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.

To-Do Lists

Probably the single best way to keep track of your tasks and goals is to create to-do lists. Many agents recommend creating multiple lists for both short and long-term goals. First, create a one or five year plan that has all of the major goals you are working toward in a general sense. Frame it, put it up on the wall or just keep it somewhere where you can see it and be reminded of where you area headed. Next, create a to-do list for weekly tasks, things you need to check up on and errands you’ve been putting off. Lastly, create a daily to-do list that really nails down the tasks you need to take care of right now, today. When all of your daily tasks have been marked off, turn to your weekly list and see what you can get knocked out in your free time. Don’t forget to include family time and vacations on your to-do lists too!

Disconnect

For the sake of your sanity and mental health, take some time each day to disconnect from your phone, email and social media. Use a productivity app that rewards you for not wasting time, and set a timer for yourself. Whether it’s an hour or just thirty minutes, use this time to really focus on the most complicated tasks without any distractions and get as much done as possible. Staying organized on a day to day basis will ensure that you don’t waste this time tracking down information or trying to decide what needs to get done first.

Create Partnerships

You can’t be everywhere at once. Building a team of other agents and assistants in your area can help relieve the stress on you. Find partners with offset schedules, different availability, and located in different parts of town. Then when you have a client in need, you can refer them to your partners instead of having to make a long commute or cancelling family plans to make time for them. Splitting commissions with your partners is not such a bad deal if they are able to throw some business your way that falls within your normal work hours and gives you more flexibility throughout the week.

The key to maintaining a solid real estate agent work life balance is knowing what parts of your life are most important and how much time you want to spend on each one. By prioritizing your family alongside your work in your long term planning, you have the ability to check in on yourself and see how you are doing as you move down your to-do list each day. Working with other agents in the area will not only improve your real estate agent work life balance, but will also help them do the same. This mutually beneficial work relationship can help you reach a larger customer base and actually improve your income while reducing your work hours.

Premier Commission offers commission advances for agents who want to build their businesses. For more information about this useful cash flow tool, visit our website or call us today to speak to an agent.

How Instead Of Why

By time you are starting your first job at a real estate brokerage, you have spent lots of time in classrooms, studying and taking tests. All of that information is imperative to making real estate deals because you need to understand the rules and regulations that make deals happen. Unfortunately, all of that information only tells you why you have to do things a certain way, but it doesn’t teach you much about how to actually make things happen. A real estate mentor can help you learn the negotiating skills necessary to close deals, the marketing skills necessary to get your clients, and the time management skills to keep you from getting overwhelmed once the responsibility is on your shoulders.

Mutually Beneficial Partnerships

Building a good relationship with a real estate mentor now can be an invaluable way to create a lasting partnership for years to come. When you’re in a crunch and need advice or recommendations, you will have someone that you can count on to help you out. After you have made it on your own for a little while you may be able to give your mentor advice on new marketing strategies and tools that you have found useful on your own. No matter what the topic, sometimes it’s just nice to have somebody that you can share stories with and gain insight from on a personal level.

Learning Hard Lessons

Of course, the number one reason to take advantage of a real estate mentor opportunity is that you can learn from their mistakes without having to make them on your own. If your real estate mentor has been in the business a long time, they will be able to give you a cut and dry rundown of what to expect once you are on your own. Everything from market changes, unruly clients, legal battles, pay and more is on the table. An experienced mentor will be able to answer your questions without overselling the job because they know what it’s like to really be out in the field.

Most large real estate agencies have some form of mentorship already built into their structure. They want you to get started with the best available information and tools they have, and that means letting you learn from their top agents. If you aren’t working for an agency that has already made this a priority, it never hurts to ask a local agent to be your real estate mentor. Many of them remember what it was like in the beginning, and they will be happy to help you out or can point you in the direction of someone that they believe is highly qualified to mentor you. Either way, taking the time to get familiar with a real estate mentor in your area will provide you invaluable knowledge and experience that you would never be able to get in a traditional classroom environment alone.

For more information about getting started on your real estate journey with a commission advance from Premier Commission, visit us online or call today at 1-866-309-5582. We are here to help real estate agents build their businesses by giving them the tools they need to succeed today.

To-Do Lists

Probably the single best way to keep track of your tasks and goals is to create to-do lists. Many agents recommend creating multiple lists for both short and long-term goals. First, create a one or five year plan that has all of the major goals you are working toward in a general sense. Frame it, put it up on the wall or just keep it somewhere where you can see it and be reminded of where you area headed. Next, create a to-do list for weekly tasks, things you need to check up on and errands you’ve been putting off. Lastly, create a daily to-do list that really nails down the tasks you need to take care of right now, today. When all of your daily tasks have been marked off, turn to your weekly list and see what you can get knocked out in your free time. Don’t forget to include family time and vacations on your to-do lists too!

Disconnect

For the sake of your sanity and mental health, take some time each day to disconnect from your phone, email and social media. Use a productivity app that rewards you for not wasting time, and set a timer for yourself. Whether it’s an hour or just thirty minutes, use this time to really focus on the most complicated tasks without any distractions and get as much done as possible. Staying organized on a day to day basis will ensure that you don’t waste this time tracking down information or trying to decide what needs to get done first.

Create Partnerships

You can’t be everywhere at once. Building a team of other agents and assistants in your area can help relieve the stress on you. Find partners with offset schedules, different availability, and located in different parts of town. Then when you have a client in need, you can refer them to your partners instead of having to make a long commute or cancelling family plans to make time for them. Splitting commissions with your partners is not such a bad deal if they are able to throw some business your way that falls within your normal work hours and gives you more flexibility throughout the week.

The key to maintaining a solid real estate agent work life balance is knowing what parts of your life are most important and how much time you want to spend on each one. By prioritizing your family alongside your work in your long term planning, you have the ability to check in on yourself and see how you are doing as you move down your to-do list each day. Working with other agents in the area will not only improve your real estate agent work life balance, but will also help them do the same. This mutually beneficial work relationship can help you reach a larger customer base and actually improve your income while reducing your work hours.

Premier Commission offers commission advances for agents who want to build their businesses. For more information about this useful cash flow tool, visit our website or call us today to speak to an agent.

Learn about what types of properties exist in your local market

You know that one of the most important factors that affects the value of a property is the building that sits on it. The more rooms, square feet, amenities, etc. that a building has, the more valuable the real estate itself will be.

Relatively subtle shifts in building design can cause significant changes in a property’s value (in certain markets, an extra bathroom can make a home worth tens of thousands of dollars more than an otherwise identical home). That’s why in order to become a local real estate expert, you’ve got to learn about what types of buildings stand on every street.

Accept the fact that you don’t know everything

The biggest key to becoming a real estate expert in your local area is to never assume that you know everything. This is because the market conditions in your neighborhood can change significantly thanks to a single property transaction.

This means that you’re going to have to constantly watch the market very closely. Pay attention to trends in asking prices. Also keep an eye out for purchase anomalies, because these can impact the market value for every piece of property in the neighborhood.

Become a part of the community

Understanding your local real estate market will require you to constantly have your ear to the ground. This is because a real estate market can be whimsical; if you want to turn yourself into a true expert of your market, you must understand where it is headed in real time.

When you’re engaged with the local community, you’ll have an opportunity to hear about the latest trends and sentiments in the local real estate market.

Build business relationships

Your local real estate market has two components: residential and commercial. You’ll gain an edge in both by having connections to local businesses. This is for a couple of reasons.

First of all, local businesses make commercial real estate moves all of the time. If you’ve built connections with these businesses, who do you think they’re going to call to discuss their real estate options first?

Second, local businesses are run by real people. People are most likely to work with those who they trust — especially for a decision as big as buying a new home. This means that you’ll likely be privy to lots of info before any other ears in the market hear about it.

Don’t ignore your competition

Although real estate is a competitive industry, you can’t afford to completely separate yourself from every other real estate agent in the market. Other agents will often throw you tips if they aren’t able to take on an opportunity. Also, some of your biggest opportunities will come by way of other agents, since many buyers and sellers rely on agents to find that perfect deal.

Are you a local real estate expert?

Remember that no matter how much you know about your local real estate market today, it won’t matter next week. In order to be a true expert of your market, you’ve got to constantly keep yourself ahead of the curve. The only way to do this is to build connections and keep learning as much as you can about your community.

Looking to stand out from the crowd when it comes to your local real estate marketing? Premier Commission offers commission advances so you can get the cash you need to keep your business running smoothly and market yourself as a knowledgeable agent. Contact us today to learn more!

Always Address the Issue

When you first see a negative comment about your services, it can make you cringe. You may not be willing to acknowledge the comment at all, hoping it fades into the background of the internet over time. However, studies show that customers want to see that you are actively engaged in fixing problems. In fact, most customers admit that they don’t expect you to be perfect, all they expect is that you are willing to try to make things better when something goes wrong. By addressing the comment directly and swiftly, you will show potential clients that you are dedicated to good customer service even after the deal has been signed.

Know When to Take It Offline

If you have decided that it’s time to address one of these negative real estate agent review posts, you need to do so in a calm way. Don’t start an argument or get defensive. Offer to meet with them or speak with them on the phone to get more information about why they are unhappy. Protect their privacy and your own by taking the discussion offline to be handled elsewhere. In some cases, this is enough to convince the client to update their post or remove it completely once they have your attention.

Post Your Own Update

Once the issue has been resolved to the best of your ability, post your own update under their real estate agent review. Explain simply what happened, where the error was, methenolone enanthate bodybuilding and what you did to help them fix it. Don’t shy away from owning up to your mistakes. Seeing that you learned from your mistakes and that you will do better in the future makes you relatable and builds confidence in your clients.

You Can’t Win Every Battle

The reality is that buying a house is a stressful situation that can have a huge impact on a person’s life and finances. The stress of the situation is enough to set some people on edge and make them inconsolable no matter what you say or do. It can also make them cast blame upon you even for situations that are completely beyond your control. If a client is not willing to work with you at all to resolve an issue, the best you can do is explain your understanding of what happened and bow out of the conversation before it escalates any further, but not until you have tried to make it better.

Responding to any negative real estate agent review is a difficult task. It requires patience and understanding, but if you are able to reach a positive resolution, you are likely to gain even more positive praise from customers who now see that you are willing to go above and beyond to keep them happy. A negative real estate agent review can turn positive overnight by simply reaching out.

Premier Commission provides commission advances for growing real estate agent businesses. Visit us online or call today to see how we can help you reach your goals.

Skip the Consultations

In the past, new home buyers and sellers wanted to vet their real estate broker through traditional means. That meant sitting down and having a heart to heart discussion, asking lots of questions and generally conducting an interview to determine whether or not you are the right fit for their needs. This was a time consuming process that may or may not have actually turned into any real money in the end. Today, Instagram allows you to post pictures of you, your work and other activities. You can show potential customers snapshots of your life and give them direct insight into who you are and what you’re all about. People will follow you because they like what you are sharing and they will feel like they have a personal connection to your life before ever meeting you. When it comes time for them to buy, they may skip the interview phase altogether because they are already confident that they know what you can do for them.

Showcase Features

The problem with many real estate listings, and real estate photography in general, is that there are a limited number of photos that can be connected to any single ad. The photographer is forced to capture pictures of the home that show every room and the exterior in an unexciting way without going into too much detail about any special features. Using Instagram for real estate allows you to create artistic photos of the same property that focus on the things people love most. Special kitchen upgrades, gorgeous landscaping and beautiful master suites are features that people want to see in detail. Capture the light coming through the living room window and reflecting off the chandelier. Share the birds sitting on the back deck railing overlooking a garden. People want to experience the house, not just see how big the room is from the doorway!

Broadcast Yourself

One of the best features of Instagram for real estate is that it is a social media platform that already plays well with all of your other marketing efforts. Not only can you post your pictures to Instagram for your followers, but you also have the ability to push those photos directly to Facebook, Twitter and other outlets with a single button. This saves you from having to go to each site individually and make separate posts.

Using Instagram for real estate is a great way to show off amazing properties and connect with people. Creating visual interactions with potential buyers will get them comfortable with the way you do business and make them want to reach out to you when they are ready to buy. You will have instantaneous feedback on your posts so you can see what buyers want to see more of, and you will have the ability to communicate directly with those buyers and transition them toward face-to-face meetings very quickly.

Are you a real estate agent looking to improve your cash flow and experiment with new marketing techniques? Premier Commission provides advance commissions agents. Contact us at 1-866-309-5582 with any questions, or apply for your commission advance today!

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.

Enable GPS

One simple but effective way to ensure your safety during the workday is to enable the GPS locator on your phone. Apps like Glympse give your loved one or employer real-time GPS tracking based on your phone’s location. These apps can be enabled anytime you are going out with a client and end as soon as you get back. While you never expect a safety issue, a GPS enabled app can provide added protection during a normal workday.

Be Social but Safe

Real estate can seem like an all-encompassing profession. You work weekends, holidays, and may be on call at all hours of the day. Blurring the lines of home and business can be difficult when your career truly becomes your life. Often, real estate agents compromise their safety by giving too much personal information to their clients, such as their home number or address. While real estate agents need to be social, they also need to be cautious. If you wouldn’t give information to someone you met at a bar, you shouldn’t give it to clients. Maintain a separate company phone and keep your address private.

Meet First-Time Clients at the Office

Most clients want to get right to the house hunting but one real estate agent safety tip that should never be ignored is for agents to meet first-time clients at their place of business. Meeting clients in a neutral and safe location allows you to not only meet your client and determine if you feel comfortable going to look at houses alone but also allows your co-workers and managers to see the client. This builds a level of trust so you can forge a closer relationship while maintaining your own safety.

Maintain a Record of Client IDs

Most real estate agencies require contracts before showings and this is also the perfect time to employ a real estate agent safety tactic of getting identification from each client. Ask for a driver’s license or other form of photographic identification and make a copy for your own records. This information can be a literal life-saver if you feel threatened or unsafe in the future due to that client. Make sure your boss or co-worker is aware of this file.

Trust Yourself

Becoming a great real estate agent takes a certain kind of person. They need to be hard-working, dependable, and extroverted. They need to love talking to clients and helping people find the house of their dreams. It goes hand in hand that great real estate agents are also better judges of characters than most people because they are so finely attuned to the people around them. To that end, if you don’t feel comfortable around a client, trust that instinct. Never accept a client who makes you feel uneasy and never go out alone with a client who you do not trust. Go with your instincts.

Real estate agent safety shouldn’t be an afterthought. It needs to be at the forefront of your mind every day and in every encounter. Building in some safeguards such as meeting first-time clients at your business and enabling GPS tracking before every showing are just a few ways you can keep safe and have fun in your real estate career.

For more tips on how to be a successful and safe real estate agent, stay tuned to the Premier Commission Blog! To learn more about our commission advance services, feel free to contact us with your questions.