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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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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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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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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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