It seems that even with the bad news about home foreclosures, rising gas and food prices, and the falling dollar, real estate is on a gradual upturn. Existing home sales in some markets are better than they have been for the past year and although it may be some time before the economy turns completely around, some buyers are making the best of it. Shouldn't you take advantage?
     Buyers today are more savvy and more qualified to purchase the home they are looking to buy; so you should be able to get them the home they really want. But how do you get them the home if it's not listed, or you can't find it on the MLS? If you don't find today's buyer a home, they'll find it without you.
     Sellers are savvy too! Don't think for a minute that when you meet a seller, they don't already know everything about you from your website, blog and MySpace page. Before sellers sign a contract, they want to know who they are working with and if they are getting the best deal, even if the market is slow. Many sellers believe they can put a sign in the yard, put some photos up on a website and sell their home. Few can, and most of the time, a FSBO sign is a call for professional help. Don't be afraid to offer your services, just make sure you don't offer anything you can't deliver. Working with FSBO's can be a long courtship, but it can pay off in the long run.

TIPS FOR SECURING YOUR SALE

• Know your buyers - If you cannot establish a report with your buyers to know what they are looking to buy, but what they need and what they desire, your not doing all of your job. You don't need to be their best friend, but you need to get close enough to know what they might be thinking and why. If your relationship can develop to this point, you will have a better idea what they want before they do.

 

• Go over your "This is how I work..." rules so there is no confusion with a FSBO or buyer. You need to confidently let them know what you will do for them and what you expect from them. Getting this out of the way first is the best way to start a long term relationship. Some agents even have an agreement listing services rendered and expectations of the buyer/seller presented with an agency disclosure so there is no misunderstanding as the relationship continues.

 

• Do your homework! - It doesn't matter if you are working with a buyer or seller. It is part of your job to be the professional real estate agent, and in doing so, you should have a good understanding of the market, neighborhood, homes for sale (including FSBO's) and community.

 

• Don't feed the bears. - You sometimes need to know when to stop feeding your buyers and sellers and close the deal. In a buyers market, you will need to spend more time with buyers to find them the best deal - but know first if they are ready to buy, otherwise you are wasting more of your time. You also need to spend more time with sellers in a buyer market; assuring the homeowner of market changes, showing comments and sometimes just reassurance the home will sell if priced right.

 

• FSBO trickle effect - Sometimes you can give a seller too much help if you don't know when to stop. A FSBO is a FSBO until they are your client... so treat them as a FSBO. Call them and ask them to list their home! It might be that simple. If not, send them a letter every week of homes that sold... you don't have to say you didn't sell them. Send them an article or news story about real estate (there are a lot these days) and highlight the section where they quote a real estate agent. There is a reason why they ask real estate professionals. Call them back and ask them if they are ready to meet with you about selling their home... again... and again.... and again... On average - if a FSBO lists with a real estate agent, it takes 7 attempts... so, start attempting.
  

 
Keep working your plan for success!

You're closing in on the first quarter of 2008, and it's getting time to review your business. How have you done? What have you done? What do you need to change? How do you approach the rest of the year? These are all very important questions you should be asking yourself over the next week or two...
We'll go into detail on how to conduct your quarterly business review, question you business success and adapt to changes so you can continue to build upon your success.