Sacramento Real Estate Resource Guide - Sacramento County, El Dorado County and Placer County Realtors

Friday, March 2, 2007, 01:48 AM
Top 7 Mistakes Rookie Real Estate Agents Make (Part One)
By: Eric Bramlett
December 2006 - NETREAL


See Related Link for the FULL NetReal article ...


Every time I talk to someone about my business and career, it always comes up that "they've thought about getting into real estate" or know someone who has. With so many people thinking about getting into real estate, and getting into real estate - why aren't there more successful real estate agents in the world? Well, there's only so much business to go around, so there can only be so many Real Estate Agents in the world.


I feel, however, that the inherent nature of the business, and how different it is from traditional careers, makes it difficult for the average person to successfully make the transition into the Real Estate Business. As a Broker, I see many new agents make their way into my office - for an interview, and sometimes to begin their careers. New Real Estate Agents bring a lot of great qualities to the table - lots of energy and ambition - but they also make a lot of common mistakes. Here are the first three top mistakes rookie Real Estate Agents Make.


1) No Business Plan or Business Strategy
A) Goals - What do you want? Make them clear, concise, measurable, and achievable.
B) Services You Provide - you don't want to be the "jack of all trades & master of none" - choose residential or commercial, buyers/sellers/renters, and what area(s) you want to specialize in. New residential real estate agents tend to have the most success with buyers/renters and then move on to listing homes after they've completed a few transactions.
C) Market - who are you marketing yourself to?
D) Budget - consider yourself "new real estate agent, inc." and write down EVERY expense that you have - gas, groceries, cell phone, etc... Then write down the new expenses you're taking on - board dues, increased gas, increased cell usage, marketing (very important), etc...
E) Funding - how are you going to pay for your budget w/ no income for the first (at least) 60 days? With the goals you've set for yourself, when will you break even?
F) Marketing Plan - how are you going to get the word out about your services? The MOST effective way to market yourself is to your own sphere of influence (people you know). Make sure you do so effectively and systematically.


2) Not Using the Best Possible Closing Team


3) Not Arming Themselves with the Necessary Tools
A) MLS Access is probably the most expensive necessity you're going to run into. Joining your local (and state & national, by default) Board of Realtors will allow you to pay for MLS access, and in Austin, Texas, will run around $1000. However, don't skimp in this area. Getting MLS access is one of the most important things you can do. It's what differentiates us from your average salesman--we don't sell homes, we present any of the homes that we have available. With MLS Access, you will have 99% of the homes for sale in your area available to present to your clients.
B) Mobile Phone w/ a Beefy Plan - These days, everyone has a cell phone. But not everyone has a plan that will facilitate the level of use that Real Estate Agents need. Plan on getting at least 2000 minutes per month. You want, and need, to be available to your clients 24/7 - not just nights and weekends.
C) Computer (Preferably a Laptop) - There's no way around it, you have to have a computer & be savvy enough to use email. You would be wise to invest in some business management software, as well. If you'd like to save some money (and who wouldn't) then you can get the client & email management software Thunderbird from www.mozilla.com and you can get a free office suite from www.openoffice.org. The only downside to these programs is that they do not sync with your PDA or Smart Phone. A Laptop is a BIG plus because you'll be able to work from home or on the go. New Real Estate Agents are often surprised by just how much time they spend AWAY from the office, and a laptop helps you stay on top of your work while on the go.


D) Real Estate Friendly Car - You don't have to have a Lexus, but your Miata won't do the trick. Make sure that you have a 4 door car or SUV that is comfortable and presentable. Keep it clean, and for God's sake, don't smoke in it! You're going to spend a LOT of time in your car, and put a lot of miles on it, so if it's fuel efficient, it's a BIG plus. If you're driving a sporty convertible, or still have your KILLER Jeep from college, it's time to trade it in.



Friday, March 2, 2007, 12:58 AM
Top 7 Mistakes Rookie Real Estate Agents Make (Part Two)
By: Eric Bramlett
December 2006 - NETREAL


See Related Link for the FULL NetReal article ...


New Real Estate Agents bring a lot of great qualities to the table--lots of energy and ambition--but they also make a lot of common mistakes. Here are the the last four top mistakes rookie Real Estate Agents Make.


4) Lack of Proper Funding - If you've taken the time to create your business plan, than you should definitely have your budget, but I can't stress enough the importance of having and following your budget. However, the budget alone doesn't address the important aspect of funding. 90% of all small businesses fail due to lack of funding. Typically, new agents will want to have 3 months of reserves in savings before taking the leap into full time agency. However, money in the bank isn't the only way to answer the question of funding. Maybe your partner can support you for a certain period of time. You can keep a part-time job that won't interfere with your business as a Real Estate Agent. Many successful waiters make the transition to successful real estate agents with no money in the bank. When you start your new business, don't expect to earn any income for, at the least, 60 days.


5) Refusing to Spend Money on Marketing - Most new Real Estate Agents don't realize that the hardest part of the business is finding the business. Furthermore, they've just shelled out around $2000 for their license and board dues, so the LAST thing they want to do is to spend more money! Again, the problem lies in the lack of understanding that you've just jumped into the Real Estate Business, you haven't taken a new job. And any good businessperson will tell you that how much business you GET is directly correlative to how much you SPEND on marketing. If you choose the right brokerage, then you will get some good inbound leads. However, don't neglect a good, personal marketing campaign from the beginning to get your own name out as the Real Estate Agent to go to.


6) Not Focusing Their Marketing Efforts In The Most Effective Areas - One reason why many new Real Estate Agents who do begin spending money on personal marketing stop is because they spend it in the wrong place. The easiest place, and where conventional Real Estate tells you to spend your money, is in conventional print marketing -- the newspaper, real estate magazines etc. This is the most visible place to see real estate advertising, it's where large offices spend a good part of their money, and so many new agents mistakenly spend their money here. This becomes very frustrating to new agents because of its low return. Large brokerages can afford to spend their money here because they're filling two needs--they're marketing their own properties for sale while creating new buyer traffic for their buyer's agents. New Real Estate Agents should look to their own sphere of influence and referral marketing to see the most effective return on their investment. An agent can spend as little as $100/month marketing to their family, friends, and colleagues and see an incredible return. There are many great referral systems around that all focus on the same premise--that if you consistently market yourself to your sphere of influence as the Real Estate Agent to go to--then you will get more business. The key is to pick a system and to follow that system. You will see results.


7) Choosing the Wrong Brokerage for the Wrong Reasons - New Real Estate Agents choose their new broker for a variety of reasons--they have a good reputation, they offer the most competitive split, the office is close to their house etc. While these alone aren't bad reasons to choose a broker, they aren't going to do a lot to help you in your success. The #1 reason to choose a broker, and the question to ask is, "What do you offer your new agents." If the answer is, "The most competitive split in town" you should definitely keep looking. Remember, 100% of $0 is still $0. If you're leaning towards the largest broker in town, who has a great reputation, remember this: You're starting a BUSINESS not a JOB. While it might be fantastic to brag to your friends about landing a job at a prestigious company, it's no accomplishment to hang your license on the same wall in the same office as other successful agents.


Your #1 concern when interviewing new Brokers is what they offer you as a new agent. Do they have incoming leads? What does their training program consist of? What's their retention level? What's their average sales price? Do they encourage their agents to promote themselves? A Broker's purpose is to help new agents start successful careers and to help established Agents progress their careers to the next level. As a new agent, concern yourself less with commission split or agency name and more with specific programs and agency standards.


A new career in Real Estate is very exciting. Starting a Real Estate business provides the new Agent with opportunities for limitless potential and freedom. New Agents have a notoriously high failure rate, however, so a new Real Estate career can also be a very scary prospect. However, if you avoid the 7 Top Mistakes Rookie Real Estate Agents Make, then you'll be far ahead of the competition!



Tuesday, January 9, 2007, 03:02 PM
Hello & Happy New Year! We WILL have the Folsom MLS Tour tomorrow morning at 8:30AM.


Location: The Folsom Community Center (52 Natoma Street/corner of Wales & Natoma)


If you would like a sneak preview of the homes that will be showcased tomorrow, you can logon to our NEW WEBSITE and check it out!


www.folsomcaravan.com


All tour information is provided on this site, along with a calendar of scheduled SAR & Folsom MLS events with dates and times.


I would like to thank Ron & Joyce of SOURCIS for designing our gorgeous and user friendly website! We ALL owe them a tremendous deal of gratitude! This website www.folsomcaravan.com will really streamline the tour process, and enable everyone to be up to speed with ALL tour information to include: meeting dates, placing your home on tour (which can now be done on-line!), printable MLS tour sheets, property feedback forms, guidelines, calendar showing upcoming meetings, speakers, classes, etc. for both SAR & our Folsom MLS!


Now if you can not attend the meeting, (which of course, we hope you do!) you CAN still print the list of homes on tour and either “catch up” with the tour or view them at your leisure based on showing instructions. This benefits ALL Sellers and Listing Agents, as this will truly maximize the exposure your listing receives!


If you are looking to revamp your website this year or start one, please give Ron & Joyce a call. Let’s show our appreciation through utilizing their services! If you are happy with the website you currently have-they are also instrumental in getting your site premium exposure by ranking you higher on search engines and check out their NEW and EMERGING Sacramento Valley Real Estate and Realtor Resource Guide. SacMetroRealEstate It is an "exclusive" online Internet directory for realtors and real estate services in Sacramento County, El Dorado County, Placer County.


Contact Information:
916.990.5822
ron@sourcis.com
joyce@sourcis.com


Again, I hope to see you tomorrow and thank you all for your continued support of the Folsom MLS Tour as we celebrate our First Anniversary!


Brie~

Tuesday, January 9, 2007, 01:51 PM
What's Hot and What's Not in Home Design
Source: Washington Post, Kirstin Downey (01/06/07)
Daily Real Estate News | January 9, 2007


Mark Nash, the Chicago-based real estate broker who penned 1,001 Tips for Buying and Selling a Home (Thomson/South-Western, 2004), has released a list of home features that remain popular among buyers and those that are no longer in vogue. His list is based on responses from more than 900 real estate professionals nationwide.


For example, practitioners surveyed reported that the inability to keep stainless steel appliances, glass-front cabinets, and vessel-style sinks clean has caused them to fall out of favor with buyers. Also, spiral staircases have become less popular, particularly among buyers with young children.


As for what's "in," Nash found buyers are increasingly looking for some of the following features in homes:


. Glass bathroom and kitchen tiles.
. His-and-her home offices complete with fiber-optic cables for Internet connectivity.
. Wood floors — except for those made of bamboo, which is not as durable.
. Extra storage space in the form of linen closets, pantries, and luggage rooms.


With a large supply of unsold homes on the market, practitioners note that buyers have become pickier and expect homes to be in move-in condition.


See Related Link for the OTHER Real Estate News article ...

Monday, November 27, 2006, 06:25 PM
Real Estate Lingo: What's a Country Kitchen?
Source: Newsday, Sylvia Adcock
Daily Real Estate News | November 27, 2006


When you're working in the real estate business, you need to be able to cut through marketing language that sellers use in ads to find out what a property really is like. The staff of Newsday newspaper in New York interviewed several Long Island real estate professionals to come up with these commonly used terms, and their somewhat unexpected definitions:


. Country club landscaping: The land is flat and has been landscaped.
. Handyman's dream: "It's better to say 'fixer-upper' than 'in a serious state of disrepair,'" says one practitioner.
. Investor's delight: The property's best bet may be if the new owner just knocked down the building and started over.
. Country kitchen: Warm and cheery kitchen with maple or pine cabinets.
. Do not windshield: Means don't just drive by this one. It has no curb appeal, but there's something good inside.
. Rolling acres: Extremely hilly; no place to put a pool or playset.
. Victorian: This can mean a range of things. Either it's built in Victorian era (turn of the 20th century), or it could mean a brand-new home with peaked roof, turret, and maybe some gingerbread trim.
. Winter water views. Don't expect to see any water except for a brief period in the winter when all the leaves are off the trees.
. 3-4 bedrooms: Three bedrooms, with a fourth room that you could put a bed in if you had to.


Although real estate ads are known for their euphemisms, practitioners say they're careful to not be misleading and they ask sellers to do the same. "I always advise clients to be truthful because we have a very litigious society," says Lita Smith-Mines, a real estate lawyer in Commack. New York State law prohibits false advertising. "You can be flowery," she says. "But don't exaggerate."


See Related Link for the OTHER Real Estate News article ...


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