On this site? Here’s where things get down to the nitty-gritty, as my Grandma used to say. On this blog, I’ll go behind the curtain to show you what’s really happening in the crazy world of real estate.
I’ll also tell you how I really feel. No holds barred. No rules, just rightTM.
With that in mind, today’s topic is Top 12 Things Realtors Hate About Home Buyers.
Welcome to my third and final piece to the puzzle on the Psychology of Marketing Real Estate. This time we’ll be looking at the “where.” If you missed either of the first two parts, I’ve linked them here.
Where Part 1: Who looked at the people involved in the real estate process and Part 2: What looked at the home itself, today we’re going to focus on the places or locations where the actually marketing will take place. It’s traditionally the kind of real estate promotion that we’re all familiar with.
If you didn’t check out Part 1 in this series—the Psychology of Marketing Real Estate—I encourage you do so. We started with the most important ingredient, people, and now we’re moving on to the physical product itself… the home!
There’s a great deal that goes into a purchase decision involving a new home. First off, it’s one of the largest investments most of us make in our lifetimes. That, by itself, is enough to set many folks trembling.
Yet besides the money, there are a large number of complex emotions that also come into play. As with anything that we humans interact with, things can get complicated quickly.
As with any business where humans participate, there is a psychology involved. Real estate is no different.
In fact, it’s more varied and diverse because there are a larger number of roles interacting with the buying or selling of properties.
In this article, I’m going to look at the psychology of marketing real estate from the Listing Agent’s perspective. While in my home city’s market is tilted towards home sellers just a few short years back this wasn’t the case.
And even expert Realtors can learn a thing or two when it comes to such an incredible complex entity we call home buyers.
One of the most searched for themes on all of the Internet is:
how do I become a successful…
how do I become a successful blogger
how do I become a successful student
how do I become a successful author
how do I become a successful real estate agent
It’s obvious that people are searching. What’s not clear is how to achieve it. With more than 30,400,00 Google results to this query, that’s an ocean freighter, sized load to delve through.
Before we get to any recommended best practices, it’s important to take a step back and analyze which goals you can choose from in the crazy, up-and-down world of real estate.
After considering the choices, it might surprise you to learn which one that I put at the top of the list for successful agents.
It’s not setting goals. It’s setting the right goals.
Let’s brainstorm! When you think about successful real estate agents, what comes to your mind?
Do you think about having your face on billboards across the city? Maybe a glossy ad on the back cover of your favorite local magazine?
Do picture yourself behind the wheel of a new Mercedes E550? Oh wow they are beautiful.
Does the image of you attending a closing every single business day for a month really get your blood pumping?
How about getting that phone call from a celebrity who heard you were the best agent in your city and he’d like to use you to buy a million dollar mansion?
These are all things that might come to mind when you think of becoming a successful real estate agent. And to be truthful, they’re not necessarily wrong.
Most people would start by defining success in the world of real estate in terms of dollars made or properties sold. Companies like REMAX, Century 21 and others have yearly award banquets to honor their “most successful agents.” And these are the criteria they use, when deciding who to hand those brass embossed plaques… that we then take and toss in the storage bin in the basement.
If I may, I’d like to offer a different goal. Making the multi-million gross sales club is difficult. My goal is not so hard.
Trying to sell 100 homes in a year is incredibly difficult. But I have a goal that if you set your mind to it, I guarantee you can achieve it.
Curious? Just a minute more and I’ll share my secret with you.
Good is the enemy of best
Have you ever heard this saying? Good is the enemy of best. I can hear some of you now… “Tre, you’re not making much sense here.” Fair enough, let me explain.
There are times when you do a good job. The client’s home closed. The funds are out of escrow. The moving trucks have come and gone. And, of course, you received your commission check… we can’t forget that.
But on your drive home you may think, “I could have done a better job.” And that’s true! All of us, every one, can do better. We can move up the rankings from good, to better, to best.
So, are you ready? Here it is. This is the goal that I think all of us should rank first.
Be the best real estate agent your client has ever had.
Now, it’s not easy. It’s going to take some hard work.
You’ll need to answer your cell at times you’d really rather not. You may need to show your buyers a couple of homes, you know deep down, they will never buy.
But by going to the extra mile, by always showing up with a smile on your face ready to serve your clients to the very best of your ability, to quote Charlie Sheen, you’ll be winning. I believe that the highest goal of the most successful real estate agent is 100% customer satisfaction.
Now, you will not achieve this goal with every client. Sometimes things happen that are beyond your realm of control. That’s life. But that doesn’t mean this should cease being your primary goal.
Want to know how to become a successful real estate agent? Create clients that are raving fans of you and the service you gave them.
Then, almost miraculously, the other goals on your list are going to happen as well.
In this world nothing can be said to be certain, except death and taxes. – Benjamin Franklin
Today’s tax environment gives new meaning to his nickname, Poor Richard. Am I right?
Once new tax systems are instituted our government is jealous to keep them in place. Sure, taxes may drop for a season but they’ll be back.
Now, property taxes may be some of the most irrational of all taxes. Stop and think about it. You’ve already paid some kind of tax when the purchase took place but the government isn’t satisfied, not while you still have more money they can take.
Property taxes too high? Should you throw your hands up and give in? This reminds me of another quote.
Don’t give up. Don’t ever give up. – Jimmy Valvano
I wrote on this topic back in 2011 when the WSJ quoted Jim Kane as saying, “More than half of homeowners are paying too much in property taxes.” What was true then may still be true for you today.
But how do you know?
Step 1: Determine Market Value
In order to learn if your property taxes are too high, we need to learn true market value. Having an appraisal done will give you a value but before you decide to pay $400-$500 to an appraiser, call your trusted Realtor to do a manually adjusted competitive market analysis (CMA) before you spend any dollars. A quality Realtor, who wants your business in the future, will do this for free.
The manually adjusted process is the same one an appraiser will use. Many times a diligent agent will produce a more accurate value than the appraiser.
If it turns out your home’s current market value is less than your tax assessment, contact your PVA and ask for an adjustment. This should cost you nothing and could save you hundreds, maybe even a thousand dollars a year.
Step 2: Appeal the Decision
What happens if the PVA refuses to budge? Remember Jimmy’s words, don’t give up! Pack up your documentation and appear before the Board of Commissioners in person and state your case.
Believe me, it’s worth the time you invest because the assessed value is often used for 2-3 years before a new adjustment is made.
I’ve seen enough cases where the value was reduced to know that many local tax assessment organizations can be reasonable, if approached through the property channels and with the appropriate attitude.
In a city known for small-batch bourbon, it’s not surprising that the restaurant scene likewise revolves around local artisans. Carefully curated relationships with area farmers lie at the heart of the menu at Proof on Main and Harvest, both downtown. One of the original farm-to-table restaurants in Louisville, Lilly’s highlights free-range beef, organic vegetables and artisanal cheeses. At 610 Magnolia, Edward Lee puts a contemporary spin on Southern fare, while Chef Anthony Lamas highlights fresh seafood at Seviche.
Planning a trip and want to know what other cities have great, local food? Check out this Top 10:
The top 10 winners in the category Best Local Food Scene are as follows:
1. Minneapolis/St. Paul, MN 2. Louisville, KY
3. Nashville, TN
4. Providence, RI
5. Raleigh, NC
6. Asheville, NC
7. Oakland, CA
8. New Orleans, LA
9. Portland, ME
10. Charleston, SC
The process worked like this. A panel of experts picked the 20 nominees. Once done, the rankings were determined by popular vote.
On the other hand, if we the secret keeps getting out, our traffic will only grow worse. So… please no more national attention. Thanks!