providing feedback from showings. On notifying him of new competing listings and recently closed sales. And, frankly, on making sure the seller knows exactly what his agent's been up to to promote his home!

If the only time a listing agent contacts a seller is to ask for a price reduction or a listing extension, well, I can pretty much guarantee that seller is less than tickled with his agent. And that agent deserves every bit of his seller's discontent! Oh, the seller may not complain to his agent, but I'll bet he's not keeping quiet around the coffee machine!

The good news is that keeping a seller happy isn't that hard. They just wanna know what's going on and that their agent cares. Is that too much to ask?

Here are sixteen things you can do to keep your seller happy with you. And a happy-with-you seller just might be a great source of future business!

Notify him as soon as the listing hits the MLS and send him a copy of the listing
Send him links to all your online advertising (Realtor.com, Craigslist, Postlets, Active Rain, your own blog, etc.)
Send him a copy of the home brochure before it goes to print and ask for feedback
Make sure he knows when home brochures will be delivered
Schedule an open house right away (yes, you must do an open house)
Call after the first showing(s) to see if he has any questions about the process
Pursue and deliver feedback, especially in the first month
If you do any print advertising, send the seller copies (including Just Listed cards)
Send him a "state of the market" report showing all the competing listings. Update this report every two or three weeks
Call periodically to find out if he's running low on brochures (if it's impractical to keep the box full, just remove it.)
Be sure to provide feedback after open houses (if someone else does your open houses for you, be sure to follow up with them afterwards)
Schedule an appointment to review the latest market activity
Preview any new competition and provide feedback to your seller
Refresh your Craigslist ads and send the seller a link
Ensure that your photos are in season
Ask for feedback on how you're doing

How many of these items do you already do? If you do at least 50% of them, you're blowing away your competition. Sad, isn't it? The last few times I've had my own properties listed, my agents did ZERO of these activities. ZERO... Zero.

A happy seller is a cooperative seller. An unhappy seller is not, and will likely become more and more uncooperative as time goes by. You pick!

RELATED BLOG: Get Good... or Get OUT!

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www.SellingyourListings.com

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The Daily Seduction
Tips & Inspirations to Generate Business from the Very Important People Who Know You

Even If They Don't Complain... Sellers Notice

Jennifer Allan, Author of Sell with Soul (Sell with Soul) — Wed, 23 Sep 2009 06:17:24 -0500

If the brochure box is empty... they notice

If their brochures still show the original price after two reductions... they notice

If their agent hasn't done in an Open House in six months (or ever)... they notice

If no feedback cometh after showings... they notice

If there haven't been any showings in a month... they notice

If their Craigslist ad hasn't been refreshed... they notice

If their agent hasn't updated them on market activity... they notice

If their online photos are from two seasons ago... they notice

If the only time they hear from their agent is when he calls to ask for a price reduction... they notice

Just because a seller doesn't complain doesn't mean he's happy. And just because he's not complaining to his agent doesn't mean he's keeping quiet elsewhere. Trust me on this. If his agent doesn't seem to care about selling his home... the seller notices.

Coming soon - 16 Ways to Keep Your Seller Happy

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The Daily Seduction
Tips & Inspirations to Generate Business from the Very Important People Who Know You

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