Monday, March 15, 2010
Tuesday, March 2, 2010
FIVE OPEN HOUSE CONCEPTS
1. Sometimes, they get the job done.
Many agents and homeowners are skeptical about the statistical unlikelihood of actually snaring a buyer who walks in off the street. But the fact is that many properties have been sold via open houses: either the buyer at the open house engages his real estate agent and request a one-on-one appointment, or the buyer will submit an offer the day of the open house, immediately after viewing the property.
Open houses can have a “coattails” effect. Many people who go through open houses are neighbors, which is not necessarily a bad thing. People, especially neighbors, talk. The more exposure a listing is given, the better.
2. Sometimes, home sellers just feel better for holding an open house. Especially in a slow market, it amounts to a tangible effort.
If that effort is coordinated with many other agents in an office and area-wide open house days are scheduled, results can be magnified. By combining efforts, agents can send prospects to other houses that better suit their needs, which are conveniently open at the same time.
3. Even if an open house doesn't produce a sale, it might provide valuable information for the sellers.
Feedback is a valuable resource. Actual market extracted reaction from prospective buyers regarding the condition of the property, its layout, price, etc., will help mold future marketing strategies.
4. The idea is not just to engage consumers, but to engage other real estate agents, too.
Attracting consumers who stop by open houses with their agents in tow creates additional exposure of a different type. Those agents might see the house as attractive to their other clients and arrange future showings.
5. So, what works best to create a successful open house?
Holding a successful open house is part art and part science. Multiple open signs, print and online exposure and direct mail are essential elements of open house pre-marketing. Then it’s up to the hosting agent’s sales skill to engage prospects.
Coldwell Banker Weir Manuel Open House Event March 7
There is still time to sign up your listings for our March 7 Open House Event! Be sure to contact Allison Ferris 248-433-5495 before time runs out March 3 at 9am so your listing can be included in our Detroit News and Free Press Ad and promoted on Facebook and Twitter.
Many agents and homeowners are skeptical about the statistical unlikelihood of actually snaring a buyer who walks in off the street. But the fact is that many properties have been sold via open houses: either the buyer at the open house engages his real estate agent and request a one-on-one appointment, or the buyer will submit an offer the day of the open house, immediately after viewing the property.
Open houses can have a “coattails” effect. Many people who go through open houses are neighbors, which is not necessarily a bad thing. People, especially neighbors, talk. The more exposure a listing is given, the better.
2. Sometimes, home sellers just feel better for holding an open house. Especially in a slow market, it amounts to a tangible effort.
If that effort is coordinated with many other agents in an office and area-wide open house days are scheduled, results can be magnified. By combining efforts, agents can send prospects to other houses that better suit their needs, which are conveniently open at the same time.
3. Even if an open house doesn't produce a sale, it might provide valuable information for the sellers.
Feedback is a valuable resource. Actual market extracted reaction from prospective buyers regarding the condition of the property, its layout, price, etc., will help mold future marketing strategies.
4. The idea is not just to engage consumers, but to engage other real estate agents, too.
Attracting consumers who stop by open houses with their agents in tow creates additional exposure of a different type. Those agents might see the house as attractive to their other clients and arrange future showings.
5. So, what works best to create a successful open house?
Holding a successful open house is part art and part science. Multiple open signs, print and online exposure and direct mail are essential elements of open house pre-marketing. Then it’s up to the hosting agent’s sales skill to engage prospects.
Coldwell Banker Weir Manuel Open House Event March 7
There is still time to sign up your listings for our March 7 Open House Event! Be sure to contact Allison Ferris 248-433-5495 before time runs out March 3 at 9am so your listing can be included in our Detroit News and Free Press Ad and promoted on Facebook and Twitter.
Friday, February 26, 2010
SUCCESSFULLY RESPRESENTING REO BUYERS
Sales associates working with buyers interested in a bank-owned property are well advised to leave some of their traditional thinking behind.
To avoid unmet expectations it is extremely important that the selling agent educates both himself and his clients about the realities of REO brokerage. REO listing brokerages are required to conform to each of their clients’ (banks or third party asset managers) needs and regulations. Each client’s requirements can vary from one extreme to another. And they can be far different from the traditional practices with which selling agents have become comfortable in their markets.
Traditional expectations about gathering information on a property, communicating, negotiating strategies and processing paperwork must be replaced with new thinking.
Some basic questions to which selling agents should seek answers before proceeding:
• How and when are offers presented?
• Can a counteroffer ever be expected or will the highest offer simply be accepted?
• Are offers sent to a special e-mail or fax address?
• What are the specific qualification requirements?
• Are there special forms that need to be included?
• Can communications take place by phone or must everything be done via e-mail?
• Will a single package e-mail submission over 4 MB be accepted?
• What are the office hours of the REO department or listing agent/team?
• If you are the successful selling agent, what time frames
and procedures are expected of the agent and client to return documents, checks, addenda and other documentation?
Understanding that selling bank owned properties is a vastly different process than many agents are used to can help avoid the frustrations involved in the REO process. Knowing these ins and outs is yet another unique skill required today to continue to provide outstanding customer experiences.
To avoid unmet expectations it is extremely important that the selling agent educates both himself and his clients about the realities of REO brokerage. REO listing brokerages are required to conform to each of their clients’ (banks or third party asset managers) needs and regulations. Each client’s requirements can vary from one extreme to another. And they can be far different from the traditional practices with which selling agents have become comfortable in their markets.
Traditional expectations about gathering information on a property, communicating, negotiating strategies and processing paperwork must be replaced with new thinking.
Some basic questions to which selling agents should seek answers before proceeding:
• How and when are offers presented?
• Can a counteroffer ever be expected or will the highest offer simply be accepted?
• Are offers sent to a special e-mail or fax address?
• What are the specific qualification requirements?
• Are there special forms that need to be included?
• Can communications take place by phone or must everything be done via e-mail?
• Will a single package e-mail submission over 4 MB be accepted?
• What are the office hours of the REO department or listing agent/team?
• If you are the successful selling agent, what time frames
and procedures are expected of the agent and client to return documents, checks, addenda and other documentation?
Understanding that selling bank owned properties is a vastly different process than many agents are used to can help avoid the frustrations involved in the REO process. Knowing these ins and outs is yet another unique skill required today to continue to provide outstanding customer experiences.
Monday, February 22, 2010
OPEN HOUSES - SOMETIMES, THEY GET THE JOB DONE
Many agents and homeowners are skeptical about the statistical unlikelihood of actually snaring a buyer who walks in off the street. But the fact is that many properties have been sold via open houses: either the buyer at the open house engages his real estate agent and request a one-on-one appointment, or the buyer will submit an offer the day of the open house, immediately after viewing the property.
Open houses can have a “coattails” effect. Many people who go through open houses are neighbors, which is not necessarily a bad thing. People, especially neighbors, talk. The more exposure a listing is given, the better.
2. Sometimes, home sellers just feel better for holding an open house. Especially in a slow market, it amounts to a tangible effort.
If that effort is coordinated with many other agents in an office and area-wide open house days are scheduled, results can be magnified. By combining efforts, agents can send prospects to other houses that better suit their needs, which are conveniently open at the same time.
3. Even if an open house doesn't produce a sale, it might provide valuable information for the sellers.
Feedback is a valuable resource. Actual market extracted reaction from prospective buyers regarding the condition of the property, its layout, price, etc., will help mold future marketing strategies.
4. The idea is not just to engage consumers, but to engage other real estate agents, too.
Attracting consumers who stop by open houses with their agents in tow creates additional exposure of a different type. Those agents might see the house as attractive to their other clients and arrange future showings.
5. So, what works best to create a successful open house?
Holding a successful open house is part art and part science. Multiple open signs, print and online exposure and direct mail are essential elements of open house pre-marketing. Then it’s up to the hosting agent’s sales skill to engage prospects.
Open houses can have a “coattails” effect. Many people who go through open houses are neighbors, which is not necessarily a bad thing. People, especially neighbors, talk. The more exposure a listing is given, the better.
2. Sometimes, home sellers just feel better for holding an open house. Especially in a slow market, it amounts to a tangible effort.
If that effort is coordinated with many other agents in an office and area-wide open house days are scheduled, results can be magnified. By combining efforts, agents can send prospects to other houses that better suit their needs, which are conveniently open at the same time.
3. Even if an open house doesn't produce a sale, it might provide valuable information for the sellers.
Feedback is a valuable resource. Actual market extracted reaction from prospective buyers regarding the condition of the property, its layout, price, etc., will help mold future marketing strategies.
4. The idea is not just to engage consumers, but to engage other real estate agents, too.
Attracting consumers who stop by open houses with their agents in tow creates additional exposure of a different type. Those agents might see the house as attractive to their other clients and arrange future showings.
5. So, what works best to create a successful open house?
Holding a successful open house is part art and part science. Multiple open signs, print and online exposure and direct mail are essential elements of open house pre-marketing. Then it’s up to the hosting agent’s sales skill to engage prospects.
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