tips for real estate agents: Welcome To The Neighborhood - 7 Things You Should Know - 05/23/13 04:27 AM
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)

tips for real estate agents: Make The Price Reduction Count - 05/16/13 06:16 AM
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)

tips for real estate agents: 5 Steps To Getting Your House Ready To Market - 04/02/13 05:33 AM
We work for the seller, and since we are an employee of the seller, they can basically tell us what they want us to do...even if we believe otherwise.
The First Impression We know that you only get one chance to make a first impression. That is why we insist on getting everything just right before putting a house on the market. Sellers also know this thanks to us telling them, their own experiences and HGTV. Because the majority of home searches begin on the Internet, the pictures we post must be of good quality and the property must show well.
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tips for real estate agents: What Are You Willing To Give Up? - 03/05/13 05:47 AM
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)

tips for real estate agents: 6 Ways To Help The Appraiser...And Yourself! - 02/28/13 05:47 AM
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)

tips for real estate agents: Exposure To The Market - Does It Matter? - 02/22/13 05:42 AM
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)

tips for real estate agents: What Kind of Real Estate Agent Are You? - 02/19/13 05:42 AM
While competing for a listing recently, the seller asked what I charged for my services and whether or not it was negotiable.  When I gave him my answer, he said, "you know there are other agents who will do it for less".
What Do You Want To Be Known For? Before you start arguing that "everything is negotiable", yes, I know.  But I want you to focus on how you run your business...your standard of practice, not the exceptions, because we all make exceptions.   What kind of real estate agent are you?  Are you one who is constantly reducing your commission to get the … (4 comments)

tips for real estate agents: Why Time Blocking Is Critical To Your Real Estate Business - 02/12/13 05:47 AM
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)

tips for real estate agents: Take The Time To Review The Appraisal - 01/16/13 05:56 AM
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)

tips for real estate agents: Do Your Clients Feel Special? - 01/11/13 05:37 AM
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)

tips for real estate agents: What The 2012 American Taxpayer Relief Act Means For Your Clients - 01/09/13 05:39 AM
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.
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tips for real estate agents: Top 5 Things Realtors Need To Spend Money On - 12/06/12 05:56 AM
Becoming a real estate agent is known for having one of the lowest cost to enter.  Whether that's true or not is up for debate, but just because the entry costs are low, doesn't mean that you shouldn't spend money on some essential things.  Here are my top 5 things that every real estate agent needs to invest in.
Top 5 For Realtors 1.  Professional Photos for your listings - Unless you are a professional photographer or have invested in a great camera, with different lens and you know about lighting, than you need to hire a professional.  I realize that … (8 comments)

tips for real estate agents: 4 Things You Must Discuss At Your Listing Presentation - 12/04/12 05:48 AM
The listing appointment is the time and the place to not only educate the seller on the home selling process, but to give the seller a realistic idea as to what they can expect during the transaction.
Don't Just Say Yes It is far too easy to simply say "yes" to virtually everything the seller says because the end goal is to get the listing.  But I am of the opinion that first of all, you don't want every listing and secondly part of our job is to educate our clients.  And that education process is much more than just about the … (6 comments)

tips for real estate agents: Realtors Are An Easy Target - 10/11/12 05:37 AM
Have you ever been in the midst of a difficult transaction and found that nothing you ever did seemed to please your client?
Real Estate Agents Deliver The News It doesn't seem to matter to them that you are the middle man simply delivering the news.  When things don't go the way they think they should, they want to attack you and bend your ear (I'm showing my age) and act as though it's all your fault that...
The lender needs one more document the day before closing The settlement company found a lien on the property that the seller has … (4 comments)

tips for real estate agents: 4 Reasons Why You Should Go Into The Office - 10/04/12 05:35 AM
Many real estate agents adore their home office.  And why not, it's convenient and they don't even have to get dressed to go to work.
But being a real estate agent can be a very isolating business and if you're not careful it is easy to become trapped in your own little home office bubble.  That's why I highly recommend that you try to spend a little time in your broker's office...and here's why:
1.  Training -  If you are fortunate enough to work with a broker who offers training, outside of continuing education courses, you need to take advantage of that training.  Not … (9 comments)

tips for real estate agents: How Do You Manage Your Contacts? - 09/25/12 05:44 AM
Quick question for you...How you organize your contact list?  For years, and I do mean years,  I used to struggle with organizing my contact list.
I Tried Everything I tried everything imaginable...Outlook, notebooks, index cards, you name it.  I even paid a monthly fee for a contact management program that I barely used.  Yet even after all of these attempts I couldn't seem to find a method that I really liked and one that worked for me.  So I gave up and went back to basics.
My List Was Too Big But before going back to basics I determined that I … (7 comments)

tips for real estate agents: "You Can Call Me Anytime" - Real Estate Agent Training Tips - 08/28/12 05:25 AM
What makes you different from all the thousands and thousands of real estate agents in your market?  Is it because you are available to your clients 24/7?
Are You Being Completely Honest? I actually cringe when I hear real estate agents say they are available to their clients 24/7...or what they like to say is, "you can call me anytime"!  But is that the truth? I don't think so.  Will you really pick up your phone when a client calls you on Saturday night at 11:30?  How about 2am on Tuesday morning?
We Need To Manage Expectations One of our major jobs throughout … (9 comments)

tips for real estate agents: The Mysterious Underwriter - 08/10/12 04:54 AM
The one person who can make or break a real estate transaction is someone we, as real estate agents can never talk to.
For better or for worse we are forced to deal with whatever they say. It doesn't' matter if what they say is complete nonsense. We cannot plead our case...we have zero contact with them...the Underwriter.
I Understand Their Job We all know that the Underwriter has an extremely important job in making sure that everything in the loan package is complete and to ensure that the documents provided are legitimate. So I don't mean to suggest that I … (10 comments)

tips for real estate agents: Our Clients Make Us Better Real Estate Agents - 07/31/12 05:42 AM
No matter how long you have been a real estate agent...no matter how many transactions you've had...you can learn something from every single transaction.
The Most Difficult Transactions Although we tend to talk about the real estate transactions that have gone off course, I would have to say that the majority of the transactions we work on go fairly smoothly. But if you listen to us real estate agents you would think that most of our transactions are total disasters. But it is with those most trying, most difficult transactions where we learn the most about our business and ourselves.
Difficult … (3 comments)

tips for real estate agents: Put It In Writing - Real Estate Agent Training Tips - 07/06/12 04:34 AM
In the course of negotiating, there is a lot of give and take...the seller wants one thing and the buyer wants something else. But when does the negotiating process begin?
Verbal Real Estate Offers As real estate professionals we try to help each side move forward in the negotiation and hopefully meet somewhere in the middle. In recent weeks I have had several agents make verbal offers or a verbal counteroffer. Although I can sometimes understand why an agent would do this, it still doesn't make me feel comfortable.
The Offer Is So Low, Why Bother I have found that agents … (8 comments)