Holiday Listings

Each year, about this time, Realtors across the country hear those same three little words “…after the Holidays”. The real estate market tends to go into an economic hibernation for a couple of months as activity slows down. Our focus shifts from seeking listings and promoting sales activities to turkey and hanging out with the family.  We plan our cross-country trips, hang the lights, buy gifts for our loved ones, and make sure we are stocked up on eggnog. Mmmm, eggnog!

For our clients, it is just as stressful a time of the year as for us! Not to mention the kids. Oh yeah, they’re around! Many times, the last thing our sellers want is the added stress of selling a home. So, each year, about this time, we resign ourselves to having a slow month or two. These are all valid points, but certainly not the only points to ponder. This December could be a productive work month if you know how to position yourself.

Occasionally, I will send out a postcard to my farm area entitled “8 Reasons to List during the Holidays”.  The intent was not only to promote myself and the services I could provide, but also to create a shift in the mind of the seller who had already decided to put off listing until the New Year. I would also send the little card to my current listings who I knew might expire during this period. I will share a few of those ideas with you.

First, the listed home is already looking pretty! No need to “tidy up” before a showing or make the place look festive, or bake wonderful smelling cookies in the oven to make it all seem like home. It already does. The owners did your staging for you!  There’s also no need to cut the grass just before a showing appointment.

For sale in snowAnother good consideration is the Holiday schedule itself. Many times, manufacturing plants and other businesses will completely shut down for a couple of weeks.  This means those “by confirmed appointment” sellers are now much more flexible, and easier to reach by phone. The brokers appointment system can simply block out important family days and sub-Holidays like New Years Eve. Buyers are in the same boat with extended vacation and many want to take advantage of the free time.

Another key factor, and perhaps the most important, is a smaller market! Remember, a lot of sellers are thinking “…after the Holidays”, and the inventory actually shrinks. Real estate is already competitive, so why not take advantage while the competition is on hiatus. Not to mention, come January, all those new and “new again” listings will twinkle in our MLS system like lights on a tree.

Plenty of people, people just don’t want to get out in the cold. However, if someone is willing to bundle up, schedule an appointment, and take a meeting with a Realtor in the dead of Winter, they’re serious! It’s a good opportunity to eliminate the “Looky Loos” who are less than serious and think of house hunting as a hobby. Buyers are also stressed out and otherwise involved, yet if they take the time to see a home with your sign in the yard, they may just be willing to put ink on paper. You couldn’t give your sellers a better gift!

These are all great considerations when it comes to working for your clients, but there are distinct advantages for the professional as well. Not only is the overall market better for our clients, but it’s better for YOU! For years, I have made myself available to anyone and everyone who want to buy or sell. Without fail, I always pick up new clients at this time because everyone else had their phones turned off. Consistently, I heard stories of how people must have called a dozen agents, but no one picked up or returned their call. Well, I do, and I get new clients out of it, too. Some of them will be people relocating to the area in a few weeks or months, and had this time to look for properties. I don’t mind the delayed gratitude if I know the buyers are serious.

Yes, there are a lot of points to consider during the Holiday season, but your mental default should not be that of “Nobody wants to buy or sell during the Holidays”.  By working smart and being available, you just might be able to put a nice little bow on the end of your business year.

 

SHOW Them You Mean Business!

Sales can be a fickle thing. Fickle because professional salesperson has to deal with other human beings. With that, comes all the thoughts, feelings, miscommunication and paranoia of those prospective clients. Throw a new home in the mix and you have a recipe for disaster!

In any industry, the onus to explain the process of how a customer can take advantage of a product or service falls to the sales professional. Ethically, this should include all the caveats of finalizing the agreement and disclosures any unforeseen liabilities. In real estate, this is a part of an agent’s fiduciary (financial) responsibility. A Realtor may market well and give sound advice when an offer comes in, but what about the period in between?

This is the time where clients, especially sellers, have the most anxiety and need a little bit of hand-holding. Yes, dealing with someone else’s emotions and frustrations is part of the job.  If one becomes a real estate agent because he loves beautiful homes, but dislikes dealing with people and their problems, then he is in exactly the WRONG industry. At the risk of sounding cliche, it really IS a people business. The best way take the temperature of your client and avoid a potential melt down is with good communication. That means preparing them from the very beginning.

People want to be led through the real estate process. They want to know what to expect. There are hundreds of things that may go wrong, and many of them are out of the Realtor’s control. What is in the control of the pro is how hard he or she will work on behalf of their clients. Over a decade ago, I developed a marketing plan detailing what I will do in the first 30 days I have a home listed. It was a way of actually showing what I would do. This is a small part of what I share in my Improved Communications for Real Estate Professionals” seminars. However, it is an important one. If I am going head-to-head against another professional for a client’s business yet they do not have a marketing plan, who do you think the prospect will choose?

Marketing Plan

Note, this 30 Day New Listing Marketing Plan does NOT guarantee I will SELL their home in 30 days. It simply reiterates what I am doing to get the home sold while I have it listed. Part of which, is good communication.  Having a frank conversation about what you will… or will not do to represent the client is not only sound business, but it will prevent miscommunication down the road. There is nothing new here. In truth, this is a culmination of several ideas I gathered along the way. A Realtor… or any other industry professional should have an explanation of serviced they can readily share with their prospects.

Keep watching for my latest “Improved Communications for Sales” workshop.

http://MomentumSeminars.com

What is Your Elevator Speech?

Imagine hopping into an elevator to meet with an existing client on the 14th floor. You overhear the lady next to you state to a coworker she needs to purchase a new Acme model no. 5, extra-large green widget for the downtown office. Wait a minute; YOU sell Acme no. 5, extra-large green widgets! It’s time to spring into action, but you have less than a minute before the elevator reaches the 14th floor and your new prospect gets away. No time for the Power Point, just enough information to pique curiosity, and set an appointment. That’s an “elevator speech”.

Of course, it need not be in an elevator, escalator, or restroom stall. For those of us in sales, we might have this prepared already. But have you practiced it lately? For those of us not in sales, it’s a good idea to develop one for your church, civic club or next job interview.

According to Mindtools.com, there is a simple six-step formula for creating your own “sales pitch on the fly”.

1 – Identify your goal. What is it you wish to accomplish? To set up a sales presentation or get the name of the decision maker?  just to find out if the strangers organization is hiring or do you actually want to set an interview? At this stage of the game it is probably best to tread lightly and simply get the contact information.

2 – Explain what you do. What do you want your new found friend to remember most about what you say?

3 – Communicate your uniqueness. What makes you different from all the other salespeople? Is it your experience or an innovative approach?

4 – Engage with a question. Take the “temperature” of the receiver rather than trying to convince them of something. “Does that sound like something your company needs?”

5 – Put it all together. Make it informative, yet very concise. Always include an initial “ask” that isn’t too pushy.

6 – Practice. Louis Pasteur stated; “Chance favors the prepared mind”, so be ready! Remember, a “sales pitch” is a SPEECH. All great speakers and actors have to know their lines. You have to practice it, if it is to be effective.

http://MomentumSeminars.com

 

 

I Remain Neutral!

In real estate, a big part of the professional’s job is to advise his or her clients. When it comes to working with sellers, many times it is necessary to advise them as to their choice of color schemes. This is a very delicate situation since, the last thing we want to do is insult our client’s sense of taste by recommending they repaint or do some light remodeling. It implies there was an issue with their choices in decorating. Yet, that is exactly what we must do with our clients many times… ADVISE, not insult.

Utilizing colors of a light or medium hue shows a room at its maximum size. OK, the dimensions don’t change at all, but white does better reflect the light, which makes it APPEAR to be decoratelarger than the same room painted, say… brown. It also minimizes the shock value of the sportsman who tours a house where the little girl really loved pink. No matter the size of the back yard, he’s just going to remember the pink bedroom.

Often, we speak in terms of using “neutral colors”. But keep in mind, those who are design challenged, don’t know what neutrals are. Otherwise, there probably would not be an issue in the first place. I provide a palette to my clients of off-white, parchment, gray (really light gray), eggshell, or even (I’m about to go nuts, here) taupe and beige. I simply create some “swatches” on my computer, print it off, and hand it to them.

Yes, in larger homes, potential buyers do expect a certain amount of professional decor. However, the blood red walls of a large dining room that might have worked a few years ago, will not work in the living room of a 1200 square foot home now. It’s simply too gloomy.

If you have been in the business long enough, you have come across the Tennessee football fan who painted the outdoor trim in U.T. Vols orange. By the way, he KNOWS he has to paint it, but just doesn’t want to go through the hassle. This is your opportunity to advise your client. He’s waiting for it! Besides, what if the eventual buyer is from Alabama? As I tell my sellers, “I’m not trying to guess what the one in ten will like, but rather avoid what I know the nine in ten will not like. Don’t let a bad paint job stand between you and your closing the sale, or worse your clients ultimate goal… selling the house.