Posts Tagged ‘Buyers’

Follow-up and Communication … the Final Keys to a Successful Open House

May 26, 2011

As the fourth and final installment of my open house series, I’m going to share the importance of strong follow-up and communication plans, and why you’ll never achieve the full potential of an open house without them.

Follow-up … or fail!

Quite often one of my clients will call me and say, “I thought I had the best open house! I was so excited afterward! However, nothing has come of it. Not one person has called me back. What happened?”

I’m here to tell you that if you are expecting people to magically call you back, you’re going to be waiting for a very long time. No matter how much they like you, not everyone you meet will call you after that first open house. It’s incumbent upon you to reach out to them! You may need to meet people at several successful open houses before your phone starts to ring. Rome wasn’t built in a day … and neither are relationships with potential clients.

Here are the follow-up actions that need to be part of your open house plan. Some are tried and true … but some may be new to you!

  1. Before you leave your open house, put everything back in order. You’d be surprised how many agents hurry out the door and forget to do this. The seller comes home after the open house, only to find things out of place – or worse yet – hidden away where they can’t find them – and may feel uncomfortable or angry. Remember: you are a guest in their house. Treat your time there as such.
  2. If you were successful in connecting with people who attended your open house and have an email or a phone number, send them a “thank you for coming” email or make a quick phone call. This is not the time to give your sales message!  It is, however, the time for a simple thank-you. If neighbors attended, be sure to contact them as well.
  3. Send a second thank-you when possible, including a message that says something like, “If you didn’t have a chance to sign up for my real estate market update, please give me a call or send me an email and I will be sure to get you that information on a monthly basis.”
  4. Leave the sellers an open house report. If you create this report as part of your open house system and have it preprinted, all you need to do is fill it out just before you leave the open house and put it on the kitchen counter for the sellers to review. Include how many people attended your open house, any comments (both positive and negative) that they made, and your comments about how you feel the open house went. Please be honest here – it’s not fair to only provide positive information, when the reality might be something like “most attendees felt the price was too high.” If they only hear that things are going very well, they will become frustrated quickly if there is no other activity or any offers.
  5. You have yet another opportunity to reach out to people who attended your open house by sending “just pended” or “just sold” postcards at the appropriate times. Keeping people abreast of market activity is another way to stay in touch – and it allows you to articulate your value as a knowledgeable professional.

Communication is critical!

Communication is such a key piece of having a terrific open house, yet so many agents struggle with making guests feel welcome while also trying to establish the beginnings of a business relationship.

There are three key areas I want you to be aware of:

  1. The welcome: Are you a “stand at the front door” agent, or a “sit in the kitchen” agent? What I’m getting at is this: what is your comfort level when people come in the door? I have attended open houses where the agent literally frightened me by opening the front door with such gusto they almost knocked me down! I’ve also attended open houses where the door was already open … and when I walked in the agent was at the kitchen counter using her laptop. She only looked up long enough to say “Hi there.  Come on in and look around.” Finding a balance between the two is a skill that you must learn.
  2. The home tour: Do you like to show people around the house, or would you rather they tour on their own? Some agents are very successful at corralling groups of people and leading an actual tour – others are much more comfortable just letting people wander on their own. Sometimes this depends on the layout or amenities of the house or the seller’s wishes. Regardless of what tour style you choose, you must be comfortable talking not only about the house, the neighborhood, and the current market, but also encouraging people to take a look at all of the display boards and market data that you have provided.
  3. The goodbye: Are guests leaving your open house with a positive lasting impression of you? In talking to hundreds of buyers over the years, the general consensus is that while agents are nice and will say “thanks for stopping by”, buyers rarely feel like they made a connection with the agent. The goodbye is your final chance to make that connection without being pushy. You really need to think about how you want to handle this, based on your personal style.

So remember – you can turn an “ok” open house into a great open house by implementing great follow-up and communication plans.

Don’t forget that the weekend of June 4th and 5th is National Open House Weekend.  Public attendance at open houses this weekend should be high.  Make sure you’re prepared for your best open house ever!


If you joined us for our Unforgettable Open House class this week, thank you! You are on your way to creating your own unforgettable open house during the National Association of REALTORS® Open House Weekend June 4th and 5th.

As our “thank you” to those who came to class AND to those who have been reading through this series, we would like to share a document to add to your open house tools. This is a sample letter you can send out to the neighbors of the open house, offering to put “slow down” signs up due to the increased traffic in the neighborhood. Neighbors love this! This small touch accomplishes several things:

  • It introduces you, the agent.
  • It lets the neighbor know there is an upcoming open house. Remember, people buy neighborhoods…and neighbors are a fantastic way to spread the word about your listing.
  • It shows that you are concerned about the safety of their family.

You would not believe the response agents have received from neighbors so thankful the agent has gone the extra mile in keeping their neighborhood safe.

These safety signs are available in a variety of child safety areas of stores or you can buy them online. This is just one type of sign, but there are others types as well.

This letter is my gift to you. If you use it, I would love to hear what response you receive from the neighbors! Email me what you have heard to denise@thelonesgroup.com.

Open House Preparation … it’s More than Signs and Flyers!

May 19, 2011

As the third installment of my open house series, I want to discuss how you prepare for your open house, and then how to actually host a highly successful open house. 

In order to have a highly successful open house you must prepare, prepare, prepare. Simply showing up at an open house with a couple of directional signs and some flyers is not enough! If you’re like many agents who tell me “Open houses don’t work”, I’m willing to bet that signs and flyers are your only open house tools. That simply is not enough!

Let’s talk about what you do need to do in order to create the kind of open house success you are looking for.

BEFORE THE OPEN HOUSE

It goes without saying that having systems in place will simplify your life – and your open houses!  Once you know exactly what you need for each and every open house you’ll find it extremely easy to get prepared ahead of time.

I recommend that all of your printed pieces – from signage to marketing materials – feature your custom brand. This is one of the best ways to stay top-of-mind with potential buyers and sellers, and stand out in the crowd of open house agents.

Some agents like to have an open house planning list to keep track of what needs to happen the week prior to the open house. Using this kind of checklist is very helpful because it keeps you on track.  You won’t forget one of the key essentials of your successful open house program if you’re managing your activities with a checklist. Regardless of whether you do or don’t create a list, below are the items that I think you must have on your open house checklist.  These can easily be customized for every open house you do.

  • Do the research. I talked about this in last week’s Zebra Report. In order to have a successful open house, you need to strategically select properties that offer the best opportunities for buyer and seller traffic. Do you remember what I said last week?  Instead of letting the property choose you, you need to choose the property. If you’re not sure how to do the research, go back and read last week’s Zebra Report, entitled Put on Your Thinking Cap”.
  • Plan your advertising. I also talked about this last week.  You must take the time to prepare a well-executed online and print advertising campaign. Simply putting an ad in your local paper will never generate the kind of traffic you want – or should expect.
  • Create an “Open House Book”. Provide additional value to attendees by offering a take-away open house booklet which includes full-color pages of information on your listing, as well a “tour of homes” sheet that has information on other comparable listings. You can also include a map showing each home’s location, and a one-page profile detailing your expertise.

  • Create custom branded display boards. A little later in this Zebra Report I’ll talk about display boards – what they are, how to use them, and why they are so important to your business. There is preparation needed for display boards – but once you have the format, it’s easy to update them for each house, or each neighborhood.
  • Plan your signage. If you’re looking for a very easy and inexpensive way to create a buzz around your open house, consider attaching an open house rider to your yardarm sign. This works well if you typically hold open houses on the same day and time … say, Saturday from 1pm-3pm. Attach your sign-rider on Thursday to alert people ahead of time about your open house. (Remember to remove the sign after your open house, however, or your sellers may be surprised the following weekend by a knock at the their door!)
  • Create invitations. If you’ve done your research, and you know who the most likely buyers are for the home you are holding open, send them a personal invitation. Postcards are a great option!  They are inexpensive to create and mail, and they offer a quick and colorful way to catch potential buyers’ attention. Don’t forget to go through your database and think about people who would also be good move-up or downsizing buyers.
  • Plan for a “neighbors only” open house. Again, use postcard invitations and explain that not only do neighbors get a private viewing of the home, you will also have valuable market and/or neighborhood information that you can share with them.
  • Plan your technology. There are a lot of options here, depending on whether you use video, social media or email invitations. Think about what will work best for you, what technology skills you have, and how savvy your market’s buyers and sellers are.
  • Shop for snacks and beverages. Depending on the home and the seller’s wishes, consider providing bottled water and some sort of snack. When you buy in bulk, you’ll save money upfront, and you’ll not be scrambling at the last minute to buy what you need.

DURING THE OPEN HOUSE

It’s what happens during your open house that will ‘wow’ attendees, elevating your open house from lackluster to amazing.

Even if you’ve done an amazing job preparing for and getting people to your open house, that’s only the beginning. Unless you provide a welcoming and professional atmosphere, visitors will likely walk in, and then walk out. Capturing their attention with eye-catching visual props (and accompanying information) is critical to building relationships – and building your business.

  • How to welcome attendees. You’ve put your open house signs on the street corners and at the curb, but have you considered how effective a ‘Welcome’ sign would be either on the front door or as a tent-sign on the front porch? What an engaging way to tell people “come on in – this is the right house – take a look around.” Most agents have never thought of doing this, but in fact it’s a very nice way to welcome your guests. And, if you use your custom branding on your ‘welcome’ sign, you’ve now set the tone for a higher-level, professional experience for your attendees.
  • Do you have a sign-in policy? Some agents have no problem putting out a sign-in sheet; other agents feel it can destroy a budding relationship in seconds. Personally, I have rarely seen this done well. If you are comfortable asking people to sign in , that’s great. If you’re using an excuse such as “my sellers are requesting you sign in for security purposes” be aware that open house visitors have been hearing this for years, and it may backfire on you.
  • Really know the best features of home and the surrounding area. People not only buy houses, they buy neighborhoods and surrounding areas. Identify at least five or ten area features and be able to talk about them comfortably.
  • Display features and benefits visually. This is a must-learn skill – not only for your open houses, but for every piece of home marketing you do. For every feature you want to highlight, there must be a corresponding benefit. Here’s a great example: if the home has a solid oak front door with heavy-duty hardware, the benefit is a heightened level of security, as well as exterior noise reduction. Once you have your list of features and benefits, create tent cards that you can place around the house to describe these to visitors.
  • Provide a personal brochure. Granted, you are selling the house.  But you are also selling yourself and your professional skills. A brochure is a terrific take-away that explains more about you, how you work, and the services you provide to both buyers and sellers.
  • Provide custom display boards. Most of us have visited a new-home subdivision and walked through model homes. These folks are experts at the display board business! They have boards that feature the neighborhood, the surrounding community and the features of the homes. You should have similar boards for the community (see below), plus boards that also showcase market data such as neighborhood appreciation rates, days-on-market statistics and recent pending and sold information. Determine what pieces you want on your boards, and then customize them for each house (and neighborhood) that you hold open.
  • Provide historical sales. People want to know what sort of investment they might be in for, especially if they fall in love emotionally with the house. Show visitors historical data going back far enough to highlight positive appreciation rates, and what they may expect going forward.
  • Display a “community board”.  Your board should include information on the community, such as population, demographics, parks, city services (police, fire stations, city hall), schools, and shopping.  You may also want to create a portable flyer version that visitors can take with them. Show where this house is in relation to other community amenities. It’s easy to overlay a street map with indicators for parks, schools, shopping and restaurants, and create a flyer that attendees can take with them. You may also want to include an aerial view of the neighborhood with the home clearly indicated.

  • Have open house book available. I talked about these booklets above. Once you have your system in place and format done, it’s simply a matter of adding your “open house tour” pages.
  • Provide extra amenities that set your open house apart. Offer shoe covers (also called “booties”) for those people who prefer not to remove their shoes. Or lay down carpet runners in high-traffic areas.  Some agents I know set out a basket of toys and coloring supplies for kids. You’d be surprised how easily this can build additional camaraderie with parents, while also providing a welcome respite for kids who were tired of having their parents drag them from open house to open house.

There is a lot of information in this Zebra Report, and many ideas for how to create a memorable open house for every attendee. It may feel overwhelming at first.  Just tackle one piece or idea at a time and start building your system and plan.  Before you know it you’ll have everything you need to really ‘wow’ your open house visitors.

Are you a real estate agent working in Washington State?

If so, we want to invite you to attend our “Unforgettable Open House” event on Tuesday, May 24th.

We’ll teach you how to design and conduct a truly unforgettable open house experience. You’ll learn the secret “props” needed for success, and how to captivate open house visitors. Discover the art of truly showing a home, rather than simply standing in the kitchen while potential clients walk in (and out!) the door. Hear the simple secret to capturing client contact information, without seeming like a pushy salesperson, “man talk” versus “woman talk”, and much, much more!

We’re offering this amazing opportunity in support of the Washington REALTORS® and National Association of REALTORS® Open House Weekend, which will be held June 4th and 5th this year. Master all of the insider secrets to a successful open house … then participate in the Open House Weekend by holding your best open house ever!  Public awareness of open houses will be high, and their expectations will be as well. You need to be ready to deliver!

There is no charge for the class; however, if you wish to participate for clock hours a fee of $35 ($40 at the door) will apply.

If you want to create an unforgettable open house experience – one that will generate income for you – you must attend this memorable class. Register Now!

Put on Your Thinking Cap … and Find the Right House to Hold Open!

May 12, 2011

This week, I want to discuss why it’s so important for you to choose the right house for your open house. It’s not just a matter holding an open house because one of your sellers wants you to. I want you to avoid doing that!  Instead of letting the house choose you, you need to choose the house!  And I’m going to tell you exactly how to do that.

First and foremost, not all houses are great candidates for an open house. If a house is in a rural area, or in a physical location that presents challenges, you’ll spend a lot of money on marketing and a lot of wasted time sitting by yourself waiting for buyers to find you. That is not the best use of your resources.

However, when you pick the right house – for the right reasons – you’ll find that your success rate in generating new prospects and clients will increase substantially.

Here are the categories for houses that are great candidates for your next open:

  1. New listings: New listings attract lots of traffic! People love to see what’s new on the market, and they love to be the first one through so they’ve got ‘insider information’ to share with their friends and family. You’ll also get a lot of neighbors who will come by … not only are they just curious about the house, they may be secretly interviewing agents prior to putting their house on the market.
  2. Well-priced listings: You will be amazed at the traffic you will generate when you hold open a well-priced listing. Buyers are amazingly savvy today, and they’re very aware of what constitutes good value. Well-priced listings can bring them out of the woodwork! Savvy buyers will not take the time to visit open houses where the listing price is out of line with the market. (Note: If you have listings that are overpriced, this is a terrific reason to have a serious ‘price-reduction’ conversation with your overly-optimistic sellers.)
  3. Easy-to find-listings: These listings offer a wonderful way to market yourself – and your name – by giving you lots of opportunities for signage. Imagine the marketing impact you’ll have when you place your personalized open house signs in numerous strategic locations. There’s a cumulative benefit to this when you hold open houses on a regular basis, and those houses are on well-traveled routes.
  4. In-demand listings: Do you know what style and price of house is the hottest seller in your market? You will if you search your MLS and track the most recent pendings. One of my coaching clients recently did this and then called me up the next day to say, “I thought I knew my market, Denise. But I clearly didn’t. What I thought was selling well now was actually selling well 6 months ago. But it’s not now! In my market – right now – one-level homes in the $279,000-$299,000 price range are hot. I had no idea!”  It’s critically important that you do your research. Find out what’s in demand right now – and take advantage of that knowledge.
  5. Well-advertised listings: It goes without saying that listings that are advertised well will attract buyers. But listings that are really advertised well — online, in print, and with targeted print mailing — are great candidates for an open house. There is already a buzz about them, so take advantage of that.
  6. Listings with great curb appeal: I call this the “irresistible factor. Who can’t help but want to go into a house that looks absolutely wonderful from the outside? Yes, we’re agents and we’re predisposed to appreciating fabulous curb appeal. But everyone else appreciates it too! When you’re doing research on the right kinds of homes to hold open, do not forget listings that are intriguing from the outside. When a house has ‘wow-factor’ curb appeal, you’ll generate significantly more traffic – which in turn can generate more potential clients.
  7. ‘Where fish are biting’ listings: These homes are the fastest-selling homes in you market. How do you determine this? Again – by doing some targeted MLS research. Find out what the days-on-market statistics are for a particular neighborhood, or within your community. Is there a correlation between a low days-on-market number and a particular price point or style of house? When you can connect these dots, you’ll have a very good idea of which homes are getting buyers to get off the fence and into the market.

Now that you know which houses are the best candidates for an open house, you need to determine how to attract potential buyers (and future sellers) to your open house.

Here are my “Top 5 Traffic Generators

  • Online marketing: The key here is consistency. To build strong traffic, your open house needs to be posted anywhere that open houses in your market are posted – including your personal website and your company website. Additionally, spread your social media net as wide as possible through Facebook and other social media sites. Remember to confirm with your sellers that they are comfortable having you advertise your open houses via social media.
  • Offline marketing: While many agents turn their noses up at print marketing these days, I do not. This can be a very effective method of building open house traffic. There are lots of options based on your market, including newspapers, magazines, trade publications, and community or neighborhood newsletters.
  • Immediate neighbors marketing: You’re missing a real opportunity if you’re not targeting the neighbors! If you normally hold your open house from 1pm-4pm, invite the neighbors over at 12:15pm for a special “neighbors-only” open house. Create an invitation that provides a reason for them to stop by. These could include getting current information on their neighborhood’s 10-year appreciation rate, or perhaps sales ratios and days-on-market statistics. For the neighbors, it’s not about the house as much as it’s about providing them with market knowledge. It’s about articulating your expertise.
  • Move-up buyer ‘radius’ marketing: This is a great way to generate traffic. Choose neighborhoods where the homeowners’ next move up (or down!) would likely be in the price range of your open house.
  • Database marketing: Never forget the value of the people who already know you and trust you – and support your career. List your open houses in your monthly newsletters. Send out an open house schedule via email, with a link to your website’s open house page. (Don’t forget to update this page each week!)

Lastly, I want you to think about open house options – those “outside the box” option that can generate additional traffic.

  1. Saturday versus Sunday open houses: For many people, Sunday is their ‘stay-at-home’ day. They have family activities, laundry, and yard work as priorities. Saturdays often will provide you with much better traffic, since people are already out and about doing errands. With ample signage you can attract a lot of traffic! Try this idea – test it for two or three months to see if that’s the case in your market.
  2. Condensed open houses:  Consider holding two homes open on the same day. It could look like this: House #1 (123 A St) is open from 9am-10am and then again from 1pm-2pm. House #2 (123 B St) is open from 11am-noon and then again from 3pm-4pm. Essentially, you’re increasing your opportunities to get a lot of people through in a short amount of time.
  3. Multi-property open house tour: Pick several houses that meet a particular niche and hold each one open for one hour. You could pick first-time buyer homes. Or waterfront homes. Or equestrian properties. Done strategically, you’ll quickly establish yourself as an expert in that particular niche.
  4. Multi-agent or entire office open house blitz: There’s power in numbers! Gather together a group of agents – or your whole office – and build an open house event.
  5. After-work weekday open house: This is a terrific idea for homes that are on commuter routes, or in neighborhoods that are close to bus stops. Hold an open house at approximately the same time as these folks are headed home. You’d be surprised at how many will stop in for a few minutes.

I’ve just given you a lot of ideas — and things to think about. What I want you to do now is toss your preconceived notions about open houses out the window and start thinking outside the box. Open houses can be an amazingly successful strategy for you — if you pick the right houses, determine how to build traffic, and schedule them to maximize your reach.

Are you a real estate agent working in Washington State?

If so, we want to invite you to attend our “Unforgettable Open House” event on Tuesday, May 24th.

We’ll teach you how to design and conduct a truly unforgettable open house experience. You’ll learn the secret “props” needed for success, and how to captivate open house visitors. Discover the art of truly showing a home, rather than simply standing in the kitchen while potential clients walk in (and out!) the door. Hear the simple secret to capturing client contact information, without seeming like a pushy salesperson, “man talk” versus “woman talk”, and much, much more!

We’re offering this amazing opportunity in support of the Washington REALTORS® and National Association of REALTORS® Open House Weekend, which will be held June 4th and 5th this year. Master all of the insider secrets to a successful open house … then participate in the Open House Weekend by holding your best open house ever!  Public awareness of open houses will be high, and their expectations will be as well. You need to be ready to deliver!

There is no charge for the class; however, if you wish to participate for clock hours a fee of $35 ($40 at the door) will apply.

If you want to create an unforgettable open house experience – one that will generate income for you – you must attend this memorable class.

Polish Your Presentations!

March 24, 2011

Gone are the days when you can simply show up at a listing presentation with data from your MLS that shows comparable homes. Today’s savvy sellers require much more information. They expect an in-depth analysis of their local market. They want a customized marketing plan, tailored to their home and their needs. They want to know they are hiring an expert. And if your listing presentation isn’t one of your most powerful tools, you’re going to lose the listing.

One of my new coaching clients recently shared her frustration with me.  She simply isn’t converting listing appointments into listings.  The questions I asked her were: “Tell me what you have in your listing presentation, and show me what tools you use.”

Before she answered, I knew what the answer would be. Like most agents, she doesn’t have a structured listing presentation. Yes, she prepares a CMA, she has information about herself and about her company, she has sample flyers, and she talks about her website. But very few agents have what I consider a powerful listing presentation.

Here are my ten tips for success at your next listing presentation:

1. Get organized! The better prepared you are, the more confident you will become. Do your research. Prepare your tools. Put everything in order. When you know you are as ready as you need to be, your confidence will come through.

2. Always follow an agenda. Let potential clients know you are organized. Show them that you have a system and that there are important items that must be discussed. When you have an agenda, everyone will be ready for a comprehensive discussion. The beauty of an agenda is two-fold: you won’t forget to cover key issues, and you can involve the sellers by allowing them to determine where they want to begin the discussion.   Their answer will provide you with valuable information about their needs and concerns.

3. Grab a potential client’s attention early. Use visual “props”! Props are simply visual tools, but they are an essential (and often neglected!) ingredient in a powerful listing presentation. I know lots of agents these days think that their laptop is all they really need. While it may seem cool to show your “stuff” on a laptop, even today in our tech-savvy world most people still want something they can see and touch. Visual props will absolutely grab their attention.

4. Have a “toolbox” of props and use them with care. There are five essential categories you must cover in every listing presentation. You need tools for each one, based on what today’s sellers care about. Those five categories are:

a. Price

b. Communication

c. Technology

d. Marketing

e. Photography and Home Presentation

When your toolbox has several tools that cover each of the five essential categories, then you will have the beginning of a powerful listing presentation.

5. Let your clients know how you work. With few exceptions, we humans are not mind readers. We make assumptions based on past experience. Potential sellers may have preconceived notions about how ‘every’ agent works (or doesn’t work, as the case may be). Tell them exactly what you are going to do, when you are going to do it, and what systems you have in place to make sure you do what you say you will do for them.

6. Speak and present to everyone at the appointment.  I cannot tell you the number of times I have observed a listing presentation where the agent focused on one person, and ignored everyone else in the room. It’s natural to focus on the person you have the best rapport with; however, you must focus on others as well.  Part of your success will depend on building rapport with everyone in the room.  Regardless of who the final decision maker might be, you must connect with all parties.

7. Adjust your presentation based on “signals”. Communication is more than just speaking words to each other; body language plays a huge role. If you sense that someone is impatient, you may need to speed up so you don’t frustrate them. If you sense that someone is confused, or is asking a lot of questions, you absolutely have to slow down. A truly good presenter is skilled at reading non-verbal clues, and responding accordingly.

8. Keep your presentation short and to the point. I’m often asked, “But if I have a lot of props, won’t that increase the presentation time?” The answer is a resounding “NO”. It takes less time to explain things when you have visual tools to refer to. Just as illustrations supplement a book, your props will help potential clients understand your point more quickly than words alone.

9. Choose your tools carefully. While I want you to have several tools or props for each category of your listing presentation, I don’t necessarily want you to pull out each and every tool at every listing presentation. You wouldn’t expect a plumber to bring in his entire truck full of tools into your house, just to fix your leaky kitchen sink. Determine ahead of time which tools will be the most appropriate for each presentation, based on factors like the clients’ personality, the market, and the property.

10. Practice makes perfect. I am constantly amazed at how poorly agents present when they’re not prepared. I am equally amazed at how well an agent will present when they are polished, confident and professional. Agents who understand the value of role-play, and who practice their presentation regularly with others, are the agents who will ultimately be hired by a seller.

If you find yourself competing for listings (and who doesn’t!), the way to get hired is to confidently and professionally articulate your value through your listing presentation. Remember this: a powerful presentation will win every time.

This is the first Zebra Report in a 7-part series about successful listing presentations. In the coming weeks I’ll break down each component of a presentation, including Pricing, Communication, Technology, Marketing, and Photography & Home Presentation. I’ll explain exactly what information you must include in your presentation, and what “props” you must have in your tool box. Look for Category 1: Pricing next week!

Ask Denise: Buyers & Foreclosures

March 24, 2011

Q: I’m frustrated because I’ve been working with a buyer who will only look at foreclosures. He believes that’s where the ‘deals’ are. We keep writing low offers, which keep being rejected. I need help convincing him to write an offer the bank will accept … or I have to find a way to convince him to look at listings that are not short sales or foreclosures.  Help!

A:  This is a common question in today’s market. First, you need to explain the reality of the foreclosure market to your buyer. Foreclosures can be immensely complicated because there are so many stakeholders to deal with. The lender is also the property owner. There is a complicated legal process that must be followed. Title companies are often backlogged with the paperwork required by the lender and attorneys. Add all these components to the mix, and you’ve got serious challenges.

Buyers must also understand the time it takes to buy a foreclosure.  Many foreclosures take months and months to close. If your buyer currently has a loan in place with an acceptable interest rate, what will he do if his transaction takes six months to close … and interest rates increase during that time? Will he still be approved to purchase the property?

It’s imperative that you have a frank discussion with your buyer about the benefits and challenges of looking only at foreclosures. Buyers always think foreclosures are a “great deal”. They can also be a great deal of work, are typically accompanied by a great deal of frustration and waiting, and always require a great deal of patience. Make sure your buyer understands, and is comfortable with, all of the challenges before you write any more offers.

Ask Denise: House Flyers

March 17, 2011

Q: With all the talk about high-quality online marketing, do I really still need to provide my sellers with a printed flyer? And if I do, is it better to do a one-page or a two-page flyer?

A:  While your online marketing will attract potential buyers, you absolutely still need printed flyers. There will always be people walking or driving by who want instant information, rather than going home and looking up the information online. They’re clearly interested in your listing and you don’t want to lose them. Additionally, providing very high-quality, two or four page printed flyers says a lot to other potential sellers in the neighborhood about your professionalism.

My bottom line is this: in the sea of ‘average’ agents, you must stand out with both your online presence and your printed materials.

Ask Denise: Holding a Client Appreciation Event

March 3, 2011

Q: “Denise, I’ve never held a client appreciation event, but I know I need to this spring.  Help!  What do I do?”

A: The first thing to do is to ensure that you have secured a small base of key players (and helpers) that you absolutely want to be there.  Make the date at least 60 days from now.  Plan everything. I mean everything – from the biggest detail to the tiniest ones. Your event should come off without a single hitch.

Send “Save the Date” cards immediately. Then, 5 weeks from your event send out an “Invitation” card.  The following week, send out a date and RSVP reminder. Three weeks from your event send out a “Countdown” card that says, “3 weeks to go…” with another RSVP reminder.

You’ll also have far better success with your event if you call each person up personally after the “Invitation” card is sent, to back your invitation up with the sound of your voice telling them how much you want them to be there.

At the event, always have great food and beverages, make sure you lead the show, and make sure everyone is greeted at the door.  Nametags help.  Start on time, and finish on time.  Send a “Thank You” when it’s all over with pictures you took.

Ask Denise: Losing a Buyer

February 24, 2011

Q: I’m a newer agent. Recently I lost a buyer because he called a listing agent whose name was on a yard sign, thinking that only that agent could help him see the house. He ended up writing a contract with her instead of me. Help!

A: It is critical, when dealing with your buyers, to have a frank discussion with them about why calling the listing agent may not be in their best interest. But this has to happen before you ever show them a home. That’s why you have to have a buyer presentation – and a buyer package. Not only do sellers need a presentation – buyers do too!

Buyers might be looking at houses with you every week. However it’s also natural for them to drive by a house with an open house sign in the yard and want to go in. It’s perfectly natural for them to drive by a FSBO and end up talking to the owner working in the yard. It’s normal for them to look at houses online and then drive by. In their minds, they may very well think they’re supposed to call other agents to look at other houses. That’s why it absolutely critical that you educate them on how you work with your buyers and the actions they should take if they wind up face to face with another agent.

If you don’t have a buyer presentation, then create one! If you have one and it’s not effective, then you need to update it.

New from The Lones Group Design Team!

February 11, 2011

A warm, welcoming feeling was at the top of Janet Nation’s “must convey” list when we consulted with her on her branding project. With key words of “approachable” and “genuine”, she insisted on a brand that was not too formal or overly designed. The fireplace, which is a key element of her brand, immediately brings to mind both physical warmth as well as the warmth of the relationships Janet develops with clients.

Whether you want to develop a completely custom brand, or select from one of the amazing designs in our “Instant Image” portfolio, we are here to help.

Interested in learning more about developing your custom branded image? We can help with that too! Please send an email to support@thelonesgroup.com or call us at 360-527-8904 to learn more.

Ask Denise: Targeting Buyers

February 9, 2011

Q: Is there a particular segment of the buyer pool that makes the most sense to target in 2011? I’m thinking about going after Generation X buyers.

A: While today is a great time for Gen Xer’s to buy their first home, I suggest that the target market you should really look at is the Baby Boomer group. Baby Boomers are buying and selling homes at a quicker pace than any other group. They are downsizing so that they can ‘lock and go’ when the mood strikes them. They are buying second homes. They are buying larger homes to accommodate their children who are moving back home, and their parents who need additional care. They are buying investment properties to diversify their financial portfolio. There is no doubt in my mind that – right now – targeting the Baby Boomer generation would be a very wise decision.


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