Monthly Archives: April 2018
The Difference Between Pre-Qualified vs. Pre-Approved
Your Buyer Must Be Pre-Approved Before You Show Them Property
A friend of mine told me that he was extremely frustrated with the home buying process and was turned down for a mortgage. He said he had a “Pre-Qualified” letter from his mortgage broker that he requested. He didn’t understand the issues that caused a roadblock in getting the loan he needed to purchase his dream home. I explained that his agent should have insisted that the mortgage broker provide a “Pre-Approval” (Loan Commitment) letter, from the beginning, verifying that they did a credit check, knew the income/debt ratio and then determined the maximum loan amount for him. If your buyer doesn’t have a “Pre-Approval” letter then you run the risk of your buyer not qualifying for the loan needed for the home they have a contract on. You’ve wasted the buyer’s time. You’ve wasted the listing agent’s time. If the buyer (as in my friend’s case) had a home inspection done, there’s more time and money wasted. His buyer’s agent had a number of contractors/vendors lined up to start doing home repairs, yet there were still contract contingencies. As a side-note: For whatever home updating issues the buyer is requesting a referral, the agent should provide the buyer with no less than (2) vendor referrals for each issue i.e. painting, carpeting, tile work, kitchen remodeling etc. I’ve always referred to the Pre-Approval letter as the “LOAN COMMITMENT” letter. It’s no wonder my friend, the buyer, was confused. He thought the Pre-Qualified letter guaranteed him the loan amount. Based on this fiasco, he won’t be recommending the buyer’s agent to any family or friends.
Moral of this story is — Agent’s need to INSIST that the lender provide their buyer with a loan commitment letter prior to showing them property.
Disclaimer: The opinions expressed in blogs on this website are solely those of Marcy Sanders. The information provided on this site is for general informational and educational purposes only.
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5 Mistakes Team Leaders Should Avoid
Being a Successful Team Leader Requires You To Steer Clear From Negativity
1. Arrogance. You might be a Top Producer, but being a sarcastic know-it-all won’t help you lead a team. Be genuinely interested in helping everyone grow on your team. Have a caring helpful attitude.
2. Micro-Manage. Don’t eavesdrop and critique every phone conversation or constantly micro-manage everything they do. Give your team the tools and guidance they need to succeed. Don’t cause them anxiety by keeping them under a microscope.
3. Favoritism. Don’t play favorites! Treat everyone on your team the same. Be fair and objective.
4. Unrealistic Work Schedule. Don’t expect your admin staff to work 24/7. Understand that they do have a personal life. Don’t give them a work cell phone thinking it’s acceptable to call them anytime of the day or night when they’re not working.
5. Unethical Behavior. Never tarnish your image, or that of your team members, by doing anything you know is unethical. Once you tarnish your reputation in real estate, you’ll never get it back. Your standards and integrity should be of the highest caliber. Be a role model for what your team members should aspire to be.
Disclaimer: The opinions expressed in blogs on this website are solely those of Marcy Sanders. The information provided on this site is for general informational and educational purposes only.
OrganizeMeForms™ (80) Exclusively Designed Real Estate Forms & Checklists – Providing Real Estate Professionals, their Customers and Teams with a unique collection of detailed forms to keep them on-track with task management. The solution agents have been waiting for! Start using OrganizeMeForms™ today and soon you’ll be on your way to becoming a successful top producer. Click on the button below to order now!
5 Simply Awesome Ways to Satisfy Sellers
Do You Really Know What Makes Your Sellers Happy?
- Great Communication. Communicate with sellers weekly. Keep them informed of showings, market activity in their neighborhood, marketing initiatives, etc.
- Open House. Host an open house as often as possible. Chances that you’ll find the right buyer for this property during an open house are slim, but this event is actually a great opportunity to sell yourself.
- Marketing. Have a comprehensive marketing plan in place. Consistently email your sellers making them aware of when and where their property is being advertised.
- Sold. Sell their property in a reasonable amount of time. In doing so, it must first be properly priced.
- Closing Process. Use the OrganizeMeForms™ Closing Checklist and customer closing forms. Follow every step and pay attention to contingency dates. You’re the ringleader — maintain great communication with the mortgage broker, title processor and sellers over the course of the closing process.
Be highly organized and detail oriented throughout the process of selling their property. In doing so, you’ll be rewarded with repeat business and referrals for years to come.
Disclaimer: The opinions expressed in blogs on this website are solely those of Marcy Sanders. The information provided on this site is for general informational and educational purposes only.
OrganizeMeForms™ (85) Exclusively Designed Real Estate Forms & Checklists – Providing Real Estate Professionals, their Customers and Teams with a unique collection of detailed forms to keep them on-track with task management. The solution agents have been waiting for! Start using OrganizeMeForms™ today and soon you’ll be on your way to becoming a successful top producer. Click on the button below to order now!
Amazing Photo Taking Tips For Listing Agents
Tips for Taking Fabulous Listing Photos
1. Declutter: Ask the seller to declutter and have the property neat and orderly inside/outside prior to taking photos. Have the sellers remove everything from the kitchen countertops.
2. Staging: Fluff the pillows, place a bowl of fruit on the dining room table etc. Use your imagination and make each room, and exterior seating areas, look inviting!
3. Lighting: Turn on all lights in each room prior to taking photos e.g. ceiling light, table lamps etc.
4. Photo Taking Method: Stand in the corners of each room when taking photos.
5. Exterior Lighting: Take exterior photos on a bright sunny day.
6. Lawn/Landscaping: Make sure to have the seller mow the grass prior to taking photos. Additionally, potted or planted brightly colored flowers will add to the property’s curb appeal.
7. Nighttime Photos: In a luxury market you’ll want to take several exterior photos of the property at night. Make sure all lights are turned on inside and outside of the home prior to taking photos.
8. Distractions: Leave pets, children, homeowners and vehicles out of the photos. Too distracting!
9. Camera vs. Cell: You don’t need an expensive camera to take amazing photos. You can take outstanding photos with your cell phone. Practice makes perfect!! Use a photo editing application on your computer to crop and edit each photo.
10. Number of Photos: Take several photos of the interior and exterior of the property. More is always better!! If you don’t know how many photos can be uploaded for your listing in the MLS, check with your association or MLS vendor.
The reality is that not everyone is a photographer. If you don’t take great photos then hire a photographer who will (marketing dollars well spent). Undoubtedly, beautiful property photos will help sell your listing.
Disclaimer: The opinions expressed in blogs on this website are solely those of Marcy Sanders. The information provided on this site is for general informational and educational purposes only.
OrganizeMeForms™ (80) Exclusively Designed Real Estate Forms & Checklists – Providing Real Estate Professionals, their Customers and Teams with a unique collection of detailed forms to keep them on-track with task management. The solution agents have been waiting for! Start using OrganizeMeForms™ today and soon you’ll be on your way to becoming a successful top producer. Click on the button below to order now!
