By: Terri Murphy

My long time friend Mary posted on her Facebook that she was holding her home open and was “hoping” for some traffic.

I know that my friend Mary is a HAIRDRESSER, not a real estate agent!! I just had to call her and find out why she was holding an open house knowing that her home was listed with a licensed agent.

Mary told me that she was excited to find out that in her small town the houses on either side of her property were scheduled to be auctioned off on the upcoming Saturday from 10-12:00, and she had called her real estate agent to cash in on the free traffic by proposing the agent hold an open house on that designated Saturday.

The auction companies had blasted the media with the date, time and place and she really wanted to “take advantage” of the free traffic in hopes of snagging a prospect to look at her property while in the area.

So Mary scrubbed, staged and manicured her home to be ready for this onslaught of buying prospects in time for the 10-12:00 appointed time for both auctions to occur.   She patiently waited for her agent to drop off the open house signs…..The clock hit 10:00, 10:30, 11:00 and 12:00 – and FINALLY the agent arrived…AFTER the auctions had occurred and any interested buyers were long gone!  She had no timeline in her daily or listing schedule of activities to be appropriately on time to maximize this rare opportunity in a rural marketplace, nor did she seem to share Mary’s desire to be visible during this rare event in their small town!  The agent had completely missed the opportunity!

This lack of service is frustrating and downright rude and creates the question: Why should a seller pay you a fee when you aren’t pro-active about marketing their property?

As a Realtor® professional and as a friend of the seller, it frankly disappointed me that Mary has employed an agent that doesn’t understand the principles of SERVICE! …Nor does this agent have a clue about what it takes in to orchestrate today’s marketing strategy that gets a property sold.

If you are interested in pumping up your service model to exceed the expectations of your seller and create true differentiation in your service model when compared to your competition, you might want to ask yourself these questions:

1. Have you developed a timeline of activities you follow when you take a property listing? 
2. Do you share this timeline of marketing activities with your Seller?
3. Have you discussed with your seller the average marketing time and number of showings a properly priced property historically can expect in your area before going under contract?
4. Do you ask your Sellers what communication medium they prefer for their updates and showing feedback information?  Do they prefer phone? Fax? Email? Traditional printed mail?  Too many agents simply use email and assume this will suffice when your seller may prefer to connect by phone at least once a week or prefer both.  How will you know if you don’t ask?
5. Do you follow that timeline and communicate with your sellers what will happen on a daily basis from the first week thru the fourth week of the month so they are ENGAGED in the marketing process and can SEE how you are working to effectively market their property?
6. Do you provide a communication to that seller on a consistent weekly basis of what has been orchestrated in the plan you discussed at your listing meeting that shows accountability for your marketing actions?
7. Do you have a proposed revised marketing strategy after the first 30-45 days that might include a price revision, changing or adding photos, revising MLS copy to reflect any changes on the premises?
8. Do you counsel your sellers in advance about overpricing a property and how it can damage the initial marketing debut in their marketplace?
9. What plan do you have in place to adjust the marketing price if the property shows more than “x” amount of times but gets no offers?  Do you explain that having a ton of showings can simply mean the agents are using their overpriced property to sell others that have more to offer at a better price?
10. Do you also counsel your seller about offers that might occur in the first few days on the market so they don’t feel they have “underpriced” the property?

Many of these questions and concerns can be addressed when you first take the listing when expectations are high and communication with your seller may not be totally clear. Having a timeline of activities not only provides a framework for the seller to follow, but provides a structure for your services that they can monitor and you can show accountability for your efforts. When you can show your marketing efforts have been executed, it may be their pricing in the marketplace.

No one wants to pay for service they don’t get!   My friend Mary is already angry and disappointed at her agent’s lack of service that she EXPECTED and the listing has just begun.  Like any successful relationship, clear communication and expectations for services that we pay for makes for higher satisfaction from our consumer. 

Consider using a timeline of marketing activities, get the sellers approval, suggestions and concerns and then deliver what you promise on time every time.  Bad reviews travel faster than ever before, so focus on making every transaction end by creating another raving fan!

Terri Murphy is an author, speaker, communication consultant, and author of 5 books, including her latest with Donald Trump. She is the founder and Pres. of WomensWisdomNetwork.com and serves as CIO of U. S. Learning in Memphis.  email: Terri@TerriMurphy.com   or visit www.MurphyOnRealEstate.com  (on the way)

Napoleon Hill really knew what he was talking about when he said:

“Every adversity, every failure, every heartache carries with it the seed of an equal or greater benefit”, and when you think about it, real change only seems to happen when a new normal forces us to find new ways to do what we’ve always done.

 So let’s review for a minute. People have been needing shelter and housing since the beginning of time, and every day people need housing…and the financing to buy it!

And the one thing that never changes: People still prefer to do business with those they know like and trust.

 In today’s market, this golden rule still exists, but what has changed is how we have had to create new ways to serve those same customers in a “different” marketplace.

 So although the market and the marketplace have changed drastically, there are those professionals who understand that service survives any market fluctuations and ultimately thrives in what others refer to as a “bad market”. Here are a couple of great leaders that have turned their production from drab to dazzling by filling a need:

 Meet Denise Buser:

Realtor Denise Buser, a 13 year veteran real estate agent knows the challenges of immigrant families trying to start a new life in our country. Her own family relocated from Italy to this country and struggled with the many nuances of trying to have the great American dream…home ownership.

Denise saw a need to help other ethnic families in her Long Island area and opened a specialized real estate division catering to minority buyers and sellers. She is the first in her area to offer these special services through Casa Latina Royal Real Estate Company, catering to the Spanish speaking and multi-cultural borrowers in her marketplace.

 This franchise specifically targets multicultural communities and includes any and all ethnicities. They have agents that speak Polish, Spanish and the list goes on.

 Denise says, “Often there is a misconception that these families can’t afford homes, and that is so wrong! They need guidance and help to get themselves prepared to buy, and when you invest in them, the rewards are staggering! We help them establish better credit, help them budget to save money each week, and even help them organize their business books so we can get them to qualify for loans in the future. I could never do this without my lender partners who are willing to invest in this niche for future production.”

Denise added; “I work with my lender partners to set them up for buying by strategizing the appropriate ways for them to responsibly buy a home. FHA has proven to be the best thing in the world for many of these people, who often can save the 3.5% down and if this tax credit comes through the flood gates are going to open up! That’s why they are here in America…to own the dream and their referral network is endless. If you help one family, you get the whole neighborhood!”

 She went on to say, “But without my lenders, I can’t do anything for them…it’s a true partnership! If we didn’t have a powerful partnership with the same objectives, my deals wouldn’t go anyplace!

 Denise says they now have families in their pipeline that she and her partners have in process to repair their credit, or as they recover from short sales they are working together to get them in affordable housing as next year’s buyers. They want to spend the rest of their life in their home, and my lender partners help me do that…we all win!”

 Cleary, Denise and her lending team have penetrated a niche that is paying off now and into the future.

 Eric Zantonelli, loan originator from Stillwater, Oklahoma works with his agent partners to help them bridge the buying gap if the agent’s prospects don’t have the FHA down payment. Eric studied and became well versed in utilizing the USDA Rural housing program which, in his opinion, is one of the very best loan programs around. He found that most consumers, as well as most real estate agents, knew very little about this special financing program.

Eric counsels his agents to consider this RURAL program when buyers who qualify simply not have the 3.5% to put down that FHA requires and the property meets the USDA location guidelines.

He says, “An important time sensitive benefit for using this program is that USDA has not updated its maps since the year 2000 and there are now brand new neighborhoods in some larger towns that still qualify, that will not once the maps are redone.”

To secure prospects for this special financing, Eric says, “I have been using call capture and financing signs to help Realtors show people how they can buy their (agent’s) listings, that may be located just outside of the larger population areas, and still are within meet USDA location guidelines, with no money down. My agents are happy, their buyers and sellers are happy and everybody wins!”

By being a resource for financing opportunities that are less well known, Eric’s realtor partners are comfortable in knowing he is working on their behalf to secure the best financing for their customers and clients. Eric says, “Realtor loyalty is hardly an issue when you can truly be a resource to your team that helps make transactions happen”.

There are hundreds of ways to be of service in today’s market, as customers are buying and selling every day. I’ve been writing and studying   agent and LO success stories for several years and one thing is clear: Realtors that establish strong alliances with expert loan originators save money, and make more sales!

For more articles on Realtor-Loan Originator Relationships, visit www.TerriMurphy.com

Terri Murphy    , author, speaker and consultant to the Mortgage Industry can be reached at: Terri@TerriMurphy.com or www.WomensWisdomNetwork.com

I LOVE REAL ESTATE and I LOVE tough markets! If you want a quick start in real estate SALES, there are some prime activities you can put in place right now! Successful Real Estate is all about SYSTEMS that work for you and with you 24/7 in order to engage and convert the largest buying segments of the public which are GENX/GENY…So here are a12 ways to get you going:

1. Get Social: Establish yourself on Social Media, including LinkedIn, Facebook and TWITTER – Join ActiveRain and get NOTICED!  (FREE)

2. Get Web Savvy: (www.RealProSystems.com is one of the best all around turnkey, full marketing websites –You must have a website with a blog and the one here is a GREAT value!

3. Set up a Blog site/website (TypePad, WordPress- are easy and required to give your website the necessary interaction and option for participation you need to have presence in today’s social media marketplace. In order to be seen, you need to be heard, so having a blog that promotes interaction is a necessary part of your overall marketing strategy.

4. Take advantage of the power of podcasting for your area. Do your own using _____.com or use a turnkey service like www.TalkRealty.com. All you do is pick up the phone, read a script and the rest is done for you.  There’s an affordable monthly fee for the service and it is a great marketing tool that provides a fresh outlook both nationally and locally every month.

5. Load up your tool box with POWER TOOLS: 

a. Virtual Tours: Definitely use a good virtual tour company that offers another “automagic” notification of the seller to inform them of current/historical views on their property. Studies prove that properties that have a virtual tour get 40% more VIEWS!  Obeo.com is a company that provides interactive options, like creating a website for a property within 24-36 hours after listing with the address as a domain name (e.g. www.257Lookout.com) and it has tools and activities to ENGAGE the GenX/Y group with Style Designers (change the color of the walls, cabinets and floors with a click of a mouse to your desired color) – One of their best features is their turnkey, easy option for printing brochures, etc. with one click! 

b. You must use a PDA or a laptop computer for presentations and connection to your database with a WIRELESS card for internet access- Go Real Time and PAPERLESS!

c. Building a solid  database  is THE NUMBER ONE important tool you MUST have in order to engage, support and nurture clients for life. Use OnlineAgent, TopProducer, Outlook…pick one and USE it!

d. Get a Call Capture system so you never lose a call – don’t just depend on your company’s voice mail – especially after you start listing properties –There are several out there, like BuyerAquire, 24/7Call Capture, but start tracking to get the scoop on which of your marketing efforts are working best. They are available for a monthly fee and generally have no long term contracts.

e. Check out getting a program that provides TEXT messaging options from your yard signs! It’s the latest way buyers are seeking real time information and has great follow up should the pricing or options change. Check out Goomzee.com

f. Have a pre-appointment system to set you apart from the other agents vying for a listing. By delivering a pre-appointment listing package, you set yourself apart from the competition from the get go with outside the box service, third party testimonials and systems that communicate you’ve got it going on! (Go to www.MurphyOnRealEstate.com for a free report)

6. Establish Strategic Partnerships- start interviewing and building your strategic partners to work smarter, not harder and leverage their expertise to expand your service model.

Download a FREE no obligation Interview Questionnaire at: www.TerriMurphy.com  – set up a referral network with lenders, CPA’s, Financial Planners and Insurance providers that seriously are interested in mutually supporting your network with their expertise and vice versa.

7. Be an EXPERT on your area, your niche, your specialization, a specific neighborhood, part of town, – Exhaust the MLS, go to the TAX RECORDS, Drive around and check out the For sale by owners in the area…research expired listings, check out Short Sales/Bankruptcies/Foreclosures – and GET REAL GOOD  at a minimum of at least one local market segment.. People will pay EVERY day for EXPERTISE!

8. Ask or pay to shadow a top producing agent for a day or so – there are several that will – check out www.GoStarPower.com for a list in your area (Sign up for their FREE ezine and daily tips)

9. Get a COACH – There are great coaching services out there, but be sure you get a coaching system that keeps your feet to the fire to engage a change in your behavior so your investment is smart and profitable. Find a service that gives you every tool you need to run the BUSINESS of real estate, not just learning how to SELL it.  You need business plans, prospecting systems, tried and true resource referrals. Choose a coach that GUARANTEES results and tracks your accountability.   Check out www.PQPipeline.com

10. Plan your week in advance: Even if you are new to the business, or just in slump…It’s EASY to play real estate! Start off by setting aside prospecting time, follow up with prospects, interview strategic partners, tour properties in the area in which you want to specialize, and take good notes – do other peoples open houses (within your company) in the area you are wanting to brand – check out door knocking restrictions…so many options to get out there and help people sell and others to buy!

11. Get LOTS of education! It’s EVERYWHERE!  Check out NAR’s full FREE library!  Just ask and they’ll send you a ton of articles, and resources. Start planning now to get your professional designations: GRI, CRS, etc –Certified Staging Professional, GREEN specialist, – and the list goes on….people are impressed with EXPERTS…so be one!

12. Plan down time – work like crazy when you work, but always reserve time to learn, live and love your family!

 
Terri Murphy, Author of 5 books, her latest with Donald Trump. She is a Speaker & Consultant can be reached by email: Terri@TerriMurphy.com or for more information visit www.MurphyOnRealEstate.com

This is the featured video from the “Doing Business In Tough Times, Strategies That Work!” Seminar held Friday February 3, 2009 at the Hotel Vancouver. Prestigious member of the Speakers Round Table, was BCBusinessmagazine publisher Peter Legge, and on this film is interspersed business wisdom from such luminaries as Premier Gordon Campbell, Claire Newell, and Bob Rennie – Great Motivation! Great Insight! Great Leadership!

Be Bold!
Best Regards,
Terri

Terri Murphy, Pres. WomensWisdomNetwork.com
CIO, USLearning.com-Featured author with Donald Trump- “The BEST Real Estate Advice I Ever Received”

901.767.0000 Fax: 901.767.5959

Terri@TerriMurphy.com

www.TerriMurphy.com
www.WomensWisdomNetwork.com