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Overcoming Seller Reluctance + 2020 Market Predictions

 

Are you finding that sellers are reluctant to put their home on the market? 

You aren't alone! One big reason for buyers and seller to hesitate entering the market is low inventory. When sellers fear they can't find replacement housing it creates a self reinforcing loop of even lower inventory for buyers with fewer and fewer homes coming to market. As real estate professionals we need to be able to answer the question of how we can protect sellers when they place their home on the market. 

In this quick video we provide some key insights into the market for 2020 as well as three key way to overcome sellers reluctance.  In addition we have three reports from our friends at KCM Blog that provide clear insight into the market for 2020 including mortgage rates, home sales pace, and appreciation rates. 

Mortgage Rates: 

Interest rates are predicted to hover at 7 year lows and provide an incentive for buyers and sellers to enter the market. 

Home Sales...

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Tapping into the Aspirational Goals of Your Clients

 
Your best clients helped you a ton last year - they bought and sold homes, they told their family and friends about you, they gave you encouragement, provided referrals, and were your biggest advocates. 
 
So what did you do to help them with their goals and dreams?
 
If the answer is not nearly enough then this is your year to embrace Aspirational Marketing.  Your best clients, your A+ group, and all of your friends have aspirational goals both personally and professionally. Your mission, your passion, should be to discover what these goals are and help each of them in any way that you can.
 
Why?
 
Because when you help enough other people achieve their dreams they will help you achieve yours! It's the power of reciprocity. When you focus on helping others you in turn will be helped. 
 
Where do you start? By asking the question, try using this script:
 
Listen I just wanted to call and say thank you for (referrals/doing business) last...
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The Annual Home Value Review Technique

 

If you are looking for a value added way to connect with your sphere of influence - the Annual Home Valuation Review is a fantastic technique that provides clients with something they are always interested in knowing but never want to bother asking you: What exactly is my home worth?

By offering to provide an annual home valuation you are providing your sphere with timely, accurate information and more importantly you are putting yourself in a position to receive referrals. Let's look at the scripting:

Sphere members:

Good Morning…I am now offering a value update service to all my friends. It’s free and it’s not about selling your home. It’s a report that provides you with an estimated value of your home annually. A lot of people find it useful for estate planning, insurance, and for financial planning. Would you like a quick update on your home value?

Social Media Post:

Annual Home Value Update - Have you checked your home value on Zillow? It’s...

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In-Deal Commission Negotiations

 

What do you say when a seller asks you to discount your fee or worse the buyers agent fee when responding to an offer? 

Your answer can set the stage for how the seller will approach all negotiations through out the sale. It can also impact how cooperating agents view your brand and future working relationship. 

Watch this quick video for ideas on how to respond effectively and also how to respond when the seller complains that you sold the house so quickly they shouldn't pay you the full fee. 


Do you need more leads, more listings, more buyers, and more closings? 

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About Jim Remley

Jim Remley is a nationally recognized expert in the field of residential real estate. Entering the real estate industry at the...

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New Twist on FSBO and Expired Lead Generation

 

What if you had a reason to call a For Sale by Owner or Expired Listing that created a sense of urgency and provided a real purpose behind every call? You can by using events.

Events are happening in your real estate business all the time. Closings, pendings, offers, even showings are events that create an opportunity to make contact with For Sale by Owners and Expired listings. By targeting the neighborhoods where these events occurred you can unlock more listings and more opportunities.

Check out this quick video for two scripts to begin using events as a marketing tool.


Do you need more leads, more listings, more buyers, and more closings? 

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Weekly Coaching Program: 


About Jim Remley

Jim Remley is a nationally recognized expert in the field of...

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What do you charge? Easy Scripts for Commission Conversations

 

What do you charge? 

You will hear this question hundreds of times during your real estate career. How you respond can determine if you actually take the listing, your earnings per hour, and how much you value your time as a real estate professional. 

When you fumble or fold by offering a discounted commission you not only do a disservice to yourself, you do a disservice to the industry, and your colleagues. Why? Because it signals to potential clients that fees aren't based on actual costs of doing business but on an arbitrary number that is negotiable. 

Professionals set their fees based on the value of the time, the cost and structure of their business operations, and their expenses associated with each client. As a real estate professional you should be doing the same. Check out these easy scripts for making those conversations easier:

What do you charge?

It’s a success fee. I don’t charge anything unless I bring you an offer and we bring it all the...

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Overpriced Seller? Try the One in a Million Script

 

I want to test the market...

I want to start high and work our way down...

I want some wiggle room...

Have you heard these comments from a seller during a listing presentation? Agents can often fall into the trap of allowing a seller to talk them into listing a home for far above what they know it will sell for and what the comparable properties in the market are receiving. 

To avoid this fate trying using the One in a Million Script.

Watch as Jim demonstrates how to present the seller with three different pricing strategies that will motivate sellers to think about a strategy rather than just the asking price. 


Do you need more leads, more listings, more buyers, and more closings? 

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Weekly Coaching Program: 


About Jim Remley

Jim Remley is a...

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Question: Will You Discount Your Buyer Side Commission?

 

Will you discount your fees so I can buy this house? 

A conversation that is happening more and more frequently is when a buyer asks you to reduce or remove your buyer side commission on your listing and pass the savings on to them. 

Their argument is that they will simply "represent themselves". Of course the reality is that you will still be the one writing the offer, negotiating the sale, opening escrow, arranging financing, attending inspections, negotiating inspections, attending the appraisal, and attending to a million other unforeseen bumps along the way until you reach a successful closing. 

So how do you respond to this request? Watch this quick video for three scripts to use in the field. 


Do you need more leads, more listings, more buyers, and more closings? 

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Weekly...

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Massive Opportunity - 84% of Renters Want to Own a Home

 

In a recent study conducted by the National Association of REALTORS - The Aspiring Home Buyer Survey   - it was found that 84% of non-owners would like to purchase a home in the future. 

How many opportunities does this create in your market? Check out this quick video to see how with a little research you can discover just how many potential aspiring home buyers are sitting in your market today.

Considering the fact that 32% of all real estate transactions occur with a first time home buyer. The potential market size even in a relatively small market can be absolutely massive. 

What's stops renters from moving forward with their goal of being a homeowner?

Often they need a REALTOR to give them a road map for success. This includes partnering with a strong local lender, conducting home buying webinars and seminars, creating a powerful buyer presentation, and incubating buyers as they put themselves into position to purchase a home. 

To get started check...

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Home Affordability Index + Home Price Appreciation Next 2 Years

 

Are homes more or less affordable than they were a year ago? 

According to the National Association of REALTORS homes are significantly more affordable today than they were a year ago on a national basis. Housing affordability increased from a year ago in May, moving the index up 5.6% from 142.4 to 150.4.  This even while the median sales price for a single family home sold in May in the US was $280,200, up 4.6% from a year ago. 

The reason homes are more affordable? Nationally, mortgage rates were down 60 basis points from one year ago (one percentage point equals 100 basis points).  Another piece of good news payments as a percentage of income went down to 16.6% this May and 17.6% from a year ago. 

Watch as Jim breaks down the numbers as well as projections on home price appreciation over the next two years, and provides scripts for talking to your clients!


Do you need more leads, more listings, more buyers, and more closings? 

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