Real estate brokers have been offering a wide range of financial advice, but there is one key piece of advice that every real estate agent should know and implement: “Be prepared to lose.”
“If you’re not prepared to take a loss, your sales pitch won’t work,” said Joe Hennessey, managing director of Real Estate Capital.
“There’s nothing like losing to drive sales.
It’s one of the hardest things to do.
You want to make sure you’re ready to lose.
It should be an issue every time.”
Hennesse said that if you have any doubt about the value of your property, you should do some research and check the market price of your home, then compare it to that market price.
If the market is lower than what you paid, then you need to look at your property again.
Real estate agents should also pay close attention to the properties on the market.
“You don’t want to lose your credibility as a real estate broker,” said Hennes, adding that if the price of a property drops, that means the seller’s business is in jeopardy.
If you’re trying to sell a property that you have already sold, Hennes said, it’s best to have your broker call you or email you directly.
“Don’t send your broker a call asking for the price,” he said.
“Instead, ask for your broker to check the local market and get an estimate.
Don’t send them an email asking for a quote and then not getting a quote.”
Hnessey said that he has heard of real estate agents getting into trouble for calling up properties for sale that they had no idea they had sold.
He also said that it’s important to make certain you are talking to the right person at the right time.
“Ask your broker, ‘Is there a broker who’s been selling your property for you?’
If there’s no answer, the agent should be called,” Hennesay said.
When you’re looking for a home, “make sure you find a broker that has a good reputation,” Hnesse said.
He advises against trying to talk to real estate sales agents in a hurry.
“I tell my clients to keep it short and sweet.
It can be confusing when you see an agent on the phone,” he advised.
“They can say, ‘We have a lot of interest in this property, but we can’t sell it.’
The more you’re asking, the more likely you are to be told no. “
It’s not worth it.
The more you’re asking, the more likely you are to be told no.
I advise against making a sale and waiting for it to sell,” Henssey said.
Hennes and Hennes of Real Resale Capital recommend that real estate professionals look for agents who are “very professional and knowledgeable.”
Real estate broker Michael J. Wasser has worked in the real estate industry for over 20 years and is the president of RealResort.com.
“The most important thing to do is to understand the market,” he told CBS News.
“Be aware of the price.
And the more you understand the price, the less likely you’re to be turned away.”
RealResorts also has a video series on the topic, “Buy Now, Sell Later,” which can be viewed on Real Resorts’ YouTube channel.
Wesson said that realtor and real estate brokers are not always able to be on the same page about their market value, so he and his team at Real Resort work to understand their markets.
“Real Estate agents, they’re not always on the scene,” he explained.
“But if they are, they can offer a more informed and accurate market valuation.”
Hernes and Wasser also said it’s a good idea to find an agent that has extensive experience in the industry, as well as being familiar with local real estate market conditions.
“Once you have that understanding, then when you come to the realtor, it becomes easier,” Herns said.