I run a group currently in the real estate industry discussing the following items..Should anyone wish to have a dialogue on any of these .......I am always open for a chat..Ron
MASTER MIND GROUP-THINKING OUTSIDE THE
BOX
Purpose of Group- To share ideas in a casual setting about SUCCEEDING in this changing market
TOPICS FOR DISCUSSION:
*Current real estate transactions --Share success stories/frustrations
*Learning the Sothebys brand and how to leverage
*Operating as a business..% spend on advertising.. budgets
*Communication styles w/buyers/sellers
*Pricing correctly out of the box
*Prequalifying process
*Price adjustment(NOT reduction) scenarios
*Effective CMAs
*Plan of actions on the listing side
*Working with FSBO/expireds
*Working our sphere of influence more successfully
*Being a trusted advisor to our clients..aligning w/the right professionals
*Eliminating negativity out of our mindsets…Get over your biggest competitor..YOU!
Thought leadership on everything..Real Estate.. Carpe Diem..For the ongoing collection of Life! Sotheby's International Realty
2 comments:
Its all about pricing forget location!
I have discussed with my sellers - owner financing.
So far one owner is offering this with 5 % down on $1,599,000
no closing points..5 year loan..rate at regular not jumbo rates. WIN WIN
Among the topics listed below - one of them stands out to me and that is: "Working Our Sphere of Influence more successfully". In the previous meeting, I mentioned the importance of re-connecting with people through alumni groups, as an untapped opportunity for agents to explore. Just recently, I attended my high school's 20th reunion and throughout the weekend, I re-connected with old friends as well as people I did not know very well. Fortunately, the weekend provided an opportunity to meet new people and network. I was able to identify 1 couple planning to move and plan to sell their current home...so this may result into 2 transactions.
In addition, I have recently learned of a new system to keep in touch with friends and business associates (ie prospective clients). I would like the opportunity to mention this service at the meeting to our fellow agents. It is called: "Send Out Cards" and provides the platform to manage contacts, important dates with reminders, and send cards for all different types of occassions. The old school way to re-connect with people in our respective databases through sending snail mail has been made more efficient through this Internet service and enables us to efficiently keep in touch with people. This seems like a great vehicle to "work our sphere of Influence more successfully".
My thought is to step outside your Realtor mind and put yourself into the shoes/mind of the buyer or seller. What would you think or do if you were the seller in this market. What would you think or do if you were the buyer in this market?
No location Location Location is and will always be one of the most important factors in determining perceived value. That said price is always a factor UNLESS the offering is so very rare and special that a motivated buyer would pay what ever to be able to claim ownership. Remember you make money when you buy real estate at the right price … not when you sell.
The public has been saying the price is to high, so I guess I would respond to the question, price is king right now, but what is the right price
I don't think we have hit bottom. I have listings that are priced "fairly" according to the owners but in this market they are priced fairly when my phone starts ringing again for appts.
why high priced listing don't sell, because buyers are looking for bargain!
The following are some comments from existing agents on the market....
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