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Saturday, May 11, 2024

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    Real estate agents often face scrutiny over their commission fees, with some questioning whether their expertise justifies the costs.

    However, the reality is that the value provided by a skilled real estate agent far surpasses their monetary compensation.

    Here are ten ways a real estate agent’s expertise is worth EVERY PENNY:

    1. Market Knowledge: Real estate agents possess in-depth knowledge of local markets, including trends, pricing dynamics, and neighborhood nuances.

    This expertise allows them to accurately assess the value of a property and advise clients on pricing strategies to maximize their return on investment.

    Homes sold without a real estate agent (FSBO) went for about $100,000 less on average and cost the seller more in repair fees (based on The 2023 Profile of Home Buyers and Sellers).

    2. Negotiation Skills: Negotiating the terms of a real estate transaction requires finesse, tact, and experience.

    Real estate agents are skilled negotiators who advocate for their client’s best interests and work to secure the most favorable terms and conditions based on years of expertise.

    3. Marketing Expertise: Successfully marketing a property requires a strategic approach, including professional photography, staging, virtual tours, and targeted advertising.

    Real estate agents have the expertise to create compelling marketing campaigns that attract qualified buyers and generate maximum exposure for their listings.

    4. Legal Guidance: The real estate transaction process involves a myriad of legal documents, contracts, and disclosures that must be handled with precision and compliance.

    Real estate agents provide invaluable guidance and assistance to ensure that transactions are conducted legally and ethically.

    5. Network Connections: Real estate agents have extensive networks of industry connections, including lenders, inspectors, contractors, and other professionals.

    These connections allow them to provide clients with access to a wide range of resources and services throughout the buying or selling process.

    6. Emotional Support: Buying or selling a home can be an emotional experience for clients, filled with uncertainty, stress, and anxiety.

    Real estate agents provide emotional support and reassurance, guiding clients through the process with empathy and understanding.

    7. Time Savings: Selling a home involves numerous tasks and responsibilities, from marketing and showings to negotiations and paperwork.

    Real estate agents save clients time and effort by managing these tasks efficiently and effectively on their behalf.

    8. Risk Mitigation: Real estate transactions involve inherent risks, including legal liabilities, financial losses, and unforeseen complications.

    Real estate agents help mitigate these risks by providing expert guidance, proactive problem-solving, and diligent oversight throughout the process.

    9. Market Insights: Real estate agents stay up-to-date on market trends, economic indicators, and regulatory changes that may impact the buying or selling process.

    This knowledge allows them to provide clients with valuable insights and advice to make informed decisions.

    10. Long-Term Relationships: Real estate agents are invested in building long-term relationships with their clients based on trust, integrity, and professionalism.

    They strive to exceed client expectations and earn their loyalty, ensuring that clients return for future real estate needs and refer their friends and family.

    The expertise and value provided by real estate agents far outweigh their earnings.

    From market knowledge, negotiation skills, and marketing expertise real estate agents play a vital role in guiding clients through the complexities of buying or selling a home.

    Their commitment to their clients’ largest financial investment as well as their personal well-being delivers unparalleled value and peace of mind.

    When you have time…below are some marketing tools to help support your success.

    1. Put Your Real Estate Business a Step Above with Your Own Branded Magazin

    Homes & Life Magazine is a customizable magazine with rich, full-color content and a sharp, professional aesthetic. It includes compelling, direct, response-driven articles written by real estate industry experts and engaging lifestyle content. Send out Homes & Life Magazine in Just Minutes – No Minimums Required. Or we’ll ship it to you. Homes & Life Magazine is the ultimate “Coffee Table Lingerer”! …and it costs less than sending a greeting card! – Click Here

    2. The Free 6-Month Done-For-You Strategic Marketing Planner

    The Real Estate Marketing Planner is a powerful 6-Month Guide that strategically defines what marketing to do and when. Four key market segments include niche Markets, geographic farming, sphere of influence, and past clients. – Click Here

    3. The Free Online Real Estate Business Plan

    The Real Estate Business Plan allows you to enter your business goals for the year and get a breakdown of how many prospects, listings, closings, and so on are needed to reach your financial goals.   – Click Here

    4. The Become a Listing Legend Free eBook 

    This image has an empty alt attribute; its file name is Become-A-Listing-Legend-3D-Book-White-274x300.jpg

    Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here

      As a new buyers agent, you may still be learning the ropes. Now is the time to cultivate good habits and avoid making the mistakes that many other agents make.

      One of the most prevalent among the latter is assuming that your clients know what they need to know during the home buying process.

      In reality, most first-time buyers know little, if anything, about buying a home and are counting on their agents to guide them through the process.

      Do them a solid and share with them the following 3 warnings.

      1. Getting preapproved for a mortgage is non-negotiable

      “For 41% of recent buyers, the first step that they took in the home buying process was to look online at properties for sale,” according to the NAR’s Profile of Homebuyers and Sellers.

      Yes, the prospect of buying a home is exciting, and without knowledge of the process, some folks jump right over the baby steps of shopping for a lender, loan preapproval, and interviewing buyers’ agents. They hop in the car and start looking at homes for sale without even knowing how much home they can afford.

      It’s a recipe for disappointment

      Knowing how much they can spend is paramount, both in avoiding wasting your time and theirs. 

      Then, there’s the fact that sellers and their agents want to see a preapproval letter. 

      Experienced agents know well the couple that fell in love with a house they found open on a Sunday afternoon only to learn later that it was way out of their price range. Nothing you show them after that will stack up.

      2. Help them understand the home loan process

      Check this out: “41% of Americans who’ve never owned a home believe 20% down payments are required,” according to Maggie Davis at lendingtree.com.

      These people are first-time homebuyers who are absolutely clueless about down payments. Yes, 20% down is best for the borrower, but a smaller down payment certainly doesn’t prohibit them from buying a home.

      The First Time Buyer Series is shown above. To see more designs, Click HERE.

      So, although it’s a given that agents should counsel their buyers that they need to see a lender before looking at homes, they also need to warn their clients about the out-of-pocket costs involved in the purchase of one. Then, give them the good news about low-down loans and down payment assistance programs.

      3. About that final credit pull

      Because they aren’t fully tutored on the mortgage process, many newbie homebuyers rightfully assume that once they’re approved for a mortgage, they will remain approved. 

      They can relax.

      Many are so eager to get started shopping for furniture, new appliances, and other items for their new home they run up hefty credit card tabs. Additional credit changes their ratios, and they may find themselves without a home to fill with all those purchases.

      Remind your clients that it’s not a done deal until it closes. Changing jobs, making large purchases on credit, and allowing credit inquiries after loan approval have all proven detrimental to many buyers. The lender’s soft pull just before closing should be explained fully to your buyers.

      Yes, we all wish that mortgage professionals would pass these warnings on to your clients, but they typically don’t. 

      Just consider these warnings as part of what we know will be the amazing customer service you will provide all of your buying clients.

      PLUS: When you have time…below are some marketing tools to help support your success.

      1. Put Your Real Estate Business a Step Above with Your Own Branded Magazine

      Homes & Life Magazine is a customizable magazine with rich, full-color content and a sharp, professional aesthetic. It includes compelling, direct response-driven articles written by real estate industry experts combined with engaging lifestyle content. Send out Homes & Life Magazine in Just Minutes – No Minimums Required. Or we’ll ship it to you.

      Homes & Life Magazine is the ultimate “Coffee Table Lingerer”! …and it costs less than sending a greeting card! – Click Here


      2. The Free 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 and when. Four key market segments include niche Markets, geographic farming, sphere of influence, and past clients. – Click Here

      3. The BusinessBase, SOI building system

      The most effective thing you can do to build a real estate business is to become more visible, more likable, and remembered more often. The BusinessBASE™ not only checks all of these boxes but is also a business-building machine. In two easy steps, you can begin to build a robust sphere of influence that will provide you a lifetime of repeat business and referrals. – Click Here

      4. The Free Interactive Real Estate Business Plan

      The Free Interactive Real Estate Business Plan allows you to enter your business goals for this year and get a breakdown of how many prospects, listings, closing, and so on are needed to reach your goals.  – Click Here

      5. The Become a Listing Legend Free eBook 

      This image has an empty alt attribute; its file name is Become-A-Listing-Legend-3D-Book-White-274x300.jpg

      Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here

      6. The Take a Listing Today Podcast

      Watch the ProspectsPLUS!, Take a Listing Today Podcast for actionable content to help you get more listings. – Click Here

        According to economists surveyed by the Wall Street Journal, they think there’s a 28% chance of a recession within the next year. This figure, by the way, is up from last year’s prediction of a 13% chance of a recession.

        If you don’t think that your clients and potential clients are worried about a coming recession, did you know:

        In a recent CNBC poll, “81% [of U.S. adults] say they are concerned the U.S. will face a recession in 2022.”

        So, what will you say to your clients and potential clients when they express hesitancy to jump into the real estate market because they’ve read there’s a recession coming?

        Here are some pointers to keep their confidence high.

        Real Estate Times Series is shown above. See more, Click Here.

        Can’t fault the housing market this time

        Economists state that it won’t be a faltering housing market that causes the possible 2022 or 2023 recession. Instead, if it happens, they expect it to be triggered by the Fed’s efforts to curb it.

        Those efforts to get prices under control come with a risk: “… the central bank will do too much, sinking the economy in the process,” according to Matt Egan at CNN.com.

        Economists point to the differences between the market in 2008 and today. Think back to the Great Recession. That housing bubble, economists agree, was caused by the easy access to mortgages. 

        Today’s market is influenced by supply and demand and, “… this time around, household finances are stronger and home values remain at historic highs,” claims Alcynna Lloyd at BusinessInsider.com.

        So, how does this knowledge calm your clients’ nerves?

        According to experts, there will be no housing bubble to explode in their faces. Therefore, remind them that anyone with a heartbeat could get a mortgage prior to the Great Recession. Today, lending rules are much more stringent, leading to far more qualified buyers looking for homes.

        Finally, not all recessions are like the recession of 2008 and a recession doesn’t automatically equal a housing crisis.

        Homeowners have nothing to worry about

        If a recession comes to pass, homeowners should ride it out quite well.

        They’re also sitting on a ton of equity right now – equity that isn’t likely to dissipate during the forecasted recession. 

        Huh?

        During the five recessions prior to the 2008 recession, home prices actually increased. 

        Overall, the jobs market is so strong right now that a recession is unlikely to impact home prices and, thus, values.

        If we listen to the experts, your clients have nothing to worry about when it comes to the real estate market. Don’t let them buy into the media hype and you’ll keep them in the market.

        PLUS: When you have time…below are some marketing tools to help support your success.

        1. Put Your Real Estate Business a Step Above with Your Own Branded Magazine

        Homes & Life Magazine is a customizable magazine, with rich, full-color content, and a sharp, professional esthetic. It includes compelling, direct response-driven articles written by real estate industry experts, combined with engaging lifestyle content. Send out Homes & Life Magazine in Just Minutes – No Minimums Required. Or we’ll ship it to you.

        Homes & Life Magazine is the ultimate “Coffee Table Lingerer”! …and, it costs less than sending a greeting card! – Click Here


        2. The Free 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 Markets, geographic farming, sphere of influence, and past clients. – Click Here

        3. The BusinessBase, SOI building system

        The most effective thing you can do to build a real estate business is to become more visible, more likable, and remembered more often. The BusinessBASE™ not only checks all of these boxes, but it is a business building machine. In two easy steps, you can begin to build a robust sphere of influence that will provide you a lifetime of repeat business and referrals. – Click Here

        4. The Free Interactive Real Estate Business Plan

        The Free Interactive Real Estate Business Plan allows you to enter your business goals for this year and get a breakdown of how many prospects, listings, closing, and so on are needed to reach your goals.  – Click Here

        5. The Become a Listing Legend Free eBook 

        This image has an empty alt attribute; its file name is Become-A-Listing-Legend-3D-Book-White-274x300.jpg

        Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here

        6. The Take a Listing Today Podcast

        Watch the ProspectsPLUS!, Take a Listing Today Podcast for actionable content to help you get more listings. – Click Here

          Gen X – those born between 1965 and 1976 – was the hardest-hit cohort during the 2007 Recession, with a nearly 60% drop in median household net worth. Blaire Briody, at BusinessInsider.com says that this is “the largest drop of all age groups.”

          Amazingly, this is also the generation who has seen the greatest comeback since then.

          Between 2010 and 2018, “… the median net worth of Gen X households has risen 115 percent,” according to Andrew Soergel at USNews.com, citing a researcher at Pew.

          Today, we have a new crisis (the pandemic) and it’s impacting members of two generations: Millennials (age 25 to 43 this year) and Gen Z (age 24 and younger).

          To deal with closed college campuses and the financial impact, many of these younger folks have gone home, to Mom and Dad.

          Many of their parents want to help. If you have clients who are parents of Millenials and Gen Z the following are ideas you can share with them to get their kids to finally and forever leave the nest to feather a nest of their own.

          Rent By Number Series with custom sub-heading
          How to structure the deal

          Many parents fear creating a financially-dependent, adult wanna-be by helping their Millennial or Gen Z child purchase a home.

          If their son or daughter is generally mature and responsible and just needs a bit of temporary help, parents most likely have nothing to worry about.

          A lot also depends on how they structure their assistance, and this is where you come in, offering solutions.

          The different forms of “help”

          Helping an adult child realize the dream of homeownership comes in many forms. Naturally, if your clients have the means, they may just want to purchase a condo or starter home outright and gift it to their child.

          But there are alternatives, including:

          • Loaning the money, at a lower rate than lenders charge, which will help make the mortgage payments more affordable.
          • Buy a home using a share-equity agreement.
          • Gift the child the down payment and closing costs for a condo that he or she purchases.
          The “Bank of Mom and Dad”

          The best advice you can give your clients is to meet with their financial advisor, accountant and/or attorney to obtain advice about loaning the adult child the money for the home – either the down payment or the purchase price.

          This way, they’ll understand all of the ramifications and have legal documents drawn up to protect themselves.

          Whether they will charge interest on the loan is up to them, but, again, urge them to get the advice and assistance of professionals.

          Rent By Number Series with custom sub-heading
          The co-ownership option

          Co-ownership of a condo or starter home offers parents the opportunity to share in the equity that is built up over the period of ownership.

          This option isn’t without its pitfalls, however. For instance, when the home is eventually sold, it may subject you to a capital gains tax.

          “However, if parents are going into the purchase simply to help the kids qualify for the mortgage and intend their contribution to be a gift, they can structure ownership so that their interest is nominal, and work with a lawyer to place that interest in a trust for the benefit of the kids,” according to Derrick Penner of the Globe and Mail.

          The operative words there are “work with a lawyer.” We cannot stress enough the importance of ensuring your clients get professional financial and legal advice.

          Mom and dad own it and lease it to the kid

          If your clients have been contemplating buying an investment property, this may just be the ideal way to get their child into homeownership. Your clients will retain the tax benefits of owning the condo and the rental agreement can be structured so that they gift a percentage of ownership annually until the child owns the condo outright.

          There are a number of ways to help an adult child move into homeownership. Go through your CRM and make some phone calls to parents of young adults. You may just have found a goldmine.

          Rent By Number Series with custom sub-heading
          Send a postcard from the Rent By Number Series to a prospecting list of empty nesters and get them excited about another solution for their boomerang kids.

          Need help targeting a specific niche of buyers or sellers? Use our Demographic Search 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 some helpful resources we’ve made available to support your success.

          1. Become a Neighborhood Brand

          Become branded in a specific neighborhood with a 12X15 marketing piece sent automatically each month to an exclusive carrier route. Watch this video to learn more or Click Here.

          2. The Free Real Estate Mailing List Guide

          This image has an empty alt attribute; its file name is Real-Estate-Mailing-List-Guide2-3-D-999x1024.jpg

          The Real Estate Mailing List Guide outlines the top tools for generating targeted prospecting lists including Baby Boomers, Empty Nesters, Investors, Lifestyle Interests, High-Income Renters, Move-Up Markets, and more. The Guide also defines done-for-you marketing campaigns to match these markets. –Click Here

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

          This image has an empty alt attribute; its file name is 2020-Planner-3D-999x1024.jpg

          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, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here

          4. The Free One-Page Real Estate Business Plan

          This image has an empty alt attribute; its file name is Business-Plan-3D-Book-New1-270x300.png

          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

          5. Become a Listing Legend Free eBook 

          This image has an empty alt attribute; its file name is Become-A-Listing-Legend-3D-Book-White-274x300.jpg

          Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here

          6. The Free Online ROI Calculator

          This image has an empty alt attribute; its file name is ROI-calculator-b-233x300.jpg

          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

          7. The Free Real Estate Marketing Guide “CRUSH IT” 

          This image has an empty alt attribute; its file name is CRUSH-IT-Guide-3-d-298x300.jpg

          The “Crush It” Guide includes easy steps to launching an effective direct mail marketing campaign, how to create a targeted prospect list, the perfect way to layout marketing materials for success, seven opportunities available to target in your area right now. –Click Here

          © 2024 ProspectsPLUS! | Real Estate Marketing Blog