Tuesday, May 19, 2015

Get More Listings - Tip #10 - FSBO's Are Your Friends

Expired Listings and For Sale by Owners are your friends - Go meet them!
Expired Listings: Regardless of which MLS you’re in, approximately 5-8% of the active listings go “expired” each month. Between April 1st - 23rd, 74 residential properties showed up “expired” in the Fresno MLS. That’s at least 20-25 per week! If you want listings, talk to these “expireds”. They want to hear from you!
Here are the facts:
·        They have announced that they want to sell.
·        They believe in using a Realtor.
·        They will pay a commission!
·        They are likely to be more realistic with their price.
·        They don’t believe enough in their previous agent to extend the listing.
·        Also prospect expireds from 6 months back or longer; our appreciation in values will help them get closer to their asking price.
·        They need help.
·        They need you!
For Sale by Owner
Here are some easy action steps to turn FSBOS into listings:
·        Call to ask if you can preview their home.
·        Get there and make a friend.
·        Find out what their motivation is to sell and find a way to help.
·        Ask if they would be willing to pay a commission if you were to have a buyer for them.
·        Offer to provide them more accurate comparable sales information than the Zillow Zestimate they likely used.
·        Put them on a mailing program for the next several weeks.

Here’s what you can send:

1.      A business card and info on a great escrow officer to help with their sale. (Make sure the escrow officer knows you’re doing this - they’ll sing your praises.)
2.      Send a Royal Charter Mortgage brochure and loan officer card.
o   Encourage them to have their perspective buyer get pre-qualified by a reputable lender. (Illustrate that this is just one of dozens of things that you do on behalf of your sellers to provide a surety of close- flakey buyers with flakey lenders cancel deals!)
3.      Offer a contact for a Home Warranty Company to get  seller coverage now, or to provide the buyer with a policy if asked.
4.      Offer a pest company referral and direct them to the “Home Services” page on the London website for other vendors, especially California Property Data to obtain a mandatory NHD report.
5.      Keep them current on other listing and sales activity in the area. Be their resource!
6.      Send them any of our free London Brochures like: “How To Save On Real Estate Commission” or “Would You Buy A House From You?”
Make a friend, demonstrate your professionalism and offer to help.
Good Luck!

Get More Listings Tip #9 - Expose Yourself

Expose Yourself!
That’s right, one of your most important jobs is to let people know, and remind all those you assume remember, that you are in real estate!
The Spring and Summer selling season is in full swing. Perspective clients know that the market is hot, but are you getting out spreading the message?
Here are some reminders:
·        Wear your name tag or London logo shirt when you’re out; from social events to grocery or home improvement stores, your child’s school events.
·        Car wraps and car signs -- marketing on the move.
·        Own your “Farm” area.
·        Stay Active- Attend and Sponsor as many sporting events, games, fundraisers, tournaments, home shows, neighborhood and community events as you can.
·        Get active with a charity, community effort, church, clubs, or network.
Be a go giver!
·        Put your photo on the London Annual Housing Report and take copies to the waiting areas of your doctors, dentists, or veterinarians office, your barber shop, salon, or other places of business.
·        Consider heading up a neighborhood watch program in your neighborhood (see the London website for helpful details to organize).
·        Organize a neighborhood/block garage sale or BBQ in your own area. Or help your client who just bought a new home, set one up on their new block.
·        Leave business cards or personalized pens with your server when dining out.
·        Smile more!

Good Luck,

Get More Listings #8 - Use your London Properties Flyers

You have great brochures at your fingertips to prospect for listings, and they’re FREE!
In every office we have brochure racks with over a dozen different hand-outs like:
 “Selling tips”
“Why London”
“Have a Great Garage Sale”
“Would You Buy a House From You?”
“Get the Site”
 And of course, “It’s Your Choice.”

Although you can spend a few dollars to have marketing customize any of these with your photo on them the two that are probably the best for doing this are “Get the Site” and “It’s Your Choice”.
The “Get the Site” brochure makes for an excellent hand-out at open houses to let perspective sellers know that with your mobile site, you can do more to attract buyers for their property than other associates. If they’re not sellers yet, but just buyers, you’re equipping them with the easiest tool to get complete information on every broker listing 24/7.

“It’s Your Choice” illustrates our seven different listing programs which will raise the interest of every seller, especially those with an expired listing or FSBO’s. You have what other brokers don’t – Lets take advantage of this and give sellers what they want.

Good Luck,


Get More Listings #7 - Rental Property Sales

There is plenty of opportunity in working with first time home buyers and investors (of single family 1-4 units) right at your fingertips Here’s the tip: Send mailings to the owners of rented properties and double your exposure by also mailing to the tenants.  For example, I just did the following search with Reliance Marketing:
·        The # of properties within ¼ mile of 6442 N. Maroa yielded approx. 1,850 properties.
·        Reliance then narrowed it down to residential only = 1,100 properties.
·        Of the 1,100 properties, 285 show owner’s addresses as different from the physical property address.
·        This also means that there are 285 renters in those properties that 20150521  For an owner, now is a great time to let them know that the average sales price in the Fresno/Clovis market has increased approximately 28% from just two years ago. With values up, now might be the perfect time to cash in on their equity gain. Conversely, the tenants of these properties could receive your mailing that lets them know that with “low interest rates, now might be the perfect time to lock in a 30 year mortgage payment. Why be vulnerable to increasing rental rates?”
I’ll be sharing a little more on this at Wednesday’s sales meeting.
Good Luck!

Get More Listing Tips #6 - Go Preview

As a kid, if a teacher, coach, or parent showed you the best way of doing something, didn’t it pay to follow their advice? Regardless of our age, we can always learn to do things better, but the opportunities, always lay "in the doing." Here’s something to do; if you want to know the market the best, and increase your ability to get more listings, go preview.
  • Previewing is the only way to really know a neighborhood and our market.
  • On average, homes sell every 7 years – previewing a listing today might be the only chance you ever have to see this home.
  • Previewing gives you the biggest advantage over Zillow, Trulia, and other standardized evaluation sites.
  • Previewing gives you firsthand knowledge and knowledge gives you confidence – confidence to better handle a floor-call, answer client questions, motivate a buyer and impress a seller.
  • Preview new listings and listings that have been on the market 3, 4, and 5 months. Chances are that those listings might expire soon and re-list with you.
  • Murphy’s Law; if you preview this or that house today, chances are you’ll pick up a buyer in the next week or two and can go show it again.
  • Always leave your business card – better yet, use the FREE, London Properties "Thank you for allowing me to view your home cards!"
  • Being out and visible leads to listings.
  • Preview quickly (alone or with peers). See how quickly you can view the homes. You don’t need more than 3 minutes! Remember, you’re not there for decorating ideas.
  • Preview all the comparable homes in the neighborhood of your upcoming open house.
  • Previewing will give you the upper hand when dealing with any appraiser.
If you have nothing to do today, don’t do it here; go preview!

Good luck, 

Patrick Conner

Get More Listings Tip #5 - Annual CMA & Insurance Review

Take the annual CMA one step further
We always talk about sending your clients an updated CMA for the property that they purchased with you last year or several years ago, but take this a step further…
At Port Royal Insurance, we provide customers with an annual review of their policies and to see if we can save them money or if coverage changes are needed.  Our clients love this.
So what if you set up an “annual review” with your past buyers?
Especially if they own more than one home, offer them the opportunity to assess all of their real estate holdings.  This will give them a great idea of current values and might even peak their interest to take advantage of recent price appreciation and sell.
A Colorado agent who has implemented follow-up reviews reported that “In 2014, 43% of their face-to-face reviews with clients led to a new listing, sale, or referral”.
I can’t think of a better way to keep your name fresh in their minds and to show your clients that you care – That you really are their realtor for life!

Good Luck,

Patrick Conner

Get More Listings Tip #4 - Write that Post Card

Mail That Letter or Post Card
It works every time. From Larissa in Merced, to Cheryl and Paula in Fresno, and Drew in Hanford, if you want listings in a particular area, mail to that area! Let to-be-sellers know that inventory is down and homes in their area are desirable.
Consider the following:
·        Personalize a letter that says, “My clients, Jim and Nancy, are wanting to live in your neighborhood, but have unfortunately not been able to find the right home. Inventory is low and prices are up. If you have any interest in taking advantage of our current market and selling, please call me, I’d love to help.”
·        If you don’t have a specific buyer for an area, but want listings, just use appropriate market information.
o   Know the stats for that area. Most areas saw an increase in inventory during the last half of 2014. YTD in 2015, inventory is back down. Put the specific stats for an area on a postcard and entice to-be-sellers to take advantage of a hot market.
·        There are sellers out there who want to sell; it’s your job to reach them!
·        For more on this, look for today’s video that will be emailed to you this afternoon!
Good Luck,
Patrick Conner

Get More Listing Tip #3 - Do Open Houses

Do Open Houses!

This is no secret, but let it be our reminder; Open Houses have always been and will always be a great source for listings. Check out our inventory and schedule at least one this weekend. Remember:
  • Be yourself. Send out the vibration that you love what you do and that you’re there to help.
  • You’re there to make friends first, help second, and to follow up if that’s what they want.
  • If you have to knock on 50 doors, just to get 4 people to answer, why not hold an Open House and have 8-20 people come see you? Think about it, how much more efficient is it to have 3 times the people come to your door and knock for permission to meet you.
  • Do knock the neighbors’ doors to introduce yourself – let them know you’re hosting – if no one is home, leave a note.
  • Have some market information that is of value; how many homes have sold in that area in the last 90 days and for how much. The Annual Housing Report also offers some great information.
  • This material will impress perspective sellers. Preview all other properties in the area. Be the expert!
  • Get your signs (and plenty of them) out early.
  • Get a Big open house flag from your LP Store – Show to the sellers that you go the extra mile!
  • Use your new FREE Open House Flyer program to create great looking property flyers.
  • The list goes on…..!
Good Luck!
Patrick Conner

Get More Listings Tip #2 - Build a Warm Leads List

Build hot and warm lists

Our hot lists are made up of clients who are looking to buy, sell, or both within the next 90 days. Their time is now! Warm lists are made up of these who likely buy or sell in the next year, but they just don’t know it yet. They are people who have changes going on in their lives, which you are observing from a housing perspective more so than they are. Their life changes might include; growing kids moving to a new school, kids leaving for college, in-laws needing to move-in, marriage, or unfortunately even divorce.
  • With our hot list, we need to be sharing our clients’ needs with each other on a consistent basis. For example, Laura Mather may have a million-dollar home buyer for an area, but noting on the market excites them. By sharing this need, Paula, Joe, or Sheila might think of a "warm list" client who would consider selling. This also works with sellers who would sell if you brought them a buyer.
  • Share the needs and wants from your "hot list" with your London Family, remember, you will create deals that otherwise would not come together.
  • Stay mindful of the life changes of those in your sphere/database. Beat them to the punch by solving their needs before they recognize them.
  • There are deals all around us, we just need to look, listen, and share!
Good luck!


Friday, April 10, 2015

Industry predicts strong year for local real estate

Source: The Business Journal
Written by George Lurie

  The spotlight shone brightly on the Valley’s real estate market Thursday night at the Fresno County Economic Development Corporation’s 12th Annual Real Estate Forecast event. From multi-family, residential and retail to industrial, commercial, ag and investment, a procession of local experts provided snapshots of current market conditions — and their best crystal ball readings of where the market is headed. The event, which drew about 400 people to the Fresno Convention Center, kicked off with a moving, 20-minute tribute to Charles Tingey, founder of Colliers International and also a founding member of the Fresno County EDC. A pivotal and charasmatic figure for many years in Valley real estate, Tingey died several months ago at the age of 74. Bobby Fena, one of the principals at Colliers and a long time associate of Tingey’s, said, “Chuck was a mentor to all. He was a delight to be around and made a lot of people successful in this industry.” John Brelsford, Tingey’s former partner, said, “Chuck was like a magnet. He could draw people in from all areas of life.” Following the tribute to Tingey, Lee Ann Eager, EDC president and CEO, turned the mic over to Matt Renney and Doug Cords, who served as emcees for the evening. The first expert to take the podium was Robin Kane of Hendricks-Berkadia, introduced as “the maestro of multi-family.” Kane said that in 2014, multi-family sales in the Fresno-Clovis area “almost doubled” those of 2013. Citing a “perfect storm” that includes historically low interest rates and continued growth in so-called “urban centers,” Kane predicted another strong year for the sector in 2015. With home ownership rates for Californians at their lowest levels since 1990 — just above 50 percent — Kane said recent rent increases “have been eating away” at renters’ available equity to purchase a home. Predicting that the apartment industry “will continue to benefit from a dysfunctional housing market,” he also said that stagnant wages and “difficulty arranging financing today” continue to be factors keeping more Valley residents renting rather than owning. At the same time, he added, multi-family construction across the country “has just gone nuts.” He predicted “2015 will be another record-setting year” for the sector. Kane’s short presentation was followed by upbeat speeches by Colleen Wiginton of the Fresno Association of REALTORS, Ethan H. Smith and Brett Visintainer from Newmark Grubb Pearson Commercial, Brett Todd of Colliers International, Stanley Kjar from Pearson Realty and Peter Orlando from Retail California. Keeping with the evening’s “Rock and Roll” theme, all of the evening’s speakers confirmed that real estate fundamentals in the Fresno area continue to improve. “Two years ago, distressed sales represented 50 percent of the market activity,” said Wiginton. “Today, that number is down to just 17 percent. And it continues to fall.” “We’ve officially hit the reset button,” she added. “Compared to other parts of the state, Fresno is still a very affordable place to live.” Wiginton said first-time homebuyers currently comprise 41 percent of the local market and the pace of new home construction in the area should average about 1,800 single-family homes per year for the next decade. “All of the fundamentals are in place for a healthy 2015,” she added. Smith characterized Fresno’s industrial real estate sector as “pretty tight,” with current commercial vacancy rates hovering around 6.7 percent. He said new incentives from Fresno County as well as the cities of Fresno, Clovis, Sanger and Kingsburg would spur additional construction of industrial buildings in those areas. Smith’s prediction for 2015: Vacancy rates will continue to drop. Land prices will rise. And construction of the high-speed rail line will “create uncertainty and opportunity” in the market. Ag broker Kjar began his presentation by noting that farm real estate values hit an all-time high in 2014. “Commodity prices drive the price of farmland,” Kjar said, “and right now, almonds are leading the charge.” Predicting both the drought and a strong dollar could put a damper on growth in 2015, Kjar added, “Farm properties in areas with better water conditions will still be in demand.” Todd said he expects commercial construction to “ramp up” late in 2015 and early 2016. “We are bullish and expect the market to continue to flourish,” he added. Echoing those sentiments, Visintainer said, “more demand than supply” and “prolonged low interest rates” would continue to provide real estate investors with positive returns. “This could be one of the strongest years ever,” he added. The final speaker of the night, Peter Orlando, said the area would only see the opening of two major new shopping centers in 2015 — Campus Pointe near Fresno State and Park Crossing in north Fresno. He said the shopping center industry was “poised for growth” going forward and noted technology was playing an increasingly more important role in retailers’ courtship of consumers. “The success of online retail has forced developers to create higher-quality shopping environments” in order to compete, he said, adding that outside-oriented environments were beginning to replace traditional, enclosed malls. Orlando also predicted “social networks will serve more and more as shopping networks” and that Hispanics and millennials will “continue to heavily influence” retail shopping trends.

 URL to the original article: http://www.thebusinessjournal.com/news/real-estate/17128-industry-predicts-strong-year-for-local-real-estate 

For further information on Fresno Real Estate check: http://www.londonproperties.com