Remind Your Clients That You’re There for Them

By

remind your clients that you're there for them

Jim Anderson of Realty Executives based in Fort Collins, Colorado recently reached out to his customer service representative to share his latest success story with us.

After signing up with HouseHunt in May of this year, Jim has had about a dozen closings, including one that came from a HouseHunt lead. Our effective training classes and webinars have played a big role as to why he has experienced so much success this far into the year.

HouseHunt’s Customer Service department and Sales team have always stressed the importance of following up with a lead right away, and it is this bit of valuable advice that Jim has taken quite seriously.

Remind Your Clients that You’re There for ThemOnce he receives a lead, Jim immediately contacts his future client by letting him/her know that he is available to assist them whenever they are ready. He is never pushy, as he understands that so long as he keeps in constant contact with his leads, they in turn will come to him when they’re ready to take the next step.

Jim currently owns the Fort Collins, CO and Wellington, CO territories where he specializes in various types of real estate. His most recent closing was a single-family residence that closed at $475,000.

Like many of our member agents, Jim truly loves his job. When asked about any closings that stood out to him, he said that he simply enjoys helping families move into their first home and watching their children’s eyes light up as they realize that this will be the place that their family will call “home” for a good part of their lives. Helping others achieve the ultimate goal of homeownership is something that Jim has realized he was always meant to do.

Jim, everyone here at HouseHunt is honored that you have allowed us to share in your passion of helping others achieve the American Dream of homeownership. Congratulations on your success!

Click to Enlarge

 

Find us on Google+

3 Free Infographic Templates for Your Local Market Reports

By

Here at HouseHunt, we believe in the power of infographics. They are a fun way to convey information, and can easily be shared online via social media. We’ve made infographics for otherwise-boring information like how to prepare for a listing interview, to silly topics like #RealtorProblems.

Free Infographic Templates

One thing every real estate professional needs is market reports. This slew of data isn’t normally very interesting for your customers. But with the help of some fun graphics, market reports aren’t so bad.

Below are three free infographic templates for you to use in your next housing market report. These are in PowerPoint format, so you can easily plug in your own information and save your newly created graphic. Mix and match elements you like from the three formats. Each one has it’s own unique purpose, but we hope they all spark some creativity and empower you to grow your business through viral internet marketing.

Local Report

This template is designed for you basic mover; someone who is moving to a new house but staying local. This is a bit more seller oriented, as they will have to sell their home before they can move forward with their next one. Click here to download.

Local Report Infographic Template
Local Template

 

Out-of-Towner Report

This format is oriented for someone who is moving to the area for the first time to buy a house. It is more buyer-focused than the previous format. More importantly, it features US Census data about the community you live in. Highlighting the area is a great way to help your buyers feel at home before they even pick a home! Click here to download.

Out of Towner Report Free Infographic Template
Out-Of-Towner Template

Professional Report

Can’t decide between the two formats listed above? Play it safe with a general market report that allows you to touch on all of the most important data without excluding any of your potential audience. Click here to download.

Professional Report Free Infographic Template
Professional Template


Find us on Google+

Top 10 Reasons a Home Won’t Sell

By

Having a listing that won’t sell is an incredibly frustrating situation. Why can’t you get that home sold? Here are the top 10 reasons a home won’t sell and what you can do to remedy the situation.

top 10 reasons a home won't sell

1. The House is Overpriced

This is usually the number one reason a home won’t sell. An overpriced home just isn’t a practical investment for most home buyers. As should’ve been revealed in the comparative market analysis (CMA), what other, comparable homes have recently sold for should give you a good estimation of a reasonable selling price for the listing in question.

If the seller is standing in the way or insists on a higher selling price due to his/her emotional attachment to the home, try to help him/her be more objective regarding the true value of the property.

2. The House was Recently Purchased

According to a recent report by Redfin, homes that were purchased or refinanced in the past seven years aren’t likely to sell in the current market. This is because buyers are more likely to buy a home that has been occupied by the current owner for more than seven years.

3. It’s a Buyer’s Market

If the current market is a buyer’s market, meaning there are a lot of homes on the market to choose from, then the home may not be selling due to tough competition. If it’s a possibility, you may decide to take the home off the market and wait for inventory to drop.

4. The House is Overly Personalized

You want buyers to imagine themselves living in the home, so make sure your clients remove or store their personal items. It’s rare that a buyer will have the same taste as the seller, so making the house as neutral as possible is your best bet. Making the house less cluttered and more tidy will also make buyers feel more comfortable in the home.

5. The Seller is Inflexible

If you are having difficulty with your clients, it may be time to sit them down for a chat. Some sellers are inflexible with showing times and don’t make their homes as accessible and available as possible. With these clients, you need to reinforce that their lack of flexibility will result in their home spending a longer time on the market, and the longer a home is on the market, the lower the selling price will be. Furthermore, reinforce that if the house doesn’t get shown, it won’t get sold.

6. The House Isn’t in the Best Location

Unfortunately, you can’t do much about this. Real estate really is about location, location, location, and if the property isn’t in a good spot, it may take a while to sell. Make sure the sellers know that they may need to come down on the asking price in order to find a buyer.

7. The House is Poorly Planned

Once again, there’s not much you can do about a poor floor plan. However, sellers can incentivize prospective buyers by offering to pay for the home warranty or the services of an interior designer.

8. The House is in Need of Some TLC

If it’s obvious to the naked eye that the home needs some TLC, it won’t sell very quickly—if at all. Encourage sellers to give their property a facelift by doing small things like repainting certain rooms, making small repairs, replacing fixtures, and doing some landscaping. Buyers interested in fixer-uppers are few and far between these days, and two-income families want to spend the weekend relaxing, not repairing.

9. The House Smells Bad

This may seem like more of a cosmetic issue, but you’d be surprised how many potential buyers are turned off to a home because of a bad smell. Whether the sellers forget to take out the trash, have pets, or are smokers, they need to make sure their home smells spiffy when it comes time to show. Recommend that sellers get a professional cleaning done before any showings are scheduled, and, if necessary, to have carpet cleaning and furniture cleaning performed as well.

Experienced Realtor Bill Gassett recommends an ozone machine for those hard-to-get-rid-of odors. According to Bill, “An ozone generator will not only remove pet odors, but other troublesome odors caused by mold and mildew, fire, water damage and others.”

10. The House is Too Hot or Too Cold

Just like Goldilocks likes her porridge, buyers like seeing homes that are at just the right temperature. Selling in the summer? Turn on the air conditioning unit to a comfortable temperature. Selling in the winter? Pump up the heater so prospective buyers aren’t shivering during showings just waiting to escape to their warm car. Yes, sellers may need to spend a bit more on their electricity and/or gas bills, but if buyers aren’t comfortable in the home, they won’t take the time to see it.

Reasons-Your-Listing-Wont-Sell

Encountering problems that are keeping a listing on the market—especially if due to uncooperative clients—is one of the most exasperating things an agent can experience. If you find a home that’s not selling due to one of the aforementioned problems, try to work with your clients to remedy the situation as soon as possible. On the other hand, if the seller won’t budge on lowering the price or fixing up the home, it may be time to say goodbye and focus on more profitable uses of your time.

 

Have you experienced any other problems when selling a house? Please let us know in the comments below.

Find us on Google+

13 Types of Home Buyers to Avoid

By

As a Realtor, one may like to think s/he can work with anyone—or at least will make an effort to. However, some things are more easily said than done. In fact, there are a few types of buyers that you’d probably like to avoid altogether than try to do business with. Therefore, we’ve compiled a list of 13 types of home buyers to avoid and the early warning signs you may have a problem with a particular client. Hopefully you’ll be able to spot the signs early on and get out of the deal ASAP! After all, some hassles are just not worth your valuable time.

types of home buyers to avoid
Look out for these buyers!

1. The Flaky Buyer

Sellers spend a lot of time preparing their homes for showings, and flaky, inconsiderate buyers fail to realize this. Avoid buyers who make a habit of missing appointments without calling you ahead of time to explain their absence. Missed appointments could mean a missed opportunity for the perfect home.

2. The Whiny Buyer

This is the type of buyer that complains about the littlest of things. Whether it be the choice of paint color or style of the newly-installed carpet, this person will add small, easy, and cosmetic fixes to their laundry list of problems with the property.

3. The Realtor-Hopper Buyer

I couldn’t really come up with a snazzy name for this one, but this is the type of buyer that’s already worked with multiple agents. They give reasons why each Realtor didn’t work out for them, and may up telling a similar story to the agent they work with after you. Ultimately, this type of buyer will just end up wasting your time.

4. The Questionable Buyer

This buyer may not have all of his/her finances in order. If this buyer generates a shaky response from the bank—who reaches an agreement but with odd contingencies—the transaction probably isn’t a sure thing. After all, why are they house hunting if they’re not 100 percent financially capable of purchasing a home?

5. The Distrustful Buyer

The distrustful buyer isn’t quite sure about any part of the deal. S/he questions the seller’s choice of contractor, the home inspection, etc, and insists yet another expert come and give his or her own two cents. These inspections are often done at the seller’s expense—making the seller wary of doing business with your buyer client from the start.

6. The Know-It-All Buyer

This type of buyer isn’t quite sure you have his or her best interest at heart. They think they know better than you (it’s not like you do this for a living!) and will therefore insist on doing things their way instead of taking your expert advice.

7. The Sleep-Over Buyer

This is the buyer that insists on sleeping over in the property prior to closing the transaction. This can be an odd and uncomfortable request, especially if the sellers are still living in the home. Although you may be able to negotiate the buyer simply spend a few hours in the property at night instead of sleeping over, some buyers will simply not budge on this.

8. The Rude Buyer

This buyer doesn’t act like a guest in homes s/he’s viewing, treating the property as if it’s already his/hers with complete disregard for the people that are still living there. These are buyers that bring rowdy children to showings, flop down on the bed, leave the bathroom a mess, etc.

9. The Indecisive Buyer

This type of buyer can be one of the most frustrating of them all. From the number of bedrooms and bathrooms to the type of lot, this buyer may demonstrate that making concrete decisions is impossible for some. The indecisive buyer may require you to wear multiple hats during the home buying process.

10. The Multiple Visits Buyer

This buyer insists on seeing the home multiple times before closing, demanding immediate access after committing to the deal. This is the buyer who wants to bring friends, family members, decorators and architects in right away, before the transaction has even closed.

11. The Blamer Buyer

This buyer consistently denies responsibility, blaming you for anything that doesn’t go perfectly during the home buying process. If you do try to make it work with this type of buyer, make sure to outline what are considered realistic expectations for a real estate transaction.

12. The Rushed Buyer

The rushed buyer demands closing and moving dates. The buyer who rushes the closing date is usually oblivious to the emotional attachment the sellers may have to the house, not letting them move out and on when they’re ready.

13. The Negotiating Buyer

This buyer tries to negotiate after the deal is already closed. It’s imperative to remind these clients that the final walk through is not the time to renegotiate. Even if the market has changed, the agreed-upon price is the agreed-upon price. Period.

 

Working with these 12 types of buyers is far from ideal, but sometimes necessary. Therefore, be prepared: involve a contract during multiple steps of the real estate transaction and act as a mediator if necessary. Unfortunately, with some clients, you’ll just be happy that the deal is over and you’re finally free of them. It’s likely you won’t be getting any referrals from these clients, but at least you’ll be equipped with the experience of managing, and successfully closing a deal with, difficult clients.

 

Did we miss any types of home buyer to avoid? Please tell us about your less-than-desirable real estate buyer clients in the comments!

 

Find us on Google+

10 Profiles to Circle on Google+ for Real Estate Pros

By

We’ve talked before about how valuable Google+ is for real estate, but a huge part of getting started on any social media account is knowing who to follow. We’ve listed some of our favorite profiles you should circle on Google Plus so that you can start networking right away. Google+ is a great way to make connections in the industry and learn from other leading agents.

Note that this list is just the tip of the iceberg for the great content you can get from this social network. Many great profiles were already featured in our list of Twitter Accounts to Follow, so we thought we’d spread the love a bit for this round!

National Association of Realtors

The NATIONAL ASSOCIATION OF REALTORS®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

The official profile of the Realtor licensing board, this account keeps a steady flow of industry information to keep you in the know.

Lender 411

Connecting you to trusted pros.

This company is very active on Google+ and is eager to share content with everything you could need to know about the mortgage industry. It truly is the 4-1-1 on the industry.

Dustin W. Stout

Social Media, Creativity, Branding, and Design with just a dash of inspiration.

This professional blogger stays in the know on everything related to social media and SEO, but he’s particularly knowledgeable in how to leverage Google+. He is easily one of your best resources if you’re just getting started on the platform.

Barbara Bottitta

My Team and I take pride in providing our clients the very best in service, real estate expertise and Internet technology. Our experience and professionalism benefit you, our clients, with all your home purchasing and selling needs.

Barbara is an agent who always has the buyer in mind. She has a knack for finding helpful resources for all of your first timers.

Andrew Fortune

I enjoy discussions about real estate technology, SEO, website design, small business success, and raising a family as a business owner.

Andrew Fortune is really taking off on Google+ and one of the key authoritative voices in the realty industry. He’s a wiz at making infographics and developing original content. Anything he doesn’t write about himself, he’ll be sure to share with his legion of loyal followers.

circle on google

Lynn Pineda

Real Estate Promises Delivered.

You’ve seen her as a guest blogger for us before. For a consistent stream of her great, consumer-oriented content, Google+ is the best way to connect.

Bill Gassett

Top producing Realtor building lasting relationships through real estate.  

Another one of our favorite guest bloggers also happens to be an expert at all things social media!

Deborah Lamb

Naples FL Real Estate Full Services, as a buyer’s agent, listing agent, property manager, home watch services and subcontracting coordinator.

One of the nicest people you’ll come across in the networking circle that is Google+, Deborah is always eager to share industry insight just as much as she is to wish her followers a happy Friday!

HouseHunt + HouseHunt Agents

Change your business, change your life!

We strive to produce quality content ranging from breaking news to design tips to market reports, and everything in between. Our goal is to be your one stop shop for all things real estate when you’re online.

BONUS: A Few of Our Favorite Google+ Communities

Agent to Agent

Real Estate Agents Helping Real Estate Agents

This community group is designed to be a way for agents to share their most valuable resources with others in the industry.

Real Estate

The Official Google+ Real Estate Group

The best conversations about the field are likely to break out in this community group. Network with the brightest minds in real estate, all under the influence of moderator and guru Bill Gassett.

Community Real Estate

Together, We Stand Stronger

Perhaps the largest North American real estate community on Google+, this will prove a valuable tool for furthering your education on the ever-evolving housing market.

 

Which Google+ profiles did we miss? Who do you recommend we put in our circles?


Find us on Google+

Niche Market Series: Working with Senior Home Buyers

By

If you’re interested in making senior citizens your niche market in real estate, there are some things you need to know before promoting your specialty. Read on to learn what senior home buyers are looking for in a home and how to market to them.

working with senior home buyers

There are certain things you need to know if you plan on working with senior home buyers. For example, did you know that most seniors spend 40 to 50 percent of their income on their home? Here are the basics for building a senior niche market:

Loans

With the new Frank-Dodd mortgage loan provisions, it’s near impossible for retirees to qualify for a loan. This is because the new rules are based on the debt to income ratio, and if your clients are retired and have no current income, they may not qualify—even if they do have adequate savings. Even with social security, their income may not qualify them for much money in advance. However, if your clients are 62 or older, they can qualify for a reverse mortgage.

Taxes

There are tax deductions only homeowners can take advantage of, so make sure your clients are aware of these. Some of these perks include mortgage interest deductions, property tax deductions, and capital gains exclusion. In fact, if your clients are selling their home to move into a retirement community, they may not have to pay taxes on the sale provided they lived there for longer than five years.

Homes

Size

According to an infographic by Placester, 15 percent of homebuyers ages 67 to 87 say their primary reason for buying is that they want a smaller home. In fact, on average, homebuyers 67 and older reduced the size of their home by 200 square feet. Furthermore, 76 percent of buyers age 88 and up purchased a home that was 2,000 square feet or smaller.

Transportation

Suggest that your clients’ new home be located close to public transportation. Whether they become physically unable to drive or have their driver’s licenses revoked, accessible public transportation will become increasingly important with time.

Location

It’s very likely that your senior clients will be looking at homes located near family members. Although they may consider making a drastic change to celebrate retirement, remind them that many seniors end up making a second move to live near their families just a few years thereafter.

Additionally, ensure your clients see homes that are located relatively close to necessities like the grocery store, pharmacy, hospital, etc.

Amenities

When it comes to amenities, think accessibility. Remind your clients they may want to forgo homes with stairs and opt for single story floor plans instead. Also encourage them to keep an eye out for level driveways and stair-less entries. Other amenities to consider include non-slip tile floors, levered door handles, shelves in the bathtub, bathroom grab bars, and low cupboard space.

Negotiations

The stereotype that old people can be stubborn rings true when it comes to the purchase of real estate. According to Placester, 54 percent of buyers 67-87 made no compromise on the home they purchased. They can also be quite the low-ballers: senior buyers were the most likely of any age group to pay less than 90 percent of the asking price.

Marketing

When it comes to finding and targeting senior home buyers and sellers, go old-school. Focus on outbound, paper marketing and use flyers, brochures, or postcards to grab their attention. Most senior home buyers and sellers aren’t online, so this isn’t the best place to reach them. Instead, door-knock areas where senior citizens live and hand them your contact information.

Resources

There are many resources that can help you in your journey to make senior citizens your niche market. Check out SeniorsRealEstate.com, an official subsidiary of the National Association of Realtors. Here, you can learn how to become a designated Seniors Real Estate Specialist, or SRES®. They also offer customizable marketing materials, a professional bi-monthly printed newsletter, a monthly consumer newsletter, and monthly webinars.

Find us on Google+

Niche Market Series: Working with Senior Home Buyers

By

If you’re interested in making senior citizens your niche market in real estate, there are some things you need to know before promoting your specialty. Read on to learn what senior home buyers are looking for in a home and how to market to them.

working with senior home buyers

There are certain things you need to know if you plan on working with senior home buyers. For example, did you know that most seniors spend 40 to 50 percent of their income on their home? Here are the basics for building a senior niche market:

Loans

With the new Frank-Dodd mortgage loan provisions, it’s near impossible for retirees to qualify for a loan. This is because the new rules are based on the debt to income ratio, and if your clients are retired and have no current income, they may not qualify—even if they do have adequate savings. Even with social security, their income may not qualify them for much money in advance. However, if your clients are 62 or older, they can qualify for a reverse mortgage.

Taxes

There are tax deductions only homeowners can take advantage of, so make sure your clients are aware of these. Some of these perks include mortgage interest deductions, property tax deductions, and capital gains exclusion. In fact, if your clients are selling their home to move into a retirement community, they may not have to pay taxes on the sale provided they lived there for longer than five years.

Homes

Size

According to an infographic by Placester, 15 percent of homebuyers ages 67 to 87 say their primary reason for buying is that they want a smaller home. In fact, on average, homebuyers 67 and older reduced the size of their home by 200 square feet. Furthermore, 76 percent of buyers age 88 and up purchased a home that was 2,000 square feet or smaller.

Transportation

Suggest that your clients’ new home be located close to public transportation. Whether they become physically unable to drive or have their driver’s licenses revoked, accessible public transportation will become increasingly important with time.

Location

It’s very likely that your senior clients will be looking at homes located near family members. Although they may consider making a drastic change to celebrate retirement, remind them that many seniors end up making a second move to live near their families just a few years thereafter.

Additionally, ensure your clients see homes that are located relatively close to necessities like the grocery store, pharmacy, hospital, etc.

Amenities

When it comes to amenities, think accessibility. Remind your clients they may want to forgo homes with stairs and opt for single story floor plans instead. Also encourage them to keep an eye out for level driveways and stair-less entries. Other amenities to consider include non-slip tile floors, levered door handles, shelves in the bathtub, bathroom grab bars, and low cupboard space.

Negotiations

The stereotype that old people can be stubborn rings true when it comes to the purchase of real estate. According to Placester, 54 percent of buyers 67-87 made no compromise on the home they purchased. They can also be quite the low-ballers: senior buyers were the most likely of any age group to pay less than 90 percent of the asking price.

Marketing

When it comes to finding and targeting senior home buyers and sellers, go old-school. Focus on outbound, paper marketing and use flyers, brochures, or postcards to grab their attention. Most senior home buyers and sellers aren’t online, so this isn’t the best place to reach them. Instead, door-knock areas where senior citizens live and hand them your contact information.

Resources

There are many resources that can help you in your journey to make senior citizens your niche market. Check out SeniorsRealEstate.com, an official subsidiary of the National Association of Realtors. Here, you can learn how to become a designated Seniors Real Estate Specialist, or SRES®. They also offer customizable marketing materials, a professional bi-monthly printed newsletter, a monthly consumer newsletter, and monthly webinars.

Find us on Google+

How to Budget Commission [Infographic]

By

This is our continued look at real estate agents’ commission paychecks. In the first part, we broke down exactly how a Realtor gets paid. You can see that infographic by clicking here.

In this part we will look at agent expenses and a suggested plan to help you budget commission paychecks.

How-Should-Realtors-Budget-Commission

Agent Expenses

The biggest expense for agents is their vehicle costs. This takes about 40% of their expense budget. They also need to worry about NAR membership and MLS fees to stay in business. Overhead expenses include office space and insurance. Marketing will be a constant bill if you want to grow your business, and technology will be necessary just to stay relevant. Many agents set aside a certain amount to continue their education in this ever-evolving industry.

Although not necessarily a business expense, you also need to factor in income taxes, since your taxes are not taken out by the government with each paycheck. This bill is usually 15-20% of your annual income. Hooray!

Suggested Budget

First, set aside 15-20% for income taxes. For a more exact figure of what to expect, simply refer to previous tax statements.

You’ll want to set aside 12% toward agent expenses, like those listed above. This portion will get distributed differently month-to-month, but expect marketing expenses to be the most recurring.

10% of each paycheck should go straight into retirement. This looks like a high-yield savings account that you can’t touch.

You should have another savings account that you use as a goal oriented fund. This can also serve as an emergency fund in times of… well… emergency. This will merit about 8% of each paycheck.

And finally, you can live off the remaining 55%. This portion pays your bills and day to day expenses.

Miscellaneous Tips

Remember that many agent expenses are tax deductible. Client lunches, car care costs, your home office, and more can all save you money down the road.

Diversify your investments. We all love real estate, but that shouldn’t be your only form of savings. Have a Roth IRA, stocks, and so on.

Avoid debt at all costs. Debt is never a good thing, but commission based salaries make debt an even more dangerous spot.

This is just a suggested budget from HouseHunt, but we recognize case-by-case needs and encourage flexibility with all agent related finances. 


Find us on Google+

Working Holidays as a Realtor

By Lolly Spindler

working holidays as a realtor

How many Realtors had to work this past Fourth of July? Given your profession, it’s safe to assume that many Realtors had to tend to at least some business on the most patriotic of holidays. Although not officially in the job description (if there even is one), working holidays is part of being a Realtor; and although the cons are obvious—not getting a day off, missing out on family events—working holidays as a Realtor does have its pros.

But Why???

First, let’s take a look at exactly why Realtors have to work on holidays and weekends. Buyers want to see houses when they’re not at work. In other words, they can only see homes when they’re off work: meaning evenings, weekends and holidays. Furthermore, when do sellers expect to host an open house? The open house will most likely be on a weekend: on a Saturday, Sunday, and maybe even both (not including the broker preview).

The Pros

Now let’s take a look at why working holidays as a Realtor can be beneficial:

  1. People looking at homes during the holidays are serious buyers.
  2. January is the biggest transfer month, so those getting transferred house hunt during the end of the calendar year (aka the holidays).
  3. There are fewer homes on the market during the holiday season (typically November through early January), meaning less competition and more money for the sellers (and the Realtor)!
  4. Homes show well when they’re decorated for the holidays, whatever holiday it may be!
  5. Some people have to buy before the end of the calendar year for tax purposes.
  6. Showings are fewer and less intrusive but more likely to be successful due to the buyers’ level of motivation.
  7. If need be, you can still have a house on the market but restrict or delay showings for a few days while your clients celebrate the holiday(s).
  8. Investors normally want to close escrow by the end of the calendar year for tax purposes.
  9. Sellers have an advantage, as there will be more homes on the market and these houses will be selling for less come the following months (less demand=less money).
  10. Lenders aren’t as busy during the holiday season and can process loans faster.
  11. Sellers can sell during the end of the calendar year for more money and delay closing so as to extend occupancy until the beginning of the following year.
  12. Buyers will have more time to look at houses and can go to showings during weekdays.
  13. Services, including appliance installation and remodeling work, are more available and at less of a premium during the holiday season.
  14. Buyers tend to be more emotional and spend more money—meaning the seller will most likely get an offer at or above asking price.

Realtor Experience and Advice

Will Webber is an agent with Keller Williams in Delaware and incredibly familiar with working holidays as a Realtor. On his blog, he writes:

I expect with my 600-plus transactions over the course of 25 years, I have sold homes on every day of the year. I collected final signatures for a transaction on Mother’s Day. I sold two homes during one single Thanksgiving weekend. One year I was showing homes on Christmas Eve and we closed the deal on Christmas day. I sold two homes by noon on Easter Sunday. I have an open house scheduled for Labor Day Sunday, and I am working on Monday because most people are off.

In an article for Realtor.com, Linda Kemp, a Realtor in Illinois, states:

“It’s my experience, both personal and professional, that buyers who are looking at homes during this time of year are serious buyers indeed,” she said. “I have watched homes sell right before Christmas. In fact, a few years back, one of my clients sold their home on New Year’s Eve with the buyers signing a contract right there on the spot.”

In this same post, Los Angeles Realtor Lee Dworshak continues:

“Experience tells us that only the truly motivated home buyers and sellers are the ones who will be out there over the holiday season. While most folks close their doors just before Thanksgiving and don’t open them again until mid January, the folks that are willing to give of their time and perform the due diligence required during this period are really serious about buying or selling.”

Conclusion

If you do find yourself working holidays as a Realtor, make sure you’re not wasting your time. Ensure that the buyers you’re taking around to showings have been pre-approved and that sellers are willing to cooperate with showing times. Taking the holidays off may sound tempting, but it could lose you a grip of money in commission. Therefore, always consider the pros and cons of every transaction that may coincide with a holiday thoroughly before coming to a conclusion.

 

Find us on Google+

How Does a Realtor Get Paid? [Infographic]

By

It’s not always easy for a real estate agent to make money. Being (largely) self-employed and working off commission can make for a tricky salary. So where exactly does the check come from? With whom does a commission check get split? How does a Realtor get paid?  Here is an in-depth look at real estate agents’ commission paychecks.

Realtor-Commission

 

The median Realtor salary is $47,700, according to the National Association of Realtors. For starting agents, it is even lower, at $27,470. Average commission from total sales price is between 5-6%. Half of that goes to the selling agent and broker, and half goes to the selling agent and broker. The agent himself or herself takes 40-80% of that split, based on their agreed upon split.

If a home costs $300,000, the average agent would make $6,300 before taxes and other expenses. The average Realtor must sell 7.6 houses per year at $300,000 per unit just to earn the industry mean salary.


Find us on Google+