Why Selling your home without a Realtor is a Nightmare you’d never want to see!

If you plan to sell your home without recruiting the services of a realtor, think again. You do not want to take such a massive risk while carrying out what is probably the biggest financial transaction of your lifetime, do you? By sidestepping this critical enabler, homeowners expose hard-earned money and valuable time to a larger risk, while frittering away some significant benefits.

Most buyers/sellers who opt for this route, usually want to forgo the commission paid to the agent but fail to pre-empt the valuable benefits he offers in return. In fact, surveys have shown that such properties usually sell for a comparatively lower price than those sold with the assistance of a professional realtor.

Before taking a decision, check out these proven benefits a realtor will bring to the table if you engage his services to buy or sell a property:

1.       Availability of Time: Given the tight work schedules, you actually do not have time to show around the home and play the role of a real estate agent. How will you manage showing the home while you are out on a business trip or a vacation? Your friendly, neighbourhood realtor is ready to showcase your property at a short notice and collect the right feedback from prospective buyers about it too, by asking the right questions (could you do that?). He will even offer solutions to problems a prospective buyer perceives, especially those that could come in the way of concluding a deal.

2.       Priceless Knowledge: The domain knowledge that a realtor possesses is truly invaluable and as a layman it is difficult to match up to it. He knows how to pick holes in the story that the property websites weave around the home and provide valuable insights to the prospect. He is aware of the history surrounding the home and is able to turn it into a selling point.

3.      Marketing awareness: While selling a property, image is of vital importance and you rarely get a second chance to create a good impression about your home. Professional realtors know how to “prepare” a home when a prospective buyer comes visiting or when property images have to be shared with an interested party. Marketing your property will need the expertise of a realtor and you wouldn’t want to miss out on this valuable quality for the sake of commission.

4. Experienced negotiator: When you engage a certified realtor and entrust the task of finding the right buyer for it, you get many bundled-up qualities too. His expert negotiation skills (due to the endless hours he has spent doing this) always keeps the buyer interested and he ensures that terms and conditions always work in your favour.

5.      Understands Closure: There are dozens of things to be taken care of, after the deal is sealed in your favour. With a realtor managing things for you, you can be assured that last-minute issues and unexpected delays at the registrar’s office or loan formalities are taken care of. He is qualified enough to carry out firefighting activities whenever needed and this truly makes a realtor an indispensable part of a buying/selling process of a home property

6.      Safety: With property portals and online agencies making the buying and selling easy, it has also attracted a lot of negative attention too. When you put up your home, its images and other details on the internet, you can expect unknown buyers wanting to see your home. You wouldn’t know the actual intentions or background of the so-called “prospect” since there is no agent who can verify that. Won’t this put your home and family at a risk? And all this because you do not want to pay a commission to the agent. Think again!

It makes great sense to appoint a certified realtor to help you to sell your property and avoid a lot of costly mistakes that could come back to haunt you in the future.

Use the professional services of a Realtor who not only helps you to protect your interests but will also justify your home’s value that is so rightly deserves.

Credit : Ramprasad Padhi

Founder & CEO – Mumbai Properties Consulting Pvt Ltd

http://www.mumbaiproperties.com/ 

Don't Hire the Wrong Real Estate Agent

Buying a home is the biggest investment you’ll likely ever make, and it has all sorts of implications for your personal and financial future. This is why it’s so important to work with the right agent.

Too many people don’t realize just how much can go wrong if they make the wrong hire. There are some very serious problems that can arise if you accidentally work with the wrong person to buy or sell a home. Here are some of them:

1. Not listening

A professional real estate agent (or any other professional for that matter) will take the time to listen and understand their client and the client’s needs. The wrong one, however, isn’t going to listen to what you have to say, and will instead focus on what they want for themselves.

This will set the precedent for the rest of the process and make any real estate transaction a miserable experience. An agent who doesn’t take the time to know your wants and needs will cause you stress, confusion and heartache.

2. Bad advice

If there’s one thing you need a competent agent for, it’s the advice they’re able to provide. A good agent will serve as your trusted advisor, guiding you through the myriad of decisions you’ll make when buying or selling a home.

A bad agent, however, will either give you advice that’s not based on any experience or research, or is just plain self-serving. This can cost you financially or prevent you from accomplishing your goals altogether.

3. Failed negotiations

Lots of people consider themselves good negotiators, but very few actually are. While negotiating might be just one part of real estate, it’s an important one. You need someone on your side who’s working in your best interests in a competent and effective way.

A bad agent will either negotiate in such a way that attainable deals fall through, or will simply negotiate in their own best-interests rather than the interest of their clients (you).

4. Lack of responsiveness

This may or may not be one of your pet-peeves, but unresponsiveness in something as complex as a real estate transaction can be an absolute nightmare for the person whose money, home, and future are on the line.

A great agent is available most any time you need them (within reason). The wrong one, however, will let your calls, messages, and emails go unanswered while you worry yourself sick about what’s happening (or not happening).

5. Missed opportunities

Real estate is a business that moves quickly, especially when the market is hot. Even when there’s high demand, there are still opportunities for buyers, and a good agent will know how to spot them and take advantage quickly.

The wrong agent will miss good opportunities because they’re unable to recognize them, will move too slowly and miss them, or just generally not care.

6. Legal pitfalls

Real estate is complex by nature, and legal questions arise on a frequent basis. Thankfully, good agents have the knowledge and resourcefulness to help you navigate them and can find solutions even if they’re not immediately apparent.

Hiring the wrong agent will mean that when the inevitable problems creep up during the transaction, they’ll either give you the wrong advice on what to do, or will simply look at you and shrug their shoulders.

7. The process won’t be enjoyable

There’s no rule that says a real estate transaction has to unpleasant. Yes, it’s a lengthy process that has lots of implications. But if you take a step back and think about it, buying or selling a home is usually a positive thing—whether it’s an upgrade, a money-saving downgrade, or a general lifestyle change. You should work with someone who can at least make it a pleasant experience.

And that’s the thing about hiring the wrong agent. They’re all but guaranteed to make the process one that you won’t enjoy.

So choose your next real estate agent wisely; your happiness—and the height of your high five when it’s over—will likely depend on it.

Credit : Ramprasad Padhi

Founder & CEO – Mumbai Properties Consulting Pvt Ltd

http://www.mumbaiproperties.com/

Realtors - Employing Technology for a Personalized Touch

With technology improving by the hour, the entire real estate process has undergone a huge metamorphosis, as every step, right from property listing to finalization of the deal, has been impacted by its presence. The transaction process of buying or selling a property can be a tedious one but the right combination of a professional realtor and technology can make it a seamless one for you.

Devices like tablets and mobile phones are commonly used and customers can choose either, to transact and communicate with realtors and vice versa too. Realtors get a better insight to their business and have better control over day-to-day operations. It provides some fabulous opportunities of delighting the customers as new technology are equipped with tools to give great experiences to the customer and realtor. Realtors who employ technology in their business to boost their service quality, are able to provide top quality experiences to their clients, without compromising on a much-needed human touch. 

Providing Benefits to the Customer
Many realtor firms focus and spend a lot on digital marketing, lead generation, email marketing, sms blasts etc. in the quest to uncover potential customers and to reach them. However, although technology has its own benefits, it is a direct referral from a satisfied customer that still leads the way. Realtors who focus on giving a fulfilling experience to their customers during the entire process of buying or selling their homes, are more likely of getting references. Remember, buying a home is a hugely emotional experience for most customers and as a realtor if you connect well at this level, you have earned a client for a lifetime.

 While the human touch is important, customers love when things are simplified for them and technology does this quite efficiently and in a seamless manner. After all, they are using technology to simplify their lives, beginning with the morning coffee to booking flight tickets to finding life partners. Prudent realtors ensure that technology is used in the right context and quantity with the human touch. For example, although communication has many channels at its disposal, a face-to-face meeting serves many purposes and is preferred when the issue is complex. Use technology to exchange information and set up meetings. All this leads to a highly positive experience for the customer.

Treating employees as customers
As a professional realtor, you will have a team of sales agents who reach out to customers on the phone or personally. For successful running of your business, it is necessary to attract new talent and retain them too, as they represent your organization, its values and ethics. Provide them with suitable means of online communications in the office or when they are on the move, since this will help them to give your customers an experience that is garnished with the right amount of human touch.

 Keep the team interested and engrossed in day-to-day work by providing online training, a powerful communication device and the freedom to reach out to customers in the most suitable manner. Elaborate use of technology to keep the team connected between themselves and their customers is often the key to attracting talent and employee retention. 

Embracing technology for smooth running of business
Gone are the days when one had to sift through stacks of documents to review them or comply with the authorities involved. Technology helps us to store files, documents, signatures, deeds and agreements in the digital format and thus can be retrieved without a hassle. No paperwork is inaccessible as scanned documents can be easily forwarded or presented before the relevant authority in quick time. This provides a truly improved experience to the customers. Employees too, have more time on hand to carry out the tasks they are supposed to, and connect to more customers to sell real estate. 

 Technology helps realtors to market their business well and reach out to customers quickly, thus leading to more closures. The use of modern communication devices, CRMs and marketing techniques can be useful to a certain extent but remember these are only a part of the entire process. Adding the flavour of human emotions and face-to-face communications is necessary for realtors to give a personalized touch to probably the most important transaction of your customer’s lifetime.

Credit : Ramprasad Padhi

Founder & CEO – Mumbai Properties Consulting Pvt Ltd

http://www.mumbaiproperties.com/

Realtors - Top Ten Creative Ideas to Give your Real Estate Marketing a Boost

Those who are a part of the real estate industry, especially Realtors who are involved in the buying and selling of property, will understand the challenges one faces in developing a unique competitive advantage. This is particularly true where there is a massive choice and carving a niche becomes absolutely critical.

If you are looking for inspiration and want to indulge in creative marketing, then here are a few top-of-the-line real estate marketing ideas to jumpstart the process:

1.      Weave a story around every property: As the tagline of a popular advertisement says “Har Ghar kuch kehta hai”, you could create a brand around every property you have in your list. Showcase a property by highlighting its most stunning features and use terms and phrases your client could easily connect too. Talk about inspiration and creativity if you know the prospect belongs to a relevant industry. Send him so carefully-selected images of the property or a professionally done video on WhatsApp to whet his appetite before showing the property. This will help in creating a positive image before the actual showing and will boost your chances of selling/renting the property

2.      Choose a special feature and highlight it: Although there are many financial implications of buying a home, the decision is mostly an emotion-driven one. As a realtor, identify a specialty of the home you are showcasing and make it a highpoint while presenting it to the client. If the residential complex has a huge, green garden as an amenity, highlight this when you know the client is a nature-loving one and wants to spend time away from the hustle-bustle of the city. If the couple have kids, paint a verbal image where they can see the little ones playing in the garden and using it as a playground.

3.      Advertise in the vicinity of good-looking homes: When you are searching the city for a place of your own, you often come across a gorgeous home or an attractive property that makes you wish you lived there. Flyers and posters near some of the beautiful homes in the city with a message that says “Want to live in a home like this one?” are enough to trigger an action in home seekers. Don’t forget to wait by the office phone as it will soon ring off the hook when you advertise in this way!

4.      Don’t miss your client’s housewarming party: After you have managed to crack that deal for your client, it is time to bask in its glory. If your client has organized a party or a puja, make sure you are invited to it. This is the time to let the select gathering of family and friends know that you are the guy who made this win-win deal possible. Your client is more than likely to introduce you to the guests and recommend your services to those who are on a house-hunting spree themselves. You could also offer to sponsor a portion of the party as a goodwill gesture and promote your services in a discreet manner.

5. Connect to an NGO: Every time you make a sale, donate some portion of your commission to an NGO or a charitable organization. Spread the word that you are associated with an NGO that works for the homeless or for orphans. Your client will feel proud to be associated with a realtor who takes CSR seriously and will gladly recommend your services to others. It could prove to be a tipping point if your client is torn between two properties and is quite close to taking a decision.

6.     Organize an event for new buyers: Home buyers are keen to get their queries solved about the home buying process, the legal formalities, moving into a new town or getting qualified for a home. Invite all your prospective clients for an informal do where their queries are solved by a living, breathing person and not a property website. Give a small talk about the things they need to consider while buying or selling or renting a place. Collaborating with interior decorators, home loan agents or movers & packers is a way of dividing costs since the target audience is the same for them too.

7. Drive the client to the property: It is a good idea to pick up the client from his home or a nearby locale while showing a property. It creates a good impression on the client and takes out the hassle of taking the public transport or use his car. It also gives you time to connect to the prospect and bond a little while you reach the destination. Arrange a car on hire if you do not have one and it will have a good impact on the client for a lifetime.

8.     Offer help with related things: Home hunters have many things on their mind while they are out looking for a roof on their head. Home loan, interiors, relocation, furnishing and school admissions are just a few that top the list. Provide as much help as possible especially if your prospect is new to the city. This will not only help you to close deals quickly but will generate a lot of goodwill too.

9.     Highlight pain points: While showcasing a property or advertising locally for it, focusing on the probable pain points your clients may face can draw attention. A paying guest will love to be freed of pesky landlords, strict rules, long commuting hours and congested homes. Target these areas while speaking to prospects and show them the brighter side of life to help them switch.

10.     Sponsor events when possible: Identify a few clubs in your city and sponsor a few events through the year, according to the client profile you cater to. If HNIs form a large portion of your client list and luxury apartments is your forte, then choose that exclusive club as your target. If you are a specialist with rental homes and budget apartments, the local club can be a wonderful place to be seen at. Decide on a budget and use it to connect to prospects where they are relaxed and unhurried.

It’s time to take a different approach while attracting clients since competition is growing by the day. Unique ways of connecting with prospective clients will certainly draw a lot more attention than traditional methods. So go ahead and try them out today!

Credit : Ramprasad Padhi

Founder & CEO – Mumbai Properties Consulting Pvt Ltd

http://www.mumbaiproperties.com/