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Recession Proof Your Business

By
Real Estate Sales Representative with Coldwell Banker Wallace & Wallace Realtors(R)

Don't Forget to check out my listings.  Thanks so much.

Real Estate is a challenging business, especially during the recession, but I believe we will still prosper.

Of course I believe social networking benefits us all, and sharing our listings broadens exposure to our properties. Plus, we raise buyer awareness by sharing our blogs.

I believe we have a lot to offer the FSBO's, now more than ever, because it takes a qualified professional to navigate the many calls we receive from unqualified buyers, (we have the expertise and resources available to help those credit-challenged buyers repair their credit in time); and we weed through those who want to rent instead of buy; we educate the buyers on current market conditions and help them understand the value of the houses for sale; and we deal with the showings like we always have. But now, in this recession, we manage the frequently changing needs of our sellers and keep them up to date on what it takes to make their house shine among all the listings and how to compete against the foreclosures in the neighborhood. We manage the presentation of their home. The marketing of their home. The pricing of their home, and in this market the pricing changes alone can boggle our minds, especially that of a seller. Why would a for sale by owner want to face these challenges?  To save on commission? They enjoy the diy concept? There are many reasons. But everyone likes something for FREE.  I think we should offer them free, limited advertising on our personal websites, (I haven't got mine set up, but I am working on it.) For maybe 30 days, then touch base with the fsbo and ask if they're ready to list with an agent now. If not, offer 30 more days exposure on your website. Plus, give them a disclosure form, or something tangible for speaking with you. But most importantly, offer them a service for a flat fee even if they don't want to list right now. When/if they procur a buyer from their fsbo efforts, offer to get them through closing for a small percentage, much less than normal, and only for the services of managing the offer, the termite clearance letter, and working with the lender/closing company... or whatever you feel you should service for the fee you establish.

I know in our local market, we can have many listings, many offers, many failed contracts and only so many viable closings, and since it is closings we need to stay alive, I want to handle as many as I can, even if they aren't from my own listings/buyers. I think now is the time to really get out their and meet the fsbo lead. I know it goes back to the basics we were taught in real estate school, but now we have technology to expand upon. Indeed, we have a lot more to offer.

 

Angelia Garcia
Pure Realtors - Dallas, TX

Those are some great ideas to implement.  Good luck on those FSBOs.

Jul 16, 2009 05:12 AM
Tammy Poore
Coldwell Banker Wallace & Wallace Realtors(R) - Clinton, TN

Thank you, I have had pretty decent luck with fsbo's in the past when I put these plans into action, but now more than ever, we have the tools to offer more, so I think we will greatly benefit.

Jul 16, 2009 06:52 AM
Tammy Poore
Coldwell Banker Wallace & Wallace Realtors(R) - Clinton, TN

I hate to comment on my own blog, but I did extend the invitation to a few FSBO's about putting their house up on my website, but they didn't seem interested. Gotta work on my approach. It wasn't a flat turn down, more like they didn't believe they needed it, they had it online and in the papers.

I will work on how I present this offer in the future.

Thanks, Tam

Sep 01, 2009 04:22 AM