Essential Information for Working with Clients
Essential Information for Working with Clients
The Jarbly Group at Trend Realty offers a comprehensive training platform designed to help realtors navigate the common challenges in the industry. Our powerful training resources equip agents with the knowledge and skills needed to succeed in real estate. Explore the valuable tools below!
Check out these powerful mini guides to elevate your real estate career!
5 Steps for a Successful Home Showing
5 Steps for a Successful Open House
Promote and Market in Advance:
- Advertise the open house across multiple platforms: MLS, social media, real estate websites, email newsletters, and local listings.
- Use eye-catching flyers, postcards, and online ads with high-quality photos of the property. Make sure the date, time, and details are clear.
Prepare the Home for Viewing:
- Clean, declutter, and stage the home to make it look inviting. Ensure all lights are on, curtains are opened, and the temperature is comfortable.
- Highlight the home’s best features with simple touches like fresh flowers, a pleasant scent, and music in the background (if appropriate).
Greet and Engage Visitors:
- Welcome each attendee warmly and introduce yourself. Provide a sign-in sheet for contact details and to track visitors.
- Ask open-ended questions to learn about their needs and what they’re looking for. This will help tailor your approach and highlight relevant features.
Provide Property Information:
- Have printed property brochures with key details such as square footage, price, features, and recent updates.
- Be prepared to answer questions about the home, the neighborhood, schools, local amenities, and the overall market.
Follow Up After the Event:
- Send a thank-you email or message to everyone who attended, offering additional information or answering any questions.
- For interested buyers, offer a second showing, discuss offers, or provide more specific details about the home. Timely follow-up is key to maintaining interest and moving the process forward.
Here’s a guide on how to properly draft a listing for a property:
1. Start with an Attention-Grabbing Title
- Include Key Selling Points: The title should immediately grab the attention of potential buyers or renters by highlighting the most appealing features of the property.
- Example: “Stunning 3-Bedroom Home with Pool and Ocean Views” or “Charming 2-Bedroom Condo in Prime Downtown Location”
2. Provide a Clear Property Description
- Property Type: Clearly state whether the property is a single-family home, condo, townhouse, or multi-family unit.
- Key Features: Include the most important features and upgrades, such as the number of bedrooms and bathrooms, square footage, unique design elements, and any special amenities (e.g., pool, garage, backyard, modern kitchen).
- Neighborhood and Location: Highlight the location, including nearby schools, parks, shopping, transportation, or any notable attractions that would make the area desirable.
- Tone: The tone should be descriptive yet concise, using language that appeals to emotions while providing factual details. Aim to create a visual picture of the property for prospective buyers.
Example: “This beautiful 3-bedroom, 2-bathroom home is located in a highly sought-after neighborhood and features an open floor plan, hardwood floors throughout, and a spacious backyard perfect for entertaining. The updated kitchen includes stainless steel appliances and granite countertops. Enjoy breathtaking ocean views from the master suite, complete with a private balcony.”
3. Highlight the Property’s Key Features and Amenities
- Size: Include the property’s square footage, number of bedrooms, bathrooms, and lot size.
- Renovations and Upgrades: Mention any recent renovations or upgrades, such as new appliances, energy-efficient windows, or remodeled bathrooms. These could be selling points that add value to the property.
- Outdoor Space: If applicable, highlight outdoor features like a pool, deck, balcony, garden, or any other aspects that may attract buyers.
- Parking and Storage: Don’t forget to mention parking options (garage, carport, off-street parking) and storage (basement, attic, walk-in closets).
4. Include High-Quality Photos and Virtual Tours
- First Impressions Matter: Professional, high-quality photos are crucial to a listing. Make sure to include a variety of angles and show the property in the best light.
- Wide-Angle Shots: Use wide-angle lenses for interior photos to capture as much space as possible. Make sure rooms are clean, tidy, and well-lit.
- Outdoor Shots: Show the exterior of the property and surrounding landscape to give potential buyers a sense of the full environment.
- Video or Virtual Tour: Including a virtual tour or video walkthrough gives potential buyers a more immersive experience. This is especially important for long-distance buyers or during times when in-person showings are limited.
5. List Property Details and Specifications
- Price: Clearly state the asking price or rent amount. Make sure the price reflects the market value based on comparative properties.
- Square Footage: Include both the interior and exterior square footage. For multi-family or larger homes, include the size of each unit.
- Year Built: Mention the year the property was built, especially if it has historical significance or was recently renovated.
- Additional Details: List any HOA fees, utilities included in the rent (for rentals), or any other relevant property-specific details.
6. Provide Important Property and Legal Disclosures
- Disclosures: Be upfront about any known issues with the property, such as necessary repairs, or any legal matters like zoning issues. This builds trust and avoids any misunderstandings later in the process.
- Energy and Environmental Information: If relevant, include information on energy-saving features (solar panels, energy-efficient appliances), water usage, or environmental concerns.
7. Create a Call to Action
- Encourage Engagement: End the listing with a clear and direct call to action, such as:
- “Contact me today to schedule a showing!”
- “Call now to book your private tour and see all that this home has to offer.”
- Make it easy for interested buyers to get in touch by providing clear contact details and methods (phone, email, online form).
8. Mention Financing Options or Incentives (if applicable)
- Financing Information: If there are special financing options available, such as FHA loans or first-time homebuyer programs, mention these in the listing.
- Incentives: If the seller is offering closing cost assistance or other incentives, make sure to include this information to entice potential buyers.
Example Listing:
Title: “Spacious 3-Bedroom Family Home with Backyard Oasis and Modern Upgrades”
Description: This stunning 3-bedroom, 2-bathroom home located in the heart of [Neighborhood Name] is perfect for growing families. Recently renovated with hardwood floors throughout, the home features an open-concept living and dining area, perfect for entertaining. The updated kitchen boasts stainless steel appliances, granite countertops, and ample storage space. The master suite includes a private balcony with breathtaking views of the backyard oasis, complete with a large pool and landscaped garden.
Enjoy the convenience of being minutes away from top-rated schools, shopping, and parks. This home is priced to sell quickly, so don’t miss out!
Key Features:
- 3 Bedrooms, 2 Bathrooms
- 1,800 Sq. Ft. Living Space
- 7,000 Sq. Ft. Lot
- 2-Car Garage and Additional Off-Street Parking
- Pool, Deck, and Outdoor Kitchen
- Recently Renovated Kitchen and Bathrooms
Price: $550,000
Call to Action: Contact us today to schedule a private showing or inquire about financing options. Don’t wait – this home won’t last long!
Here's a guide to help you determine how much to allocate for high-quality visuals:
1. Understand the Types of Services You Need
- Photography: High-quality photos are essential for any listing. A photographer will typically provide wide-angle shots of the property’s interior and exterior, focusing on key selling points.
- Video: A video can showcase the home in a more dynamic way and attract more interest, especially for luxury or unique properties. It can include a walkthrough of the home, drone shots, or a “lifestyle video” that showcases the home’s features in a narrative style.
- 3D Tours: For certain properties, especially larger homes, 3D tours (like Matterport) provide a more immersive experience and allow potential buyers to explore the property remotely.
- Drone Shots: Aerial shots are particularly valuable for properties with large outdoor spaces, stunning views, or unique features that are best seen from above.
2. Factor in the Property Type and Location
- Standard Homes (Under $500k): For typical single-family homes, you can expect to pay anywhere from $150 – $350 for professional photography.
- Mid-Range Homes ($500k – $1M): For properties in this price range, pricing can vary between $350 – $600 depending on the photographer’s experience and the number of photos.
- Luxury Homes ($1M and Above): Luxury homes require high-end photography, often including more advanced shots such as twilight photos, aerial views, and extensive editing. Expect to spend $500 – $1,500+.
- Condos and Small Properties: Smaller properties or condos usually cost less to photograph, generally between $150 – $250.
- Geography: Location plays a big role. Urban areas and cities with higher demand may have higher rates than suburban or rural areas.
3. Photography Costs Breakdown
- Standard Photo Package: Usually includes 20-30 edited images of the property (both interior and exterior). This may include standard editing and staging if necessary.
- Twilight Photos: These are more artistic shots taken at dusk, often costing an additional $100 – $300 depending on the photographer.
- Drone Shots: Expect to pay $150 – $300 for aerial shots if they’re not included in the standard package.
- Virtual Staging: If the home is empty and needs digital staging to show its potential, it can cost around $50 – $150 per image depending on the service.
4. Video Production
- Standard Walkthrough Video: A professional video tour can range from $300 – $1,000, depending on the quality and length. These videos are typically 2-5 minutes long and offer a basic walkthrough of the home.
- Luxury Video/Creative Video: More sophisticated videos, such as drone footage, lifestyle videos, or cinematic storytelling, can cost $1,000 – $5,000 or more. These videos may include more extensive filming, editing, voiceovers, and creative effects.
- Aerial Drone Video: Drone footage alone can range from $200 – $500 for a short video and may be added to a standard video package.
5. Additional Services
- 3D Tours (Matterport): These immersive 3D tours can range from $150 – $500, depending on the size of the property and the provider.
- Photo Editing: Sometimes, if you want more advanced photo editing or retouching (e.g., sky replacement, lighting adjustments), there could be an additional $50 – $100 per image.
- Virtual Tours: These may cost $100 – $300 as an add-on to photography services.
6. Budgeting Guidelines
- Basic Listings (Under $500k): Spend around $150 – $350 for professional photos. Video may not be necessary unless the property has unique features, but if desired, expect to spend $300 – $500.
- Mid-Range Listings ($500k – $1M): Spend $350 – $600 for high-quality photos and $500 – $1,000 for a video tour, depending on the complexity.
- Luxury Listings ($1M and Above): Invest $500 – $1,500 or more for top-tier photography, and allocate $1,000 – $5,000 for a cinematic video production, including drone shots and luxury features.
- Add-Ons: Don’t forget to budget for any extra services such as 3D tours, drone footage, or virtual staging.
7. Weighing ROI
- Increased Buyer Engagement: Properties with professional photos and videos attract more online attention, leading to faster sales at higher prices.
- Long-Term Value: Even if you spend more on visuals, these marketing assets can be used across multiple listings or platforms, enhancing your overall brand reputation and leading to higher commissions in the long run.
Conclusion
The amount you spend on photography and videos for real estate listings should reflect the price and type of property, your target audience, and your marketing strategy. Investing in high-quality visuals is essential to attracting potential buyers and can lead to quicker and more profitable sales. For typical properties, a few hundred dollars for photography should suffice, while higher-end listings may require a more significant investment in video production and drone shots. Always ensure that the quality of visuals aligns with the value of the property and your overall sales goals.
5 Steps When Representing the Seller: How to Properly Handle an Offer
1. Review the Offer Thoroughly
- Price: The most obvious element, but not the only one. Evaluate whether the offer meets your seller’s expectations. Look beyond the purchase price—ensure other aspects like closing date, contingencies, and earnest money also align with your seller’s needs.
- Contingencies: Pay attention to contingencies such as financing, inspections, or appraisals. If the buyer has many contingencies, this can delay or even jeopardize the deal. Consider negotiating to eliminate or shorten these contingencies to make the offer more secure for your seller.
- Expiration Date: Offers often come with an expiration date. Make sure this aligns with your seller’s timeline—if it’s too short, request an extension, especially if the seller needs more time to review or respond.
2. Negotiate Terms Beyond the Price
- Earnest Money: A higher earnest money deposit can demonstrate buyer seriousness. If the earnest money isn’t sufficient, you can negotiate for a higher deposit to provide the seller with added security.
- Closing Date: This is often an area for negotiation. If the buyer’s proposed closing date doesn’t suit your seller’s plans, this can be adjusted. If the seller needs more time to move out or find a new home, you can push for a later closing. Conversely, if the seller is looking to close quickly, you can ask the buyer to expedite the process.
- Rent-Back or Post-Closing Occupancy: If the buyer has flexibility, a rent-back or post-closing occupancy arrangement can allow the seller to stay in the property after closing while they make their next move. This can make the deal more attractive if the seller needs more time.
- Seller Contributions: Sometimes buyers request the seller to contribute to closing costs or repairs. You can negotiate this—either to eliminate or reduce such requests, depending on the market. If the buyer is offering an attractive price but asking for closing cost help, consider if this is worth accepting.
3. Address Buyer’s Due Diligence Requests
- Repairs or Credit: After an inspection, buyers may request repairs or a price reduction. As a seller’s agent, evaluate whether the request is reasonable or excessive. Counteroffers can involve offering credits instead of repairs, or negotiating which repairs are non-negotiable and which could be replaced with a financial concession.
- Timeframes: Ensure the buyer’s inspection period is reasonable. If the buyer is asking for an extended inspection period, negotiate a shorter timeframe to keep the deal on track and prevent delays.
- Inspection Waivers: In competitive markets, some buyers may offer to waive certain inspections (like the inspection contingency) to make their offer more appealing. If your seller is confident about the property’s condition, this may be an area you can negotiate to eliminate contingencies.
4. Evaluate the Financing and Appraisal Contingencies
- Strength of the Buyer’s Financing: Assess the buyer’s financing terms and pre-approval letter carefully. If there’s any indication the buyer’s financing is less than strong (e.g., a pre-qualification instead of pre-approval), you can ask for a stronger commitment from the buyer or a larger deposit to reduce the risk of the deal falling through.
- Appraisal Contingency: If the buyer has an appraisal contingency, they may back out or request a lower price if the property doesn’t appraise at or above the purchase price. In a strong market, you may be able to negotiate to eliminate this contingency or ask for a higher deposit to ensure the buyer remains committed.
- Loan Type and Terms: If the buyer is using a government-backed loan (FHA, VA) or a conventional loan, understand how this could affect the property condition, timelines, and appraisal. You can guide the seller in negotiating terms that align with the loan type.
5. Stay Flexible and Communicate Regularly
- Open Communication with the Buyer’s Agent: Keep the lines of communication open with the buyer’s agent throughout the process. If the buyer is hesitant to move forward on a particular term, you can work to find common ground, such as offering a compromise on price in exchange for faster closing or fewer contingencies.
- Counteroffers and Multiple Offers: If you receive multiple offers, evaluate not just the price but also the buyer’s terms and flexibility. A lower offer with fewer contingencies or a quicker closing can be more valuable than a higher-priced offer with lots of stipulations.
- Leverage Multiple Offers: If you have multiple offers, you can negotiate terms that work in the seller’s favor. Sometimes offering the buyer a chance to improve their offer (e.g., increasing the deposit or shortening contingencies) can elevate the deal without reducing the price.
By focusing on these aspects beyond just the price, you’ll have the ability to guide your seller through negotiations, making sure the offer is as favorable as possible while addressing potential deal-breakers early. Being flexible and communicative with the buyer’s agent is key to making sure your seller’s best interests are represented and a smooth deal can be closed.
5 Steps to Properly Negotiate an Offer Representing the Buyer
1. Present the Offer Professionally
- What to Do: Review the offer details with the buyer to ensure clarity and alignment with their goals. Present the offer to the seller’s agent, highlighting the buyer’s qualifications, earnest money deposit, and any contingencies.
- How It Helps: Clear, professional presentation can immediately build confidence in the offer.
2. Highlight the Buyer’s Financial Strength
- What to Do: Ensure the buyer provides a strong pre-approval letter, potentially from a reputable lender. Consider increasing the earnest money deposit to demonstrate seriousness.
- How It Helps: A strong financial background and commitment show the seller the buyer is reliable and prepared.
3. Tailor Contingencies to Appeal to the Seller
- What to Do: Minimize or waive contingencies (e.g., inspection, financing) when possible, especially in competitive markets. Offer flexibility with timelines, like a quicker closing or rent-back option if the seller needs more time.
- How It Helps: Fewer contingencies reduce the risk for the seller and can speed up the transaction, making your offer more attractive.
4. Utilize an Escalation Clause if Needed
- What to Do: If the market is competitive, include an escalation clause that automatically increases the offer price if higher offers are received, up to a set cap.
- How It Helps: This shows the seller that the buyer is willing to compete, offering a price that ensures their offer stands out without overpaying.
5. Personalize the Offer (Optional)
- What to Do: Consider including a personal letter from the buyer expressing why they love the property and envision making it their home.
- How It Helps: A personal touch can emotionally appeal to the seller, potentially swaying their decision, especially when there are multiple offers.
By following these steps, realtors can enhance the offer’s attractiveness, increase the likelihood of acceptance, and help buyers secure their desired property in a competitive market.
5 Steps to Get More Business from a Real Estate Client
Provide Exceptional Service:
- Go above and beyond to meet your client’s needs, whether it’s offering personalized property recommendations, answering questions promptly, or providing valuable market insights.
- Ensure that every part of the transaction runs smoothly, leaving your client feeling supported and satisfied.
Ask for Referrals:
- Once the transaction is complete, ask your client if they know anyone else who might benefit from your services.
- Be specific in asking for referrals, whether it’s family members, friends, or colleagues who might be buying, selling, or renting a property.
Stay in Touch Post-Transaction:
- Keep in contact after the deal closes, such as sending holiday cards, check-in emails, or market updates relevant to their new property.
- By staying top-of-mind, you increase the likelihood that they’ll come back to you for future real estate needs.
Offer Additional Services:
- Introduce them to services related to home ownership, such as home improvement contractors, property management, or financial advice.
- This not only adds value for your client but also increases the chances of getting future business from them or their network.
Position Yourself as a Long-Term Partner:
- Frame your relationship as a long-term partnership rather than a one-time transaction.
- Let them know that you’re there for all of their future real estate needs and that you’d love to work with them again when they’re ready to buy, sell, or invest.
5 Steps to Get More Business from a Real Estate Client
Provide Exceptional Service:
- Go above and beyond to meet your client’s needs, whether it’s offering personalized property recommendations, answering questions promptly, or providing valuable market insights.
- Ensure that every part of the transaction runs smoothly, leaving your client feeling supported and satisfied.
Ask for Referrals:
- Once the transaction is complete, ask your client if they know anyone else who might benefit from your services.
- Be specific in asking for referrals, whether it’s family members, friends, or colleagues who might be buying, selling, or renting a property.
Stay in Touch Post-Transaction:
- Keep in contact after the deal closes, such as sending holiday cards, check-in emails, or market updates relevant to their new property.
- By staying top-of-mind, you increase the likelihood that they’ll come back to you for future real estate needs.
Offer Additional Services:
- Introduce them to services related to home ownership, such as home improvement contractors, property management, or financial advice.
- This not only adds value for your client but also increases the chances of getting future business from them or their network.
Position Yourself as a Long-Term Partner:
- Frame your relationship as a long-term partnership rather than a one-time transaction.
- Let them know that you’re there for all of their future real estate needs and that you’d love to work with them again when they’re ready to buy, sell, or invest.
Here’s a 5-step guide on how to work with a developer to maximize the sale of their new construction:
1. Understand the Developer’s Vision and Target Market
- Get Clear on the Vision: Before anything, sit down with the developer to understand the overall vision for the project. What is their unique selling point (USP)? Whether it’s luxury, sustainability, family-friendly, or proximity to key amenities, understanding this vision will guide your marketing and sales strategy.
- Identify the Target Audience: Determine the buyer profile the developer aims to attract (e.g., first-time buyers, investors, empty-nesters). Understanding the target demographic will help you tailor your marketing efforts and outreach to the right buyers.
2. Strategize the Right Pricing and Value Proposition
- Market Analysis: Conduct a thorough market analysis to understand what similar properties in the area are selling for and where your development stands in comparison. This includes understanding local trends, property values, and potential buyer demand.
- Competitive Pricing: Work with the developer to determine the right pricing strategy. Ensure the pricing is competitive with similar properties but also reflects the unique features and high-end elements of the new construction. If there are multiple units, consider offering tiered pricing for different types of buyers (e.g., premium versus standard units).
- Value Proposition: Emphasize what makes the development stand out—whether it’s top-tier finishes, energy-efficient features, smart home technology, or a prime location. Make sure these selling points are highlighted in all marketing and sales materials.
3. Create a Comprehensive Marketing and Branding Plan
- Visual Storytelling: Develop high-quality visual marketing materials such as renderings, 3D walkthroughs, and photography that showcase the property in its best light. If the project is still under construction, these materials can help buyers envision the final product.
- Staging and Model Units: If possible, have model units staged or ready for showings. Buyers often need to visualize how they can make the space their own, and staging can help them connect emotionally with the property. Even if the property isn’t fully finished, using digital tools or renderings can help.
- Leverage Digital and Traditional Channels: Use both online (social media, websites, email campaigns) and traditional marketing (open houses, flyers, local events) to reach a wide audience. Use targeted online ads to attract potential buyers specifically interested in new construction.
- Focus on SEO: Ensure the developer’s website and property listings are optimized for search engines. Buyers often search online for new homes, so appearing on the first page of Google can significantly increase visibility.
4. Ensure the Sales Process is Streamlined and Transparent
- Work with a Knowledgeable Team: Ensure that the sales team is knowledgeable about every aspect of the new construction, from the materials used to the anticipated timeline for completion. Buyers will have questions, and you need to be prepared to answer them confidently.
- Transparent Communication: Keep all buyers informed about project timelines, any delays, and potential adjustments. Transparency creates trust and can increase a buyer’s confidence in purchasing a property that’s still in development.
- Flexible Financing Options: Partner with lenders or offer financing programs that can help buyers secure the best mortgage rates. If possible, work with banks that specialize in new construction financing and can offer buyers more tailored options.
5. Leverage Networking and Local Partnerships
- Build Local Relationships: Work with local businesses, real estate agents, and influencers to create buzz about the new construction project. A strong local network can help spread the word and drive potential buyers to the development.
- Partner with Real Estate Agents: Build relationships with other real estate agents who specialize in new construction or luxury properties. Offering them incentives or partnering for co-marketing can help expand your reach.
- Host Exclusive Events: Hold VIP or private preview events for local influencers, real estate professionals, and potential buyers to generate early interest. These events can create a sense of urgency and exclusivity, especially if limited units are available.
Summary:
By understanding the developer’s vision, ensuring competitive pricing, creating an effective marketing plan, streamlining the sales process, and building strong local partnerships, you can work with a developer to maximize the success of their new construction sales. The key is to ensure that the project is visible, desirable, and accessible to the right audience.