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Mark Reister…,  in Kalamazoo, MI

Frustrated Realtor! Looking for new ways to find buyers in a buyer dominated market. Help!

Asked by Mark Reisterer, Kalamazoo, MI Tue Nov 18, 2008

Any advice or ideas or thoughts would be appreciated. I love being a Realtor but having trouble supporing my family and making a living.

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11
I know this post is years old...but did you have any luck and if you did what worked for you?
0 votes Thank Flag Link Sat Mar 12, 2011
Dear Frustrated Realtor,

I just may have a ray of hope. Do you sell properties where the seller carries back some or all the financing? or do you have any cients who would have preferred to have gotten their cash up front as oppose to over time. if you said yes to either one of these questions, I can help in these situations. What I and my husband do is help people get cash now for future payments. If you have any clients that fit this description, please forward my name and email. I look forward to hearing your response.

Best Wishes
Mr. and Mrs. Jefferson
Note Brokers/Chicago IL
0 votes Thank Flag Link Thu Mar 10, 2011
good morning mark.....if you happen to have a list of all the contacts you have made of potential buyers that were denied mortgage approval.....please forward them to me....we have the ability to close many loans (even tough fha deals) that other lenders cannot close....many, many of my past clients have been denied by other lenders....the ones we can get pre-approved, i will steeer right back to you to go shoppping for a home.....we do low and higher risk fha...and are a direct lender.....also, push the $7,500 federal tax credit to all of your potential first time buyers..anyone that has not been a homeowner in the past three years can take advantage of it...i have a webpage and a link on my website explaining the program....i hope that helps...bob mcclure- mortgage now- farmington, michigan....
0 votes Thank Flag Link Fri Nov 21, 2008
Mark, you have been given some wonderful responses! I think its obvious that our Realtor community really cares about each others well being! I can add a few things to the mix. Like many of the other agents I think listings are key....contact expired listings consistently. Pick how often you want to do this (once a week, once a month, each day, etc) and do it consistently! Expired listings are some of my favorite sellers to work with. The ones who are responding to your contact are really wanting the help of professional, they want to know what it is going to take to sell their house and not just list it, they are ready for honesty. It is always good to ask these people what the most frustrating part of their first listing experience was so you can focus on that as well.
My other idea would be to sign up with BPO companies, if you are qualifed. This keeps you very in touch with your market values. When you are constantly preparing opinions of value for lenders you keep your pulse on the market. This has also given me the opportunity to see many of the foreclosed homes before they make it to the market and allows me an edge! When it becomes available I can tell my clients all about it because I have been inside already and can offer opinions on the condition, value, location, etc. If you would like some ideas of what BPO companies to sign up with email me and I'm happy to help.
I also agree with the social networking sites and blogging...these are not trends and you need to be doing them now! To me real estate is about consistenly doing the right things. I actually blogged about this topic and you can go to http://sonyaann.featuredblog.com/?p=30 to read it if you'd like.
It's obvious you like what you do and want to succeed or you wouldn't be asking us for advice. I wish you the best of success!
0 votes Thank Flag Link Wed Nov 19, 2008
Focus your advertising. We track the source of every buyer that actually purchases and the shift in the last two years has been astonishing. in 2006, a large majority of our buyers came through print ads such as trade magazines, newpapers and real estate buyers guides. This year, only 9% of our firm's buyers came through print.

Most agents are still directing a ton of resources towards the old standards of real estate advertising like newspapers and buyers guides. Save those dollars and put them towards a website that offers more information that is helpful to the buying process.

The other huge key we've found is to use communicate with buyers through the internet just as you would in a face to face conversation. So often agents will simply answer a request for information by sending along just the information requested with a note to call them if they have other questions. Phrase the e-mail as if you were talking to them direclty. Ask questions as if you're having a conversation or suggest an alternative property that may be in similar whether it is your listing or not. They key is to use the internet to build a client relationship, not just to answer a question. If you're the firs agent out of the 10 or 15 they've contacted to offer some actual sage advice they cannont get online, they may choose to be loyal to you as a buyer's agent.

By reducing your advertising costs in print and focusing on the most used venue for buyers, the internet, you should be able to be more profitable even at the sames sales totals.
0 votes Thank Flag Link Wed Nov 19, 2008
Hi Mark,
Continue blogging and answer the questions the buyers and the sellers ask. As an expert in your community they will find you and request your assistance to find a home or to sale one.
Also, I suggest giving your card out to everyone and ask for the business. If you talk to enough people sooner or later somebody will know of someone. I always wear my name tag, you should too.
Don't forget to call your sphere of influence. You already have a rapport with them. More than anything know your market.
I hope this helps you.

Rose Simms
Novi / Northville Market Center
Keller Williams Realty
Web Reference: http://www.rosesimms.com
0 votes Thank Flag Link Tue Nov 18, 2008
Hi Mark, The biggest market out there is first time homebuyers. (Renters)How do you get to them? They are inside the apartment buildings and Non Owner occupied homes. I would go to the apparment Manager and ask for permission to leave some information on the common areas.( Laundry Rooms)
also I would get a list of non owner occupied homes from your title rep....specifically for your Specialty Area
and knock on their door if appropiate. and this is the biggest one every two weeks hold home buyers seminars....Either for first time homebuyers or investors. Because these are the people buying homes right now...We are holding Seminars on How To Buy Bank Owned Properties with great success.
most of the attendees are investors. use any an all methods of advertising within your budget..Craigslist...
you are already on Trulia and I hope you are on Linkedin.com, Facebook.com, Meetup.com and Yelp.com
these are free....For me I keep it simple: I do it on the phone, face to face, belly to belly and rocking on the porch on rocking chair....Try any of this for 18 months and if after 18 months doesn't work...come back to me and I will tell you what you are doing wrong............Winners never quit...quitters never Win.


Good Luck,

Luis
0 votes Thank Flag Link Tue Nov 18, 2008
Maybe you can get another job, to make ends meet. Good Luck
0 votes Thank Flag Link Tue Nov 18, 2008
I agree with Tina's view. I have always been told the same thing, get the listings, the buyers will come. Each agent always has certain strengths. Some are meant to be listing agents whiole others have the patience to be buyer agents. It is very hard to get a buyer to contact you unless you give them a reason to do so. If you have listings they will call you for information, a good realtor will know that even if that house is not for them, you can help them find another one that they will like. So you either need some listings or have to give buyers areason to call you. You cant sit and hope the phone will ring.
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Tue Nov 18, 2008
Mark,

Check into Homegain - I have been very successful using this service. Do some scatter ads on foreclosures to get the phone ringing. Hand out your business card where ever you go. (you may have to get a little obnoxious about it.) Everybody is talking about real estate right now and do want to talk to Realtors to get the "real" story on the market - become the expert. The big question is what are you doing now to try and find business? Write down what you are doing and make an appointment with your broker to go over your marketing plan. I'll bet there's more than one agent in your office that may be willing to help you get things back on track. Find non-profit agencies (Community Housing Development Organizations) that teach homebuyer classes and try and get invited to teach a contract or finance segment. Classes are usually on Saturdays and are a really good source for buyers. Or even better hold your own classes. We used to go and put flyers on windshields so they could see them when they got out of class. Get some listings - there are plenty of FSBO's that are ready to list with a Realtor. BTY some of these sellers are also local buyers or out of state referrals. Check out http://www.owners.com and look for the profiles that agree to work with a Realtor and send them some marketing material. I personally go and preview their home in case my buyers see the FSBO sign and want to know about it. Get out and do real estate stuff. I see a lot of agents that get stuck in the office because they don't know where to start.
0 votes Thank Flag Link Tue Nov 18, 2008
Hi Mark!

The old adage, "If you have the listings, the buyers will come" is still true in this market. What is your MLS showing as the most popular price range in sales? Every agent should have 10-15 listings in inventory which they are advertising (and they don't have to be your listings). Ask some agents in your office if you can advertise their listings in the price range you have researched as most popular. Then, advertise the heck out of them online. The buyers will come!

Good luck!
0 votes Thank Flag Link Tue Nov 18, 2008
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