You can never fully exhaust ideas on how to generate fresh leads in the real estate industry. With new online tools, sometimes simple relational strategies don’t get the attention they still deserve.  These old-school tactics may not have the same sizzle as the latest ideas, but they’ve stood the test of time and shouldn’t be abandoned. Add new techniques, but don’t stop the tried and true things that work.

Work expired listings: Where else can you find a market that wants to sell, understands the value of using a realtor, and is in need of one? Expired listings are low hanging fruit! The majority of listings expire in the last few days of the month, so plan your schedule to commit time to follow up with these prospects. You may have to locate a phone number through your own legwork or even go to their doors. But, because these are warm leads, the extra work can definitely pay off.

Keep up your current listings – When you make sure the little things are done well, people trust you to handle the big things, too. It’s how you build a reputation as a superior real estate professional. Apply this to your current listings by making sure simple things are in order. Is your signage in good condition, hanging by a corner, or worse, blown over?  Are the sales flyers replenished?  True, they are little things, but when your name is attached, they matter.

Handwritten notes:  Writing words on paper is becoming a lost art, but in a relational business like yours, it stands out in sharp relief from emails and text messages. Take the time to jot a few sentences to a prospect you’ve met and drop it in the mail. It doesn’t replace the other channels of communication, but it’s a nice touch that’s becoming increasingly rare.

Leave your pen behind:  Do promotional items work? The Promotional Products Association International (PPI) conducted a study that showed 76% of people who received a promo item could recall the name imprinted on it. The most commonly owned promo products in the US, according to PPI are “writing instruments”. Inexpensive pens are easy items to hand out, store, and are willingly used by a majority of people, making it a good item to try.

Source: Realtytimes.com, activerain.com, ppiblog.com

In just a few weeks, the busy season will begin. Are you prepared? In this month’s Mortgage Minute with Shelter Mortgage President Jill Belconis, we’re going to talk about sales ideas to jumpstart your business. You might already be doing some of them – but hopefully you will find some new ways of doing things in 2012.

Then, watch as some of our partners share business tips that have worked for them.

Did this month’s Mortgage Minute episode, spark an idea? Share it! Post a comment on our blog or go to our Facebook page and start a conversation. We want to hear from you!

It may come down to the photos! Most home sellers don’t hire a professional photographer – they rely on their real estate agent, so here are key things you should know about how to take great photos:

1. Quality vs. quantity: Some properties feature 20 photos, but not one of them is attractive.  Often, they’re dark, out of focus, or neglect to show key areas of interest to buyers. Error on the side of fewer photos done well vs. lots of photos that are shot poorly.
2. Prioritize exterior shot: This photo is all about curb appeal. This is the main photo that appears in MLS and it’s what determines if a buyer looks deeper into the listing. To take the best possible exterior shot, take it from 10-20 feet above the street level and with the sun behind you, illuminating the front of the home. If it contains a porch or entryway that’s always in the shadows, consider shooting the photo on a hazy or cloudy day so the contrast is minimal.
3. Seasons matter:  It’s August, but your listing still shows snow piled up on the roof? That’s a big no-no. It immediately lets the buyer know that the home has been listed for a long time, and plants the seed that something is wrong with it.  Consider taking new photos in the spring and fall, to keep it fresh and current and to show the landscaping at its best.
4. Stage the rooms: You’ve been told to remove all clutter and personal items when showing a home. That’s true, but when photographing a room, a few personal items make the photo livelier and more interesting. Just remove them again when you hold your open houses or bring clients through the home.
5. Angles and lighting:  You don’t have to be an architectural photographer to take decent photos if you do two main things… work with your lighting and use angles appropriately. Inside, turn on as many lights as possible when taking a photo, and fill in darker rooms with additional lights. Draw curtains or blinds, making sure they are level if sunlight causes problems with the photos. Shoot rooms from an angle to make them appear more spacious.
6. Pets don’t sell homes: Your sellers may think their pets are cute, but buyers usually do not. Be sure dogs and cats, and their food dishes or litter boxes are hidden.

Source: Wall Street Journal, http://www.realestate.msn.com

Any business needs to minimize expenses to maximize its income. One way to reduce costs is by buying items at specific times when they are priced lower. Plus, it’s just exhilarating to get a deal! Here’s a sampling…

January

• Office furniture: New furniture comes out in February. Old models go on sale ahead of time.
• Calendars: They can be 50% off or greater after the New Year has begun.
• Digital cameras – Mid January trade shows herald new models, so pick up an existing model for less.

February

• HDTVs: The Super Bowl leads to great prices on televisions.

March

• Luggage: Buying luggage mid-season when travel is slow is always a good idea.
• Golf clubs: Buy last year’s model for less because new clubs are being showcased.
• Televisions: The fiscal year for Japanese manufacturers ends in March, so they want to move product.

April

• Office furniture: Right after tax day, you’ll find sales here.
• Laptops: Prices are lower this month for no clear reason.

May

• Refrigerators: Spring cleaning time.
• Party and picnic supplies: There’s nothing stopping you from using paper products meant for summer events as your everyday supplies.

June

• Paint: Hot days are not a painter’s best friend, but it sure makes prices on paint appealing.
• Tools: If you’re wondering what to buy dad, retailers have some ideas for you.
• Suits: In a month that celebrates Fathers, it seems only fitting.

July

• Desktop computers: its still summer, but computer makers are counting on back- to-school plans.
• Grills: If you can wait until after July Fourth, prices go down dramatically

August

• Desktop Computers: The back-to-school sales continue.
• Office supplies: Stocking up on school supplies make this a smart time to shop, even if you’re not a student.

September

• Bicycles: Autumn brings a chill to bike sales, so you can find one on sale in September.

October

• Tires: Fall Car Care Month is another chance to save.

November

• Electronics: Can you say Black Friday sales?

December

• Used cars: Dealers are trying to get their year-end numbers up in this profitable area of their business.

There are also some ways you can cut expenses in your day-to-day operations, even if you don’t have a major purchase to make.

Gas: Fill up before the weekend. Prices start to creep up on Thursdays.

Men’s apparel: Online sales seem to be best on Mondays and Tuesdays.

Shoes: Wednesday sales are common.

Sources: Lifehacker, Wisebread

A QR code is a quick response bar code. It’s square and contains a random assortment of markings encoded to link you directly with online content. A person must have a smartphone with a camera and a QR code reader app, which is a free download. QR codes link to online coupons, email signup, sweepstakes entries, and websites.

A recent study shows QR code use grew 300% from 2010 to 2011.  So, what? Well, it opens the door to unique opportunities in real estate since QR codes are designed to reach people “on the go.”

• Property signs: Perhaps the most powerful place to use a QR code! Homebuyers, actively searching for new digs, will often drive neighborhoods on their short list. Buyers want to find out as much as possible about any home before contacting an agent. By placing a QR code on the For Sale sign, you can link to your website where they can see the price, school district, and of course, interior photos. . And they can see all of that before they even drive away! Be aware that your website should be mobile-friendly since the buyer will be viewing it from their device.

Will buyers still call you if they can get the information they need from the sign? They will if they are interested… so get them interested by making it effortless to find out more about the house while they are still in front of it.

• Business cards: Include a QR code that links to a welcome video in which you reintroduce yourself. “Thanks for scanning the QR code on my business card. I’m glad we’ve connected. I would like to be a resource for you in the real estate market, whatever you might need… advice, information, or an agent when you are buying or selling a home…”

• Facebook link:  Make it easy for prospects to “like” your Facebook page or to friend you. Include a QR code on sales materials that link directly to your wall. Make sure to tell prospects what they can expect if they “like” you. Weekly market commentary? Discounts or free upgrades when building a home? Free tickets to a local home or remodeling show?  

We live in an impatient society where information is expected instantaneously. QR code usage is highest, not surprisingly, among those 25-34 – early adopters who also happen to be the same age as first time homebuyers! That alone makes it a technology worth considering!

However, the new regulations have also caused problems for consumers that weren’t anticipated. Because loan officers and realtors are not allowed to talk with appraisers directly about a property or its value, miscommunication can result – and often does.

So what can real estate professionals do to alleviate appraisal problems?  One key way is to work with a lender that’s experienced and has a system to work with appraisers so mortgages remain on track in spite of the communication challenge.

We have a fully staffed in-house appraisal desk that is 100% focused on working with appraisers. Why is that so important?

1. Follow-up: Our appraisal desk is staffed with experts who have years of experience in the mortgage industry. Their only concern is coordinating appraisals and addressing issues before they delay the mortgage closing. They understand the intricacies of a mortgage, what needs to happen when, and how to find workable solutions.

 2. Work with locals: We have the ability to work with local appraisers instead of national companies that don’t know the area. Local appraisers know the neighborhoods, schools, surrounding communities, etc., which are important characteristics that can impact a valuation. Their valuations are more likely to be accurate than an appraiser from across the country that knows nothing about the surroundings. 2) Turnaround may be faster because they are in such close proximity.

If our partners already use certain preferred lenders in their area, we’ll work to have them added to the approved list so they can continue that relationship with an appraiser they know and trust.

If you would like to know more about how our in-house appraisals benefit your customer and can be used as a tool to close more mortgage loans, contact us today!

Writing Strong Real Estate Listings

Even as marketing moves from traditional forms like radio and newspaper into more online channels, one thing doesn’t change – the sales listing. No matter where it is… on the internet or in the classifieds, the listing you write has to accomplish a lot in a small space.

Home Listing Goals:

1. Concisely capture key features of the home.
2. Create excitement so the reader contacts you to learn more and tour the home.
3. Stand out from other listings on that page that are competing for the same buyer.

In this market, where inventory is high and buyers are sought after, it’s even more important to do a good job with your sales listings. Even if you’ve been selling homes for decades, it’s still smart to take a fresh look at best practices in writing about a home for sale.

Tip #1: Back up a flashy headline with truth. We’ve all seen headlines like: “A backyard paradise” or “Convenient to everything.” You might think bold and flashy catches attention – and it does. But, then the prospective buyer arrives and sees a muddy yard with overgrown bushes or a home that’s right next to a gas station. Paradise? If you like jungles! Convenient. Well, if you need a fill-up! This kind of marketing may get prospects to a property, but they won’t stay when you’ve promised something that stretches the truth.

Tip #2: Think of formatting that’s outside the box. Typical listings are several sentences or paragraphs long, and readers have to work through it to find out about the house. Sadly, in a world of short attention spans, homebuyers may not have the patience to read the entire listing, and may miss important selling points. Bulleted lists are potentially a more effective way to market a home. Think like David Letterman – define the 5 best aspects of the house and make sure the reader comes away with that information, if nothing else.

Tip #3: Highlight best rooms with photos. If you write about a gourmet kitchen or the fantastic spa shower in the master bathroom, make sure you include pictures of those rooms! You would be surprised at how many listings don’t include photos of the rooms that will sell the home. Be intentional about the photos you choose – if they are out of focus or dark, retake them. Read your listing and then review the photos to be sure they complement the story you are telling. Pretend you are a buyer… what would motivate you to tour the home?

Tip #4:  Proof and fact check before you publish. If you don’t want to be one of the ads mocked when Jay Leno does Headlines on The Tonight Show, be sure to proofread your listings, or have someone else with fresh eyes proof them for you. Not only are you looking for misspellings or grammar problems. It’s also time to fact check against your photos. Does the picture show a 2-½-car garage and you list it as 3? Does the listing boast of wood floors in every room, but there’s linoleum in the laundry room? Catch inconsistencies before they make it into the paper or online!

For more marketing ideas on reaching buyers, contact us anytime.

Source: SoldMagazine.com

Start spring cleaning early. 92% percent of adults said having a cleaner home in winter made them happier!  No wonder. Clutter weighs you down mentally and makes it difficult to do your best work. When you streamline and organize, the feeling of accomplishment can boost your mood – and your productivity!

Hot peppers, peppermint, and cocoa?  Well, don’t eat them together, but all three have unique chemicals that interact with our body to improve our mood. Hot peppers give us a boost of endorphins – a feel-good compound in our brain. Peppermint induces feelings of calm. And cocoa contains a natural antidepressant. So, indulge!

Get out in the sun. A bright day is a natural antidote to anxiety and depression, but it may also be good for us physically. Enjoying a moderate amount of sun exposure (10-15 minutes) is enough for the body to create Vitamin D, which plays a part in improved immune response and stronger bones, among other things.

Do something nice. Thinking of someone else just feels good! Whether you volunteer for a local organization, cook dinner for a friend who doesn’t expect it, or write a “just because” card to someone you haven’t seen in a while, you’ll lift their spirits as well as your own.

Sing!  In the car, in the shower, just sing! People who sing along to their favorite songs are 81 percent less likely to fall into a funk, according to researchers who say it’s another way to kick start the production of endorphins.

Make sure your clients who are anxious to buy can access financing that will close the deal. That may mean looking beyond FHA and conventional loans to portfolio loans. 

Portfolio loans are not sold to Fannie Mae or Freddie Mac, but are held by lenders in-house on their books. That allows lenders to be independent and more flexible with their underwriting criteria. 

Portfolio loans are particularly useful for self-employed borrowers, those who have the maximum number of investment properties allowed by Fannie Mae and Freddie Mac, or others who require a jumbo loan that exceeds Fannie and Freddie limits.

In addition to providing a loan approval that might not be possible with a conventional loan, portfolio loans also have another attractive benefit: Servicing remains with the original lender. So even years later, the borrowers will work with the same lender from which they received their loan.

We offer portfolio loan products in a variety of terms and types. Were confident we can help you and your buyer find the right fit.