real estate agent training: Despite the Hot Market - Buyers and Sellers Are Fragile
- 06/23/14 01:19 PM
From the outside looking in one would think that being a real estate agent in a hot market is a cake walk. But what the casual observer doesn't see is how fragile buyers and sellers really are...even in a hot market.
Waiting For the Other Shoe to Drop People don't usually look fragile when you see them. Fragile people come in all ages, races and genders. They are doctors, contractors, lawyers, stay-at-home moms, painters, blue collar and white collar alike. You will only find out they are fragile when you start talking to them about their housing needs and you find … (4 comments)
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real estate agent training: Insult My Seller With a Low Offer...Please
- 06/19/14 10:39 PM
Many times you'll hear buyers and even real estate agents say that they aren't writing an offer because it would be too low and they don't want to insult the seller with a low offer. Really?
No Offer is More Insulting In case anyone forgot, the goal for the seller is to get the house sold and the goal of the buyer is to buy a house. As real estate agents we are simply the facilitators. If we have a client that falls in love with a property but thinks the price is too high, but the price they are willing … (0 comments)
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real estate agent training: Let the Data Do the Heavy Lifting
- 06/16/14 11:08 PM
There are lots of things that don't matter when it comes to real estate transactions. Among them are the following:
How much the seller paid for the property Why the seller is moving How much the seller wants to net What I think the property is worth What the seller thinks the property is worth Don't Cherry Pick the Comps These last two items are questions the seller will ask and where you let the data do the heavy lifting for you. When meeting with the seller you want to present data that shows the complete picture of the neighborhood. The … (3 comments)
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real estate agent training: Oh the Place You'll Go - Showing Property
- 06/12/14 01:36 PM
Showing property can be quite an adventure for both real estate agents and their clients. Although the listing agent puts instructions in the multiple listing service...you just never know what you're going to encounter.
Who Let the Dog Out While showing a condo in a high end, high rise building, I open the door to the two bedroom condo and a Golden Retriever runs out. I thought it odd that neither the listing nor the person at the front desk who gave me the key mentioned that there was a dog in the unit. In any event, the dog ran out … (2 comments)
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real estate agent training: Why it Pays to Work With the Appraiser
- 06/10/14 11:06 PM
Appraisals have become a sore spot in many markets. Since appraisers look backwards for what's happening today, their valuation of the property could be considered conservative in a fast market. The same is true when housing stock is low. Appraisers have to go back in time and make adjustments for current market conditions For these reasons alone it pays to work with the appraiser.
Start with the MLS The first thing we need to remember is that the appraisal process is an art, not a science. Appraisers rely on the information in the multiple listing service which is just one more … (0 comments)
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real estate agent training: Forget About the Joneses and Just Do You
- 06/09/14 07:42 AM
It's easy to look at successful real estate agents and think, "Why can't that be me?" "Why do they get so many listings and I don't?" "How is it they get all the high priced buyers?"
All That Glitters... These random thoughts usually come to the surface when your business is slow or when you're in a slump. When everyone around you is busy and talking about their latest transaction all you can do is sit and listen. But let me give you this one little piece of advice...all that glitters isn't gold.
Your Time Will Come What's important to remember … (56 comments)
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real estate agent training: Time Kills All Real Estate Deals
- 06/03/14 10:55 PM
The buying and selling of real estate is an anxiety producing process. Unlike commercial real estate, residential real estate is tied to some very strong emotions, so when one of the parties involved says they want to "sleep on it" you start down a very slippery slope. My experience has been that time kills all real estate deals.
It Starts Out Slow Then Speeds Up When showing your buyers dozens of properties it is easy for them to get the impression that the process is fairly slow. Often times they feel they will never find the home of their dreams. The … (3 comments)
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real estate agent training: Top 6 Pet Peeves About Real Estate Agents
- 05/29/14 11:01 PM
Being a real estate agent is one of the best jobs on the planet. It's also one of the least respected in the eyes of many consumers. I believe we can turn that perception around if we all learn how to play well together in the sandbox. Here are six things that real estate agents do that drive me crazy.
Not Returning Phone Calls My number one complaint with so many real estate agents is they don't return phone calls in a timely fashion, if at all. When another agent calls you it's not to talk about the weather. They want … (55 comments)
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real estate agent training: The Lost Luster of a Listing
- 05/26/14 11:35 PM
Don't you get excited just thinking about the listing appointment? Having an opportunity to get in front a seller is exciting for a real estate agent, but sometimes your excitement gets in the way of reality.
All Listings Are Not Created Equal Because you are so excited about the prospect of getting a new listing, you forget what you are there for...to give the seller a realistic view of their property and how much they can realistically expect to receive for the property. All listings are not created equal. Some properties are simply more difficult to sell because of their … (1 comments)
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real estate agent training: It All Sounded So Easy in Pre Licensing Class
- 05/22/14 11:00 PM
Becoming a real estate agent is kind of like being pregnant...no one ever tells you what it's really like. They make you think that it's just one glorious time after another... and nothing could be further from the truth. I won't go into any details about being pregnant, but I will discuss some of the things that sounded so easy in pre licensing class.
You Get to Make Your Own Schedule Yes it is true that you get to make your own schedule...and that can be good or go horribly wrong. Because no one is there to tell you when to … (2 comments)
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real estate agent training: Preparing Your Buyer to Win
- 05/19/14 10:53 AM
If your buyers are tired of losing in multiple offer situations, it's time that you start preparing them on how to win. Start talking about these four strategies at your first buyer meeting and your buyer will quickly understand what it takes to win.
Get Your Financing Tight It's not good enough for your buyer to be pre-approved. Every home buyer submitting an offer is pre-approved. Give your buyer an edge by working with a lender that has the buyer completely approved and all they need is a ratified contract. Did you know that there are lenders that will collect the … (2 comments)
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real estate agent training: There's No "But" With Competitive Pricing
- 05/12/14 12:06 PM
Setting the price of a new listing is not an exact science. Real estate agents look at the available data...all of it and help the seller determine the best and most competitive price.
Sellers Have a Price Sellers and real estate agents often go head-to-head when trying to get what they feel is the right price. Agents will often ask the seller, "What do you think your house is worth?" Many sellers will respond with, "I have no idea, that's why you're here"...which we know from experience is not exactly the truth. Sellers know what the homes in their neighborhood … (2 comments)
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real estate agent training: Lenders Should Focus on Lending
- 05/08/14 11:05 PM
With the number of people and things that real estate agents have to manage during a transaction, the last thing we want to have to worry about is the lender giving the buyer advice on the property they are buying.
The Lender Giving Their Opinion In the past few months I have noticed something extremely disturbing...lenders giving their opinion as to how the buyer should proceed in the transaction. One of the first examples I heard was the lender telling the buyer that she was offering too much for a property. Even though the buyer and her agent had seen all the … (2 comments)
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real estate agent training: Should Your Real Estate Agent Help You Buy a House?
- 05/05/14 12:29 PM
Two questions for you, why is it okay for everyone else to get paid, but not the real estate agent? Why do some clients feel it's okay to ask for a percentage of our income? Essentially they are asking us to help them buy a house...but why?
Can You Give Me a Discount? This has got to be one of the few professions where is seems to be okay to ask for a portion of someone's income. Imagine deciding to have elective surgery. Doing your due deligence you meet with your surgeon prior to the procedure. The surgeon gives you a … (5 comments)
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real estate agent training: Real Estate Agents, Why Are You Spending So Much Money?
- 05/01/14 05:43 AM
Old school real estate agent advice suggests that you use fifteen percent of every commission on marketing yourself and your business. But I have one simple question to ask in this age of technology...why are you spending so much money when there is so many ways to reach potential clients for free?
Print Advertising The staple of many old school real estate agents is print advertising. However, when I see print advertising now I often wonder...why? I thought it was common knowledge that print readership levels are down and more people are turning to the Internet for their news and information. … (6 comments)
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real estate agent training: Organize Your Day and Find More Time
- 04/28/14 10:59 PM
Real estate agents waste a lot of time. At first glance one would think that real estate agents have it made, after all they get to schedule their own time. But therein lies the issue...they get to schedule their own time.
Time Management is a Struggle Time management can be a struggle for real estate agents. It is far too easy to get wrapped up in activities that give the illusion of working. Procrastination is an art. But if they take the time to schedule exactly what they are going to do every day, they will not only get more … (7 comments)
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real estate agent training: What is Your Seller Looking For in an Offer?
- 04/24/14 11:12 AM
As the Spring real estate market begins to heat up we are seeing more and more multiple offers. As you are reviewing offers, do you know what your seller is looking for in an offer?
It's All About the Money When you think about what the seller is looking for, the first thing that comes to mind is price. Most real estate agents and buyers think that all the seller really cares about is getting the highest price, but that is is not always the case. Regardless of how much the buyer is offering, the seller should be told by … (0 comments)
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real estate agent training: 5 Things New Real Estate Agents Need to Know
- 04/21/14 12:07 PM
Being a new real estate agent is not easy. You thought you had it all figured out and saw lots of dollars signs in your future. Then reality hit. Here are 5 things new real estate agents need to know if they plan on being in the business for the long haul.
You Are a Huge Risk You think because you finished your pre-licensing class and passed your state real estate board exam you have what it takes to be a successful real estate agent. Unfortunately, passing the exam is only the tip of the iceberg. At the beginning of your … (3 comments)
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real estate agent training: Prepare Your Buyer for the Appraisal
- 04/17/14 10:01 AM
As the Spring market heats up, it is easy for real estate agents to forget to educate their buyers on what happens when the Appraiser visits the property and how their valuation of the property can have a huge impact on how the transaction moves forward.
Is the Property Worth It The bank has two evaluations to do. The first is to qualify the buyers and to make sure they have the financial capability to pay for the property. The second is to make sure the property is worth the amount the buyers have agreed to pay for the property. … (21 comments)
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real estate agent training: The Negative Neighbor
- 04/14/14 11:03 AM
The negative neighbor is that person who comes to your open house or home inspection spreading their version of what is happening with the property, the building or in the neighborhood.
You Try to Be Polite The negative neighbor usually appears without a warning and very little fan fare. This past weekend I was visiting an open house and was confronted by the negative neighbor. As I was waiting for the listing agent to let me in the building the negative neighbor appeared at the bottom of the steps shouting, "Are you waiting to see the condo?" There were four … (2 comments)
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From the outside looking in one would think that being a real estate agent in a hot market is a cake walk. But what the casual observer doesn't see is how fragile buyers and sellers really are...even in a hot market.
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