THE ESCROW ADVISOR
June 2014 • Issue Fifty-Two
SIX HABITS OF SUCCESSFUL REAL ESTATE AGENTS
Just about every broker or agent has their own style. Some are extroverts, some are more laidback. Some are fun
and flamboyant, some are cool, calm, and collected.
So what makes a successful agent? The first thing is always passion. It’s a hard business and it takes a lot of attention
to detail and a commitment to great customer service. In talking with agents I’ve noticed that the truly great
agents also share the attributes below:
They return calls and emails at lightning speed - These are the people that get a lead and don’t let it go. They
immediately make contact and they follow up. They answer any questions and are happy to stay on the phone
with nervous clients. They are the warriors of email, text, and phone and they keep that rhythm right up through
the whole transaction, reaching out to clients through as many channels as possible in the beginning even using
Skype. Their clients feel like they are very important to the agent. They also switch their communication style
to match the client. If the client prefers text, they text, if the client wants a phone call, they call. They mirror
the client’s communication
style so the client feels more
comfortable.
They are up on the latest
technology - They are iPad
toters and smartphone addicts. They do everything
from anywhere. They don’t
just have a tablet and a
smartphone; they make sure
they have great data plans so
they are never stuck without
an internet connection.
They try to go paperless as
much as possible. They read
a lot of information both
about the real estate industry
but also about general trends
regarding technology.
They know their neighborhoods intimately - The phrase “neighborhood expert” gets bandied about quite a bit
but when it comes to top agents, they are walking, talking encyclopedias of neighborhood lore. Ask a question
about a street and they know what’s on the market, what sold recently, and the overall status of the neighborhood. Tell the agent what you like in a neighborhood and suggestions on places to look will come tumbling out.
Looking to sell? The agent knows what is on the market, what just sold, and what you can get for your money.
These days anyone can look at houses online but the top agents know what lurks below the surface and they keep
their value that way.
Continued on Page Two
G REAT PACIFIC E SCROW C OMPANY
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L A J OLLA B RANCH • P: 858.222.6200 • F: 858.412.1971
PRICES MORE
SUSTAINABLE
AND STABLE;
CHILDREN
INFLUENCE
HOMEBUYERS
It looks like the double-digit
housing price gains that catapulted some homeowners out
from under water, may now
be slowing. Housing experts
say that’s good news because
it creates a sustainable and stable market, according to the
Standard and Poor’s/CaseMiller’s 20-City Index report.
With more homeowners no
longer owing more than the
loan and some even seeing
growing equity, there is an attitude of growing consumer
confidence. Reports indicate
that for the first time in a long
while, consumers are more
optimistic about their own
personal financial wealth.
Foreclosures now represent a
smaller percentage of sales
and investor interest in higher
priced homes has somewhat
cooler. The majority of buyers
today are return buyers; only
30 percent are first-time buyers, according to the National
Association of Realtors.
Housing prices jumped in
markets like San Diego which
saw nearly a 20 percent gain
from March 2013 to March
Continued on Page Two
The Escrow Advisor
June 2014 • Issue Fifty-Two
PRICES MORE SUSTAINABLE AND STABLE; CHILDREN
INFLUENCE HOMEBUYERS (cont.)
2014. Today, less inventory and slightly softer housing prices, experts say,
will help prevent another bubble.
Still, 6.5 million American homeowners remain under water - (mortgage
balance higher than home’s value). The slight slowing in price escalation
is delaying their ability to see equity in their homes.
The gradual rise of interest rates has also caused buyers to pull back and
evaluate whether now is the time to buy. But this past April, the number
of sales of existing homes rose modestly. This was the first increase in
four months.
Another study by Coldwell Banker Real Estate showed that other factors
such as children play a large influence on parents’ decision to buy or to
move to a new home in a different location.
The Millennial Parents (ages 18 - 34) reported that they would put priority on their child’s needs before they made a decision to move to a new
location. The Gen X (age 35 - 49) parents feel the same way.
The main concern, from the majority (67 percent) Millennial Parents
and (64 percent) Gen X Parents, is to ensure that the neighborhood and
overall location have a positive impact on their child’s emotional health.
In contrast, only 52 percent of Baby Boomer Parents would consider
moving based on their child’s welfare. This group also was less concerned
about how a move would emotionally impact their child.
The higher level of concern by these two younger generation parent
groups could be a little too protective. Psychologists say that while moves
can be stressful for children, they also can be beneficial in teaching them
to adjust and cope with life’s changing circumstances.
Finally, realtor.com finds that people can have a “crush” on a home during the house-hunting process. The study found this to be true more
often for women than men. Women fell in love with open floor plans
whereas men seemed to go gaga over curb appeal. The survey questioned
1000 people and 69 percent of them admitted that during their house
shopping, they had a crush on a home. Women tended to fall for homes
“out of their financial league” more then men. Men seemed to fall for a
new home a week.
Hmm…seems that this report could fuel some good material for jokes on
the late night shows. In the case of buying a home, be sure your “crush”
turns into a true love before you close escrow.
SIX HABITS OF SUCCESSFUL REAL ESTATE AGENTS (cont.)
They explain everything they are doing – Like straight A
students doing math homework, successful agents show
their work. When they meet with the client for the first
time they explain the process, the potential roadblocksand
a few scenarios that could occur. They let the client know
that they are negotiating, they keep in regular communication, and they adjust their strategy as needed. Survey results frequently indicate that sellers are most satisfied when
their agents provide regular communication on what was
happening with the efforts to sell the home.
They get leads any way they can - Nobody really likes to
talk about leads but leads are how many agents get clients.
A lead is an introduction to someone the Realtor hasn’t
met yet. Smart agents are experimenters, they try out different types of lead sources, they explore different types of
ad campaigns, and they take notes on what works and what
doesn’t. They understand that having a social presence is
important and that staying top of mind means being active
with their clients through social media, through advertising, and even through more traditional methods such as
postcard mailings. Postcards and bus stop bench ads are
still around because they still work in some cases.
They have a great network– These agents don’t just have
a network to bring them clients they have a network of topnotch partners who provide the same level of service they
do. They know the best contractors, appraisers, lenders,
and insurance providers in the business. The agent is the
hub of a group of professionals that can advise and assist
with anything real estate or home related. Top agents care
for their network and are happy to refer clients that they
know will get top care. They are ruthless about cutting out
anyone who doesn’t provide great customer service to their
clients.
Overall, great customer service is about two things, knowledge and authenticity. The agents that succeed are able to
treat each client’s purchase as vitally important. They are
able to steer the client through any hiccups in the process
and leave the client feeling that the whole process was as
easy as possible.
GREAT
PACIFIC
ESCROW
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92108
P: 619.326.9696
F: 858.224.1452
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AVENUE
LA JOLLA, CA
92037
P: 858.222.6200
F: 858.412.1971