Tuesday, May 17, 2011

Things Your Realtor Must Do To Maximize Your Profits!

Ready To List With A Real Estate Agent? Below are some things your agent must do to maximize your net profit!

This report is a community service provided by: Herb Johnson, NKY Realty Group, & RE/MAX Affiliates. If you are interested in additional information, please give us a call at 859-372-8019.

Ready to place your home on the market? Do you understand the process and details of selling a home? Before you list with an agent, educate yourself on all the factors that will affect your profit. Be as informed as possible so you can make the absolutely best business decisions. After all, the sale of your home is a business decision!

Most of us are not tuned into the trends and fluctuations of the real estate market. Likewise we are not aware of the necessary steps to maximize profits on the sale of our home. Typically we rely heavily upon an agent to lead us down the most profitable path. When considering our home is usually the most valuable asset we own, doesn’t it make sense to list with someone who will maximize our profits? But how do we find that agent?

This report is designed to empower you with critical information necessary to evaluate an agent’s qualifications and help you identify a professional. The more meticulous you become in selecting the right agent the chances are the higher your net profit will be!

Start by doing some research.

1. The Phone Interview – Place a call to each of the agents on your list. Document how quickly they returned your call. Remember: they will be returning calls to your prospective homebuyers. Do an initial ‘feel out’ interview over the phone so when you meet you will both be prepared.

2. Request a Complete Plan – From title to escrow, request a complete plan as to the services they can provide for you.

3. Evaluate Their Team –Professionals will have established relationships with lenders, title reps, and inspectors... everything. They are there for your benefit and if they are ill prepared to handle all the steps, you are being short changed.

4. Detailed Report of your Property – Request a complete report of your property with ideas for improvements, cosmetic changes, structural repairs or anything that could add value to your property. Remember a small investment up front will pay higher dividends at the time of sale.

5. Insist on Prequalification – Don’t waste valuable time negotiating or showing your property to unqualified prospects. Insist your agent prequalifies candidates to screen out all unwanted prospects.

6. A Net Sheet – Request a complete net sheet, minus commissions and fees, showing your exact proceeds at the time of sale.

7. A Marketing Plan – Insist on a step-by-step marketing plan of how your property is going to be sold and marketed. Look for innovative ways to attract homebuyers. Demand 24-hour advertising, lead accountability and tracking services. These services exist and you should insist upon them.

8. Telemarketing Efforts – Investigate the agents’ telemarketing team. Do they just cold call or do they have a mechanism to create proactive leads and call on those prospects?

9. Direct Mail – Investigate the agents’ capacity to send direct mail. How often do prospects receive mail? Is it professional? Does the mail piece motivate prospects to respond?

10. Advertising – Is it well written and professional? How many ad mediums do they utilize? They should be advertising in at least three. Remember: the quality of the advertising will directly influence how well your home will be perceived.

11. Negotiation Strategy – Have a written, well conceived, negotiation strategy. The old adage, “You don’t get what you deserve, you get what you negotiate” rings true in real estate. Insist on a sound negotiation strategy before you entertain buyers.

12. Closing Checklist – Be sure to get a written closing checklist. You need to know in detail how you will conclude the sale of your home. This should provide a step-by-step procedure that will be easy to understand and follow.

We sincerely hope these tips and ideas are of value to you. If there is any way we can be of service please contact our office. We would consider it a privilege to be of service to you!

If you would like a FREE consultation call us at our office at 859-372-8019.

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