I just want to get paid. What’s wrong with that?

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

I don't know if this is a trend or not but negotiations with Buyer's Agents seem to be getting really easy. Supposedly a lot of Realtors haven't had a closing in a while and are very anxious to get deals negotiated and pending. Kind of scary I guess if you are a Buyer but being a Seller's Broker, I like it. I was fortunate enough to place a couple of my listings pending this week. The last one I did, caught me a little off guard with the simplicity. The characters were a desperate Buyer's Agent, a willing and able Buyer, a Seller that needs to sell and of course me, the Seller's Broker.

This particular property had been on the market for about 11 months, listed with the Seller's son. The Sellers had moved back up north earlier this year and had hired their son to sell the house. The son works for one of my local competitors. Well, after 11 months of no activity and no communication with their Realtor(son), the listing expired and they called me, off of my expired letter. Originally, the property, was listed at $225,000 and had eventually been reduced to $199,000. Unfortunately, the house is only worth $189,000. Anyway, I listed the property about 60 days ago and Range Priced it from $179,000 to $199,000 trying to sell as close to $189,000 as possible.

This past Saturday I received an offer, coming in from another Realtor, for $175,000. Now this Realtor is an independent Broker, like myself, and owns a small Real Estate company. We've done deals in the past, so I struck up a conversation and we chit chatted about business. I guess things have been a little slow in his neck of the woods (my market) and he hasn't had a closing for awhile. I told him I would present the offer to the Sellers and get back with him the following day. Now, being the good little Realtor that I am, I prepared a Seller's net sheet, attached it to the purchase offer and E-mailed it to the Sellers. I let them know that it was a low offer but they should at least counter offer it, since the Buyers were pre-approved and had a little bit of a down payment. My Sellers were really tempted to accept it but decided to sleep on it. The next day they called me and wanted to counter at $180,000 and asked me what I thought, and did I think the Buyer would balk. The Sellers really need to sell this house. Well, since they asked, I answered, I told them I thought $180,000 was too low and how about we counter at $185,000, if the Buyers balk, we can always go back again.

The Sellers were a little nervous about this but agreed it would be nice to get another $10,000 out of the Buyers, if possible. So we countered at $185,000. That night the Buyer's Agent called me and asked if the Sellers would come done any further. I could tell he was really nervous about getting this deal together so I said "Well, I'm not sure, did your Buyers want to submit another counter offer?" This is the part I like, he said, "Uh, no, no lets just go ahead and do it at $185,000, I want to get it pending" Now folks, I could be wrong, but I got the impression that maybe his Buyers were wanting him to present another counter, verbally, to see what the Sellers would say. Well, I can tell you what the Sellers would have said, they would have said "YES". In fact they would have said yes if the Buyer stayed pat at $175,000. But, because the Realtor was desperate for a deal, we did the deal at $185,000. Needless to say, my Sellers are thrilled that their house finally sold and even more thrilled that they took my advice and ended up with $185,000.

But what about the Buyers? Well, they did get a really nice house for the money, and in reality, they would not have found a better one for that price. So hopefully, they will be happy as well, even if their desperate Realtor may have cost them $10,000.

There are two morals to the story. Please, never, ever put your need for a commission before you customers/client's needs. And if you are a consumer, it would be wise to ask your Realtor when was the last time they had a closing.

So that's it, my little story for today. Is it real or is it make believe? What say you?

The Chicken or the Egg?

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

The Chicken or the Egg?

Ah….the age old question. Who really pays the commission? The Buyer (chicken) or the Seller (egg)? Well, let me see if my limited intelligence can come up with a suitable answer, at least from my point of view. OK here goes…..a Real Estate transaction is an equal exchange of value. The Buyer brings money the Seller brings property. Out of this equal exchange the commission is paid. In my opinion, the commission is paid by the Seller from the value of the property from the money brought or borrowed by the Buyer.. The value of the property is based on current market conditions and an appraised value that is determined by using the selling price of recent comparable properties.

We can assume then, that the recent sales included an amount that was used to pay the commission in those particular transactions. Therefore, the commission is in the value of the property. Since the Seller, is the one bringing the property to the table, it only makes sense that he also bringing the commission.

So what we have so far is: Property value + commission paid = recent sales price traded for money borrowed @ 6.5% over 30 years + funds contributed by buyer rebate company – 6% non-negotiable commission (as per DOJ) + 1% discount on listing side commission (due to quick sale) – $395 per transaction fee paid to absentee Broker.

Now that I have cleared up, that 100 year old dispute, I think I’m ready for an omelet. Now if I can just find that damn chicken.

Oink, Oink! Welcome to my sty!!!

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

Hello my fellow Rainers. As you may know we have quite a few consumers who visit ActiveRain on a regular basis. Yesterday, I received the following Email from one of our regular visitors.

  • Hi Broker Bryant, I am getting closer to listing my home for sale. One of the things I do, when I can, is check out local open houses to see what my competition or sold comps will be. I came home so disgusted today I looked on AR to see if this subject was addressed anywhere. I did not find anything and I hope you will be willing to post about it. Of the several opens I viewed today, two were in DISGUSTING condition. I know you would not take a listing if the seller was not willing to put effort into putting his home in show condition. But, what about other realtors? Apparently two listing agents were desperate enough for a listing that they signed sellers who did not even clean bathrooms before open house. Dirty dishes in sink, filthy walls, piles of clothes and blankets stuffed in a crib. A Christmas tree still in living room! Both of these homes smelled bad. Sadly, one of these will be considered a comp to mine when I list. This will hurt my selling price. It angers me. No appraiser evaluating my home is going to know that these two are priced so low because they are dirty and in poor repair as opposed to the declining market. What are these agents thinking? Can you help educate your Rain buddies please? Thank you.

Now folks, what do you think about this? How would you like to be one of these two REALTORS? Would it be good for your business to have the consumer feel like this? Can you get any clearer reason, than this e-mail, to make sure your listings are show ready prior to placing them on the market?

Did you catch the part where she looked at these homes yesterday and one of them still has a Christmas tree up? How about dirty dishes, filthy walls, dirty bathrooms and laundry everywhere?

The effect this has, is that IF these homes sell, the Buyers are going to discount their offers based on the crud. IF the Sellers are able to negotiate a deal, the lower selling prices WILL affect the property values of similar homes, whether they are in pristine condition or not. So, folks get your listings in show condition prior to placing them on the market. If not:

  • It will be difficult to sell.
  • It will damage your reputation.
  • It will affect property values in your area.
  • You are not doing your job as a professional REALTOR®. And in my opinion you have no business taking the listing

"But Broker Bryant, my Sellers don't have the time or the money to get their house ready." Well, I know this is the case sometimes. Maybe they work two jobs and have kids running around trashing the house all day. They may be absentee or elderly Sellers. Here's what I do:

  • If they are not able to clean for whatever reason, I will gladly pay my cleaning crew $250.00 to go through the house top to bottom including cleaning the carpets.
  • Sit the children down at time of listing and give them jobs to do. In most cases I have found that the children are excited about moving and are more than willing to participate. Make a game out of it. Give them a reward of movie tickets or something if they keep their end of the bargain. The parents will love you for this.

The bottom line is get proactive. Wouldn't it make more sense to spend a few bucks, out of your pocket, to get the house ready to be shown than wasting money advertising a dirty house? Price it right, clean it up and get it sold. I can assure you this will do wonders for your reputation and your business.

So what do you think? Want to step it up a notch? What are some things that you do?

Photo compliments of http://www.geekphilosopher.com/.

"Door openers"wanted. Supra key needed!

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

Yesterday, I received a call from a REALTOR® ( I think) who wanted to know if I wanted a referral. I never get too excited about referrals but thought I would at least ask the details. Turns out it was a Buyer referral….well, almost. They basically wanted to offer me a 25% referral fee to meet a Buyer at a property (not my listing) and let him in with my electronic key. What a deal!!! 25% for opening a door! Anyway, I said no thanks and then decided to do a little research on this particular company.

They actually have a pretty nice web site. It seems they are an ABM (alternative business model) that offers a menu of different services, ranging from listing for a fee, buyer rebates to full service. I guess the referral they offered me was part of the Buyer rebate program. Since they offer the Buyer a 50% rebate and the door opener 25% they can't be expected to actually show properties for the remaining 25% commission.

I wonder what they do for their 25%? Probably just paperwork. So I started thinking that I must be handling my business completely wrong. What if I could just sit behind the computer all day and handle Buyer leads this way? What if all I ever had to do was fill out a contract and Email it over to the listing Broker? It actually sounds kind of appealing. I would never have to leave my house. I could work in my underwear everyday. In my market, Poinciana FL, where the average sale is about $200,000, I would make approximately $1,500 for every deal I did. If I could do a few deals a week I could make a pretty good income. Sounds good doesn't it?

But what about the Buyer? I wonder how much that $3,000 (or so) rebate really ends up costing him? Can a REALTOR® really negotiate the best deal for his Buyer on a property he has never seen? I know when I first got my license, 13 years ago, one of the cardinal rules of real estate was "Never, ever sell a property you have not seen." How could you possibly know the true value of a property with out at least looking at it? Maybe, they figure the appraisal will protect them. Well, we know that's not true. In my market, right now, there could be a huge difference between appraised value and market value. A 90 day old comparable sale has nothing to do with today's market value. I guess they just don't care if the Buyer over pays or not. It's not about the Buyer, it's about their 25% cut and doing lots of business.

I think I'm going to get on this band wagon. I'm really tired of actually working for a living. So, I've been trying to come up with a name for my new company. I wouldn't want to put my name on it, so my current company, Tutas Towne Realty, Inc won't work. How about:

  • Me Lazy Agent, Inc
  • Paper Work for a Fee, LLC
  • Buy Today, Pay Later, Inc
  • You Likey, We Typey, Inc.

Well, those don't work for me. So I guess I'll just keep WORKING, for you. What say you?

All content copyright © 2007 – Broker Bryant Real Estate Ramblings

Are you "hulking" up your business plan?

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

 

Hi folks. As most of you know, my market Poinciana Fl is in the middle of a major decline in property values and REALTORS® working this market are really struggling to make ends meet. It's brutal and getting worse. But what can you do? I've been selling real estate in Poinciana for 13 years and have no intention of changing my market area. Homeowners in Poinciana are going through a difficult time and they need me. It's my market and I will ride it out and help as many people as I can until it changes around. Might take a couple of years but "it is what it is".

One thing is for sure, the strong will survive and I am as strong as they get. Not bragging….just fact. This difficult market will make me better at what I do. It will force me to reevaluate the way I do things and help me to improve on my techniques and marketing. To me that's a very good thing. There's nothing worse, when you own a business, than to get stagnant and too comfortable. Change is good. Challenges are even better.

So, over the last few months I have been redirecting my business plan. Here are some of the things I have been doing.

  • Increased my advertising dollars.
  • Started directing more of my marketing towards generating Buyers.
  • Hired a Buyer's agent to handle these Buyers for me.
  • I'm working diligently to increase listing inventory.
  • Spending time, daily, educating my Sellers on current market conditions and getting price reductions.
  • Increased exposure for my listings on Craigslist, Postlets, Trulia, etc….
  • Aligned myself with a property management company that will pay me referral fees for management contracts.
  • I have a couple of new websites in the works including a point2agent site to help with getting Buyers.
  • I'm brokering a new company, starting in September, for family members who are in the Timeshare business(Disney Vacation Club). Stay tuned for more info on this.
  • Working on getting my data base of Investors excited, about getting back into the game, now that prices are coming down.
  • Reorganizing our own rental properties to free up equity.

All of these things are designed to increase my market share and provide additional income streams. Will these things work? Well, in the worse market EVER in Poinciana I did over 1.5 million worth of business in July between new listings, closings and pending sales. Folks, when things get difficult it's time to take action. This is the perfect time to gain market share. When the market does change, I'll own it and be ready for the next boom. Will you?

***Picture compliments of Robert Schwabe. Thanks Robert! I LOVE it!

All content copyright © 2007 – Broker Bryant Real Estate Ramblings

Stoopid is as stoopid does!

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

 

OK, if I were a smart man, I wouldn't write this post BUT………sometimes I just have to throw it out there and see where it goes. As many of us have, I have been following all the ActiveRain vs. Move, Inc. stuff floating around the blogosphere over the last few days. If nothing else, it has been entertaining.

We have a Bloodhound who has already reached a verdict based on……well….based on nothing, I guess. With out looking at the actual agreement between AciveRain and Move, Inc any and all conclusions have been based on assumptions. Of course the assumption is that the young owners of ActiveRain were blinded by big bucks and foolishly plowed forward with bad advice from bad representation. Of course, no one can confirm this. But we can speculate. Why not? It makes good blog fodder.

Then of course, we have folks telling us how the ActiveRain members are all pissed off and feel cheated. Well I don't. And from what I have read MOST members support ActiveRain. But of course that's boring and would not make good blog fodder. It's much better blog fodder for us ALL to be pissed off. True or not.

Then we have another thread where folks are calling us sheep, battery hens, ignorant and a few other choice words. Supposedly we have all just been drinking the kool-aid and have blindly been following our leaders. None of us had any idea that ActiveRain was a for profit corporation and that selling their product was one of many possibilities. Damn!! How could I have missed that. I thought they were providing this site for me to use because….I'm soooo good looking.

We also had folks calling ActiveRain out, to provide copies of the purchase agreement. The argument was that ActiveRain had already breached any existing confidentiality agreements by posting links to the complaint against Move, Inc here. Now folks, I'm not very educated and I don't write Latin (hell, I thought "carpe diem" was a fish!) BUT wasn't it Inman that broke the story? Wasn't ActiveRain's post just a response to that article? Also, the complaint is public information and has been for a couple of months. You can't break a confidentiality agreement by posting PUBLIC information. The demand to see the purchase agreement is just stoopid. Oh wait a minute….I forgot…..it's the ActiveRain members that are stoopid. Sorry about that. My bad.

You know…..I'm a Real Estate Broker. I had business before I came to ActiveRain and I'll still have business if I ever decide to leave. ActiveRain is a great place! Without it I probably would not have started blogging. I certainly wouldn't have met all you nice folks. ActiveRain has opened many doors for me. I've met Matt and I like him a lot. I truly hope that however this turns out he and the others are rewarded for all the hard work they have done. If I'm not a part of their success plan then so be it. I'm already successful doing what I love and that's selling Real Estate.

OK, that's all I have to say on this matter. By the way, I gave you guys some link love to help drive traffic to your sites. After all that is what it's all about, right? Or am I just stoopid?

All content copyright © 2007 – Broker Bryant Real Estate Ramblings

Things that make you go……Doooooh!

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

 

OK, maybe I'm just missing something here. Here's the advertisement from the Greater Orlando Association of Realtors® that ran in today's Orlando Sentinel.

Buying a new or existing home?
A REALTOR® can save you money.

And here's an excerpt from our Code of Ethics:

Standard of Practice 1-4

  • REALTORS®, when seeking to become a buyer/tenant representative, shall not mislead buyers or tenants as to savings or other benefits that might be realized through use of the REALTOR®'s services. (Amended 1/93)

Well OK then, sounds compliant to me. Or NOT!!!! What say you?

Copyright © 2007 Broker Bryant Real Estate Ramblings | All Rights Reserved

Call Broker Bryant for the truth!!! 863 438 9003 

Hi folks. I wrote a post last week titled “Now is a GREAT time to buy Real Estate! Or is it?” In that post I was pointing out how our local board(and now FAR) are asking us to advertise “Now is a great time to buy Real Estate.” My thoughts were and are that this is actually being less than honest and I do not agree with this type of advertising. Pop over and read the post if you haven’t already.

Anyway, I’ve had quite a few consumers who have read and left their opinions on that post. Here are their responses: (the comments have been edited for length only).
******************

FROM STAN:

Anything the NAR says now doesn’t make any difference in the consumer’s mind as they have looked like fools for the past couple of years. With an approval rating on par with Congress, there’s little room for any downside movement. Let’s see….they said the market was going to bottom out and begin another upward movement….when was that? LOL Then, it’s the end of ’08 and now it’s ’09 and in six months, it will be ’10.

You just keep telling the truth and you’ll continue to do just fine. For ANYONE to say it’s a great, or even good time to buy in FL is blowing smoke. Patient, careful buyers will know when it’s the right time to buy and not based on any slogan by some trade organization. The same people who said it was a great time to buy this time last year, overpaid by how much??…10%, 20%, or more in some markets?

The only thing more laughable than “Buy Now” is “It’s different here”. After reading the market numbers for some of the markets represented in the comments, who are they trying to convince…clients or themselves?

FROM WAR EAGLE:

Thanks for displaying a beacon of conscience in a turbulent market. Please know that your honesty is what people are paying you for. Buyers/Sellers user Realtors (R) because they need advice from someone they can trust. For most people, buying a home is the most significant expenditure that they will make in their lifetime. The idea that their Realtor(R) would have “money in their pocket” at that time, versus the well-being of their client is appalling. In all honesty, your profession is due a massive shake-up, and when it is all said and done, those that have had integrity will leave with their reputation intact and will not have to compete with all the greedy johnny-come-latelys for listings. Again, thanks for the honesty.

FROM DAVID:

As someone who is not part of the industry, I can tell you that I would NEVER use an agent who parroted that kind of garbage either in an ad or in person. Really, it would be equivalent to you saying “I am either an idiot or a con artist, and I’m hoping you are dumb enough to believe this transparent propaganda. Please hire me.”

If you have built your business on honesty and trust, now is not the time to abandon that policy. The era of the Huckster Realtor is coming to a crashing halt. In a few years, with any luck, the only real estate agents left will be those who have distanced themselves from the NAR and its self-serving hype, and who have earned the trust of their customers.

FROM WEARY CONSUMER:

Mr. Tutas – I applaud and appreciate your integrity. Stand by for something less pleasant for others: Regrettably, far too many agents are blind to the circumstances around them. A famous quote says “It’s hard to get a man to understand something when his job depends on him not understanding it”.

This is the current case with RE. QUIT CALLING BOTTOMS in the market. You are destroying your credibility as professionals. What if you are wrong? So you get the sale, you will be thought of as a swindler forever.

I am a high 700’s FICO no-debt, non-contingent buyer with cash in the bank. And every time at an open house when some agent tries to tell me it’s a great time to buy, I feel insulted. As if most agents would ever tell you that it is a bad time. I’ve met a few, but not many.

I DO PLAN TO BUY. I am not waiting for the bottom. But I am sick of these agents insulting my intelligence with their fast-talking sales hype. I know there are good realtors out there. I am working with one. But the rest of you better get straight with the facts and quit blaming the media. Most of the gullible buyers are locked into an underwater house.

Now, you have the people like me. We didn’t get in this position of power by believing sound-bite advice. I sincerely apologize to the conscientious and competent agents who truly have their client’s interests as a priority. But the rest? Your world is changing, and you need to realize it fast.

**************

What do think about that? I want to point out that I’m not disputing whether or not “It’s a GREAT time to buy Real Estate”. It may very well be in some areas. I just feel that advertising this way damages our credibility. The consumers above have expressed this very clearly. And I agree. Do you?

By the way, there are more consumer comments on my previous post. Go check them out……and listen!

Poinciana Real Estate Poinciana Real Estate Poinciana Real Estate Agent

Copyright © 2007 Broker Bryant’s Real Estate Ramblings| All Rights Reserved

The reality of being a listing Broker in Poinciana FL.

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

Hi folks. Did you know that in the last 24 months I have had 42 withdrawn or expired listings!!! “But Broker Bryant….you are a pricing expert. How could you possibly have that many listings you could not sell?”

Well that’s a good question. Let me see if I can answer it. First, let’s break it down and see what happened to those 42 listings.

  • 8 listed with another REALTOR®.
  • 9 of them went into a rental program at my suggestion.
  • 7 of them unfortunately were foreclosed on.
  • 17 are waiting for market conditions to change.
  • 1 sold with another REALTOR®.

During this same 24 month period (Mar 06-Mar 08) I listed 92 properties. 19 are still on the market and 31 of them were sold. My list to closing percentage was 34% over this period!!!! That’s pitiful.

In the 24 month period, prior to that one, I had 9 withdrawn or expired listings of which only 1 was sold. I sold 54 of my 63 listings during this period (Mar 04 to Mar 06). My list to closing percentage for this period was 86%.

“Broker Bryant…why are you sharing all of this information?”

Well I thought you would never ask.

I did this little analysis, this morning, for a couple of reasons. First, I believe in being completely transparent to my Sellers. And secondly, I wanted to really try and get a handle on just how difficult my market is right now.

As primarily a listing Broker my goals are, first to get listings and second to get them sold. Right now the first part is very easy but the second part is extremely difficult. I’m turning down about 5 listings for everyone I take.

Most Sellers in Poinciana FL right now, are upside down on their properties. Their equity has disappeared. Even if they purchased in 2004 with a 20% down payment they are now about 20% in the hole. And this doesn’t even include the costs involved in selling.

BUT……some still need to sell. If they are struggling on their payments or have had a drastic change in their situation they may NEED to sell. The problem is….most can’t. My job is to try and help the ones that I can.

However, with values down 40% over the last 18 months it’s very difficult. My Sellers can only go so low with their pricing. Even though they may be struggling, it doesn’t mean that they qualify for or want to go the “short sale” route. There are still folks that want to honor their obligations.

My job is to give Sellers the facts. From there…we just do the best that we can. I cannot control market conditions, I can only make sure my Sellers are aware of them. If they truly understand their situation AND we can price within reason, we go for it. Sometimes we are successful and more times than not…..we fail. And failure sucks!!! Still, I have to have signs in the ground.

Poinciana just can’t seem to catch a break. During the summer of 2004 we had 3 direct hits of category 3 hurricanes, actually one, Charlie, was a cat 5. Poinciana was devastated. Our boom period was only about 18 months. It started in early 2005 and by late 2006 the slide downward started. In April 2007 we hit the wall and values have plummeted ever since.

When will the crash end? I don’t know. All I know is values in Poinciana are back to pre-hurricane prices and may go back even further before it stops.

In the meantime, I’ll just keep pluggin’ along. By just pluggin’ along I managed to sell 130 properties in the last 48 months. Not too bad. I’m just a small time Broker, trying to do my best in a very niche market, that just happens to be one of the worse markets in the country.

So, if you need to sell or want to buy, in Poinciana FL, give me a call. I’ll give you all I have. That’s all I can do. Is that good enough for you?

Sell Poinciana Real Estate Poinciana Real Estate Poinciana Real Estate Poinciana Real Estate Agent

Copyright © 2008 http://www.brokerbryant.com/ | All Rights Reserved

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://www.brokerbryant.com/
***The content of this blog is solely my opinion*** 

Listing presentation. In and out in 90 minutes.

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

Call me!!!Hi folks. This post is one of my oldy but goldies. I first posted this back in September of 2006 but feel it may help someone in their business so I’m reposting it today. OK……maybe I’m just lazy!!!

Let’s talk about listing presentations. From what I’ve been reading lately I guess there are two schools of thought on these, one appointment listing presentations and two appointment listing presentations. I have to be honest with you, I had never heard of a two appointment listing until recently. You see, I have never had any training in Real Estate. When I first got my license 14 years ago I worked for a vacation rental management company and was the only one that had a Real Estate license. From there “The Lovely Wife” and I opened up Tutas Towne Realty and we had always worked by ourselves, until she retired about 5 years ago. Since then, I’ve gone solo. So no training. I have been through the GRI series, attended quite a few educational classes at our local board and of course, licensee and broker classes, but I am mostly self taught through trial and error when it comes to actual sales techniques.

Anyway, two appointment listing presentations are foreign to me and I am not able to advise on them one way or another.

There aren’t too many things that I do well but pricing and taking listings are two things I do very well. And since I have never done it any other way, the one appointment listing presentation is what I’m good at. These are the steps I take to get in and out in 90 minutes, with the sign in the ground, all photos, measurements and paperwork complete.

Please remember this may not work in all markets. My market is limited to one PUD, it just happens to have 70,000 people and most of the homes are fairly similar in style. And I have sold hundreds of homes in this neighborhood. Some homes I have sold three and four times. Okay, so here goes.

1. Pre-qualify the Sellers on the phone prior to meeting with them. This includes finding out their reason for selling, mortgage balance, how long they have lived in the house and details about the home. Do not under any circumstances discuss pricing or commission on the phone. If this comes up the answer is “I have to see your house in order to give you an accurate opinion of value” and “Commissions vary greatly from company to company. We can discuss this once we get together. Right now, I want to concentrate on how much money I can put in your pocket. That’s’ really the only figure that matters to you, right?”

2. Prepare your CMA based on public records and the information they have already given you. You should be able to come within a few thousand dollars of true market value, subject to verifying the condition of the house.

3. E-mail them this information in advance if they are able to receive it. Do not give them your price opinion or commission rate. Just comps, marketing info and such.

4. Prepare the listing agreement, MLS data sheets and disclosures in advance with your commission and all other information except price. Make copies. This should not be hand written. If it’s typed they are less likely to question or change things. Like my commission.

5. Day of presentation arrive exactly on time. Not five minutes early and not five minutes late. This is very important. You want them to know immediately that you do what you say, when you say.

6. The first thing I do is let them show me the house if they want or I look on my own. You can even take notes on a pad or talk into a recorder. They like that. This takes about 5 minutes.

7. Then guide them to the dining room or kitchen table. No breakfast bars and no coffee tables. A big table, with them sitting side by side across from you. And start out with chit chat. Get to know them. Listen to what they are telling you. You are fishing for their hot buttons. This takes anywhere from 10 to 15 minutes.

8. Then I start my presentation by telling them a little about how I do business and what they can expect by working with me. I am trying to hit on their hot buttons at this point. Win their trust. This takes about 10 minutes.

9. Next I get into pricing, going over my analysis, what happens when we get an offer, pre-qualifying buyers, possible closing issues, inspections and answering any questions they may have. Notice how I’m already talking as if I have the listing and the house is already under contract. About 20 to 30 minutes.

10. Then I hit them with the close “I’ll need a key today. I have my sign in the car and a lock box in my briefcase. Here, you guys sign here and here and while you are doing that I’m going to take some pictures and get my measurements, so I can get you up and running today.” Then fill in the price and slide over the paperwork and two pens and get up and start cutting on lights and taking pictures. I do not explain contracts to customers. I am not an Attorney and that is not my job. I may give them a brief summary limited to: here’s the price, here’s the length of the agreement and here’s where I get paid. Also, here’s the Property Disclosure Statement with a self addressed stamped envelope, complete it and mail it back to me.

By the time I am done taking photos and measurements they have finished signing everything, including their copies, and have placed a key on the table. 30 minutes.

I thank them and tell them I am hurrying back to my office to edit photos and get them in the MLS, so they are up and running before the morning’s hot sheets hit the system. Put on my lock box, stick a sign in the yard. And I’m out of there in 90 minutes. Next!

Usually, I will even call them on the way back to my office(home) to tell them how excited I am. And of course they will be hearing from me often.

Oh, by the way, I truly am excited. I love helping Sellers sell their homes. I want to do everything I can to get this done for them.

So that’s it. Broker Bryant’s, 90 minute, one visit listing presentation. Lock and load baby!

COME ON DOWN TO TUTAS TOWNE!!!

MORE INFO FROM BROKER BRYANT… THE SOURCE FOR POINCIANA REAL ESTATE

Sell Poinciana Real Estate Poinciana Real Estate Poinciana Real Estate Poinciana Real Estate Agent

Copyright © 2008 http://www.brokerbryant.com/ | All Rights Reserved

About us

I am a licensed real estate Broker in the state of Florida. My opinions on real estate have been formed from my experiences and 15 years of working in the business. My opinions are in line with Florida Real Estate laws and the REALTOR(R) Code of Ethics. Your State’s laws may differ. So do your own homework before implementing any of my business practices into your business.