There is no better way to increase your income than to price your listings to sell the first time.
Too many agents rely on advertizing to promote themselves. Others depend on referral marketing. Still others have the classiest, most up to date website. The newest trend is to use social media such as Facebook, Linked in Craigslist, etc. etc. to promote yourself.
But, you know what, real estate is still a people business based on selling the homes of people to people. And what better way to promote yourself than through a fast efficient sale!
Listings that stay on the market for longer than others in the same area show that, either the home has a problem, or the agent is a problem! So price correctly the first time. Listings priced right sell fast, for greater dollars and with better terms than homes that are overpriced.
The faster the sale, generally speaking the lower the costs and the more the profits. Agents with great sales reputations are selected more often than those whose listings sit on the market, regardless of the commission rate.
In strong, high priced markets real estate companies may use lower commission rates to entice people to list their home with them. In softer markets, such as has occurred in the United States, commission rates begin to actually rise, as a concerned consumer wants a successful sale and is prepared to pay a higher, or shall I say, non-discounted commission rate, simply to work with a successful, high selling Realtor. Successful sales are the best indicator of a successful Realtor. So price it right for sale and you will achieve more success in listing properties.
In this market, where the consumer is taking a breather for the summer, list price is even more critical to success. Believe me when I say that your client will love you more for pushing back on the list price, than if you except a much too high, out of market list price and sell the property much later than expected.
So Price Right the First Time. You will get a raise, and so will your client!
Darryl Mitchell is Managing Broker for RE/MAX Professionals Inc. Brokerage in Etobicoke Ontario
Incorporating PR techniques along with the standard template website can set the progressive realtor apart from the rest in the eyes of the prospect.
ReplyDelete3 Things that a PR campaign should have:
1. Satisfied customer testimonials - As clients close on their homes, the agent should ask for a small sentence or two outlining their experience and satisfaction with the agent. Placing these testimonials on their website can provide some instant credibility to the agent and their ability to service the customer.
2. Promotional video – A small 60 second video can be created in a professional studio for less than the cost of one direct mail campaign. Using an unbiased spokesman touting the agent’s strengths and experience can go a long way toward building an impression that can stay with the prospect for weeks or longer.
3. Real Estate Newsletter - Creating an e-mail subscription campaign to distribute information about the real estate market will continue keeping the agent in front of potential buyers and sellers over time. The agent is more likely to be contacted when the time is right as they have built a rapport over time.
Realtors need to do more than the traditional business card at the grocery store bulletin board to get new clients. Creating a PR campaign that creates a web funnel of prospects to your door is not as hard as it sounds and can cost a great deal less than the traditional marketing most agents are following.
Gravity Gardener
http://myprvideo.com/realtor-video.html