Archive for the ‘Uncategorized’ Category

Do Your Online Marketing Efforts Inspire Trust in Your Brand?

Friday, February 3rd, 2012

Trust is imperative to the success of any business, and real estate is no exception. After all, people hire you to help them buy or sell their homes because they trust that you have the experience, knowledge, work ethic and integrity to do so. If you lose trust in your brand, then you lose business, and if you lose business, then let’s just say it: you’re out of business.

Part of our job as real estate virtual assistants is to help you implement more marketing efforts that will help you build your business. The main reason that we are successful at doing this virtually, not on-site, for all of our clients is because they trust us. They rely on us to guide them in the right direction, make suggestions that will benefit their business and get the job done to their standards. We’ve built and maintained that trust, and we advise our clients to utilize the resources available to them to build that too. This is one area that social media maintenance and blogging can actually really benefit your business.

Since social media is a platform in which your community can interact with you and ask questions, you can really utilize it to build trust in your brand. If you look like you’re taking the time to answer everyone’s questions, interact with your network and consistently post valuable information, then people will realize that you are a true expert in your field and you can be trusted to get the job done. Blogging demonstrates how knowledgeable you are about your field and showcases your involvement in your community, as well. If people who are looking for a real estate agent come across this, they will see that you are a trusted resource and that they can rely on you to help them through their real estate transaction.

These two marketing efforts will only help you build up trust in your brand, if you utilize them correctly. If you do them the wrong way, they can actually detract from your brand and make people question you. Here are a few ways that you can ensure that your online presence is building your brand’s trust instead of hindering it.

•    Please check your work. As a writer, I can’t tell you how crazy it makes me when I see agents posting things on Facebook or their blog with a bunch of spelling and obvious grammatical errors. Sure, people make the occasional typo, but if your work is filled with spelling and grammar mistakes, it makes you look a lot less professional. Take the time to spell check, and your presence could start looking more credible and impressive to people who come across it.

•    Answer questions and respond to feedback in a timely fashion. If someone posts a negative review of you on your Facebook wall or asks you a bunch of questions, don’t just ignore them. Take the time to address it in a professional, non-threatening manner. Answering questions does not mean that you have to plug your services. Answer their question as if they were just a friend asking for advice. Similarly, if someone posts a criticism or negative review of your services, then address it, but do so respectfully and if need be, apologetically. People will see that you do care about your clients, and they will respond well to that. After all, nobody has a perfect track record with clients, and it’s how you handle the negative things that show your true strength as an agent.

•    Consistency is key. If you’re going to utilize online marketing as a way to build trust in your brand, then you need to be willing to commit to it. Communicating with your network as frequently as possible will show just how much you value your online network and their input. When customers feel valued, they feel that they can trust that you will do everything you can to make them happy in a business transaction. We know that posting to social media and blogging every day is a large investment of your time, but if you take the time to build the following, you will see how much it actually contributes to the trust people put in to your brand.

In today’s world, before people hire services of any kind, they hop online and look up the business or person they want to hire. Having an active online presence will publicly demonstrate that people value in your brand, and that will make others trust you, too. Your real estate virtual assistant can help you build your brand from the ground up, and they can also get people to respond and trust your brand through your online marketing efforts. After all, if there is one thing that you should want people to associate with your business, it is trust and honesty, right?

Take some time to think about it. Have a great day!

Carrie Gable and the team at RealSupport, Inc.are our “VA Quick Tip” columnists offering expertise in real estate marketing, technology and more. RealSupport’s office and team of 9 full-time staff members is located near Chicago, IL. Their successful team works virtually for many top real estate agents and brokers nationwide. Pioneers in the Real Estate Virtual Assistant industry, RealSupport offers marketing, branding, website and logo design, listing marketing, lead generation, technical support, transaction management, social networking, blogging and much more… Just ask!

Contact Carrie 
Visit us Online at RealSupportInc.com

The Foundation for Successful Marketing for 2012

Friday, December 9th, 2011

The beginning of a new year can be very inspiring as it offers the opportunity to implement change.  If you’re thinking through ways to really make your real estate business stand out in the coming year, there are a wide variety of ways to do so!  From social media marketing, creating videos and a customized YouTube channel, real estate blogging, enhancing your website and networking; your options are nearly limitless!

Yet at the core of all of your marketing, and even at the core of your company, there needs to be a solid foundation of your brand.  Defining the brand of your company forces you to think through questions such as:

- What is the mission of my company?

- How do I want others to view me and my services?

-What is most important to my clients?

- How do I want to run my company?

Using these questions as a jumping off point will help you discover your brand and establish a base for the new year and will be a building block for many years to come!

A recent article by John Williams, an advertising guru who’s created brand standards for Fortune 100 companies such a Mitsubishi, pointed out eight effective ways to build your brand.  Of course, I tweaked them for real estate, but the basic points work in creating a top notch brand for any company.

1.  Get a great logo- Place it everywhere.  If you don’t yet have a logo, or you’d like a professionally designed logo customized to your business; let us know!  Our design team would love to work with you to create a logo that’s uniquely yours and that helps you stand out!

2.  Write down your brand messaging- What are the key messages you want to communicate about your brand? Every employee and agent in your company should be aware of your brand attributes so they can better portray them to clients.

3.  Integrate your brand-  Branding extends to every aspect of your business such as how you answer your phones, what you or your agents wear to meetings and open houses, your e-mail signature, everything.

4.  Create a “voice” for your company that reflects your brand- This voice should be applied to all written communication and incorporated in the visual imagery of all materials, online and off. Is your brand friendly? Be conversational. Is it ritzy? Be more formal. You get the idea.

5.  Develop a tagline- Write a memorable, meaningful and concise statement that captures the essence of your brand.

6.  Design templates and create brand standards for your marketing materials- Use the same color scheme, logo placement, look and feel throughout. You don’t need to be fancy, just consistent.

7.  Be true to your brand- Clients won’t return to you, or refer you to someone else, if you don’t deliver on your brand promise.

8.  Be consistent-  This point is last only because it involves all of the above and is the most important tip. If you can’t do this, your attempts at establishing a brand will fail.

Putting these eight rules for branding into practice for 2012 is a great way to build the foundation of your real estate business!  Even if your company has been in existence for some time; if your brand has been pushed to the wayside, it’s time to create a fresh start!

Now it’s time to get started in creating your brand that will establish your company and act as the launching pad for years of success!

Have a great day!

Carrie Gable and the team at RealSupport, Inc.are our “VA Quick Tip” columnists offering expertise in real estate marketing, technology and more. RealSupport’s office and team of 9 full-time staff members is located near Chicago, IL. Their successful team works virtually for many top real estate agents and brokers nationwide. Pioneers in the Real Estate Virtual Assistant industry, RealSupport offers marketing, branding, website and logo design, listing marketing, lead generation, technical support, transaction management, social networking, blogging and much more… Just ask!

Contact Carrie 
Visit us Online at RealSupportInc.com
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Healthy Benefits of Indulging

Monday, November 28th, 2011

Are you like me?  Feel like you ate the entire Thanksgiving table by yourself?  With groaning belly, your little internal voice scolds, “I shouldn’t have done that.”  Then the guilt kicks in, you beat yourself up and promise to never do it again.  But it’s OK – really!  See, it’s actually good for you!  Here’s why…

Too much of a good thing can be wonderful!

― Mae West

It’s commonly called “indulgence” and is most often looked at as a negative kind of thing.  People who indulge themselves are viewed as lazy, greedy, and selfish.  In striving to maintain our self-image as good and decent folk, we deny ourselves things we truly desire, both big and small.  The more we refuse to acknowledge these things, greater importance gets attached to them and we have to work all the harder to not indulge.  Talk about stressful!  That’s right – the stress of NOT doing something can be more harmful than doing it (in moderation of course).

Now, suppose for a moment that instead you denied those little voices telling you that to indulge in something is bad, and gave yourself permission to enjoy.  Oooo – there now, doesn’t that feel good?  Not only do you have that little reward, but you have a few other things going for you.  Firstly, people who take time to do something for themselves are shown to have an increased sense of self-worth and accomplishment, because you know have the ability to reap the reward of your work.  Secondly, when you admit to a weakness or desire and let go of judgment over it, you find that thing has much less hold on you going forward.  Finally, by being honest with yourself, you are building a true and realistic image of yourself rather than a false one based on ideals.

Keep in mind however, that any indulgence should be safely within the bounds of your lifestyle and kept under moderation.  Making a conscious choice to enjoy life’s little pleasures should never pose a serious danger to health and well being.

That being said, the next time that voice says “You shouldn’t do that,” feel free to answer, “Oh yes I should!  It’s good for me!”

4 Tips for Protecting Your Social Media Reputation!

Friday, October 21st, 2011

With the whirlwind of the social media surge, it seemed that everyone jumped on board at the same time. Before we knew it, everything had turned social and if you weren’t on the bandwagon, you were quickly left out.  Over the past few years, it seems that everyone and every business has turned to social media to stay in touch and on top of their game.  But at what cost?

If you haven’t considered how social media could affect your reputation, now is a great time to start.  As a real estate agent, your image and what others say about you are important.  People are always looking for referrals for large investments like buying or selling a home, and one bad report can hurt your business.  In the same way, a positive experience or a great testimonial can help you tremendously!

Even if you haven’t thought of how your social media could affect your reputation, taking a close look at these tips can help you organize your thoughts and ensure that your social media is working as effectively as you’d like it to and helping to boost your business.  These tips originally appeared in an article on the American Express Open Forum, but I’ve adapted them to be more real estate specific.  Take a look!

1. Research and Plan- Ideally, this would have been part of the process prior to jumping into your social media, but it’s never too late to begin thinking through how you’d like to use your social media.  It’s important to ask these questions:

▪What are my goals and objectives?

▪Who am I trying to reach? Where do I think those people are online?

▪What online channels or social media sites might be the right fit for my business?

▪How much time do I realistically have to invest in this?

▪Am I prepared for negative conversation about my services?

After looking at your business and your audience, you may find that you don’t have to be on every social media site out there.  Honing in on a few of the key ones that you know will reach your target audience can help you put your time and energy where it will matter the most.

2. Monitor and Listen- It’s important to be aware of what others are saying about you and your services.  This way, you can address any negative issues on your social media sites.

For example, if people have complained about your lack of communication, use your social media to post about some of the new technology you’re using or tools that will allow you to communicate quickly and efficiently with clients whether it’s a monthly newsletter, your social media sites, or that new phone that allows you to be in constant communication with clients.  It’s all about listening to what your clients are saying, monitoring your social media sites and making sure to get involved.

3. Join in the Conversation- If you’re monitoring your comments on your social media, take the time to jump into conversations!  We handle the social media for many of our clients and regularly post questions to spark conversation.  If you do this, you have to be sure to jump into a conversation and stay involved!  People may have follow up questions or may begin a new topic entirely, so don’t check it off your list once you’ve commented one time.

Even though you’re a small business, planning ahead on what topics you want to discuss can keep you from defaulting to the latest political news or a mindless post.  Remember everything you post is public and will, in some way, affect your reputation.  Having a schedule of items you want to post a few weeks out can give you clarity and let your fans or followers see that you’re organized and are posting things that are pertinent to them.  Never post something just to post!

4.  Have a Plan for Negative Feedback- Whether it’s a negative comment or complaint, you want to have a predetermined plan of how you want to handle it.  Of course, we don’t like thinking through these things, but how you handle something like this can also play an important role in your reputation.

Just deleting anything negative on your site may look like you’re trying to hide something or you’re not willing to address the issue.  It also will more than likely add fuel to the person’s fire and can blow up into a bigger issue.  Taking the time to respond professionally, being willing to apologize if necessary and quickly righting any wrong will speak volumes into who you are.  Take the opportunity to turn something negative into a positive and chances are, you’ll find the person who had the issue could quickly become one of your biggest fans!

As you think through protecting your reputation on your social media sites, we hope these four tips will steer you in the right direction!  Social media is here to stay and it can play a major role in how people view you and your business.

Carrie Gable and the team at RealSupport, Inc.are our “VA Quick Tip” columnists offering expertise in real estate marketing, technology and more. RealSupport’s office and team of 9 full-time staff members is located near Chicago, IL. Their successful team works virtually for many top real estate agents and brokers nationwide. Pioneers in the Real Estate Virtual Assistant industry, RealSupport offers marketing, branding, website and logo design, listing marketing, lead generation, technical support, transaction management, social networking, blogging and much more… Just ask!

Contact Carrie 
Visit us Online at RealSupportInc.com
Join Our LinkedIn Group
Become a Facebook Fan
Follow me on Twitter

I’m a failure and proud of it!

Monday, October 10th, 2011

This oxymoronic statement was uttered by a former Online Dominance student as he reflected on his journey of the last couple years to the success and happiness he now enjoys.  He’s a very different person now than he was then, I can assure you.  Two years ago, he was miserable, unhappy in his career, and for a long while he didn’t even realize it.  Once he did, he tried twisting and turning this way and that to find a new path for his life.  And he failed.  Repeatedly.

But as it turns out, that was exactly what he needed.  He had to fail over and over again before he got over his fear of failure.  Once he did that, he began recognizing that as he was failing, he was also learning – about business, himself, his passion.  Once he accepted this, the path he needed to take became clear.

 Success consists of going from failure to failure without loss of enthusiasm. – Winston Churchill

People get so defensive about failing.  We rail against the very concept, we often try to deflect our less than stellar outcomes by making excuses – lack of time, someone else didn’t get us the info, unexpected events pop up – anything to shield our ego.  Then, when a failure is undeniably staring us in the face, we go the opposite route and start beating ourselves up, which only mires us in anxiety.

Instead, take a step back and be objective!  Realize that failure is not final.  You have simply learned how not to do a thing, which can often be even more valuable than knowing only the right way.

Back to the Basics: 10 Foundational Tips for Your Success!

Friday, August 19th, 2011

Being on the cutting edge of social media is imperative for marketing in today’s society.  Having a presence onFacebook,Twitter, LinkedIn, Google+ and other social media sites meets your clients exactly where they’re at and shows that you’re serious about taking your real estate business to the next level.  Our goal as Real Estate Virtual Assistants is to ensure that you stay updated on all the latest social media happenings and to help you navigate through changes that come on a weekly basis.

And, while social media is vital to your success, it’s even more important to keep your client- not your online presence- at the center of your focus.  The minute you lose sight of your client and their needs is the minute you’ll begin to lose clients.  

Success for your real estate business is based on a foundation of excellent customer service.

Let’s take a ten step refresher course as noted by web and iPhone developer Raphael Caixeta.  While you may be doing a great job with clients and are constantly getting referrals, taking a few minutes to review customer service basics can give you a fresh perspective and motivation on why you do what you do!

1. Respond to clients as soon as possible- This may seem basic, but responding as soon as possible lets the client know you’re on top of it and that you respect them enough to not put them off.  Even if you’re not able to take care of the issue at hand immediately, acknowledging them shows you’re considerate of their needs.

2. Keep clients updated- This is especially true with home buyers and sellers who are anxious to close on a deal.  Make sure they are in the loop and are the first ones to know when new developments take place.

3. Go the extra mile- It can be tempting, especially when you’re busy, to only do the minimum.  But providing great customer service will always include going above and beyond what they’re asking of you.  As a real estate agent, you can probably think of many ways to put this into practice!

4. Fix your mistakes- Admitting you’re wrong or you’ve messed up is never easy.  But guess what?  The client will most likely find out eventually.  Take responsibility and fix the problem right away.  Letting your client know what happened and how you fixed it will be a breath of fresh air and will help build their trust and respect.

5. Listen to your clients- This is key!  Take the time to truly listen to your clients and not just hear what they’re saying.  Getting in touch with your clients needs or concerns will give you deeper insight into how you can serve them.  Of course you’re the expert, but listening and guiding your clients is the key to successfully serving your clients.

6. Keep your promise- If you say you’re going to do something.  Do it.  It shows that you’re a professional and that they can count on you to follow through.  If you have trouble remembering what you said you were going to do, take a minute to jot notes after a conversation with a client so that you don’t forget.

7. Don’t confuse clients with jargon- There are a myriad of real estate terms that your clients are not going to know.  Make sure that you’re bringing conversations to a level that makes sense to them, without making them feel dumb.  If you’re using real estate terms, take a minute to quickly interject a brief explanation.  This will help educate them at the same time!

8. Be patient- As real estate agents you’ve all dealt with those difficult clients.  (I’m sure vivid stories are coming to mind even now!)  Yet, no matter pushy they are and no matter how many times you’ve answered the same question; being patient is crucial.  If you lose your cool and begin to show your annoyance, your professionalism goes out the window.  If you need to, take a few minutes to step away from them and collect your composure.  Never answer an email or a text when you’re frustrated and if they are pushing their boundaries, address it in a professional manner.

9. Know everything you need to know- You’re the expert.  If you’re dealing with a seller, know all that you can about the house, the comps and have a detailed plan of how you’ll get their home sold.  If your client is a buyer, know their needs and wants, the current homes on the market and any new or updated processes of buying a home.  Simply put?  They’re paying you to be the expert, so make sure you know everything you need to know!

10. Put yourself in their shoes- This seems like the oldest saying in the book, but this adage will go a long way.  Providing the customer service that you would expect will ensure they have a great experience in working with you!  Keep this at the forefront of your mind and you’ll do great!

I hope this quick refresher has been beneficial to you!  While maintaining a cuttinge-edge online presence, don’t neglect the foundational element of your business… your client.

 

Carrie Gable and the team at RealSupport, Inc.are our “VA Quick Tip” columnists offering expertise in real estate marketing, technology and more. RealSupport’s office and team of 9 full-time staff members is located near Chicago, IL. Their successful team works virtually for many top real estate agents and brokers nationwide. Pioneers in the Real Estate Virtual Assistantindustry, RealSupport offers marketing, branding, website and logo design, listing marketing, lead generation, technical support, transaction management, social networking, blogging and much more… Just ask!

Contact Carrie 
Visit us Online at RealSupportInc.com
Join Our LinkedIn Group
Become a Facebook Fan
Follow me on Twitter

What’s In a Name? How To Avoid Domain Name Disaster!

Friday, July 1st, 2011

So, you’re getting ready to launch your new website.  You’ve spent a few grand in the process of building a custom real estate website and you’re excited to showcase it to the world.  The only thing you’re still debating is the domain name.  You want to highlight that you’re a real estate agent and the area you service, but you also want people to become familiar with your name.  How do you decide?  You may think it simply comes down to making a decision and going with it.  But that’s not the case!  In fact, choosing the wrong domain name can bring your whole business to ruin if you’re not careful!

If you’re not sure what to include in your name or a little leery of buying a domain, here are a few Do’s and Don’ts that will help guide you!

Do: Location and Key Words- Include your main key words in your domain name if at all possible.  Noting your location and what you do is imperative for SEO.  For instance, www.NorthofBostonRealEstate.com is a great way to get noticed by those searching for real estate information in the North of Boston area!

Do: Auto Renew- While you may feel leery about having your domain auto renew because you’re not sure how long you’ll have your current website or business; forgetting to renew it can lead to disaster.  The moment a domain name is not renewed it’s seen as available.  If you have a great domain name, like the one mentioned above, someone could easily buy it and you’ve lost your suddenly lost your domain. This, in turn, would mean having to reprint any business cards and other print materials along with having to build up your following all over again.

Do: Own Your Domain- Having someone else register your domain for you is fine, but make sure that your name is noted as the business owner and administrative contact.  That way, if you hire a new assistant or web contact; you’ll ensure that your domain is your property- no questions asked.

Don’t: Make it Hard to Remember- While you may think using “4” instead of “for” is catchy or that a misspelled word as in “real estate sellz” is memorable; it’s not.  Any time you use a number, misspelled word, abbreviation or punctuation, it will be harder to remember.  Oftentimes, people will only hear the your domain name mentioned in passing and will try to look it up; however they’ll wind up empty handed.  Keep your site name simple and it will be far more memorable.

Don’t: Forget the Past- You always want to check into your domain names’ past.  There are millions of websites out there, and even if a domain name is available, it may be too similar to another websites name and can run into legal trouble.  Always verify your domain name before purchasing.

Don’t: Buy Every Extension
- Unless you feel that your site name is common enough that it will be used again, you don’t need to buy every extension of your domain name; .com will be sufficient.  Buying .net, .info, etc… will only add up to additional costs that aren’t necessary.

Phew!  Well, that’s quite a list but one that can save you from heartache down the road!  If you have questions about registering your domain, or have been considering getting a new website in place, let your Real Estate Virtual Assistant know!  Some REVA’s are experienced with the ins and outs of domain management and can even create the custom website of your dreams!  Your REVA can help you brainstorm a domain name, build a customized real estate site and come up with a marketing plan to showcase the results to your current and potential clients!

Carrie Gable and the team at RealSupport, Inc. are our “VA Quick Tip” columnists offering expertise in real estate marketing, technology and more. RealSupport’s office and team of 9 full-time staff members is located near Chicago, IL. Their successful team works virtually for many top real estate agents and brokers nationwide. Pioneers in the Real Estate Virtual Assistantindustry, RealSupport offers marketing, branding, website and logo design, listing marketing, lead generation, technical support, transaction management, social networking, blogging and much more… Just ask!

Contact Carrie
Visit us Online at RealSupportInc.com
Join Our LinkedIn Group
Become a Facebook Fan
Follow me on Twitter

 

Walk Into Your Next Listing Appointment With Confidence!

Friday, August 20th, 2010

When you think of an assistant, do you think of someone that does just what you tell them to do, and carries out tasks that you’ve come up with? If you enlist the services of an experienced Real Estate Virtual Assistant, your assistant will also be your marketing mentor, coach, instructor, and guide.

If your busy schedule prevents you from being on top of all the latest news, gadgets, tools, and resources for marketing, just consult the experts. A Real Estate Virtual Assistant will not only fulfill your specific requests, they will also make suggestions, educate you on the newest trends, and guide you to a successful and organized future.

Sure, an VA can help with file coordination, mailings and client correspondence, but can they really help you win over a listing appointment? You bet.

It is important to do your due diligence when looking for a virtual assistant. Choosing a qualified and talented team of virtual assistants will be the key!  If you have the right VA on your side, all you will need to do is tell them your goals, and they will take care of the rest.  In our experience as a Virtual Assistant Team, our clients often say, “I’d really like to stand out from my fellow agents in the area,” or “I’d really like to attract more high end sellers.”  

Over the years, we have developed thorough systems that we are ready to put to work for each client.

We’ve even put together comprehensive Marketing & Pre-Listing Presentations that can be customized to showcase your your marketing efforts:

If you know what you want but don’t know what you need to do to get there, a Virtual Assistant can help.  Your VA will make recommendations and come up with an effective marketing strategy, based on your unique needs.

What would you rather do for your next listing appointment: Bring out the same routine you’ve been giving to all prospects for the past years, or call your virtual assistants to prepare a marketing presentation outlining all of the benefits of choosing you to sell their home?  Pull out all the stops! Brochures, single property domains, virtual tours, targeted extensive online exposure, even highly targeted advertising on Facebook.

The best part is, your time can be spent booking your next listing appointment while your VA rolls up their sleeves and delivers on your promises. Rest assured, your VA will implement all of the marketing efforts after you win over the listing.

You CAN have the confidence to promise a quick turnaround and professional marketing pieces. What are you waiting for?

Carrie Gable and the team at RealSupport, Inc. are our “VA Quick Tip” columnists offering expertise in real estate marketing, technology and more. RealSupport’s office and team of 9 full-time staff members is located near Chicago, IL. Their successful team works virtually for many top real estate agents and brokers nationwide. Pioneers in the Real Estate Virtual Assistant industry, RealSupport offers marketing, branding, website and logo design, listing marketing, lead generation, technical support, transaction management, social networking, blogging and much more… Just ask!

Just How Much Is Certainty Costing You?

Thursday, December 3rd, 2009

So what does your future hold?Do you ever have those days where you would prefer to stay snuggled in bed and not face the uncertainties of business, or life?  Someone once said that being in control is an illusion, and we might as well add the notion of certainty to that as well.

When things are going well it’s natural to feel “certain” that they will continue.  And the same for when things are going badly.  But in either case, there is no certainty, just constant change.

As human beings, we are hard-wired to crave certainty (that’s why we were all suckered into believing those fancy securities rating agencies that gave mortgage-backed securities AAA ratings).

There is really only one thing we can be certain of —our ability to choose to move forward even in the face of uncertainty.  Moving forward will not guarantee (there’s that darn certainty thing again!) results, but it does guarantee a chance for it…

The average man seeks certainty in the eyes of the onlooker and calls that self-confidence. The warrior seeks impeccability in his own eyes and calls that humbleness. The average man is hooked to his fellow men, while the warrior is hooked only to infinity.

Carlos Castaneda

We are all saddled with the same primitive survival instincts that cause us to seek out certainty.  Thankfully we were also given the gifts necessary to rise above those reactive tendencies.  Whether you seek the solace of certainty, or have the courage to move forward despite the lack of it, is totally up to you —and that IS something you can be certain about.

Short Sales as a Niche Short Sighted

Thursday, September 4th, 2008

Sad to say, the number of people trying to short sell their home to avoid mortgage default or foreclosure increases daily.  One may think a savvy real estate agent would look upon this situation as an opportunity to specialize in the short sell process, and garner a fair amount of business by doing so.  However, let’s take a look at the bigger picture…

The Short View on Short Sells

Basically, a short sale is a desperate measure for desperate times – for all parties involved.  The person selling their house is obviously in severe financial distress, and the lender is just looking for a way to cut their losses on a loan gone bad.  The sales prices on short sold properties are well below market value, requires a terribly complicated process, and the time involved for the deal to be completed is painfully long.  These factors combined have to make you wonder if the time you need to invest is worth the payoff.  Trying to make up for it though sheer volume will simply add the headache of tracking and maintaining all these deals to the heartache inherent in the situation.  In other words, it’s a lot of work and hassle for little return.  Wouldn’t it be better worth your time to focus on a niche that would garner less work and greater return?

The Long View Ain’t So Pretty Either

The realities of the short view on short sales aside, let’s take a look at the longer term view.  If you’re like most agents, a fairly decent percentage of business comes from either returning customers or referrals from happy clients.  Well, people who are forced to short sell their homes are neither happy, nor are they likely to be buying a home again for a long time given the hit their credit will take.

Also, although all prognostications say we have yet to hit the bottom of this mortgage crisis, the fact remains that it is ultimately a short-lived situation.  In a year or two, the market will level out again and a new normal will be established.  Short sells will be a beast of the past instead of the everyday occurrence they are now.  Where will that leave your niche, the specialty for which you are known?  You’d be coming’ up short, my friend! 

Primary vs. Secondary Niche

Now, all this is not to say you can’t glean some benefit from the current situation.  After all, most the people who have been backed into the short sell corner genuinely need the assistance of an experienced professional broker or agent to help them through this difficult time too.  There is no reason you should not be ready for the opportunity.  If you see enough value in short sells in your particular area, go ahead and develop short sales as a niche – BUT, do it as a secondary niche to your primary target market.  It would be a short-sighted mistake to rely on short sells as a long-term business strategy.


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