Posts tagged: real estate

Trying to list FSBO’s? Here’s what your marketing needs to stress.
You know why home sellers are trying to sell without your help. They think they’re going to save a lot of money. And to be absolutely honest, those who know what they’re doing, have nerves of steel, and who don’t need to go to a job every day can come close to doing what you can do.

As for the rest of them… your marketing needs to gently point out that they simply don’t know what they’re getting into!

No, you can’t say that. Making a would-be client look or feel foolish is definitely not the way to earn their business. So you need to be gentle in your presentation.

You need to offer some help in the form of tips, or perhaps clue them in about the various disclosure forms they’ll need. You might offer some advice about how to steel themselves against the insults they’ll hear as buyers try to push the price downward. (I used to laugh to myself about the comments buyers made to me. Sometimes I wanted to ask why they wanted to buy the house since they hated it so much.)

And of course, you need to remind them that buyers will try to point out that they’re not paying a Realtor so naturally they can sell the house for less.

Before embarking on do-it-yourself home selling, homeowners should ask themselves:

• Do I know how to determine their home’s value in today’s market?
• Am willing to work with and pay a buyer’s agent?
• Do I know how to market my home and get it in front of enough buyers?
• Can I deal in a civil manner with people who severely criticize my home?
• Am I willing to demand that buyers reveal their financial situation before I take my home off the market to negotiate with them?

You should touch on all these points when you’re talking with FSBO sellers, and you can incorporate them into a special report or a series of real estate letters to mail to them. If you enjoy writing and have a few extra hours you can create letters that are uniquely yours.

If you don’t enjoy writing or don’t have extra hours, you can buy pre-written real estate letters and just get busy sending them.

Either way, real estate letters written in this manner are a soft-sell technique that will position you as a non-pushy, non-threatening agent who knows how to sell homes. With each letter you’ll become more of a trusted adviser, so that when they do decide they need help they’ll naturally turn to you.

But how do you first contact these people?

One way is to offer the special report on your website. Visitors opt in to get the report and their addresses are automatically entered into your auto responder to receive the letters.

You could write down addresses and try to locate the names to go with them, or (Please, no!) write to Dear Homeowner. I personally think you should use an opt-in on your site even if you take the hands-on approach… which is to get out there and meet the people.

I know – that can be a little bit scary. But if you decide what you’re going to say ahead of time, and practice it, it will get easier.

Write a script that sounds natural to you. Something along the lines of “Hi, my name is Sally Jones from ABC Realty. I see you’re offering your home for sale by owner and I stopped by to ask if you were willing to let buyer agents show it to their customers.”

If you say it all at once, they won’t have a chance to say “I’m not listing” and slam the door on you.

Some of them may not have thought about the fact that some buyers want agent representation, so at this point you may need to explain the procedure. If you have a buyer list you mail to, you could mention it. If you use a one-time / one-party listing agreement, do mention that as well.

If they say yes, they’re willing to work with buyer’s agents, do ask for a tour and do take notes. You could even snap a picture to go with the notes.

The important thing is that you don’t ask for the listing at that time. (Not unless they throw themselves at your feet and beg you to take over this horrible job they got themselves into. In that case you must be a good samaritan and help them. )

If they say they don’t want to work with buyer agents, be polite and friendly and say “OK, I’ll let the others in my office know so they won’t bother you.” You might also throw in something complimentary about the house and tell them that if they change their minds to let you know, because you’d sure like to show it. Give them your card, of course.

Before you leave, tell them that you have a special report with tips for owner-sellers and you’d like to send it to them. That gives you the opportunity to ask for their names. You probably should also ask if the house address is their mailing address, since some people do prefer post office boxes to home delivery. Mail the special report as soon as you get back to the office, and enclose a nice little handwritten note thanking them for talking with you. If you can come up with something more personal to add, do it. For instance, if they were about to leave for a child’s soccer game, say you hope their team won. That’s just to show that to you they are more than just a house address – you noticed who they really are.

Be sure to enclose another card just in case they tossed the first one the minute you left.

Then, every few days send along a new real estate letter with a new bit of advice that will be useful to them. Do end each letter with an offer to help should they decide against doing this on their own.

The best, finest, and most meaningful/ relevant way, for real estate agents, to explain, professionally, their reasoning, marketing and selling plans, is to create a thorough, Competitive Marketing Plan, or, CMA, and explain it thoroughly, to their potential, and existing clients! This must be, more than, merely, a cursory, explanation, and examination, of home prices, but, rather, must become a key part of the strategic and action plans, which will be used, to bring forth, the best possibilities! As a Real Estate Licensed Salesperson, in the State of New York, for over 15 years, I have prepared innumerable plans, and consider them, to be one of the most important documents, and steps, in making the process, smarter, better, easier, less stressful, and faster. With that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, 6 important components/ factors, in preparing, and taking advantage of a professionally designed, Competitive Market Analysts.

1. Market trends/ conditions: It’s important to create a strategy, based on specific, local, and/ or, regional trends, and conditions, because what works in one place, may not, in another. What are some of the local nuances, etc, which might impact the marketing strategy, as well as Listing Price, etc?

2. Recent sales: It’s not enough, to, merely, examine and consider, recent sales, and/ or, Listing Prices! Selling prices must be examined, carefully, and the more current, the closing date, the more significant! One must, however, carefully, compare, a variety of features, including the specific block, local schools, community safety, specific home features/ inclusions, etc.

3. Expired Listings: This process must include considering Expired Listings, and the probable reasons, they may have not sold! If there are a lot of these, it indicates one thing, but, even, if there are fewer, a common link, should be searched – for, and examined! Perhaps, the reason was pricing, and, if so, should provide key information, in preparing the document.

4. Features/ condition/ upgrades/ lot and house size/ specific block, etc: Avoid comparing apples, to oranges! Take into consideration the included features, and value of these! What is the overall condition of the subject property, compared to the competition? What upgrades have been made, and what is the impact of these? Be certain to consider, both, the lot size and shape/ usability, as well as any advantages, and/ or, disadvantages of the specific block, etc?

5. Specific location: Compare specific locations, and the pluses, and minuses, of each. How might these affect pricing, etc?

6. Know your client: Before, any agent/ client relationship, it is important, for a real estate professional, to know, and understand his client, and, be able to thoroughly, completely, communicate, on essential marketing and selling strategies. The CMA will only, make sense, and be effective and meaningful, if/ when, an agent and client, work together, and take advantage of quality teamwork!

Since, for most people, the value of their home, represents their single – biggest, financial asset, doesn’t it make sense, to proceed, wisely, and in a well – considered way? Before hiring an agent, carefully examine, the professionalism, and thoroughness, of the Competitive Market Analysis!

The United States real estate market is growing faster then ever before. Sarasota has become a pre-construction real estate hot spot. Pre-construction is the most profitable phase of investment in real estate. New construction offers a wider choice of location and layout, with the most desirable finance options. Pre-construction is considered a healthy investment, making investors wealthy beyond their wildest dreams. Investors in pre-construction real estate are willing to take bigger risks for a chance to make huge profits.

Sarasota has for long been an upper class vacation destination with its pristine white beaches, exciting nightlife, 5 star restaurants and hotels, and its interesting mix of cultures. The Sarasota pre-construction market has witnessed a boom in the last few years. There are downtown condos, beachfront high-rise condos, single-family residences and mansions under development. Sarasota is a sellers market and most properties remain on the market only for small period.

Prices of Sarasota real estate in its pre-construction stage are significantly lower and more affordable to the investor. Pre-construction sale has shown a significant increase over the years and continues to grow. Investors have the advantage of not having to pay any local and state taxes for many years.

Pre-construction deals are usually not advertised in the initial stages. Deals are mostly brokered via a network of estate agents who sell directly on behalf of the developers. Brokers reserve a number of units for their top clientele. The second stage of construction brings on a 10% increase in price. On selection of a property, an investor pays a deposit of around 10% of the purchase price. An additional 10% is usually paid within the next three months. Investors are able to sell their units within a year at a profit of 20% or more.

The increasing interest in Real Estate investment trusts shows that real estate investment return is becoming an important part of a Sarasota investor’s investment portfolio.

As a real estate agent, your success in attracting listings is going to be faster if you have a lot of signboards placed on properties in your local market. Quite simply, the more the local people see your name on signboards the more they will identify with you and remember you when the time comes to sell.

No vendor wants to list their property for sale or lease with an agent or salesperson that is unknown. For that reason when you start off working in the industry or when entering a new area you should do a lot of work in the first few months to build your name. It’s called personal branding. The most successful salespeople have it. Most other salespeople have little of it.

When you start to build your brand you should regard it as an ongoing task that will not stop. The bigger your personal brand, the better things will be for you.

It sounds simple as a base concept in territory management and selling real estate. However such a principle needs to be stated again here as it is overlooked by so many. In absolutely all respects your success in real estate sales is almost totally up to you and how you market yourself.

So now let’s go back to the point of putting lots of signboards into your real estate market. Here are the rules to the process:

1. Getting them placed on properties located on main roads is very important as it will give you free advertising.
2. The signs have to be of similar branding and colour to build consistency and image.
3. Always put your name on the sign boards and include a mobile phone number for out of hours contact.
4. Keep the signboards free of graffiti as that will send the wrong message to the other vendors in the area.
5. Within reason use the maximum signboard size that the local council will let you use.
6. Put some property reference number on the sign so the person calling can easily identify the property to you.
7. The sign has to be located in the best position on the property so it is seen by passing people and traffic.
8. Make sure the sign is secure so you do not have a damages claim from a falling sign.
9. If possible use a photo sign that features your photograph as well as some photo from the property. This will also help with your personal branding.
10. When something is sold or leased, make sure you get a label placed on the existing sign so the market knows of your success.

When correctly approached your signboard strategy can go a long way to helping you build market share for your real estate office and you personally. That signboard will attract more listings and inquiries your way. A very good outcome when you work on commission.

1. Advertise! A study conducted by the National Association of Realtors revealed that 92% of buyers use the internet to house hunt. Make sure your open house dates are available through Zillow. With over 130 million visits per month, Zillow is a great place to start.

2. Invite neighbors to a appetizers or a wine and cheese party at your open house. It’s a great way to network and prospect. Socialize and have fun.

3. Everyone who visited your open house is a potential buyer so create an automated nurturing email marketing campaign to stay in touch. Make sure to also follow up within a few days so you can reconnect and help with their home buying search.

4. Be strategic with open house signage. Sandwich boards are great, but also mix it up with signage that is legible from a distance of at least 30 to 50 feet. Place directional signs to advertise in a five block radius ro reach a wider audience. Add helium filled balloons to attract attention.

5. Depersonalize the property. Remove family photos, diplomas, awards and anything else in the home before the open house. By removing personal items, the home doesn’t belong to any particular group of people and visitors can see themselves in the home.

6. Clean and organize closets and other storage spaces. Buyers will open closets, drawers and anything else with a handle. Instead of an avalanche of boxes when they open the storage closet, make sure closets are clean and organized.

7. Target local homebuyers with online advertising. You can even target potential buyers according to zip code through Google AdWords, Bing, Facebook and other online resources. With Facebook, you can add photos of the property and link to a landing page where more images of the home are available, plus a contact form to learn more.

8. Advertise by drone. Yes, drone advertising. Hoovy advertises open houses by attaching banners to drones and flying them in public places for real estate agents. Hoovy flies the drones at about 60 ft from the ground to be closer to the public.

9. Staging can help sell a home. Group your colors. Try to limit colors to just three per room. Keep larger items lower. If you have an even amount, take one away. Always keep quantities to an odd number as it is more visually appealing. Mix throw pillows and to create a spa appeal, add white towels to bathrooms.

10. First impressions are important. Simple updates to the entry can make a world of difference. Add a planter. If the door is worn, a good coat of paint can make a difference. A new welcome matt will make it more inviting. Sweep, clean cobwebs and remove anything worn.

11. In one study, 30% of people reported scented products as “irritating.” Skip the air fresheners and candles. Instead, encourage your seller to shampoo carpets, open the windows and let in the fresh air, deodorize appliances and toss throw rugs in the wash.

12. Experiment with lighting before your open house. Try opening shades and curtains, turning on different sources of light.

13. Advertise in small local newspapers as not every buyer is internet savvy. Many retirees read local papers and you’ll get a lot of mileage for your investment.

14. Consider a themed open house. If the home is Mediterranean design, consider presenting tapas. If it is a Spanish style, nachos may be perfect. Give your potential buyers a unique experience to remember the home.

15. Have handouts with your contact info ready for buyers to take. Mortgage Loan Breakdown and a glossary are two great handouts. Neighborhood information like local schools, grocers, restaurants and the “walk score” are great information. And attach your business card to every handout. Have a sign in sheet for visitors and capture their name, phone number, email and any other pertinent information. Follow up a few days later.

16. Email prospective buyers and invite them to your open house. Showcase the home in the email and include a professionally branded email signature. And offer to preshow the home. Why wait? Give prospects the ability to schedule time with you to tour the home early. Add an online scheduling link so buyers can set a time without fussing with the phone, call backs and waiting. After all, in this competitive market, the home could be pending by the time the open house arrives!

SAN DIEGO, CA – “Buy low, sell high” is a well-known adage attributed to the legendary billionaire investor and philanthropist Warren Buffett. Looking at today’s super-hot residential real estate market is hard not to wonder how much longer this craziness will continue.

Buyers are in bidding wars to buy homes, multiple all-cash offers with no financing, no contingencies, sale prices tens or even hundreds of thousands of dollars above asking prices, double-digit annual home price appreciation, and a very low inventory of homes for sale.

According to the Case-Schiller Home Index, the average annual home appreciation in the 20 major metropolitan areas was 14.6% year-over-year as of this past May. Phoenix had the highest annual price increase of 22.3%, followed by San Diego’s 21.6%, and Seattle at 20.2%.

I vividly remember that back in 2005-2006, at the peak of that last super-hot residential real estate market, many were saying that the market would continue to thrive and prices would go up for at least another ten years.

Yet, by 2007 the home prices started to deteriorate and by 2009-2010 a wave of short sales and foreclosures dominated the previously super-hot markets. The hardest hit places like Phoenix and Las Vegas had property values depreciated in some cases by over 50%.

But this time it will be different… not. If there is one thing certain about real estate (and life in general), it is that it is cyclical. Every boom is followed by a bust, and every bust by eventual recovery and then another boom, etc.

In case of real estate, cycles are usually much longer than those of the general economy and they last, on average, about 15 years. In this particular case, it is important to note, that we are discussing a residential (homes) real estate cycle, which can be quite different from a commercial (investment properties) real estate cycle.

So, where are we today? The interest rates, including on mortgages, are at ultra-low levels. For example, recently our sister mortgage company closed a 15-yr fixed rate loans as low as 1.99%. This is quite remarkable given that the inflation rate is sky-rocketing. Just this past June, the inflation jumped by 5.4% year-over-year.

This was the largest increase of inflation since 2008. At this pace the U.S. is on the trajectory to have a double-digit inflation by 2023. Compare that to annual inflation rates of just 2.4% in 2018, and 1.8% in 2019, and 1.3% in 2020.

Money supply, government debt, and the public spending by the Federal Government are enormous. It seems that not too long ago, when the politicians were arguing about the federal budget, they were talking about millions, or at the most billions of dollars. Now if it is not a trillion, it does not seem to be a big deal.

The U.S. unemployment has been steadily improving since its peak of 16% in May, 2020. As of early June, the unemployment rate was around 5.9%. However, these figures can be misleading as they don’t include folks who are “under-employed,” e.g. went from a full-time to a part-time jobs, or those who earn less now than pre-pandemic.

Additionally, they don’t count workers deemed “permanently unemployed” (unemployed for more than six months) and those who “stopped looking for work”. The “real,” or the so called U6 unemployment rate, is around 9.7%.

So, how all of this translates into the residential real estate market? The current real estate cycle is about 15-16 year old, which is worrisome, but basically, as long as the money is so cheap, buyer demand so high, and supply of available homes for sale so low, the “music is still playing.”

Furthermore, we should not underestimate the “Covid-effect” on housing. One of the reasons why homes became so valuable was because of the lockdowns and the resulting work-from-home, teach-from-home, play-at-home and eat-at-home paradigm shifts.

If the cycles are the law of the universe, then it is safe to assume that this cycle must change too. When? Nobody knows for sure, as we realize that the cycle has changed only after it already did.

However, in my estimation, the catalyst for the change will be an increase of the short-term interest rates by the Federal Reserve, which sooner or later will have to happen given the high inflation.

Our real estate brokerage receives lots of inquiries from buyers and investors wanting to purchase properties. In our opinion, real estate buyers should proceed with extreme caution in such an over-heated real estate market.

The double-digit annual price appreciation is absolutely unsustainable as the real wage increases are in the low single-digits. It is important to understand that real estate is not a very liquid asset and there are substantial costs associated with selling it.

For most residential property owners, real estate should be a long-term game and buyers should take that under consideration when considering purchasing properties. When the inevitable market correction comes, home equity can be greatly reduced or even wiped out in case of highly-mortgaged homes.

In such instances, property owners can find themselves “upside down” on their mortgages, meaning they will owe more than the values of their properties. Short-sales and foreclosures will become familiar terms again.

On the other hand, the lucky residential property owners who currently own highly-appreciated real estate assets, maybe in a perfect position to cash out on their equity now when the market is hot and the prices are high (remember what W. Buffett said).

Residential home builders, especially those who build in the lower price ranges with projects that are already going, or about to go vertical and will deliver completed homes in the next 12 to 18 months, are in good shape because the current buyer demand far exceeds the supply.

However, past that time frame, it is anybody’s guess. Exorbitant prices of materials, high costs of land and labor, and onerous government fees make it hard for builders to deliver affordable houses and make a profit.

There could be another important consideration for selling sooner than later: Uncle Sam. The current administration openly talks about increasing taxes and in spite of their election promises, it is not going to be affecting only the “rich.”

For example, according to their latest tax proposals, the home-owner exemption from the capital gain taxes when selling primary residences, may be greatly reduced or even entirely eliminated. Oh, by the way, the capital gain tax rate is also going up.

Another significant tax change on the horizon for those who own any investment properties, even if it is a small rental house or condominium, is a proposal to reduce or eliminate the so called “1031 Tax Exchange” under which capital gain taxes can be deferred on investment properties, including small and large rentals.

Each situation is unique, but my general advice for Clients who want to buy real estate now is that there needs to be a compelling reason for them to do so. I recommend being patient and not buying into the frenzy, which sooner or later will pass.

Again, let us remember what W. Buffett says about buying low and selling high, and he certainly has a track record (and the bank account) to prove that he knows what he is talking about.

For Clients who own real estate and want to hold it for a long-term, I recommend that they review their mortgages and interest rates (if they have any loans on their properties).

If beneficial, they should look into refinancing them, with or without a cash-out, to take advantage of these extremely low interest rates, which at this point are way below the inflation rate, which makes them practically a “free money.”

For Clients who are considering selling or have shorter term ownership plans, this might be a great opportunity to review their properties’ values and determine if selling now, while the market is super-hot and the prices are super-high, is a good idea.

In conclusion, nobody knows what the future has in store, but a couple of things are certain: real estate is cyclical and change is inevitable. The current residential real estate market cycle is mature, prices are very high, and thus it is reasonable to expect a market shift.

Buyers are out there, it’s just a matter of rounding them up and keeping in touch. It helps to be able to determine which type of buyer you are hunting for from the start. Remember this: you’re the person who has something they want when a buyer calls you; if you are calling them then you are trying to sell them, let’s insure buyers call you so you remain in the position of power from the start. You should Be a Real Estate Heavy Weight.

Let’s look at a few categories of typical buyers to get some perspective on their mindsets and how and when we’ll market to find them in order to supply their real estate buying needs.

o Rehabbers: These are folks looking to fix and flip property for quick turn profits.
o Landlords: These are folks looking to buy to rent out to others for long-term equity accrual while generating a positive cash-flow every month.
o Wholesaler’s: Will either buy or put an option on your contract to hopefully flip the paper to another buyer who is willing to pay more.
o Lease Option end-buyers: These are folks who can’t qualify for a loan of their own but want to be home owners as opposed to renters again.
o Retail Buyers: These are end buyers who can obtain a mortgage or have cash and generally buy the property for their own housing needs.

There are variations of buyers out there but the above 4 types are generally considered the prime targets of people who have property to sell. Understanding each buyer’s mindset helps you to market to those buyers interests, do they want quick cash, long-term wealth, tax deductions, a place to call home etc… If you ask enough general questions you’ll quickly discern which type of buyer you have at hand. Once you know, you can then tailor your offers and present properties that satisfy what is important to them.

Buyer: Someone who is ready, willing and qualified! Those that aren’t qualified may be perfect tenants, lease option buyers or owner finance candidates, so qualified can have different meanings.

Ready: Someone who is in the market to buy within 1-45 days, keep in mind a retail or lease option end-buyer generally buys once and they’re out of the game, landlords, rehabbers and wholesaler’s are more likely to buy multiple properties from you over time as they accumulate, sell or flip existing assets. Having active buyer’s lists in different categories that are often ready to buy property is a very smart way to operate.

Gee Danno, how do I find these people? Ah! I’m so glad you asked! Let’s start out with one of the all time greatest methods to kick-start your building a buyers list. In your search for bargain priced properties of your own, it makes sense that you will eventually find a very good deal, once you have a superior deal to offer you turn around and market that property at cost! Yep, no profit for you on this one. Why? Because you are going to advertise that property to every investor and potential property buyer on the planet!
The reason for this is that you will get the most calls and response when you advertise a screaming deal! Granted you’ll most likely sell that deal relatively quickly but you’ll be gathering information from each potential buyer who calls to build your buyers list for future properties that you offer. If you don’t have a property of your own to sell, ask someone who does! I can assure you that they aren’t going to turn down your offer to advertise their property for them for free! You might negotiate a small fee if in fact you do sell their property but your main objective is to build you buyers list!

Let me give you an example of one way to collect potential buyers by the dozen, hold an auction, advertise for a solid week in advance so you attract the most amount of buyers, begin with bandit signs, placing about 100 of them around a 5 square mile area of the property, we just did this and had 800 calls because it was a great deal of those 800 calls we had 300 people show up on auction day, of course the home sold but we also added new buyers to our buyers list.

Here are ways to advertise for those buyers:

o Bandit Signs
o CraigsList
o Backpage
o GoogleBase
o Postlets
o Zillow
o Pay Per Click Ads
o Local online Classifieds
o Media Website
o Flyers
o Newspaper/inserts
o REIA’s
o Direct mail/post cards
o Start an investors MeetUp group
o Email
o Phone
o Fax
o Your own website

Use your imagination, the list is limitless, there is a free e-book called the Internet Real Estate Yellow Pages that you can download for free at my site MagicBullets.com go grab that and you’ll find 100 more ideas and places to list your deals. Now go Be A Real Estate Heavyweight!

Dan Auito :~)

Everybody learns from somebody, and, when it comes to real estate investing, I definitely have spent considerable time and money studying flipping “at the master’s feet.” I’d like to share the top tips from the top real estate investing gurus I learned the most from over the years.

1. Ron LeGrand© – anybody who needs to copyright his name is probably worth listening to! LeGrand is definitely the big name in our business. Although people have been into real estate investing since way before Ron Legrand, I don’t think anybody’s taught it to the masses like Legrand has. Legrand made famous the MAO (Maximum Allowable Offer) formula everybody’s used for years. My greatest takeaway from Legrand was the MAO formula and the mechanics of the quick flipping business. The famous Ron Legrand quote “the less I do, the more I make” was also my first inspiration for systematizing our real estate investing business.
2. Robyn Thompson – once I learned the mechanics of flipping, I decided that flipping rehabs was where I wanted to focus. I invested in Robyn’s courses, and attended her rehab and marketing for real estate investing bootcamps. Robyn is one of the best real estate investing gurus out there for giving huge value at every level of presentation (from the free ones to high-dollar bootcamp). I learned a TON from Robyn about the rehab flipping process, but the number one takeaway I got from Robyn was how fast you could really flip rehabs if you just threw more resources at them.
3. Dave Lindahl – I met Dave through Robyn’s events, and attended his bootcamps and invested in his courses. Dave teaches flipping for “chunks” of cash, but nobody knows markets or apartments better than Dave. What has been most valuable to me from Dave was his ‘Managing for Maximum Profits’ home study course. An investor with no experience or training in managing property is like a lamb to the lions. I started on the right foot, and have managed properties for years successfully.
4. Louis Brown – Lou Brown is the undisputed king of real estate investing forms. I’ve used Lou’s forms for real estate investing since the beginning, and have always appreciated having an incredible library whenever I need a new document. Lou’s forms, therefore, are my #1 takeaway from Lou, and I still use many of them today for flipping.
5. Kris Kirschner – Kris’ Auto-Pilot Real Estate Systems(TM) for Buying and Selling real estate set the standard when we were growing our flipping business. Kris is a systems guy all the way, and his real estate systems are used across the country to really automate so much of our business. My greatest takeaway from Kris was his approach to “self-serve” showings. Putting a lockbox on the house, giving the code to people to view, then offering a self-serve kiosk in the kitchen with brochures and applications was pure genius, and I can’t imagine that we ever showed properties in the “olden days.” Flipping real estate is definitely best self-serve.
6. Dan Doran – Dan is the truly the master of the sales process for real estate investment, though that barely scratches the surface of what I’ve learned from him. Dan’s ‘Sales Mastery’ course has made a bigger impact on our real estate business than any other system we’ve implemented. If I have to pick just one greatest lesson learned it’s this… “If there’s equity, GO!” Dan was the first to coin this sales strategy, which was contrary to what EVERYBODY else was teaching about flipping (they all said you needed to be looking for motivation, and skip right past the unmotivated sellers). Dan is also a master of the inner game, business building, and the pre-foreclosure niche.
7. Richard Roop – Richard is Dan’s partner, and together they teach real estate marketing, systems, and have a fantastic coaching program, which I’ve been in for years now. Richard is a killer copywriter, and his slogan “Sell your house as-is, for a fair price, on the date of your choice” is probably the most copied real estate headline in our business. Pressed for the top lesson, I’d have to say it’s the importance of marketing in our flipping business. The first time I implemented one of Richard’s messages on a long-running campaign, I was literally overwhelmed with phone calls by people who had been receiving my messages previously, but never responded.

The real estate industry is in the worst shape that it’s ever been – at least in my lifetime. More than a million homes are in foreclosure and things look like they’ll get worse before they get better. 

An upside to this is that leads are plentiful; people need to sell while others want to buy. In this context real estate leads abound. 
 
Are you positioned to get some?  Do you have a system for capturing leads and converting them to warm, responsive prospects who eventually buy or sell?
 
If not there are a few simple things you can do to generate more leads, whether you’re a real estate agent, buyer, seller or investor. And if you really want to change your fortunes simply apply whatever strategies you develop consistently. 
 
For example, you probably don’t benefit as much as you think by making 50 cold calls on Monday and none the rest of the week. A better approach would be to do a minimum of 10 calls a day over five days, or up the ante and make 50 phone calls a day five days in a row. The question becomes “how many leads do you want and how hard do you want to work get them?”
 
I hate to admit it, but I’m a lazy marketer. What I mean is I believe in working smarter – not harder – and use the following tools and strategies to fuel my lead generation campaigns.
 
Signup forms.  I use sign up forms to capture the names of folk who visit my website. If they’re interested enough they’ll sign up for my free newsletter and I incentivize them to do so by offering free, useful real estate marketing tips, tools and resources.  The more I give the more subscribers I get.
 
Auto responder.  I use an auto responders to automate the process of signing prospects up for my newsletter. I use it to process their requests for information and to automatically deliver the newsletters via email. I even attach and deliver free gifts from time to time. An auto responder can quickly set you apart from other folk working the same leads you are.
 
Study and apply lead generation ideas. Finally, I’m almost fanatical about learning to earn.  I can’ tell you how many leads I generate by reading and applying both old and new lead generation strategies. While things like gathering leads via open houses and through ads and flyer distribution isn’t new many agents are still wrongly stuck on the idea that they have to have listings in order to do effectively these things and make it worth their while. 
 
Who else wants more leads? Well, me for one; I can always use more, no matter how many I have.  What about you?

In today’s competitive real estate marketplace, I still amazed at how few agents know how to communicate their real estate business story to a home buyer and seller. First impressions count, and you need to be prepared verbally and visually to tell your story and why the consumer should use you and not the competition. Soon after I started in the business I developed for lack of a better name, my brag book, that take on all listing appointments and first meetings with buyers.

My books’ contents are always evolving and are constantly updated with current information and examples. The first section has as many active, pending, and closed listings as I can fit in. I include property brochures, postcards and virtual tours on CD-ROMs. Include a variety of price points and locations.

The second section has examples of newspaper advertisements, magazine features, and screen prints from my and my brokers web site to illustrate what types of marketing I do for a specific property.

Third in my brag book are the actual cards, letters, and emails that have testimonials from clients, both buyers and sellers, about their satisfaction with my real estate business.

Lastly, any awards or non-profit work I do in the community, I like to point out that giving back to the community is an important part of my business. After a client goes through my book, they have an comprehensive idea of what benefits I bring to the table. Let your brag book help tell your story to prospective clients.