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Tips
Page 2 -----> Seller's
Guide -----> Buyer's Guide
Top
10 things buyers want to know about a house
Don’t waste your money putting unwanted info into your ads. Here’s
what will get buyers to call.
1.
Location and neighborhood
2. Price or price range
3. Appearance (include a picture)
4. Layout or floor plan
5. Total number of rooms
6. Number of bedrooms and bathrooms
7. Size of lot and square footage of house
8. Details about the community
9. Amenities and features
10.Phone number for more information
Source:
Newspaper Association of America’s 2001 Newspaper Advertising Planbook
Questionnaire:
Qualifying buyer prospects
Every
salesperson has war stories about indecisive, demanding, disloyal, or
financially irresponsible buyers. This questionnaire can help you determine
buyers’ motivation upfront. Buyers who can’t answer the questions
definitively may not be ready to move into your hot-prospects list.
1.
How long have you been looking?
2. Are you working with another salesperson or broker? If yes, whom?
3. Do you rent or own your current home?
4. What is your monthly rent or mortgage payment?
5. Must you sell a home before buying? If yes, what is the status?
6. Must you complete a lease period before buying? If yes, how long is
the lease?
7. Do you have a budget for monthly payments? If yes, how much?
8. What’s your price range?
9. Has a lender prequalified you for a loan? If yes, for how much?
10. How much cash do you want to use for the purchase?
11. Do you have special requirements in a property? If yes, please list.
12. If you have school-age children, are you willing to move during the
school year?
13. Who is your employer?
14. Will anyone else help you make the buying decision? If yes, who?
15. If we find the right property, are you prepared to make a decision
now?
16. What times are best to contact you?
17. What times are best to view properties?
18. How do you like to communicate? (Phone, fax, mail, e-mail)
Source:
Walter Sanford, Sanford Systems, Kankakee, Ill.
Selling
and Marketing Advice Online: During March, get personalized selling and
marketing advice from representatives of the Council of Residential Specialists.
5
best real estate stats to track
Wondering how to become your market’s top information expert? Keep
tabs on the following data:
1.
Household composition and age trends. Family size plays a big factor in
the types of homes that are in demand. A significant increase in a particular
age category may give you an idea of a market segment to target or a segment
of the population that’s entering a different phase of the buying
cycle. Visit the U.S. Census Bureau (www.census.gov) for demographic information.
2.
Changes in zoning or additions to local infrastructure. These may be indicators
of a change in use in an area or the availability of yet-undeveloped land.
Either could have a significant effect on property values or new inventory
on the market.
3.
Affordability indices. Affordability, which NAR tracks monthly by region,
looks at area incomes in relation to area median home prices, which will
help you predict the universe of buyers out there. To view NAR's Housing
Affordability Index, click here.
4.
Employment trends by industry sector. Beyond general unemployment numbers,
performance by industry, tracked by the Bureau of Labor Statistics (www.bls.gov),
is useful if your area depends on certain industries for jobs.
5.
Remodeling spending. This data, tracked by the Joint Center for Housing
Studies (www.jchs.harvard.edu),
8
ways to get the phone to ring
Not all advertising is created equal. Follow these tips to create promotional
copy that works.
1.
Before you begin writing ad copy, list the five best features of the property
and the emotional benefit of each. For example, a fenced yard has the
benefits of safety and privacy.
2. Spiff up your e-mail marketing by creating an HTML template, which
you can easily create using Microsoft Outlook. Using HTML lets you incorporate
colors, graphics, and even Flash movies in your correspondence with prospects.
And because text and borders don’t shift around with the HTML format,
your promotions have a much more professional appearance.
3. Close your ads and promotional letters with a statement encouraging
prospects to act—for instance, “Call today.”
4. List just one phone number in your ad. Then set up your phones to forward
calls to wherever you’ll be. Listing more than one number will confuse
buyers, according to research by the Newspaper Association of America.
5. Promote online information about your listings on your yard signs as
a “24-hour open house.”
6. Use no more than five large words on a sign. You have only four to
seven seconds to get your message across as drivers pass by.
7. Add a “unique features” section to your property information
sheet to highlight special or especially desirable features of a home.
8. Consider running ads in the Monday paper. It’s usually thinner
than the Sunday edition, so your ad won’t be overlooked.
Sources:
Valerie Hunter-Kelly, Keller Williams Realty, Clarksville, Tenn.; Sam
Miller, Coldwell Banker Carroll & Kasey, Hendersonville, N.C.; Mary
Ellen Randall and Jamie Edwards, Real Estate Advertising Made Easy, (Plan-It
for Profit and Fun Inc., 1987); Barb Schwarz, How to List and Sell Residential
Real Estate Successfully, (South-Western Publishing, 1995)
6
tips for handling multiple offers
1.
Present all offers promptly and in the order they were submitted. Don’t
sit on an offer because a better one might come along.
2. Ask sellers beforehand to let you inform buyers if there are multiple
offers as a way to increase the final sale price. Be sure sellers understand
that buyers may withdraw an offer if they know there are competitors.
3. Present all offers in understandable terms. Price isn’t the only
consideration. Discount points, settlement dates, downpayments, contingency
clauses, financing provisions, and repair allowances can tip the scales.
4. If buyers won’t respond realistically to a counteroffer, use
a reverse strategy of telling them that they should forget about the house.
5. Select one offer to counter and hold the others as backups if negotiations
fall through. Provide a deadline by which the buyers must make a counteroffer,
so that other bidders will know when to expect an answer.
6. If you don’t think any of the prices are high enough, stall.
Often buyers will get nervous and raise their price if they know there
are several bids.
Sources:
Danielle Kennedy, Danielle Kennedy Productions, Sun Valley, Idaho; REALTOR®
Magazine Online
PROFESSIONALISM
15
reminders for treating people right
NAR’s Code of Ethics and Standards of Practice are guideposts for
professional conduct in real estate—but they don’t address
basic rules of business etiquette. So here is our answer to Miss Manners.
Post these rules in a prominent place in your office—and, gentle
readers, refer to them often.
1.
Always follow the Golden Rule.
2. Respond promptly to inquiries and requests for information.
3. Schedule appointments and property showings as far in advance as possible;
call if you’re delayed or must cancel an appointment.
4. Enter listed property before the prospective buyers to ensure that
unexpected situations, such as enthusiastic pets, are handled appropriately.
5. Leave your business card at showings if you’re not prohibited
from doing so by local rules.
6. Never criticize property in the presence of the owner.
7. When showing an occupied home, always ring the doorbell or knock before
entering. Knock before entering any closed room.
8. Present a professional appearance at all times; dress appropriately
and maintain a clean car.
9. If sellers are home during a showing, ask their permission before using
the telephone or bathroom.
10. Advise other brokers’ clients to direct questions to their agent.
11. Communicate clearly; avoid jargon.
12. Be aware of and respect cultural differences.
13. Show courtesy and respect to the general public.
14. Be aware of and meet all deadlines.
15. Promise only what you can deliver and keep your promises.
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