You’re sitting across from a prospect, just about to pop the question. You take a deep breath as he looks over the paperwork. Silently, you curl your toes under the desk as you do everything in your power to appear calm and collected; the client must not know how much this listing means to your family. As if in slow motion, just before the words, “Are you ready to sign,” can form themselves in a nonchalant manner and burst from your lips, it happens. Mr. Quibble stabs at the contract, placing the tip of his fountain pen on your listed rate of commission. “Now, let me ask you this,” he blusters authoritatively. “Are you willing to come down from your rate of commission to make this deal?” Pause the tape.
This one question is the deal-breaker. Answer it correctly, and you win; not only at this particular contract table, but also at the entire real estate game. Answer it wrong, and you can kiss your dreams of success as a real estate agent goodbye. So, let’s cut to the chase. What is the correct answer? It is, and almost ALWAYS shall be, “No, that’s a flat rate. Do you have any other questions?” Trouble is, in this case, you are dealing with Mr. Al Dicker N. Quibble, the cheapest, most argumentative haggler ever to darken the doors of a business establishment. It’s not just you; Mr. Quibble likes to find a deal where ever he goes. Wal-mart clerks groan when they see him approaching, anxious to prove why he deserves a discount on fountain pens. Car salesmen dissolve into tears over their vanished commission checks after he leaves the car lot grinning triumphantly. Now he’s staring you down, sizing you up, and searching for the tiniest crack in your resolve.
Can you stick to your guns? You can. You must; not only for your own sake, but also for Mr. Quibble. If he asks, “Why?” Here are six good reasons. 7 “Because I am a professional, not a street market vendor.” Do professionals allow clients to haggle over the costs of their services? Don’t try it with your attorney or physician. As a professional real estate agent, you should be working to build expertise and quality service. If you are, then you shouldn’t allow your business to be treated like a used car lot. Commission negotiation should be a nonissue. “Because if I do, selling your home will become less of a priority.” It’s just human nature: if you have two listings, one of them discounted and one at full commission, when your mortgage and car payments come due, it’s only natural you’ll show the home that’s listed at full commission. “Because success for both of us hinges on my staying upbeat.” In the real estate game, enthusiasm and confidence are indispensable.
There’s nothing as discouraging as losing big on an important deal, especially when it has the potential to set a precedent. If you ever open the door to cutting commission, it will be twice as hard to stand firm the next time you go up against a tough customer. Consider it practice for negotiating the best deal for Mr. Quibble from the buyer. If you can’t even negotiate your own rate, how can the client expect you to swing him a deal at the negotiating table? “Because I don’t have time to evaluate my rates on a case-by-case basis.” Once you begin allowing certain clients lower commission rates, each prospective client becomes a potential recipient of your “generosity” should you be so persuaded. Even if you only lower your rates for friends and “hard luck” cases, the bottom line is that now you must decide which clients deserve a lower rate. What happens when your annoying cousin thinks you’ll lower her cost like you did for her brother, but instead you choose to charge full commission?
The added stress over strained relationships due to your perceived partiality is not worth it. “Because you need me to set the pace.” When you give in to a client’s request to come off your set commission, you are putting him in the driver’s seat. Now, he’s much less likely to yield to your caution about overpricing his house. That translates into longer time sitting on the market. “Because I’m not THAT desperate.” If you regularly work at lead generation, you won’t be at the mercy of “Mr. Quibble” types. So what if Mr. Quibble doesn’t sign? Do you really think a cut-rate commission could be worth trying to placate his every whim? Spend your time generating quality leads. Don’t stress over your commission. Use your energy developing your expertise, and let the Quibbles and chips fall where they may.
A real estate agent needs to maintain a strong communications network in order to be truly successful. As a result, it is important to build a relationship and regularly keep in touch with past and current clients, as well as plan to create ties with clients in the future. This personal bond with each client will make them more likely to remember you and your excellent services, rely on you in the future, and recommend you to their family and friends. The key to keeping in touch with clients is to determine if they want a relationship and then to contact them in a way that they prefer that still manages to be memorable.
1. Provide Memorable Gifts to Past Clients These gifts can be very small and unobtrusive, but also useful. They ought to have your contact information on them and be designed to be used in a prominent place. This way, if a client needs you, they will have your number close at hand to call. Some examples of unusual gifts that still manage to be completely useful are magnets that label the dishwasher as dirty and clean, thereby stopping anyone from putting away dirty dishes or rewashing clean ones. Sending small gifts of food that have a clever slogan is also an excellent way to keep yourself in the forefront of a past client’s mind and make him or her more likely to recommend you to family and friends. 7 Sending free movie passes, packets of seeds for flowers that are easy to grow, and entertaining stickers are all great, easy gifts to send to maintain contact with clients.
2. Personal Cards Many real estate agents send cards to their clients around the holidays, but there is a better way to stand out in the crowd. Remembering important dates in the lives of the clients, such as when they first signed the deed to the house, their birthdays, wedding anniversaries, and graduations. By sending cards that commemorate one of these days, it will show the client that you care about their lives. Handwriting the cards is a nice touch that is well worth the time and effort.
3. Use Customer Feedback Surveys Another excellent way to maintain contact is to use customer feedback surveys that assess how satisfied customers were with the services and show that their input is important. Most people recommend that the surveys be sent to the customers about two or three weeks after the sale of the home has been closed. This also allows you to solidify contact information with past clients.
4. Provide Organization When it is time for all of the taxes to be filed, a client can feel overwhelmed with the amount of paperwork that needs to be collected in order to accurately pay their taxes. One easy way to help a client and catapult yourself to high esteem is to take all of the forms and paperwork that were generated throughout the entire process and put them in a binder with marked tabs. The forms that could be included are warranties, any statements of settlement, HUD documents, and appraisals. All of this helps with homeowners filing their taxes and feeling confident that they have been done correctly. It also increases your usefulness, even after the sale has been closed.
5. Call Them If a client seems to be receptive to phone calls, a few days after they have moved into their new home, call them. This is an extremely effective tactic because it not only shows you care about how your clients are doing, but also shows that you are willing to be contacted after the sale has closed. Calling clients makes it easier for the client to call you if he or she is having a problem or wants advice. Using a service such as SlyDial allows you to call a client as unobtrusively as possible, performing the call without even disrupting a current call that might be going on.
6. Provide Useful Advice Providing helpful advice isn’t considered invasive. This advice could be in the form of tips for decorating a home for different seasons, ideas for home improvement projects, and advice with regards to maintaining the home. Past clients will appreciate these ideas for making their home worth more.
By using some of these methods, it will be possible for you to keep in contact with your clients and build relationships that will last for years and produce referrals regularly.
There was a time when marketing was as simple as taking out a newspaper ad, sponsoring a radio program or putting up a billboard in a highly visible area. These times are gone, and marketing is now one of the most complex issues that a budding real estate agent will come across. Fortunately, the amount of potential marketing tools out there does offer one distinct advantage: potential cost savings. And in the world of real estate, these low-cost marketing techniques can make all of the difference in the world. Even implementing a few of these methods can really be a game changer.
Video is Worth a Thousand Pictures They say that pictures are worth a thousand words, and if this is true, then videos are worth a thousand pictures. Whether this video is a walk-through of the newest residential property in your portfolio or a four-minute video on the best ways to buy a home, the point is to get video content out to the world. The reason video marketing is such a great tool is that it increases conversion rates. In fact, statistics show that a potential consumer is 64 percent more likely to make a purchase after watching a video on a product. This single statistic is enough to make it apparent that you should be using video marketing, and if you’re not, now is the time. Many real estate agents, though, will dismiss the idea of video marketing because they don’t think they have to ability. In reality, though, great quality videos now require little more than a smartphone and tripod. 5 With this powerful marketing tool being so simple to utilize, it doesn’t make much sense if you’re not using it.
Reach Out a Congratulatory Hand Being involved in real estate is far different from any other type of business endeavor you could undertake. Every budding entrepreneur needs to become established within their community, but real estate agents need to make honest interpersonal relationships with everyone, including notable figures, in their area. One way that a variety of agents do this is by keeping tab with the local news. This used to require spending a dollar on a daily newspaper, but now it’s as simple as checking local news sites to see what’s happening in the community. Once you spot a “feel good” story, you have your opening. Simply take the time to sit down and jot a congratulatory note for the individual featured in the story. Whether this is a simple “Congratulations on your new store” or “Great job on saving those geese,” the point is to make an impact on the individual. Include your business card in this note, and when they or a friend needs real estate help, you’ll likely be who they turn to. Be the News Some real estate agents often overlook the power of a local newspaper, but they fail to realize that, even in the Age of the Internet, local news sources are still an invaluable source. In fact, even print sources usually have their own corner on the World Wide Web. Knowing this, it’s surprising that more real estate agents don’t send out weekly press releases to the media sources in their local community.
These releases don’t even necessarily need to be big news; many local news organizations will print anything from purchasing tips to the opening of a new office in the area. Another surefire way to get promoted by local news sources is to piggyback off of other important stories. Are there new property taxes set to be implemented? Do a press release on what this means for the housing market. New road work projects on the horizon? Write out information on what this could do to home values in the area.
Take a close look at all the stories in a local newspaper. It should quickly become obvious that not all “news” is really news. Never Overlook Social Media While it seems like one of the most obvious low-cost marketing methods, around 16% of real estate agents use no form of social media. This is simply astounding considering running a social media profile is absolutely free. When compared to other businesses, real estate agents use both Facebook and YouTube social media at higher rates than others. In fact, nearly 80 percent of all real estate agents use Facebook. Doing this is as simple as posting those local articles and videos you’ve created through the aforementioned marketing tactics. In the end, the success of your real estate business will rest upon your ability to get your name out there. Fortunately, this doesn’t require a huge marketing budget. Through the use of the aforementioned low-cost methods, you can become a success.
The refrigerator salesman has zero understanding of social media, yet his sales outdistance those of colleagues. The secret to his success? Ice cream. He hands a gallon to everyone willing to listen to his sales pitch. Who’s going to drive around comparison shopping for other brands with a carton of ice cream in the car? For this savvy professional, his sweet gift proves an unbeatable sales tool every time. What’s to be learned from him since you’re pitching condos and single family abodes, not appliances? That social media driven tools are terrific, but human nature trumps all when it comes to relating to people and proving that you’re the only person they need to make their home-ownership dreams come true. Make your marketing message the real deal by adopting some (or all) of these 10 tips.
1. Tell the Story
Every house sale has a story behind it: the couple leaving a condo because they can finally afford a house, retirees relocating to Florida at last or a single career woman savvy enough to buy rather than rent. No matter which side of the deal you’re on – representing the buyer or the seller – taking time to learn the story behind the sale can’t help but be an asset down the road.
2. Up Your SQ (Schmooze Quotient)
Prying information from prospects early in a relationship is critical so you don’t waste time romancing people who have no business house shopping or those who couldn’t get financing if their lives depended on it. Ask probing questions: Why a client wants to buy or sell and what they can afford. Use your SQ to sleuth out expectations only learned when the chat is casual and off-the-cuff. For example: he has a philosophy PhD; she’s a lawyer. They’re both convinced they can rehab distressed houses on their own but it was never mentioned. Think of yourself as a detective looking for clues.
3. Newbie or Seasoned Vet?
Learn ASAP whether you’re dealing with a seasoned home buyer or a newbie to ascertain how much hand-holding you can expect to do over the course of your relationship. Seasoned home buyers or sellers have been there, done that. New kids on the block could require as much patience as do your own teens, so if you’re impatient by nature or have multiple balls in the air, learning about client real estate history saves time for everyone.
4. Speaking of Time…
Once you establish bonds by sharing the location of your community’s best dry cleaner or offer to put prospects in touch with your hair stylist – nail down a timeline. Finding out when a buyer or seller needs to seal the deal helps you ID the quintessential window shopper and eliminates houses or condos that won’t be ready to accommodate out-of-towners who have already booked a moving van. By the way, this is a great time to find out if you’ve got a fickle prospect on your hands. Ask if a client is already working with a real estate professional. Look ‘em in the eye when you pose the question.
5. What’s Your Message?
Sure, your real estate company has beaucoup marketing messages emblazoned across signage, business cards, mugs and more, but what’s your personal message? Think about it. Your sales philosophy, approach and techniques are unique. Bringing home-baked muffins to a first client meeting may be the ice breaker you’re comfortable using. Of course, if you had no idea muffins came from places other than storefront bakeries, you may wish to bring bottled water, instead.
6. Want to Get Promoted?
T-shirts? Check. Pens? You bet. Calendars? They even have your face on them. But before you sink a bundle into personalized materials, remember that research proves such items usually go to “junk drawers” to die alongside your competitors’ giveaways. It’s okay to invest in a premium that doesn’t break your budget, but do some market research first. Find out what people would actually use by surveying friends and relatives. Ask for opinions and you’ll get them.
7. Everyone Wants Approval
Pre-approved customers are near and dear to the hearts of real estate professionals because only serious prospects are this efficient. As a result, they also know their spending limits and define their own time parameters, big blessings for anyone who has suffered a string of sales that involved getting financing after a client has fallen in love. Does this mean you should give folks who aren’t pre-qualified to the office newbie? Never. That’s why you have mortgage lending resources on your speed dial.
8. Think Like a Social Scientist
Remember the name Maslow and your teacher’s lecture on “man’s basic needs”? Time to put his theory into your real estate practice. Maslow’s pyramid explains that basics like food, shelter, sleep, sex and safety drive human behavior long before a person seeks affection, approval and acceptance. You’re selling shelter and safety, not a house or a condo. If a sale is successful, you give clients access to food, sex and sleep.
9. Tool Around Scientists don’t give up.
They keep trying new ideas until they’re successful. Need we remind you that as unique as your clients may be, you’re equally unique? So don’t be hesitant to audition what works for competitors or colleagues to see what suits your sales style. One real estate professional says his website – not the firm website – draws traffic. Another uses property blasts to give clients “exclusives” on new listings. Try everything that doesn’t require breaking the law. Dump what doesn’t work and keep the rest.
10. Don’t Phone It In
Develop trademark kindnesses (those muffins), be effusive about thanking customers, remember birthdays and kids’ names – and for heavens’ sake, read at least one client blog post if they send you a link! Importantly, take passion checks. If you’re phoning it in, how much success can you expect? Need a break or vacation? Take the honeymoon first and rediscover your love. In the end, the most powerful message you send is your enthusiasm for your career!
As a real estate agent, your listings are your bread and butter. It’s important to make sure they stand out from the competition and accurately showcase the features and benefits of each property. One tool that can help you create compelling
listing descriptions is GPT, or Generative Pre-trained Transformer.
GPT is a type of artificial intelligence (AI) that uses machine learning to generate human-like text. It can be used to write everything from news articles to marketing copy, and can be a valuable tool for real estate agents looking to create attention-grabbing listing descriptions.
To use GPT for real estate listings, you’ll need to provide the AI with some basic information about the property, such as its location, size, and key features. From there, GPT will use this information to generate a detailed and descriptive listing that highlights the property’s strengths and appeals to potential buyers.
One of the benefits of using GPT for real estate listings is that it can save you time and effort. Writing detailed and descriptive listings can be time-consuming, especially if you have multiple properties to list. With GPT, you can quickly and easily generate professional-quality listings that showcase each property in its best light.
Another advantage of GPT is that it can help you write listings that stand out from the crowd. With so many listings to choose from, it’s important to make yours stand out. GPT can help you create unique and engaging descriptions that catch the attention of potential buyers and set your listings apart from the competition.
In conclusion, GPT is a powerful tool that can help real estate agents create compelling and attention-grabbing listings. Whether you’re looking to save time or create standout listings, GPT can be a valuable addition to your real estate marketing toolkit. Learn more about Artificial Intelligence GPT here. Try using ChatGPT here.
in your power to appear calm and collected; the client must not know how much this listing means to your family. As if in slow motion, just before the words, “Are you ready to sign,” can form themselves in a nonchalant manner and burst from your lips, it happens. Mr. Quibble stabs at the contract, placing the tip of his fountain pen on your listed rate of commission. “Now, let me ask you this,” he blusters authoritatively. “Are you willing to come down from your rate of commission to make this deal?” Pause the tape.
y keep in touch with past and current clients, as well as plan to create ties with clients in the future. This personal bond with each client will make them more likely to remember you and your excellent services, rely on you in the future, and recommend you to their family and friends. The key to keeping in touch with clients is to determine if they want a relationship and then to contact them in a way that they prefer that still manages to be memorable.
marketing is now one of the most complex issues that a budding real estate agent will come across. Fortunately, the amount of potential marketing tools out there does offer one distinct advantage: potential cost savings. And in the world of real estate, these low-cost marketing techniques can make all of the difference in the world. Even implementing a few of these methods can really be a game changer.
The refrigerator salesman has zero understanding of social media, yet his sales outdistance those of colleagues. The secret to his success? Ice cream. He hands a gallon to everyone willing to listen to his sales pitch. Who’s going to drive around comparison shopping for other brands with a carton of ice cream in the car? For this savvy professional, his sweet gift proves an unbeatable sales tool every time. What’s to be learned from him since you’re pitching condos and single family abodes, not appliances? That social media driven tools are terrific, but human nature trumps all when it comes to relating to people and proving that you’re the only person they need to make their home-ownership dreams come true. Make your marketing message the real deal by adopting some (or all) of these 10 tips.