C21 Detail
150K above asking at the time when price was dropping.
Appraisal came 150K lower. There was some arrangement in bank with a little high interest rate and cash back.
Listing agent was surprised in the transaction. He was telling that sellers were not expecting over asking. The appraiser from bank was only 23 Year old boy. He spent only 15 minutes for appraisal.
Listing agent had 25 year experience. We cannot have objection all the time. Challenging times come. Banks are conservative because there is uncertainty in the market.
If in multiple offer scenario listing agent is not responding. Register your offer online. Fax / email to the brokerage. Sometimes people are on vacation, sometimes busy.
FSBO role play: Reason behind saving commission and having more money in your pocket. You need to make sure that qualified buyers may enter your property.
How strong are you to negotiate the price for your home to sell. If buyer has strong negotiating skills, they will save more money than you.
We, as realtor, go through negotiation on daily basis. We have more experienced. We are good negotiators. We know how to market, how to qualify buyers. For FSBO there come many realtors will visit / will call to get listing.
How much time you will spend and how easy it would be. Once I will list your property, only me and my office will call you. We will be responsible for bringing qualified buyers from ours and other brokerages. We will take care of all the other stuff needed for selling the property.
We know marketing, staging, how to prepare, inspection, how to look at documentation which can save you 100s of 1000s dollars in a lawsuit. This is how it works.
[In real estate, or any business; first scare people, then give them solution. Worry / problem brings the solution. Then people listen attentively. Scarcity, fear make people listen.]
In Business, people like you; they like your product and if they need it. Pose the problem; Offer the solution
In the first call make them feel comfortable with you. I can help you to sell your home by yourself. Give them some home. Encourage them. Then put some realities (scarcities) in front of them. Wherever you need I will help you. How long it will take for you to decide. Are you selling by yourself or you have realtor.
FSBO; more money in the pocket. Can you tell me a little bit about your home. I showed few properties to my buyers in the same area. If you will tell me a little bit, it would help me to show the right people your property. Are you open for that.
Detached 3BR 2 BR about finishing, upgrading kitchen BR, basement. One bathroom in the basement. Walkout basement with separate entrance.
Active marketing [holding open houses, flyers, magazines, TV, Radio / passive marketing [sitting, doing nothing]
What's the price you are looking for your house? I showed a house in your street $1.4M. I'll more confident to present your house to my client, once I would know more about it.
Before showing to client I would prefer have a look. If it meets the criteria of my client. If I'm bringing my client, I'm not doing it for free. This is my job. I'm getting paid for it.
I'll charge you 2.5%.I charge 3.5% because I have to look after your side also. I would need 24 agreement before I bring my client.
Prepare a package for FSBO. Guide them how can they prepare their home for sale. Then you can call them as follow up. If you need any kind of help, I'm here. I know the problems and difficulties you would be facing. Many agents would be calling you instead of clients. You would be having hard time. How long do you want to wait to decide who agent will be of your needs and standard. Is it OK for you if I call you after a week to find out how things are going. This is a process.
You shouldn't leave for others (FSBO).
Neighbor is Selling: Downsizing. Is there anything I can help you with? I've been doing Real Estate for a while now. I understand that you are selling and if I can help you to save some money and I'm not asking to give me the business right away. I want to know how can I help you with marketing, pricing, staging and all those things. Is there anything I can help you with? What we do, I can send you some sample flyers and you can market yourself. You can probably put on social media and people can look at your sign which you put outside on your lawn and people will come over there.
My question to you that first of all, you need to know what your house is worth and I being in this business for a while I can help you understand price. Have you ever thought of how to price it or what is price for it.
Absolutely you can sell by your own but the thing is that there are certain times you don't know whom you are dealing with and how strong that person is in negotiating the price for you. Also how good you market yourself. So here it is. First of all I want to make sure that you're in safe hands. So for that purpose, always best if you want my help I can always look at your documentation if you get any offer, would you want to share it with me. I'll just have a look at it. So, at least you're safe at that way.
The other thing is that when people come to look at your house, your house needs to have certain things dome so that it look presentable. We call that staging. So, are you having any thoughts of doing that. It will help you get better price for your house. ... I do have buyers. I don't know if your house will be the exact fit for them but I'll have discussion with I've a list of potential buyers and I'll check with them if somebody is interested I'll definitely let you know and with an appointment I'll come bring them over. But before I bring them over if I'm bringing them over I would with due respect to you. We know each other, I would want to have at least a 24 hours contract, not a long one but a 24 hours contract that will be between you and my brokerage that I'll have an X amount of %age paid on whatever the value your house have been sold for. Is that OK for you? ... Here we leave for now. Also I understand when you have sign for sale outside, you're not only to get the people who are willing to buy your home but there be more than that there would be lots of agents who gonna call because they would prefer to want to have your listing. Now, would you want to take that calls from them or if not you can always tell them that you have a realtor in your own neighborhood or you know because you know me. In that way you will eliminate all those unnecessary discussions with all of them. Is that OK for you? .. So, I'm leaving some of my business cards with you today evening. Keep those cards. If any of the agents knock at your door or call, tell them that I'm your agent. If I've to list it, I'll list with him. In this way you will eliminate all those unnecessary discussions and just concentrate on the buyers you have.
And once you have the buyers, please feel free to talk to me if I can help you understand whether the the buyers are really qualified ones. to work with your deal. So, I can help you in any way you want.
One thing I would like to ask, how long you going to wait till you want to have. For example, even we put on MLS, not 100% all the properties on MLS. Usually about 15-20% of the properties do not sell even on MLS.
So, if you have time to sell it by yourself, how long will you wait to decide you give it to an agent. ....
That's great, couple of weeks is good time to try it out.
Is it ok if I check with you in next 4-5 days how it's going with you. And if you have any buyers / prospects; you feel free call me any time. ...D You are new, not experienced; we have great database of buyers with our brokerage. We work as a team.
Although I'm new but I'm all the time at work for you to fulfill your needs, not like busy agents. They don't have time and they will not be paying attention to you.
It took me a while to educate in this field. I'm educated and I understand I'm also ongoing educating myself.
We're well trained in this field. At the same time, I have a lot of time to put an individual attention for your needs.
Rather than those busy agents who would be dealing with 15 different clients and they may not consider giving you the same attention as you need it because it because it is the most important asset of your life and you don't want to have some a number game in some body else's portfolio.
I'll there to personally make sure that everything is taken care. ...
I do live here. I'm familiar with the area, with schools around, with the community.
It's to my own advantage if this property would be sold at the highest price, it will improve the price of my own house, my own property. ...
I understand and I respect that you will save at least $50K on the commission but understand that your house could be sold at 70K or 100K below what you could have got it while selling it with me because you were not able to negotiate properly or price it properly or sometimes down the road you have a lawsuit which will cost you much more than the cost of $50K commission.
What is better for you to save that $50K in commission or to save a lawsuit that could be $100s of $1000s of dollars down the road if you did something wrong. Or you lost $100K because you couldn't negotiate in the proper way or the people were very difficult to work with.
Those things can happen but we as a realtor can save all that money.
I understand that you saved $50K in commission but you actually gave more benefit out of it more than $50K.
For example if you sell this property for $1M you saved that $50K whereas I can sell the same property for $1M and $75K, would you mind to pay me $50K. Even if it is $60K, you still have $10K extra in your pocket. Would you not be happy with that? ...
Guarantee; there is nothing certain in life.
The thing is we do it on daily basis. You're doing it once in a lifetime. There would be emotions involved in your sale and you can sometimes break because of emotions. We don't have emotions. We're dealing with this and I just give example as a doctor. If there is a doctor who does a surgery in a day, he does 5 surgeries and there will be a person who says that he got hurt but he can do stitches on his own; what do you think is the right thing to do? To go to the doctor or do the surgery on your own injury yourself; where you could get infection and you might head to lose your part of the body because you're trying to save the cost of doctor.
We're professionals. We're doing this on daily basis. We sell at least one or two homes on every week and that's why we're experienced and you will be selling, may be once or twice in life. Do you feel more safe to work with us, what's your idea!
A neighbor is planning to sell their house: FSBO
Have you look into, how to market, staging, pricing, evaluating. There are many things to look into before putting a property in the market. And after putting in the market there is a list of activities to take care; are you aware of all that. Few touch ups and updates make the property more attractive for buyers.
I'm realtor in your area, keep me in mind if any time you need any help I would make myself available for you. You can contact me anytime, I'll help you out. .....
We'll try for 2-3 weeks and then we'll see next what to do.
Do you mind to tell me, for how much you're thinking to list.
As per internet information for prices of properties; we are thinking to list at $1.2M.
If you allow, I can help you in evaluation. Sometimes, some upgrades, some issues and some other feature have effect on value. It needs a lot of research, cleaning.
Saving money is our objective to avoid realtor.
Apart from realtor, I'm your neighbor, so, I want to make sure that you do everything without any blind spots. Right choices without emotions based on realities is the main part in these transactions. Right qualified buyers whose finances are legitimate and fit for your deal. I trust you can do well by your own but just I want to make sure, everything should move in right direction. I mean rightly conducting the business deal.
I do have a list of qualified buyers but I've to check whether your house is right fit for their specific needs and requirements. I may need to look at the condition of your house, any updates or layout so that I may be able to discuss more details with those buyers on my list.
The pictures you're talking about, who made those picture; some professionals made those because it helps much more to market your house.
I've good number of followers on my Instagram. Let me come over and leave my business card with you.
I understand that you are trying to sell it by yourself to save some money. Once you sell it, what are your next plans; you're downsizing yourself. If you need help in purchasing then let me get into that and get you to help you in purchase of that. At the same time if you need help in this I'll be there.
It's not about you're trying just for listing but at the same time you're trying. Because you know once she sells herself, she cannot buy herself unless she is going agent to agent and trying to do that.
Ask question: while you are selling your home where you are going after.
Because I saw her nervous, gradually her graph was going down. I could see on he face. I don't want to get her nervous at any time.
First of all, this is not a cold calling. She is your neighbor. You know the person. So you should be more confident.
Your vocabulary, body language; everything speaks on your behalf or against you.
So, never ever lose hope when you're talking to somebody. Go with full confidence. No matter what happens. Nobody is going to kill you. Go with full confidence. Don't be over confident. Just don't say anything out of way. Be in total control. What ever they say, take it as objection, acknowledge that objection in a positive way that yes I understand that is this why you're doing this because repeat it, acknowledge it that they're doing it because the benefit themselves and then show them the disadvantage of trying to do that by themselves.
When you show them the disadvantage they will get little bit worried about it. So instead of you losing the confidence. You're making them to lose the confidence and then when they actually are little bit down in confidence then hammer them down at the same time. This is how you fight this wrestling.
Once you master; you will deal same with all the people; whether you know them or not.
It's a role change; from a neighbor to professional.
Think about a grown child; now he is teen ager; how he / she is talking with more confidence about his things. He doesn't hesitate.
Now you're a professional; may be like surgeon; offer your services with pride and dignity.
Be humble, be positive in your education / ability to do what you're doing on day to day basis. Your confidence will take you where you want to be. Don't feel shy that they're elder to me. I've grown up in front of them.
Our own grown up kids do argue. We have to listen them about their business because now they're educated in their own field. We don't teach them / underestimate them because they're our kids. No.
Some people will but mostly not because you give them chance. Don't let anybody stand firm in front of you're too young / inexperience ...
Don't accept that you're inexperienced person. You have not only experience and education of real estate, you've other experiences of life. Bring all those experiences together; life, education and then add benefit being in a branded company Century 21 is a big brand Leading Edge Realty has 800 plus agents. That's all your backing. You can use all these to empower yourself that I'm not just alone.
I've a team of professionals along with me that's like army of soldiers that're in real estate and they're only doing real estate. So use that in your own mind first, feel that strength and then use this strength while talking to the people then you'll feel more confidence.
Practice, Practice, Practice, Practice, Practice, Practice, Practice.
Video yourself, record yourself, talk to yourself.
Once you talk to yourself, watch it, repeat it again that will give you confidence.
What we think about ourselves it comes on our face.
Fake to yourself, lie to yourself; change the perspective that you're very experienced person.
I'm 30 years in business and I know what I've to do. Repeat it many times to self. It will improve your quality of your own understanding and feeling that yes you've confidence in what you're doing 6:00 to 9:00
Positive affirmations help you. Record and watch. Tell / lie to yourself. It will change your body language.
https://www.youtube.com/watch?v=BXaR9rk00XA&list=PLgmxv-ktHfPqdAlq0tqb81fdYNiYAGwaz&index=5
You ask them; they will say; yes or no. So simple it is.
We get nervous on our own.
You try; it works.
It happens to all of us. We feel intimated / scared in situations. We need confidence there.
No one of us has different approach. Even confidence; sometimes we have low / high. To be successful need to believe in self and go with that, show the people. If I believe in myself. You have to believe in myself. I'm telling you. I'm confident, I've the knowledge, I've the experience.
Even though sometimes we don't but we just have to feel. We have to present outside of yourself that you're the person that they come to and ask you for help.
Buyer with $400K cash looking for even small property; Studio, pre construction, assignment. At least $500K be start from.
We have to educate buyers. People have many myths in their minds. They can use as down payment some of money, not all.
A buyers was interested in a property in a location listed for $900K, properties sold in that area are $1.2M. There is no match.
Prospecting just sold / listed, Centre of influence, door knocking. Prospecting is life line of real estate business. Change transcript if not working.
Comments
Post a Comment