When Selling a Historic Property

Marketing a property with historic or landmark status may draw a greater response than when selling your usual, traditional product. You’ll be working with especially knowledgeable buyers — history buffs — who may be more familiar with the home than you are, and they may have questions that you will need to answer in detail. That means it’s time to study. Facts to memorize (for starters): when was the home built? Have famous people lived or visited there? Have there been any significant changes to the house? Every little detail of the house (“George Washington slept here!”) can attract more buyers, ...

When a Home Inspection Becomes a Deal Breaker

First, an important clarification: a property cannot fail a home inspection. It’s not a pass/fail test. The process is simply an examination of the house’s overall condition, with a report on what might need repair or replacement. The inspection can vary by inspector, and can often lead to different interpretations, depending on who is buying and who is selling. That’s why it’s best for you to be involved in the inspection process, and offer advice and navigation should conflicts arise. You can click here to learn more about how agents can make the most of home inspections. Prepare your clients: a ...

Ten Inspiring Quotes on Business Success from Mark Cuban

Mark Cuban is a billionaire entrepreneur, owner of the Dallas Mavericks basketball team, and costar of the hit series Shark Tank. Over the years, he has given consistently smart business advice, and he should know: in 2005, he sold his company, Broadcast.com, to Yahoo for $5.7 billion. Here are some inspiring quotes from the man himself, after a lifetime of business experience and wisdom, both learned and instinctual:  “Know your business and industry better than anyone else in the world. Love what you do or don’t do it.”  “I still work hard to know my business. I’m continuously looking for ways to improve ...

When Selling a Vacation Property

Vacation home clients come from two directions — those who dream of a getaway escape haven, and those who have had enough of the second mortgage, the upkeep and the friends and family who insist on dropping by. That gives you numerous opportunities to increase your commissions. In 2014, 21 percent of all home sales in the U.S. were vacation properties, according to Inman News. That same year, vacation-home sales reached 1.13 million, according to the National Association of Realtors®. That’s the highest amount since the organization began the survey in 2003. Buying and selling a vacation home is not ...

What Clients Really Want from You

This may come as no surprise: nearly 62 percent of buyers and sellers are looking for lower fees when it comes to dealing with agents, according to a Redfin survey of 1,000 respondents. However, this part may surprise you: 22 percent of those surveyed said that low fees actually made them concerned about the quality of the service. From that same survey, buyers and sellers are increasingly finding that they want their agents to be as tech savvy as possible. Of those surveyed, 57 percent said that technology is vital. However, behind that comes yet another surprise: 31 percent of those surveyed ...

6 Takeaways from “How to Win Friends and Influence People”

Long before Tony Robbins and Oprah Winfrey, there was Dale Carnegie. He wrote a common-sense, easy-to-understand self-help book about how to get ahead in business — and in life. He gave the book an irresistible title: “How to Win Friends and Influence People.” It struck a chord immediately, almost single-handedly igniting the self-help industry. And Carnegie’s advice is just as relevant today. The book was published at the height of the Great Depression — 1936 — and was an instant bestseller. In its first year alone, it went through seventeen editions, and sold a quarter of a million copies in just ...

Unlawful Ways to Freeze Out Tenants

Many real estate agents work closely with landlords and property managers, so it makes sense for agents to want to help their clients as much as possible. However, if you become aware of a landlord or property manager being troubled by one of their tenants — or if you’re certain that you can replace a bad tenant with a good one — remember that bypassing normal procedures to evict that tenant is illegal. It’s so tempting to take action against a tenant who is a delinquent in paying rent or causing trouble on the premises, but remember that tenants — even bad ...

What Does It Take to Join the Six-Figure Commission Club?

Real estate agents who earn $100,000 or more a year seem to be of a different breed than the rest of the pack, according to a study by  InmanNext, a website operated by Inman News. Surveying 1,300 real estate agents who earn at least $100,000 a year, the study found that these agents tend to close more deals. Sixty-six percent of those surveyed said they closed 20 or more transactions in a year. Compare that to about half of those who earn $30,000 to $50,000 and say they closed fewer than ten deals. These high earners work longer hours. Forty-two percent ...

Understanding Property Managers’ Toughest Problems

Many real estate agents work closely with property managers in order to supply them with tenants and fill vacancies. Often, though, it’s easy to forget the many types of challenges, issues and even dangers that property managers face on a daily basis. If you’re able to walk a mile (or a hallway, or lobby) in a property manager’s shoes, it may lead to more empathy towards them and in turn, they may trust you to understand the challenges they face. Here are just a few: Backlash to rent increases Tenants are never happy about an increase in rent, but it’s an inevitable part ...

Foreclosure by the Numbers 2018

First, the good news: in Q1 2018, foreclosures were down 19 percent from a year ago, and 32 percent below the pre-recession average of 278,912 per quarter from Q1 2006 to Q3 2007, according to ATTOM Data Solutions, a national property database. Its Foreclosure Market Report shows a total of 189,870 properties with a foreclosure filing during Q1 2018. That has actually increased by four percent from the previous quarter. Here’s where it gets complicated: the report shows a total of 74,341 properties with foreclosure filings in March 2018. That’s an increase of 21 percent from an all-time low in the ...