By Jason O’Neil
Referrals, referrals, referrals. We all get them and we all want more. We want referrals from our lenders, our title reps, our barbers, our past clients, and we especially want them from other agents. We love referrals because they are easy leads. They are not faceless Internet leads or the sometimes abrupt sign calls; they are real people who are friends of someone.
Referrals are easy to talk to for two primary reasons: One, they are less guarded because you were referred by someone they trust. Two, you have something or someone in common.
Over the past 12 months, 85 percent of my business has come from referrals. I, too, love referrals.
We track our business sources, but do we track our referrals? When I say track our referrals, I mean the why. Why does someone refer you? What is your referability? High, low, middle? Do you have any idea? Why will some clients run to the top of a mountain and scream your name? And why do others, who have worked with you dozens of times, not feel comfortable referring you to their closest friends or relatives?
Sometimes we aren’t referred because referrals are risky. They really are. If I speak up and say you should work with my accountant because he does great work and you end up not liking him, I look bad. If you love my accountant, well, that was to be expected. If I say nothing or don’t refer an accountant, I likely stay unchanged in your mind’s eye. So there really is a downside risk to referrals. But referring people is fulfilling — it makes people feel good to help other people and to give their opinions.
So, why should people refer you? How do you become more referable?
I think it’s simple: Continue reading »
By Scott Newman
With the market picking up steam, buyers are out there scooping up homes and they’re counting on you as their agent to help them navigate the treacherous waters of their transaction. When they are buying a condo, that path can be filled with even more landmines, and you have a whole new realm of elements to account for when advising your buyer clients. I’ve outlined some best practices for agents below who are representing buyers purchasing a condo.
Understand the Financials
Nothing will make you look more foolish than advising your client to make an offer, having it accepted, and then finding out there is something wrong with the building that prohibits financing. Review condo documents and know what’s going on with the overall health of the building your client is interested in — this is not just your attorney’s job post contract execution — it’s your job before your client ever puts pen to paper! Request a 22.1 disclosure, call the management company, speak to the listing agent — do whatever you need to do to ensure that the building your client wants to buy in qualifies for the type of loan your client is applying for.
Know Your Client
I cannot tell you how many times I’ve had a listing that gets put under contract, only to have the deal fall apart for ridiculous reasons that could have been brought to light long before an offer was made. Again, as the buyer’s agent, your job is to stay on top of these situations to ensure that you come across as a professional and that your client isn’t wasting their time. The only way to do this is to ask the right questions!
Do your clients have a dog or are they planning to buy one during their residency in the building? Are they planning to smoke inside their unit? Do they like to host company during very late hours? These can all be potential issues for a client as the rules in condo buildings can vary wildly, so it’s never safe to assume anything!
All of the above are examples of questions you should be asking to ensure that your client isn’t wasting their time. Get the right information ahead of time and call the HOA or listing agent personally to ensure that your client’s unique needs will be met by the building.
Do Your Homework
The time to find out whether or not the building has a pool or how nice the gym is should not be when you show up to the property with your client. Continue reading »
By Anand Patel
With conference season in full swing, I have met many new and seasoned real estate professionals debating if conferences are worth attending at all. For newer agents—the conference virgins—they look at the cost and automatically dismiss the events as too expensive to even consider. Some seasoned agents—those that have gotten rusty at it—are “too busy” to waste time at a conference. Is it worth attending conferences, events, and seminars? It all depends on your mindset going into it.
From my experience I have found that, in general, I learn more from fellow attendees than from those speaking on stage. This only happens if you make it a point to meet new people, share ideas with others, pick up tips from them, and then go home and IMPLEMENT something you learned. If you go in with an open mind and a clear intent on learning and sharing, you will find value in attending conferences. You may have heard the quote that “each person we encounter is a teacher,” well that rings true for those you encounter at conferences. Keep an open mind, filter out the bad traits and learn from the good you find in fellow attendees.
I just got back from our Florida REALTORS® Conference and can tell you I made some wonderful new connections (and referral opportunities) that will continue long after the conference ends as long as I work to foster those relationships. If I don’t keep in touch, then yes, it will have all been a waste of time. If I don’t implement anything new I learned, then yes, it was a waste of money. It’s all up to me to make it worthwhile.
Are you a conference virgin? If so, here are some tips for your first time (or if you are getting back into it): Continue reading »
By Brian Copeland
This week, I turn 40 and my future with you is, well, uncertain. While we’ve never defined “under 40” as what the Young Professional Network’s age limit is, it has turned into an awkward elephant in the room no one is willing to talk about. So, let’s talk about it.
We’ve heard “young and young at heart” as the basis for who we are and who we want to be. Is this program of NAR about youth, leadership entry or new, bright attitudes? I don’t know, but hopefully in this dialog today, I’ll have a clearer picture.
What if YPN is in the middle of turning the statement “60 is the new 30” on its head? What if 30 is the new 60? Huh? We’re in the middle of equipping, training and inspiring a new generation to have the knowledge, street-smarts and tatters of a seasoned veteran to this industry.
I look at REALTORS® like Tiffany Curry who is 32 years old. Already, she has been the REALTOR® of the Year for one of the largest associations in America. She has served as president of a major metropolitan’s Women’s Council of REALTORS® chapter. She has chaired her local YPN, served on a heavy-weight NAR Presidential Advisory Group (PAG), and sat on numerous NAR committees.
I see Kenny Parcell. Kenny hovers below that 40 mark with a resume that would support the “30 is the new 60” hypothesis perfectly. He’s been his local president, state president, NAR Leadership Academy graduate, NAR liaison, and chair of several leadership groups.
Are these examples the exception? They could be, but I would argue that this type of mentoring and nurturing is part of a new breed NAR has started to grow. So, that leads me to the most troubling question, should we be called the Young Professionals Network? Continue reading »
By Melissa Krchnak
I obviously am not an expert in what anyone else’s listing presentations are like, I only know mine. Yet I heard someone talking about the Olympics recently, and with my market’s emphasis on the need for more inventory, it got me thinking. Is your listing presentation like watching cycling or gymnastics?
I can dig both, and yet I watch them with a different level of interest. See, I can put cycling on and read a book or cook my breakfast or check Twitter. I know I probably won’t miss anything major and I’ll look up every now and then to see who’s ahead. With gymnastics though, it goes from one event to the next so fast. I’m so engrossed with how competitive it is, that I have to keep my eye on the TV or I’ll miss something great. So, is your listing presentation creating lots of interest with a fast-paced and quick finish? Or is it uneventful and lasting for hours?
My suggestion if it’s dragging on? Hit the high points, move through each piece effortlessly, and put a bow on it in 45 minutes or so. Any longer and you’re losing them. Remember what your mom used to say about visiting friends’ houses? “Don’t overstay your welcome!” Just get your agency and listing agreement and get out. You can get disclosures signed, pictures taken, etc., another time. This is strictly presentation time.
So, are your clients watching cycling or gymnastics when you’re presenting?
Melissa Krchnak is the assistant team leader for Keller Williams Realty in Rancho Cucamonga, Calif. Connect with her at kwrancho.com.