CLOSE
Monday, May 20, 2024

customer service

    Home sellers, so used to being in the real estate market’s driver’s seat, have no idea that they may soon be riding shotgun instead. The days of multiple offers for a home that sold overnight and for well over the asking price are dwindling.

    This doesn’t stop the runaway enthusiasm they’ll feel when Joe down the street lets them know about the crazy high price he got for his home. Neighbor Joe failed to remind these sellers, however, that his home sold months ago when prices and demand were still high.

    Now, this isn’t to say that the market is full of nothing but doom and gloom for home sellers. In fact, there’s an urgency in the air for homeowners who truly need to sell to get their homes listed before the market is full of doom and gloom.

    The good news for listing agents and their clients

    “Home prices will continue to rise, but at a slower pace,” according to Realtor.com’s 2023 Housing Forecast. With the recent barrage of negative media reports about the housing market, you at least have this silver lining to offer your listing clients.

    Here’s an example, and although it’s hyper-local to Minnesota’s Twin Cities, it’s an apt anecdote to pass on to your clients.

    Both the number of listings and the number of sales in the Twin Cities have declined. In fact, pending sales in November were the lowest in more than a decade, according to Jim Buchta at StarTribune.com. 

    Interestingly, home prices there continue to rise (the median sales price in November was 4.1% higher than this time last year), and homes are selling quickly.

    To add even more silver to the lining that nobody seems to be noticing is that Freddie Mac tells us that “… the average 30-year fixed-rate mortgage declined again to 6.31%,” Buchta says.

    The Real Estate Times Campaign is shown above. To see more, Click Here.

    More misconceptions

    A recent Zillow survey of real estate agents finds that home sellers are still operating under the assumption that they will receive more than their list price, entertain multiple offers and enjoy a quick sale. 

    They also don’t anticipate the possibility of having to eventually cut their list price to get the home sold.

    Although Zillow’s “… research finds a rapid drop in home values is unlikely,” the analysts there also predict that prices will pretty much flatten throughout 2023. By the end of next summer, prices will have increased by only 1.3%. 

    Additional rises in interest rates should also serve as a caution to any of your listing clients who are sitting on the fence. Urge them to put their home on the market now.

    Keeping your clients and potential clients up-to-date on market conditions is critical in a changing market. Providing the information against a backdrop of what it means to them personally is immensely valuable.

    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 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

      On a popular website devoted to helping small businesses, an agent and “Real Estate Sales and Marketing Analyst” offers up an article that includes several examples of expired listing letters “that work.”

      Letter number two is my least favorite. It begins, “Dear Homeowner.”

      If I received that letter, I would think that if the agent couldn’t even take the time to personalize his marketing letter, how much better will he do when marketing my home?

      But the best one of the bunch is when the agent explains that he offers “clients a different, unique approach to getting their home sold despite the market conditions.”

      And, what does he offer clients that’s so “unique” and so “different?” Here it is, in a nutshell:

      • “The effective use of the internet to maximize exposure for your home”
      • a CMA
      • an MLS listing
      • a virtual tour
      • and a bunch of other stuff that every single listing agent on the planet offers.

      Then, there’s the advice on a Trulia thread from an agent who suggests agents should always visit the expired listing homeowner in person. 

      The Just Sold Follow-Up Campaign is shown above. To see more, Click HERE.

      He describes the conversation you should have right up to what he calls his “big closing question,” the “money maker.”

      He tells the homeowner that he never had a chance to visit the home while it was listed. “ … would it be okay if I had a quick peek at it right now?”

      As a homeowner, my question when he asked to look at my home would be: If you’re the neighborhood expert and a mega-agent, why didn’t you look at the home during the 90 days it was listed? 

      Should you visit the homeowner? Sure, if you want to truly cement the idea that real estate agents are a bit aggressive. 

      Thankfully, you’re different

      The one indisputable fact about expired listings, you will have a ton of competition when pursuing them. But, your competition will often approach the homeowner using ineffective advice offered by real estate gurus.

      This should make it much easier to create a positive impression for the agent who can manage to come off as human, as empathic, and professional.

      Those three qualities alone will set you apart from the agents you’ll be in competition against. So, personalize all communications with the homeowner, don’t be salesy, and come up with your unique value proposition – that “stuff” you offer or do that makes you better than most.

      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 6-Month Done-For-You Strategic Marketing Plan

      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 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 these boxes but is also a business-building machine. In two easy steps, you can 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, closings, 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

        Anyone who has been a listing agent for more than a minute understands that the number one priority for your clients (as well as yourself) is to get their homes sold for the most money possible in the least amount of time.

        But what do they expect their agent to do to accomplish this? Many first-time sellers may have no idea, while repeat homeowners most likely have a range of experiences on which to base their expectations this time around.

        For the answers, we turn to the National Association of Realtors, which asks homeowners what they want from their listing agents each year.

        The number one home seller expectation for the last decade is to help the seller meet their timeframe for selling.

        The second and third top “wants” are to help achieve a competitive price for the home and help market the home.

        Seller timeframes

        Listing agents understand that the time it takes to sell a home varies according to certain factors and that the home’s price is chief among them.

        Other factors include:

        • The type of market. For instance, currently, the typical home spent 51 days on market. According to Realtor.com, this is 6 days more than last year at this time.
        • Condition. with inventory remaining low, the current buyer pool still shows interest in even substandard homes. In a balanced market, however, there may be a different story.
        • Location. Another factor that buyers are still ready to compromise on right now is location. It won’t always be this way, as you well know.

        Once you understand your client’s timeline, communication is key. Be honest about how realistic the timeline is, according to the market, the home’s condition, and the location.

        The Get More Listings Campaign is shown above. To see more, Click Here.

        Pricing your client’s home

        The one nugget of information that all homeowners wait for during a listing presentation is your suggested list price.

        Many don’t know how you arrived at this figure, and some don’t care. Agents we’ve spoken with suggest that listing agents ask their clients what they’re hoping to get for the home before compiling the CMA.

        This way, you’ll have time to lay out a plan to explain why your clients’ estimation is so far off the mark (if that is the case) rather than be blindsided by finding out during the presentation.

        Marketing

        That marketing is in third place regarding seller expectations should be no surprise. In the present market, not as many homes require an in-depth marketing campaign.

        If your clients’ home only requires a basic marketing campaign, let them know that and the reason why. Even if you think it’s common sense that everyone knows, communicate what you’re thinking and planning.

        Communication, in fact, is key in meeting all three of these home seller expectations. That, and following through on your promises, is one of the best ways to build referrals.

        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

          “America’s housing dream is broken,” claims a CNN.com headline. The New York Times wants us to know that “The Housing Market Is Worse Than You Think.” Finally, CNBC.com resorts to the scary stuff with an article about “… how much equity U.S. homeowners have lost since May.” 

          Is it any wonder that homebuyers, already fatigued by competing with multiple buyers, watching home prices skyrocket (seemingly overnight) and, now, escalating mortgage rates, are beyond frustrated?

          Is it impossible, as many think, to buy a home? While it may be challenging, you and I both know it’s not impossible. At least not for many Americans. They just need a lot of educating, counseling, and, maybe, a whole lot of hand-holding.

          Are they aware of the ins and outs of mortgages?
          Direct Response Reports. See more Here.

          Naturally, you’re hesitant to get too deep into the mortgage weeds when advising clients. After all, you’re most likely not a financial expert and, therefore, shouldn’t be counseling clients about financial subjects. 

          You can, however, suggest that they get to know and understand the following concepts and strategies and talk them over with a lender:

          • Discount points – Discount points, also known as points, lower a borrower’s “… interest rate in exchange for paying an upfront fee,” according to the experts at the Consumer Finance Protection Bureau. Pass the link on to your clients for an excellent description of buying points and the pros and cons of doing so.
          • Adjustable-rate mortgage – The loan of choice for the past few months, adjustable-rate loan applications have “… more than quadrupled since the start of the year,” according to Melissa Dittmann Tracey at nar.realtor. This may be the ideal solution for a buyer who plans on staying in the home for a reasonable length of time. Get the house with an ARM and then refinance into a fixed mortgage when rates drop. This strategy is not without risks, however.
          • Help them strategize coming up with a heftier down payment  – Yes, this is a tough one for an agent to suggest. It may mean putting a hot buyer on hold for a time. April, however, is right around the corner, and if your client is expecting an income tax return, depending on the amount, it could go a long way toward helping to lessen the impact of a higher-than-expected mortgage rate. 
          Keep an eye on the news

          If ever there was a time for Congress to act quickly, it would be now. Several bills remain in the works from last year that can greatly ease the pressure on hard-hit, moderate-income homebuyers. 

          Direct Response Report, See more Here.

          Keep an eye on Congress because if any of these passes, it could be a boon for your clients.

          • The First-Time Homebuyer Act of 2021. Introduced in late April 2021, this act revises the IRS code to provide first-time buyers up to $15,000 in tax credits. At the time of this writing, the act sits with the House Ways and Means Committee.
          • Downpayment Toward Equity Act of 2021. This program will be administered by HUD to “… states and other entities to provide qualifying assistance to certain first-time, first-generation home buyers in purchasing their first homes,” according to the bill’s text.
          • LIFT Homebuyers Act of 2021.  Introduced in September 2021, The LIFT Act will provide 20-year fixed-rate mortgages for “… first-time, first-generation homebuyers whose incomes do not exceed a certain amount,” according to the bill’s text. These loans will be offered by Rural Housing Services or the Federal Housing Administration (FHA).

          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

          Prev1...234...9Next Page 3 of 9
          © 2024 ProspectsPLUS! | Real Estate Marketing Blog