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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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INVEST AND PROFIT IN FORECLOSURE PROPERTY

Florida ranked among the top 10 states for highest foreclosure rates in 2017 despite the number of foreclosures dropping by 45 percent compared to 2016. In Florida last year, there were 24,215 foreclosure proceedings filed, compared to 43,772 in 2016, according to ATTOM Data, a multi-sourced property database.

South Florida, still has the nation’s highest foreclosure rate at 1.3% and it stands to reason there are thousands of foreclosed homes to invest in. With the numbers reducing, the right investment may be harder to find, but savvy real estate investors are still finding them, and holding or flipping them profitably! The trick to turning a profit without falling prey to problems, is understanding what put these properties into foreclosure in the first place.

What is driving Foreclosures? Nationally, foreclosure filings for 2017 fell 27 percent compared to 2016, reaching their lowest level since 2005, according to the report. Foreclosures are a mix of new and legacy problems. Defaults on mortgages, delinquent property taxes, fraud, flawed court systems and banks still playing catch-up are all part of the problem. Though the situation is better today, property owners are still falling victim to a flawed system which hasn’t properly delivered. You still hear of properties that have fallen back into foreclosure as a result of lending criteria better aligned to interests of banks, mortgage providers and financiers.

Distressed property sales are no pushover. If you think, distressed property owners are all in the market to sell – think again. The decision to hold off a sale or foreclosure can be tied to various reasons. One reason is that property owners that have lost trust in parties that offer to ‘help owners out of foreclosure’ because of the dubious nature of transactions. Unscrupulous operators tend to tarnish the image of the lending business, delivering a setback to owners. Another reason is tighter controls, new rules and regulations to reduce turnover, making it harder for owners to sell, in the face of ready and interested investors. Yet other owners are not convinced they are really going to lose their properties, and delay taking action. Or they are bullish on their property value, delaying foreclosure.

Best practice. Today, investors need better strategies, more convincing arguments and smarter marketing tactics to win-over distressed property owners. Online foreclosure listings like Trulia foreclosures, foreclosures.com, Yahoo foreclosures, MSN real estate are a great start-point. Foreclosure auctions, Banks & Mortgage lenders, Real estate wholesalers and investor groups are all great sources of market information. Title companies mortgage companies, brokers and realtors are good for business based on referrals. Knowing where to look for distressed properties and foreclosure deals, is only one side to investing in the thousands of distressed properties in South Florida. Learning how to prospect and how to make winning offers is the key to sustainable long-term gains.  Invest in the right education, market knowledge, capital and financing, before investing in distressed property.

If sourcing, buying and recycling foreclosure properties for profit is your goal, practice due diligence first!

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NOT EVERY GOOD PROPERTY MAKES A GOOD RENTAL PROPERTY!

Real estate offers many investment formats, though the most commonly known are rehabbing and flipping. Building a portfolio by acquiring rental property is also a good investment strategy but remember – Not every good property makes a good rental property! When considering purchasing a rental property, it is important to focus on aspects that can make a rental property stand out.

Location. Location. Location. This is the gospel about any kind of real estate property, be it rental, residential, commercial, retail or investment. If a property does not have a favorable location, you can be sure, demand will invariably be compromised. Put yourself in your customers shoes. Since rental decisions are based on first impressions and perceptions, the smallest negative can set back long-term rental values. Unlike short term flips, with a rental property a five to ten-year horizon is ideal, meaning you need to have a long-term perspective for the area you are buying in. Talk to other owners in the area to see if they have insights on future development plans for the area. A planned new school, or medical center or even a commercial development will certainly bump up holding value over time.

Rental property goals. Before jumping in, it is advisable to have a clear fix on the short and long-term goals for the investment, since they will determine the level and kind of work you will put in and future upgrades you make. So, the question to ask is – Am I looking to generate monthly cash flow or long-term capital gains? If you only plan on renting out the property for two or three years, chances are you will keep away from expensive upgrades. On the other hand, if you are planning on renting until the property is free and clear, you may consider upgrades and repairs that will enhance curb-appeal and perceived property value. The right decisions will help maximize returns and most likely impact your future investing decisions. Sometimes a sudden jump in value can tempt you to sell before the anticipated ten-year horizon. Or an unforeseen financial circumstance can force you to liquidate. The best of plans can change along the way, but your goals will help you these changes.

Financial considerations. For a rental property, financial considerations are all important. New investors may not have an idea of all the costs associated but should take into account property management costs like utilities, landscaping, repairs and other items. Even the cost of vacancies, should be factored into the overall cost of ownership, which includes beyond loan financing, mortgage, interest amount, taxation and insurance costs. The more you know about comparable homes in the area, the better equipped you are for determining rental value for own property. Take time to talk to agents to get the lie of the land. And if you are planning on getting a property management company onboard, make sure they understand the scope of work involved in managing your rental. That way, you can come up with the real cost of ownership and yield.

Understand your market. Before finalizing a purchase, spend time to understand what investment into the property will yield the best return? Tenants will invariably seek out the most comfortable option, but not necessarily be ready to shell out the extra dollars! Take time to research what’s on offer in the area. Understand what it will take to keep your rental occupied with minimum vacancy gaps. People like to rent homes they are comfortable in, but not willing to pay the extra price for it. Not always! Renters will often place a premium on a driveway, and a garage. Consider investing in one if it will allow you to charge a higher rental and ensure your property retains demand. An outdoor patio may seem like a good idea, but if the cost of putting one in, does not justify the small rental gains, you’re better off without it.

A good rental property is indeed a good business proposition and can help grow your portfolio. But get to know everything about the property and the market to get the best return on your investment.

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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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