Here are a few important questions you, as a seller’s agent, may get from clients. It would be wise to have answers prepared for the all important listing appointment. Some of these would also apply to agents working with buyers.
Real estate professionals are used to being asked questions by buyers and sellers, but not all questions are created equal. In this column, we take a look at five of the most important questions to ask before you decide to work with a particular agent. Read More.
According to real estate speaker and coach Todd Robertson, real estate professionals can boost their yearly incomes by $10,000 to $50,000 by eliminating bad habits.
Here are three bad habits agents should kick:
- Waiting for business to come to you.
- Sending too much time designing overly elaborate marketing pieces.
- Getting lost in the busy-work of administrative tasks. Read More.
Some real estate professionals consider home warranties a security blanket for everyone involved in a real estate transaction—the buyer, seller, and agent. Warranties offer a measure of financial protection if certain home appliances need to be repaired or replaced. They can help buyers feel more confident about their purchase and may reduce sellers’ liability if something goes wrong after the keys have been handed over. Real estate agents often find they play an intermediary role in answering questions about warranties and can even assist in filing claims. Read More.
Getting started in real estate is one of the easiest things to do, which makes the shock all that more profound when you realize how daunting it is to build a sustainable business.
My story is not unlike that of many other agents I have talked to. I already had a few successful careers under my belt, started and sold companies, and was looking for my next endeavor. The market in the early 2000s was really heating up and all I could see was opportunity. It didn’t seem like it would be all that difficult. Just read some books, interview the best brokerages in the area, and seek out the most successful agents. Then, get a sponsor and commit two weekends of my life to taking the mandatory real estate licensing course and following exam. All good so far, and I felt like the smartest guy in the room! Read More.
A new study suggests real-estate agents do something that might go against their grain: think small.
Agents who concentrate on a small, specialized area sell homes for 1.21% more than agents who list homes in a large area, says Bennie Waller, professor of finance and real estate at Longwood University in Farmville, Va. Homeowners with pricier homes stand to gain even more. Properties above the median sale price sold for 1.71% more when listed by an agent with a small territory, according to a study last year on listing area and real-estate sales.
The take-away for agents? “Sell in expensive areas and localize,” Prof. Waller says. “If you’re going into a neighborhood where you have six or seven properties listed, you’ll be able to do it faster, more efficiently and at a cheaper cost. Your transaction costs go down.” Read More.
Savvy real-estate agents know it’s not just what you say. It’s how long it takes you to say it.
More-expensive homes go hand-in-hand with longer real-estate agents’ remarks—the language written by the agent that supplements the house description and photos in a listing. Agents use a median 250 characters for homes listed under $100,000, according to an analysis for The Wall Street Journal by real-estate listings company Zillow. For homes priced over $1 million, they go nearly twice as long, with a median 487 characters. (That’s about the length of this paragraph.) Read More.
Social media isn’t going anywhere. Oh wait, yes it is… it’s going everywhere! Social media is one of the fastest and most cost effective ways to share your brand with a large audience.
Data suggests that a rising number of real estate agents are leveraging the power of social media to connect with their clients and expand their professional networks.
In fact, the California Association of REALTORS® found that agents cited the following reasons for using social media in an effort to grow their real estate businesses:
- 67 percent staying in touch with clients
- 54 percent be more accessible to my clients
- 50 percent respond to clients faster
- 44 percent market my business to a younger demographic Read More.
Relisting a home isn’t an enviable position for any seller. Something went wrong the first time, and for many sellers, trying again to sell the home raises more questions than answers.
While it’s common for real estate agents to handle relistings, data on just how common the situation is can be hard to come by because some agents pull listings for a week or two and then relist. It’s a tactic designed to make a home listing look fresh. But increasingly, a true relisting is defined as having a 90-day gap between the time the property goes off the market and when it comes back. In that scenario, many real estate agents say it isn’t always price that kept the property from moving. Read More.
For many brokers and agents, worry is mounting that popular real estate listing portals will do to the real estate business what Expedia did to travel agents—that is, make their business model and role obsolete. The fear that keeps some brokers up at night is that eventually, these portals, which have been highly successful at attracting consumers, will begin selling properties directly to these consumers, thereby cutting out the perceived “middle man”: the real estate broker. Read More.