Real Estate in a Virtual World.

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The Short List

To be successful in real estate requires that you are on the "short list" of agents competing for a listing or a buyer agency contract.  Have you ever thought about the number of agents that work in your marketplace and how fortunate you are to have the opportunity to earn a consumer's business?

How do you get on the short list?  The Seller will typically interview 2-3 agents.  The "short list" will include the agent that sold them the property if they are still in business, provided good to great service and have followed up appropriately.  In most cases, the Seller will interview two other agents, the "perceived" player in the marketplace and an agent by referral.  Most successful agents have a significant database of past clients and work a referral based system.  

If you are not included in that "short list" you must compete through marketing techniques such as direct mail, farming and advertising for future opportunities.  The conversion of a listing consultation into a good listing will be dependent on your skills in selling yourself and presenting a marketing plan the Seller is in sync with.

On the buying side, being on the "short list" is accomplished by referral, past clients, and Internet leads.  The primary opportunity for most agents now and in the future, is to increase their opportunities on the buying side through the Internet.

Once you are proficiency in working the "short list" concept you will be on your way to building a successful business.

 

The information is provided through RE/MAX Country Properties, Amherst, NH (www.nhrelocation.com) and is obtained through the NNEREN MLS System.  Our other office, RE/MAX Innovations (www.relocationma.com) services both NH and MA.

Visit other NH real estate community websites at New Hampshire Real Estate

To view communities in Massachusetts visit MA Real Estate and to search the Massachusetts MLS visit MA MLS and view properties through a map based search.  In other states, visit http://www.virtualhomes.com.

 

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Comment balloon 10 commentsFred Doleac • November 08 2008 08:06PM

Comments

I ageree...and let's not forget once you get those buyers to treat them like gold and keep them happy...escpecially now in this market....and tell them about buyers remorse right up front or risk having it fall out!!

 

Regards

 

Rick

Posted by Richard Goates, Broker 01251781 (Apex California Realty) about 12 years ago

Absolutely. This is why staying in touch with past clients and constantly filling that pipeline is crucial.

Posted by LS Rogers Realty (LS Rogers Realty) about 12 years ago

$51.3 million in sales; 78% are from people I know.  It is all about relationships.  18% are from sign calls....thus if you are focussing too much time on the internet for NEW leads, you are making a serious mistake.  Know your numbers.........

Posted by TIM MONCRIEF, Over 2,000 homes sold….. (Tim Monciref) about 12 years ago

Tim, sorry can't agree with you there!  82% of all our business is from the Internet.  My team of agents have closed a little over 60 deals this year from the Internet and we generate over 400 buyer leads a month from my real estate website.  I anticipate our numbers will be over 100 deals in 2009 from the Internet, so investing your time in Internet leads is not a "serious mistake"!!!

Posted by Tony Sena, Broker/Property Manager (Shelter Realty, Inc) about 12 years ago

Tim - you probably are a more experienced agent with a significant sphere.  Have you noticed that you do not close as many "two-sided" transactions as in the past?  Buyer side is half of the market.  With your volume of listings, you could hire 4 buyers agents and increase your volume to $100 million.  Don't rest on your success.  Congratulations on a great year.

Tony - Great news on your success, especially in one of the more difficult markets in the country.  The buying side is where to be in Vegas.  Don't forget to database on these Buyers, stay in touch, and build your listing business when they sell.  What do you use for a CRM to manage your leads and sphere?

Posted by Fred Doleac, Real Estate in a Virtual World (Fred Doleac - Bean Group) about 12 years ago

Rick and Trunda - thanks for the comment.  What do you use for a CRM?

Posted by Fred Doleac, Real Estate in a Virtual World (Fred Doleac - Bean Group) about 12 years ago

Fred - Regardless of where the lead originates we must still present a convincing case to prospects that we are the right agent for them.  We have to be able to distinguish our services from everyone else out there.  People who are selling their homes want success; not every home placed on the market sells.  How will we get their home sold?  We mine all kinds of data for our buyers and we alert them to positive and negative aspects of homes we look at.  Above all else, we provide great service to our clients and respond quickly to their calls.

Posted by Jon Wnoroski, Summit County Realtor (America's 1st Choice RH Realty Co., Inc.) about 12 years ago

Jon - I agree.  Conversion is the second step to having the opportunity.

Posted by Fred Doleac, Real Estate in a Virtual World (Fred Doleac - Bean Group) about 12 years ago

Good concept, though hard to manage.  Sometimes you have to get on the "short list" when it expires!

Posted by Eileen Begley, Monterey Real Estate (Coldwell Banker, DelMonte) about 12 years ago

Fred... I want to always be on the top of the short list. Thanks for sharing

Posted by Roland Woodworth, eXp Realty (eXp Realty) about 12 years ago

Participate