Should Sellers Price High to Leave Room to Negotiate?
Agents in Action
This is a very common misconception sellers have when listing their home for sale. Time on the market is the #1 enemy for a seller. Historically, we know the longer a home sits on the market for sale, the softer the price becomes. In this episode, I want to share one approach that's worked well for me in these situations. Should you decide to incorporate this into your business or not, the main purpose of discussing this is to be sure you have your go to script, plan... whatever you prefer to call it. Our ability to effectively deliver our responses to common objections such as this can be the...
info_outline
Three Lies Robbing Your Productivity
Agents in Action
I am noticing a pattern that keeps showing up lately during conversations I am having with many agents. Since this seems to be so prevalent, I thought we could talk about it today as it’s likely something many of our great agents in action are experiencing. Even though a simple, and even a common topic, it’s one that is (in many cases) costing you $10,000’s and even $100’000’s in lost income opportunity. Ultimately, this shows up in our lives many ways. Sometimes, it’s having more month than money left at the end of each month...day to day lifestyle choices,...
info_outline
Four Ways to Boost Confidence When Pricing Properties
Agents in Action
Four Ways To Boost Confidence When Pricing Property Typically, when preparing for a listing appointment, most agents will leave their pricing research to a desk review over their computer. If you want to outperform your competition and at the same time...dramatically boost your confidence, go the extra mile and consider implementing these steps to maximize your confidence and accuracy. 1. Preview property every 10-14 days to give yourself a stronger knowledge of your local market, and it will give you more confidence in pricing during the listing presentation. The more real estate you...
info_outline
Personality Styles 101
Agents in Action
Personality Styles 101 - Today we’re going to discuss the D.I.S.C personality styles and how to use this system to have more influence with anyone you are speaking with, resulting in a higher level of communication and ultimately, developing these skills will be an asset to close more business or, increase your overall effectiveness when putting deals together. It’s was something I learned early in my career...probably 20+ years ago now. What’s interesting is I use what I have learned probably on a daily basis, if not several times a week. Knowing first who we are and then, to...
info_outline
The Top 5 Ways Money is Leaking Out of Your Business
Agents in Action
Most Realtor's suffer from the same money leaks in their business and do not even know it. This episode of Agents in Action recap of the most common money leaks or “gaps” I noticed among the agents I have been coaching or met at speaking events this year. It was interesting to me to see these same patterns repeating themselves across the board. It was so consistent, that I wanted to go through these with you so you can take a look at what you’re currently doing in your business. If you can, grab a pen and paper so you can write a few things down as we go through a few...
info_outline
Part 2 of 2 - Mastering FSBO Preview Appointments
Agents in Action
At The Preview Appointment - Objective - Gain access, establish a relationship with & continue to qualify the seller. The Tour: While walking through the property, take notes on the home’s features and benefits. In a casual, yet deliberate manner, ask questions to determine what the situation is with this particular lead. Greeting: Introduce yourself, hand them a business card and thank them for having you over to take a look at the house. (Notice, I say house a lot, not home. Why? Home is emotional, a house is not). Also, assure them you won’t be...
info_outline
Part 1 of 2 - The $40,000 For Sale By Owner System
Agents in Action
A Behind The Scenes Look At The $40,000 For Sale By Owner System. 89 percent of sellers sold with the assistance of a real estate agent, up slightly from 88 percent the last three years, and only 8 percent (down from 9 percent) were FSBO sales. The share is the lowest since this data collection started in 1981. Did not want to pay commission fee: 48% Sold it to a relative / friend / neighbor: 21% Buyers contacted seller directly: 18% Did not want to deal with an agent: 6% Agent was unable to sell home: 5% Seller has real estate license: 1% Could not find agent to handle...
info_outline
Managing Your Time in Real Estate
Agents in Action
Managing your time in the real estate business. First, this is something people struggle with in general, not just Realtors. However, in the world of real estate sales, it appears to be magnified even more as it’s a commission only business. If you’re being paid hourly or salary and mismanage time, for the most part, it's become accepted. Of course, it’s a contributing factor to the lack of productivity, yet, for the most part, things go forward. As a Realtor, you have a much shorter fuse before you find yourself out of time, money or both. As a...
info_outline
Five Statistics Every Realtor Should Know
Agents in Action
How important it is to know your market statistics and position yourself as the goto expert and trusted resource in your marketplace?Fact: I would venture to say 97-98% (or even more) of the Fact: I would venture to say 97-98% (or even more) of the agent's industry-wide DO NOT know the market #s. Have you ever had someone ask you “how’s the market”? What do you say? How effective is your response? What message does it convey about you, your knowledge and professionalism/expertise? Typically, when someone asks this type of question, as a whole, many of us respond in 1 of 100...
info_outline
If You Don't Ask, You Don't Get
Agents in Action
Whenever we get together for an episode of Agents In Action, I often ask myself “what is it I should share this time?” I have been devouring several books these past few weeks, and one of them jumped out as the obvious answer for this conversation. I realized, without one’s ability to do this effectively...especially someone in sales...it can be a long uphill climb that leads to endless frustration. It’s a great book by Mark Victor Hansen & Jack Canfield called “The Aladdin Factor” The book focuses on a skill that arguably, is the absolute foundation for the...
info_outlineTrickle, Flow, Flood - Establishing Proper Expectations with Sellers
Scenario – You just got the listing agreement signed, and you want to now establish expectations, so the seller knows what to expect is going take place over the next few weeks.
Why is this so important?
1. It promotes excellent customer service.
This shows you have everything under control and are highly competent. We’re the expert and as the RE professional, we are here to take the seller through the process and provide direction and demonstrate our leadership. We may do this on a daily basis and in most cases the average seller may go through this process 4-5 maybe up to 6-7 times over their life time.
2. It reduces the seller’s anxiety and their mind from wandering and making stuff up.
Exactly, we don’t want our sellers to be graduates of MSU – Making stuff up.
It’s only normal for a seller to “wonder” what is going to happen next. By telling them what to expect, you’re not only helping them be more comfortable with the process, they are going to have more confidence they made the right decision to hire you and build trust at the same time.
When you leave something to the imagination – as human beings, we can’t help but to go there. Our minds are always seeking what this or that means, even if it’s not accurate or even exists.
3. Allows you to head off any seller remorse and doubt that may show up.
If you haven’t had this happen yet, it will. You do a great job positioning the home to sell promptly, for top dollar, you get a full price offer day one, and the seller feels they priced the home too low and were leaving money on the table. I believe it’s our responsibility to counsel the seller and bring them peace they haven’t left money on the table, nor would the market allow that to happen. Having this conversation will help this
4. Direct the focus of the results, or lack thereof on the property, market and price.
It’s not you, it’s not the seller, it’s simply the way the market is either responding or reacting to the property, its features, price and location.
5. Sets up a much easier conversation should the price need to be adjusted later.
It’s a fact that more/longer our mind has been exposed to an idea, the more receptive we can be to accepting the information. When you set this up from day one, you have set the bar for what the showings that have/haven’t taken place are suggesting. This is the feedback (positive or negative) the market has responded with and will easily open conversation for you to adjust the price if necessary. When you set this up correctly, it will be great leverage for you.