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 ...

The State of the Commission 2018

In the United States, real estate agents make about $75 billion per year in commission payments, according to mortgagecalculator.biz. The median gross income of realtors® was $42,500 in 2016, according to a 2017 study by the National Association of Realtors®. That’s an increase from $39,200 in 2015. Drilling down to specific statistics are hard to come by; these are national commission percentage averages recorded by Real Trends, an industry consulting firm: 1992 = 6.04% 2005 = 5.02% 2011 = 5.30% 2013 = 5.38% 2014 = 5.18% 2015 = 5.26% 2017 = 5.12% In late 2017, Real Trends president Steve Murray, wrote: “The average commission rate ...

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 ...

Americans Most Preferred Way to Invest Money: Real Estate

Despite all the political and social upheaval of the last few years, some things in our culture remain consistent. One of the more unwavering rules of thumb: real estate is one of the best ways to invest money and become financially secure. According to a recent survey by bankrate.com, real estate remains the most preferred way to invest the money that won’t be needed for at least a decade. In fact, this is the third year in a row that real estate topped the list. The second preference: no-risk cash investments, followed by stocks. By the numbers: 28 percent ...

Selling Land — Why It’s Not Like Selling Houses

It may not look like much at first — mounds of dirt and maybe some trees — but selling land is a lucrative business (and yes, there is plenty more land left to sell). However, the methods and dynamics involved in selling land may not exactly mirror more traditional real estate sales, like residential and commercial transactions. Often, land itself looks rather generic and undistinguished. If this is the case, the best-selling strategy is to emphasize the location and income potential. Ask many questions; find out exactly how your client plans to use the land. Not every client may be automatically looking to ...

The Transition to Real Estate Development

You’re already rolling in an entrepreneurial career — transitioning to real estate development will keep you in that creative, self-starting state of mind. You can develop both residential and commercial properties, and you’ll continue to negotiate rates and contracts. Being a licensed real estate agent is already a good first step towards a career in real estate development. This bolsters your experience in the real estate field and the various types of properties that come under development. You’ll also become familiar with price ranges and negotiation nuances. Another great way to get on the development fast track — work with a ...

Home Buying Traffic Continues to Stampede

“Strong” is the word for recent buyer traffic, according to the January 2018 REALTORS® Confidence Index Survey. This report measured buyer traffic conditions from November 2017 to January 2018. Compared to conditions exactly one year ago, Realtors® responded that conditions ran from “stable” (unchanged) to “very strong.” The states with the strongest buyer traffic: Washington, Idaho, Nevada, and Utah. Even the states hit by hurricanes — Texas and Florida — reported “strong” buying activity compared to a year ago. Two states reported weaker traffic than a year ago: Alaska and West Virginia. This may be related to the decrease in oil prices ...

Use Virtual Reality to Your Clients’ Advantage

Many real estate agents may feel intimidated or threatened by the advent of virtual reality (VR), but this awesome new technology can be used as a very effective (and dazzling) tool to help and sell to clients. VR may look like a game, but it’s a very serious marketing strategy. VR is a technology that allows clients to see a property through headphones and specialized goggles. Some VR can also be seen through phone apps, laptops and other devices. VR allows the ability to show a client a property — even in other cities and states — without having to physically be ...

The 10 Worst Home Showing Offenses

You could be the best real estate agent in the world, but if your sellers are not doing what they can to bring quality to the home showing, all may be lost. REALTOR® magazine polled 50 buyer agents, revealing the biggest deal breakers when it comes to home showings. After 20 years of showings, Elke W. McMenemy, ABR, CIPS, broker-owner at St. Augustine Real Estate Inc. in St. Augustine, Fla., told the magazine that she has  practically seen it all, from the “fully loaded litter boxes” to the “roach-infested ovens.” “These situations have proven to be frustrating and embarrassing to my ...