The market growth we have seen during 2018 has recommenced.
Agents will have a big smile about this, but we should not ignore the challenges brought by the geopolitical framework (with concerns moving from local to global), and that sellers will face a competitive market due to high demand vs the number of properties on the market.
We all know that the quality and amount of listings an agent has is crucial to his/her success and in order to help you get more mandates, we have a few tips to share.
What goes around comes around!
When we are in the process of adding a property to our portfolio, it is easy to fall into the temptation and give it a higher price than its market value, especially when the demand is intense in the market and when the owners are aware of this trend. The owner wants to make the best possible deal with his property and the agent is often in an in-between situation where he has to manage the owner’s will with what the market is ready to pay.
It is easy to go after what the owner wants because the higher the price, the higher your commission will be. But our advice is: do not fall into this temptation because …what goes around comes around!
How long will the property be on the market for sale? How long would it take you to sell the property if it has a fair price? How much money are you willing to put on hold?
Do not forget that prices vary and if at this time they are high, it does not mean that the same happens in 6 months. You may fall on the risk of lowering the value of the property to below the initial fair price.
So please weigh the pros and cons and help the owner understand the market dynamics. After all, you are the professional!
Be the Neighbourhood Expert
Knowing your work, with its pros and cons, and knowing exactly everything that constitutes an element of professionalism will make you an expert. Is there a theater at the corner of the street? Is the supermarket open until 11pm?
Here is a small list to keep you rolling:
- Existing or planned public transport network;
- What are the existing accesses to the main road;
- Distance from the center;
- Existing and planned infrastructures (supermarket, schools, hospitals, sports centers, and others)
- Leisure opportunities (cinemas, theaters, and others)
- Safety
Know what already exists, and what is planned at the level of development of the neighborhood/village/city and apply the correct price to the property. Sell these features to buyers and satisfy the owner of the property while increasing your sales.
Dazzle with Data
It is important to know how prices have evolved in recent years and what most people have been looking for. Knowing the price per square meter, the most sought-after neighborhoods, and the average values will help you to do magic. By cross-referencing the data, you will be able to evaluate its value in a fairer and quicker way. On the other hand, you will also be able to predict some trends.
By using data you will be the real estate magician. We emphasize that the better a property is evaluated the greater the speed of sale.
Be Confident
If you want to be known as a market expert it is important that the market knows the values of the brand you represent. It easier to approach a customer when he already knows our brand/our name and its legitimacy.
The identification of an agent in the process of sale and mandates search is essential to build a trustful relationship with the client. Thus, it is essential to show coherence between your image, language, and the documents you present.
Do you know what will help you build a strong and trustful image?
Networking, networking… networking
1. ListGlobally marketing resources
Make sure you utilize the marketing kit personalized with your photo and logo. ListGlobally has launched a tool, the Marketing Kit, which is available through the Resources tab in your MyListGlobally dashboard. Our goal with the Marketing Kit is to help you win more listings and make more sales by providing you with a tool that helps you better explain your global marketing strategy to your clients.
On your MyListGlobally dashboard, you will notice a tab called ‘Resources‘. Here, you will find new personalized brochures AND reports that will inform and attract property owners. From this location, you can access helpful resources for several purposes – either for international Global Agent communications or for your targeted luxury listings audience.
2. Social media
Always build a positive image of yourself on social networks and be confident. Don’t hesitate to show all your glamour, elegance, and professionalism when you contact the customer. There is nothing like a confident and modest agent who is able to work for the client and that shows him that you’ll both work as a team.
Create partnerships, talk to other real estate agents and go above and beyond!
Imagine you are in the south of the country and you have a colleague who is in the north and has a client who wants to sell his apartment in the south. Do you think it is practical for the owner and your colleague to go to the south to close a sale, or is it more advantageous to share a commission and work with them because you are already in place?
And why not create a relationship with neighborhood merchants? Did you know that usually, they are the first ones to know the market opportunities? There is nothing like the local bar or cafe to get information and the latest activity in the neighborhood.
Be smart: it’s all a matter of perspective!
This topic is very interesting to all of us, let’s have a look at the RE/MAX Prestige (in Portugal) example.
Image Content Translation :
Do you know what’s the present value of your house?
Know it’s value and decide if it‘s the right moment to sell.
Knowing the reality of the Portuguese market, the agent in question decided to highlight the business opportunity that the owners may be missing at the moment. He needs to capture real estate properties by urging homeowners to think about what they can lose or gain if they do not sell their property right now.
Homeowners can be satisfied and may not even think, at this point, of selling. Yet they will think about the missed opportunity.
Deep down it’s all a matter of perspective. The way this agent addresses the issue raises the curiosity of the owner and instills a certain fear about the loss of opportunity. So it is an example that we highlight in this article as an intelligent way of capturing mandates.
We also recommend you to check this article about how a real estate agent convinces house sellers to face reality and accept a lower price.
Know more about real estate. Contact us!
