A resource for real estate agents, brokers, buyers, sellers, and people interested in the most up-to-date real estate information.

Pleasure in the job puts perfection in the work.

- Aristotle (384 BC – 322 BC)

CUSTOMER CONCERN: You’ve done everything you were supposed to do: you connected with the buyer, you did your research, and you showed your clients specific properties that exceeded all of their wants. You’re hard work is about pay off as your customer thinks that one of the very first homes you showed them is in fact perfect!

BUT (imagine the sound of brakes screeching to a halt), your customer is worried that they haven’t seen enough homes and there might be one that is “more perfect” out there somewhere.

How do you respond?

RESPONSE: It’s very important to tell your customers that if the home in question is indeed “perfect,” it makes no sense to risk losing it. It’s quite possible that while you’re out showing them other homes (homes that, while they might meet the needs of the customer, might not have that extra something, that intangible, that makes it “perfect”), another buyer may swoop in and buy the “perfect” home right out from under them.

Reinforce with your customers how very lucky they are to have found that “perfect” home right away and that there are plenty of buyers out there who may spend weeks or even months searching for that “perfect” home. Besides, it’s one thing to have found the perfect home, but it’s even more exciting to move in to that perfect home!

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As a real estate agent, sometimes it feels like you always have to be on the go, always working, always available, always doing something, anything because for all you know there’s someone else out there burning the midnight oil when all you want to do is just take a breath and maybe watch TV or read a book.

What’s the worst that could happen to someone who’s always on the go? Certainly, they make a lot of money, right? They’re outperforming and outselling everyone else in the office, right? So what happens when that candle you’ve been burning at both ends finally runs out? Well, it burns out.

One of the first casualties of burnout is the passion and enjoyment for what you exhausted yourself on, real estate, in our case. Without realizing it, little by little our efforts become less and less effective. As we all know, a miserable and tired agent is one not cashing commission checks.

So how do you go about preventing a real estate burnout? Here’s a list of suggestions and see what works for you.

1. Systematize every aspect of your business. Without systems there would never be enough time to get it all done. Give yourself the ability to work more efficiently! A system that will allow you to improve communication with every segment of your business should be priority #1.

2. Reclaim a sense of balance in your life. Dedicate time to be spent with family, friends, and to enjoy a personal life. That’s what we’re working for n the first place, right? To have the ability and freedom to enjoy our lives!

3. Create a daily work schedule for yourself. For many agents, this provides some needed discipline to get tasks done and to know at what time their work day starts and also at what time it ends. Without a well-defined schedule, you may feel guilty about spending time away from work. This guilt drives many back to the office. Without a schedule, balance would be impossible for many!

4. Share your schedule with your clients. Place it on the back of your business card or on your website. This shared timetable allows your to enjoy your personal/family time without interruption and it would provide you with more energy to provide better customer service to your clients.

5. Schedule a daily workout in your daily plan. Exercise is a great source of energy and mental refreshment. Without health there could be no wealth!

6. Delegate as many of your responsibilities as you can

7. Prioritize your daily tasks. Make sure that the most important and difficult ones are completed first every day.

8. Eliminate time-wasting chores. See how much you can purge from your daily activities. Replace wasteful actions with productive tasks.

9. Make building your individual brand recognition a priority. By being the most recognized product of its type in the area, clients will seek your services and you can spend less time chasing new customers.

10. Develop a system to anticipate problems before they materialize. A problem resolved in its infancy saves hours instead of solving a much bigger crisis later on.

11. Set aside an hour a day per week to analyze and improve your business plan and systems. It might take some time to implement these changes into your business.

When they are in place, I suspect that these changes will not only allow you to enjoy your life, they will also dramatically improve your production!

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You may have to forgive me, but I simply love it when stories like these come across my desk from one of our agents.

“I just closed my second sale this year from HouseHunt,” said David Olivarez, our exclusive member agent with HouseHunt.com who represents McAllen, Texas.

A long time real estate professional, Olivarez services all of Hidalgo County, and works extensively to help Buyers and Sellers meet their real estate goals. Olivarez is additionally a Certified Texas Affordable Housing Specialist and works with Spanish speaking customers.

“I am impressed by the number of leads that I get weekly from HouseHunt,” David said. “This system has a lot of potential and I look forward to closing more deals very soon.”

I am proud to know that our system is allowing David to increase his income and to expand his pipeline of customers that will no doubt ever increase his earnings exponentially. David says that one of his goals is to build a team of agent, and between you and me, I see no reason why that goal won’t be achieved sooner than later!

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Drive thy business or it will drive thee.

- Benjamin Franklin (1706 – 1790)

CUSTOMER CONCERN: The good news is that your buyer likes the house and wants to put in an offer. The bad news is that they want to start with a low offer in hopes of leaving room to negotiate.

How do you respond?

RESPONSE: (NOTE: This response is intended to be used for private home sellers – it is not appropriate for short sales or bank owned properties) Buyers who start negotiating with a very low offering price, in the end, usually pay more for a property than a buyer who begins with a reasonable offer.

A low offer can anger the seller. An angry seller negotiates on emotion instead of reason. Once a seller is offended, they will usually be much firmer with their initial price. If you present to a seller a non-offensive, reasonable, first offer, he will be more likely to accept it.

Of course, this response assumes that the subject property is priced correctly to begin with.

Has anyone out there in activerain land had any experiences like this, or does anyone have a Customer Concern you’d like to see answered here in the future?

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The person who makes a success of living is the one who see his goal steadily and aims for it unswervingly. That is dedication.

- Cecil B. DeMille (1881 – 1959)

Not many real estate agents are building, growing, and establishing a team for their business right now. Fewer first-time home buyers, a slower buying cycle, and more difficult financing options have made it a difficult road to travel. However, a solid plan can be a game-changer… even in this economy.

Bruce LaMaster is a HouseHunt.com exclusive agent in the Sacramento, CA area who has successfully been building and growing his real estate business for some time now. He is adding agents to his team and setting sales goals for everyone. So, how is Bruce doing it?

Bruce and his expanding team are using HouseHunt.com to establish a constant source of active and legitimate buyers from the Internet. HouseHunt keeps their pipeline full, as well as their schedules.

“I’ve closed 13 HouseHunt leads this year for about $3.1 million,” Bruce said. “I currently have one HouseHunt lead in escrow for $700K and we are listing their current house for $500K.”

They also have multiple HouseHunt leads in escrow right now.

Bruce has been a successful HouseHunt member for awhile primarily because he has a plan and works very hard at his success. He and his team provide fantastic service, consistent follow up, and view every single lead as a potential client for life. That attitude will consistently make them a winning team.

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Welcome to the second part of our two part series covering HouseHunt’s Online Customer Conversion Checklist.

On tuesday, I covered all of the “don’ts” as it applies to closing online customers, and today I’m going to share with you a list of all things you should do beginning at the moment you receive your online lead.

Immediately after receiving a lead (Key to Immediate Sales):

Do: Contact every customer immediately – Leads will go bad quickly

Do: Call the customer if there is phone number given on the lead

Do: Email the customer a personalized email if an email address is given

Do: Use text message if you are not using a Blackberry to receive leads

Do: Delete all leads that have a bad email and a bad phone number

Do: Provide the information asked for on received lead form

Do: Enter the lead into a customer database system. HouseHunt’s Total Internet Marketing System is a perfect system for customer management

Do: Assume that even unresponsive customers will turn into future business

Lead Follow Up (Key to Building a Residual Business):

Do: Plan on following up with all customers until they buy (many sales are closed after years of contact)

Do: Use the following methods of contacting your prospects:

1. Automated follow-up systems included with Total Internet Marketing system

• Monthly Newsletter – Good Neighbor Newsletter
• Holiday Greeting Cards
• Action Plan by lead types
• Send listings automatically

2. Handwritten personal notes and real estate information

3. Periodic phone calls

Building Your Brand (Key to being Recognized as the Community Expert):

Do: Create your resume so it can be displayed on your website

Do: Enter several client testimonials so they can be displayed on your website

Do Remember Each Lead is an Opportunity for Business. The one customer you don’t give 100% to may be the sale you lose!

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Welcome to the first of a two part series on HouseHunt.com’s Checklist for Internet Lead Conversion. Specifically, we’re going to focus on the do’s and don’ts.

Today we’re going to look at a list of don’ts, so make sure to come back tomorrow for all the “do’s.”

Don’t Miss the Opportunity to create an incredible Internet Business – Remember: An Internet customer is not a piece of paper or an email, it is an actual person. Never forget that.

Don’t wait to contact your leads – Most customers sign with the first agent who makes contact and provides them with the information they are looking for. Be that agent.

Don’t assume that the price range indicated is the actual price range the prospect can afford – How many times have you heard of a customer seeing “the perfect home” and suddenly being able to afford more than you thought.

Don’t discard unresponsive customers – Keep them on a repetitive contact plan and don’t give up on them. When they’re ready to move, they’ll respond.

Don’t wait for a response before sending information – Get you services and product (which is YOU) in front of every customer you can as soon as possible.

Don’t give up phone calling – Most sales don’t happen until sometime between the 5th and 12th call.

Don’t assume that an unresponsive customer is a bad customer – Remember that the moment they respond, they become a “good” customer. Keep giving them information to respond to.

Don’t stop sending listing and marketing materials unless they specifically ask you to stop.

Remember, come back tomorrow for a much larger list of the Do’s when it comes to converting online customers!

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Ever been told, “You need more inventory. Why don’t you call a few expired listings?”

Ever responded along the lines of, “I’d rather commit suicide than call an expired listing. They scare me to death.”

In other words, you’d rather expire than call one.

Without exception, regardless of market conditions, the agent with the most quality listings is in control of the marketplace. I have never seen a valid exemption to this rule. You list! You prosper!

With this thought in mind, to maximize the results of one’s daily activities, you must determine how to most effectively and quickly build your listing inventory. It is relationship building that produces, over the long haul, a steady stream of listings. Relationships build residual income and enduring success. However, building relationships is like building a home. It takes time. The results are often deferred for 12-18 months.

Most agents don’t have the financial ability to survive until the building of a loyal clientele starts paying dividends. They need to find some way to generate income during the building process. Those car and house payments don’t make themselves. They need money now! They need listings immediately!

That said, the most effective tool to quickly create a substantial listing inventory is a powerful expired listing system, especially in today’s real estate environment. Working expired listings can be an extremely efficient process. Here’s why:

• We know the “expired” homeowner (who is not dead, but may feel has had a near death experience with the last agent) has an interest in selling.
• We have a homeowner who knows an adjustment must be made to get the home sold.
• We have a homeowner who knows there is something the prior agent didn’t know – that unknown “something” is what must to be done to sell his/her home.

In other words, we have an educated homeowner who is willing to listen and learn. It doesn’t get any better than that!

Why is it then, if working expired listings is an effective and efficient way to generate income quickly, that so many agents absolutely dread it? Rejection. It is something all sane agents fear. I don’t care what any trainer says; rejection is not fun and is not a necessary part of our business. Put bluntly, rejection sucks! It is not good for you! It is not good for our industry!

99.9% of the rejection in an agent’s career is self-induced. Agents are rejected when they call expired listings because of their approach. They tell the homeowner everything he doesn’t want to hear: how wonderful the agent is, how they’re God’s gift to the real estate world, how they can sell a home in 15 seconds or less, and so on. You can bet the owner’s prior agent, the one who did not get the home sold, told the seller everything all the realtors who call are now saying. Every agent who calls the expired is #1… at least somewhere (whether they’re the #1 agent at their desk or the #1 agent in the bathroom at their office).

The homeowner has heard it all before and doesn’t believe a word of it and to no one’s surprise, they reject agent after agent. The key to success, when calling expired listings, is to be different.

The secret to getting in the door to do an “expired” presentation is to offer a solution to the homeowner’s problem: that they own a property they no longer want to own. The solution is, of course, to discover what caused the home to not sell (usually price or condition) and to then implement a strategy that eliminates the cause. Once the cause of the problem is gone, a sold sign in the front yard will follow shortly thereafter. The following script, because it answers the “why” question for the owner, does a great job of getting you in the front door of expired listings. Try it. You’ll like it!

• Good morning, Mr. / Mrs. (Smith). I apologize for calling so early. You have probably been contacted by several real estate agents. I sincerely hope it hasn’t been a problem for you.

• My name is (your name) with (your company).The reason I’m calling is that the listing on your home is showing as having expired.

• Have you re-listed your home?

If “Yes” – “Thank You! I’ll do all I can to help your agent get it sold.”

If “No” – “Do you want to sell?”

If they don’t want to sell – “Are you going to put your home back on the market in the future?”

If they do want to sell – Continue with the following:

• Do you know why your home did not sell? (Wait for response)

• Mr. / Mrs. Smith, when a home is available to the buying public and doesn’t sell, it is always for one of 6 reasons. These reasons are: price, terms, location, condition, marketing, market conditions.

• Which of these six reasons do you think caused your home to not sell? (Wait for a response. You may have to repeat the six reasons.)

• I’m asking this question because it is critical, when there is a problem, to identify its cause. Until the cause has been identified, the problem cannot be eliminated.

• I have a the expertise to pinpoint the exact reason your home did not sell. If you allow me just 10 minutes of your time, we can quickly identify the reason your home is not sold. Once the cause of the problem is recognized, I can help you make the corrections needed to place a SOLD sign in your front yard.

• There is no cost and no obligation for this service. And, you have my word that there will be no high pressure sales tactics!

• Is there a time when we can get together?

Before you use this script, you must master it. Of course your goal when using this script is to schedule an appointment as soon as possible. Be sure to go to the meeting with a complete listing presentation package. Be prepared to present and to write. Once you are face-to-face with the homeowner, the rest of the process comes easily.

You will be competing against other agents. Be the first agent that gets an appointment and 9 times out of 10 times you will leave the house with a listing agreement. If you fail to schedule an appointment, don’t quit. Be persistent! Follow the call with a mailing and follow-up call campaign.

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How poor are they who have not patience!

- William Shakespeare (1564 – 1616)

A good thing is always worth the wait. Especially when it comes to a business investment that is sure to bring legitimate growth and profit.

A few months ago, Larry Boatman of Keller Williams Integrity Realty, made the decision to invest in his business by choosing to become a HouseHunt.com exclusive member. Right away, the customers began to roll in rather quickly, but the natural buying cycle was playing a role as well.

However, Larry knew HouseHunt was a good move in the long-term and remained patient and persistent. One week ago, Larry contacted HouseHunt with some great news.

“We did it!” Larry said. “First HouseHunt lead closed. Next one is set for August 12th.”

Of course, a sale is always something to celebrate, but Larry is also excited and optimistic because his pipeline of customers has grown significantly over the recent months as well. Larry has now placed himself in a prime position to enjoy even more success over the coming months.

His hard work and patience have created big opportunities, which will in turn create big profits, and in the process has become a prime example of patience paying off…literally!

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Hello everyone! I’m excited to share our latest press release containing some great data for the second quarter of 2010 as compiled in our most recent current market conditions survey. Hope you enjoy!

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Repeat Buyers & Investors With Cash Boosting Home Sales & Prices In Many Markets, New HouseHunt Survey Shows

For the first time in nearly three years, repeat buyers and investors have overtaken first-time buyers as sales leaders once again in the nation’s housing market. As a result, prices of bank-owned REOs and properties involved in short sales are being bid up by multiple offers and cash buyers in many neighborhoods, according to the latest HouseHunt quarterly current market conditions survey.

“The current ratio of 58% to 42% favors repeat buyers,” said Michael Bearden, president and CEO of HouseHunt, Inc. “This is an increase of 10 percentage points over a year ago and 24 points over six months ago. In a more balanced market of supply and demand, repeat buyers usually lead by a two-thirds ratio.”

Bearden continued: “Even though there are still problems to be solved, the results of our 2010 random survey is good news for home sellers who have been unable to sell and for lenders reluctant to lend because of price depreciation and loan defaults. Any meaningful recovery must start from the bottom.” In other survey data provided by member-agents in the second quarter of this year, 53% of respondents reported that their customers are getting more than 95% of their asking prices, on average; 60% reported multiple offers; 52% reported zero to 10% appreciation in the past year; and 77% reported that listings are taking more than 60 days to sell. The buyer-seller ratio is 53% to 34%, favoring sellers, with 13% saying the ratio is about even. Eighty-two percent reported a good supply of unsold inventory in all price ranges – up slightly from the first quarter of this year. Re-emergence of repeat buyers and competition from cash-rich investors is triggering sales activity at the grass roots level. Typical comments include:

Chris Bessette of Keller Williams Classic Realty in Orlando, FL, exclusive HouseHunt member-agent for Orlando-Metro West and Independence in Orlando. “Our market is great right now and I’m busier than I’ve ever been,” he said. “I’m working with several investors. One in particular who is buying eight to 10 homes a year. REOs and short sales are dominating our market and make up about 70-75% of our sales every month. We’re also seeing multiple offers within three days on properties under $200,000 that qualify for financing,” Bessette concluded. “I’m making good money, hiring assistants and increasing my staff because I can’t handle everything on my plate right now.”

Grace Miralle of PMZ Real Estate in Modesto, CA, exclusive HouseHunt member-agent for Turlock, CA. “We’re definitely seeing increased repeat buyer activity. Many of them own homes and are purchasing additional properties as rentals,” she said.

“Our first-time buyers are also actively competing with cash investors with 20-30-40% down payments. On average it takes 10 offers for first-time buyers to buy a home,” she continued. “Short sales are dominating our market, competing against bank-owned properties. Average home price in the Modesto area is $135,000 and $140,000 in Turlock,” she said.

David Frezza of Keller Williams Metro Realty in Rockville, MD, exclusive HouseHunt member-agent for Bethesda, MD. When asked if he is seeing increased activity from repeat buyers, he answered: “Absolutely! Probably 90% to 95% of my customers are repeat buyers. Home sales are definitely up this year and we’re starting to see multiple contracts from buyers.” Frezza continued: “My area, located just inside the Washington, D.C. beltway, offers very established neighborhoods and lots of old Cape Cods on valuable land. Average home price is $775,000. The attraction for buyers is that it is very close to downtown D.C. without actually being in the city. The schools are very, very good. Residents have established careers and high median income. Our stable work force insulates us from housing price ups and downs.”

Whitney Conn of Keller Williams Realty in Louisville, KY, exclusive HouseHunt member-agent along with partner Saunie Sparks for Crescent Hill, Indian Hill and St. Matthews in the Louisville metro area. “Yes, definitely! We are seeing the return of repeat buyers. In the past three months all of our clients have been repeat buyers,” Conn said. “The Louisville housing market was recently ranked second best in the country. We tend not to experience the housing highs and lows as dramatically as the rest of the country.” Average home price is $325,000.

Charlotte Walker of Coldwell Banker Residential Brokerage in Potomac, MD, exclusive HouseHunt member-agent for Chevy Chase, MD. “I’m seeing an increase in business from repeat buyers mostly,” she said. “My Internet website is only for buyers so I get more buyers than sellers. My marketplace is a busy, stable area because of its proximity to Washington, D.C. Average home price is $770,000 but I’ve had sales of $300,000 and some for $900,000.” Walker also thinks that extension of the federal tax credit closing deadline to September 30 will be a plus for her buyers.

(Note: On June 30, 2010, Congress passed an extension of the Homebuyer Tax Credit closing deadline, the Homebuyer Assistance and Improvement Act (HR 5623). The extension applies only to transactions that have ratified contracts in place as of April 30, 2010, that have not been closed. An estimated 180,000 home buyers who signed a contract in good faith to receive the tax credit could benefit from the extension.)

Bill McQuaid of Cashin Company Real Estate in Burlingame, CA, exclusive HouseHunt member-agent for Burlingame and Hillsborough. CA. “With average home prices of about $1.3 million in Burlingame and $2.4 million in Hillsborough, we mostly see repeat and move-up buyers. You don’t see too many first-time buyers in these price ranges,” he said. “Our business was very good earlier in the year but seems to have dropped off. Average time on the market between listing and sale is still 30 to 60 days. Our inventory of unsold housing is actually picking up and is higher than it has been.” What might improve your local housing market? “Probably more confidence in the economy. How well the stock market is doing also affects our housing market.”

Chuck and Susan Bandemer of Bandemer Realty in Granbury, TX, exclusive HouseHunt member-agents for Fort Worth Central, Fort Worth North-Alliance and Mira Vista, Mansfield and Granbury, TX. “We’re having a big influx of relocation business due to job growth in the oil and gas business, with more buyers than sellers. First-time buyers are also active,” Chuck Bandemer said. “Our sellers are getting 95% to 100% of their asking prices, on average. Financing is available to qualified buyers. Average time on the market is 60 to 90 days. Home values are pretty solid due to our job growth.” Average home prices range between $150,000 and $200,000.

HouseHunt’s Quarterly Comparison Chart For U.S.

Bold indicates most current numbers (2nd Quarter 2010).

*Total includes investors

HouseHunt, Inc., is a consumer-oriented Internet firm that provides free information and services to homeowners, home buyers and home sellers in 47 states through its member-agents and through its primary web site, HouseHunt.com.

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