buyers

Listing Agent Alert: Do You Remember How to Work With Buyers?

Nov 11, 2019

It’s not as if listings were a dime-a-dozen over the past few years. You worked your rear end off to even generate seller leads, let alone actually list them.

Sellers had it so easy – fielding multiple offers and selling lightning-fast and for major bucks.

But the times they are a-changin’, and you may need to dip a toe or two into the buyer pool in the future.

It naturally depends on if increases in inventory outpace demand. And, there’s a whole bunch of stuff that could happen to impact that scenario.

Just in case the “experts” are correct in assuming we’re headed for a buyers’ market; do you remember how to work with them? Let’s take a crash, refresher course.

“Buyers are liars” – or are they?

Sure, it’s a common saying since real estate agent caveman (and women) days, but it’s still creepy.

First, don’t we all pretty much lie when we’re thinking of buying anything? Think about it: you may know exactly what you want when you walk into Macy’s.

Say what’s on a home buyers mind (Available in the postcard section under Fence Sitter Buyer Series)

Even when you can’t locate the item or even which department it’s located in, you’ll tell a salesperson that no, you don’t need help, because you’re “just looking.”

Americans, by and large, don’t like salespeople. We don’t trust them.

When will real estate agents get it that the vast majority of consumers consider you salespeople? Every year when that “most disrespected” professions list comes out real estate agents rank among the most despised.

Yeah, it sucks, because we know better – we love you. But they don’t know you, so don’t take it personally. Again, people don’t like being sold to (which is why used car salespeople rank on that list every year as well).

So, when a buyer tells you that he or she isn’t “ready” yet or is “just looking,” it’s not fair to think of him as a liar.

Your best defense here is to do everything in your power to banish the perception of real-estate- agents-as-sharks. Take off the sales and promotion hat for starters.

Buyers are time and labor-intensive

Listing agents have it made. Breeze in, get a signature on the contract, stick a sign in the front yard and let all the town’s buyers’ agents sell the home.

Help a renter become a home buyer (Available in the postcard section under the First Time Buyer Series)

Yeah, I know, that’s pretty simplistic and not entirely realistic, but you have to admit that a listing agent’s job (especially if he or she is good at it) is a whole lot easier than a buyers’ agent.

While other agents are working on selling your listing, you’re out taking more of them.

Compared to listing clients, buyers are time and labor-intensive. And first-time buyers will gobble more of your time than repeat buyers.

The key to saving some of your precious hours is by putting the proper systems in place:

Prepare a buyers’ consultation that nails it. Create handouts or website content that walks the buyer through the process, step-by-step and answers every possible question he or she could have.
Consider creating in-depth buyer guides – one for How to Buy a Fixer, How to Buy a Newly Constructed Home, How to Buy a Waterfront Home, How to Buy a Home on a Septic or well or whatever.
And, don’t forget Mortgage 101 guides on the various government-backed loan programs.
Get your preferred vendors lined up so you won’t waste time trying to round up a lender or home inspector or contractor for your buyers.
Stick all these valuable guides on your real estate website to make it even easier for buyers to access them. Education is power (and a time-saver for you).

These things not only provide a better client experience but save you time in the long run.

Buyers have totally unrealistic expectations

Don and Joan want to buy a condo in Boston’s Beacon Hill neighborhood. High on the wish list is panoramic views “We need lots of natural light, low fees and on-site amenities, such as a gym, pool, and a pet spa,” Joan said.

Don chimes in with some of his must-haves: “We also really want heated floors, a gourmet kitchen with granite countertops, a wine cooler, and a walk-in pantry,” he says.

“We would love a media room, a sauna, and a fireplace in the master bedroom. Our lender says we can pay up to $250,000,” adds Joan.

Yes, uneducated home buyers tend to be unrealistic. Sadly, when Don and Joan actually lay eyes on what that $250k will buy them (it won’t be in Beacon Hill, where the lowest-priced home right now is $1.5 million), they’ll be crushed.

Although “buyers are unrealistic” may be an accurate statement, whose fault is it? They don’t, after all, work in the real estate market every day so naturally, they don’t understand it.

It’s why the pros create a buyers’ consultation

Back to that, again, huh? A consultation should be the backbone of every real estate agent’s buyer’s system.

With the market potentially changing, as a listing agent, you’ll also be facing unrealistic expectations from your listing clients. They will no longer have the luxury of demanding top dollar for homes that need work.

2020 is going to be an interesting year in real estate.

Help them take the next step (Available in the postcard section under the Move-Up Market Series)

Send at least 100 Considering a Move postcard from the Move-Up Market Series to an area where you want more listings.

Need help targeting the perfect niche of buyers or sellers? Use our mailing list too l to create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!

PLUS: When you have time…here are Free killer tools to help your success this year!

1. Become a Listing Legend Free eBook

2. “Get More Listings” Free Online Webinar

Client Considering a Fixer? Help Them Decide

Client Education

Aug 7, 2018

Give Them the Facts

We are a nation of DIYers and fixer-uppers (or folks who think they are). We’re also a thrifty bunch, looking for any possible way to save a buck on purchases.

Put these two characteristics together and we end up with the real estate consumer seeking a bargain in the form of a fixer.

As an agent, you know which of your clients can take on all the work and money that a fixer might require.

“A fixer can be a perfect solution when your clients have long lists with a lot of requirements and if they’re willing to do the work,” David Bailey with Keller Williams, Beverly Hills tells HGTV.

So, yes, sometimes suggesting purchasing one is wise.

But it’s up to you to determine if it’s right for each client that hopes to buy one and then how to help that client make the decision.

Guess who likes fixers? Yeap the Millennials

The National Association of Realtors conducted a study a while back and discovered, in their efforts to avoid “cookie cutter” homes, Millennials were interested in fixers.

In fact, “about 30 percent of millennials surveyed say they prefer a ‘fixer-upper’ home rather than a home that needs only a few repairs,” according to RealtorMag.

Since Millennials make up the lion’s share of the first-time buyer pool, counseling and supplying facts will be your most important task when working with them.

To get your client thinking realistically, ask the following questions:

Does your client or his family or friends have carpentry, flooring, painting, plumbing, electrical skills? They can hire professionals, but doing some work will keep costs down.
Speaking of costs, does your client have rehab funds set aside or do they need to borrow the money?
Is your client willing to wait to move into the home (maybe six months)?

If your client becomes fixated on a home in need of work, yank her back to reality by helping her understand the scope of the work required.

Bring in a contractor to help them determine if it’s possible to bring the home up to standards and to get an estimate of the cost.

Not only does this offer a reality check, but it gives your client an idea of how much to offer for the home.

How to finance the purchase

Unlike in the past, homebuyers have some attractive options when it comes to financing a home that needs work.

“Future value” loans are the most popular. These loans aren’t based on current market value but on the future value (after rehab) of the home.

First-time buyers and those on a budget typically opt for a government-backed mortgage that wraps the cost of the rehab into the loan. These programs include the Fannie Mae HomeStyle Renovation and the FHA 203(k) programs.

If your client opts for one of these

These programs aren’t quick, easy or painless. If your client goes with the FHA 203(k) loan, he or she will need to come out of pocket to pay for a consultant.

The project must use the same contractor, from start to finish. If the client becomes dissatisfied with her choice, she’s stuck.

Then, the entire amount of money needed for the project is determined in advance and it’s a set amount. As one homeowner who used the FHA program notes “it is to the contractor’s benefit to do cheap work so they can pocket larger margins.”

Choosing a contractor will be one of your client’s biggest challenges.

Getting the loan

Rehab loans take far more time to complete than your typical residential purchase loan, so remind your client to get the loan process started as soon as possible.

You’ll have tasks to complete as well, such as helping your clients come up with a list of the work required and an estimate of cost. This will help you counsel them on how much to offer on the home.

You’ll need to structure the offer so that it’s subject to FHA 203(k) loan approval and the seller’s acceptance of any other HUD or lender-required improvements to the home.

Of course, FHA isn’t the only option for a client who falls in love with the idea of rehabbing a home to fit their lifestyle. Recommend that he or she meet with a lender and always consult their accountant.

Do you need to attract buyers interested in a fixer you have listed?

Send a Property Series postcard with an offer for the Free Report, “Top Ten Renovations that Reap Returns”.

Extend the offer to your Facebook audience and on your website, as well.

Need help targeting the perfect niche of buyers or sellers? Use our mailing list tool to create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!

PLUS: When you have time…here are 2 free ways we can help you CRUSH IT in 2018!

1. The 12 Month Done-For-You Strategic Marketing Plan.

The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, Niche Marketing, Listing Inventory, Geographic Farming, and Sphere of Influence – Click Here

2. The Free Online ROI Calculator.

Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your statistics in our Free online ROI Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! – Click Here

Also…check out these cool tools

Three Click Postcards – Just snap a home photo & create a postcard all from your mobile phone

MLSmailings.com – Automated Just Listed, Just Sold Postcards

Market Dominator System – Become a neighborhood brand

Want to Refer a friend or colleague? Refer them, Here. THEY get a Free $25 Gift Card and YOU become their hero (BTW, you also get a $25 Gift Card too, now that’s what I’m talking about)!

Become a Market-Maker & Win BIG

Agent Success

Jun 26, 2018

Dean Jackson takes your game up another notch by disclosing the steps to becoming a “Market-Maker”. Learn how to differentiate yourself, become the wise insider, and disrupt your market. Dean Jackson is the founder of GoGoAgent and Listing Agent Lifestyle.

Reverse your thinking

On a fundamental level, the real estate business consists of finding one person who wants to buy a home and finding one person who wants to sell a home and matching those people up.

Most agents begin focusing on finding a buyer after they get a new listing. In fact, often agents are only focused on getting listings because their belief is they need these listings to be able to find buyers.

But what if you reversed this thinking? What if instead of matching buyers and sellers, listing by listing, you become a Market-Maker who’s truly controlling your market?

Bring what the seller REALLY wants

How powerful would it be to show up at a competitive listing appointment with a buyer who already wants to buy the house or a list of people who are interested in a house like their home?

There is nothing more powerful than this position because you’ve got the very thing that the seller wants more than anything.

Even if you brought this buyer to an appointment where the seller was thinking of listing with their mother, if all they had to do was sign with you and their house was sold, mom would be out.

Yeap, they would sell their mother out in a second because self-interest always wins, and their self-interest is to find a buyer.

That’s an extreme example but I guarantee you if you line up the four best listing presentations in your marketplace to compete against and you arrive with a buyer who says, “How much would you like for the house?” and “I’ll take it,” nobody’s getting that listing but you.

When you see listing appointments from this perspective, it makes the most sense to focus on already having buyers whenever possible. It will always give you an advantage on the listings.

A case study

As an internal case study, I spent some time running my “Getting Listings Program” with the intent of find lakefront home sellers in Winter Haven (where I live). At the same time, I marketed home and land ads for buyers looking for lakefront homes.

It wasn’t too long before I received responses from interested parties.

One of those responses was a phone call from someone who’d seen my marketing about the “new lakefront homes that were coming onto the market”. He told me he sold his house in Stuart and was looking for a lakefront home in Winter Haven.

Then literally within an hour of getting that call, I received an email from a home seller on Lake Ruby. She stated, “I’ve been getting your marketing pieces for the last few months and we’re ready to sell our house.” This house actually was a perfect fit for my buyer from Stuart. It was such a perfect coincidence I couldn’t have scripted it better.

Become the insider

The results of my case study really solidified my understanding that the very best thing you can have in a competitive listing arena is a buyer or access to buyers. While everyone else is talking to sellers about, “Once I list your house we’re going to do this and this, and this to find a buyer”, you are going to set your self apart.

Your talk track will be, “I started looking for the buyer for your house 180 days ago by doing this, and this, and this, and right now I have a pool of these buyers who are looking for homes just like yours”.

To be able to match buyers and sellers up in this way, triangulating them, that’s where true “Market-Making” lies. Now, you’ve got insider information and access to people who are thinking about buying a home, and you’ve got insider information on people who are thinking about selling their home.

All that is left is to match these people up. And that’s where you’re adding value and differentiating yourself because no one else will be attacking a market in this innovative and far-reaching way.

To learn more about the other incredible tools and resources Dean has available for agents go to GoGoAgent.com and ListingAgentLifestyle.com.

Start collecting your pool of buyers now by sending the When Moving Makes Sense postcard from the Move-Up Market Series to at least 100 prospective buyers.

Need help targeting the perfect niche of buyers or sellers? Use our mailing list tool to create the ideal list or call our support team for assistance at 866.405.3638!

PLUS: When you have time…here are 3 free ways we can help you CRUSH IT in 2018!

1. The Free 2018 Real Estate Business Plan.

Treat your business like a business it is vital to long-term success in this industry. Some agents may put together elaborate business plans, yet there’s something powerful about keeping it simple. Check out our one page Online Real Estate Business Plan – Click Here

2. The Free Online ROI Calculator.

3. The 12 Month Done-For-You Strategic Marketing Plan.

Also…check out these cool tools 🙂

Three Click Postcards – Just snap a home photo & create a postcard all from your mobile phone

MLSmailings.com – Automated Just Listed, Just Sold Postcards

Market Dominator System – Become a neighborhood brand

Want to Refer a friend or colleague? Refer them Here. THEY get a Free $25 Gift Card and YOU become their hero!

How to Target the RIGHT Buyer

Targeting buyers

Jun 17, 2018

The right audience

Before you can sell anything to anyone, you must reach the right audience.

Your first step in creating a marketing plan for your new listing is to figure out and target the right buyer. The following are some avenues that will help you narrow down the buyer pool.

Go to the source

Talk to your listing client about their neighbors – are they primarily young families, older couples with kids still in the home, retirees, singles?

Location, as you know, is very important in determining a home’s value, but it can also help you pinpoint the likely buyer. Make note of it’s proximity to anything that is popular with homebuyers:

Quality schools
Shopping, dining and entertainment venues
Parks
Walking/biking paths
Beaches
Recreational opportunities, such as ski resorts, golf, equestrian center

The home holds clues

Everything from the price of the home to the square footage can serve as clues to help you narrow down your target market. For instance, smaller, single-story homes may be attractive to older clients while larger, roomier homes in the suburbs are hot with Gen X.

Also, consider any amenities the home offers. Homes with playrooms or a den are ideal for families. Backyards might lure pet owners, but backyards with space for entertaining are magnets for several different types of buyers (young professionals, families, etc.)

Then, use demographics to help you further define the buyer. Is this person single or married? Children? How old would you say the buyer is?

You can figure this out by using some of the various studies you’ll find on the internet.

Luxury home? A female between the ages of 50 and 60 may be your target. This group of Americans controls more than half of the country’s wealth. One study found more than 60 percent of luxury home clients were age 45 to 54.
A home with more than 2,000 square feet of living space, especially with close proximity to a decent school, your likely buyer will be a member of Gen X, with children.
Starter home: If it’s located in the suburbs you’ll be visited by both Millennials and baby boomers. If it features a walk-in closet in the master bedroom and a front porch, you’ll attract the former, while a dedicated laundry room, air conditioning, and a patio will attract the latter.

If you find your buyer will most likely be a Millennial, hire a professional photographer to snap the marketing photos. According to a Zillow study, nearly 60 percent of buyers in this generation say professional pictures are an important factor in their homebuying decision.

The bottom line

You may need to come up with profiles for two or more buying groups. If so, distill each one into one persona and keep those specific personas in mind when targeting your marketing.

Once you figure out who to target when marketing your listing, you’ll find that many of your other listing duties fall into place naturally. You can more confidently recommend which items need to be repaired, for instance, and how to stage the home to appeal to the likely buyer.

Now it’s time to determine your target market and create the perfect mailing list, Go Here.

Then send the Waiting, Waiting Waiting postcard from the Fence Sitter – Buyers Series to at least 100 buyers that you have targeted.

Need help targeting those buyers? Use our mailing list tool to create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!

PLUS: When you have time…here are 3 free ways we can help you CRUSH IT in 2018!

1. The Free 2018 Real Estate Business Plan.

2. The Free Online ROI Calculator.

3. The 12 Month Done-For-You Strategic Marketing Plan.

Also…check out these cool tools 🙂

Three Click Postcards – Just snap a home photo & create a postcard all from your mobile phone

MLSmailings.com – Automated Just Listed, Just Sold Postcards

Market Dominator System – Become a neighborhood brand

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