First time homebuyers are a fulfilling market for the real estate agent. You're helping people move from spending money on rent that they'll never recoup to investing that same money into a property they Read more...
First time homebuyers are a fulfilling market for the real estate agent. You're helping people move from spending money on rent that they'll never recoup to investing that same money into a property they actually own. This is a huge leap for most people and, as their agent, you get to help them find a starter home, or even their dream house.
All of this is empowering and inspirational. The problem is that many agents find it difficult to convert renters into buyers. People often rent because they don't feel financially stable enough to own a home. There may be a plethora of obstacles in their way, from salary to down payment to a lifestyle that means more mobility.
The reality is that many people can afford to buy and most would agree that buying would be beneficial for them financially. As their real estate agent, your goal is to educate potential buyers - But first you have to find them.
What Demographics Are Included in the First Time Home Buying Market?
There are different segments of first-time home buyers. Often real estate agents zone in on the ones who have already expressed interested in buying a home. This is an easier demographic to market to because they're already looking for your services. You don't need to educate them on why buying could be beneficial for them because they've already come to that conclusion.
The second hidden demographic are renters who haven't considered buying yet. Renters are often thought of as folks who haven't yet saved enough money to buy. That's not the whole of this demographic, though. There are those who aren’t in a position to buy right away, for certain. But every demographic is accounted for here for various reasons. Some prefer the mobility that renting allows as they are able to move more frequently with less hassle. Some simply prefer the location and amenities available in rental space in their locations.
First time home buyers may not be what you would think without researching, as well. For instance, single women make up a surprisingly high percentage of new homeowners.
When you're considering how to reach first time homeowners, there are a number of channels you can use to capture them. You'll also find that your geographic location will give you more information to help you target your market.
For many homebuyers in California rents have been rising so quickly and consistently that home ownership becomes more and more appealing with every rental increase notice. Remember that your buyers don’t necessarily need 20 percent down like in the olden days. There are many programs that offer down payment options of 0-5% making homeownership possible for more people.
How to Market to Renters to Help Convert Them to Home Buyers
For the renters who have already decided that they want to purchase a home, the marketing campaigns should be tailored more for sales than education, though value based content can still be used here. These future buyers can be considered warm leads because they already have an interest in purchasing.
To reach renters who have not already committed to buying a property, real estate agents sometimes need to use more creative solutions in order to educate and convince this market. The good news is that many renters would prefer to be homeowners. They often believe they can't afford it but in many cases they simply need more education about the buying process.
Educate Prospective Buyers on the Affordability of Buying
There are a number of ways to do this but the reality is that many would be buyers don't even research the idea of buying property because they mistakenly believe they can't afford it. Many of them can and should consider buying rather than renting. They also often believe that their monthly mortgage payment would be higher than their current rent, but that's often not the case, either.
Here are some ways you can reach these renters with more information that can help them to see buying as a good alternative for them:
Online Campaigns. You can use your social media channels and newsletters to help educate renters on the financial realities of buying. This can include statistics and personal stories showcasing the benefits to owning a home over renting.
Value Packed Blog and YouTube Posts. Use your website blog to host informative pieces that can be helpful for renters looking to buy. This can include tips on saving for the down payment for a home and information on finding the right property to fit your budget and lifestyle.
Articles in Local Publications. If renters aren't currently looking to buy a property, they may never visit your blog or pay attention to any of your campaigns. But articles in local publications have a broader reach. This might include town newsletters, local papers, and magazines.
Personal Outreach. Hosting webinars and classes about home buying can be a great way to educate first time buyers.
You'll find that many would be buyers are simply misinformed about the process. Helping to educate them on the benefits of home ownership can be an excellent way to reach this fantastic market
I wanted to write a blog about this because many of our real estate school students start out working with buyers and many of these are first time homebuyers. Having a solid plan of action to target and convert this market segment can prove profitable to the newer real estate agent.
If you are interested in taking real estate classes call us at 888 768 5285 or visit us at www.adhischools.com
Love,
Kartik
|
While historic homes don’t make up the bulk of sales for most Realtors, there are some agents who specialize in historic home sales. Still, this doesn't mean that you shouldn't venture into this great Read more...
While historic homes don’t make up the bulk of sales for most Realtors, there are some agents who specialize in historic home sales. Still, this doesn't mean that you shouldn't venture into this great market, or that you should defer to a local agent that has more experience with historic properties.
Historic homes can be an amazing acquisition for the right buyer. But there are some things specific to these types of properties that you should be aware of in order to best serve your clients.
Why Historic Homes Can Be an Amazing Purchase
Historic homes and properties within historic districts have amazing features that many buyers prize. For the home buyer who loves classic architecture or enjoys the history behind their residence, no new construction could ever compare. You may have a client who just falls in love with a historic property or you may have a client who is specifically looking for something with historic significance.
Each geographic location has their own historical homes that bring some flavor of past residents to life. The amazing thing with many historic homes is that they've gone through numerous generations and the history of each family is often present in the home itself. You can see this through additions made to the original architecture and a layering of the original design with more modern elements added over time.
The architectural and historic appeal is often the biggest benefit that your clients might be looking at in making their decision. But there are some other benefits that might be available that you should research and point out when applicable.
6 Things to Keep in Mind When Buying Historic Property
While many home buyers fall in love with the romance and history of historic properties, there are some things to consider which are unique to these types of property. Unlike new construction or homes built in recent years, historic homes have some quirks that can at times be costly to maintain. They've weathered many seasons and, depending on the local weather and type of construction, they may be in need of some extra TLC in regular maintenance.
Here are some things to make sure that your clients are aware of when purchasing a historic home:
1. Does the Property Include Elements Besides the Home?
Some historic properties are larger than a typical home lot and may include other structures which may also be historical in nature. They also often include great gems in landscaping, such as very large, beautiful trees, carefully planned gardens and hedges, greenhouses, gazebos, and even ponds.
2. Is There A Mass Appeal to this Home's History?
In cases where the property of someone with great local or national significance or where the architect was someone of note, the home might be used for touring or parts of the property might be useful to rent for events. If you're not interested in opening up your private residence in this manner, you might still find this a major perk just to own a home of this value and showcase it for your own purposes.
3. Possible Tax Incentives and Funding
In many areas, there are available funds and lower interest loans available for people who buy historical homes and wish to renovate them. These loans do come with some strings attached. The renovations often need to be done to certain specifications in order to maintain the home's integrity as a historic place.
4. Higher Than Average Renovation Costs
Each property is different. If your client is looking at a historic home that has already been completely renovated, they may not need to worry over renovation costs. However, in a case where there is major renovation work, it can often be more costly than renovating a newer home. This is because you'll often need to replace pieces that are no longer made or commonly used in newer construction. To maintain the historic significance, you may need to hire specialty contractors or preservationists to work on the home, which can be way higher in cost than a do it yourself project.
5. There May Be Restrictions
In many places, there are restrictions on the types of changes you can make to a historic property. This might include rigid restrictions on the outside aesthetic, such as paint color schemes and landscaping. It also might mean that you're prohibited from enhancing the property with new additions. It's important that buyers know these parameters in advance because they may need to live in a home where the architecture and design is less convenient for today's lifestyle than it was for the generation who built it. In most cases, those historic differences will add to the charm of the place.
6. More Likely to Have Hazards Than Newer Properties
Older properties were often built with materials that are no longer in use because they were found to be hazardous, such as asbestos. They also may be more prone to issues like mold because of the age of the home itself. It's important to have the home thoroughly inspected by a professional before purchasing. They can tell you if there are any issues in advance.
Historic homes provide a wonderful glimpse into past generations and can often be a dream residence for the right buyer. If you want more information about the historic properties in your area, contact the National Register of Historic Places.
As always, the first place to start your real estate journey is with a great online real estate course like ours. Call us today at 888 768 5285 if we can be of service.
Love,
Kartik
|
When you're in sales, the first impression can be the gateway to success. For real estate agents, it's the first step down a long and potentially lucrative path. The good news is that working on your first Read more...
When you're in sales, the first impression can be the gateway to success. For real estate agents, it's the first step down a long and potentially lucrative path. The good news is that working on your first impression will serve not just your career, but every other relationship you have in life. I wanted to write a blog post to take you through what a solid first impression looks like, how it helps you better relate to your clients, and what their takeaway will mean for your bottom line.
How to Create a Great First Impression
1. The Basics
Most of making a good first impression is common sense. However, just because it's easy to understand, doesn't mean it's easy to do. Even natural extroverts have to continually practice their manners and mannerisms before they get it right.
Smile: Nearly half of all Americans say that the smile is the most memorable feature after meeting someone new. A fresh-faced smile sends a signal to people that you're happy to work with them and you're ready to get the work done.
Focus: When it comes to meeting new clients, the nervousness of making a good first impression can be enough to force your head down. Eye contact is both polite and helps forge an instant connection with clients.
Listen: Anyone who's ever dealt with a salesperson knows how frustrating it can be to feel as though your words are going straight into the wind. Active listening means paying attention, asking questions, and responding to the clients' real concerns.
2. Dig a Little Deeper
A first impression is more than just following the basics. Picture the guy with the comically huge grin plastered on his face, the woman with off putting eye contact, or the agent who effusively responds to every statement as if it's the most fascinating thing they've ever heard. In the strictest sense of the word, they're smiling, listening, and focusing, but they still aren't leaving the right impression.
To really master the directions, you need to practice sincerity with each step. Express genuine emotion when appropriate, but remember that subtlety can also go a long way. Give a small grin when meeting people and save the teeth for the last minute. Follow-up on client statements that are vague or need further information. Blink normally when making eye contact and don't be afraid of looking down for a second if the conversation is getting too intense.
3. Practice Makes Perfect
Practicing your first impression doesn't necessarily mean going to your local bar and talking to endless strangers. It can be as simple as setting up role-playing with people you already know and trust. Have them provide honest feedback and constructive criticism about the sincerity of your smile, the volume of your voice, and the firmness of your handshake. These comments can go a long way if you're trying to understand how other people see you during their first interaction.
When you're shaking someone's hand, look into their eyes and strike a balance between death grip and limp. Use the first name as quickly as possible during the conversation so you're less likely to forget their names halfway through. Make sure that you’re annunciating your words and the volume of your voice is appropriate for the context of the environment.
4. Do Your Prep Work
Once you've taken care of some of the more subjective aspects of the first impression, you should have a much easier time addressing the more practical work of meeting someone. Being prepared can be as simple as getting to a meeting early or donning a sports coat or blazer to make your outfit just a touch more professional.
Before you meet with clients, it helps to know as much as possible about what they're looking for. Even if it's as simple as knowing they want a duplex rather than a single-family. The art of sales can get complicated, so it helps to hit the ground running.
5. Express Yourself
As tempting as it can be to remain neutral during your meeting, blandness will ultimately not help you be memorable. The truth is that even the most successful real estate agent may turn off a client or two with their personality, but it's ultimately better than being seen as forgettable. You can still be polite and respectful while expressing your personal opinions.
To stay on topic and to maximize the first few seconds with a client, some agents may give a short elevator speech where they emphasize their particular brand. So whether you're a bulldog in negotiations or the master of the short escrow, letting clients know upfront can be a good way to stand out.
Unlike most traditional sales, successfully navigating a property sale can take months or longer. If you hope to maintain your reputation and relationship with your clients for that long, you need to get off on the right foot. Use these tips to stand out from the crowd, so you're the one who ends up growing customer base.
This may be a slightly different blog post than I normally write, but so many of our real estate school students express their nervousness in meeting clients early in their careers. Hope this helps.
If you are interested in taking online real estate courses please visit our website or call us at 888 768 5285.
Love,
Kartik
|
Changing careers and becoming a Realtor is a major step in anyone's life. As such, a real estate agent has to budget for pre- and post-licensing expenses as accurately as possible. But it isn’t only Read more...
Changing careers and becoming a Realtor is a major step in anyone's life. As such, a real estate agent has to budget for pre- and post-licensing expenses as accurately as possible. But it isn’t only real estate agents who have to account for these sorts of expenses. Most professional service providers like accountants and attorneys are just a few of the similar models that budding real estate agents can look at as a model.
.h2head{text-transform:none;color:grey;font-weight:500;margin-top:40px;}
.bull1{margin-left:50px;}
.bull2{margin-left:50px;}
.bull3{padding-right:20px; padding-left:20px;}
.bull4{padding-right:15px;padding-left:20px;}
.bull5{padding-right:15px; padding-left:20px;}
.bull6{padding-right:20px; padding-left:20px;}
@media(max-width:800px){
.bull1{margin:auto 0;}
.bull2{margin:auto 0;}
.bull3{padding-left:-0px;}
.bull4{padding-left:-0px;}
.bull5{padding-left:-0px;}
.bull6{padding-left:-0px;}
}
Real Estate School Cost
Before becoming a Realtor, prospective agents have to pay for real estate license classes in order to sit for the state examination. Real estate courses aren't free and as such you should budget the cost of real estate school into your plans.
ADHI Schools’ real estate license courses: $150-$499
Real Estate Exam Fees
In addition to the cost of the licensing courses at a state approved real estate school, there are exam and license fees to consider as well. Also, remember that this article is written and published in March of 2020. These fees can change over time. You are encouraged to check our website or call us at 888 768 5285 to ensure that you are looking at the most recent set of fees.
State examination: $100
4 year real estate license: $350
Criminal background/Livescan fee: $84
Real Estate Broker Fees
Once you complete all these pre-license costs, the broker you decide to associate with will determine the next set of costs. When shopping for a place to hang your hat in the early days of your real estate career, be sure to find out about:
⦁Desk fees, if any, that you will have to remit to the broker. These are fees that the broker charges whether or not you actually sell anything.
⦁ The commission split you have to pay to the broker. Most brokers will take some portion of the commission you pay to them from every transaction that you close.
⦁ What day-to-day expenses, if any, the brokerage will cover.
⦁How and if the brokerage will help you get leads.
Ongoing Costs: Marketing Expenses, Continuing Education, Travel
All the factors listed above should play a part in your decision about which broker to choose after you get your real estate license. Remember, there's much more to your upfront expenses than real estate courses and tuition for real estate license school. Note that, like most other business professionals and entrepreneurs, you will have some expenses even before getting a license. After that, there will be other costs, only some of which should be considered "upfront" in nature. A few, like ongoing marketing expenses, continuing education costs and travel expenses should be put into the "ongoing" category since they need not be paid before you earn your first commissions.
Realtor Membership Dues
Don’t forget that to join professional associations like the National and California Association of Realtors will also set you back over $1,000 annually in California. This will cover your access to the Multiple Listing Service, the contract generation software and an eKey that will allow you to open homes with lockboxes.
Marketing Fees
As an active real estate agent, you will also likely have ongoing marketing fees of at least $1,000 or more per year: This category includes necessary items for getting your name out there, like business cards, flyers, advertising, signs, websites and similar items.
Keep in mind that your broker might cover some of the above expenses for you. That's why it is essential that you discuss all the details of expense coverage, desk fees and commission splits with your prospective broker. Those factors will have a profound effect on what comes out of your pocket as opposed to what someone else will pay once you decide to become a Realtor.
Now That You Know the Cost, It’s Time to Start Your Career
Starting your new real estate career with eyes wide open is helpful. I wanted to write a blog post specifically about this as I know that the newer real estate licensee will likely have many of these questions.
If you haven’t taken the first step to become a real estate agent, enroll in our real estate license courses today! Check out our real estate success stories for inspiration! Call me at 888 768 5285 if we can be helpful.
Love,
Kartik
|
Welcome to the world of people. Some clients you have are going to be just terrific. Others can make you regret getting into the real estate business altogether. Most are probably going to be somewhere Read more...
Welcome to the world of people. Some clients you have are going to be just terrific. Others can make you regret getting into the real estate business altogether. Most are probably going to be somewhere in between.
With that said, one of the benefits of working in our real estate business is the ability to work one-on-one with people. Not only are you helping to fill their needs, but also create positive, long-lasting relationships in many cases. Remember that after you finish real estate school with us and get out into the real world you’re going to find that not all people are as easy to deal with as you might like. Sometimes, you’re going to have a client that is.. well.. let’s just call them challenging.
Whether you are a seasoned real estate agent or a new Realtor who just passed the real estate license exam, there are a few simple things you can do to make these difficult relationships easier to manage.
#1: Keep Your Calm
No matter how awful the things are that the client may be saying, it’s essential to remain professional. If you have to rant and get some of your frustrations off your chest do so in private (not with agents or other clients). It is always important to keep the focus on the transaction. Remember, you do not have to work with them again.
Consider this. When a client is difficult, you may feel as though they are not worth your time or energy. Keep in mind that some difficult clients may be self-aware enough to recognize this about themselves. If you stick with them long term, they are more likely to continue the process and transact. They may even surprise you and refer you other business. It’s not always going to be easy, but it can be necessary to stick it out and maintain your composure and professionalism.
#2: Listen to Their Underlying Concerns
What happens if you encounter is a client that’s seemingly always unhappy? They complain about every property even though they’ve just asked to see it. They may say that the price is too high and the neighborhood isn’t good enough.
A true leader can recognize that constant negative behavior like this may point to a larger, underlying problem. Sit down with your client and talk about what you’ve looked at and the concerns you have had thus far. Then, ask them what they really want. Try to uncover their concerns. Are they truly ready to buy? Perhaps they are not sure if they have their finances teed up. In other cases, they may be be a fear of completing the purchase and make this type of commitment. Their complaints are just symptomatic of another issue.
Bear in mind that there are situations where their concerns will be valid. Perhaps they don’t feel you’re putting enough time into them or that you aren’t giving them what they need. It’s important to get them to clarify the root of the problem so that you can address it and move on.
#3: Respond to Them Sooner
Let’s say a client contacts you at 9 pm. What he or she said is irritating to you. You want to clarify the situation, but it’s already so late. Are you going to spend the night tossing and turning as a result of this situation? If so, it’s better to respond now and get it over with, so you can sleep.
The key here is when a client raises a concern about any factor, make it a priority to get it figured out as soon as you can. This helps to validate the client’s concerns. That doesn’t mean you are agreeing with them or even accepting any type of blame. Rather, you are simply moving things forward to the next step in the process.
Be sure to restate their claim or concern. For example, you might say, “Thank you for your email. I understand you are concerned with the timing of this sale….” You do not have to provide a solution right away, but you can tell the client you’re working on it or set up a time to talk about it.
#4: Let Go of Fear
Let’s say there is a client that just downright doesn’t understand the rules of the game. The buyer may want to underbid every property you show them. What about a seller who is adamant about overpricing the home? Worse yet, what about a seller who is refusing to make proper disclosures to a buyer? In these situations, you may be afraid to lose the client, but you have to step outside of that fear.
Be frank and honest with your clients all of the time. Tell them what is going to happen in any given situation. “If we underbid this by that much, we’re going to lose it to a competitor’s bid. Here’s what I think we should do.” Or, state, “It’s legally required to communicate this information. If you are not willing to do that, I need to step away from this relationship to protect my real estate license.”
Sometimes, you have to say what they need to hear frankly. Taking charge like this doesn’t mean being aggressive, but it means reminding them, in a positive way, that you know what you are doing.
#5: Find a Solution as a Priority
When clients are difficult, there is generally a reason for this. Your goal is not to ignore that concern. Rather, it is to find a compromise or solution that works for them.
We are in the business of helping people, and that often means figuring out what they want and need without them clarifying this. There will be times when you will miss the mark or make a mistake. The great real estate agent will admit those mistakes and find a solution to recover the client. How can you improve this situation if you were wrong?
On the other hand, if the client is wrong, you may want to throw your hands up and walk away. Before you do that, explain what’s happening. Then, offer more than one solution. By giving your client an option, you put the ball in their court. They now remain in charge of the outcome.
Difficult clients happen in every business. As you work to build your real estate career, you will find that there are 10 good clients for every bad one. Those are good odds, and it can mean that that one individual is pushing you to become a better agent, one that has to step outside of their comfort zone to support their client and your real estate sales business.
I’m always looking to bring our readers value. If I can be of service, please let me know. Feel free to reach out on Instagram or by phone at 888 768 5285.
Side note - If you read this and aren’t scared away at the prospect of real estate sales and want to enroll in our real estate school, feel free to do so here. We would love to have you as our newest student!
Love,
Kartik
|
Making the decision to invest your time in real estate school is a big one. After all, starting a new career does take work in order to be successful. The process starts with getting the right education Read more...
Making the decision to invest your time in real estate school is a big one. After all, starting a new career does take work in order to be successful. The process starts with getting the right education to prepare you with the tools and resources to thrive in our great real estate business.
The question many people ask when starting their journey is whether or not real estate school is “hard”?
It’s Not Hard – It’s New
Real estate school itself isn’t difficult. However, a new skill set can take time and a little effort to develop. Think about all the things you’re good at now that took a little getting used to. For example, you didn’t learn to drive in just one day. You probably didn’t learn your favorite hobby instantly, either. The fact that skills take a little time to nurture have more to do with the rules of nature, not real estate classes.
To be clear, there is plenty to learn. To prepare for the real estate exam you’ll have to understand property taxation, landlord:tenant rules and basic real property ownership laws. Some topics can be a bit complex but with the right real estate school the process can go a little smoother.
You Have Varied Learning Options
Everyone learns at a different rate and with an individualized learning style. What’s great about our real estate school is that our students can choose the learning method that works best for them.
Some students do best in a classroom with a teacher lecturing them. Perhaps that’s the way you’ve always learned new things. You may like having a dedicated space to go to at a set time to learn. We offer over 20 classroom locations with expert instructors ready and able to answer your questions. We also offer over 500 YouTube videos on various real estate related topics. Finally, each one of our students gets college-level textbooks filled with real estate goodness to help you get started and more importantly finish up and get your real estate license.
So whether you like the classroom, the online world or physical textbooks we have you covered from all angles.
ADHI Schools Offers the Solutions Right for You
Here’s the really good news. At ADHI, you can learn any way that works for you. We offer both online and optional in-person educational programs. They are structured to give you the best opportunity to explore the material in a manner that fits your goals.
How Long Do I Have to Finish?
With ADHI Schools, your enrollment in the real estate program lasts a full year. That is more than enough time to learn the material and to do so at a pace that’s right for you. Perhaps you’re still working another career, or you are balancing personal life responsibilities. With this program, you don’t ever have to feel rushed.
Most of our students finish the program a lot quicker than this
but this type of flexibility gives you the ability to be in control. If you find some of the subject matter difficult, you can use the resources provided to dive deeper into that area than others that you find easier to take in.
The net-net bottom line is that real estate education isn’t too hard, but it is a new skill you need to learn, and that means it takes some commitment on your part. Even if you have no real background in real estate prior to this, it isn’t insurmountable. You may even enjoy all that you are learning. =)
With the right school (like ADHI Schools), and the best support team, (like our staff), you’ll get through every course and topic with ease, walking away with the confidence in what you’ve achieved.
Want to talk? Call me at 888-768-5285.
Love,
Kartik
|
Happy holidays! Did you finish your real estate license courses as yet? Have you prepared for the real estate exam?
In a way, I almost feel bad for our real estate school students who get their real Read more...
Happy holidays! Did you finish your real estate license courses as yet? Have you prepared for the real estate exam?
In a way, I almost feel bad for our real estate school students who get their real estate licenses during the holidays. Becoming a Realtor in December can be a tough thing. A common objection that real estate agents get around this time of year is that sellers and buyers say they want to “wait until after the 1st”. While potential clients are waiting you aren’t earning.
I wanted to write an article to answer the question of “Is selling your home during the holidays, a good idea?”
Traditionally, home selling during November and December can be a bit slower depending on your market. People often put it off until the New Year for no real reason other than the perception might be that the first quarter of the next year is better than the fourth quarter of the prior one.
It’s important to recognize that there is no “best time” to sell a property - the best time is when your client is ready to move. There are a few key reasons why selling during the holidays could be the ideal choice. If you have clients that are on the fence about moving now, communicate the following as to why this could be the perfect time to list.
There Are Far Fewer Homes on the Market
Perhaps the most compelling reason to list during the holidays is that there tends to be less competition. Depending on where you live, inventory can be a concern. People are buying homes throughout the year – including the final quarter. At the same time, fewer sellers list at this time, creating more opportunities for your listing to sell faster and for more money.
Compare this to the spring and early summer when there are more listings that tend to hit the market. This increase in supply can contribute to more of a buyer’s market as supply increases which can drive marketing times up and prices to soften. When your home hits the market during the holidays and it fits a buyer’s needs, and it’s the only one that does, buyer don’t have that luxury of tire-kicking. This can work in your favor as a seller every time.
You Might Sell Faster, Too
Along with that increased demand for your property is the likelihood that your home will sell faster. Redfin did a study back in 2013 that found homes listed during the fall and winter months sold 65 percent of the time – which is more than any other time of the year. They also found that homes that sold between December 21st through March 21st sold closest to their listing price.
For sellers, this means a sale more likely closer to list price.
Holidays Buyers Are More Committed
When selling a home during the spring and summer months, you’ll find that many of the showings rarely write offers. While that may be for many reasons, one key fact is that many people looking at homes during summer might not be ready to buy. They are browsing or window shopping during the summer. The weather is nicer and open houses can be a “thing to do” on a lazy Sunday afternoon.
However, buyers looking for a home during the winter months are likely to be far more serious. They are ready and tend to be qualified buyers, too. Consider why this may be. A person buying a home in December probably does not want to spend all of their extra time going from home to home – there’s much more to do. Family might be in town during the holiday season, the kids may be off of school - personal time is at a premium this time of yet. Net-net wintertime buyers are often serious buyers and ready to go.
You Can Create Some Holiday Magic to Show Off Your Home
Though you shouldn’t overdo it, adding a bit of holiday magic to your listing can be an excellent way to move buyers into action. For example, if you live in an area where people routinely decorate for the season, adding a few holiday decorations and creating a formal, but elegant display can help people see themselves in that home next year, doing the same. In other words, the holidays can work for you here.
As a real estate agent, the holidays present an opportunity to light up the fireplace and to bake some cookies, too. Why go to this trouble? You’re setting the stage and creating an opportunity for the potential buyers looking at your listing to see what life could be like if they buy from you. What other time of the year is your home as inviting? The holidays can be magical.
People Moving for Jobs Need Homes Before January
Many people switch positions and relocate around the beginning of the year meaning they might be forced or at least incentivized into buying a home in December. You may find that this creates an influx of buyers for you in the last few weeks of the year. If you live in an area where job growth is plentiful and high-paying positions are common, this is a key reason to take listings now rather than wait until the New Year.
When Is The Best Time To List A Home for Sale?
There’s no right answer to this question. We should be ready to help our clients whenever they need it and do what’s in their best interest. The perceived benefit of waiting until the spring months to list might not be real. Remember that the spring and summer periods are when sellers may have increased competition to sell.
If you are considering enrolling in our real estate license school, please feel free to reach out on Instagram or call the office at 888 768 5285.
We are always happy to help! Just like selling a home, starting real estate school to get your real estate license doesn’t have a “best time”. The best time is when you are ready. There’s no time like the present!
I'm looking forward to having you as our newest student!
Love,
Kartik
|
I don’t think that anyone can deny that nearly every business should have a website of some sort. To the extent you can, it’s far better to control your own digital footprint rather than have the Read more...
I don’t think that anyone can deny that nearly every business should have a website of some sort. To the extent you can, it’s far better to control your own digital footprint rather than have the world do it for you.
According to one recent study, an incredible 93% of all interactions between a business and its customers begin in the exact same way: with a search engine like Google. For that reason alone, the quality and execution of your real estate website is of paramount importance - especially in those fragile early days of your career.
OK so you finished real estate school and have passed the real estate license exam and obtained your real estate license. Your career can begin in earnest. But without the right, thoughtfully designed website to make your presence known, you're not going to get as far as quickly.
Thankfully, designing the perfect real estate website - one that is compelling, that properly speaks to what you do and your value proposition - isn't necessarily as difficult as you might think. All it requires is the right approach, and for you to keep a few core things in mind.
Understand Your Goals
Before you think about the actual design of your website, you need to come to terms with exactly what that design needs to do. Yes, there's a certain element of marketing at play here in that your website is supposed to be selling something. Only instead of pitching your products and services, in our real estate business you're really selling the most valuable asset of all: yourself.
But even more than that, you need to understand that your website is more than just an advertisement. It's a way to make people aware of your unique perspective on the real estate industry, it's an opportunity to establish yourself as an authority in your market and it's a way to begin building trust - essentially all at the same time.
If your site comes off as little more than an expanded advertisement that someone might see when searching through Google, you're not going to be able to do any of those things. Therefore, your real estate website needs to be genuine, honest, informative and legitimately helpful - all in equal measure. These four qualities need to inform every decision you make moving forward, from design all the way down to the type of content you create and share.
Get Specific With It
There's a common misconception out there that the right real estate website needs to appeal to the largest audience that it can. But the truth is that your visitors will rarely come to your site looking for a home across an entire state, or even in a larger city. They're going to be looking for information on current listings in specific neighborhoods, and you need to be able to capitalize on that.
All of this is to say that you shouldn't build your site in a way that claims you're an authority on "real estate in California" or even "real estate in San Diego, California." Hone in on specific neighborhoods and communities that you have the most experience with. Integrate Multiple Listing Service (MLS) and Internet Data Exchange (IDX) search capabilities into your site in a way that allows people to focus their efforts on those places they really want to live in. Establish yourself as an authority at first in a few specifically targeted areas and work on building your reputation - and your client list - over time.
You can always expand your focus later as your business does the same, but in those early days don't be afraid to get as granular as you possibly can.
It's Also About Supplementary Features
Remember that the goal of your real estate website shouldn't JUST be to offer listings for homes in those areas, though. Listing sites are a dime a dozen - the chances are high that people will have seen information about a lot of those current homes in other areas before they ever stumble across your domain.
Instead, you need to go above and beyond that idea - turn your site into a true informational and educational resource in every sense of those words. You should absolutely be writing blog posts that give insight on current trends in the industry. Poke around my blog. I’ve been in our business for almost 20 years and I have written over 200 articles and recorded over 1,400 videos on real estate topics. This helps to establish me as an industry expert. Remember, however, that I started out just like you - 0 followers and 0 content. It takes time and consistency to make it work. The sheer volume of content being produced every second is making it harder and harder to get noticed. This underscores the fact that you have to pump out as much high quality content as possible to get known.
So what to do? As a new agent take the time to write a few hundred words that take an important real estate topic and break it down in a way that is easy for anyone to understand. Write about what people should look for in a first home and what they shouldn't be focusing so much of their attention on, for example. Try and integrate videos, a comment section, mortgage calculators and other things that will make the house hunt as easy as possible.
Don't forget that you're not just trying to get someone to buy or sell a home. You're trying to convince them to buy or sell a home with YOU. To get to that point, people need to see you as an authority - articles and videos go a long way towards establishing precisely that.
Reviews, and Lots of Them
Last but not least we arrive at the concept of reviews - something that is particularly important in terms of your long-term success in real estate.
People aren't just going to take your word for it that you know what you're talking about. Real estate has always been built on relationships - someone wants to buy a new home and they immediately turn to their friends and say "hey, do you know anybody I can call for help?"
The Internet operates in exactly the same way, to the point where a massive 90% of people who responded to a survey who read online reviews claimed that those positive reviews absolutely influenced their eventual buying decision.
When you close on a deal with a client, ask them to write you a review. Then, get that review up on your website as soon as you can. Then, share those reviews on social media sites like Facebook and Twitter - which should also be integrated into your site. Do this as often as you possibly can.
This will help you establish social proof, which truly is the currency of the modern era. The more someone sees that others value what you do, the sooner they'll start to value it, too. At that point, you'll have a steady stream of hot new leads headed straight to your door.
At the end of the day don’t be afraid to shine and show off a little. If you can add value somewhere by earning a 5 star review or writing a blog or recording a video do it! Don’t be afraid to show the world that you are a real estate expert and you know what you’re doing.
If I can be of service, please let me know. You can connect on Instagram here or reach out by phone at 888 768 5285.
Love,
Kartik
|
It’s Saturday and I’m at a local coffee shop banging away on the keyboard. I like working on stuff like this on Saturday and Sundays. It’s quiet.
Yes i have a few people in the office today, Read more...
It’s Saturday and I’m at a local coffee shop banging away on the keyboard. I like working on stuff like this on Saturday and Sundays. It’s quiet.
Yes i have a few people in the office today, but it’s nothing like the sometimes pandemonium associated with a weekday.
I wanted to write a quick article about why weekends matter to the entrepreneur because it’s not hard to argue that there’s never been a better time to start your own business. Between the ability to reach a large audience and access to technology, individual people with great ideas and a solid work ethic have a better chance to succeed in today's market. However, that does not make success an easy thing to achieve.
Statistics indicate that around 62% of adults think that becoming an entrepreneur can be an excellent career. When you break down those numbers, though, you'll find that nearly 50% think they themselves are equipped to become an entrepreneur and 40% believe it's easy. Let's just cut to the chase — the people who think it's easy are mistaken. Ask any entrepreneur who has even a modicum of success and they have likely taken ridiculous risks and worked very hard to make their baby fly.
Notwithstanding those “entrepreneurs” who have “Phds”. If you're wondering, a PhD means “Papa Has Dough”. For the most part, I’m not talking about those who had a family member give them money to “start their own thing”. I’m talking about the real entrepreneurs who started from nothing and actually built something great.
Entrepreneurship sounds like a great business because Instagram and other social media outlets inundate us with information about the benefits of being self-employed. Some of this propaganda includes an excitement about the work you're doing, the ability to make a living doing the things you love and being your own boss. What you might not be aware of is that small business owners often work longer much longer hours than their employees. At least they do if they're building a successful business.
I'm not totally complaining about the glamour that the Internet has put on the business of real estate. It's helped push lots of people to enroll in our real estate license school and pass the real estate exam.
Still, it's important to remember that there is only so much time in a day and time is your most valuable commodity. This is why many entrepreneurs work every day and set their schedules so that they can optimize the time when they're working. If you have a great idea and are launching your business, here are some reasons you should consider working weekends.
Why Entrepreneurs Don't Follow the Typical Weekend Schedules
For a typical employee, there are set number of days where work is required and specified days off. The most common model by far is Monday through Friday, 9-5. This may vary but, for the most part, Saturday and Sunday are days off to catch up on personal errands or spend time with family and friends. These are the reset days for the typical working world.
For an entrepreneur, taking these days off completely may not be possible if they want their business to thrive. Because the rest of the businesses they deal with are likely closed on one or both of those days, the weekend becomes a fantastic time for entrepreneurs to catch up, refocus, and innovate.
This doesn't mean that you have to work around the clock to run a successful business. In fact, doing that can easily lead to burnout. A work/life balance is important for healthy relationships outside of your career. But most entrepreneurs do find ways to use their hours creatively to improve their productivity. This might mean taking downtime on a weekday so that you can work through the weekend. It might also mean working part of the day on a weekend so that you can participate in social events around your work schedule.
Benefits to Using Weekends for Work Time
There are a few reasons that entrepreneurs work through many of their weekends. Here are a few benefits to working through other peoples' downtime:
• Fewer Distractions. Working on a weekend allows you more time to focus uninterrupted. This is true whether you're a business owner or work on a team. Because your clients and other professionals usually don't work on Saturday or Sunday, you won't have to spend time fielding calls from clients, attending conference calls, or attending to different things that might pop up during a regular business day. This gives you the uninterrupted time you need to focus on a single task.
• Time to Plan. Weekdays tend to fly by with many demands and few chances to catch up. This is especially true for small business owners who often take charge of multiple aspects of their company. With the rest of the world off the clock, the weekend gives you time to assess your previous week. You can check to make sure you've stayed on schedule with assigned tasks (and catch up on tasks you didn't get to). This time is also a great way to plan ahead for the following week. If you choose a day over the weekend to plan and assess your progress every week, you'll be more likely to keep your benchmarks in mind and achieve short term and long term goals.
• Less Rigid Schedule. Working on weekends doesn't have to feel like you never get a day off. You don't necessarily have to work from the office and you can even plan your hours to suit your mood. I’m sitting in a coffee shop right now with my laptop and a latte. It feels little less like work when I’m in a pair of Jordan’s and jeans as opposed to a suit and tie.
There Are Down Sides, Too
Successful entrepreneurs build their businesses to a large degree because they've put in the work and effort. That does come with sacrifices. While it's true that many small business owners use weekend hours to help them get ahead, that doesn't mean it's always easy.
For lots of us including myself the work is something we love and are excited about. We often enjoy putting in long hours and have a sense of pride and purpose in what we are doing. However, that doesn't mean it's always easy to spend your Saturdays and Sundays working when the rest of the world is getting that time to take care of their personal needs.
Here are a few negative points to working weekends that you should be prepared to navigate:
• Loved Ones May Not Understand. If your significant other is on the “regular” world schedule, they may not understand the long hours you put in at your company and it can lead to arguments.
• Most Personal/Social Obligations Are On Weekends. This is especially true if you have children but even single people will find their social calendar is mostly full of events on weekends.
• You Miss Out On Some Great Events. It's not all about obligations. Working those hours also means you'll miss out on fun events that you'd enjoy attending. A football game in the middle of a Sunday might be something that is playing on the TV or online in the background as opposed to you being able to physically attend the game.
Building a thriving business means working longer hours than you would as an employee. That's simply a truth. Weekends offer you hours to catch up and get ahead of your competition.
I’m always looking to bring you value. If there is anything I can do to help, please reach out on Instagram or call the office at 888 768 5285.
If you are interested in becoming a real estate agent, please call me or my team. We are happy to be of service.
Love,
Kartik
|
A little different type of blog from me this time. I wanted to write something for those that have already finished our real estate license courses and are working in the field.
I was browsing some Read more...
A little different type of blog from me this time. I wanted to write something for those that have already finished our real estate license courses and are working in the field.
I was browsing some listings on the MLS recently and was horrified at some of the pictures agents were uploading but even worse was of the copy used to describe the listings. Problems with syntax, punctuation and tense were not uncommon.
If you have a listing now or are going to take one soon, I would recommend making sure your ad copy is extra tight. Remember that besides pictures, the ad copy is the most important part of your listing marketing material.
There are really no hard and fast rules for writing real estate ad copy, but guidelines exist to help you capture reader attention and generate responses. The goal is to highlight enough desirable features to prompt an online visitor to click through to the full listing, or to prompt a reader to call for additional information.
The prime directive is to avoid the temptation to "oversell." Use superlatives in moderation and be sparing when including value judgments in your descriptions. Remember that only one home can be the "best value" in a neighborhood, and even that is subjective to the point that it has little meaning to a prospective buyer.
Readers tend to gloss over phrases like value-priced, priced to sell and won't last long. Common terms like amenity-filled, chef's kitchen, memorable views, and stunning architecture are overused and ineffective. The goal is to be descriptive in a manner that is meaningful, while still leaving something to the imagination so that the reader wants to know more.
Writing Real Estate Copy 101
Writing ad copy that gets results isn't difficult, but it can require thought. Here are specific elements you can employ to make your efforts more effective.
First, define your target audience: Online property descriptions will have a different focus, and a different tone, than a printed brochure or an open house handout. But all copy should include, at minimum, a headline or title. It might be as simple as the property address; however, if you can use a catchy descriptive phrase, do so. Something like "Come Home to a View of the Ninth Hole" would appeal to someone looking for golf course property.
Then, add gas to the fire of imagination: Place yourself in the potential buyer's shoes and provide a "hook" that makes them want to continue reading. Focus on the lifestyle that can be theirs if they move into the home. "Enjoy a refreshing cool drink on your expansive poolside patio as you look forward to your next tee time at the award-winning course adjacent to your property." A brief description of the overall appeal of the community and the home's general description can be included here.
It can be as brief as you wish, or it might run to several paragraphs, depending on actual space and your purpose. Say something like: "This 3-bedroom, 4-bath, 3-car garage contemporary offers everything necessary for living the good life -- privacy, convenience to schools, shopping and entertainment, an easy commute to the business center, and abundant leisure time enjoyment options with neighbors and friends."
Finally, highlight the most important home features: This is where you should strive to paint meaningful word pictures. Be descriptive, but not overly detailed. Leave some specifics out. You might say something like "Old-world craftsmanship is evident in the finishes used throughout the home's 4,200 square feet, especially in the fine wood paneling and bookshelves of the home's private office."
Or, you can point to the evidence of upscale options and trendy finishes that "include an eco-friendly, sustainable choice of recycled glass countertops in the kitchen, low-VOC paint throughout, and main-level flooring crafted from reclaimed timbers."
Whatever you write in words is always better when accompanied by professional photographs that graphically illustrate the same features. It's not necessary to include a book's worth of photos, but words and pictures are better when they go hand in hand. There is little more disheartening for a prospective buyer than to read a glowing description of a home spa retreat only to find that there is no photograph of the space included with the listing or in the brochure. Coordinate your efforts with your photographer and your marketing team.
Keywords and Buzzwords
Define your potential market. Imagine what prospective buyers would type in to an online property search: Don't simply toss around phrases like "high-end finishes, family-friendly neighborhood, or spectacular views." Instead, utilize popular keywords to generate interest, adding filters and qualifiers as needed, such as the city or subdivision. Examples include:
• Beachside Cottage
• Ski Retreat
• Urban Condo
• City Lights
• Mountain Views
• Polished Wood Flooring
• Gated Community
Know Your Market
The copy you write about a high-end home will naturally be different from the copy that describes a mid-price starter home, but the same principles apply. However, don't make the mistake -- in either case -- of believing that buyers on one end of the price spectrum are any less concerned about quality and value, energy savings and sustainability, style and safety, or built-in features and community amenities.
Make every effort to describe a lifestyle rather than listing specific features. Weave specifics into general descriptions of rooms and spaces. While studies have confirmed that online readers appreciate skimmable copy and bullet points, lists can be overused. Typically, 8 to 10 bullet points are sufficient. Always stop short of making your property description simply a "laundry list" of features.
To write meaningful copy, acknowledge that there are some home features that should be specifically mentioned:
• A backyard pool, because it can be either a selling point or a deal killer, depending on the buyer;
• An eat-in kitchen;
• Ensuite baths for each bedroom;
• A detached garage, casita or other type of auxiliary building;
• Specialty spaces, including an exercise room, home theater or media room, finished attic, in-law or au pair quarters; and oversize lots or adjacent acreage or public land.
• Solar panels, or alternative energy provisions, including 240V electric car charging stations.
Use your in-depth knowledge of the local market to determine what other features deserve mention, knowing that your decision might vary substantially from one neighborhood to the next, and even from one season to another.
Monitor reactions and responses you receive, and adjust the way you write your next property description based on the feedback offered by clients.
Finally, never forget to include your contact and broker information (along with Department of Real Estate license number) and a call to action. You never know who will become your next client, or when and how they will appear. Ensure that you can be reached by anyone in need of your services!
Of course if there’s anything I can do for you, including helping you get started in our real estate license courses, please let me know or call 888 768 5285.
Love,
Kartik
|
