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Consider the option of going ahead with a real estate agent because he helps the buyer or the seller of the property in more ways than one. Key responsibilities of a good agent make the entire process smooth, transparent, and easy for clients. However, this proposition is fraught with risk because finding a good agent is often a momentous task. This should not discourage home buyers and property sellers from hiring a good real estate agent as he alone can make things hassle-free for you. Therefore, your focus should be to look for an agent instead of searching for properties listed on various sites. Once you have roped in a verified and accredited agent to work on your behalf, the process of buying or renting or selling a home becomes much easier for you.

Local market knowledge

Equipped with local real estate market knowledge, he provides information of relevant properties available in the area. He studies the options that suit your budget and forwards the shortlisted options to you. This saves your valuable time and money. If you are interested, he shows you the properties. He is familiar with the area you would like to live in and offers accurate information about local infrastructure, school systems, water and sewer charges, public transportation and other concerns that impact your decision to rent or buy a home.

Negotiation

He takes care of the tedious process of negotiating the best deal for you. With skill and expertise, he knows the trends prevailing within the local property market and the competitive prices for various properties. You can bank on him to ensure the best deal and save your hard-money. His commission is also negotiable in most of the cases, depending on the level of involvement and effort put in.

Representation

He acts as your representative throughout the entire buying or selling process and therefore you need a reliable person you can fully trust in matters of right price and the suitable property features you need. He follows your instructions, works tirelessly to minimise your daily involvement in the matter of sale or purchase and seeks your presence only when it is unavoidable – to screen the best options for closing the deal.

Legal assistance

His knowledge about local laws related to the buying and selling of property helps you avoid legal issues. It ensures a smooth deal without any potential conflicts. A legally binding contract is drawn up and he helps you with all the paperwork, referring you to the appropriate professionals for dealing with all the legal matters.

Network

As his up to date with current trends, he nurtures contacts and the professional network to flourish his business. This enables him to be aware of a wide range of available property in the area and suggest options to clients with the help of fellow professionals. Not having an intermediary will deprive you of this big advantage. There is a limit to searching properties online or seeking references through your contacts, but if you have an agent, then there is no limit to the options he can suggest with ease. Most of his suggestions come pretty close to what you look for.

Exposure

Having him on board ensures maximum exposure for your property. Years of experience built an exhaustive database of potential customers and he refers your listing or requirement to generate leads. Gives sound advice on the market value component to price it realistically so that it is sold faster. He provides a visual presentation of your property and suggestions to enhance its marketability and coordinates marketing and advertising of your property on various platforms. Besides, the previews and arranges a walk through each potential home, to show properties that match your requirements and answers all your queries at various stages of the engagement to keep you updated of the progress achieved and ensure your satisfaction.

When you work in commercial real estate agency, you will soon see that the industry is very competitive in many respects. In this economy and property environment, many agents are struggling with listing quality stock.

It is not unusual to have other agents chasing your listings even though they may be exclusive listings. It is also not unusual to have some buyers or tenants approach the property owner directly in an effort to get a ‘cheaper deal’. Unfortunately at the time of listing and marketing, a client will listen to anyone that has something to say; you have to control this fact.

On that basis it pays to inform your clients early in your listing processes that they will likely be approached by other agents seeking to take your listing and derail the marketing efforts. When and if that happens you should tell the client to refer all contacts from anyone to you, the exclusive agent.

When you control the property enquiry, you keep these distractions to a minimum. You control all communications and can qualify any enquiry to make sure that it is genuine.

Exclusive Agencies?

In the property industry it is always desirable for an agent to have exclusive or sole agencies. On that basis the client will commit to your services for a fixed period of time and you can control the marketing and inspections.

When you take into account the property type, the level of property enquiry, and your listed property location, it is likely that your agency term should be for a minimum of 90 to 120 days. In that time you can market the property comprehensively and capture the correct level of property enquiry through targeted marketing campaigns.

Some of the more notable problems in competitive real estate areas can best be summarised as follows:

• The signboards on your listed properties are likely to be interfered with or removed. It is not unusual to place a sign on a property and see it disappear within 24 hours. This of course is an illegal process; you still have to find the person that removed or damage the sign.
• When you place a sign on a property, the agents in competition to you are likely to approach the client directly. They will tell the client a number of things to infer that they are the best agent that can help them when the listing expires with you.
• Other agents will tell the client that they have made certain mistakes regards marketing of the property through your, and that those agents already have a source of qualified buyers ready to inspect immediately.
• The other agents will tell the client that they have some buyers that want to look through the property right now and they will simply seek approval from the client to do so. The agents infer that they always conjunct with you and will talk to you later (not true).

Given all of the above, at the time of sale the client is inclined to listen to anything and everyone when they are trying to sell or lease their property. This is a fact and problem you need to control.

Keep Control as the Exclusive Agent

Whilst it is not ethical, other agents will seek to cross over your listing or go behind your agency appointment, and get their ‘foot in the door’ when it comes to that particular property listing. As soon as you put a signboard on the property or list it on the Internet, the property becomes common knowledge to everyone. Prepare the client for the pressures that they will be under and tell them that all enquiry needs to be directed to you as their agent in the transaction.

The successful agents working in the industry provide a high level of service and market knowledge to the established clients and prospects that they work with. The best commercial agents will not adopt unfair and unprofessional business practices, knowing that the word will soon spread locally, and it will have some impact on their image and reputation in the marketplace.

Commercial real estate agents are best to cooperate with each other through an established conjunction agent relationship. When the market is slow, this level of cooperation has benefits all round, both in the sharing of information from closed deals, plus the opportunity to introduce your clients or buyers to other agent’s properties.

When, a homeowner, decides, it is time, for him, to sell his existing home, it may be, for any number, of possible reasons! Some are obvious, such as financial challenges, job relocation, changing personal needs, priorities, etc, while, other motivations, may be, more – personal, etc! Regardless, however, in my, over 15 years, as a Real Estate Licensed Salesperson, in the State of New York, I have learned, and strongly, believe, a primary, initial decision, which, often, has significant impacts, is the initial, listing price, when the house, originally, is, put – on – the – market, to sell. Basically, there are 5 basic strategies, for pricing, your home, for – sale. With, that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, what these are, and, why, it matters.

1. High – end of range: Especially, in these times, where, we see, a combination of limited, available inventory, near – record – low mortgage interest rates, and a sellers – market, many homeowners, seem, to prefer, pricing their houses, at the higher end, of the range! In, some cases, this strategy, achieves its objectives, but, often, risks, houses, which don’t end – up, selling, Using this strategy, should, only, be considered, when the seller, is willing to take some risks (hoping for greater rewards), and isn’t under, time – pressure!

2. Middle, of the range: In most cases, the smartest approach, is, to price a house, in the middle of the range, suggested, by preparing, a professionally, designed/ created, Competitive Market Analysis (usually, referred to, as a, CMA). This, usually, creates, a strong – demand, by, qualified, potential buyers!

3. Lower third of range: There may be, several reasons, for this approach, to listing price! Usually, it creates, a significant demand, from qualified buyers, and, helping, to sell the house, for the best – price, in the shortest – period, with a minimum of hassle!

4. Pricing above the high point: During certain, real estate markets, such as the one, we have witnessed, for several months, currently, we often, witness, listing prices, set, above the higher – end, of the indicated range! When, prices, are rising, quickly, this may help getting more money, for one’s house, but, since most buyers, use a mortgage loan, to help finance/ pay – for, the home, doing this, risks, home appraisals, which don’t, perhaps, justify, the size of the desired loan!

5. Below lowest point: Setting an initial, listing price, below, market – levels, may be indicated, under certain circumstances/ conditions. This approach may be effective, when a seller wishes for a speedier sale, and, believes, creating, a so – called, bidding – war, may, make sense! It may also be a good approach, for marketing houses, with some, unusual circumstances, needs, goals, and priorities!

Whichever strategy/ approach, used, it is important to realize, there is a significant different, between, listing, and selling, prices! Will you be an educated, informed, smarter home – seller?

Getting your first listing can be one of the biggest hurdles in the real estate sales business. There are many ways to get listings, but let’s just cover some of the fastest and easiest ways. I’ll assume that you will like to keep your marketing budget low for your first listing.

I always go back to this, but start by asking your family, your friends, co-workers, ex schoolmates, Facebook friends, and anyone else that knows you. Ask them of all the people they know, who would they say is most likely to be the next person that would think about selling their house. Get them thinking about it. Even if the person they tell you about is not ready to sell yet, you now have a good potential listing lead. You can follow up with them every couple of weeks, and even set up a buyer profile for them on the MLS to keep your name in front of them.

Another way to find motivated sellers is by looking for “for sale by owner” properties, and also by following up with expired listings from the MLS. Again, I am assuming your marketing budget is very low, so let’s go ahead and use an effective yet uncomfortable technique. You can do the same with expired listings. Go directly to the house, bring your marketing material, and knock on the door. What you will say is going to differ between these two types of potential clients, so let’s go through both sales scripts now.

FSBO sales script.

“Hello FSBO person, my name is _______, and I’m a Realtor at _____________. I just wanted to stop by and ask if you plan to use a Realtor to help you buy your next house after you sell this one? (Let them respond). The nice thing about using a Realtor as a buyer’s agent is that you do not have to pay a commission, that is paid by the seller. Can I get a little information about what you will be looking for so I can keep an eye out for you? I can even set up a profile for you on the MLS that will email you listings so you get a feel for what is out there, and of course these services are all free for you.”

Note: Don’t ask to list their house when you first meet them. Most FSBO’s think they will sell it themselves, then get tired of trying. If you are the agent that has been in contact with them during this time, then you have a great chance of being the one that lists their house.

Expired listing sales script.
(Use this the same day the listing expired on the MLS)

Hello homeowner, my name is _________. I’m a Realtor with _____________. I was just stopping by as a courtesy to let you know your home is no longer listed for sale on the MLS. Your listing expired today. (let them respond). Are you still planning to sell your home? (response) Why do you think your home didn’t sell? (Response) (If they are planning on relisting with their current agent, don’t waste any more time. If it is looking promising try to go straight in to a listing appointment, or at least try to set an appointment for the same day or at least within 24 hours.)

Note: Going directly to the persons house is time consuming, but more effective than mailings or phone calls. As your marketing budget grows, your time will become more valuable and you will not want to spend so much time going to all of these houses. Use these techniques effectively and you should be able to bring in some new listings within a week or two. It is a lot of hard work, and you will need to put in a lot of time, but this is a great way to get started spending almost no money.

Although, some believe, holding an Open House, is key to the sale of a house, in reality, it is, just, one, component, in an overall marketing/ selling plan and system. While, nearly every real estate agent conducts these events, the value of them, often, substantially differs, dependent upon, how they are used, and conducted. With that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, 5 extremely important, key steps, to make them, as successful, as they might be. Unless/ until, these are done, effectively, and efficiently, there is the risk, they are wasted, in terms of time, money, effort, energy, and potential results.

1. Marketing/ promoting: The best results come from, determining the best approach/ way, to market and promote them. Which advertising media, might make the most sense, for this particular property? Why do you believe so? How will you achieve, the most, bang – for – the – buck? Start by identifying, the niche, if any, this house and property, fits, best, in, and, then, investigate the best options, to attract, the right, qualified, potential buyers. While everyone wants a big crowd, to be attracted to their Open House, unless/ until, it is, predominantly, real buyers, rather than house – hunters, you will probably not achieve the most desirable objective!

2. Greeting/ welcoming: You only get one chance, to make a first impression. This adage, is true, for, both, the house/ property, itself, in terms of curb appeal, staging, eliminating odors/ clutter, and other negatives. It is also true, of the agent conducting it, and how he greets, and meets, people, at the door, whether they feel welcome, and appreciated, and, directs them, forward.

3. Sign – in: You won’t be able to follow – through, effectively, until/ unless, you get, as much information, as possible, about everyone who attends. While I prefer to get them to, sign – in, via a digital tablet, at least, it’s very important to. at least, get them to do it manually. How can you follow – up, if you don’t have this? When you use a digital program/ application, you can stream – line the process, by automatically, transmitting follow – up, emails, immediately.

4. Show/ Questions and Answers: How well you show the house, often, depends on, how comfortably, you welcome and encourage questions, with genuine empathy, and the thoroughness of your answers/ responses!

5. Follow – up: A real estate agent should consider an Open House, both, as marketing for the subject house, as well as, for you, as an agent. Will you stand – out from the crowd, by being proactive, etc? Use the opportunity to, both, follow – up, for selling this property, as well as making appointments, to show other houses, to those, who aren’t that interested in this one.

Open – houses require much care, attention, time, effort, and expenditures. Doesn’t it make sense, to get them, to get, the most, bang – for – the – buck?