This just in folks the secret to a successful real estate career. In my last blog I touched on something that I think needs a lot more attention. So many people buy all these books, seminars, etc....
The answer to a successful real estate career is simple....It is only two words...
- Honesty.....
No let's talk about that first. What does it mean? Guys, I mean brutally honest. Tell your sellers the truth. If the house looks like crap, let them know. You are not here to make them feel better. You are there to educate and assist them I selling their home. If the market is bad...tell them. If something needs changed...tell them and get it changed. That being said....You Must know your market. Not a little, Not kinda. Really and truly understand what your market is and where it is going. Do Not lie in order to get the listing......Please if you are guilty of doing this STOP!!!! You are hurting yourself, your company, and the entire real estate industry. Don't promise things you can not deliver. If you don't know something say I don't know....If you do inform them. Don't feel intimidated if you don't know something. I learn everyday in this business. In fact on of my mentors told me when I first got in this business, keep in mind he has been in real estate since the waters receded after noah's flood, "Son, the day you don't learn something in this business is the day you need to retire, because you know too much." I don 't think I have ever heard truer words.
- Pricing......
The second big secret. If you price things right they will sell. Marketing was created for things that are overvalued. Price my friends that is the key to selling. If you price a complete dump cheap enough that someone thinks they can make money on it then it will sell. If you want multiple offers in one day price a good home correctly. It all boils down to value. If you think it is a deal you will buy it, most times without question and sometimes in volume. You won't have to spend all those marketing dollars. Your business will grow, because you will be selling homes when everyone's inventory is sitting there stagnate. Banks do it all the time. Watch a foreclosure listing on your mls. Check it every couple of days, and see how long it is on the market. Banks list with agents that price their properties competitively then lower the price rapidly until it sells. In order to price correctly you have to once again really know your market....REALLY know your market. You don't want to leave money on the table for the seller (who you are representing), but you are required to do your job.
That's it guys the big secret...Don't believe me. Look at the agents that have been around forever. How do they price homes. Why are they successful? This is it. They are honest with their clients and the price homes where they will sell... Period.
Let me know what you think.....
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