By Jonathan Osman
Step 1: Find a buyer. In my market, the unemployment rate is 11.1 percent and the under-employment rate is around 16-20 percent. While a few years ago, one could conceivably purchase a house without a job; today, employment is essential.
Step 2: Find the buyer a loan. As long as the buyer has a job, modest credit scores, and reasonable debt load, this can be accomplished with relative ease. However, only 75 percent of buyers ever make it past Step 2.
Step 3: Find the house. SO VERY EASY especially with only 24,000 homes in the market to choose from; 5 percent being REO, and the buyer wants “a deal.” The buyer then proceeds to view all 24,000 homes, making offers at fifty cents on the dollar, with only a $10 earnest money check.
Step 4: Under contract: Oh yeah baby. I can count the dollars now. Just sit back and wait for the closing day. If that were only so true…
Once the home is under contract, now there stands a nearly insurmountable set of obstacles that will kill any transaction such as (All of the following actually happened at some point in the last 3 years):
- Did the inspection reveal needed repairs? Yes. Will the seller repair? No! Deal dead.
- Does the inspector freak the buyer out over unnecessary repairs? Yes! Deal dead.
- Does the house have mold? Yes every house has mold? Buyer freaked? Yes! Muerto.
- Did the house burn down before closing? Yes! Does the buyer still want it? No! Done. Continue reading »
By Brandon Rodriguez
Barriers are never good when selling a house. I know that all the good agents know this and have instructed to their clients the harm this can cause. However, the barriers are still up.
One weekend, I scheduled property to show for a client. The list was ready and the phone calls to our Centralized Showing System were being made. Mind you, I had at least 11 to show at the request of the client. These are real scenarios and my personal thoughts behind them.
House 1 – “Can only show between the hours of 10 a.m. and 2 p.m. with a one-hour notice.”
My Thought: This is a four-hour window. You might think to yourself, “Brandon, there is a good reason for this.” The seller (insert your reason here). In a buyers market, this four-hour window will not get the seller many showings. Buyers are working people who usually have jobs between these hours. Buyers will only see homes when it is convenient for them. “Well, if they love the house, they will make time.” Not so. They will move on to the next house and forget “the home they loved.”
House 2 – Day one listed the property for $400,000 and day three listed property for $415,000. Continue reading »
By Brandon Rodriguez
In real estate we always talk about the best technology, the social networking, the closing of a sale. We sometimes forget we are not super heroes, we are human. Our livelihood is dependent on our personalities and how we deal with stress. We all know real estate can be stressful. So how does one move on? The same determination, ambition and will-power that got you in the business will get you over the obstacle.
I see this day in, day out, practitioners give up because life placed a mountain in front of them that seems impossible to climb and overcome. That agent that was moving forward has now decided to get out of the business because of financial or personal issues. It does not have to be that way.
Why am I talking about overcoming life obstacles? I want practitioners to know they are not alone and to stay in the business. In December my grandmother was placed in ICU. She raised me from birth and I called her mom. My business was doing great, I won a national award, and then tragedy happens. I placed everything on hold to be by her side. She was bad and we had to make tough life changing decisions. Mid January she passed away. My heart was torn, and my mind confused. I could of fallen into a deep depression, and given up on my company, agents, and business. This was not something I was expecting, nor ready to deal with. This obstacle could have ended my career. Continue reading »
By Jeremy Williams
“Consider it pure joy, my brothers, whenever you face trials of many kinds, because you know that the testing of your faith develops perseverance. Perseverance must finish its work so that you may be mature and complete, not lacking anything.” James II: 2-3.
If you are in the real estate business for a period of time, you will at some point deal with obstacles. Some may be trivial, while others more complex and wearing. But we must know that in the grand scheme of things, all obstacles are small. It is easy when dealing with an obstacle in our businesses to be side tracked from our tasks and sometimes even consumed.
So how does one overcome when faced with a difficult time? Perseverance!
“Just keep on keeping on” is an old adage that comes to mind. When faced with an obstacle, don’t give up, just keep on going. Do what you know is right and don’t allow the issue you are facing to consume your thoughts and time. Persevere.
Stay to the tasks including lead generation instead of dwelling on a particular client or transaction that may have wronged you. Persevere.
Take time to re-read your goals, objectives to reach those goals, and your mission when you are distracted from your purpose. Persevere.
You and I will face obstacles in our businesses, or you may also call them storms in your life, but the great thing about a storm is that it will pass. Persevere!
Jeremy Williams of Keller Williams Realty NE in Kingwood, Texas specializes in the residential real estate market of Kingwood, Atascocita, and Humble, Texas. Visit his Web site at www.williams4yourhome.com.
By Kenneth Culbertson
“Who are you to tell me that I need to bring $10,000 to the closing table? You’re just a kid!” ~ Seller
These are the types of words I would hear when I was first selling real estate back in 1995 at 23 years of age. How would I overcome such critique? FACTS and STATISTICS!
The numbers don’t lie – I would look at things as objectively as possible and show my customers the numbers as sincerely as possible. I figured that what I lacked in “experience” I could make up in both fact-finding and delivery. I would have to offer more knowledge, more enthusiasm, and more effort.
Over time, these qualities would lead to referrals and repeat client transactions. My key to success as a young REALTOR®, as well as a seasoned agent now (38 years old, 15 years experience) has been to surround myself with top notch professionals so I can be a quality resource for all things real estate. Clients gain confidence and trust – two of the leading reasons buyers and sellers choose their REALTOR® – when I provide the resources needed to structure a smooth flowing transaction.
Ken Culbertson, known as “The HOME Coach,” is a broker-associate with Keller Williams Realty in Cherry Hill, N.J. Visit his Web site: www.kwhomecoach.com.