Real estate floor time questions

If you are an agent who takes advantage of the floor time available in your real estate office you will find that your success rate will be increased by the questions you ask of the customer who calls or walks in more so that the questions you answer for them.  Unsuccessful floor time agents spend the most of their time on floor playing operator or information giver and never ask a single question in return.  The questions you would want to ask of anyone inquiring about real estate would include:

  • Do you have a home to sell?
  • May I ask for your name? your phone number? Your email address?
  • Would you like to speak with one of our lenders to discuss mortgage programs available for you?
  • Can we meet this evening?  This weekend?
  • When do you plan to move?
  • When do you plan to buy?
  • What is it about the home you called in on that you most like?
  • When can we get together to discuss your real estate needs

Successful agents will look for every opportunity to engage the customer, asking for the appointment and trying to meet with them whenever possible.

Three traits of a successful real estate agent

1. They listen.  They listen to their buyers, they listen to their 
sellers, and they listen to their coaches and mentors.  Successful 
real estate agents understand that the ability to listen is a key to 
success

2. Successful agents ask for the deal.  With their direct mail, 
listing flyers, websites, business cards, emails, promotional pieces, 
and in their day-to-day conversations with friends and strangers they 
ask for the deal.

3. They run a business.  Successful agents operate with a written 
business plan.  They have planned what they are going to do daily and 
they stick to it.  Successful agents budget not only their time but 
also their money and can account for where both are spent during the 
course of the year.  They consider wasting time and money as not 
operating their business wisely and put into place steps that prevent 
them from doing either.

How do I know that these are three steps of successful agents?  I see 
agents with these traits succeeding daily in my office and am 
confident that successful agents throughout the country possess these 
same traits.  Your future success depends on your ability to add these 
traits to the manner in which you operate your real estate business.

Are you a real estate agent who farms a neighborhood? How is your crop?

Lots of real estate agents will tell you that they farm specific neighborhoods or sub-divisions in their market areas.  Very few are successful at it.

 A real estate agent who truly understands what is involved with farming understands the work and effort to farm a neighborhood effectively.  To realize a bumper crop of new customers, farming needs to include more than just the occasional planting of seed with bulk mail.  To determine if you are really farming an area effectively, ask yourself the following questions:

  • Would the majority of the people who live in your farm recognize you if they saw you on the street?
  • How many active listings are in your farm area right now?  How many are pending?  How many sold this year?
  • How many of these are your listings or sales?
  • What is the average sales price of a home in your farm area? 
  • When is the last time you called or contacted the people in your farm letting them know what home values are doing in their neighborhood?
  • Who just moved into the area? 
  • Who moved out of the area?
  • When was the last time you attended a homeowner’s association meeting?
  • How many open houses have you held in your farm area during the past 6 months?
  • How many garage sales or rummage sales have been held in your farm area over the past 6 months and who held them?

The process of farming is a tough job but when done correctly the rewards are abundant!  If you are going to take the time to farm and area then you should commit to doing the very best job possible.  Your goal is to be the name everyone in your farm area thinks of when they are ready to buy or sell a home.

photo credit by erjkprunczyk

Help I have fallen and I can’t get my real estate sales up!

The economic events over the past several years have taken their toll on real estate agents throughout the country.  Agents who once enjoyed successful sales careers only a few short years ago are now finding sales hard to come by or the market has swept them out of the real 
estate business.  If you are an agent whose business has fallen and you 
cannot get it moving in the right direction you should try the following.

1. Listen to someone else, preferably your Broker or an agent who continues to be successful.  It is possible that due to your previous sales success in years gone by, you started sub-consciously blocking out good suggestions, advice and direction.  Be proactive and ask for help from a peer or mentor.  Listen to what they say and quickly implement it into your business.

2. Have someone hold you accountable.  Now more than ever you should consider hiring a real estate coach or ask your Broker to take an active role in holding you accountable.  The bottom line is that in order to succeed in today’s market it is going to require consistency 
and dogged determination and attention to detail.  Without someone we trust holding us 
accountable it could be easy to miss a few details or skip a few steps, which will slow down your turn around.

Don’t wait, take these two steps immediately.  This market is here to stay and each of us need  help  to get our career moving staying in the right direction.

Photo credit by Bibi

In today’s real estate market, more is more.

One of the keys to not only surviving but enjoying the success other real estate agents are missing is to understand that now more than ever before, more is more.

Those agents who have an ability to generate leads and lots of them, are not fairing as badly as their counterparts in the business.  The ability to consistently generate leads is a skill set most sales people never learn.   So what is their secret?  These top producing real estate agents understand that to have more leads they need to do more lead generating activities.

  • More open houses
  • More center of influence contacts
  • More calling of expired and FSBO
  • More price reductions
  • More internet marketing
  • More door knocking
  • More money making prospecting and marketing efforts, period

The agents who are making the sales today understand that in this real estate market they need to have lots of irons in the fire.  “Being there” is more important than ever before.   Open houses may not always produce contacts and leads but NOT holding a home open guarantees that you will never pick up a buyer or seller lead.  This same principle applies to each and every marketing/prospecting avenue available to real estate agents.

Do what it takes to generate leads and you will excel, even when others fail.

The 3 most important steps of prospecting for real estate business

You cannot have a successful real estate career unless you learn how to prospect  and become efficient at prospecting.  When followed consistently, the following 3 steps will help you grow your real estate business.

  1. Find people.  Real estate is a people contact business.  You must find ways to meet people if you intend to be successful.  You can choose to knock on doors, hold open houses, join clubs and organizations, socialize online or real time.  The more people you meet increases the opportunities to successfully prospect.
  2. Engage those you meet.  One of the biggest mistake real estate agents make is not taking the time to build relationships.  Take the time to find common interests with those you meet.  People love to deal with those they trust and know.  Get to know them.  Be sincere.  Ask questions, be interested in them.  Taking the time to get to know the people you meet could result in a new friend or a chance to learn something new long before you ever help them buy or sell a home or property.
  3. After you have built your relationship don’t be afraid to talk about your business and career.  Of course you should not dominate the conversation with talk of business.  However, well timed reminders that you are a real estate professional and can help them or anyone they know buy or sell a home will be appreciated to those who know you and who do have a need for real estate help.

In summary remember that in order to enjoy a successful real estate business you need to meet people, get to know the people you meet and then ask those people for business.  Developing solid prospecting efforts now will equal sales in the future.

Wearing a name badge can increase your real estate sales

Most agents who have been in this business for any length of time will tell you that they have picked up buyers and sellers simply because the agent was wearing a name badge when out in public.  The perspective customer noticed the logo of a real estate company and since they were been looking/thinking/wondering about buying or selling a home, the agent ended up meeting a  new client.

There are some agents, however, that do not believe that the wearing of a name badge is fitting of our profession.  They are quick to direct you to the fact that we are professionals and well, other professionals such as doctors and lawyers do not wear name badges, so we shouldn’t either.

That seem to be a valid reason, we do want to put on the best professional image we can, right?  If the professional doctor or lawyer believes wearing a name badge is “unprofessional”, who are we not to follow suit.

Right?

We-e-e-l-l-l-l-l-l, there is a bit of a difference between a doctor/lawyer and a real estate professional.  What is the difference?  WE ARE SALES PEOPLE!  They are not.  At the end of the day, we get paid for selling a product, the product being the home or property. 

Sure we provide consultation services, we act as a trusted advisor, yes, we provide information that allows the customer to make their own informed decision but when all is said and done they pay us because of a house or property we sell.

If you need help in seeing the value of wearing a name badge you might want to think of them in this regard.  Think of your name tag as nothing more than running adwords online.  The customer comes across your site (in this case, you in the flesh) and catches a glimpse of your adword (the badge), if  they are in the market they may do the real-time version of clicking on the ad which is approaching you and engaging you in a conversation.  Isn’t that what we want them to do?

Your name tag acts like an adword.  Wearing it when out an about on errands or shopping will put you in front of eyes that might never have met you otherwise.  If it results in one more deal a year, wasn’t it worth wearing?  Slap it on and wear it proudly.  If you are too embarrassed to wear a name badge you are probably in the wrong profession.

Learn how to say no to a listing!

If you are new you may not believe this but there will come a time in your career when you say no to a home seller. Even though you will hear that you must “list to last”, successful real estate agents learn that you do not have to “list everything to last”. You must learn to say no and walk away from listing opportunities and you must learn to identify those listings that you should walk away from.

Unreasonable sellers

The first step of deciding to walk away from a listing opportunity is to recognize when you have an unreasonable seller. If the seller is being unreasonable on pricing, or the seller has a strict guideline of when the home to be shown or they expect you to market their home how they want and not how you know works, all of these are qualities of an unreasonable seller and are sufficient reasons to say no to the listing.

Uncooperative seller

This seller will seem to be disinterested in the entire listing and sales process. It may be that they are selling a home because of a distressed financial situation. They may be unwilling to leave utilities on for the convenience of buyers to not only view, but also inspect the home. These sellers will be unresponsive to your requests for documents that their lender needs to consider a short sale. Keeping the home cleaned and ready to show, making minor repairs are not high on the seller’s priority list.

When you are faced with these types of sellers you will want to turn down the listing. You should be honest and genuine with the seller letting them know that your decision to decline the listing is in everyone’s best interest. Saying no keeps you freed up to handle money making opportunities and not bogged down with unrealistic demands from an owner of a house with no chance of selling.

Photo credit bysmlp.co.uk

Provide the home seller a net proceeds sheet

Net proceeds sheet

estimated seller net proceeds

 

 

 

 

One of the mistakes I find agents making is not providing an estimated net proceeds sheet to the home owner when executing a listing contract.

A net proceeds sheet will show the seller what he can expect to receive when the home sells. The net figure should be based on the cost to sell the home being deducted from the list price.

Providing this information at the beginning of the listing and the following up with a new net proceeds sheet with each offer you receive on the home will eliminate the guess work for the seller and allow you to confidently present the offers knowing that the amount the seller will receive is acceptable.

Top 10 humorous suggestions that will increase real estate sales

Real estate agent humor

Top 10 Suggestions to guarantee success in today’s market:

  1. Prior to cold call nights all agents must stand outside searching for the first star to make a wish upon.
  2. Increase the amount of money tossed into a wishing well from a penny to a buck fifty.
  3. Bulk ordering of St. Joseph statues.
  4. Weekly agent meetings where we sit around singing the Sun will come out tomorrow.
  5. Nightly covert trips to competitors’ dumpster looking for leads.
  6. Sheep and lambs to be sacrificed prior to every business meeting.
  7. Instructions should be provided to each agent on how to cross fingers and toes at the same time.
  8. Direct mail to be replaced with direct begging.
  9. Rub top producer’s head prior to floor time for good luck.
  10. All agents to receive a rabbit’s foot.

If none of these tips are help, then try going back to basics.

How to build a successful real estate career