The real-estate market is constantly changing in their methods on how to look for that right house and property. In a National Association of Realtors (NAR) survey done in 2003, 71% of prospective homebuyers are looking for the dream houses and properties online which is huge increase from 41% in 2001. With the advent of technology, marketing strategies for real-estate properties are also constantly evolving.
To be successful in the real-estate industry, a concrete marketing plan is important. Some people would say that marketing is just like a glossy form of begging or being pushy. Marketing is a way of making prospective clients understand the benefits of having a particular service, in this case, property. Experts would say that the Law of Attraction should be followed when marketing. The Law of Attraction is all about attracting the positive energy, concentrating on what you want.
There are also some great ways marketing tips and strategies which would definitely help real estate agents and investors.
• Maximize the internet. Currently, 87% of homebuyers would search the internet for information. Also a lot of people selling their houses and properties would maximize online advertising. The increasing number of people checking the internet for listings is not the only reason why online marketing works. It is also an inexpensive way of reaching target clients. Emails can be used when communicating with prospective buyers.
• Virtual tours. Conducting virtual tours would help buyers see a glimpse of the house. An agent should be able to produce slide shows with audio description or text that would be able to help buyers visualize themselves in the property. Visibility is important, so include video clips of the homes and even the neighbourhood where they are located. Invite everyone to visit the agent’s website by linking the URL or website address in the email invitations you would be sending out. You could even include it in flyers, advertisements, business cards, postcards, etc.
• Let prospective clients know more about you and your team. In your website, you could include an “about us” section where the team would be introduced. Be sure to include your success rate and experience in this part. Also include ways on how they can contact you. This way, you are making yourself and your team available for their needs.
• Develop or improve your communication skills. An agent would always rely on his or her communication skills when helping potential buyers decide. It is important to let the buyer know how they would benefit from acquiring the property.
• Research and survey. Just because a particular marketing strategy is already working for you, you are not going to check other changes in the market. The trends change, perform closing surveys to get in touch with clients’ needs and demands.
• Give back to the community. Participate in community activities like civic-oriented and other volunteer activities. Aside from that fact that you get to help the community, you’re also making your name public.
There are different methods, a lot of tips which could be used to increase your real-estate success. However, you are the only person who will know what would and would not work for you and your team. It may be a trial and error process, but what is important is that, you get to be a better organization at the end of the day.
Friday, July 23, 2010
Wednesday, July 21, 2010
Beware: Real-Estate Online Scams
Real-estate is among the industries who are stepping up with their online marketing. According to the National Association of Realtors (NAR), about 84% of home buyers and sellers maximize the internet as a marketing strategy. Those who are relying on realty magazines and books and television for selling and hunting homes are decreasing in numbers. Given with this kind of information, realtors cannot disregard the fact that online marketing has become a major force in the industry.
Along with understanding the benefits of marketing online, we should also take a look at the risks posed by online scams and fraudulent activities. According to studies, about $400 billion are lost by U.S. organizations every year because of online scams and fraud. Home buyers and even home sellers are not exempted from these fraudulent activities.
An example of such is when home buyers would see prospect homes listed in both web-classified ads and official real-estate agency websites. The prices have huge discrepancy and those listed in web-classified ads tend to cost less. Attracting more clients, home buyers would later find out that it is not an official sell at all. They lose money and at the same time, possible property acquisition.
How do we avoid or identify such scams? Usually, those who are claiming to be the owners of a property up for sale or rent would say that they are out of the country. If you are renting a home, they would ask for an advanced payment which could be deposited or sent through check. Never pay or provide money for any property that you have not yet seen. Some real-estate scammers would be able to show you a property, however, remain cautious and do some research first on the property before proceeding with any kind of payment. Usually, a search on Google using the phone number will lead you to suspicious information.
A seller could also experience fraud. An interested “buyer” would send an email and ask about the seller’s property. They would usually ask details about the home. As a seller, you should check other web-classified ads. It is not unusual for seller to find their own property listed there by another person.
Stealing a person’s identity is another major online problem. If you are registered in a firm, there is a possibility that other people/lenders would be able to pull up your information. There are also some “agencies and firms” that would solicit membership. Before joining, verify if the firm or agency is legitimate. They may only be using your personal information for their own transactions.
To protect yourself against real-estate scams, never provide any kind of personal and financial information to individuals or organizations that would send you emails asking for it. Verify the information provided by the person you are dealing with. Scammers would usually send checks to give an impression that they are indeed making payments. You could ask the bank and have the check verified.
But the best thing that could help you avoid such problems is by getting a real-estate agent or a mentor to help you out. Mistakes in real-estate happen because beginners or even those who are already in the business for while, would forget to talk to others and ask for advice.
Along with understanding the benefits of marketing online, we should also take a look at the risks posed by online scams and fraudulent activities. According to studies, about $400 billion are lost by U.S. organizations every year because of online scams and fraud. Home buyers and even home sellers are not exempted from these fraudulent activities.
An example of such is when home buyers would see prospect homes listed in both web-classified ads and official real-estate agency websites. The prices have huge discrepancy and those listed in web-classified ads tend to cost less. Attracting more clients, home buyers would later find out that it is not an official sell at all. They lose money and at the same time, possible property acquisition.
How do we avoid or identify such scams? Usually, those who are claiming to be the owners of a property up for sale or rent would say that they are out of the country. If you are renting a home, they would ask for an advanced payment which could be deposited or sent through check. Never pay or provide money for any property that you have not yet seen. Some real-estate scammers would be able to show you a property, however, remain cautious and do some research first on the property before proceeding with any kind of payment. Usually, a search on Google using the phone number will lead you to suspicious information.
A seller could also experience fraud. An interested “buyer” would send an email and ask about the seller’s property. They would usually ask details about the home. As a seller, you should check other web-classified ads. It is not unusual for seller to find their own property listed there by another person.
Stealing a person’s identity is another major online problem. If you are registered in a firm, there is a possibility that other people/lenders would be able to pull up your information. There are also some “agencies and firms” that would solicit membership. Before joining, verify if the firm or agency is legitimate. They may only be using your personal information for their own transactions.
To protect yourself against real-estate scams, never provide any kind of personal and financial information to individuals or organizations that would send you emails asking for it. Verify the information provided by the person you are dealing with. Scammers would usually send checks to give an impression that they are indeed making payments. You could ask the bank and have the check verified.
But the best thing that could help you avoid such problems is by getting a real-estate agent or a mentor to help you out. Mistakes in real-estate happen because beginners or even those who are already in the business for while, would forget to talk to others and ask for advice.
Monday, July 19, 2010
Real-Estate Secrets: Selling Your Home Fast
Real-estate market is competitive. With the recent downfall in the economy, an increase in the number of houses and properties up for sale was witnessed by the country. But the economy is starting to recover. According to the 2009 Mortgage Choice First Homebuyers survey, the number of people who are in the position to purchase new homes has increased in 19%.
If you have decided to put your house on sale, then it could be a sad and painful experience seeing it remain unsold for a while. Real estate agents and experts recommend few things that will surely help in making your house and property noticed.
• Hiring a good agent.
A good real-estate agent, would help in selling your house fast. Of course, it would mean that you would be giving commission to the agent when the sale is concluded. But real-estate agents would have enough contacts and tools that could be used creatively to clinch to deal. When choosing an agent, make sure to check their references, background, and experience. An agent should have knowledge about your neigborhood and its market history.
• Name a good price.
Price is always important, it could either make or break the sale of your home. Your real estate agent should have an idea on what would be the appropriate price for your house and the price range in the location. A house which is too expensive may push away prospective clients while a very low price may raise some questions on the credibility of the property. You could ask your agent to do a comparable market analyses (CMA) to get an idea on how much were the houses in your area sold for.
• De-clutter
People would want to visit and live in a nice home, not a messy one. Remove clutter and tidy up. Put away things that are not frequently used. If potential buyers are coming over to check the house, it is to put away photos from walls and shelves. Potential buyers are not interested in looking at your holiday pictures, they are more interested in picturing themselves in your lovely home. Make your house look more spacious by getting rid of unnecessary furniture, clearing out cabinets, and removing items on top of tables and shelves.
• Home staging
Home staging is another aspect on real-estate marketing. A home seller could get a home stager, the real-estate agent may offer similar services or the sellers could learn how to stage their space for buyers. Home staging is about redesigning or arranging furniture around the home to make it more neutral, homey and comfortable for the clients. Home staging would be able to help the clients picture themselves in the house and eventually purchase it.
• Fix things
You could fix minor problems in the house like broken faucets or window treatments. Take note of these problems when you check your house. It would indeed take time and effort, but would be worth it. Simple home improvement repairs could just be small things but buyers would be able to notice them.
• Leave the house
When prospective clients will visit your house, it is better not to be there. Of course, you would like to make people see how great the house is, but it would be uncomfortable for both buyer and seller. Buyers would not be able to talk to the agents about their real opinion of the real estate and property. Aside from that, buyers would be able to ask questions freely, if the owner is not present.
If you have decided to put your house on sale, then it could be a sad and painful experience seeing it remain unsold for a while. Real estate agents and experts recommend few things that will surely help in making your house and property noticed.
• Hiring a good agent.
A good real-estate agent, would help in selling your house fast. Of course, it would mean that you would be giving commission to the agent when the sale is concluded. But real-estate agents would have enough contacts and tools that could be used creatively to clinch to deal. When choosing an agent, make sure to check their references, background, and experience. An agent should have knowledge about your neigborhood and its market history.
• Name a good price.
Price is always important, it could either make or break the sale of your home. Your real estate agent should have an idea on what would be the appropriate price for your house and the price range in the location. A house which is too expensive may push away prospective clients while a very low price may raise some questions on the credibility of the property. You could ask your agent to do a comparable market analyses (CMA) to get an idea on how much were the houses in your area sold for.
• De-clutter
People would want to visit and live in a nice home, not a messy one. Remove clutter and tidy up. Put away things that are not frequently used. If potential buyers are coming over to check the house, it is to put away photos from walls and shelves. Potential buyers are not interested in looking at your holiday pictures, they are more interested in picturing themselves in your lovely home. Make your house look more spacious by getting rid of unnecessary furniture, clearing out cabinets, and removing items on top of tables and shelves.
• Home staging
Home staging is another aspect on real-estate marketing. A home seller could get a home stager, the real-estate agent may offer similar services or the sellers could learn how to stage their space for buyers. Home staging is about redesigning or arranging furniture around the home to make it more neutral, homey and comfortable for the clients. Home staging would be able to help the clients picture themselves in the house and eventually purchase it.
• Fix things
You could fix minor problems in the house like broken faucets or window treatments. Take note of these problems when you check your house. It would indeed take time and effort, but would be worth it. Simple home improvement repairs could just be small things but buyers would be able to notice them.
• Leave the house
When prospective clients will visit your house, it is better not to be there. Of course, you would like to make people see how great the house is, but it would be uncomfortable for both buyer and seller. Buyers would not be able to talk to the agents about their real opinion of the real estate and property. Aside from that, buyers would be able to ask questions freely, if the owner is not present.
Saturday, July 17, 2010
Real-Estate Secrets: What Homebuyers Should Avoid
Beginners in real-estate investing and first time homebuyers would often experience blunders when they look for houses to purchase. To avoid such frightful experience, which could lead to loss of time, effort and even worse your money; you would have to learn what common mistakes are made in real-estate and how to avoid them.
• Lack of research
When buying properties and houses, you would have to go back to the basics: which is doing some research before proceeding with any kind of purchase. Research is basically asking questions about the house or the property. You could ask questions similar to the following to have an idea about the property:
a. Reasons for putting the property on sale
b. Any problems about the house’s foundation that needs to be addressed.
c. If the former owners have paid for the house and the methods of payment.
d. If there are any problems in the area where the house and property is located like being near a flood zone, termite problems, etc.
e. If there are any problems in town area.
• Not considering the bidding and maintenance cost
Your research would also include the price. It is a common scenario when a buyer would tend to offer a higher price for a property that would fit their needs and demands. Before bidding for a property, search for similar houses in the area and how much were the sold in the last few months. It is better to look at houses and properties that were already sold than those houses still up for negotiations or sale. Buyers should bid consistently with the other houses’ prices.
Aside from the upfront price of the house or property, buyers would also forget to factor in the maintenance cost of the house. Without considering the maintenance cost, homebuyers would often find themselves buried in debts. Real-estate investors should always keep the expenses in mind when buying property. Since the cost of improving the home would definitely have an impact how they would price their house. Having the home inspected could put a dent on your bank account, but never sacrifice it. Always get a good home inspector even if it means you would be spending more
• Too much waiting
There is nothing wrong with waiting for the right house but a homebuyer should be realistic. It is difficult to find for a home that would fit 100% with their needs and demands. Homebuyers who are looking for homes with this method would usually by pass homes that would be meeting nearly all of their standards. Usually, homebuyers who wait around for their perfect homes would not notice that the cost of purchasing properties is constantly increasing. To avoid this, it is important to sort out priorities. Identify the top needs that should be provided for a prospective home.
• Without any professional assistance
Another mistake that most homebuyers make is that they think can get a house on their own. There is nothing wrong with buying property and house without any professional help. It is just that it could be very stressful and would take much of your time. Real-estate agents have the resources, contacts, and tools that would be able to help make the search quicker. Aside form the real-estate agent, if you’re planning on investing on this industry then you would also need a home inspector, a lawyer and an insurance representative.
• Lack of research
When buying properties and houses, you would have to go back to the basics: which is doing some research before proceeding with any kind of purchase. Research is basically asking questions about the house or the property. You could ask questions similar to the following to have an idea about the property:
a. Reasons for putting the property on sale
b. Any problems about the house’s foundation that needs to be addressed.
c. If the former owners have paid for the house and the methods of payment.
d. If there are any problems in the area where the house and property is located like being near a flood zone, termite problems, etc.
e. If there are any problems in town area.
• Not considering the bidding and maintenance cost
Your research would also include the price. It is a common scenario when a buyer would tend to offer a higher price for a property that would fit their needs and demands. Before bidding for a property, search for similar houses in the area and how much were the sold in the last few months. It is better to look at houses and properties that were already sold than those houses still up for negotiations or sale. Buyers should bid consistently with the other houses’ prices.
Aside from the upfront price of the house or property, buyers would also forget to factor in the maintenance cost of the house. Without considering the maintenance cost, homebuyers would often find themselves buried in debts. Real-estate investors should always keep the expenses in mind when buying property. Since the cost of improving the home would definitely have an impact how they would price their house. Having the home inspected could put a dent on your bank account, but never sacrifice it. Always get a good home inspector even if it means you would be spending more
• Too much waiting
There is nothing wrong with waiting for the right house but a homebuyer should be realistic. It is difficult to find for a home that would fit 100% with their needs and demands. Homebuyers who are looking for homes with this method would usually by pass homes that would be meeting nearly all of their standards. Usually, homebuyers who wait around for their perfect homes would not notice that the cost of purchasing properties is constantly increasing. To avoid this, it is important to sort out priorities. Identify the top needs that should be provided for a prospective home.
• Without any professional assistance
Another mistake that most homebuyers make is that they think can get a house on their own. There is nothing wrong with buying property and house without any professional help. It is just that it could be very stressful and would take much of your time. Real-estate agents have the resources, contacts, and tools that would be able to help make the search quicker. Aside form the real-estate agent, if you’re planning on investing on this industry then you would also need a home inspector, a lawyer and an insurance representative.
Thursday, July 15, 2010
Tips In Real-Estate Negotiations
Negotiations in real-estate deals is all about compromising and agreeing in order to close a transaction. When negotiating, the negotiator should know the needs of the client. Legal knowledge is important, since the negotiator should be able to identify the legal processes that could be done to achieve the client’s needs. Negotiators are usually real-estate lawyers, although real-estate agents would also negotiate for their clients.
To get successful negotiation results, it is important to be informed, prepared and set realistic goals or objectives. If you are a buyer and you have come across a house you are willing to buy, then you would have to be properly informed on how much the property would cost. You could ask your agent to compare it similar properties which are already sold. This is called Comparable Market Analyses or CMA. In CMA, the condition, size, number of rooms of both houses would be compared.
After being informed, then you would have to prepare for the negotiation. You could start by setting a realistic amount of money you are willing to spend on the property. When making decisions about buying or selling a home, never let your emotions get ahead of you. Follow and execute the plan.
There are different real-estate negotiation tips that would make both the buyer and seller satisfied.
• You start with an offer that you know that they would not be able to refuse and not a quote that would make them angry or rolling in laughter. When presenting the offer, make sure that you or the negotiator would state what and how both parties would benefit from the deal.
• It is normal that the opposite party would ask questions and state their expectations, be confident when answering. Be cool and calm, even if the arguments are pushing you on your wit’s end. Present the answers in a way that would help them see that they have a way of getting out of the deal.
• You do not have to say or show how desperate you are to purchase the property. If you would like to convince the other party to give-in, don’t overreact with the offers or quotations or try bluffing with the other party. Be straightforward with your win-win solution and be prepared to counter their arguments. Look for loopholes and weaknesses which would help turn the table around.
• Be realistic. Do not overprice nor underprice. Usually, a buyer would have to spend a little more than what you are willing to, to get the house and the property that they would like to have. Asking for a very low price is like an insult to the person who is selling the property.
• When starting with the negotiations, it is better to correspond with written documents. Oral commitments cannot stand or are not duly recognized as a binding agreement by some states.
• When negotiation, do not fret over small details. There are negotiations called of because of small issues that could easily be dealt with. If the transaction would not push through, then major things should be credited with the failure.
In real estate negotiations, it is compromise that would work and enable both parties to close the deal. Both parties could start with the points that they both agree on and deal with the differences later. Sharing a common ground makes it easier for both parties to come up with win-win solutions.
To get successful negotiation results, it is important to be informed, prepared and set realistic goals or objectives. If you are a buyer and you have come across a house you are willing to buy, then you would have to be properly informed on how much the property would cost. You could ask your agent to compare it similar properties which are already sold. This is called Comparable Market Analyses or CMA. In CMA, the condition, size, number of rooms of both houses would be compared.
After being informed, then you would have to prepare for the negotiation. You could start by setting a realistic amount of money you are willing to spend on the property. When making decisions about buying or selling a home, never let your emotions get ahead of you. Follow and execute the plan.
There are different real-estate negotiation tips that would make both the buyer and seller satisfied.
• You start with an offer that you know that they would not be able to refuse and not a quote that would make them angry or rolling in laughter. When presenting the offer, make sure that you or the negotiator would state what and how both parties would benefit from the deal.
• It is normal that the opposite party would ask questions and state their expectations, be confident when answering. Be cool and calm, even if the arguments are pushing you on your wit’s end. Present the answers in a way that would help them see that they have a way of getting out of the deal.
• You do not have to say or show how desperate you are to purchase the property. If you would like to convince the other party to give-in, don’t overreact with the offers or quotations or try bluffing with the other party. Be straightforward with your win-win solution and be prepared to counter their arguments. Look for loopholes and weaknesses which would help turn the table around.
• Be realistic. Do not overprice nor underprice. Usually, a buyer would have to spend a little more than what you are willing to, to get the house and the property that they would like to have. Asking for a very low price is like an insult to the person who is selling the property.
• When starting with the negotiations, it is better to correspond with written documents. Oral commitments cannot stand or are not duly recognized as a binding agreement by some states.
• When negotiation, do not fret over small details. There are negotiations called of because of small issues that could easily be dealt with. If the transaction would not push through, then major things should be credited with the failure.
In real estate negotiations, it is compromise that would work and enable both parties to close the deal. Both parties could start with the points that they both agree on and deal with the differences later. Sharing a common ground makes it easier for both parties to come up with win-win solutions.
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