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PONDER THIS WHEN EVALUATING THE PUNDITS
This guideline was given in 1986 to her colleagues by syndicated financial columnist Jane Bryant Quinn: "The rule on staying alive as a forecaster is to give 'em a number and give 'em a date, but never give 'em both at once."
That same year, this anonymous quote appeared in the Cincinnati Enquirer: "Isn't it strange that the same people who laugh at gypsy fortune tellers take economists seriously?"
N.B. Economists tend to be like foghorns - calling attention to dangerous situations without doing anything about them.
PLAY A "PAT" HAND WITH PAST CUSTOMERS
Realtor Pat Zaby, a master teacher and real estate practitioner, as well as an old pal, counsels against what he calls "dead-end deals."
After a sale has been closed and the buyers have moved in, sez Pat, it pays to "drop in" on them occasionally for the first couple of months, bringing a small gift.
It tells them that your interest in them went far beyond the commission you were paid and gives you an opportunity to help them with the transition to a new life style.
Another side benefit, as we see it, would be tying up any loose ends that might have survived the closing process AND, perhaps, picking up a referral now and then.
One more thought: If they have nice things to say about your service, be sure to ask them to say so in a brief written note, which you can proudly add to your presentation material!
For more info about Pat and his excellent educational material, visit www.patzaby.com.
SELLERS NOT GETTING THE WORD?
One of the more frequent complaints we hear from the field is about those #@+* sellers who can't handle the truth about their overpriced homes.
One easy and inexpensive solution is a 30-minute audio program entitled "The Facts Of Life For Home Sellers." (Costs only $7.50, including S&H)
Sold out several times as an audio cassette, it is now available in CD format.
Among other things, it informs homeowners (and reminds agents) in plain, straightforward language, that the three most important factors in selling a house are not, as so often stated, "location, location and location."
They are price, price and price!
In any market, after a reasonable period of exposure to potential buyers, an unsold property is OVERPRICED.
Never mind what "the guy down the street got last year" or what the Competitive Market Analysis suggests. When a listing is no longer attracting attention and generating activity, it should either be offered at a lower price or taken off the market.
The CD, narrated by Joe Klock, is designed to be LOANED by agents to reluctant sellers and intrepid FSBOs for later retrieval and discussion. (That sequence is important, by the way!)
Sure, you've told 'em and told 'em and TOLD 'em all that, but sometimes it takes an outsider to get the message through.
Go to our ordering page for purchasing details.
A FOOTNOTE TO THE FOREGOING:
Often, agents who continue to market a hopelessly overpriced listing do so because they're reluctant (maybe even afraid) to tell the sellers the truth.
This makes them as culpable in a glutted market as the owners - even more so, since the experts should know better, and almost always do.
An excess of housing inventory, even when it includes unsalable homes, contributes to the public notion that "things are not selling" and/or that "the market is just off."
Neither perception is correct, since a home will ALWAYS sell for the best offer obtainable from the best buyers available.
It's called "fair market value," remember?
GIVE A LITTLE...GET A LITTLE (Very basic stuff.)
When answering telephone inquiries, don't "give away the store" by rattling off the price, location and full description of the subject property. If the prospects get TOO much information, they may simply hang up and be lost to you forever.
On the other hand, don't "stonewall" callers by answering his/her every question with a self-serving question of your own.
THE WRONG WAY:
Caller: "What's the address of that home you have advertised for under $300,000?"
You: "May I have your name, please?"
A BETTER WAY:
Caller: "What's the address of that home you advertised for under $300,000?"
You: "That's in the Maple Shade section - what sort of home are you looking for?"
The technique is to GIVE a little information in exchange for GETTING some in exchange.
Your "key questions" should focus on the callers' wants, needs and motivation (how long have they been looking for a home, how much time do they have to find one, why are they moving, etc.), rather than their identity
Instead of opening with a "third degree" confrontation, trade bits of your information about the property for their answers to valuable qualifying questions.
Too many beans spilled at the outset might give the callers all the info they need to motivate them...to hang up!
Your objective should be to keep them talking until you can separate the casual callers from the buyers in your future!
CLOSING ON THE OBJECTION
When confronted with an obstacle (e.g., "The price is too high"), a salespersonâ€™s natural instinct is to meet it head-on and smack it down immediately.
The trouble is that the first question raised is seldom the BIG objection, and it is almost never the only one.
A better strategy is to close on the objection, like so:
First, acknowledge and restate the customer's complaint, to prove that you both understand and respect it.
Then say something like: "If this (e.g., the price) were not a problem, could we do business right now?"
Such an approach will either isolate the problem, so you can effectively deal with it, or smoke out other objections, among which might be the real obstacle to getting a commitment.
If you handle every objection as soon as it arises, you may be wasting time and energy by attacking "straw men" without getting to the root of the buyer's resistance.
(Excerpted from the forthcoming book "The Real World Of Selling Real Estate" by Joe Klock, Sr. - Anomaly Books, Ltd)
ON THINKING "OUTSIDE THE BOX"
Oliver Wendell Holmes once observed that "A mind, once stretched by an original idea, never returns to its original size again."
Observation: It follows that a mind that never entertains an original idea retains its original shape, size and flabbiness.