Real Market Matters

Kelly McCormick, Broker, CRS,  SRES |  Kelly is a Broker and real estate sales expert with Berkshire Hathaway HomeServices Professional Realty in Beavercreek, Ohio. Experience matters - Industy Leader for 28 years

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Tips on obtaining reviews

What are people saying about you or your company? Tracking and taking charge of testimonials is not only important it's imperative.  In real estate, depending on reviews is codependent on the customer experience.  Consider these services or recommendations:  

Social Survey

After the sale, this program provides a rating from 1-5 for reviewing services.  https://www.socialsurvey.com/

Facebook reviews

Facebook page reviews are dynamite, check them out, and if you're not using this great resource, start now using what everyone is looking at every day.

LinkedIn

It is so easy to ask for Linkedin recommendations; here is a great info link on setting that up.  LinkedIn recommendations

Realtor.com

If real estate is your ‘thing’ (like mine), never overlook realtor.com reviews. That may take some reminding of your past clients, but it’s worth the trouble because the reviews are an excellent arsenal for reviews your online presence.  And - they stick around on subscriptions real estate sites for a long time. 

The local chamber of commerce

Join your local chamber and link to there business links send messages to fellow chamber members asking them to review your services.  Now, it's recommended to become known at chamber events too. Create a business card that says, please consider my services or community participation on LinkedIn. That may work!

Unique review areas

Participate in the reviews of services, using your business name in the discussion. This tip gets our name out there within a branded service or restaurant, and provides name recognition, especially if the reviews are locally (your town or neighborhood) located.

Social Media

It's not saying too much of a known thing to nail down the social media mentions.  Ask your friends and family to comment on anything posted on a personal page or a business page that promotes you or your services. 

Just ask a few compatriots to do the favor on an ongoing basis. Most who care for your successes will not be hesitant and happy to help.

About the Author: Kelly McCormick is a Realtor and Broker with BHHS Professional Realty in the Dayton, Ohio area.  She is the Broker of the year 2019/2020 for the Dayton Board of Realtors and has been a career agent for 28 years. Kelly can be reached at [email protected]

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BEFORE YOU CLOSE

Keep track of your home sale details.

By kelly mccormick, Broker with BHHS Professional Realty, REALTOR®

Every real estate transaction, regardless of the complexity, requires a myriad of documentation. When working through the contract timeframe there are a few things to keep in mind. First and foremost, examining the final details and information before closing will save you time, worry and stress later on. Not to forget it feels pretty bad when money unexpectedly flies out of the wallet after getting caught up in a difficult situation, or a costly repair after closing just because the information is missing when the sale closes.  

1. Review every signed document that is part of the contract process. Ensure a readable copy of all agreements to sell or list a property is safely tucked into a folder, and any folder will due, digital or paper.

2. A seller, buyer and seller's agent and buyer’s agent will want to look at each page of any disclosures. Check docs for signatures and initials by all parties before a property is pending. If something is missing - correct it right away. 

3. A buyer and buyer's agent should always look over any agreements for home repairs or replacements. Acquire the supporting documents before a buyer's final walk through. If a buyer wishes to have a re-inspection on a specific repair, include the repair results with all of the receipts in a closing file.

4. Review all communication. Never hesitate during a property sale to over-provide information to a buyer or a seller if requested. Sellers are recommended to notify a buyer in writing when any public notices are received during their ownership and even while under contract. That includes HOA notices and public authority notices. Keep good notes on any transaction.

5. Truthfulness and accuracy is a must when completing a Residential Property Disclosure (RPD).  Real estate agents are not supposed to assist in the completion of an RPD; however, they can advise clients to be very accurate when completing disclosures, a buyer and a buyer's agent should pay very close attention to each section and detail. Tip: Take the document to the inspection, and give a copy to the home inspector.

Expressing an Opinion Blog, by Kelly McCormick, Ohio licensed Realtor

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“I will forever believe that buying a home is a great investment. Why? Because you can’t live in a stock certificate. You can’t live in a mutual fund” ― Oprah Winfrey

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Real Estate Business Planning - Triggering ideas and time blocking

For real estate agents

The discovery of new business is the difficult for any agent, especially a new agent, while experienced agents understand that new leads are the ice cream of the RE business. Learn to turn time into leads by time-blocking for new business activities. Beginning a new career in real estate, or plan to revamp this year’s business approach, either way, This is a perfect time to put together the plan.  By taking this last quarter to reflect on a year's successes or shortcomings, is sure to provide benefiting information that is vital to business planning. So take a look back - Go ahead it won't hurt (maybe a little). Looking things over is empowering. Let the ideas flow.

5 Put a great plan together

01 Rearview Mirror – Analyse all of the sources of sales, clients, leads, passive activities, and aggressive actions that provided commissions and exposure this year. Before putting pen to paper, ask a few questions.

Where did my business come from this year?

Did I receive company leads?

How many sales were from the sign or repeat customers?

What were the sources of unexpected referral business?

Did I use my company tools to save marketing dollars?

These questions will help you reflect and come up with a strategy. The steps of asking yourself questions saves time and provides clarity for moving on to success. Here is a good book recommendation.

Atomic Habits is an excellent book by James clear to read this month. Easily found on Amazon. 

02 Research -  Luckily, real estate agents have access to accurate, up-to-date MLS sales data that provides an array of useful information. Successful agents know it’s essential to understand the pool of sales talent in their targeted areas.  Vetting out the company, or agents who dominate a market or even a specific neighborhood helps to make wise marketing and planning choices for farming and Geo-mailing.  Looking to consider a broader range of statistics, look no further than the National Association of Realtors, where accurate US home sales data is readily available. These useful reports include anything from Housing Statistics and Affordability to Pending Sales in 2019 plus so much more.  

03 Define The Supporters - Consider your familiarity ques to determine a targeted sphere of influence.  These lead sources are great for biz planning, and plant the seeds for database growing.  Sometimes familiar places or people easily overlooked; for instance, agents who need talented assistance in the office for support and back up. Providing support to lead agents can prove value and equal RE income.  Also, consider these five areas of database fillers for next year’s marketing plans.  

Find the support - closest to home, and add those people can relate to your business quickly.  

Tackle the people fear - Friends & family are tricky, approach this group at an angle, by taking every opportunity to speak positively about the career of RE.  I call this group YOUR 'Glad-Handler' group - Why? Because they get all your FREE Stuff.

Connect with people - who know the glad handlers. Sometimes even better than the friends & family group because they cost nothing,

New Business – All new business is from leads, luck, open houses, church, school, community network, well-placed ads, and spouses' job.

04 Ask for a Report Card  - It can provide a valuable perspective for a new year of business planning. Ask a friend to grade YOUR real estate performance from the consumer’s perspective.  

05 Time Blocking - Look at the marketing dollars, and income needs to be projected in the business plan, then describe the perfect real estate day.  That day most likely includes a closing or two! Am I right? Agents who devote energy to the days that do not include other distractions will start filling time with income-producing actions.  Make it a plan and time blick like it's the “Golden Rule”.

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Appraisals and home selling road bumps

When homes sell most likely we have pretty happy people involved. Both Buyer and Seller should be pleased, often times lenders are involved and then yes the real estate agents are feeling pretty pleased too. And why not, linking a buyer and seller together is our job - a job well done in this example. The bump in the road often comes from an unforeseen detail, called the appraisal. This small detail could easily kill the deal for everyone, should the process and  the resulting potential consequences be overlooked. According to the the Ohio Association of Realtors, Legal Services Division there is a lot that can be done early in the process. Realtors may provide factual information to an appariser or answer an appraiser’s questions regarding the subject property in a timely fashion. This information may include a sursvey of the property, the Residential Property Disclosure form, neighborhood information and recent comparables. According to Lorie Garland, Assistant Vice President of Legal Services/OAR, concerned parties to the sale may provide public information to the appraiser before the appraisal process begins.

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Volume one, take two – Who do you, know?

Same old story right, well maybe not. Today’s everyday Realtor thinks about improving business, contact marketing, meeting buyers and selling listings. The rules for selling and building a business have not changed much over the years,  but the way our business has evolved into Who do you know, has.  As of 2019 there are over 2.38 billion Facebook users, LinkedIn has blossomed to over 500 million, Twitter 330 Million daily users and Pinterest tripped into the social media enclave with almost 250 million log in users a day. This is a virtual landslide for Realtors. A savvy agent uses social media with inventive ways to add content, video, engage, and bring value and awareness for those influencers through storytelling and interest sharing.

There is a theory from the 1960s that most of us have heard; there is “6 degrees of separation” between you and the person you want to meet. Facebook is an incredible example of how networks form and how they work to bring people together. Using a media street corner to create and build relationships through the type of content and the quality of information will help to bring in new followers and potential new customers to your business. Try to get your followers to post into your page positive results of home sales or advice given to them by you. This is a powerful use of networking.

If you’re in the business of connecting claiming social media is not going away, I fact if there is a tip this is the iceberg for sure. I love Pinterest for pinning up home design ideas just like a bulletin board above your computer - sharing interesting photos/links of kitchens, décor and home designs that may interest your groups, and show case my interest and knowledge. Try it, followers will soon value your insight and interesting pins – if only 6 degrees separate us from a person we want to know, less separates us from those connected with our friends, family and clients.  Get started building social networks and engage in a fun and interesting way that to tells your story, and brings insight to others. Did I mention the cost? FREE.    

Credits: Statistics from Goggle.com and 6 Degrees of Separation from ABC News Storyn and recent google stats.

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Throw out the cabbage

Is your real estate business costing you too much money?  

Last week I was cleaning out my refrigerator and threw out a head of cabbage, when I tossed it I thought, why do I keep buying cabbage, just to throw it out week after week? Honestly, that thought stopped me in my tracks. How many other ways do I waste money without notice, am I overlooking bad habits by not analyzing expenses that are coming out of my checking account without notice each month.

These expenses, even when small add up over a year and may not be paying off like I had intended the day I agreed to pay. Here are a few guidelines I have used in my career and recently put back into play myself once I realized I was wasting money.

Assess all automatic expenses by looking closely at your home and business account monthly. Review a 30-day bank period, looking for auto-deducts.Decide what is important to you and cancel everything else. 

Choose three real estate marketing tools or ideas to implement for one year, put them into effect. Then if you receive a tempting telemarketing call simply say, “thanks but I have made my marketing choices for this year, check back next year”, this will work like a charm.

Each year determine to make October your month for business expense reevaluation. Look to see if the marketing tools, lead management, and advertising you have selected are paying off.

Remember when it comes to real estate marketing expenses, think outside the box, because a “pay-off” sometimes is indirect to your marketing, such as advertising may be intended for a Buyer but the Seller is happy to see you have an advertising plan for their home.

My advice this month is to throw out your “cabbage” and do not replace it unless you know for sure that you are going to use it. Just makes sense. 

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Potential. Power. Possibilities.

K Note ~ by Kelly McCormick

One foundation for a good real estate business is marketing past clients another is building up the future by developing followers who appreciate expertise, knowledge and information provided in an ongoing fashion.  How do you find the followers? Develop a FARM. The idea of "farming" a neighborhood is still a very important business method. Highly successful agents claim that "farming" is one of the most important developed skills a successful real estate agent can acquire for a great business.  

At a Prudential One, Realtors training class in Beavercreek Ohio, Colin Campbell said, "Staying in touch with past clients as well as procuring new business around an area of expertise is one of the most important business practices a agent will cultivate". 

The task of building fertile soil for farming an area and cultivating future real estate fields requires a much more tech savvy ability than even 2 years ago. The good news is that once the effort and groundwork is in place the results pay off for a long time. Farming is a good “old” method for acquiring real estate business, but the method must be updated to suit today’s “new” consumer. Consider a new approach and stick with it for a year to see how it pans out. Here are a few creative ideas for cultivating an area of expertise:

Post home enhancement ideas on Facebook, create lists of people to target.

Post resources and market opinions on Twitter •Send  eCards as client outreach efforts.

Read about some of the newest resources available for online social media, try something new.

Hold open house on streets that have had recent sales • Update or purchase a website.

Send out eNewsletters quarterly to a define neighborhood. 

Mail Just listed/sold cards that include YOUR farm. 

Send the old fashioned handwritten note when you meet someone that you have a connection with.

An article in the Inman News talks about a new social media website called meetup.com, this site is like an online town hall that is designed for developing areas of interest and finding followers for targeted neighborhoods or cities.   Explore meetup.com and see if there relevance to real estate and farming that may provide new tools and an online resource for future business contacts.

No matter the approach – be consistent and professional. Check spelling and grammar, use good photo quality and appropriate references. Design an online farming campaign, the automation will free-up time for meeting potential clients. Check out other websites and dive into the business head first! 

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Property Not Selling?

Build up your listings using Words and Photos..................................

Ughh - You are an agent and you listed a home 4 months ago and it is not being shown. You are a home seller and think you have a nice marketable home, but there are no showings. What's wrong?  The economy, the news, statistics for home sales down, too many homes on the market - maybe any one of these is the culprit. What to do? There could be an easy solution for the agent who wants to beef up their showing business. Much easier than reducing the price. Just blurt it out a little - the words I mean. 

Multiple Listing Service (MLS) marketing remarks and photos - A key that needs to be turned before your homes sell, are plenty of current photos and updated marketing remarks. Upon checking with the Dayton Area Multiple Listing Service (MLS), 1,000 characters are possible to describe your client's home. The description is like the curtains on a window. If there is not enough being said to describe the home you (as a Realtor) have marketed for the public to see, then how in the world can any buyer conjure up a vision that would create a desire to see the home.

A picture is only worth a 1000 words - Photos alone are not the driving force of a well marketed property. Well written marketing remarks can and should tell the facts in descriptive format of the home that would create a solid visual picture of what a buyer is looking for. State the facts not fluff. If the house only has a slab, don't hide that fact, focus on the positive attributes, and investigate what the current owners felt when they decided to buy or build the property. Even a property on a busy street can be attractive to a particular buyer - someone from a busy city, or looking for a lower priced home in their desirable community for instance. Concerned about your word choices, ask another agent to read your marketing comments, better yet - shoot a copy to your sellers for their input. Make these comments work hard for the sale of your listing. Your sellers will appreciate your efforts above all else. 

Short Sales and Foreclosures - Still information is required and appreciated by all looking at these houses. Even a distressed property deserves some information. There are plenty of investors out there that understand the words 'distressed sale' or 'sold as is'. The process it takes to get these homes sold,  and the public that wants to see a sold sign go up on the street, deserve as much as you can say about the property on-line. State the facts in a way that captures interest.

Your local MLS determines the number of characters you can use to describe a property. Some MLS areas allow much less in the form of descriptive words - so for these areas every word does count. Use them up and hopefully your details will make a difference.

Impressions are worth a 1000 words - Does it matter how a Realtor looks to the public? My guess is a resounding YES. Agents who look at all of their properties, and consider how they look to the public can gain business just by showing their unique ability to market a home no matter the price tag. You can gain the trust of a curious seller when they look at your listing inventory. Remember, everyone is watching you and the opposite holds true. Just the other day I placed a lovely home on the market and a neighbor called within hours of the property going 'active' to tell me that the address was one number off! Yes - they are watching.  

Use every 'word' you can to describe and sell a home in today's highly visible real estate market, use that very visibility to grow your confidence and your prominence one house at a time. Words and Photos abound - this is basic Real Estate 101.  

Write it - they will come. Kelly Mc

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If you want to build a ship, don’t drum up people to collect wood and don’t assign them tasks and work, but rather teach them to long for the endless immensity of the sea.

Antoine de Saint-Exupery