1. Build Your Listing Inventory
This will be the year that people again realize that there are more than just financial benefits to homeownership. They'll remember that homeownership is still the American Dream. We believe that there will be a growing number of people ready, willing and able to purchase homes in 2011. For that reason, you must build a salable inventory of listings.
Make believe you own a shoe store and you know there will be a surge of buyers coming in over the next week. You should want to have every shoe, in every size and every color so that you can please every buyer. Now apply that to your real estate business.
2. Be Strong on PriceMany listings will sell in 2011; but not all of them. The inventory is still way too high in most communities and there will be more distressed properties (short sales and foreclosures) entering the market in the 2nd and 3rd quarters of this year. That will continue to put downward pressure on home prices.
Make sure that you counsel your sellers accordingly. They depend on you to help them price their house properly so it will sell and they, and their families, can move on with their lives. Don't let them down!
3. Develop a Great Buyer Presentation Manual
The buyers will be out in large numbers this year. However, they will still have concerns as to whether or not this is a good time to buy real estate. Over the last few years that concern has turned into fear which resulted in many buyers staying on the sidelines. They were afraid to purchase, and therefore didn't.
All fear comes from a lack of understanding. We must be prepared to educate purchasers as to why now is the PERFECT time to buy. Not just because we said so and they should listen to us. Instead, we should explain today's market and shed light on the opportunities that exist.
*In the February edition of KCM, we will give subscribers the format for your Buyer Presentations. We'll also share some great slides and graphs to overcome the most common buyer objections.
4. Get Mobile With All Your Information
We have to be prepared for every appointment. We should also be prepared for every, what we call, 'pre-appointment' interview. These are the times when you bump into someone in the store or at your child's basketball game and they ask you "How's the real estate market?" These informal conversations are crucial today. If we handle them professionally we will have an impact on that person's perception of the market.
We have pictures of our children and/or pets on our mobile devices (phones and iPads). We must also have great visuals to help people understand what is happening in the market. If we handle the pre-appointment interview well, we will get more listing and buyer appointments. The result will be more transactions.
*Starting last month (January), we made every slide in the KCM subscription available for download to your mobile devices. We include directions on how to download the visuals (including Blackberries).
5. Realize This Will Be YOUR Year!
The last few years were rather difficult for real estate professionals. The nation's financial meltdown and all the stimulus packages that followed put the market in the hands of outside influencers. We were forced to be reactive instead of proactive. That has all changed. For the first time in almost 5 years, we are back in control.
TAKE CONTROL! Your success is firmly in the hands of the person who should be molding it - YOU! Think Big and Dream Big. This is the year that agents will make small fortunes.
|
My father wasn't necessarily a religious man; but he was spiritual. He believed very strongly that the forces at play in the universe (whether it be God, Karma or Che) are not sadistic. He knew that, if a dream enters your mind, you already have the personal resources to make that dream come true. Dream big and then put together a plan. Don't allow doubt to paralyze you. |
