How to Win in a Multi-Offer Situation With Your Buyer

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The last few days I have been helping a Buyer in preparing an Offer in a competitive situation where they were multiple Offers.

My Buyers won!!  The Sellers accepted our Offer.  Very exciting :)

Here are some tips to help you when you are helping a Buyer and you are competing with multiple offers.

1.  Increase the amount of earnest money your Buyer submits with the Offer.  Do not do an Alternative Earnest Money Deadline–deliver the earnest money check with the Offer.

2.  Coordinate with a home inspector and have the home inspection scheduled as soon as you can after the Contract is accepted.  Two days after would be ideal and then set the Resolution Deadline for one day after.  I don’t believe in waiving the Inspection for Buyers.

3.  Have your Buyers write a heartfelt and genuine letter to the Sellers.  Highlights–how much they love the house, how they love what the Sellers have done with the house, how they are going to love living in the house and will take great care of it.  It has to get the attention of the Seller in a good and emotional way.  The personal part of the sale for the Seller is very important–it’s not just about the money for some Sellers.  Do not include a picture of your Buyers with letter–against Fair Housing Laws.

4.  Write a summary sheet and give highlights of why the Seller should choose your Offer.  Make it easy for the Seller to read your Offer so it will stand out.  Remember they will be frantic reviewing 5-10 Offers.  If you can deliver a hard copy of the Offer to the Listing Agent so this make it easier for them to accept it since yours is already printed out and all they need to do is sign it.

5.  You as the Realtor play a very important role in this so you need to make a positive impression.  Highlight your strengths as a Professional Realtor.  Get the other Realtor to feel confident in your abilities.

6.  Set the Closing date based on exactly what the Seller needs.  Find this out ahead of time.

7.  Don’t jerk around with inclusions and exclusions–just do it exactly the way the Seller wants per the listing sheet.

8.  This goes without saying but if your Buyer is getting a loan then include a Lender Letter with the Offer.  Keep in touch with the Lender if Closing date is tight to make sure they can fulfill their end of the deal.

9.  Communicate effectively with the Listing Agent without stalking them.

10.  Coach your Buyers in that we will do the best we can to get the house but if we don’t we will find another one.  Make sure they don’t get too upset if they lose the deal.  Hope for the best, expect the worst.

Good luck to you!!

 

What is Important to Young and Older Real Estate Clients?

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I came across this today when surfing the internet in the morning—

“When choosing an agent, younger buyers were more likely to place the agent’s honesty and trustworthiness as a higher factor than older buyers, while older buyers rate the agent’s reputation and their knowledge of the neighborhood as a higher factor—perhaps because older buyers tend to move longer distances and may not necessarily know the neighborhood.”

Source: 2014 National Association of Realtors® Home Buyer and Seller Generational Trends

I find this very interesting because it fits in exactly with the heart of my book:  “The Honest Real Estate Agent.”  For those of you who have read my book you know what I mean.

Consumers want a Realtor who is honest, trustworthy and has expertise in their area of need be it a neighborhood, market segment, etc.

I personally don’t get hung up in age categories for clients and just assume all clients want this.

 

 

Staging Your Home For Sale? Follow This Easy Guide And Find Success!

mariojann:

Good post! Thanks Michaela :)

Originally posted on Twin Cities Real Estate Cafe:

Staging Your Home For Sale? Follow This Easy Guide And Find Success!If you are going to be staging your home for sale in the near future, you will most likely want to do it as professionally and successfully as possible to get the best sale price.

Many owners have to put a lot of money into their home before they can sell it, and some even invest in a staging expert to come to their home and do an assessment before they put it on the market.

You don’t have to spend too much on getting your home ready, though, and you can do a lot of it yourself. Consider these basic staging tips when you are going to stage your home.

Clean Your Home From Top To Bottom

While you would most likely clean your home before you attempt to sell it, if you really want your sale to be successful, clean every single thing in the home. This includes…

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New Realtors: Don’t Give Up–Your Clients Need You

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This past weekend I got back to work after a ten day vacation in Hawaii.  Like most people I didn’t want to come home.  The Big Island of Hawaii is beautiful and where we stayed on the Kona side the weather was amazing–the high temp was 82 degrees and the low temp was 72 degrees everyday.  I’m not kidding, load Kailua, HI in your weather app and check it out.

But once I got back into the swing and working with my Clients it felt so good to be back.  One of the best parts about being a Realtor is the relationships we build with our Clients.  I have also come to realize how much our Clients depend on us.  They trust us and need our help and advice.

So for you newbies out there keep this in mind when things get tough and you have some challenging patches.  We all have our slow times and difficult stretches.  Don’t let the hard times get you down.  Being a career Realtor is not easy so keep at it.  The payoff will come when you least expect it.  For me I felt it this past weekend reconnecting with my clients after a ten day vacation.

Don’t give up.

What is the Question Consumers Will Ask about Realtors in Future?

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For years when consumers have needed a Realtor the question has been:  Which Realtor should I use?   It was a given most consumers would use a Realtor when they bought or sold a home.

Lately, some consumers have been asking:  What type of Realtor should I use?  A full-service Realtor or a limited service Realtor?  (Limited service Realtors most times offer a much lower cost to consumers or a rebate back to the consumer in some cases).

In the future, consumers will ask:  Do I need to use a Realtor when buying or selling a home?

Ah, this is question I want all of you to consider going forward.  In the digital age there’s so much information available to the consumer which was not the case ten to fifteen years ago.  Some consumers will feel they can do it themselves.  We’ve always had “For Sale By Owners” but eventually we will see more Buyers doing it themselves as well.  Check out Zillow’s “Make Me Move” listings where a potential Buyer can contact the Seller directly.

How do we respond to these future consumer shifts?  We keep building and promoting our value as full service Realtors to the public.  Content Marketing is so important because it displays your knowledge and expertise in your market.  You have to have Testimonials available somewhere online for your prospective Clients to see so you can show how you’ve helped and added value to other consumers.  I don’t see Realtors going away because a good portion of consumers still need our expertise and help.  It’s a complicated transaction and process and consumers need our guidance and support.  But we must be aware of the shifts in the marketplace.

What are your thoughts on this issue?  Are you seeing this trend as well?

Be the Customer as a Realtor and You Learn So Much

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I’ve always said one of the best ways to improve as a Salesperson is be the customer, see how it feels to be on the other side.  When I was younger I did a lot of role playing to improve my sales skills and I learned the most when I was acting the role of the customer because it was so helpful to feel what the customer goes through.

Yesterday my wife and I viewed a home for ourselves.  Our current home is very nice but we have a few issues we’d love to improve upon–a bigger mud room when you enter the house through the garage, a bigger master bedroom closet, a finished basement and maybe more space in the family room.

The house we looked at yesterday was amazing, it had all of these features and so much more.  We were blown away by what we saw.  But we ran into one stumbling block.  The kitchen in the house was really small and not as high end as our kitchen in terms of appliances.  In the back of my head yesterday a voice was saying:  “but it’s a beautiful house, you can make a small sacrifice and just live with this kitchen.”

Last night we were cooking dinner at house and my wife and I both realized even though the house we viewed was amazing the kitchen would just not work for us.

My point is that Buyers will always have at least one or two “must-haves” they will never give in on so don’t press them.  You are not the one who is going live in the house, they will, so let your Buyers decide on which house they want to buy.

As a New Realtor Do You Have a Realtor Blog or Website Yet?

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If you’re a new Realtor then I want to know why you don’t have a blog/website yet.  You have no excuse.

Just to prove my point I created my own new blog/website recently through Word Press.  I only paid $26.00 for the unique URL.  I have not gotten any technical help or assistance in what I have created nor will I in the future.

Here’s my website:  http://thebouldertriangle.com/

What I love about Word Press is that I am creating a website and a blog.  Very cool!!  I am using all of their templates as is–I have not upgraded to Premium—just using the basics.

I am going to see how long it takes me before I start connecting with prospective customers through this new blog/website.

Check it out and let me know what you think of it so far.

If you do have a new blog/website then post it here in the comments and I will let you know what I think.

Here are three excellent sites from new Realtors:

http://bhambricks.com/

http://twincitiesrealestatecafe.com/

http://sloanshomes.wordpress.com/

 

Is There Ever a “Right” Time to Quit as a Realtor?

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Is there ever a “right” time to quit as a Real Estate Agent?

This is a very difficult question to answer.  I’ve been in sales all my professional life and I have seen many people come and go into the profession.  I’ve been a Realtor with RE/MAX Alliance since May, 2003 and I have seen a lot of Realtors come in and out of the business.

Since I wrote the first edition of my book:  “The Honest Real Estate Agent” a few years ago I have made friendships with a lot of new Realtors around the country and the world even.  What hurts me the most is when I find out somebody had to quit and move on to a different career.

Financially this is a very challenging career to break into.  It’s a commission based compensation and at the same time we have costs to get the business started.  This is why I am such a strong believer in doing so much “FREE” online marketing when you start.

I remember my first job out of college back in the old days of the mid 1980s.  I got a degree in Political Science from the University of Colorado.  I had to get a job when I graduated and at that time the best options for me were direct sales positions.  I got a job at local computer software company selling turn-key computer systems with the software.  I remember my monthly salary was $1,000 plus commissions.  My first year I made $18,000 where a lot of my student friends were making $40k or more a year.  It was very depressing for me at that time.  But, I stuck with it.  I worked hard because I had no other options.  I grew to like the job and by my third and fourth year I started making good money and then over time I started going past $100k in compensation.

The high tech bubble burst in 2000 and this is when I made my transition into real estate.  I worked at a Corporate Housing company and I learned the relocation business.  I had a great background when I became a Realtor in 2003.  I had a solid background in sales and relocation so I had a niche that was very strong when I started.

I know a lot of you don’t have the same background as I do but I feel having the sales background that I did helped me get my real estate business going in the first few years.  I knew the cycle of sales where you might have months go by where you didn’t have a big sale and then it all comes together in a rush.  I was confident in my abilities as a Realtor when I started out so I never had a doubt in my mind that I would be successful.  And I loved the job from the very beginning because helping people buy or sell their home is great because I am adding real value to my customer.  I was energized and engaged because I found my job fulfilling.  I remember being on such a high the first couple of years when I started as a Realtor.

I know if you stick with it you will succeed but if it’s not happening for you then I think you need to ask yourself the following questions:

1.  Are you energized being a Realtor?  Do you love closing deals?  Do you love helping your Buyers find a home?  Do you love helping your Sellers?

2.  Do you enjoy the marketing end of the business?  Sales and marketing go hand in hand in small business.  You will not be successful as a Realtor unless you keep the marketing engine going–phone calls, emails, blogs, hosting Open Houses, direct mail, videos, networking, and just putting yourself out there.

3.  Do you have the mental fortitude and strength to withstand the slow times?  This is so important because you need to maintain a positive attitude and exude confidence when business is slow.  Do you have thick skin?  Can you bounce back from losing deals?  You will lose deals and you will lose clients.  This is a part of the business.  You have to have the ability to deal with it, let the emotion go and move forward.

4.  Do you have call reluctance?  This is where you avoid making phone calls, avoid hosting Open Houses, avoid coming into contact with prospective customers.  If you have call reluctance then you have to snap out of it.  I remember early in my career I had it at times but I got over it by reading “The One Minute Salesperson” and believing in my heart I was HELPING my customers by making the calls and doing the work.  By HELPING my customers get what they wanted and needed in return I would get what I wanted and needed.

5.  Do you procrastinate?  Do you continually put off sales and marketing projects?  If you continually have procrastination then you need to find out why.  Dig deep.

6.  Do you have a BIG enough reason why you want to succeed as a Realtor?  Do you have goals that are pulling you to the future?  Do you have goals which excite you and motivate you to do a good job?  When I became a Realtor I had a number of personal reasons which drove me to succeed.  I find I have done best in my life when people doubt me and I prove them wrong.  You need to have a reason and goals driving you to succeed.  This is not the type of career where you can float by and just put in the hours.

7.  Are you making progress?  Get a review from your Managing Broker.  A reality check is always helpful.

8.  Do you have fun and enjoy the time you spend with your customers?  For me I love going out and looking at houses with Buyers.  I love writing contracts and putting deals together.  I love going to Closings seeing my clients buy or sell their home and seeing them so happy.  I love marketing, doing videos, writing blogs, creating direct mail pieces, having lunches with past clients and my sphere.  I love the different Continuing Education classes I get to take.    If you don’t enjoy the job and are not having fun then that is a red flag.

9.  Are clients walking all over you?  Do you feel you have no control over the process?  To me this is a sales issue and you haven’t learned how to be strong and direct the process.

10.  Are you begging for business?  This to me is not a position of strength.  Prospective customers need to come to you and ask you to be their Realtor.  If you’re begging then that is not good.

Go through this list.  Think about where you are in your life.  If you stick with it you will being a Realtor find being a fulfilling and satisfying career.  I wish you the best in life.  Let’s do it together!

The Honest Real Estate Agent Consulting Program

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I guess this has been a long time coming.  For some reason I have been resisting but I decided over the weekend to move forward with offering my services as a Consultant to new Realtors.

I am very excited about the opportunity of working directly with a lot of you who have read my book, watched my YouTube videos and are now following me on my blog.

In today’s world of technology we are all connected.  A Skype call (for free) can connect any of us from around the world.

Fore more information on my consulting services, click the “Consulting” tab up on the left of my blog.

Thank you.

 

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