Background & Reputation

Start by examining their background. Do they have experience in interior design? Are they former real estate agents? Finding out what they bring to the table can help you determine if they have what it takes to make your listings look their absolute best.

Naturally, you will also want to review the company’s reputation. Asking for references from other real estate agents and home sellers is a step that can help you narrow down your search. It’s not a step you want to skip.

Stylistic Flexibility

Homes come in all shapes, sizes, and styles. The home staging services you partner with should have experience working with the types of homes that make up the majority of your listings. Whether you are selling Craftsman’s, Art Deco’s, or Georgian Colonial’s. be sure that your partner knows how to use the architectural elements to make these properties look their best so that they match the expectations of prospective buyers of those types of properties.

When considering home staging services, ask to see examples of the scenes they have designed. Look for their use of colors, the way they maximize lighting, how they position furniture to create a strong sense of space, and all the little details they tend to. Visual examples give you a good idea of their thought process and their effectiveness at creating scenes that resonate with prospective buyers. The stronger their knowledge of design principles and possibilities, the more appealing your listings will be in the eyes of prospective home buyers.

Work Ethic & Work Style

Everyone has their own way of getting the job done. You will want to choose a partner who has a work ethic and work style that you can work with. This can help minimize conflict and reduce stress as you wait for them to complete the job. The closer their work ethic and work style matches your own, the more efficient and effective the partnership will be. This translates to increased sales and greater profits for everyone.

Most importantly, you will want to make sure that the home staging service has the ability to complete the volume of work you expect to send their way. This is crucial as you don’t want to end up in a situation where the service is so backed up that you can’t get your listings out there on your schedule.

The Brass Tacks

Home staging services can cost anywhere from a few hundred dollars all the way up to thousands of dollars depending on the services required and the size of the home. You will want to drill deep into the pricing of their services and what you can expect to pay for the services you typically need. Many real estate agents are able to negotiate a lower rate for these services due to the volume of business they are able to generate for the home staging service itself.

Premier Commission can help you get the most from your real estate business. We invite you to contact us to learn more about the services we offer that can help you increase your overall sales and maximize the profits from your efforts.

1. Adjust Your Pricing Accordingly

You need to stay afloat, and that means you need to consider pricing more towards the median range of comparable properties. You may even go lower and price around the lower end of the average. This will draw attention to the property and possibly bring in some interested parties.

2. Upkeep the Property and Work On Curb Appeal

Even when things are slow, aesthetics can make all the difference. Make sure to keep the property clean and maintained, inside and out. Additionally, you can try to add a little curb appeal with a few inexpensive upgrades.

• Paint the door or trim
• Put in a new or unique mailbox
• Plant a tree, flowers, or other foliage
• Keep the yard manicured
• Consider adding path lights
• Keep the windows clean
• Keep the driveway free of debris

Small things can make a big difference to someone on the fence about which home in the neighborhood will work best.

3. Embrace Flexibility in All Things

If you want to close when the market is slow, you need to show some flexibility. This isn’t just about pricing. Although, being flexible with the terms of sale can help a great deal.

If a potential buyer says they want something a certain way before they buy, then do what you can to make it happen. If you cannot, then come up with alternatives.

Offer deals, and go out of your way to see what’s possible and what isn’t. You may have to put in a little more legwork than you’re used to, but it will pay off for you in the end.

4. Keep Working On Your Business

Keep going to the office and working on your business. Take some time to do research, stay up with changes. See if you can find other paths to selling or earning funds.

The internet is your friend when things are slow. See what others are doing. You’re not the only one in a slump; another in your field may have some real relevant insight for you. If the slump took you by surprise, educating yourself a little can help you come up with a plan for the current one and future slumps to come.

5. Actively Seek Out Buyers

No matter what’s going on with the slow real estate market in your area, there are always potential buyers. If you typically sell residential homes to families, then consider other types of buyers.

For example, there are people who want places suitable to rent out, or people who make their money doing renovations and flips. Stay alert for the possibility of a sale outside of your normal circle of influence.

6. Consider a Commission Advancement

A commission advancement can give you access to cash before you close. These types of advances can make all the difference between keeping your business afloat when it’s slow, and you having to fold. A commission advance is not a loan, but rather a way to receive your cash early.

A commission advance can come in quite handy while you work on other aspects of your business during a slow buyer’s market. If you want to know more about how commission advances can work for you and your business, contact Premier Commission LLC today.

43% of buyers choose their property online, so participating in the digital revolution is no longer optional. There are a number of ways to participate in the e-commerce realty boom. By:

• Collecting and managing clients and properties online as a sole proprietorship.
• Crowdfunding property development.
• Hosting your real estate business online while your realtors work remotely.
• Flipping properties using online resources.
• Hosting auctions online.

The Information Age

Today property records are accessible by buyers and sellers alike in a matter of seconds, and an online real estate agent isn’t a necessary part of acquiring that information anymore. Since data is freely available, realtors can now work harder at translating that information in meaningful ways.

Technological breakthroughs have created a fully integrated selling experience. Every part of the process fits into the next like a puzzle piece, from outbound marketing to administration. Data analytics put incredible power into your hands, letting you see, at a glance, which areas are offering you the best returns, which you’re investing the most time in, and which property types are delivering peak success.

Web Platforms

Managing a business using online portals and the cloud is not only simpler, but more economical as well. No online real estate agent needs to limit themselves to a single geographic area. Virtual tours and online communication make it possible to snag clients shopping outside your zone. This has caused an acceleration in the industry in several ways.

• Teamwork is easy to control when office administrators can feed all assignments into a shared platform.
• Most tasks can be carried out remotely, limiting travel costs.
• All information and clientele are at your fingertips as long as you have a smartphone in reach.
• Comparisons between properties are easily achieved.

Development

If you’re an online real estate agent who previously lacked the funds to develop your own property, the internet has levelled the playing field. Pioneers in the industry are using crowdfunding to make their wildest development dreams a reality. Any realtor willing to put time into their campaigns can participate in commercial real estate markets that were once only accessible by large institutions.

Tools

Mobile applications give you a comprehensive list of properties in any area you enter. The cloud puts your files in reach from your phone. Your new contacts can be fed into an integrated client list the moment you connect with them. If there’s a task for which there is no application, you can develop or commission it yourself. Business management has never been more streamlined.

The Client-Led Realtor

Before clients could educate themselves about everything from financing to available properties from their own living rooms, it was the realtor who was in charge. The internet has changed that power balance. 99% of property buyers begin their search online, and they’re educated enough to play a proactive role in their house hunting. For those who are passionate about real estate, the internet has shifted focus to where it’s most interesting: on the property itself.

Looking for more information about online real estate agents? Contact us today at Premier Commission!

Ignorance is Not Bliss

Working with first time home buyers often means coping with a substantial case of Dunning-Kruger effect. The less they know, the more confident they are in their views. A novice buyer is often an unrealistic negotiator, offering absurd figures for prime property. When you’re trying to sell a house to a new buyer, you’re likely to lose sales on a string of homes due to unrealistic offers.

Solutions:

• When you’re working with first time home buyers, try to be as helpful as possible in informing them of their options without making decisions for them. If they want to make a lowball offer on a property, let them do so and learn from the process.
• Offer novice buyers material that they can use to educate themselves about the home buying process and your local market. Listings, investment analyses, and mortgage calculators are perfect for this.

Indecision

Working with first time home buyers comes with plenty of indecision, and if you’re not careful, you could lose a lot of valuable time to them.

• Go straight to the heart of the problem. Give them space to communicate how they feel and what’s causing their indecisiveness. Listen actively by telling them how you perceive what they’ve said. This ensures you’re both on the same page.
• Clarify their needs early on. Spend time digging into their dreams with the help of a buyer questionnaire form. Deal with any objections directly, managing expectations if they’re unreasonably high.
• Encourage a sense of urgency. The housing market is constantly in flux, so today’s prices are rarely tomorrow’s.
• Clarify their needs further by separating homes into niches. This way you can reduce the number of properties they view, cutting down on indecision simultaneously.

Third Party Opinions

Friends and family “advisers” are almost guaranteed when you’re working with first time home buyers because they feel unsure of themselves. Trusted reinforcements are usually brought into all realtor communication, amplifying confusion and increasing your workload.

Solutions:

• Don’t discuss client issues with, or carry messages to, third parties on your client’s behalf. Your loyalty should remain firmly with your client. If necessary, hold all discussions with the entire family in the same room so that client and parents can discuss issues directly with one another.

Most solutions to client relationship problems can be found by exercising a dash of empathy. Putting yourself in their shoes lets you puzzle out a solution that will work for them. If you’re struggling with novice buyers and need funding to carry you through to the sale, contact us.

Homes should be repainted so that only neutrals colors are used before selling.

This myth causes more home owners and realtors to change a look that could be not only acceptable but an advantage. Some rooms look better in a bolder or gentler color than something neutral. Instead of changing the room color, you can have other color options available for people to look at. Having a bid for repainting can also make it easier for potential buyers to feel they have options and know the cost beforehand.

Remodeling projects will pay off when the home sells.

Many people expect to get their money back when it comes time to sell their home. The important thing to know is that remodeling projects are just as likely to end up being a loss as a gain. If you or your client are going to be remodeling, make sure that you don’t do it just to sell the home. When you remodel, make sure that you have time to enjoy the rewards. It is recommended that a home be up-to-date before you put it on the market, but if updates haven’t been made already, it won’t be worth it just to sell the place.

Set a price that is higher than what you want to get so that there is room to haggle.

This real estate myth is one that most people accept as true, but there are a few things you have to consider when pricing a home. If you list the house at too high a price, people will not be interested in looking at it. The longer your house is on the market also lowers the number of viewers will get because your home will be seen as less desirable, even after you drop the price. If you live in a major city or area where housing is in demand, people tend to ask for less than what they expect to get knowing that they will get multiple bids, resulting in a higher final bid.

Going green will mean that you automatically get a higher list price.

This can be true, but you have to be really careful about how much more you ask for in relation to comparable homes. If you expect people to pay too much of a difference, they are more likely to go with a comparable home and do their own conversions if they really want an environmentally-friendly home.

Don’t have holiday decorations up when the house goes on the market.

This one might be true if it is summer, but at the end or beginning of a year, decoration that is well done can be a draw. While there may be some who object to Christmas decorations just on principal (whether religious or simple erring belief in this myth), there are many more who will feel that it makes the home cozier. It helps to give them an idea of what it will look like when it is their home.

If you have any other real estate myths you would like to ask about, or if you have any questions about our commission advance process, you can contact Premier Commission today.

Build a formula for success before you build a team

Even with the best real estate team on the planet, you will have trouble if you don’t have the resources you need for success. That is why it is critical that you have a system for success in place before you hire anybody. To this end, you must implement an effective onboarding/training system, lead generation/marketing system, contract management system and lead nurturing/client management system.

Start competing with your real estate rivals right now

No matter where you are located, yours won’t be the only real estate team in town. You will have to compete with other real estate organizations for business, and you should have a plan in place to make your team stand out. To this end, take a look at what your future competition is doing right now to succeed. Consider how you can emulate these traits, while avoiding the mistakes that they make. Also, you will need to define a brand for your team that stands out among your peers. You may be thinking that you outstanding service will create a brand for you, but that’s not how it will work, you will need to create a mission statement and a brand identity that makes it ostensibly clear what your team will be about.

Understand what your team members need to do to succeed

You’re bringing together a team of real estate professionals that you will lead. In order to effectively lead, you need to fully understand each person’s function. For example, if you’ve always been a seller’s agent, and you plan on adding buyer’s agents to your team, educate yourself about what goes into being a successful buyer’s agent. This will not only guide you to a better choice for who you bring onboard, but also allow you to lead them better.

Be a leader

You are learning how to build a real estate team so that you can grow your ability to succeed in the real estate industry; this won’t happen if you sit on your hands and assume that things will go the way that they are supposed to. No matter how seasoned your newly minted real estate team is, you cannot sit back and wait for things to happen after you’ve gotten everything together. You must be a leader who oversees everything that happens in your business.

Show trust, but never assume

You’ve hired real estate professionals to do a job, so let them do it. If you micromanage everything that happens, then you will make it difficult for people to have the flexibility to do their jobs, and you will be showing a lack of trust, which is critical for building a successful real estate team. However, you should still check up on things. You can do this by establishing an auditing system. For example, you should establish a metric system, and you can periodically ask your team members about how a task you delegated to them went.

Now that you know how to build a real estate team…

It’s time to get started. Make sure that you use the best approaches and resources for your real estate team. For more information about how real estate commission advances can help you succeed as an agent, or to apply for an advance today, contact us.

Advertising and Marketing Luxury Real Estate Properties

Luxury properties definitely have a target audience of affluent buyers, so expanding your advertising and marketing to several different areas is key in order to reach this small pool of potential buyers.  Advertising online, in print formats, and in other venues will greatly increase the number of people seeing the advertisement and therefore talking about it, sharing it, and spreading the word about the property.  A potential buyer may not be living in the immediate areas surrounding the property, so utilizing online advertising can help reach buyers that may live in other areas of the country or even the world.  The target audience for this type of property is going to be high-end buyers, so networking with people and companies that can help you reach this kind of audience can help you find a buyer more quickly.

Helping the Seller Set Realistic Goals for Selling Luxury Real Estate

It is your job to help your client set realistic goals when it comes to the selling price of their property and when the property is likely to sell.  An overpriced property is sure to stay on the market, and a client that is pushing to sell the property as quickly as possible may overlook important details that are crucial in the process of selling.  Because of this, agents need to be up-front with their clients and help them set realistic expectations for selling their home.  A sense of urgency can be off-putting to potential buyers who may want to take their time considering the property and it can certainly cause unnecessary tension between you and your client, ultimately drawing out the selling process.  Rushing can also make it difficult to ensure the property is enhanced for showing to potential buyers.  If the landscaping is messy or the arrangement of the house is not optimal, potential buyers will likely overlook the property and move on.

Helping the Client Explore Their Options

If a potential buyer is on the fence about purchasing the property, adding extra incentives can help “seal the deal” and move the selling process along more quickly.  Including appliances, furniture, or art pieces can be the incentive a potential buyer needs to make a final decision about purchasing a client’s property.  Also, a client might consider whether or not their property may be able to be sold as something other than a residential home.  Could the home be converted to a business or other type of building?  This may increase the likelihood of selling.

Whatever properties you are working to sell as a real estate agent, Premier Commission can help you manage your business and cash flow with a commission advance.  You no longer have to wait until closing to receive your commission, and Premier Commission can help you advance your business without waiting for a commission check.

Even with all of this hard work, a real estate agent’s payday isn’t weekly, or even biweekly.  Commissions are paid in the future, on the day of closing, which could be in a couple of weeks, a month, or much longer.  If you are wondering how quickly you can get your real estate commission?  The answer is, within 24 hours.  Agents are now able to get a commission advance from Premier Commission, and eliminate the financial strain of waiting for payday.

Premier Commission allows agents and brokers to receive their hard earned commissions almost immediately following the signing of the paperwork.  Premier Commission can assist with the cash flow needs of agents and brokers promptly and efficiently.  The process is uncomplicated and agents and brokers are able to continue managing their businesses unencumbered with financial delays.

No Restrictions

Premier Commission advances commissions across the United States on a wide range of real estate deals, including:

• Residential, Commercial, and Industrial Leases
• Residential, Commercial, and Industrial Resales
• New Home Sales
• New/Pre-Construction Condo Sales

Commissions can be advanced any time after the paperwork has been signed.  There are no minimum or maximum size commission advance restrictions.  There are no application or administrative fees, no wire fees, and no reserve holdbacks, generally required by other companies.  Brokers and agents can get advances on all numerous pending deals and advances can be repaid prior to closing without penalty.

Benefits

Cash flow difficulties can hamper your business management and growth as a real estate agent.  Debts that go unpaid incur penalties.  A commission advance can allow individuals to continue to invest and cultivate their business and finance marketing costs.  Business expenses can be paid and debts can be lowered.  Instead of putting current financial obligations on hold, agents and brokers are free to continue working for another commission opportunity. So, how quickly can I get my real estate commission?  Is tomorrow soon enough?  Apply online at premiercommission.com today.

As you can tell, there are several obvious differences in commercial and residential real estate. There are just as many approaches to selling both types of real estate. Choosing the wrong approach can leave you stressed out and your clients looking for another real estate agent, but choosing the right approach can increase your credibility and bring in new clients.

Tips on Selling Commercial Real Estate

You can’t always rely on a list of potential buyers when it comes to commercial real estate. When you are selling residential real estate, you may have some potential buyers that you can bring to the property or connect with other agents who may have buyers at the ready. Unfortunately, there isn’t always a network of people ready and looking to buy or lease retail or office space. Even though you aren’t working from a list of potential buyers, there are two things to remember:

• Residential real estate generally takes less time to sell than commercial properties. That doesn’t mean you have to be resigned to a slow start selling your commercial property. Just be prepared.
• Commercial real estate is still about building relationships, something it and residential real estate have in common. You have to build a relationship with clients and customers to sell the property in a timely and trustworthy manner.

Make sure you have enough money in reserve to weather any commercial selling draughts. You’ll definitely need some cash flow to get started selling commercial real estate, so be prepared. Some agents choose to obtain a real estate commission advance to help keep their finances on track.

Tips on Selling Residential Real Estate

With residential real estate, you can often depend on referrals to help you make that big sale. Referrals involve the client’s relatives and family. Typically, this gives you a foundation to generate leads.

Focus on personal use. Sometimes prospective customers can’t see the “big picture” when it comes to residential real estate. To make the sale, you must focus on showing them why the property fits their lifestyle.

In residential real estate, many agents decide to put all their hard work and energy into marketing and selling a property, but must wait until the closing date to receive their commissions. In some cases, you may need an advance to keep you going until that commission arrives.

There are big differences between selling commercial and residential real estate. As you sell more and more of each type of property, you should begin to understand the pros and cons of selling each and which type of real estate suits you best. In either case, Premier Commission is here to help you get your commission when you need it so you can keep selling.

Location: Where do you want to be licensed? Where do you think you are going to have the most success selling homes? Would you like to sell high end luxury homes in a competitive urban market? Or are you more to the tempo of relaxed, southern, suburban living? Or do you see big changes happening in the Great Plains states? You’re probably going to want to work where you live now or where you plan to move to, but make sure you know a thing or two about your location before you take the leap.

Learning: Once you’ve decided where then you need to figure what you need to do. How you become a real estate agent in California may be very different than how you do so in South Dakota. You need to contact your state’s real estate commission to figure the requirements for licensing and then start studying!

Brokerage: Another thing you’ll need the backing of once you have your licensing out of the way is a brokerage office to work from. If you see XYZ Brokerage in your town, and they have a need for agents, call them up and introduce yourself.

You will also want to know things like any further requirements for working at this brokerage, how long the brokerage has been in business, how long you will have to work before you can begin making money, and how this brokerage versus others generates leads.  It’s all about relationships in real estate; you need to be as comfortable with them as the agency is with you.

Licensure: Once you are licensed, there are going to be further tests and screening you’ll have to go through. You will have to take national exams, state exams, and any other requirements to work at the office you’re considering.

Agent/Realtor: If you are just looking for answers for how do you become a real estate agent, that’s one thing. If the office you’re working out of wants you to become a Realtor, that’s something else. You need to join the National Association of Realtors for the latter so make sure you know what you’re signing up for.

Clients: Once you’ve done all the prep work then it’s all about building a book of clients. Many times you will wait months or years to reap the fruit of a good lead.

Keep your expectations grounded, keep your attention sharp, and make sure you do everything you can to be the very best real estate agent you can be! Once you’ve become a licensed agent, keep Premier Commission in mind for those times when you could use some help with your cash flow. We’ve helped hundreds of agents across the US get their commissions without the hassle of waiting until the closing date. Call us today at 1-866-309-5582 for more information.