In this game of sales that we call real estate, there are a million different lead sources that REALTORS® choose to spend money with in hopes of getting connected to a ready, willing, and able buyer or seller. It's very common for real estate agents to justify their marketing spend on whether those fresh leads transact immediately or not. The crazy part to me is if an agent doesn't get in touch with a lead right away, they dismiss the lead as a "BAD LEAD". Hopefully, you can...
Joining us again today for this Q&A is guest Michael Banovac, a luxury real estate agent in Scottsdale, Arizona. Michael has been featured in several local and national media outlets such as CNN, TIME, Fortune, Yahoo Finance, and The Street. He served as a 2017 Tour Director, the 2020 Co-Chair, and the 2021 Chair of the Paradise Valley Luxury Home Tour.
Michael is partners with Tarek El Moussa (the star of HGTV’S Flip or Flop & Flipping 101) and from 2012-2022 has acquired,...
CRITICAL COMPONENTS TO LIST 50+ HOMES PER YEAR
The key to getting more listings is becoming a “Local Market Expert.” The hard thing about real estate is that no one teaches you how to market yourself. As the numbers of agents available continue to increase, it becomes increasingly important to become an expert.
LOCAL MARKET EXPERTISE
When having a conversation with a friend, a neighbor, a family member, or an open house visitor, most realtors will usually start a conversation by...
How to run comparables for the listing price and hopefully the selling price of a home is more challenging than it sounds. The real estate industry has brokers and MLS trainers teaching classes how to run comps. Yet, my motto on running comps is similar to the comp methods that industry Russell Shaw equated. His motto, as well as mine, is that comps were independently determined. Over the past five years, I’ve tracked my sales, during this time my comps have been about 95% accurate.
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Being able to estimate renovation costs for home updates is impactful for both the buyer and the seller side. When working with buyers, they may see a home they’re interested in online but they’re concerned that the updates they desire won’t fit within their budget. They may overestimate the costs required for those updates and perhaps won’t consider homes at a higher price point because of this inaccurate information.
When working with sellers, being able to estimate...
Open Houses work as the best possible tool to sell a home for top dollar if you execute them correctly. The reason they work is they get people out from behind their computer, tablet, or cell phone at home or work and give them a free look on their time. Often they already find themselves in that area during the time offered so they are impacted using their freedom of choice to swing by. This explains how we get 50%+ of our traffic for open houses from the Internet (Trulia, Zillow, Redfin...
Most sellers are unsentimental about their homes, instead, they prioritize profits from the sale over concerns about the home’s future under a new owner. As reported in the Zillow Consumer Housing Trends Report, half of sellers say maximizing profit is the most important goal, while 38 percent of sellers prioritize selling within their target time frame, and 12 percent say making sure their home has a good next owner is the most important priority.
TIMING CONCERNS
Urban sellers are...
On average, a home is officially listed on the market for three months. Combined with the average seven months that sellers think about listing their home, the entire process from initial thought to closing can take around 10 months as reported in the Zillow Consumer Housing Trends Report 2018.
Sellers in rural areas experience the longest listing times compared to the suburbs before selling. The shorter selling times may reflect the popularity of suburbs. Yet, more than half of city-loving...
