If I had any hair, I think I might just have pulled each follicle one at a time. Pluck...Pluck...Pluck!
I've just spent the last month and a half in the arms of the holiday season and I can't see past the remote. Worse yet, my sweet little 50lb lap dog, one of the love's of my life, is starting to get on my ever lasting nerve.
Let me back up a bit...the nerve's started to unwind a few days ago and this morning, they were at the end of my non split end hairs. But, alas, it was a good day to see my mentor. If there was anyone in my life outside of my wife that keeps me grounded and skating straight, it's her.
As always, she tried to give me a bit of tough love. It would have worked about ten years ago, but knowing what I know now, it has little effect. She's not the drill sergent type, nor would I be using her if she were.
What she does do is to get me to refocus on what I need to do as a Realtor. I need to get some listings and some buyers and some listings and some......
My problem is I have the holiday blahs. I was okay to use the holidays on an excuse not to seek out clients. I have some that are in the pipe, but in the mean time, what do I need to do. That was the question. And the answer was...I need to get some! Some...some...some...
That's about as far as I got when the light went off! Okay...maybe it wasn't the light, but my mentor. Hey...by the way, her name is Allison. So, she says, "What do you need to do to get some clients"? Then she say's, "This is the Tough Love part. Is it too rough"? I say, "NO!" "You do what you need to do! I understand."
So, what is it that I need to do to get out of the Holiday Blah Blues? First off, I need to get myself back on a schedule. Then I need to start treating this JOB as a JOB. Clients will not be climbing into my office windows. They won't even know where that window is, unless lead them to it. I need to get out there and get a little uncomfortable! That's her words. And, believe it or not, they need to be mine!
How do I get uncomfortable? Why would I want to?
This is where I draw myself a glass of wine and really get on myself! I need to get uncomfortable for my self growth. If I don't, I will not move past doing those things that I really hate to do. Such as, cold call! Not in the true sense of cold call though. I will have a reason and a focus, but that will be the easiest way to kick start my motor.
So...thanks to my meeting this morning with Allison, I will start getting uncomfortable. Unless I'm willing to pay someone else to do that part for me, I'm going to have to do it myself. And believe me, I spend enough already.
So, here's to a little wine and a lot of understanding by my wife and a whole lot of combat boot ass kicking by Allison.
Get out there and get the enemy before they get you! Or is that me?
Either way, no more blaming the holidays....it's all on me baby!
Next time....see ya from Texas!
Friday, January 4, 2008
Monday, December 31, 2007
Overpriced Markets
I'm sure that by the time you read this, you will have seen 2007 in the rear view mirror. But, I still wanted to wish each of you a Happy New Year with many things prosperous, whether it be in health, finances or spirituality.
When we move into a new year, we always seem to take this time to look back on the happenings of the previous year. In this case, it would be 2007.
For me, my first thought to reflect back came on December 30th, 2007. I sat down in the evening and finally took the time to look over the days newspaper. As I perused this Sunday paper, I caught myself going through more than my normal sections of Sports, Business and Life sections. I turned over page after page until a headline caught my attention.
Lo and behold (I love using that phrase, it makes me feel like I’m in the country), I come across an article on Real Estate in London. The headline was, “U.K. feeling heat of U.S. Subprime Meltdown”. The reason this headline caught my eye was my feelings that this was just another negative article written about the decline of the housing market that we constantly get bombarded with.
If you recall in my December newsletter, the Subprime market is not the issue keeping the housing market in an uproar. So, what is the cause then you ask? Ahem….I first need to clear my throat and then I need a moment to get up on my soapbox.
Okay...here goes! First off, (note: this is just my opinion) human nature has a very greedy side to it. This is not bad and this is not good. It is just a fact. We all would like to have more of what we have and in most cases, more of what we don’t have that appears to be what we want. Now, before you get a chance to say, “What is he talking about”, I will be more than happy to include myself in this very group. In fact, if you would like, you can even make me the sole member of this group.
Now, back to the point. Yes, we all seem to want more and more and the case can be shown in the housing market. Let me ask a question. Do you want to have your home rise in value? I do! And the faster it rises, the happier I will be (except for the increase in property taxes). But, is this reasonable?
First off, what makes the value of property rises in the first place? Does it just happen on it’s own? Can you force it to happen? Will it happen whether you like it or not? No is my answer to all these questions. What makes a property rise in value is the same thing you learn in economics. Supply and demand. The more people covet an item, the more opportunity there is for someone to make a buck. You only have to look back a few years to the Elmo craze to see this happen. When something is in short supply and the demand is high, the amount that will be asked for it will be way above it’s intended value.
Now, for a brief moment, I would like to take a look at the article on the U.K. Subprime Meltdown. As I read further down in the first paragraph, I come across the real story in the story. It is about a former storage room the size of a walk-in closet that is on the market for $335,000. The total size is 77 square feet (I would like to see where the couch and bed go) and it has neither electricity or functional heating that will have to be added for approx $59,000 more. For a grand total to move in of $394,000.
After I do the long division, the total per square foot is $5,117. WOW! Can you imagine standing in one spot in this soon to be apartment and looking down realizing that you are standing on a $5,000 piece of square. After doing these numbers, I wondered how much my own home would be worth if it were that much per square foot and I could get $14,066,250 for this place. My best guess is that I would be priced not only out of my home, but out of buying at all.
Not buying at all? Would that hurt the market place? You bet it would! I seem to recall that the largest group in America is the middle class. What would happen to America if the middle class were unable to purchase homes in America? You would have little movement of cash. Goods would be unable to be sold. The economy would be stale, the unemployment rate would rise and those that had purchased when the economy was moving well, would now be unable to keep their payments going. This would put more loans in default, more folks on the street, more homes in the inventory and you can probably guess it would also start the market dropping or what the media happily call, “A RECESSION”!
What does it take to keep our markets strong? What can you do as an individual? First off, when you are buying or selling, think about fairness on both sides. Are you gouging your buyers or are YOU allowing yourself to be gouged. A few years back, I was doing a cost estimate on what it would cost for a family of two adults and four children to go to a basketball game. After looking at parking, tickets (middle of the arena) and refreshments, the cost came out to an easy $200. That would be $200 for three hours of entertainment or $66 an hour. Now, as a middle class American, I don’t think I would pay this amount for anything, but many folks do. And those that sale the entertainment realize that due to our greediness to be in the midst of greatness (that’s subjective), then they can charge what the want, because if one doesn’t want it, another will.
If we are lucky, the “Blown Out of Proportion” housing market that is being seen in city’s like London, New York, San Francisco, Los Angeles and Miami will come back down to REALITY and the U.S. and the economy of the world can breath a bit more in 2008.
Happy New Year 2008!
When we move into a new year, we always seem to take this time to look back on the happenings of the previous year. In this case, it would be 2007.
For me, my first thought to reflect back came on December 30th, 2007. I sat down in the evening and finally took the time to look over the days newspaper. As I perused this Sunday paper, I caught myself going through more than my normal sections of Sports, Business and Life sections. I turned over page after page until a headline caught my attention.
Lo and behold (I love using that phrase, it makes me feel like I’m in the country), I come across an article on Real Estate in London. The headline was, “U.K. feeling heat of U.S. Subprime Meltdown”. The reason this headline caught my eye was my feelings that this was just another negative article written about the decline of the housing market that we constantly get bombarded with.
If you recall in my December newsletter, the Subprime market is not the issue keeping the housing market in an uproar. So, what is the cause then you ask? Ahem….I first need to clear my throat and then I need a moment to get up on my soapbox.
Okay...here goes! First off, (note: this is just my opinion) human nature has a very greedy side to it. This is not bad and this is not good. It is just a fact. We all would like to have more of what we have and in most cases, more of what we don’t have that appears to be what we want. Now, before you get a chance to say, “What is he talking about”, I will be more than happy to include myself in this very group. In fact, if you would like, you can even make me the sole member of this group.
Now, back to the point. Yes, we all seem to want more and more and the case can be shown in the housing market. Let me ask a question. Do you want to have your home rise in value? I do! And the faster it rises, the happier I will be (except for the increase in property taxes). But, is this reasonable?
First off, what makes the value of property rises in the first place? Does it just happen on it’s own? Can you force it to happen? Will it happen whether you like it or not? No is my answer to all these questions. What makes a property rise in value is the same thing you learn in economics. Supply and demand. The more people covet an item, the more opportunity there is for someone to make a buck. You only have to look back a few years to the Elmo craze to see this happen. When something is in short supply and the demand is high, the amount that will be asked for it will be way above it’s intended value.
Now, for a brief moment, I would like to take a look at the article on the U.K. Subprime Meltdown. As I read further down in the first paragraph, I come across the real story in the story. It is about a former storage room the size of a walk-in closet that is on the market for $335,000. The total size is 77 square feet (I would like to see where the couch and bed go) and it has neither electricity or functional heating that will have to be added for approx $59,000 more. For a grand total to move in of $394,000.
After I do the long division, the total per square foot is $5,117. WOW! Can you imagine standing in one spot in this soon to be apartment and looking down realizing that you are standing on a $5,000 piece of square. After doing these numbers, I wondered how much my own home would be worth if it were that much per square foot and I could get $14,066,250 for this place. My best guess is that I would be priced not only out of my home, but out of buying at all.
Not buying at all? Would that hurt the market place? You bet it would! I seem to recall that the largest group in America is the middle class. What would happen to America if the middle class were unable to purchase homes in America? You would have little movement of cash. Goods would be unable to be sold. The economy would be stale, the unemployment rate would rise and those that had purchased when the economy was moving well, would now be unable to keep their payments going. This would put more loans in default, more folks on the street, more homes in the inventory and you can probably guess it would also start the market dropping or what the media happily call, “A RECESSION”!
What does it take to keep our markets strong? What can you do as an individual? First off, when you are buying or selling, think about fairness on both sides. Are you gouging your buyers or are YOU allowing yourself to be gouged. A few years back, I was doing a cost estimate on what it would cost for a family of two adults and four children to go to a basketball game. After looking at parking, tickets (middle of the arena) and refreshments, the cost came out to an easy $200. That would be $200 for three hours of entertainment or $66 an hour. Now, as a middle class American, I don’t think I would pay this amount for anything, but many folks do. And those that sale the entertainment realize that due to our greediness to be in the midst of greatness (that’s subjective), then they can charge what the want, because if one doesn’t want it, another will.
If we are lucky, the “Blown Out of Proportion” housing market that is being seen in city’s like London, New York, San Francisco, Los Angeles and Miami will come back down to REALITY and the U.S. and the economy of the world can breath a bit more in 2008.
Happy New Year 2008!
Thursday, December 13, 2007
How is the market doing?
It seems like everytime we turn the newspaper or the news channel, there is talk about how bad the housing market is. Seems like everyone is blaming the woes of the American Housing Market on Sub-prime loans.
The problem is not so much that there are sub-prime mortgages going into default, but the way we are perceiving them and how we as buyers and sellers react to them.To put this into place...look at the Real Foreclosure story:
The REAL Foreclosure Story…
A lot of people are nervous about what they are reading in the newspaper and hearing on TV. But how can you blame them? The media is bombarding people with reports about the housing decline and the sub-prime mortgage mess.
However, Chief ECONOMIST for the National Mortgage Bankers Association, Doug Duncan decided last week to set the record straight. In a private conversation, Doug said that people have nothing to worry about in Texas.
Some of his defenses were...
· The foreclosure problem in this country is really a story about 7 states
· The biggest foreclosure problem is in Michigan, Ohio and Indiana. These are predominantly manufacturing states
· Since 2001, Michigan has lost 300,000+ jobs
· The other 4 states are California, Florida, Arizona and Nevada. In each of these states there has been significant overbuilding. 25% of the foreclosures in these states are on properties that are held by investors who were speculating
· California & Florida have been hit very hard
· 35% of the homes in the USA do not have a mortgage
· 98% of the mortgages in the USA are performing
· Only 9% of all mortgages are sub-prime
· 75% of all sub-prime mortgages are performing
· In the other 43 states, foreclosures have fallen in 2007 from 2006
Right now, our local inventory levels are half the national average and well-priced homes are selling fast. You cannot expect this type of factual information to be distributed by the news media channels. We have to be telling folks this story.
Help us spread the word...
The problem is not so much that there are sub-prime mortgages going into default, but the way we are perceiving them and how we as buyers and sellers react to them.To put this into place...look at the Real Foreclosure story:
The REAL Foreclosure Story…
A lot of people are nervous about what they are reading in the newspaper and hearing on TV. But how can you blame them? The media is bombarding people with reports about the housing decline and the sub-prime mortgage mess.
However, Chief ECONOMIST for the National Mortgage Bankers Association, Doug Duncan decided last week to set the record straight. In a private conversation, Doug said that people have nothing to worry about in Texas.
Some of his defenses were...
· The foreclosure problem in this country is really a story about 7 states
· The biggest foreclosure problem is in Michigan, Ohio and Indiana. These are predominantly manufacturing states
· Since 2001, Michigan has lost 300,000+ jobs
· The other 4 states are California, Florida, Arizona and Nevada. In each of these states there has been significant overbuilding. 25% of the foreclosures in these states are on properties that are held by investors who were speculating
· California & Florida have been hit very hard
· 35% of the homes in the USA do not have a mortgage
· 98% of the mortgages in the USA are performing
· Only 9% of all mortgages are sub-prime
· 75% of all sub-prime mortgages are performing
· In the other 43 states, foreclosures have fallen in 2007 from 2006
Right now, our local inventory levels are half the national average and well-priced homes are selling fast. You cannot expect this type of factual information to be distributed by the news media channels. We have to be telling folks this story.
Help us spread the word...
Saturday, September 22, 2007
Health and Real Estate
Have you ever rushed out of the house and as you were driving down the road, realized that you forgot to eat? Doesn't make it easy when you are leaving at noon.
Let's throw in another glitch. How about that happening and you are on your way to meet with a new client? The question is, do I go through a drive through and grab something that will stick to my ribs and my teeth or do I just tough it out?
You are not doing yourself a favor by toughing it out. Especially if you are a diabetic like me. Sometimes, you need to just stop and get something to eat.
The best advice I could give you is to either keep something with you like health bars to keep you going or call your client and apologize for being late. I personally would rather apologize than to pass out in front of them.
This brings up a thought, be honest with your clients in all things. This will come back to you in many blessings. I would rather be honest and have a client that understands than a client that is unreasonable.
So, when planning your day, plan also a time to eat and don't get caught on the low end of carb low.
And, if you need some information about some good bars to keep with you, let me know or go to http://www.nonodiabetes.usana.com/
Thursday, September 6, 2007
Always give respect to Real Estate...
Here's a good one. I've run into RUDE and unscrupulous Real Estate Agents!!!!
Yep, everything you learned about integrity being at the highest degree during training is not 100% true.
This doesn't mean that all of them are that way. I guess you would also have to define what your definition of Rude and Unscrupulous is.
Let me tell you the story...rude on first.
I was looking for a home for my wife and I. You could say that my wife is the most difficult buyer that I have come across. She told me what she wanted in a home and I went at it in search. We finally agreed to purchase this cute little bungalow out in Circle C.
After we put in the offer, my wife had a change of heart. It was not the one she thought she wanted. It was in the neighborhood she wanted, the look she wanted, the number of stories (1) she wanted. The only problem is that the back yard was too visible to the other neighbors. She felt like they would be on top of her.
So, being the Real Estate Agent I was, I contacted the selling agent and pulled back the offer. I guess you could say that he was not at all happy with this action and you could hear it in his voice.
Let me tell you first off, if you do not have a final signature with a date of agreement on the contract, "There IS NO contract". Sure, this would put me in a "Darn" mode, but it is the nature of Real Estate.
All I can say is to expect things to change. Do not be rude to other agents...you never know when you are going to be sitting across the computer from them in the future and be negotiating. I can already tell you there are agents that I would prefer not to sit across from or even to share the same title of Realtor with, but that happens.
Another quick issue is that of responding to calls and e-mails. I have contacted other agents (usually the so-called maga agents) and am still waiting for some of them to get back to me. Do the business a favor and reply to all contacts that need your input. Makes it easier for business to continue. Plus, it is in the best interest of clients.
Now, how about the other word....unscrupulous!!!
I know this is a rough word, but it's the only way I can say it. So, here goes.
I was showing this one home that was an open house. The selling agent was very nice and I suspect that the other lady with her might have been the seller. Possibly a sister thing. Well, we looked and it was not a choice of my buyers.
About a week later, I was contacted about this home. I was told that if my buyer was interested, I might want to have them make an offer. The reason was that she was expecting another offer at any moment and wanted my buyer to have a chance.
Was I being told the truth? Not sure, but the house was still active for about the next month as I watched it.
This being said, don't try this tactics at home. It makes the business of Real Estate look ugly and gives us that are trying to do the right thing a bad name.
Don't help Realtor's get grouped in with the likes of Car Salesmen. Be truthful and by all means, BE HONEST!!!
Happy Selling....and buying.
Yep, everything you learned about integrity being at the highest degree during training is not 100% true.
This doesn't mean that all of them are that way. I guess you would also have to define what your definition of Rude and Unscrupulous is.
Let me tell you the story...rude on first.
I was looking for a home for my wife and I. You could say that my wife is the most difficult buyer that I have come across. She told me what she wanted in a home and I went at it in search. We finally agreed to purchase this cute little bungalow out in Circle C.
After we put in the offer, my wife had a change of heart. It was not the one she thought she wanted. It was in the neighborhood she wanted, the look she wanted, the number of stories (1) she wanted. The only problem is that the back yard was too visible to the other neighbors. She felt like they would be on top of her.
So, being the Real Estate Agent I was, I contacted the selling agent and pulled back the offer. I guess you could say that he was not at all happy with this action and you could hear it in his voice.
Let me tell you first off, if you do not have a final signature with a date of agreement on the contract, "There IS NO contract". Sure, this would put me in a "Darn" mode, but it is the nature of Real Estate.
All I can say is to expect things to change. Do not be rude to other agents...you never know when you are going to be sitting across the computer from them in the future and be negotiating. I can already tell you there are agents that I would prefer not to sit across from or even to share the same title of Realtor with, but that happens.
Another quick issue is that of responding to calls and e-mails. I have contacted other agents (usually the so-called maga agents) and am still waiting for some of them to get back to me. Do the business a favor and reply to all contacts that need your input. Makes it easier for business to continue. Plus, it is in the best interest of clients.
Now, how about the other word....unscrupulous!!!
I know this is a rough word, but it's the only way I can say it. So, here goes.
I was showing this one home that was an open house. The selling agent was very nice and I suspect that the other lady with her might have been the seller. Possibly a sister thing. Well, we looked and it was not a choice of my buyers.
About a week later, I was contacted about this home. I was told that if my buyer was interested, I might want to have them make an offer. The reason was that she was expecting another offer at any moment and wanted my buyer to have a chance.
Was I being told the truth? Not sure, but the house was still active for about the next month as I watched it.
This being said, don't try this tactics at home. It makes the business of Real Estate look ugly and gives us that are trying to do the right thing a bad name.
Don't help Realtor's get grouped in with the likes of Car Salesmen. Be truthful and by all means, BE HONEST!!!
Happy Selling....and buying.
Saturday, August 25, 2007
Action is everything
I am currently listening to one of my favorite books. It is titled "Goals", written by Brian Tracy. For a long time, I resisted listening to someone who looked "SO" Corporate. For this reason, I feel that I had held myself back because of my previous beliefs.
One of the things he states is that, "the source of fear is childhood conditioning, usually destructive criticism from one or both parents".
I like to take this a little further. Simply put, it is not always the parents that cause this childhood conditioning. It could be your peers, your siblings, family friends and members or just someone you encounter as you grow up.
I expand on this from my own experiences that shaped my first year as a new Agent. I recall being a little boy and not wanting to leave my mother as she dropped us off at a Carnival. I wanted to go, but I was afraid of the clowns. With a lot of persuasion, I was able to get my mother to take me with her while the rest of my family attended the carnival. To this day, I have never been to a carnival.
That doesn't mean that I won't, it just that I have not had the opportunity. Plus is it not a high priority on my list of things to do in this life.
What happened though is, for years, I had an aversion to talking with people when I couldn't see their face. This even included Santa Clause. Can you imagine the hoops I had to get over as an agent? How about talking on the phone during phone duty? How about meeting new clients that I had never met before? Especially not knowing what they looked like.
I would guess that I'm not the only one that has fears that have to be overcome. And overcome them I did. I am glad I took the time to work through this issue. As I did, I realized that fear and not knowing something go hand in hand. So, if you are going to get over that fear, you are going to have to step out of the box and confront them. You are going to have to learn something about what you are fearing. You are going to have to make you way forward.
If I had one bit of advice for you as a new agent, I would tell you to make a list of all the fears you have in being a Realtor. Put down why you fear them and then take steps to gain knowledge on those issues in order to overcome them.
As FDR said during his first Inaugural Address, "The only thing you have to fear is fear itself". Fear is the the distressing emotion aroused by impending danger, evil, pain, etc., whether the threat is real or imagined; the feeling or condition of being afraid.
So, if you can get over your fear, you will be on your way to being the Real Estate Agent of choice.
Go get em....grrrrrrrrrrrrrrr....
One of the things he states is that, "the source of fear is childhood conditioning, usually destructive criticism from one or both parents".
I like to take this a little further. Simply put, it is not always the parents that cause this childhood conditioning. It could be your peers, your siblings, family friends and members or just someone you encounter as you grow up.
I expand on this from my own experiences that shaped my first year as a new Agent. I recall being a little boy and not wanting to leave my mother as she dropped us off at a Carnival. I wanted to go, but I was afraid of the clowns. With a lot of persuasion, I was able to get my mother to take me with her while the rest of my family attended the carnival. To this day, I have never been to a carnival.
That doesn't mean that I won't, it just that I have not had the opportunity. Plus is it not a high priority on my list of things to do in this life.
What happened though is, for years, I had an aversion to talking with people when I couldn't see their face. This even included Santa Clause. Can you imagine the hoops I had to get over as an agent? How about talking on the phone during phone duty? How about meeting new clients that I had never met before? Especially not knowing what they looked like.
I would guess that I'm not the only one that has fears that have to be overcome. And overcome them I did. I am glad I took the time to work through this issue. As I did, I realized that fear and not knowing something go hand in hand. So, if you are going to get over that fear, you are going to have to step out of the box and confront them. You are going to have to learn something about what you are fearing. You are going to have to make you way forward.
If I had one bit of advice for you as a new agent, I would tell you to make a list of all the fears you have in being a Realtor. Put down why you fear them and then take steps to gain knowledge on those issues in order to overcome them.
As FDR said during his first Inaugural Address, "The only thing you have to fear is fear itself". Fear is the the distressing emotion aroused by impending danger, evil, pain, etc., whether the threat is real or imagined; the feeling or condition of being afraid.
So, if you can get over your fear, you will be on your way to being the Real Estate Agent of choice.
Go get em....grrrrrrrrrrrrrrr....
Thursday, August 16, 2007
My memory has faded....
Have you ever tried to remember what you did last week? Well, I have to say that doing this BLOG is the hardest thing I have had to do in a long time.
Why so? Because I have to reach back in my memory to think about what happened during my first year as a Realtor. As a Seasoned Agent, it's hard to remember what happened that far back. You could say that I now just do it and thus have sort of moved it to the back of my mind. It's the same as when someone becomes a supervisor. You sort of forget what it was like to be a worker.
So, with that off my mind, I was thinking about this weekend. Not because I'm looking forward to a little time off, but because I have an open house set up.
I seem to have some recollection issues of my first Open House, but here goes.
During our New Agent training, we were impressed upon to use all sorts of opportunities to create leads. One of these was an Open House. I like many agents new to the Real World of Real Estate had some of the same questions.
1. How do you find a home to do an Open House at. Our answers were to contact that agent of the listing and ask them if you could. So, off I went....hmmmmm....where do I do one at, and hey...does it have to be an open house from my broker?
First off, you have to decide where you want to market yourself at. Not just the area, but the price range too. If you are new, do not know the area, do not know the way buyers are and are very unsure of what to do....DO NOT DO AN OPEN HOUSE IN A HIGH END HOME!!!!!!
I say this to warn you only. People who buy and sell high end homes are looking for an agent that is not going to be needing watched. You would be better finding an area that you feel comfortable in. Such as, where you grew up. If this is the $150K range, then that is where you should start. If it is the $250 range, the begin there. You need to make yourself comfortable in an uncomfortable location.
Oh...and don't forget, you need to do Open Houses in houses listed by your Broker. It's an advertising thing for yourself.
2. Now that I've decided on the area and the house, you need to take some time to talk with the listing agent. Find out what you can about the home, it's particular attributes and anything special about the pool or the neighborhood. This will make you appear as though you know the area.
3. Make sure that you advertise it on the MLS. Place Open House Signs on the route in a few days before telling the date and time. This will help for those who drive by before the weekend. Oh...also...there are some restrictions in some neighborhoods regarding signs, so don't forget to get that information from the Listing Agent.
4. Do your research!!!! You need to do a market analysis the morning of the open house so you have the latest information. You should know what is Active, Pending and Sold in the last six months. This will help you if you have a customer that feels that this listing is overpriced.
5. Be at the Open House at least a half hour before the time. I had an open house where I was running a bit late, but was still about 15 minutes early. I didn't even have the open house signs in the yard before I had someone waiting to get in. I had to open up the house, show them around and then put my signs out.
6. If you have something to make the house smell really pleasing, like baking cooking, use it. The better the mood of the buyer, the more receptive they are to sticking around and talking with you.
7. Talk with customers to make them feel at ease, but don't over talk. There are some ways to get information without prying. You will need to learn what works best for you. I can't tell you how many times I asked for an e-mail address trying not to be invasive and then NEVER heard back.
8. Don't look at everyone who comes in the door with WOLF eyes. I hate to say it, but folks can see right through you. If you are over anxious, they will feel it and get VERY uncomfortable.
9. Don't give up....at some open houses, you are going to get a lot of traffic, some moderate traffic and others NO traffic. Then, there are the ones where nobody shows up until about 15 minutes before you are ready to take down and go home. This tends to be rough on you because you are overly bored after 3 or more hours of no activity and then it just explodes on you.
10. Just a suggestion...If you have never done an open house, look in the MLS and see who is holding one and call em up and see if they would mind you shadowing them. I know I wouldn't. The same thing goes when you hold YOUR first one. See if you can get someone to shadow you also. If they are a seasoned agent, they can give you pointers and if they are new, they can start learning how to be comfortable in this area with someone around. Tag teaming is OKAY!!!!!!
11. Now, what do you do now that you are at your first open house. Well, be pleasant. Talk slowly and don't worry if you do not get any hot leads. The name of the game is to get comfortable at all aspects of the Real Estate world and become the expert that everyone will come to know in you.
Take care and be safe.
Safety Note: Open Houses can be an unsafe environment at times. If you are feel that something isn't right, lock up and get to a safe spot. Always make sure that you are never in a position where you will not be able to exit a house if you come into an unsafe situation.
Good Luck and I hope to see you at a Closing Table someday soon.
Why so? Because I have to reach back in my memory to think about what happened during my first year as a Realtor. As a Seasoned Agent, it's hard to remember what happened that far back. You could say that I now just do it and thus have sort of moved it to the back of my mind. It's the same as when someone becomes a supervisor. You sort of forget what it was like to be a worker.
So, with that off my mind, I was thinking about this weekend. Not because I'm looking forward to a little time off, but because I have an open house set up.
I seem to have some recollection issues of my first Open House, but here goes.
During our New Agent training, we were impressed upon to use all sorts of opportunities to create leads. One of these was an Open House. I like many agents new to the Real World of Real Estate had some of the same questions.
1. How do you find a home to do an Open House at. Our answers were to contact that agent of the listing and ask them if you could. So, off I went....hmmmmm....where do I do one at, and hey...does it have to be an open house from my broker?
First off, you have to decide where you want to market yourself at. Not just the area, but the price range too. If you are new, do not know the area, do not know the way buyers are and are very unsure of what to do....DO NOT DO AN OPEN HOUSE IN A HIGH END HOME!!!!!!
I say this to warn you only. People who buy and sell high end homes are looking for an agent that is not going to be needing watched. You would be better finding an area that you feel comfortable in. Such as, where you grew up. If this is the $150K range, then that is where you should start. If it is the $250 range, the begin there. You need to make yourself comfortable in an uncomfortable location.
Oh...and don't forget, you need to do Open Houses in houses listed by your Broker. It's an advertising thing for yourself.
2. Now that I've decided on the area and the house, you need to take some time to talk with the listing agent. Find out what you can about the home, it's particular attributes and anything special about the pool or the neighborhood. This will make you appear as though you know the area.
3. Make sure that you advertise it on the MLS. Place Open House Signs on the route in a few days before telling the date and time. This will help for those who drive by before the weekend. Oh...also...there are some restrictions in some neighborhoods regarding signs, so don't forget to get that information from the Listing Agent.
4. Do your research!!!! You need to do a market analysis the morning of the open house so you have the latest information. You should know what is Active, Pending and Sold in the last six months. This will help you if you have a customer that feels that this listing is overpriced.
5. Be at the Open House at least a half hour before the time. I had an open house where I was running a bit late, but was still about 15 minutes early. I didn't even have the open house signs in the yard before I had someone waiting to get in. I had to open up the house, show them around and then put my signs out.
6. If you have something to make the house smell really pleasing, like baking cooking, use it. The better the mood of the buyer, the more receptive they are to sticking around and talking with you.
7. Talk with customers to make them feel at ease, but don't over talk. There are some ways to get information without prying. You will need to learn what works best for you. I can't tell you how many times I asked for an e-mail address trying not to be invasive and then NEVER heard back.
8. Don't look at everyone who comes in the door with WOLF eyes. I hate to say it, but folks can see right through you. If you are over anxious, they will feel it and get VERY uncomfortable.
9. Don't give up....at some open houses, you are going to get a lot of traffic, some moderate traffic and others NO traffic. Then, there are the ones where nobody shows up until about 15 minutes before you are ready to take down and go home. This tends to be rough on you because you are overly bored after 3 or more hours of no activity and then it just explodes on you.
10. Just a suggestion...If you have never done an open house, look in the MLS and see who is holding one and call em up and see if they would mind you shadowing them. I know I wouldn't. The same thing goes when you hold YOUR first one. See if you can get someone to shadow you also. If they are a seasoned agent, they can give you pointers and if they are new, they can start learning how to be comfortable in this area with someone around. Tag teaming is OKAY!!!!!!
11. Now, what do you do now that you are at your first open house. Well, be pleasant. Talk slowly and don't worry if you do not get any hot leads. The name of the game is to get comfortable at all aspects of the Real Estate world and become the expert that everyone will come to know in you.
Take care and be safe.
Safety Note: Open Houses can be an unsafe environment at times. If you are feel that something isn't right, lock up and get to a safe spot. Always make sure that you are never in a position where you will not be able to exit a house if you come into an unsafe situation.
Good Luck and I hope to see you at a Closing Table someday soon.
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