For Sale By Owner Real Estate Blog.
A few years back when I was teaching “Introduction to Real Estate Consulting” at boards and associations, it was common for agents, brokers, and managers who didn’t understand consulting to dismiss it as “discounting.” This type of comment was always amusing to me because, in fact, I developed my consulting model as an anecdote to discounting.
BOCA RATON, Fla., Oct. 24 /PRNewswire/ — Foreclosure.com today announced a partnership with Indymac Bank(R) - the seventh-largest savings and loan in the nation - to market and facilitate the sale of thousands of Real Estate Owned (REO) properties via the Internet, adding another major national lender to its growing stable of prominent data sources.
Most agents approach FSBO’s with one thing in mind: getting the listing. A good agent can differentiate themselves from the others and create some earning opportunities by looking beyond the listing.
NAR’s 2003 Home Buyers and Sellers Profile reveals 74 percent of sellers will list with the first person that has contacted them. In the FSBO market, this can lead to a problem, because it usually takes 30-60 days before that FSBO is discouraged enough to list their property. So, what do you do in the meantime?
The most successful agents are building relationships with those sellers and providing value. In his book Influence, Robert Cialdini makes the case that most people are very uncomfortable owing someone else and will do whatever they can to even the scales. As an agent provides value for a seller, that seller feels more and more obligated to balance the score. He call this the Reciprocity Principle.
So, what ways can you make it easy for them to give back to you without listing?
Here are some ideas:
If your focus is on creating value and discovering how this could be a win-win, you will be seen as a helpful professional, instead of a pushy sales person. Many agents ignore FSBO’s as a way to build their businesses because it feels too aggressive for their natural style and way of connecting with others. By focusing on these ancillary areas, this profitable market niche can create a source of steady, new income.
It is a sad commentary on how ineffective our industry has been at educating the public to the value of a real estate agent that most For Sale by Owner (FSBO) sellers believe that it is easy to sell a home. They think a sign in the yard, an ad in the paper and an open house will get their house sold. Sometimes they are right!
The private equity party may be over but the news hasn’t yet made it to the real estate buyout funds, which are seeking $105-billion (U.S.) in new capital, a sixfold increase from January, 2006.There are 206 real estate-focused funds in the market raising capital around the world, an explosion of growth in what was once a niche sector of private equity, according to data from London-based Private Equity Intelligence.
TUCSON, Ariz., Oct. 2, 2007 (PRIME NEWSWIRE) — GainClients, Inc. (Pink Sheets:GCLT), a provider of On Demand real estate marketing, is preparing to launch its new marketing software, E-Listing Advantage, to the For Sale By Owner (FSBO) market. E-Listing Advantage is an innovative marketing tool for mortgage professionals that allows loan officers to provide a syndicated listing service for FSBO listings (sellers) for free.
NEW YORK, Sept. 17 /PRNewswire-FirstCall/ — American Real Estate Partners, L.P. (the “Company”). On August 9, 2007, the Company announced that it would be changing its name to Icahn Enterprises L.P. That change becomes effective today pursuant to a Certificate of Amendment to the Certificate of Limited Partnership filed with the Delaware Secretary of State.
As Canada’s real estate market continues to defy popular predictions of a slowdown, privately-transacted sales are keeping pace as homeowners look for ways to pocket the fees usually collected by real estate agents. Many owners are now choosing to bypass real estate agents to sell their homes themselves in order to save the average six per cent commission most agents charge. On a $250,000 home, this can amount to $15,000, a hefty sum for most Canadians.
CHERRY HILL, N.J., Sept. 12 /PRNewswire-FirstCall/ — Commerce Bancorp Inc. announced today that William G. Palkewick has joined the Bank as a Vice President and Real Estate Manager.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050104/PHTU036LOGO )
Prior to joining Commerce, Palkewick served as the Director of Real Estate Development for the Toys “R” Us corporation. During his 21-year tenure with the company, Palkewick successfully completed more than 250 transactions involving Toys “R” Us sites in regional shopping malls, strip shopping centers, and free-standing stores throughout the mid-west and southeast United States. His responsibilities included strategic real estate analysis and planning, demographic analysis, site location research, retail market analysis, and the negotiation of related legal documents.
“Bill’s extensive commercial real estate development experience with a growth-oriented retail chain will make him a valuable addition to our Real Estate Development team,” said Robert Falese, President and CEO of Commerce Bank N.A. “Bill’s proven track record at Toys ‘R’ Us is an ideal match with Commerce Bank’s retail strategy. His focus on the successful completion of real estate transactions will help to foster the ongoing growth of the Commerce network.”
Singapore recently played host to the largest gathering of Vietnam’s Real Estate industry ever to take place in the region. Some 176 delegates from China, Hong Kong, Indonesia, Malaysia, Singapore, USA and Vietnam attended the inaugural Vietnam REAL ESTATE 2007.
The event also coincided with the visit by the Vietnamese Prime Minister Nguyen Tan Dung who led a large delegation comprising cabinet members and business leaders to Singapore on 13 and 14 August
The initial aim of Vietnam REAL ESTATE 2007 was to unite only parties from Singapore and Vietnam. Instead, more than 170 delegates from seven countries converged in Singapore to network and to enter into partnership to develop Vietnam’s Real Estate. The organisers were pleasantly surprised by the overwhelming response.
The two-day event was jointly organised by HCM City’s Investmnet & Trade Promotion Centre and Synergy Int’l Events Pte Ltd from Singapore. Mr. Simon Cheong, president of the Real Estate Developers Association of Singapore officiated at the opening ceremony on 13 August. This was followed by a first round of networking amongst the delegates over a welcome reception.
The senior management of the United Overseas Bank Limited led by Mr.Francis Lee, Senior Executive Vice President hosted a Developers Networking Dinner the same evening in honour of the visiting real estate delegations from HCM City and Phu Yen Province.