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Category Archives: Broker remarks

Stimulating opinions from Brokers regarding real estate subjects.

Your Reputation Counts

For good or bad, our behavior becomes our reputation. What we do communicates to others who we are. As much as the marketing world wants us to believe we can all spend enough money to define the reputation we want the world to see, it is not that simple.

In high school, one long-ago Fall in Bear Creek, Alabama, a classmate kept telling our basketball coach about all the things he was going to do to prepare for the upcoming season.

Note, it was not what he had done yet (which he could have been doing all summer). Instead, he was essentially bragging about what he was going to do.

Coach Roberts listened calmly, then replied, “Don’t tell me, show me.” That was all he said. Then he turned and strolled away. Coach wanted to see that actions matched the promises. The words alone did not make the case or sell the idea. And too many promises of great effort go unmet.

Of course, you already know actions speak louder than words. I’m guessing my classmate did too, but he still needed a reminder.

LOUDER ACTIONS

However, to expand that concept, I would like to submit that many actions speak much LOUDER than other actions. For instance, which are you known for?

•Posting listings… or marketing and selling listings?

•Blame the economy… or work daily to overcome the economy?
•Blame the homeowner… or lead and manage the property’s sale?
•Monitoring the project… or managing the project?
•Doing whatever the client or colleague asks… or finding out what they really need?
•Closing sales… or helping clients find the right service or product?
•Work that is “good enough”… or work that is really right?
•Learning about the client’s needs and goals as you work on the project … or before you start the project?
•Acting professional… or being professional?
•Great talker… or great “doer?”
•Nice person… or polite, effective professional?
These things are not that different, yet they are very different too. Which do you want to be known for? What do your actions communicate about you?

If your reputation is not what you desire, are you doing anything different to change or improve it? If not, why not?

YOU KNEW THIS, BUT…

I’m guessing I’m not telling you anything you don’t know and have not heard for years. Yet, if this is such common sense, why we do we see so many so-called professionals not follow this common sense approach?

My opinion, for what it is worth, is that this approach takes work. Too many are looking for short-cuts or they are willing to accept someone else’s advice that you can write a check and get a short-cut. Work is a four letter word. It is also an action that creates a great reputation. However, not everyone is interested, even if their reputation suffers and they are trying to cover that issue with slick material and fancy resumes.

Remarkable behavior, over time, builds a strong reputation. Once built, reputations can be difficult to change. That can be good or bad, but either way you are building that reputation every day. Even from inaction.

Be sure you behavior is positive, professional, and so client and company focused it leads people to literally remark to others about the great work and deeds you do. This will communicate your value more than any words!

Posted by Glenn Phillips

 

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What’s a call worth?

I was once told that we are not in the real estate business but we are in the prospecting business. After working in this business for 6 months without income, that fact finally sunk in. After that, my mission was to make at least 10 calls a day to people I didn’t know. That became my only focus. It absolutely worked.

How do you calculate the worth of each call? Simply track all your calls and divide the number of calls you made into your annual income. If you make $75,600 per year and you make 10 calls a day for 21 days a month a call will be worth $30.00. Your mileage may vary. Time to get started.

Not a new idea but very simple and effective.

Allen Stout, Broker

 
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Posted by on March 26, 2011 in Broker remarks, Real Estate

 

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Price Ranges of homes sold

Check out this link for great information on what price ranges homes are selling.

ranges

What does this mean?

1.  We should try to target list houses in the price range where the most sell.

2.  We should inform sellers of the odds of their houses selling.

3.  We should list only houses in the 100 to 150 thousand dollar range.

4.  We should look for buyers in the most common price ranges.

 
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Posted by on November 15, 2010 in Broker remarks, Real Estate

 

Top 10 Reasons to Suspect an Agent is Leaving

Here are the top 10 reasons why you should suspect an agent is leaving.

10. You notice a significant spike in the number of copies made.

9. Agent starts holding an OPEN HOUSE for another company.

8. Agent attends training provided by your competitor.

7. Agent quits coming to Sales Meetings.

6. Broker from another company calls and asks you why your agent is recruiting for another company.

5. Agent starts taking short term listings.

4. Agent starts using their own e-mail service.

3. Agent cleans out their desk moves office home.

2. Agent requests a copy of all your compensation plans and policy manuals.

1. Agent acts like you just fell off the turnip truck.

 
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Posted by on October 26, 2010 in Broker remarks, Real Estate

 

Advertisers responding to your contact link

Advertisers using your “contact us” link to promote their services. Can you believe that advertisers have the gall to use your contacts request to advertize their services? I get about one a day from my web site from these people wanting me to join their referral networks and other services. Any crackpot can do that but this is ridiculous because these people are really serious about getting some of your business. Next thing you’ll see is someone trying to recruit your agents from that link.

This would have to be a highly ineffective way to network in my opinion but I wonder if they actually get results.

 
 

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Is perception reality? What matters?

We’ve heard this so much over the years in the context of marketing strategies. If the public sees your name on enough advertising will they perceive that you are highly successful and therefore able to sell their home? Back in the fifties cigarettes were marketed by saying that certain brands had 67 percent less tar or that 94 percent of Doctors polled preferred a certain brand. The conclusion is that smoking their brand would be good for you. The reality is that smoking is bad for your health. At least the Surgeon General has seen through that ruse.

We all have known some of these high visibility companies who depend mainly on new customers to remain successful. The underlying reality is that the most successful agents/companies are those that understand that relationships and reputation will allow you to keep customers and get referral business better than the glitter of high profile marketing techniques.

It is a well documented fact in real estate that it costs 5 times more money to find a new customer than it costs to keep a customer or get a referral from them. Therefore, the public’s perception may be their reality but eventually the true reality will carry the day.

 
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Posted by on October 17, 2010 in Broker remarks, Real Estate

 

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3.8% Sales Tax in 2013, get the facts

There are many e-mails circulating about a 3.8 percent sales tax on homes starting in 2013 thanks to Obama Health Care reform. This is not a sales tax and only affects a small portion of sellers in high income tax brackets and is taxed on the profit.

According to FactCheck.com only a tiny percentage of home sellers will pay the tax. Only those with incomes over $200,000 a year (or $250,000 for married couples filing jointly) will be subject to it.

And even for those who have such high incomes, the tax still won’t apply to the first $250,000 on profits from the sale of a personal residence — or to the first $500,000 in the case of a married couple selling their home.

I think this stands repeating: ONLY those with incomes of $200,000 or more will be subject to it (or $250,000 for married couples filing jointly). And the tax will only be on the portion of your PROFIT that is above $250,000, (or $500,000 for married couples).
So… instead of an additional $15,200 tax on the sale of your $400,000 home. It’s possible you’d have ZERO additional tax if you don’t make $200,000 a year. And if you do make more than that… and you make no profit… you’d still have a ZERO additional tax burden. Let’s say you were lucky, you manage to make $300,000 a year in income, and you sold your home for a $100,000 profit. You’d only be paying $3,800. in additional tax. $11,400 less than the inflammatory e-mail suggests.

The goal of the e-mails is to distort the facts because someone has an agenda. Please do your homework before falling for this.

 
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Posted by on October 14, 2010 in Broker remarks, Real Estate