Sunday was crazy. First, I met early with two new first-time home buyers. We talked about their needs and wants, and I counseled them to draw out how I can best help them.
I truly love working with first-time home buyers. Lots of agents don't. They don't feel there is enough money in it for them and way too much work, but money is not my motivating factor in this business. Otherwise, I would have retired years ago. I do it because I love it. Money is a result, not the driving factor and, quite frankly, I make too much damn money. How many agents can say that?
I earn enough to annually make Master's Club at the Board of Realtors and achieve sufficient status points at my company to win recognition for the top whatever and still keep my parking pass. If it takes 20 deals of higher priced homes or 100 lower priced to maintain the status quo production-wise, I don't really care. None of that is important.
As we finished and they were signing an exclusive buyer's broker agreement, I thought to ask, "How did you find me? Since most of my buyers come from referrals, how did you think to call me?"
They answered, "We looked online, and everywhere we looked, there you were."
I was astounded. Now, maybe it's due to my two years of employment writing for my New York Times' home buying site at About.com, but it might also very well be a result from blogging. I don't know, and they don't remember. All they could recall is they found me online. And that's reassuring news.
Another agent in my company asked me a few weeks back where most of my business is coming from. After I stopped to look at my pending escrows, the answer was clear: 100% online for last month. This, in a market where most business comes referrals? It's remarkable. I oughtta pinch myself.
Back to Sunday: I finished a home inspection and then sped away to meet another set of buyers who had previewed a home during an open house. Fortunately, for me -- in the interest of time, and I had only 20 minutes to spare -- I had already prepared the offer for them and had only to change the first page when they asked, "Since another offer is coming in, how much should we offer?
I hate multiple offer situations. They are so stressful for buyers. I also dislike naming prices. If they get it, they might say they paid too much, and if they don't get it, it's all my fault, too. But we often have no choice in multiple-offer situations because we know how the game is played.
I replied, "If you want this house only 50/50 and it's OK if you don't get it, $5,000 above list price. If you absolutely must buy this home, then $10,000 over."
They chose $10K over. Gosh, I hope they get it! Some of the neighborhood markets in Sacramento are insane. But I like crazy markets. I find them challenging and being busy is good. Or maybe I'm just a crazy person myself who seems to thrive when working under pressure.
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I am on a mission for them to find me. I get lots of traffic on my website so Im progressing in that arena. I do hope all the time I put on the net helps.
I've been told that perseverance pays off online, and that it takes about 18 months to two years to see repeated results. In my case, that would be about right. So hang in there, Laura, and keep blogging.
Ain't the Internet great? I'm lucky enough to rank #1 for Google and Yahoo for some important keywords for the website I put up in 1999. But I am adding blogging to my arsenal 'cause you can't rest on your laurels and risk being left behind.
Yes, it is, Joe. I am continually blown away by its reach. And it's not always one thing that you do that brings results. Sometimes, it's your web site, sometimes, it's blogging, sometimes it's voluntarily contributing to other sites, and sometimes it's just being on the right site at the right time. It's a combination of stuff.
Thanks Elizabeth! A great example of showing value --- through data! And, the internet, of course is truly our most valuable tool in real estate today. Understanding it's power and reach is critical.
Elizabeth, yes - most of my business comes from online efforts. Now I am adding blogging along to that - and it works! Best of luck - sounds like you are a very committed agent!! Carla
Hi Pamela and Carla: I would much rather hear people say that they read something I wrote and agree with my way of thinking, than be plucked from obscurity.
I haven't had any closings from my online efforts, yet. I'm hoping that will come soon. I've had a couple of multiple offer situations. My clients have been the buyers in these transactions. I'd like to have the seller in my next multiple offer situation! :)
That sounds like a good way of explaining how to get one bought. Unfortunately, the ones around here seem to think that if they want it 50/50 they'll offer 2/3 of the asking price and if they really want it they'll offer 95% of the asking price. They want a "deal".. Most of the time they lose the house.
Good for you Elizabeth! Having a ton of exposure on the internet...what a tough problem to have:)
I get loads of internet inquiries and they translate to good referrals.
Debi: You might not want to be the listing agent on multiple offers, let me tell you. Your fax never stops, and there's preparing net sheets for each of them, calling back the dozen or so who didn't get it, LOL.
Barbara: I refer lowballers out to another agent. If they aren't ready to offer somewhere near the comparable sales, then they aren't really buyers. They're time wasters.
LaNIta: I don't know exactly how it happened or I'd keep doing it. :) A lot of it seems hit and miss.
David: I think Internet buyers are extraordinarily delightful. They are the best informed, most intelligent, they respond quickly to telecommunications and have done so much research that their needs are very finely tuned.
Congrats on your successes. Did you ever pay for SEO or anything to boost your site rankings?
Great Post. CONGRATULATIONS. They all start their searches on the internet, so you have to be there.
I think it's going to get harder as the years go by. With agents getting out of the business, and more creative marketing ideas that you have to stay on top of, it's going to get more dog eat dog!
Elizabeth, That seems to be the trend for us who blog. Since blogging most of my clients find me online as well. Like you I love working with first time homebuyers. Best of luck.
Hi Elizabeth,
Great post. I loved your appoach and attitude.
Great post elizabeth. I'm glad to hear that sacramento is back in action again.
Elizabeth, you can attribute your success to blogging, but don't discount your ability to come across and knowledgeable, caring and real in your posts. There are some who may think by copying and pasting old fodder will get them business and it won't!
"We looked online, and everywhere we looked, there you were."
That is absolutely what you want to hear from both buyers and sellers.
Great post. I wish more realtors here in Tampa Bay would take your lead. I too love working with first time home buyers. There is nothing more gratifying then to help families find and qualify for that first house. Do you know anyone in the Tampa Bay area that has your vaules that I cold work with? Talk to you soon, keep up the position blogs. That iswhat our industry and country needs more than ever. Thanks Will Merritt www.tampabayloanofficer.com
The internet is great! I love it because so many people don't even know the power of it!
Elizabeth, Congrats on your success!!
How do you manage to maintain a crazy market while the rest of the country (pretty much) is so slow? What is there in Sacramento, that makes it crazy.
Hi Alan: No, I don't pay for SEO and never will. Paying for it is stupid.
Hi Tamara: I tell agents that if you aren't online, you may as well get ready to leave the business because you don't have any business being in it.
Hi Karen: Advice for working with first-time home buyers? I'd say explain everything upfront. I often print out my "home buying path" from my About.com site and go through it, point by point, so they know what to expect. Give buyers copies of everything they will be asked to sign and make them read it. Point out the important paragraphs. But most importantly, listen to them. Find out what they really want and deliver it. Ask questions. Ask questions about questions and always keep the questions in question format. Rephrase what they tell you to make sure you understand. Continually probe and refine their search criteria and above all, have patience with them.
Colleen: It's paramount, I believe, to have something to say. You always have something fabulous to say. But some agent's don't. I'm never at a loss for words, and I don't pass up blatant opportunities to rant and rave when situations warrant. You're right about people who copy and paste.
Will: Your comment was very sweet. Thank you.
Jon: There are hot markets in Sacramento because some of the neighborhoods are highly desirable, and there are few foreclosures in those areas. I work close to downtown, which encompasses strong & established communities where high demand still exists. But even in the lower-end homes located in outlying areas, multiple offers are happening because prices have finally reached a low enough point where buyers can afford to buy. There are still areas, of course, where nobody is buying and prices are falling.
And thank you to everybody else who commented or popped in to say thanks. I'd make up some comment for each of you individually, but quite frankly, that would be boring to read, but I do appreciate you stopping by.
Oh, and if anybody cares, my buyers beat out three other "strong" offers and won the house!
Elizabeth.......great job and you have used your skills and caring quite well. Thanks for the post.
Well, thank you, Pam. If you ever need a recip, let me know. And I'll do the same.
More and more of my business is coming from on-line connections.
Congrats: Elizabeth what a great story. I'm working on getting my name out there, but I know it will take sometime. thanks for letting me know that it will work if you put time in building up yourself.
Hi Cindy: Yes, as time goes on, you do see an increase. The important thing is not to give up. You remember the quote, right, that every failure leads you one step closer to success. Count your failures as steps toward success, as corny as that may sound.
Hi Donna: Not to be redundant -- the important thing is don't give up. OK, I repeat myself.
If you don't see results in 30 days or six months or a year, don't quit. Keep on blogging and keep on writing. I have probably written more than 500 articles over the past two years, and that doesn't even begin to account for the number of blogs or comments on blogs I've done. If you give from the heart, it comes back to you ten-fold.
Elizabeth,
Congratulations to your buyers. I love working with first time home buyers too. It's very rewarding handing them the keys to their very first home. One of my clients carried each of his family members over the threshold while I videotaped it.
Unfortunately, I'm relatively new to the profession, but have had early success. In the first 2 years, it was because of the amount of floor time I put in, but in 2008, it's because of my website and blog. Yippee. All these long hours are paying off.
I so enjoyed your About.com blog before I became an agent and after I joined the profession, it was a strong motivator in my being active with AR. I too have had several clients and other agents who have referred to me tell me I'm all over the internet and it makes me smile every time.
Shotgun approach. You want to be every hole in your target area. That is my thought. I want to be seen in a lot of different searches for my area too. Congratulations on being everywhere.
They are finding me!! I make sure I am up on all the search engines, do open houses, had a great open house this weekend. 12 customers, 3 REAL buyers! It has been amazing!
I'm so happy to hear that, Fran. Putting in the effort does pay off. And you're one of the smart ones who understand that and you're dedicated.
I also am pleased to hear you enjoy my articles and blogs on About.com. When I first came up with the idea to write and had to audition for the position at About.com, my husband thought I was nuts. He said my time was better spent concentrating solely on real estate. But that is real estate, I argued, and I'm passionate about it. He thought I was crazy to spend three weeks trying out for the job, and even if I won it, the minimum pay was only about $700. I never imagined I'd make almost as much as I do selling real estate writing for About.com. I was astounded when I saw my first paycheck. I thought, "How lucky is this? To make money doing something I love?" It's almost as good as selling real estate!!!
You will do well in this profession, Fran. Crap, you're already doing well. And I admire your devotion. You, my friend, are an inspiration.
Elizabeth- Good quality information in the post and the comments! I agree 1st time home buyers are fun!
Best,
Scott
100% business from the Internet for a month is amazing Elizabeth. Good for you!
Thats exactly how I started getting into the business. It took me to 180 closings in a year. I love online. Good work!
Elizabeth, I very much like that you know the money will take care of itself with your hard work and passion. I am equally on board with you with that philosophy. Congratulations on so much online related business, but then again, You Are Everywhere !! I think it is your meez.com branding - so cute!! : )
Most agents have moved on and do not work with many buyers. I have tried to work 50/50 listings and buyers. It has worked well the last couple of years.
I hear you Elizabeth! Be online or be no where...3/3 of my closed transactions this month were generated from the internet.
We are always on the lookout for them and several of them do end up coming our way.
Yes Elizabeth I made the decision to focus online and I already have gotten business from online marketing. It definetley pays off.
Elizabeth - good for you! YOu sound like a great agent!
I like your statement that "...money is a result, not the driving factor..." That is probably one of the greatest reasons for your continued success - your frame of mind. Hats-off to your attitude and your nicely written post. Good luck with the offer....
Glad your buyers got the house. I have heard other people talk about buyers saying they chose someone because they were "everywhere". I definitely think it being seen "everywhere" is something to strive for.
OK, I have tried to keep up with the responses, but I am a total failure with regards to that aspect of this online social club, and I can't possibly do it. So, please forgive me. Except for Gary who really likes my Meez. Thanks, Gary. I kinda like the penguin, too! But I don't have anything else to add to or say about the comments but thank you, everybody, for responding.
You are right... I think working with FTHBs is rewarding. In my case.. I have great memories of buying my first home. I was 20 years old, had no idea what I was doing, no real family support and if it were not (in my case) for my lender, I would have never been able to get my first home. This was back in 96 when FHA was a pain with their inspections. I remember going to a hardware store to buy some tools and my lender and I worked together on a Saturday to clear up our last inspection conditions. We did not know what we were doing and it was not pretty, but we got it done! I will never forget her. Sometimes folks get caught up in the $$$ but we really are helping folks achieve milestones in their life. I look back on it today and I have no idea how I accomplished this goal at such a young age. The fact was this lender believed in me and helped me make it possible.
Great post. I love when people search the net and they find you everywhere. It's great to be in so many places all at once.
Thanks, Team Newington, for sharing your story. That is the point of being in real estate, I believe. We can make a difference in a person's life, and helping first-time home buyers is tremendously rewarding. Sometimes, I get buyers for the $150,000 to $250,000 range, which makes it hard to find a nice home at that price. It's twice, no, maybe five times the work as a half-million-dollar property, for about half the commission, but it can also be ten times more fun.
Christy: I don't believe I am "everywhere online," but apparently, wherever that buyer looked I was. Probably just lucky, I suppose.
The internet is powerful! I am working on getting my name out there as well. So far, I can find me all over the internet! I am hoping soon my clients will too!
Elizabeth--
Have you ever asked any of your Internet leads about how many sites/companies/agent sites they went to and signed up on prior to deciding on you? I would bet that they went to several, if not A LOT!, and simply didn't get the response that you gave them. I would be interested to see, if you HAVE asked/tracked, what results you have gotten from those leads. Almost everyone in the r e industry has a website or webpage at least but I speak with so many agents/lenders/etc. that really have no clue about Internet leads (how to market to them, how to drip e-mail them, how to respond to them, etc.) and are paying $30-150 per month on websites that are not generating leads. Weird.
Hi Lisa: I've tried to ask, but honestly, I don't expect these people to remember. I mean, do you know where you went online yesterday? The thing I have found is it's not necessarily my web site that initially draws the hits. I'm going at this differently than most agents, I suspect. People find my web site after finding me elsewhere. It's the other places I go that draw attention, and then people think, "Hey, I should click on her web site to find out more about this person," or at least that's my story and I'm sticking to it.