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Transcript

The Real Listing Goldmine? Don’t Fail Your First-Time Sellers · The Real Estate Agent Playbook

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  if you don't know how to guide
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  your first time home sellers
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  you could be stabbing yourself in the foot
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  trying to build a business of long term referral trust
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  repeat business
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  because most agents treat these first time home sellers
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  like they've done this before
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  yes
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  they have been involved in a real estate transaction
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  however first time home sellers have not been involved
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  in a listing side of a transaction
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  and it's a completely different ball game
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  just like for you first time home buyers
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  are completely different than seasoned buyers
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  out there investors on the market
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  so are first time home sellers
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  and it's a market that you can absolutely
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  scale your business if you can reach these people
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  and help understand that
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  this is a first time
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  for doing something in the real estate game
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  let's talk about it
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  what's up guys I'm Jeremy Kane
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  real estate agent playbook
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  the Wolf Pack at EXP helping agents just like you
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  figure out how to scale their business
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  without spending a ton of money on
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  Zillow ads or Facebook ads
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  but building an organic
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  connection based business that can help you grow
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  and is certainly scalable to heights that
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  I'm sure would change your life
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  so if you're interested in that
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  you can book a call with me
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  I partner with agents I coach agents
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  I do it all
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  so we can talk about that when you book a call
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  but for now
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  let's talk about these first time home sellers
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  first and foremost let's have a comment below
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  in
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  the struggles that you are seeing with these sellers
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  first time home sellers
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  even if they're not first time home sellers
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  and it's been a long time
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  what's the No. 1 struggle you are seeing with sellers
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  right now in our market
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  because the truth is there are some right
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  why are first time home sellers different
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  why don't we talk about first time home sellers
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  like we talk about first time home buyers right
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  there's almost a stigma on first time home buyers
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  because they're too much work
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  they're this they're that
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  which I think is crap too
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  as as you Learned in the last video uh
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  first time home buyers are a
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  another gold mine that you can access however
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  for the first time home sellers
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  they may have some equity
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  they may be coming into the buying season
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  a lot differently than they were
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  but before they get into that
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  and something they've already done as a home buyer
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  they need to be a home seller
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  and being a home seller is a lot different right
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  understanding that there's an emotional piece of it
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  there's a business piece of it
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  and prepping your sellers for those roller coasters
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  for what's going on
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  because now the feedback's coming at them
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  this is their lifestyle
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  sometimes there's negative feedback that comes in
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  like that paint color sucks
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  well what if it's our favorite paint color right
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  you have to understand and manage these emotions
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  to help your sellers kind of stay even keel
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  through what can be an extremely stressful process
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  another thing you have to understand
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  is where they are going right
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  I think that it's huge
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  and agents kill a lot of listings
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  by focusing so much on you know
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  what's going on skipping the education
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  assuming that they know what it's like to have showing
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  scheduled into their home versus
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  you know
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  you doing it on the back end into someone else's home
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  on the buy side right
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  over promising on price this is huge
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  you have to understand that
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  you need to be
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  as subjective as possible with the price
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  understanding the facts and the value
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  and all the things and taking that into consideration
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  I like to use you know
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  I believe that I can get an appraisal
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  based on this data at this number right
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  we can talk about the different pricing strategies
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  going for gold
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  pricing at market or pricing a little bit below market
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  that's a whole different ball game
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  if you kind of direct your attention to the strategy
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  versus the actual list price
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  you might have better success
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  getting the list price that
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  you know will help sell the home faster
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  for the most amount of money
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  that's just a pro tip
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  if you are interested in learning more about that
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  we can book a call below
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  definitely reach out or comment anything
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  and I will get in touch with you
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  and we can talk about the difference between selling
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  the strategy and selling a
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  a list price that you're going for
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  and then
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  the biggest one that I focus on in my business is
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  where are you going the sellers are becoming buyers
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  and as a buyer in a different market
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  you have to understand
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  they're probably in a very low interest rate
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  they're probably looking to move up
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  and they're probably looking to
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  you know have the next home in their
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  their dream life or maybe it's their dream home
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  maybe it's their forever home
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  especially if they're first time home sellers
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  so you have to understand where they're gonna go
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  and
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  they need to understand what that's gonna look like
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  because when you go up 100
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  200 300 thousand dollars in value right
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  and let's be real their own home might have gone up
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  three hundred thousand dollars in value
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  so now
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  they're shopping about 500 to 600,000 dollars in value
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  higher than they were
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  back when the interest rate was 2%
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  now the interest rate's 7 so is it even possible
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  is it even worth it to put all of this time
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  and effort and energy into selling this house
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  when their dream is actually unattainable
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  because of the cost of everything has gone up
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  yes they have the equity
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  but are they really ready to have that step up
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  in value based on the interest rate
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  that's what you need to know
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  and we need to know where they're going
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  what their plan is yes
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  sometimes people have to move
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  life changes whatever that is
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  but if it's a move up buyer
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  a first time home seller
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  and they're looking at making that move
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  well first of all
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  let's make sure that looking at some houses
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  by looking at some houses that that
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  you know next level is available to them
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  and then
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  let's compare that price point with the interest rate
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  with understanding what their basic equity might be
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  that they could put in from their previous house
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  into the new one and see if that number even
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  you know resonates
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  because I know that
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  when I put a number in front of a lot of sellers
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  that I do
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  you know what the buyer might pay if
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  you know their first time home buyer on their home
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  just like they were they are shocked to seeing that
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  that information so understand that that's a huge piece
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  and in this rising inventory market
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  we need to be aware of that
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  we need to be aware that
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  sellers are still thinking that
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  it's gonna be easy to sell
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  because it was so hard for them to buy right
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  and it was easy for seller when they bought
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  well the truth is
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  is in this rising inventory market
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  we need to price uh
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  to position right
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  not just price to sell we need to have a position
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  we need to have a strategy
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  that goes into that and so
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  using timelines and systems and processes
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  and understanding that yes
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  it's probably worth it to repaint the interior
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  yes it's probably worth it to
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  you know
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  redo the floors because people are paying so much money
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  right for that house
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  as a first time home buyer
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  likely not guaranteed
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  but if they were a first time home buyer
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  when they bought it
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  now they're a first time home seller
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  it's likely that a first time home buyer will buy it
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  they're gonna sell it to the Avatar
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  they were when they bought it
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  and if that's the case now
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  this home that was worth 300 is now worth 600
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  with an interest rate that's four points higher
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  this is what they're gonna pay
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  they're probably not willing to
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  you know take that carpet credit and take that on
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  you know based on splitting it 50 50
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  if the carpet needs to go
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  let's get it gone before that happens
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  all of these things are strategies that you can utilize
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  when you're talking to these first time home sellers
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  for them to understand what's coming right
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  teach them to think like a buyer
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  as they put their house on the market
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  and what are the things that
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  you know irk them
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  yes sometimes it's hard
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  sometimes it's hard to walk into a house and say
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  you need to take all your pictures of yourself down
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  you need to declutter looks like
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  you know a bomb
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  went off in here don't say that
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  but it's harder for them to see that
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  so you as an agent
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  need to understand how you can frame these things
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  and how you can get to the result
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  without maybe being Uber direct about it
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  unless that's your personality and then you do you
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  but likely
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  you'll be attracting people that appreciate that
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  and love the directness of your personality
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  so as we do with first time home buyers
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  take a little bit of time
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  make sure you're educating
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  walk them through the entire market context
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  show off your skills
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  and your knowledge of the market in their neighborhood
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  which you know is available online for sure
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  use your tools
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  but if you're able to demonstrate that market knowledge
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  and you become the market expert
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  things become a lot easier down the road
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  and then let's talk about introductions to vendors
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  do you need to get you know
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  a sewer line insurance those kind of things
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  a home warranty ahead of time
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  that could save tens of thousands of dollars
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  on the inspection does that make sense for this client
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  for this property have those things
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  and introduce them to your trusted vendors
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  it's a major referral opportunity for those vendors
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  to refer you future business
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  if you're referring them out
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  every possible chance you get
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  including pre listing not just at the inspection
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  and position yourself
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  as a tour guide for what is coming right
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  understanding that the marketing is
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  a whole another ball game
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  what's the marketing look like
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  how are you gonna actually market this property
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  because putting it in the MLS is just not where it's at
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  so if you want more listings
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  you want better referrals
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  set up a system let's sit down and talk about this
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  every agent that joins me
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  has access to my entire listing playbook
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  my entire listing system with exactly how I can do it
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  how I do it for absolutely free
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  so if you're interested in partnering with
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  like minded individuals
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  you can do that at the Re Agent Wolf pack.com below
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  but if you're happy where you're at
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  and you just want to chat about this
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  and implement some of this into your business
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  I'm more than happy to help you get a win
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  today in real estate like comment subscribe
• 9:54
  we'll see you on the next one bye bye