Knowledge of their local Real Estate market
What may happen in my local Coral Springs FL Real Estate market will likely not be the same as in a Real Estate market 25 miles away. Careful market analysis must be made to determine, the type of market whether Sellers, Balanced or Buyers which are reflected in Absorption rates which describe inventory levels. Then there are recent home sales, homes actively for sale and pending, how fast are homes selling, what are the Real Estate trends, what effect do interest rates have, and overall economy of local market, to name a few.
Setting the right price and marketing the home for sale
I shouldn’t even have to mention that they should know how to price a home and market a home?! This is Real Estate 101. Unfortunately, too many Realtors aren’t taught how to price a home or market a home and will just wing it. A “wing it” price won’t get a home sold. The same thing holds true for marketing a home for sale. There must be a marketing strategy to reach Buyers over the internet where they’re searching for homes to buy. A yard sign, isn’t marketing a home for sale. Employing high quality home presentations and SEO (search engine optimization) techniques are what gets homes noticed. I lumped these together as they are quite often two of the most overlooked and forgotten tricks when it comes to knowing how to sell a home.
Effective communication skills
Timely, prompt communication is perhaps one of the most desired things that a customer seems to have to beg for when selling a home. They hire a Realtor who is very attentive in the beginning, their home is listed for sale and then their Realtor’s interest seems to have sunk with the Titanic. Unfortunately, effective communication skills seems to be the exception and not the norm. I can’t tell you the number of times when I’ve gotten back to a customer and they say, “thank you for your prompt reply!” Customers want to be communicated with on a timely, prompt basis the same day and not the next day, days later or not at all. It should also be understood that customers want to know what’s going on with their home sale. If they have to contact you to find out, then the Realtor isn’t doing their job.
Selling a home or buying a home cannot be set on autopilot. It’s all about never giving up or throwing in the towel when things aren’t running as smoothly as you had hoped for as the following examples suggest: When Seller’s don’t receive a Buyer’s offer right away or receives a low ball offer. Or when a Buyer’s offer is outbid by another Buyer fighting for the same home. Or how about the inspection that reveals costly repairs not known to any party. Or when negotiations simply demand a better outcome for a customer. These Real Estate scenarios that require steady perseverance can go on and on illustrating just what might happen; what can and will go wrong. There are industry specifics that must be adhered to in order to complete a Real Estate transaction. There are times, when other parties to the transaction just don’t seem to get it, and as a Realtor, we must follow up again and again to make sure all is completed with accuracy. It takes a certain character who stands with integrity understanding the importance of getting it done right.
Skilled in negotiations
Selling homes involves negotiations from the moment a home is listed for sale. Negotiation skills are of particular importance during the offer period, during the home inspection process right up through the day of closing. Just about anything can come up between Sellers and Buyers that will require negotiations.
Customers want to know that they matter. It’s important to understand their differences and what’s important to them, and not to dismiss it when it’s not in alignment with what matters to us personally. It’s not that we have to adopt their concerns but rather, we must simply understand their concerns; imagine walking in their shoes.