As a consultant and trainer I work with real estate companies, real estate professionals, developers, investors and private owners to increase their income,
whether it be from their properties (retail) or their commissions (industry professionals).
If you are in the real estate industry or an owner of property, you have goals to accomplish and overhead to cover.
There is no reason that anyone's income should be a product of the cycle of the real estate market. In order to be successful it is important to incorporate a plan
to stabilize your income no matter what phase the real estate market is in. How can you accomplish this and at the same time maintain or increase your
income?
For Real Estate Professionals:
Add an additional specialty of working with investors. If you sell properties, in many cases your potential buyers are purchasing investment properties in addition
to buyers seeking their primary residence. These investment properties can act as an anchor to assist you in increasing your target market of potential buyers, as
well as offer you additional income over and above your sales commissions.
Service your investment buyers by retaining them as clients once the sale transaction is closed. List their property for rental. The lead calls on your rental signs
are great sources of quick and easy transactions for immediate commission. You will find that most of your rental lead calls on signs may not be interested in
that specific property you have listed but easily can be retained as a prospective client that rents, and most likely a future buyer.
In the many years in the rental business I found that my advertising costs were reduced as my listings and signs in front of properties increased.
Other inexpensive lead sources:
Rental Magazines (For Rent Magazine), Rental Websites (rent.com, vacationhomes.com, etc), Craigslist, Robb Report, Wall Street Journal, Door Hangers for rental listings, etc. Your ads for high end rental properties will stand out above the crowd of sales listings and you will be amazed at the quality client base you will acquire.
For Owners of Properties:
The "By Owner" Listings are a challenge in any real estate market, but almost impossible in our current real estate market. Although values have decreased and
you need to retain as much equity in your net profit it is important for you to open all avenues to get your property the utmost in exposure in order to get it sold.
It is important to find a sales professional that specializes in your type of property and in your area. That professional will have the tools to insure the most
exposure to the most qualified buyer.
If your budget will not allow for a full service real estate professional your second option would be to choose a flat fee real estate company. This type
of listing enables you to list your property in the Multiple Listing Service for a flat fee and the only other cost would be the percentage that you would
pay a co-broker that may bring a buyer to purchase your property. It saves you the listing broker's commission percentage. If you sell your home on
your home you will not have to pay the co-brokerage commission. It offers the best of both worlds, selling by owner and also the exposure of the Multiple Listing
Service. Also, you may find it necessary to add on different levels of service from the flat fee brokerage, which you will find is an option in many cases.
Flat fee listings are not for everyone. They are specifically formulated for owners that are familiar with the entire sales transaction and do not need assistance in
negotiating their deal.
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