Tougher Markets Call for Stronger Selling Tactics

With so many houses on the market and home buyers anxious about paying too much, it’s time to pull out all the stops to make sure your listings are the ones that sell...(More)

Find a Real Estate Niche to Specialize In

Some agents are finding profit, as well as fulfillment, by concentrating on a particular niche. You could be one of them...(More)

Get Better Inquiries About Your Listings

Getting a new listing is just the first part of your job. Use effective marketing techniques to generate more interest from qualified buyers...(More)

De-Stress with Some "Me Time"

While a little stress can actually help you work at your best, too much can harm you physically and mentally. It’s not an indulgence to make time for you, it’s a necessity...(More)

Tougher Markets Call for Stronger Selling Tactics

You know what to do to effectively market a home, but the competition has never been fiercer. This may be the time to unveil some of those special selling techniques that could give your listings that selling edge.

Strive for the right pricing.

It’s easy to give in when a client wants to price their home too high. As long as you advise them against setting a price that’s too high price, you’ve done your job.

To guard against their disappointment and your frustration, it’s more important than ever that you approach the price setting negotiations armed with supporting documentation. Make sure your comparables are recent and include original asking prices along with the selling price and length of time the home was on the market.

Your clients need your professional advice to help them correctly price a home now more than ever.

Get a professional home inspection in advance.

Advising your clients to have a professional home inspection before putting their home on the market has never been more important. Not only will they know well in advance of any repairs they should make, it will also help you work with them to develop the appropriate selling price for their home.

In addition, if home buyers know that a professional home inspection has already been completed, they will likely feel more comfortable about making an offer, knowing that any potential hidden problems have already been revealed.

Stage your listings.

Think of each home as a stage where potential buyers want to see if they can "act out" their future. That is the theory behind home staging. The better buyers can picture themselves living in a home, the more likely they are to make an offer.

Staging can be as simple as making sure the house is clean and all the lights are on throughout the home when showing it to prospects. However, these tasks may call for more comprehensive efforts.

To educate your clients about the advantages of staging, and how an investment in fresh paint and other changes can pay off, encourage them to watch some of the many real estate shows on cable television. Once they realize proper staging could mean higher offers, they’ll be more likely to agree to make staging changes.

Encourage your clients to rent a storage unit and store most of the contents of their closets, all personal items like pictures and trophies, and a fair amount of their furniture. This action will make the home seem more spacious as well as less like “someone else’s house” to prospective buyers.

From dressing up front yard flower beds, to having fresh-baked cookies in the kitchen, proper staging could add thousands of dollars to an offer and make you a hero to your clients in a crowded market.

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Why would you want to specialize? The more you know about the wants and needs of a particular group of homebuyers and sellers, the better able you are to fulfill them. In addition, members of a niche tend to know each other – in that small group, your name can be passed along to others with similar interests.

You’ll also be able to cost efficiently target members of a niche market with advertising. Not only will you be able to advertise your expertise in a market area, your ad won’t be competing with scores of other agents in specialty publications.

Best of all, you can even use your own interests or hobbies to develop your particular niche. For example, if you love to cook, you could focus on helping other home chefs find homes with gourmet kitchens. Your understanding of their wants as well as your shared enthusiasm for the subject will strengthen your relationship and the chances of referrals, as well as repeat business.

Not sure what niche you might like to focus on? Here are some possibilities:

• First time buyers. They need special help, and by catching them as they enter the housing market, you could be their agent for a lifetime.

• Condominiums. There are two types of buyers and sellers here. Some want to live in a condo part-time, renting it for a year. Others are looking for a yard-free lifestyle. Knowing the particulars about condo ownership, fees, and rental management firms can help you here.

• Singles. There are over 55 million households headed by singles and, according to the Census Bureau, 54% of them are women.

• Vacation and resort homes. For this niche, you need to live in the right place. It also takes excellent Internet marketing skills in order to attract out-of-town clients.

• Boomers and seniors. This niche has different income considerations and might have special housing requirements – such as single floor homes. You might want to gain a SRES® (Seniors Real Estate Specialist) designation to better serve this market.

These are just a few of the options available to you. Luxury homes, young families, Hispanics, equestrians and more, are other possible niche markets. Find the niche that best suits you and start reaping the benefits.

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Serious home shoppers are looking for serious information. As the listing agent, they depend on you to get the facts to them. After all, they’re not going to look at every home on the market. They’ll only look at those where the description closely matches their wish list.

Add Details.

Make sure every home ad – whether online or in print – includes a lot of detail. The more information you share about a home, the more likely you will receive calls from highly qualified prospects.

Location, price, the number of bedrooms and baths are just the start of what you should include. Describe the general style of the home (contemporary, Georgian, cottage), the landscaping (treed lot, room for a pool), and any special bonuses it might have (marble fireplace, vaulted ceilings, updated kitchen). Adding more details not only helps a shopper decide if a home is right, it also helps build excitement.

Get Visual.

The more pictures you include in a listing the better, whether in flyers or on online. However, make sure you take meaningful pictures. Avoid using pictures that show more of the furniture in a home than of the home itself. A picture of a couch and end tables against a living room wall doesn’t tell a potential buyer anything about the home you’re offering. Focus on the things that are fixed: fireplaces, kitchen built-ins, foyers, backyards, master baths.

Bad pictures can be even worse than no pictures. Never use pictures that make rooms look dark. Make sure no people or pets are in the pictures you take. Enlist the home owners help in shifting furniture, clearing counter tops, or bringing in additional lighting if it will make a room look better.

Don’t hesitate to add virtual tours to your online listings. Someone who is interested in seeing a home after checking out a virtual tour is a very hot prospect indeed.

Make It Accessible.

If at all possible, get your homeowner to allow a lockbox on the property, with just a phone call for permission to use it. The easier it is for an agent to show your listing, the more likely they are to do so.

Also, consider holding an agent-only preview of your home. Include refreshments or drawings for door prizes to encourage a good turnout. Agents are more likely to sell a property they have already toured.

Market each new listing with all the information you can, and you might find that not only are there more inquiries, they’re the type of inquiries that lead to sales.

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De-Stress with Some "Me Time"

If you are always reacting to situations – doing things for other people or rushing from one task to another – you can lose your sense of control. This creates stress, which, in turn, can increase your risk of serious health problems such as diabetes and heart disease.

For a happier life, it’s important to take steps to regain control and make some time just for yourself, doing something that you find pleasurable.

Prioritize and delegate.

Write down everything you need to accomplish and determine how much time each task takes; if it’s too much, delegate. Turn over some household tasks to other family members or outside services. Consider hiring a part-time assistant to handle some of your workload. Once you prioritize the things you must do, you can focus on more important tasks and expend less energy on others.

Give yourself a break.

Once you’ve accomplished something, take a moment to congratulate yourself. Reward yourself with a few minutes of relaxation, even if it’s as simple as closing your eyes and visualizing a peaceful vacation spot.

Also, be sure to take vacations. If you find it creates more stress to take longer retreats, plan several shorter vacations instead.

Breathe.

Deep breathing promotes relaxation and body awareness. Breathing through your nose, slowly fill your lungs completely. Then, slowly exhale through your mouth until your lungs are completely empty. Doing this not only helps create a sense of peace, it can actually increase your lung capacity for physical activities.

Find something that pleases you.

Some people find pleasure in exercise, while others see it as a task. Some people enjoy reading, while others find it boring. When building “me time” into your life, it’s important to pick something that you find pleasurable. It could be anything from getting together with friends, to soaking in the bath, to keeping a journal. You know what pleases you; just make time to do it.

Meaningful time for you is a physical need just like food and drink, especially in today’s fast-paced environment. Give yourself permission to relax. It’s a proven way to make you happier in everything else you do.

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