5 Reasons Realtors Fail at Social Media

As a Realtor or broker, you know the value is there in social media, but despite your best efforts you’re still struggling. How can you change your social media luck?

Below are five reasons many Realtors and brokers fail in social media and how you can turn it around:

1. You have no plan. Social media is one tool in your marketing toolbox. Make sure you create your strategy BEFORE you try to implement one. Schedule time every morning and evening to devote to social media. 30 minutes in the morning and 30 minutes in the afternoon/evening. If you don’t have a plan – it will take you twice as long!

2. You don’t have great content. This is a biggie. If you’re finding it difficult to engage people through social media, then it may be a sign that you’re not giving them enough to engage with. It doesn’t matter how likable, charismatic or helpful you are, if you’re posting things of little interest, no one is going to care about the content OR your brand. Where to get good content? Click here for a recent post I did about sources for content for Realtors.

3. You put the wrong person in charge. Social media is not something you can delegate 100% as a Realtor or Broker. You can delegate some of it – but the personal interaction that makes social media work, has to come from you. Realtors or brokers that tend to do well are the ones that are personable, humble, and that genuinely enjoy talking to people and being social. If that person is not you then you may have a difficult time attracting fans or followers. Consider hiring someone to help you, whether it’s an assistant or intern.

4. You’re not listening. There are two different kinds of Realtors in social media. Those that listen, and those that pitch their listings . Realtors who engage in the latter typically have a difficult time gaining traction. While you can definitely use social media to target new clients and pitch your listings, you have to develop a relationship with your fans and followers first. Realtor and broker Facebook Pages that succeed are the ones who are able to integrate personal interactions and also offer them something they’re actually interested in (i.e. community events, local school info, market stats, etc.) – and they do so on a consistent, daily basis. They can offer that info that because they’ve listened. That’s the power of social media

5. You’re just ‘dabbling’ with it. If you spent $5 on a newspaper ad and saw no return, you wouldn’t be surprised. However, we all know that most newspaper ads (for real estate) can run $400-800 each (SF Bay Area pricing.) If you spend nothing on social media, then you’re going to see the same return. And that’s where many Realtors and brokers are right now – they’re ‘dabbling’ or ‘experimenting’ in social media, but they’re not dedicating any resources to it. They’re not investing their time to learn, to keep up with what’s new, and they’re not paying for tools that will help them monitor and benchmark what they’re doing. Just like with anyone else, the investment you put in is going to dictate the value you get out of it. Realtors or brokers who ‘dabble’, should expect to get dabbling results. Shameless plug: working smart in social media will be a hot topic at this year’s Real Estate Connect SF – check out the program!

Above are five of the biggest reasons I’ve seen for why Realtors and brokers don’t get as much out of social media as they could. What have been your experiences with it? Leave me a comment below!

by Katie Lance for www.futureofrealestatemarketing.com

5 Fixes to Gain More Clients

Errol Samuelson, president of REALTOR.com, identified ways real estate pros can make quick fixes to instantly attract more quality leads — that is, buyers serious about entering a transaction. His fast-paced presentation at the REALTORS® Midyear Legislative Meetings & Expo spelled out the problems and offered solutions for building a Web audience, making contact with leads, developing meaningful communication, cultivating leads and clients, and following up after the transaction.

Here’s a look at his top five:

1. Audience: A changing dynamic between the buyer and real estate pro is evident in NAR statistics: In 2001, 48 percent of buyers purchased properties their practitioners found for them. That figure dropped to 36 percent last year.

“You have a larger audience out there of people finding homes themselves and bringing them to their agents,” Samuelson said.

The Problem: Finding content and resources to add to your Web site that meets the needs of the audience you’re trying to connect with.

The Fix: You can look at real estate sites in three distinct ways. A “type A” site publishes content and news stories. It will generate lots of traffic, but visitors tend to read one article of interest and leave the site. “It’s a great way to build brand; a great place to build awareness,” Samuelson said.

The “type B” Web site offers a lot of market stats and trends. Again, this site will get hits, but often the visitors may not always be potential buyers, Samuelson says.

A “type C” site specializes in searches and listings. These sites tend to keep visitors engaged for longer periods of time — often the visitors are in the early stages of looking for a home.

Samuelson says the key is to know what to expect from these sites and create a blend of all three.

2. Contact: People are twice as likely to phone an agent rather than use e-mail when looking at homes online, Samuelson said. With a mobile app, the potential client is 10 times more likely to call vs. use e-mail.

Why is mobile so important? “This is one of the fastest product adoptions ever,” Samuelson said. There were more than 1 billion app downloads in the fourth quarter of 2009 alone.

The Problem: When a potential client does make a call, Samuelson said statistics show agents only answer 30 percent of the time. Furthermore, 45 percent of the calls go to voicemail (but over half won’t leave a message), 17 percent ring but voicemail never picks up, and 8 percent get the wrong number.

The Fix: With the shift to mobile devices, answering the phone becomes more important than ever, Samuelson said. If you can’t be there to answer, make sure someone can. And be responsive to voicemails right away.

3. Communication: First-time buyers made up 47 percent of the market last year. Your job is to communicate with relevance to the people who are buying.

The Problem: Call reluctance. The main reasons for call reluctance, Samuelson said, is that practitioners don’t know who they are calling or what to say.

The Fix: Approach communication as a way to help potential clients understand the home buying process. Realtor.com offers a first-time home buyers’ guide you can find at http://www.realtor.com/freetraining/midyear.

Don’t forget to put your contacts into a database — it’s too hard to do it any other way, Samuelson said. Track who is opening your e-mails; list interest signs and personal interests, too. This way you’ll feel more comfortable engaging them on topics they prefer, Samuelson said.

4. Cultivation: To cultivate is to grow.

The Problem: Not tailoring your approach to grow relationships with potential clients in ways that are lasting and meaningful.

The Fix: Samuelson said that mixing up your forms of communication can make a huge impact on interest level. Sure, use regular phone calls and e-mails, but also send quick messages on personal matters. Use market trends as a conversation starter. Meet in person for coffee; introduce the human element.

And don’t forget to ask for feedback on the job you’re doing. The idea of authenticity is important when providing relevant information that’s fact-based.

5. Transaction: The close of a sale is not the end of an agent-client relationship – it’s just another phase.

The Problem: Practitioners get overwhelmed dealing with the transaction or don’t have a system in place to continue their interaction with a client. According to the 2009 NAR Buyers and Sellers Survey, 21 percent of home owners don’t hear from their agent again. Approximately 43 percent hear from their agent occasionally, 13 percent monthly, and 9 percent weekly.

The Fix: Continue your cultivation after the sale, which is becoming easier than ever with social networks and blogs.

by Erica Christoffer, REALTOR® Magazine

Choosing Your Real Estate Agent

It is recommended that you have a real estate agent help you with your transactions. But how do you know which agent to select? The choice can be difficult, but here are some questions to ask during potential agent interviews.



1. Do you have references from past clients? Ask their past clients if they were pleased with the service the agent provided them. Did they communicate in a timely manner, and were they kind and courteous?

2. What does being an agent mean to you? By asking this question you'll be able to see what their work ethic and business philosophy are. You want an agent that puts their priority on your happiness first, and their commission check second.

3. How long have you been in real estate? This is not to say that someone new to the business would not be a great asset. However, depending on the nature of your transaction, you may feel more comfortable with an agent with a proven record of sucess.

4. How many homes did you sell last year? Just because an agent has been in the business for a while doesn't mean they've been successful. You don't want to have your home on the market for months, when a savvy agent could have it sold in weeks.

5. What designations and certifications do you hold? Beyond holding a real estate license, agents can opt to expand their education and skills. There are a multitude of courses and programs available. In general, these certifications mean a more specialized agent.

6. What is your marketing plan? In an ideal world a house would just sell itself, right? But the market swings back and forth on a constant pendullum between being in favor of sellers and then buyers. If you are selling a house in a buyers market, then you need a solid marketing plan to make your home stand apart. Open houses, email campaigns, webcasts, and brochures are just a few of the items your agent may use.

7. Do you do dual agency? Dual agency is when the agent represents both the buyer and the seller. This is legal, as long as disclosed, but it may not be something you're interested in signing up for. Be sure to ask.

8. What are your home sales stats? It is important to ask them how long it takes them on average to sell a home. And then ask what the area average is. They should know this information off the top of their head, or at least have the statistics readily available.

9. How do you communicate with your clients? There is nothing worse than not being able to get ahold of your agent, with questions, for updates, and for feedback. In today's modern world of technology, there is no excuse for them not to stay in constant contact. There is email, texting, cell phones, and a myriad of other options. Ask what they use to stay in touch with their clients.

10. Do you have other connections? Meaning, will they be able to refer you to contractors, mortgage lenders, banks, landscapers, pool maintenance crews, and the like. This will be especially important if you are new to the area.


by Carla L. Davis for RealtyTimes.com

Good Buy or Goodbye?!

Tips to shopping for foreclosed, short-sale and flipped homes

It has a mountain out back and, apparently, a mountain of debt.

Weeds and overgrown landscaping obscure a for-sale sign in the front of the foreclosed home northwest of Deer Valley and Cave Creek roads in north Phoenix.


"This one is not too bad," real-estate agent Gary Holloway of Zip Realty said of the long-vacant home. "They get no love."

The four-bedroom house, built in 2006 by Courtland Homes, is missing a dishwasher, refrigerator and built-in microwave oven. It also has some quarter-size holes in the kitchen wall. Otherwise, it appears to be in reasonably good condition.

The foreclosed home in the Eagle Bluff subdivision needs appliances, new carpeting and paint at a cost of at least $15,000. The two-story 3,182-square-foot home has a good view of one of the unnamed Union Hills beyond the back wall.

And it could be a good buy for a cautious buyer who knows what to look for in a foreclosure.

Listed at $210,000, the home was in escrow and could become yet another of the thousands of foreclosed Valley homes that buyers have acquired from banks.

Arizona had 21,442 foreclosed homes in the first quarter of this year, according to RealtyTrac.

The state has the nation's second-highest foreclosure rate behind Nevada, with one in every 49 homes with a mortgage receiving a foreclosure filing in the first quarter, according to RealtyTrac. That's triple the U.S. average.

Just fewer than half of Phoenix's 5,183 home sales in the first quarter were foreclosures, Zip Realty reported.

Buyers of foreclosed homes can save tens of thousands of dollars on the purchase price. But real-estate agents warn of pitfalls.

Jeff Barker of Diamondback Realty in Scottsdale said buyers must rely on a home inspection to protect themselves when buying a foreclosed home.

No disclosure of missing appliances or damage is required at the trustee sale of a foreclosed property.

"You've got to do your due diligence," he said. "And hire a good real-estate agent."

Buyers often make a big mistake in underestimating the cost to remodel a foreclosed home, said Barker, who has listed about 75 homes for banks.


Learn home market

Ron Bernier, a broker with Zip Realty, said buyers can better understand the market value of a property by driving past it and seeing conditions in the neighborhood.

Buyers can expect to be bidding against others for foreclosed homes in the lower price ranges. Plus, deals often fall apart when a property does not appraise at a high enough price to satisfy the new lender.

Holloway of Zip Realty said buyers might also consider buying a previously foreclosed home that an investor already has remodeled, what's known as a fix-and-flip property.

The traditional resale market is struggling to compete on price with the distressed properties and fix-and-flip homes, he said.

To reveal market options, Holloway visited the Eagle Bluff neighborhood to show the foreclosed home mentioned earlier, as well as a similar short-sale home and fix-and-flip home.


Deal or no deal

The short-sale home, slightly smaller than the other two, was listed at $240,000.

It was in better shape than the foreclosed home, with nice cabinets and light fixtures in an upstairs office. But simulated-wood flooring had been poorly installed, and most buyers would likely choose to repaint the home's neon-colored bedrooms.

Holloway also warned that a short-sale price is not "real" until a bank accepts an offer from several bidders.

"Don't fall in love with it, because it's not real until you own it," he said of a short-sale home.

The same goes for foreclosed properties. Holloway advises clients to keep looking because distressed-property deals often take a long time to complete and can fall apart completely.


Home shows well

The fix-and-flip home he showed was nicely staged.

"Investors know the drill," Holloway said. "It's like a model home. They even installed a new doorbell and coach light at the front door."

Inside, new granite countertops, back splash and cabinets had been installed, along with new tile, carpeting and kitchen appliances. It comes with a home warranty.

The house listed at $270,000, but the investor had agreed to a price of $265,000 before a buyer got cold feet.

At $265,000, the investor stands to make about $15,000 in profit, Holloway said. The previously foreclosed home sold for $195,000 and the investor spent about $35,000 on remodeling it. The investor also will spend about $20,000 to market the home and pay closing costs and commissions.

The extra cost of the fix-and-flip over the foreclosed property might be a better deal for someone wanting a home that's move-in ready.

However, Barker of Diamondback Realty warned that buyers should be careful with fix-and-flip homes because sometimes the remodeling is cosmetic, with cheap carpet, paint and generic appliances.



Read more: http://www.azcentral.com/business/realestate/articles/2010/04/23/20100423how-to-buy-foreclosure0424.html#ixzz0o71PVKdP

10 Commercial Real Estate Terms You Should Know

Whether you own or rent your office space, property costs are one of the largest business overhead expenses. That's why it's important to comprehend the full ramifications of taking over the title to a property or entering into a lease agreement. Before you sign a lease, work with a commercial real estate broker with
a proven track record, and consult with an attorney skilled in real estate law. You should also familiarize yourself with some common real estate terms:

1. Appraisal: a written report by a state-licensed professional that includes an unbiased analysis of the property's value and the reasoning that led to that opinion. An appraisal report is required for any property sale.

2. Broker: an agent who brings together a buyer and a seller, or a landlord and a tenant, in a real estate transaction. All brokers must be licensed by the state in which they work. Most work on commission, and the landlord or seller usually pays the fee.

3. Build-to-suit: a method of leasing property in which the landlord makes improvements to a space based on the tenant's specifications. The cost of construction is generally factored into the lease terms. Most build-to-suit provisions apply to long-term (10-year) leases.

4. Concessions: benefits or discounts given by the seller or landlord of a property to help close a sale or lease. Common concessions include absorption of moving expenses, space remodeling, or upgrades (also called "build-outs"), and reduced rent for the initial term of the lease.

5. Escalation clause: a clause in a lease that allows the landlord to increase rent in the future. Rent increases dictated under an escalation clause may be charged in various ways, including:

• A fixed increase over a definite period
• A cost-of-living increase tied to a government index, such as the tax rate
• An increase directly related to increases in operating the property

6. HVAC: an acronym for "heating-ventilation-air-conditioning" system. In a commercial building, the landlord generally is responsible for maintaining the HVAC.

7. Lease: an agreement by which the owner of a property (the "lessor") grants the right of possession to a tenant (the "lessee") for a specific period of time (the "term") for a predetermined amount of money (the "rent"). A "leasehold estate" is the space occupied by the tenant. Common types of leases include:

• A straight, or flat, lease, which stipulates that the same periodic payment (usually monthly) be made for the entire term of the lease.
• A percentage lease, which uses a percentage of the net or gross sales to determine the monthly rent. This is most often used in retail properties and with a minimum base rent.
• A net lease, which requires the tenant to pay maintenance, taxes, insurance and so on, along with a fixed rent. This is also called "net-net-net" or "triple net."

8. Lien: a legal claim filed against a property for payment of a debt or obligation. If a property owner fails to pay a creditor, for example, the creditor can place a lien on the property. A lien can halt the sale of a property.

9. Sale-leaseback: a transaction in which an owner sells a property to an investor, who then leases the property back to the original owner under prearranged terms. Sale-leaseback deals offer the original owner freed-up capital and tax breaks and the investor a guaranteed return and appreciation.

10. Sublease: a lease given by a tenant for some or all of a rented property. For example, if a tenant rents 20,000 square feet but only ends up needing 10,000 square feet, they may want to sublet the extra space for some or all of the remaining term of the lease, providing they continue to occupy and pay rent for the property.
Read Real Estate Considerations When Buying a Business to get a sense of the aspects of the property that you'll want to investigate before your sign any agreement. Not the least among your considerations should be the person you work with to identify real estate opportunities and bring the deals together. Make sure that you find the right real estate professional to guide you through the process and help you find the kind of property you need. How to Select a Realtor or Real Estate Broker recommends some ways to locate the right person to help you.

Real Estate Investing Tips & Insight!

Real Estate Investing is a tough business right now. While the business of buying and holding real estate as a long term investment remains a legitimate and viable strategy for wealth building, profit is no longer guaranteed as it once appeared to be.

With that in mind, the astute real estate investor will consider some specific real estate investment concepts to complement the “tried and true” strategy of long-term buy-and-hold investment houses:



* Virtual Real Estate Investing – the term “virtual real estate investing” has multiple meanings, including the use of the internet to buy and sell property, and the purchase and development of internet websites as a means of generating revenue. With an objective analysis, one can see the conceptual similarity between physical real estate and internet properties including entire websites and even individual pages controlled on larger sites like Facebook, Squidoo and Google Knol. Increasingly, real estate investors are seeing the clear opportunity presented by developing web “properties” into revenue generating assets much like physical rental properties. This trend is on the rise and will continue for the foreseeable future.

* Bulk REO – the prevalence of foreclosures in our economy has put mortgage lenders into a difficult position. With large pools of foreclosed properties on their books, it is no longer efficient for these lenders to sell their foreclosed properties one-by-one through real estate brokers. As such, mortgage lenders are increasingly opting to sell their foreclosures in “packages” to well-funded investors, at steeply discounted prices. Bulk REO investing is a rapidly emerging trend and will continue to be a significant tool for real estate acquisition and disposition until such time as the current foreclosure crisis abates and the foreclosure rate regresses to more normal historical levels.

It’s a different world in the real estate investment business. It would be very, very simple to think that the foreclosure crisis has caused the door of opportunity to be slammed entirely shut. Yet that’s simply not the case. When one observes the state of the real estate market, it is undeniable that fundamentals matter more than ever. For example, the selection of the local real estate market is of greater importance than ever, considering the huge disparity that exists among the thousands of real estate markets across the United States. Additionally, the role of regulatory compliance is greater than ever given the activist nature of the current presidential administration.

Without a doubt, there are very major challenges in today’s real estate investing market. But with some persistence, determination and creativity, there is still plenty of opportunity.

7 Great Twitter Tips 4 Affiliate Marketers

Affiliate marketing is a fantastic way to make money online. Twitter is a great way to increase your sales. Just be careful so your Twitter experience is a pleasant (and profitable) one.

Here are 7 tips that affiliate marketers should keep in mind:

1. Be personal with your tweets. Don't send out the same tweet over and over or to different people. If people are tweeting about needing holiday presents, don't send, "Hey! Shop at my site www.blahblahblah.com" to everyone! Tweets should be personal, not canned.

2. Be genuine with tweets. Don't try to be something you are not.

3. If you do send a sales link, send it as a natural part of the conversation. If you chat with people, eventually they will ask what you do (or you can drop subtle hints) - then you can mention it.

4. Don't send a direct link to your product. Send a link to your blog or a general informational website. Don't be so blatant about trying to get a sale.

For example, if a Twitter mom complains about not doing well with potty training Junior, don't send her a link to your ebook on potty training; instead, send a link to your blog post that discusses potty training ideas (that can include your affiliate link to the ebook). You will get a much more favorable reception.

5. Be useful and helpful. Not every tweet has to be about "you, you, and you". Take time to tweet about others and be a helpful part of the community.

6. Listen to your followers. Ask questions, and then help them out. You can get great feedback from tweets. (I get lots of ideas for info products and affiliate products from the feedback I receive from my followers.)

7. Use tweets in moderation. Don't tweet about every single thing you do. (Like "going to the store" - do people really care?) Don't send direct affiliate links. Don't toot your own horn all of the time. Let people hear from you, but don't be too chatty.

Used correctly, Twitter is a great way to add to your profits. Just make sure to use it wisely.

5 Great Tips 4 Real Estate Investors!

Investing in real estate is one of the most attractive ways available to most people to set themselves up financially for life. Moreover, real this can be done by almost anyone by starting with one property and building up slowly and safely.

A lot of people practice property investing as their core profession and, in fact, can make a lot of money that way.

Real estate investing is really an art and, like any art, it takes time to master. The key, of course, is to buy at a lower price and sell at higher price and make a profit even after paying all the costs involved in the two (buy/sell) transactions. Although another way is to buy and hold property over the long term. Generally, people are of the opinion that investing makes sense only when the values are on the rise. However, real investing for profits is possible just about any time (and as I just said, real estate investing is an art). Here is a list of tips that can make investing in property profitable for you:

1) Look for public auctions, divorce settlements and foreclosures (bank/FHA/VA): Since quick settlement is the preference here (and not price), you might get a property at a price that is much lower than the prevailing market rate. You can then make arrangements to sell it at the market rate over a short period of time. However, make sure that the property is worth the price you are paying.

2) Looking for old listings: The old listings that are still unsold may provide you with good real estate investing opportunities. Just get hold of an old newspaper and call up the sellers. They might have given up hope of selling that property at all and with a bit of negotiation you can get the property for a real low price.

3) The hidden treasure: A really old (and dirty) looking house may scare off buyers. But this might be your chance to buy at a discount that can yield good profits. So, explore such properties and check if spending a bit on them can make them shine. You can get these at very low prices and make a big profit in a short time.

4) Team up with attorneys: There are a number of attorneys who handle property sales on behalf of sellers or in special circumstances (like the death of the property owner). They might sometimes be looking to dispose off the property rather quickly and hence at a low price. Be the first one to grab such real estate investing opportunities and enjoy the profits.

5) Keep tab on the newspaper announcements: Property sell offs due to deaths, divorce settlements, immediate cash requirements and other reason are frequently announced in local papers. Keep track of such real estate investing avenues.

Using the above tips you could pick up property at a discount and onsell for a profit or you could rent out the properties and use the rent to boost yor income. If you do this enough times you could even retire and live off the rents.

3 Real Estate Investing Tenets That Many Experts Don't Fully Know

When you think of virtual real estate investing, a number of things may come to mind. You may think of real estate investing as real estate portfolios and real estate retirement plans and hard money lenders, or you might focus on short sales, bulk reo investing and virtual real estate investing. You likely also are wondering how these things factor into real estate investors roles in the current economy.

There is a lot of information out there on real estate investing. Knowing the basics of real estate investing education is a good way to get the most out of every lesson. Short sales, bulk reo sales, virtual real estate and general real estate investor abilities all are improved by knowing some basics of real estate investing. Check out these three real estate investing tenets that many experts do not fully know:

1. You will always end up with a positive yield when you invest in real estate investing education. Every real estate deal has the potential to create thousands of dollars in potential wealth. The knowledge of how to get that wealth is the key to your success. Learning as much as possible about real estate will increase your odds of success whenever you do a real estate deal. Small investments yield big results when you invest in learning and then implement what you learn.

2. You can succeed in real estate investing regardless of the state of the economy. Lots of people believe that real estate success is only possible in a booming economy. Actually a poor economy is not a bad economy for real estate investors. Likely you will be able to find properties at deep discounts. Also, you might find deals that simply could not exist in a booming economy. Real estate investing often is what turns the tide for poor economies. Short sales, bulk reo sales and virtual real estate all can thrive when the economy is not. You will be able to save yourself and others from serious financial difficulties if you know how to do these deals.

3. A lot of money is not vital to your success as a real estate investor. You can succeed in real estate investing no matter how much money you have. There are lots of types of deals that you can perform with the money of other people. Private lenders will lend you their money if they think you are a good investment. The best way to look like a solid investment is to have an in-depth knowledge of real estate investing. This will help you show private lenders that you are a good investment if they do not know about real estate investing themselves.

A good deal of wealth can be generated with real estate investing. You will be able to create an income no matter what the economy. You can create success for yourself using knowledge of real estate investing, short sales, bulk reo sales and virtual real estate. Knowing the basics of real estate investing will help you succeed as a real estate investor. Knowing some real estate investing basics and applying them will help you succeed as a real estate investor.