Tell me what the offer is?

Why do some agents refuse to understand that they do not determine whether or not they can tell selling agents about mulitple offers. The Seller makes the desicion. In our office, this is determined by the Listing agreement.

Standard of Practice 1-15 Realtors®, in response to inquiries from buyers or cooperating brokers shall, with the sellers' approval, disclose the existence of offers on the property. Where disclosure is authorized, Realtors® shall also disclose, if asked, whether offers were obtained by the listing licensee, another licensee in the listing firm, or by a cooperating broker. (Adopted 1/03, Amended 1/09)

Often times it is advantagious for the seller to allow you to to disclose that there are other offers and even what those offers are. Wouldn't a buyer bring their best offer if they knew what they were competing with. Yet many agents still think that these are not viable options and are not discussing this important negotiating tool with their sellers.

The flurry of bank owned properties the past few years has complicated the matter. The banks come with their own listing agreement. Now that we are going back to more traditional sales and short sales, it is time for the real estate agents to get back to basics. Discuss it with your seller, then when you get that call, if it is not under contract, answer the question. Can you disclose whether you have other offers, and what those offers are?

Standard of Practice 3-6
REALTORS® shall disclose the existence of accepted offers, including offers with unresolved contingencies, to any broker seeking cooperation. (Adopted 5/86, Amended 1/04)

After an offer has been accepted, even with contingencies, it must be disclose to other inquiring REALTORS®

Prospecting on an Empty Wallet

Tired of prospecting for clients?

Wouldn't you prefer that they approached YOU?
Generally we don't like cold calling. Nor do we much like sending out dozens of prospecting letters and then getting maybe a 0.5% response.

Why don't we like it? Because we don't like rejection. We don't like feeling that our call or letter has failed. It can be pretty depressing when you have been making cold calls all day with zero response. And that's perfectly normal. None of us like trying our best and then being told NO!

Want to know how to position yourself as an Expert?
1. Write articles for serious publications.
2. Speak at meetings and conferences.
3. Get a book published by a serious publisher.

Not yet ready for all of that? Try these...
Get Involved
•Join organizations
•Join Clubs
•Involve yourself in charity
•Make your actions ring an endorsement of your good name!

Google this, Google that...
•What is your competition up to?
•How can they find you?
•Would you hire you?
•If you do not know what you are up against, how can you possibly Win?

SOCIAL NETWORKING
•Facebook •Active Rain •Twitter •Linked In •Blog about your neighborhood and become the expert

Build a Business Directory
•Connect it to your website •Become the go-to person for info •Pop Bys •Call sporadically •Share the List with other businesses •Get through the "NO's" , Referrals go both ways

Tell 20 Concept!
Promote Listings that are "Coming Soon".
•5 on each side and 10 across the Street
•Use your Commodity •Neighborhood Preview •Neighborhood Barbeque
•Who's in your target neighborhood? •Have you met them?

By Introduction / Family
•Does your spouse prospect for you?
•Parents?
•Children?
•Previous Clients

Everyone must have your business cards

Never neglect your past client database.
The more you keep in touch with your past clients, the easier your job will become. If you don't, you risk the chance that you're sending them the message that they were just another transaction and didn't mean much more to you. That could be a very costly message.
Consider past clients as one of your 'farms'... keep in touch!

Plant Referral Seeds!
•Early and Often •Don't wait until the transaction is complete to ask for referrals. •Referral business reduces your sales expenses and sales cycle.

Use Closing Gifts wisely
One agent delivers a unique, personalized real estate closing gift at closing.
A week later she delivers "something flashy, always with balloons," to the
client at work. "It catches the attention of other people in the office and
gives the client a reason to tell other people about me," she says

Business Cards
Never go to bed without handing out at least 10 Business Cards.
10 per day = Check the Math:
10 X 5 = 50 X 50 = 2500
1% call = 250, 10% buy = 25 Deals X $5000 (avg Com.) - $125,000

It doesn't take a fortune to make one. Just alot of persistence!