real estate agent training tips: It Isn't Personal, It's Called A Negotiation
- 05/29/13 10:59 PM
In recent weeks I have had the pleasure of working with sellers who seem to think that the list price is the starting point of the negotiation and that the price can only go up from there.
Managing Expectations It's not that the listing agents didn't try to manage their clients' expectations, but in these two cases, the sellers had been reading and hearing in the media that multiple offers were back and that buyers were more than willing to pay well over the list price. There was also the "good friend" who "knows a lot about real estate". Always a … (41 comments)
|
real estate agent training tips: Welcome To The Neighborhood - 7 Things You Should Know
- 05/22/13 09:27 PM
As a new real estate agent you generally have more time than money. That was one of my father-in-law's favorite sayings as he drove across the United States, but I like it for new agents too.
Take Control Of Your Fears Most new agents are dealing with a great deal of fear.
What if my client asks me a question I don't know the answer to? What if the prospective client asks me how long I've been in the business? What if I get a client who wants to buy in a neighborhood I'm not familiar with? Get To Know The … (20 comments)
|
real estate agent training tips: Make The Price Reduction Count
- 05/15/13 11:16 PM
At some point in our careers we have all probably taken an overpriced listing or two. Sometimes that listing was way over what we thought it should be and sometimes it's in the ballpark.
Why Take An Overpriced Listing But we all know there are some reasonable reasons to take on an overpriced listing. For starters, if the property is located in a great area, we may be able to pick up clients from consumers calling off of the sign. Or we may get clients at the open houses we conduct. And lastly, we may take an overpriced listing because the … (1 comments)
|
real estate agent training tips: Definitely Not Your Typical House Showing
- 04/17/13 10:36 PM
Today I forgot to ask one of the most important questions a real estate agent on floor duty should ask a caller.
Know The Available Inventory You see, I got a little excited. The caller was asking about a property that had come on the market a few days earlier, but unfortunately that unit was already under contract. But like the trained professional I am (tongue in cheek), I knew of two others in the building and told her about those. She was very happy to hear about these other listings, one of which had just been put on the market … (2 comments)
|
real estate agent training tips: You're Fired - Real Estate Agent Training Tips
- 03/25/13 10:39 PM
If you've never been there, just wait...your time is coming.
You're Fired Call it a "parting of ways", "we're not a good fit" or "I'm not the right agent for you", but the bottom line is..."You're fired". I've only fired one buyer in my real estate career and I have to admit, it felt great! I didn't want to fire this buyer, but I was a new agent and he was trying to do a seemingly complicated transaction. I think I probably could have worked through it, but what he was suggesting just didn't sound...uh...legal. So I fired him and said … (6 comments)
|
real estate agent training tips: What Are You Willing To Give Up?
- 03/04/13 09:47 PM
If you want to make money as a real estate agent, you're going to have to do some prospecting.
Too Busy To Work As I talk with agents, prospecting is one activity that isn't at the top of their priority list. Some agents don't even feel the need to prospect on a daily basis. And for others, when they get "busy", prospecting is the first thing that gets tossed by the wayside. But if you aren't willing to do prospecting you better be willing to revise your goals because you won't reach them Without prospecting you have to give up something.
What Will You … (2 comments)
|
real estate agent training tips: 6 Ways To Help The Appraiser...And Yourself!
- 02/27/13 09:47 PM
As the real estate market improves, we are seeing many more multiple offers...much like what we saw around 2005. The difference this time is that it fueled by well qualified buyers and a lack of good inventory.
Hold Your Breath The properties are often being sold for substantially more than the list price. Often times there aren't even comps to support the higher price. So if the accepted offer contains an Appraisal clause, all of the parties involved have to hold their breath and wait to see what the appraiser will do. Since you are a good real estate agent, you … (3 comments)
|
real estate agent training tips: I Think The Listing Agent Is Shopping My Offer!
- 02/25/13 09:41 PM
As real estate markets heat up, the last thing your buyer wants to think is that the listing agent or seller is "shopping" their offer.
The Drop Dead Date One way buyers have heard/read to avoid this from happening is to put a drop dead date on the contract. I don't like drop dead dates at all. Why? Because what happens it the date passes and the seller still hasn't made a decision? Does the buyer still want the house or not?
No Faxing Or Emailing I think there is another, more effective way for real estate agents to protect the interests of … (140 comments)
|
real estate agent training tips: Exposure To The Market - Does It Matter?
- 02/21/13 09:42 PM
Due to a shortage of inventory and an abundance of buyers, our market has become a seller's market. In the past few weeks we have experienced a lot of multiple offers...in all price ranges. And I have to say, few of us saw it coming.
A Home Buying Frenzy What we are experiencing right now takes me back to the early 2000's when there was a buying frenzy. Due to the shortage of inventory, when a property does come on the market, agents and buyers start swarming. Pre-inspections and Escalation Clauses are not uncommon. But there is one particular listing I want … (5 comments)
|
real estate agent training tips: The Bank, The Investor and The Short Sale
- 02/13/13 09:37 PM
When we are faced with a short sale transaction, we warn our clients that they must be patient. The short sale process can take months and months and months, and still not go to settlement.
But what I failed to do is remind MYSELF to be patient!
The Offer As the listing agent of a short sale, I received an all cash offer to purchase. The buyers were well qualified and provided plenty of documentation to show they had the necessary funds available to complete the transaction. The offer was below the list price, however it was based on a similar … (0 comments)
|
real estate agent training tips: Why Time Blocking Is Critical To Your Real Estate Business
- 02/11/13 09:47 PM
Parkinson's Law
"Work expands to fill the time available for its completion" - Cyril Northcote Parkinson
Have you ever looked up only to find that the time has completely gotten away from you?
How Do You Waste Time? Whether you spent too much time chatting with a client, on social media, on the Internet or simply wasting time...please know that you are not alone. While it is a little embarrassing, we've all wasted more time than we would like to admit. As a real estate agent you are in control of scheduling your time. While this concept sounds good at first … (7 comments)
|
real estate agent training tips: Are You An Unimpressive Real Estate Agent?
- 01/30/13 09:42 PM
I recently heard about an agent in my office who visited an open house and was completely ignored by the real estate agent holding the open. Not that it matters, but the property was listed for over $2 million dollars...can you imagine???
We Never Know Who Or Why What I found interesting about this particular incident was that the agent visiting the open house didn't identify herself as a Realtor (and the other agent didn't ask), and she had her son with her. She could have been a well-qualified buyer for this property or she could have been a friend of the … (4 comments)
|
real estate agent training tips: What Do You Look For In An Offer?
- 01/23/13 09:36 PM
With inventory at an all time low and buyers waiting in the wings to buy, we are suddenly seeing more and more properties receiving multiple offers. We know that sellers love to see an above list price offer, but what else do you look for in an offer?
Financing While the sales price is important, it is even more important to see what type of financing the buyer has. If you are fortunate to receive an all cash offer, than you need to make sure you also receive Proof of Funds. I like that documentation to be 30-60 days old, and … (3 comments)
|
real estate agent training tips: Are You A Giver Or A Taker?
- 01/21/13 09:35 PM
As I was meeting with new agents this past week, I had to reflect back on how I felt as a new agent over a decade ago. I could see the excitement in their eyes that come with the start of a new career. I could also see that fear and anxiety that comes with the start of a new career.
Where Do I Start? As a new agent I remember thinking that I had a lot of work to do...and not knowing where to start. Thankfully there were experienced agents in my office that were willing to share with me what … (2 comments)
|
real estate agent training tips: Is Social Media Taking The Place Of Being Social?
- 01/16/13 09:47 PM
Before you get the wrong idea, let me be very clear...I love Social Media. But just like everything else, it can easily be taken to the extreme. It seems to me that Social Media is taking the place of being social.
What's The Point? For instance, have you ever been out to dinner or at an event and noticed that many of the younger people are all on their phones? I've even had to get on my teenagers about actually talking to their friends when they come over to the house. It seems all they want to do is text, tweet, … (8 comments)
|
real estate agent training tips: Take The Time To Review The Appraisal
- 01/15/13 09:56 PM
While reviewing a recent appraisal I found a few minor details that the appraiser omitted or got completely wrong. Now I don't know if these items add value, but they were incorrect and in my opinion should be corrected.
What Was Wrong He said there wasn't a fireplace - there was a fireplace He said the windows were "average" - the windows were less than 2 years old, better than "average" I'd say He said the bathrooms weren't renovated - the bathrooms were renovated He said the the roof was asphalt - the roof is slate He said there was little … (0 comments)
|
real estate agent training tips: Do Your Clients Feel Special?
- 01/10/13 09:37 PM
My car is 10 years old. It is only the third car I have purchased in my entire life.
This Car Is Different With my previous two cars I took them in to the dealer for servicing until the day it was paid for in full. After that I would simply take them in for servicing at my local mechanic. But this car is different. This car has been paid off for six years yet I can't seem to shake the car dealership's service department.
It Finally Hit Me This past week I took it in because I was told that it … (4 comments)
|
real estate agent training tips: What The 2012 American Taxpayer Relief Act Means For Your Clients
- 01/08/13 09:39 PM
Thank goodness we didn't go over the so called "fiscal cliff"! Unless you've been under a rock for the past few days you know that on January 1, 2013, the Senate and then the House of Representatives passed the American Taxpayer Relief Act of 2012. President Obama then signed the bill into law on January 2, 2013.
Your Real Estate Clients The American Taxpayer Relief Act contained a few things that will be of interest to your real estate clients. As always, your clients should consult their own tax advisors about the impact these things will have on their financial situation.
… (0 comments)
|
real estate agent training tips: What Motivates You? - Real Estate Agent Training Tips
- 01/02/13 09:47 PM
Can motivational speakers really and truly motivate you? Sure they can get you hyped up for 30, 60, or even 90 minutes, but what happens when you go back home, back to the office or back to your car? How long does that "motivation" last? My guess is...not long.
Each of us must find our own motivation, and it's within us, not on some stage, a book or a CD. So what motivates you?
Success Most real estate agents come from another profession in which they were very successful. As a result, they are determined to become a success in real … (5 comments)
|
real estate agent training tips: New Year, New Rules, New You - Real Estate Agent Training Tips
- 12/10/12 09:49 PM
As a real estate agent and real estate agent trainer I am constantly looking for ways to improve myself, my business and the agents I train. As a result, I don't make New Year's resolutions since I try to make changes throughout the year.
But there are lots of people and lots of real estate agents who look forward to the start of a new year to make a fresh business start. Below are a few things that are important to be a successful real estate agent. Some of these I still struggle with, but I wanted to include them as … (19 comments)
|
In recent weeks I have had the pleasure of working with sellers who seem to think that the list price is the starting point of the negotiation and that the price can only go up from there.
;)
;)
