How to Best Serve Sellers in a Buyer's Market

There is no doubt that the market right now is a buyer's market. That can make it quite hard on sellers and more difficult for you. This type of market makes selling a home, earning a nice profit and moving properties quickly, all tasks that are quite difficult. Trying to explain that to a home owner can be a challenge. Many home owners just want to make the sale fast and get a nice amount of money for their home. They do not want to hear that doing those things will not be easy.

It is your job to make sure sellers understand the market and that they understand selling in a buyer's market can be challenging. Here are some things that you can do to help make it easier for sellers during this buyer's market:

Provide them with plenty of proof about housing prices in their area for similar homes. Having proof upfront will make it much easier to explain to them why you need to set the price lower than they may want. Disagreements over price tend to be quite a problem during a buyer's market. Sellers just want to sell for as much as possible. Do your part by showing them what the highest price is right now.

Help them with staging and with preparing their home to minimize defects and play up assets. Help them to understand that they have to make their home look amazing if they want to sell it in this market.

Give them plenty of options. Offer to do more open houses and to do more marketing to help them sell their home as fast as possible.

The bottom line in a buyer's market is helping the seller understand what a buyer's market means to them. You have to be careful and you have to understand that sellers in a buyer's market are not always going to be happy people. Do your best to explain everything to them and help them in anyway you can.

Are you Managing Everyone in your Business?

As a business owner you know that management is part of the job. You manage the agents that work under you, the office staff and others who work for you. There is another person that you must manage effectively in order to make your business a success and reach that Billion Dollar Agent level – YOU.

You will probably be the hardest person to manage. You will probably resist, not want to do what you need to do and may even completely ignore what you should be doing. This is what all too often happens.

Managing yourself means many things. It means taking time off when you need it. Keeping your mind and body in good shape. Making time for a personal life. It also means continuing your training and proper time management. Managing yourself is all about finding balance.

When you forget to manage yourself, you and your business will suffer. Take time to set up your own schedule each week and make time for everything in your life. Know when it is time for business and when it is time for pleasure. Draw a line and keep things balanced. In the end you will find your business runs smoother and you feel much more energized and focused.

Speaking Events Can Boost your Business

A Billion Dollar Agent is always working to try to get more business. Unless you grow your business you will never be able to reach the Billion Dollar Agent level. Once you do reach that level, it is not time to give up either, you always have to find new ways to get new business. One of the best ways to get your name out there and to grab that attention of possible clients is to engage in speaking events.

There are many options in speaking events. Try all these ideas and see just what an impact it has on your business:

Go to local clubs and organizations. Chambers of Commerce, Rotary clubs and business groups make great places to go to give a speech or presentation. These groups are always on the look out for speakers for their meetings and events.

Teach others what you know. What better way to expose your skills and talents to others than through teaching a class at a local university or college.

Contact local TV and talk radio programs. They may give you a guest spot that will give you amazing publicity.
Put the word out that you are available for speaking arrangements. You may be surprised at how many people contact you to come speak at their event.

Tackling the Difficult Client Dilemma

Every real estate agent has dealt with a difficult client. There is really no way around it. How you handle tough clients is a great indicator of your overall abilities as an agent. Billion Dollar Agents know how to handle all types of clients. They understand that in the end, it is all about customer satisfaction. No matter how difficult the client is, you have to make sure they are happy while also doing your job to the best of your ability. Here are some common types of difficult clients and how you should handle them:

The “I know everything” Client - This client seems to know everything about everything. You can't tell them anything because they already know it. They want things done their way and won't accept any suggestions that deviate from what they want. The best way to handle this type of client is to be agreeable and let him see you are impressed with his knowledge about things. To get him to work with you come at him with hard proof about anything you disagree on so he has a very tough time disputing what you are saying.

The “I am the boss of you” Client – This type of client thinks your job is to service their every need. They will expect you to drop whatever you are doing to help them. They will not be very good about giving you advanced notice about anything. It is essential to set boundaries right away and give the client details on what you do and what you do not do. Also be sure to set limits about contact and meetings that are not scheduled.

The “I'm just looking into things” Client – This client can be a seller or buyer who really has no intentions of really buying or selling. They are simply gathering information so they can think about things. This type of client is a big time waster. If you run across one then all you can really do is work to make their mind up and get them to either buy or sell. Keep in contact with them and try to get them to use you when they really do decide to buy or sell.


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What do you do?

That is a question you probably hear all the time. When you first meet someone it is common to ask “what do you do?”. As a real estate agent, it is your job to take the cue. Do not just say “ I am a real estate agent.” Take this opportunity and do with it what a Billion Dollar Agent would do – turn this into a chance to get a lead.

Leads are your bread and butter. They keep your business going and they are what lead to you making money. Never let an opportunity pass you by. The next time someone asks you “ what do you do?” take this chance to sell yourself and to make them interested in you as their future agent or possible as an agent for someone they know who is currently selling or buying a home.

You may be wondering just how you turn a simple conversation into a way to sell yourself and get a lead. Well, it is actually rather simple. You have to sell yourself without seeming pushy. You want to act like the real estate expert that you are. Provide them with useful information. When you tell them what you do, tell them about what you do, not just your job title.

Answer the question by saying you help people sell homes for the highest possible price or that you help people get amazing deals on a new home purchase. Throw in something that distinguishes you, like ending your response with – regardless of financial limitations or regardless of location. That will get the other person asking questions and let you really show your expertise.

By becoming an expert in their eyes you are turning on a light bulb in their head. They may tell you they are thinking of buying or selling. They may tell you they know someone who can use your help. Whatever happens, you are likely to end the conversation by handing over your business card and getting a lead.

Start the Year Off Right

What better way to make 2010 a great year for you and your business than to start off on the right foot. The beginning of a new year allows you the chance to set goals and get things in order. All Billon Dollar Agents know that getting a good start to the year is one way to ensure that your business has an amazing year.

Starting off a year right is done by looking back. Look back over 2009 and learn from your mistakes and your successes. Here are some things that you will want to do:

- Go over all the numbers from last year. Look at how much you spent, specifically. Consider changes you could make to lower your expenses. Also go over other numbers, like how much time you invested into each client compared with the pay off.

- Look at your marketing. How did it work for you? Are there better options available? What worked and what did not work? Is there more that you can do?

- Go over your daily schedule. Was there too much wasted time? Are you handling things that could better be handled by an assistant or outsourced?

Figuring out what went right and what wrong can help you to discover how to change your business in 2010 for the best possible outcome.

Stay in Touch With Clients Through Multiple Methods

Billion Dollar Agents know that the key to success lies with good relationships with clients. Real estate is all about who you know. You want to be networking everyday in some way. You also need to adopt the mindset that every client is a client for life. In order to build those relationships and keep them alive you must maintain contact.

There are many different ways that you can maintain contact with clients. Here are some ideas that you may want adopt this year to help you stay in touch with clients. Feel free to use a few different methods. The more contact you have, the better.

Newsletters

A newsletter is interesting and informative. It not only puts your name in front of the client, but also gives them something. Your newsletter should include a personal note from you just to update them about the happenings in your business. This is a good time to welcome them to contact you with any questions or comments they may have. You can send newsletters in an email or through the postal mail.

Brochures

A brochure is like a short little glimpse of your business. You can send out brochures just as a reminder of your office location and contact information. Make it appealing and show the client what you can do for them.

Notes

Sending short personal notes or emails is always nice, especially if you have just finished business with a client. Many agents use post cards to send notes because they are inexpensive to send, easy to personalize and very eye catching. You can even just send them out a few times a year to update clients about your services or to remind about how you can help them. You can also include tips and send them out seasonally. For example, in the fall send out a reminder note with a checklist of things homeowners should do to prepare for the winter months.

No matter what methods you use to stay in contact with clients, the important thing is to just stay in contact. You can never be a Billion Dollar Agent if you don’t have a client base.