List, List, List!

The good news in the market recently is that the inventory of well-positioned, well-priced homes has been selling like you know what and is way down, driving up competition even further.  And the bad news is that, well, the inventory of well-positioned, well-priced homes is way down, stifling the market!  We’ve all heard how good homes—whatever the price range—are often selling quickly, sometimes with multiple offers, and even for list price or above.  Ah, a whiff of the good old days!

So how do we take advantage and build our business for the rest of this year as we sell through our inventory so quickly?  How about some tried and true, as well as some unique approaches to prospecting for those new listings?

FSBO’s and Expired Listings come to mind, those methods as old as the hills, and most often left in the drawer for most agents these days.  Yet these approaches do work, and at least the owner has some level of motivation to sell.  So, given the low interest rates and tight inventory, along with the end of school and rising humidity and temperatures, maybe you can be that magic agent who can help position and price that unsuccessful listing just right.  For minimal investment of time and postage, maybe it’s time to dig out and target some of these homes to add to your inventory.

Next, another trusty old approach that most agents no longer use, Farming, may be just the thing.  If you can focus on a neighborhood or zip code where you’ve achieved success in units sold, or Days on the Market, or percentage of list price, maybe a targeted mailer, reminding folks of the tight inventory and low interest rates, could net you an addition to your listing inventory.  And remember, yard signs and open houses net as many closed transactions as the internet.  Yes, from a recent NAR study, our old friends the listing and the open house still bring us the biggest leads to grow our business.

Finally, here’s where your Sphere of Influence—those folks with whom you’ve built and maintained a relationship of trust in you and your expertise—can really work for you.  An email, or better yet, a phone call or a round of golf, or a glass of scotch and a cigar, reminding your friends of the potential opportunity the tighter market reflects, and asking them to let you know if they have other friends sitting on the fence about selling their home, is the best way to make use of a warm contact and increase your inventory.  One agent even posted an article about the market on Facebook and netted a few new listings from friends and their referrals! 

The key, of course, is to set a regular time, every—yes, every—day to prospect in whatever forms you prefer.  It’s pretty simple, really: No prospecting, no seeds planted, no harvest.

And one last trick:  send folks three recent sale comps from their neighborhood—without the prices—and ask them to rank the comps and then decide where their own house fits in with them, then call you to see what the prices were.  Everyone loves to see what their house might be worth, and what better way than to let them determine it themselves! 

So lets get creative and go after those new listings and enjoy the tighter market this summer!

David M. Hassler

Director of Coaching

80 Miles an Hour II

By now, nearly everyone has probably seen the video of Warren Buffett talking about Berkshire Hathaway Home Services as the train going 80 miles an hour, and certainly our competitors can already hear—and fear—the oncoming powerhouse.  We’ve chatted previously about some of the misleading things they’re trying to tell agents and our potential clients, so we’d like to make sure you can be proactive and take full advantage of the power of that 80 mile an hour momentum! 

So here are the last five of our BHHS talking points you can use, ala Dave Letterman:

5. Berkshire Hathaway has a reputation as the smartest long-term investor in the world.  They buy companies and invest in them to hold and improve them.  They are not flippers, they’re investors.

4. We will be known and recognized as Berkshire Hathaway.  Only two other companies owned by Berkshire Hathaway are allowed to use the parent company's widely recognized name.  That speaks to Warren Buffett's belief in the longevity of our business and his commitment to our ongoing success.

3. Berkshire Hathaway has ownership in some of the most widely recognized companies in the world, including Heinz, Geico, IBM, Dairy Queen, Brooks Shoes, and Coke, as well as many firms related to our own business, like Shaw Carpets and Benjamin Moore Paints.

2. Our tools and systems will be enhanced and improved with many of the latest elements that will be fundamental to agent success.  From CRM, to Lead Routing, to automatic drip campaigns, the BHHS website can become your hub for your workflow and business generation.  Yet, since Pru and BHHS are all part of the same corporate family, ALL the data and contacts for EVERY agent will automatically transfer from the PREA center and will be there in the new, streamlined BHHS website--and our own Delta Media personalized sites--when the transition occurs.  Also, we will have fabulous new customizable, glossy, marketing materials available for next day delivery.

1. Our company is not being purchased by anyone.  Period.  Our BRAND is being enhanced with the most highly respected name in the world.  I wonder if our competitors have any idea who really owns their brands, and what their long-term goals and prospects are?

And for those of you who’ve read this far, here is a bonus talking point:

0. Our clients will be able to search nationwide through our new BHHS website interface.  No need to google some website to look for new homes in Boulder or Boston or Bonita Springs.

So, get ready to jump on board that speeding train and take your business to the next level!

David M. Hassler

Director of Coaching

80 Miles an Hour!

By now, nearly everyone has probably seen the video of Warren Buffett talking about Berkshire Hathaway Home Services as the train going 80 miles an hour, and certainly our competitors can already hear—and fear—the oncoming powerhouse.  We’ve chatted previously about some of the misleading things they’re trying to tell agents and our potential clients, so we’d like to make sure you can be proactive and take full advantage of the power of that 80 mile an hour momentum!  So here are the first of our BHHS talking points you can use, ala Dave Letterman:

10. Berkshire Hathaway was named by Barron’s last year as “the most respected business in the world.”  Above Apple.  Above Disney.  Most respected IN THE WORLD.  Confidence.  Success.  Savvy.  Quality.  Resources.  Best.  None of the competition is even on the list!  Who wouldn’t want to be associated with that level of recognition, support, and good will?  Oh, and for those who perhaps don’t read Barron’s, can anyone name the guy who provided the backing for the billion-dollar prize for a perfect NCAA bracket this year?  ’Nuff said.

9. Harris Polls Equitrends named Berkshire Hathaway HomeServices as the top ranked Real Estate Agency Brand in the USA!!  Given that the company opened its first offices only in September, 2013, this award is a testament to the power of the Buffett Effect and the Berkshire Hathaway brand name along with the success and reputation that Home Services, the second largest independent brokerage firm in the nation, has achieved in its markets. Wow, what home seller wouldn’t want THAT name, and all that goes with it, on the sign in their yard!!  And what buyer wouldn’t feel comfortable relying on a trusted pro with that name on their business card! 

8. $200 BILLION in corporate net worth backs up Berkshire Hathaway Home Services.  No other brand in our business comes close to that level of resources to make sure we lead the way with new technology, tools, and marketing as our business continues to evolve.

7. BHHS will be an international company.  That global reach, along with Berkshire Hathaway already being recognized as the most respected corporate name in the world, will have a huge impact on our relocation business as well as our overall reputation and name recognition.  That potential million-dollar buyer moving here from Munich or Milan or Manchester will already know our name and our reputation.

6. Luxury home sales will get a separate marketing program and the Berkshire Hathaway name will open doors in a new way for us.  And yes, nearly every one of our markets has a luxury home segment and clients who will love that special treatment.

So be prepared for any curveball the competition may be tossing our way, and stay tuned for more of our Top 10 Talking Points so you can enjoy and profit from the ride of your life!

David M. Hassler

Director of Coaching

That Nasty Eleven Letter Word

The good news in the market recently is that the inventory of well-positioned, well-priced homes is way down.  And the bad news is that, well, the inventory of well-positioned, well-priced homes is way down!  We’ve all heard how good homes—whatever the price range—are often selling quickly, sometimes with multiple offers, and even for list price or above.  Ah, a whiff of the good old days!

So how do we take advantage and build our business this year?  How about some tried and true, as well as some unique approaches to prospecting for those new listings?

FSBO’s and Expired Listings come to mind, those methods as old as the hills, and most often left in the drawer for most agents these days.  Yet these approaches do work, and at least the owner has some level of motivation to sell.  So, given the low interest rates and tight inventory, along with the eventual arrival of some spring temperatures, maybe you can be that magic agent who can help position and price that unsuccessful listing just right.  For minimal investment of time and postage, maybe it’s time to dig out and target some of these homes to add to your inventory.

Next, another trusty old approach that most agents no longer use, Farming, may be just the thing.  If you can focus on a neighborhood or zip code where you’ve achieved success in units sold, or Days on the Market, or percentage of list price, maybe a targeted mailer, reminding folks of the tight inventory and low interest rates, could net you an addition to your listing inventory.

Finally, here’s where your Sphere of Influence—those folks with whom you’ve built and maintained a relationship of trust in you and your expertise—can really work for you.  An email, or better yet, a phone call or a round of golf (okay, not this week!) or a glass of scotch and a cigar, reminding your friends of the potential opportunity the tighter market reflects, and asking them to let you know if they have other friends sitting on the fence about selling their home, is the best way to make use of a warm contact and increase your inventory.  One agent even posted an article about the market on Facebook and netted a few new listings from his friends and their referrals! 

So lets get creative and go after those new listings and enjoy the tighter market this spring!

David M. Hassler

Director of Coaching