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3-STEP GUIDE TO KILLER LISTING PRESENTATIONS

Young couple preparing real estate presentation

In the real estate business, the old adage stands – “If you list, you last!”

It doesn’t matter how you dress up your presentation or how many bells and whistles you add to it, if your presentation does not impress – you won’t get many listings. This simple 3-Step guide can help you rock your presentations and get more listings.

Step 1 – The phone call Getting accurate preliminary information is a prerequisite for your presentation. Having a list of questions ready when a prospect calls you about the possibility of listing their house, is step one. Very often, the first phone call from a homeowner is the place to gather as much information as possible about the homeowner and the property, regardless of whether you plan to follow a one-step or two-step presentation process.

The more the information you get, the better your chances of cross-referencing the listing and understanding the various nuances attached to a sale. Don’t hesitate to ask simple questions such as:

  • Where did you hear about me?
  • Why are you selling your property?
  • By when do you need to sell? Is there an urgency to the sale?
  • Do you have a price in mind?
  • How did you arrive at the price? How flexible are you with this price?
  • Are there any financial considerations I should know?
  • Does the property have any legal issues that can affect listing?
  • Has your home had any renovations, additions or major repairs?
  • What makes your home stand out from your neighbors’ homes?
  • Can I meet with all the decision-makers?

Step 2 – The comps With the basic information, you will already have some idea of property, location, and its Saleability. But without knowing the home-seller’s area, it won’t be of much use. So, the next step would be a drive-by of sold listings in the home-sellers area and visit every home in the area that is on the market. This is the best way to ensure that you’re aware of all of the various negatives and positives of the listing presentation itself and also other homes in the seller’s neighborhood.

Hidden damage to the exterior or patio can be a damper to the listing, just as dilapidated signage or broken lighting can. Just driving through the area, you can come to understand the general state of affairs in the neighborhood. This will also help to understand what investment into the property will yield the best return.

With all of this information, you can move to step three – compiling the CMA for your new listing.

Step 3 – Compiling the presentation  Whether you choose a fancy presentation on your laptop or the older printed & bound format, a good listing presentation is like a good book with a “beginning, middle and end” and it should engage the seller from the first page itself. Other than the presentation, pay attention to these “deal-makers”.

  • Solid delivery: Rehearse your pitch a number of times before you arrive at the seller’s home, so it comes across as confident and convincing. Engage the homeowner by asking questions, smiling, explaining, and guiding. But do not be overpower at the same time.
  • Positive body language: Engage with the homeowner in a friendly manner and ask probing questions, without coming across as overbearing or aggressive.Maintain eye contact, especially while making an important point and demonstrate concurrence by nodding your head or smiling where appropriate.
  • Be attentive: In order to get the full picture, you truly need to remember what the homeowner is telling you. If you do not have an answer ready, make a note and tell them you will get back to them – and do that. Asking the right question, and noting responses demonstrates that you are listening and what they the seller is saying is indeed important to you.
  • A single agent please: Even if you are teaming with two or more agents, only one should go on the listing presentation. More than one is overkill and can be construed as a desperate move on your part.

There is no beating the feeling of walking out of a homeowner’s house knowing you absolutely nailed that listing presentation.

Follow this simple guide and make it happen!

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FOUR TIPS TO GET THE BEST FROM YOUR LISTING AGENT

 

Aside from selling their houses in the shortest time and for the most money, many first-time sellers really aren’t sure what to expect, from their listing agent! The truth is, what you can expect are the very things that a good agent is uniquely qualified to deliver. Focus on these four areas, to get the best from your agent.

Need For Speed One of the most important attributes when selling your home is closing the deal within a specific time frame. This is as true today as it was back in 2011 or 2012, based on a survey of real estate consumers conducted by The National Association of Realtors®. The need for speed is apparent in most transactions and usually presents a delicate situation for sellers, as timing is largely dependent on price. Experienced agents will communicate your sales proposition to potential buyers, without compromising the opportunity: “Do you want to sell quickly? Or do you want to sell for the best price possible?” With solid market knowledge, sales experience and networking, a good agent will know how to balance the two and work the deal to your advantage.

Beefier Marketing As a seller, marketing your property to the maximum number of qualified sellers is an important requirement, as it opens up the opportunity exponentially. Even though an improving housing market is speeding up home sales over past years, it is still no easy task to sell your single-family home, multi-family home or apartment without the right marketing plan. And as a first-time seller, the perfect plan may not be in your reach.

Good agents are experts at varying the depth and breadth of the marketing efforts required to get the result expected by the seller. If you feel the proposed plan looks skinny, task your agent with a beefier marketing plan to ensure your property gets the widest and most targeted exposure possible. Ask your agent to share the listing presentation with you and ensure go it goes beyond the basics of listing on the MLS, with specific marketing tactics targeting specific demographics of potential buyers.

Pricing To Win The most challenging part of the listing presentation is establishing what your house is worth on the market as the list price (or even a price range) can make or break your chance at getting the best deal. As a seller you will have conducted your own research on homes for sale in the neighborhood but should still expect this magical number from your agent! Experienced agents know the home buying-selling landscape well and are more in touch with buyers’ expectations. They can greatly simplify the process of coming to agreement with the buyer about the best. price. Ask your agent to benchmark a sale price for a neighboring property and spend some time researching and validating the price to get more comfortable with your agent’s way of working.

 Finding The Buyer As a first- time homeowner, you may have big expectations but not enough knowledge of the home- selling process. For example, you may think it makes little sense to widen the marketing efforts to other agents when it just be focused to the public at large. Despite what you may have read up on or been advised, it is the agent who usually finds the buyer, and sometimes that can be another agent, who will bring in the buyer…. hence the need to go beyond the search for individual buyers! Despite a killer presentation, full-on property marketing and individual sales effort, finding the buyer is what your agent can do best for you.

 Pricing your property, knowing buyers’ expectations, meeting those expectations and following through successfully is what you can expect from a good listing agent. Use these tips to get the best out of yours.

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WANT THE BEST PRICE FOR YOUR PROPERTY? HERE’S HOW.

If you want the best price, simply listing your home is not enough, not even in a seller’s market. You need to get everything right to make a successful closure, and feel secure and comfortable doing so. As they say, “Close enough is not good enough”, so follow these pointers to improve your chances.

Right Agent There are thousands of listing agents out there, but you need to find one, that’s just right for you. A “One-size fits all” approach does not usually work as a good buying agent may not be equally good at listing properties. Good selling agents must possess excellent local knowledge, have established sales histories and experts at marketing properties, whilst maintaining transparency for the entirety of your transaction. Strike the right balance in doing your homework and letting your agent do his. Once you have made an educated choice, let the agent manage the process and take a step back. Then there is the all-important commission, but remember, if your goal is to get the highest price it may be worth trading off the extra point in commission. Take into account, experience, expertise, track-record, specialization, market reputation and personal interaction, when choosing your agent.

Right Price Listing your property at the right price is key to a quick sale. Over-pricing runs the risk of longer than necessary delays as your property will most likely sit vacant while the cheaper houses sell. With lower than expected showings you may have to consider lowering the price, and the ball will be in the buyer’s court. If not, the listing could run to weeks or months before you have a showing, which is fine if you are willing to wait it out for the right buyer. Under-pricing can lead to a quick deal, but be prepared to trade off potential gains from genuine buyers. To keep buyers and real estate agents interested in your property, list at the right price from the get go, and take your agent’s expertise and experience into consideration.

Perfect Showing Put yourself in the buyer’s shoes because the impression you get is as close to what a potential buyer will get. Maintain the exterior (and interior) of the property for as long as it is on the market. Signs of neglect are sure to turn buyers away, and also reduce the perceived value of a property. A strong first impression is key to influencing buyers. Fully functioning lights, pleasant temperature, polished fittings and fixtures clean interiors, furniture (if part of your sale) clean toilets will signal genuine interest to buyers. Make every showing as if it were the last and the rewards will start to come in. If you can’t do it all yourself, enlist the help of a professional company specializing in staging and showing homes. Or your listing agents may be willing to do this for you, to enhance the overall impression and value of the property.

Negotiate Successful showings will result in multiple showings, or atleast they should. Depending on the urgency, you may be tempted to go for an early offer in the interests of a quick sale. Even if it is lower than your expected price, you may find yourself justifying the reduced margin in the interests of a speedy sale. Or maybe “Sales” is just not your cup of tea and protracted bargaining is not what you want to spend your time doing. But remember, even as buyers will always have their best interests in mind, they may be willing to up the ante for the right home. In this line of work, negotiations are common place and one is almost expected to work the price points. Don’t be unreasonable as buyers may move on to the next property, but also, don’t be shy to negotiate the highest price you can.

Right Offer The highest offer is always a strong motivator to sell, but wait! There is more to an offer than just price, because an offer that ultimately doesn’t close means you will have to re-start the process, without any guarantees. Buyers that were interested in your property a month ago, may no longer be around, or will already have moved to close another deal in the market. You want to make sure the final offer justifies the time and effort spent in reaching a closure in the easiest manner. And sometimes it may not be the highest offer.

Trust your gut feeling. Go through the financing, closing date and other details with your agent, including the pre-qualification letter, loan agreements (if there is a loan attached), contract and all other legal documents. Sometimes buyers will delay the down payment, create difficulties in submitting the final offer or ask for unreasonable contingencies – an indicator of difficulties the deal may present down the road. Whereas sometimes you know you are on a winner, just by meeting a potential seller who makes everything as easy as possible. Weigh up the offers. And make the right decision in trading off the highest offer with the easiest closure.

Trust the vibe and go make money!

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MAKE SMALL LIVING SPACES FEEL LARGER WITH A FEW EASY TIPS!

 

MAXIMIZE THE VALUE OF YOUR HOME OR RENTAL. OR JUST MAKE YOUR CURRENT SPACE BIGGER!

Sunday garage sale with the lemonade stand! Over the years we end up collecting far more stuff than we’ll ever need. And at some stage it may be good to get rid of clutter. Rule of thumb – If you haven’t used something for six months, you probably don’t need it. Get hold of old toys, clothes and stuff you haven’t touched in a while to hold a garage sale. Get the kids involved and make a fun day of – complete with a lemonade stand!

Re-think storage at home.  Once you’ve cleared out the clutter you can start making better use of existing spaces at home. You may have completely ignored your attic, which can be cleared out to make for excellent storage. Lofts are a great way to get stuff off the floors. Elevated shelves, wall-racks and in-closet racks are an alternative standard shelving, and they also create a nice optical illusion of space.

Consider multi-purpose furniture. Fold-away beds are great for maximizing space in bedrooms or smaller spare rooms, and can practically create a whole room by folding away. The same goes for a nest of tables, stackable tables and fold-away desks. These can all be folded out of sight when not in use, opening up hidden space. Beds with storage can double up as toy bins and linen cabinets, often eliminating that extra closet hogging up a corner! In any case, heavy, boxy furniture is not really in vogue anymore. Glass-topped tables can make a huge difference and are trendy. Ditch the solid wood swing doors for elegant sliding glass doors. They can really open up cramped spaces,  adding a touch of class.

Off-site Storage is an option. Off-site storage is worth considering, even though there is a cost attached to it. Depending on how much, you may consider lumping it with your other household monthly outgoings. Or consider it just an annual cost to capitalize, if it frees up needed space at home. This can often negate the need for a larger home, and the associated cost.

Walls & Floors make a huge difference. White is the default color for small spaces, but it doesn’t need to stop there, because light pastels are an equally good option. Mix and match white walls with peach, magenta or mushroom blinds or sheers, to create a light and airy feel to the indoors. Soft florals prints are a good match to light colored walls, and consider doing away with the heavier drapes that have “Been there, ever since we moved”! Flooring can make a big difference in how large a room feels, and consider lighter wood and tile options when the time has come! You will be surprised how much you can achieve just by lightening up the floors in a small room.

Lighting & Mirrors add the finishing touch. Brighter lights can help open up a hidden space, and can alter the entire look of a room. The same effect can be achieved with mood lights. If adding an expensive skylight is not an option, you will be surprised with what a stylish over-size mirror can achieve to create the feel of dramatically larger space, using available light.

So, there you are. The next time you’re considering a change of venue, make sure to try out these tips first! Not only can they save you thousands of dollars in expensive moves, but also the pain of moving. And also add demonstrable value to your home. Or rental.

Happy decorating!

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FORECLOSURE PROPERTY AND THE NEED FOR DUE DILIGENCE. 

"GO THE EXTRA MILE!"

When considering a prospective foreclosure property purchase, the importance of going beyond the façade cannot be understated. Why? Because, the ramifications of a foreclosure purchase gone wrong, can have serious consequences not just for the individual, but also future owners and tenants.

Market potential is the single greatest motivator for investing in foreclosure property. If you were to buy it and flip it, just how much money would you stand to make? Given the sale considerations, perhaps you could land a deal 20 or 30% below the market rate, allowing you to flip the property and make a tidy percentage. But the importance of conducting detailed due diligence is very important.

Conducting due diligence on a foreclosure property is of paramount importance.  Make sure to clear any liens before you buy a foreclosure property, and be fully aware of any outstanding payments to contractors or financiers. Even if all seems okay at first sight, you may face hidden maintenance bills and renovation costs based on project work carried out, prior to your purchase!

It pays to conduct detailed property inspections on a home that’s been vacant for some time, which is often the case with foreclosure homes. Plumbing problems, water leaks, mold, and other obvious problems may be easier to spot, but unseen problems can lurk in structural and foundation concerns, which only an expert can tell. If you have limited real estate experience, it pays get an experienced property manager to do this. This can save you a ton of cash in un-wanted repairs, in the future. Property management companies have years of experience and skills to pick up on details you may skip, as you move quickly to secure the deal.

With a new foreclosure property, maintenance costs can recur continuously for a long time to get it to acceptable standards. You may also need to make more substantial, one-time investments. It is not uncommon to allocate up to 10 percent of the purchase price to repairs – and these are upfront costs, which you will have to pick up yourself.

Quite often banks and finance institutions may choose to forego full disclosure of a property’s foreclosure details. Meaning you will know less about its history of past improvements, structural concerns, and chronic maintenance problems. These will surface over time, and depending on their severity, play a damaging role your property’s ownership and resale value.

So, by all means, go ahead with that foreclosure investment. But only after you are sure that all the little details have been looked-into first!

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Home sales, buying and selling homes, investments, real estate

DO YOU REALLY NEED A REAL ESTATE AGENT TO SELL YOUR HOME?

Home sales, buying and selling homes, investments, real estate
Real estate agent
"REALLY NEED THAT REAL ESTATE AGENT?"

Property owners, or investors, face this decision every day.

Going solo certainly has it advantages, but often trying to save money ends up costing a lot more.  A strong real estate background goes a long way in making the right start, but even so, it may not save money at the end of the day. The DIY approach can result in costly mistakes, and the high price of experimentation can be dis-proportionate to returns.

If it is your own property, you might want to consider selling to a reputable real estate investment firm. Especially if you do not have prior market experience or knowledge and have little time to waste before your home goes into foreclosure, or other financial obligations kick-in. And being a one-off event, it may be the more cost-effective option.

On the other hand, if buying and selling houses is your main business, or you are an investor, enlisting the services of a real estate agent, is highly recommended. Investors know the value of time, and delays in closing are detrimental to profit margins. Time gained from hiring an experienced and professional real estate agent allows investors to pursue more investment opportunities.

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