Currently, in the majority of real estate transactions, interested buyers are asked to submit a bid through a blind offer process not knowing if there are other bids,
How can a real estate agent utilize social media to close sales? Please be specific.
Here is your specific step by step guide to closing sales in Social Media & any other internet linked sites.
You will be creating a virtual copy of yourself & will make 5 times the sales of any top producer in your office.
Using this exact model I won the top small office, which is 5 licensees in my board area and this did not count another 25 sales I made outside of my board area.
1/ First, get real comfortable with Facebook, or borrow a teen or young adult, to teach you, as Facebook is where most of your Buyers, Sellers hang out.
Because the job, or what the Real Estate Agent gets paid for, is to introduce a willing Buyer to a willing Seller, as stated in every Realtor® brand MLS™ Listing contract
FACTS: Internet dating is now the second most common way of starting a relationship after meeting through friends.
FACTS Real Estate is friends and Relationship selling business, as every new prospect is given a “must read” brochure titled Your Relationship with your Real Estate Agent.
This brochure offers two types of AGENCY RELATIONSHIP between the agent and the agent’s new “DATE”
TYPE OF REALTIONSHIP
The Agent can choose between an Agent Client Relationship and an Agent Customer Relationship.
The only difference between these two Agency Relationships is that in AGENT CLIENT relationships, agents owe a fiduciary or financial responsibility to their CLIENTS.
When Agents choose a CUSTOMER Relationship, the agent does not owe any financial or fiduciary duty and has the same relationship with CUSTOMERS as the Walmart clerks.
Therefore, to be successful as an online Social Media Real Estate Agent, you need friends, an internet social media meeting place to meet new “DATES” and a CUSTOMER, not Agent relationship with friends and “DATES”.
To make this happen create your first Social Media file by downloading your Agency Relationship brochure, opening it up in an image or text file, whatever works for you, and add this phrase.
“I (name) am not your agent by deed or conduct”
Next, save your new customer relationship brochure as the first file in your new Social Media Folder
YEP! You need Facebook and Social Media
The big advantage of Facebook for agents is the ability to choose your market area, as you can exclude all people that don’t live in your Real Estate Board area and include people from other areas, so if you have moved from an area where you used to have many friends in another part of your State or Province, or even in another State or Province you are not licensed in, you can still legally service them. You need to finesses the MLS™ FSBO FLAT FEE OPTION for out of state or province sales, however that’s another post.
The secret is simple.
To create new home Buyers and Sellers by using Facebook or any other Social Media site, simply reformat all your listing MLS™ listing and data forms so you can add ADOBE COMMENTS to them.
Adding COMMENTS to your listing and Data sheets allows your new BUY and/or SELL prospects to download your forms from your social media site or have them emailed to them. When downloaded or received, your prospects can click open the comments, read them and instantly understand what information is needed, in effect you have cloned yourself, as you can customize your comments by including your prospects name and suggestions about selling or staging to sell to help your seller sell and pick up extra STAGING REFERRAL FEES from stagers you promote.
( Note that any extra fees will be paid out privately to your single proprietorship promotions company as any real estate related income must go through the Brokerage, and you are probably paying too much to your office already)
How do I do this?
PROBLEM: All your MLS™ listing sheets are PDFs, and are all connected in a package of PDFs that you access from your Real Estate board website.
These connected PDFs have security locks barring anyone from editing them or adding comments.
1/ Your first task is to break your listing data out of this Real Estate Board Package so you control it, not your real estate board, and you do this by choosing the PRINT Document setting.
PRINT out your needed Listing, Data Sheets, Property Disclosure if your board uses these, Collapse Sales, Cancel listings, Amend Listings, and any other Document you think you will need, because your task here is to remove these documents from the Real Estate PAPER world and move them into your digital Social Media world
2/ The next step is to create three types of Contract of Purchase and Sale files, and generally, these sales contracts are connected to the Master Real Estate Board Forms file, and connected or linked to all Terms and Condition Clause pages.
Begin by Isolating a Contract of Purchase and Sale and create a “NO SUBJECTS”, or “AS IS” Contract of Purchase and Sale for “AS IS” type sales, like Short, Foreclosure, Bidding War sales, and SAVE AS “No Terms and Conditions” contract.
Next, create a Contract of Purchase and Sale for DETACHED Single family homes.
These Contracts need the correct “SUBJECT TO”, TERMS and CONDITION CLAUSES, so you simply select the correct clauses from your board’s clause file and paste them into your new “SUBJECT TO” TERMS and CONDITION page for your new DETACHED Single family home contract, and SAVE AS “Detached Terms and Conditions contract.
Third, create your Condo Act, Strata Act or Multifamily type of Contract of Purchase and Sale, and again fill in all the Terms and Conditions clauses for these town home, apartment and Condo style ATTACHED homes.
PLEASE TAKE NOTE, some Single family homes also share common yards, club houses, golf courses, marinas etc, are often located in Gated Communities, and may also fall under Condo Act and Strata Act rules.
To check that you have the correct property type, look or ask your listing CUSTOMER if there is any kind of monthly, semiannual or annual maintenance bill, as this SINGLE FAMILY DETACHED HOME, may be come under the MULTIFAMILY or ATTACHED Home designation, and if all else fails, call city hall, or call the ladies at your real estate board that know EVERYTHING.
Ignore any Managing Broker, as he or sometimes she, is going to call the ladies anyway, but later. So get it done faster yourself.
If so this type of attached house falls into the ATTACHED column, I would still list it under the Detached Home section if possible, with a note in the listing description that this house shares a common yard with the next house, or whatever the cause is, because when buyers are browsing for single family homes they will never find your listing if it is stuck in the Condo Townhome ATTACHED section.
If stuck, do what I do, CALL THOSE REAL ESTATE BOARD LADIES. They know EVERYTHING
Four, to complete your contracts, open your SUBJECT REMOVAL FILE, and copy paste the same TERMS and CONDITION clauses into two contracts that have TERMS and CONDITIONS clauses, (Not the AS IS contract), as these SUBJECT REMOVAL FILE clauses must exactly match the same TERMS and CONDITION clauses that are in your main Contract of Purchase and Sale.
As you know, after your Buyer finishes all the BUYER’S Investigations, including house inspection and a new mortgage is in place, your Buyers sign off on this SUBJECT REMOVAL page to confirm in writing, that the BUYER is happy.
After signing, the BUYER generally has 24 hours to pay the deposit, name the buyer’s legal rep, your CUSTOMER’S SALE IS DONE, and all monies and title transfer will take place at the legal reps office on closing day, two weeks or a month later,
You have now created a complete suite of Social Media friendly Real Estate Contracts, and because you are working with your prospects in a CUSTOMER RELATIONSHIP not an AGENCY RELATIONSHIP, you have no worries about any mistakes, errors or omissions, as you will be providing great service, however, with no financial duty, therefore any issues that crop up later between buyers and sellers can be solved with their legal representatives and without you, being called as a witness, as you are not anyone’s agent, as they are customers, NOT clients.
NOW THE FUN PART
How to convert your new documents to Social Media, Agent and Customer friendly listing and sales documents.
1/ Click to ADOBE and rent a month of ADOBE ACROBAT for around $30.
2/ Next, print out all your MLS™ listing and Data sheets, because they are still the original PDF files that you CANNOT EDIT.
3/ To create PDF files you can edit and add your comments and form fields, use your Smartphone CAMSCAN App to take pictures of your printouts, as your Camscan app will save them as WORD or PDF, and in this instance, you want PDFs. If no scanner, then a trip to Staples to scan and save as images on your USB stick or Flash drive, Cloud or wherever.
4/ CREATE and EDIT YOUR PDF FILES
If you are working with images, once each file is open in Adobe Acrobat click MAKE PDF and ADOBE will turn each image file into an edible ADOBE PDF document.
If you already have CAMSCAN PDFs, then simply open with Adobe Acrobat and start adding COMMENTS using the COMMENTS tool
Next, use the PREPARE FORMS tool, and Adobe will create fillable form fields for you, and if the results are a little messy, you can adjust the size and properties of each form field using the Properties box for each form.
If this is too “techy” for you, simply go to FIVERR, it will cost you around $100 to $150 to get a FIVERR PDF expert to do all your forms and contracts for you and the results are great.
(I did this and it is a great time saver, and these people made all my PDFs into very Real Estate Board Professional grade.)
REVIEW: Once your MLS and contracts are all done, complete with all the form fields, you can open them again on Adobe Acrobat, choose COMMENTS and add in your COMMENTS.
RESULTS: Once your Seller customer has downloaded your forms and contracts from your listing and Social Media sites, they can click open the comments which will guide them through the listing procedure just as if you were in the room with them.
You can help you and your seller create dozens of Virtual Real Estate Agents that will find BUYERS for you by seeding the Seller’s Buyer’s Contracts across the web from Pinterest to Yahoo, to Instagram to YouTube, to EVERYWHERE!
(PS Stick a MAKE YOUR OFFER NOW link in your YouTube descriptions as well).
Include links in Home Stager’s sites, Home Decorator sites, moving company sites, and, hey, give out Referral Rewards or create an affiliation program, as now YOU have CONTROL, and you can RULE!
You have just created your own VIRTUAL REAL ESTATE AGENT, and BONUS, did not have to spend millions in trying to create an app, because all those new SMART Programmers forgot the basics.
THE MEDUIM IS THE MESSAGE.
Your new contract is the MEDIUM and the MESSAGE.
Customers can list their homes for sale and BUYERS can make offers to buy 24/7, without waiting for agents and whenever they want.
Buyers and Buying agents can save weeks of “Looking at homes” by making 2 to 10 multiple OFFERS to BUY, as all offers must be presented to the seller by the agent, and for Flat Fee MLS™ Listings where the SELLER IS THE AGENT your BUY SIDE OFFERS go direct to the MLS™ FSBO LISTING SELLER.
As of 2017, FSBO MLS™ Listings are 20% of all MLS™ listings and growing fast, making the MLS™ listing sites, the largest FSBO listing sites in North America and if you are working with a BUYER who is buying a FSBO FLAT FEE LISTING, with the “PRIVATE BUYER NO AGENT” clause activated, NO PROBLEM.
Either send the FSBO seller a commission agreement up front or AMEND your MLS Listing SCHEDULE A or last page, if this is your Flat Fee Seller to make sure you get a decent commission after the sale.
More on BUYERS MAKING MULTIPLE OFFERS.
This is from a local CTV news report back in 2014 I believe, however the time was just before the market jumped up in 2015.
The Buyer, as reported in the local real estate news, made 25 low ball 20 Million dollar offers on twenty-five $30M (million) dollar and UP priced mansions, and he got a SELLER!
This is just one example, proving that there is nothing that prevents you helping your buyers to do the same thing, as all offers are subject to finance and inspection, and no money is needed to make an offer.
Therefore, if you have 5 properties your Buyer likes, rather than wasting time trying to contact the listing agents becuase:
1/ Busy agents with lots of listings will make you wait for hours and days.
2/ 90% of agents are part time, and are at their taxi, waitressing or firefighting jobs, again, causing Buyers Agents and Buyers to wait hours or days.
3/ After waiting hours or days for a call back, you get the answer that there is an ACCEPTED OFFER on the listing, which means you and your buyer have wasted hours or days waiting for a call back and now have to wait a week or more to see if the ACCEPTED OFFER collapses before your buyer can visit and see that listed property for will be available for sale.
4/ Unfortunately, by waiting to see if that sale collapses, your buyer and you worry about missing out on other good buys, so TENSION!
The CURE for obscene wait times so loved by the industry that still believes it’s 1985, and needs to work out of an office, is to make online or Email in OFFERS TO PURCHASE all “SUBJECT TO” Inspections and loan approval.
Making multiple online offers stops tension and let’s Buyer and Buyer’s agents relax and take control, as online multiple offers cut through all this “waiting for agent’s” time, and you and your buyer will get a counter back fast, or your offer will be ignored.
Once you and your Buyer get counter offers back, simply take the Counter Offer closest to your original online offer, and counter back to the seller and negotiate to a mutually agreeable ACCEPTED OFFER.
Now you and your Buyers have a FIRM SELLING PRICE with Subject Removal and Closing DATES.
This is just like buying a car, as your BUYER can take the ACCEPTED OFFER, or sales agreement, to the bank to get loan or mortgage approved, and to the garage or Home Inspector, to get it inspected.
SEE? Your right. Real Estate can be modernized.
HUGE TIME SAVING BENEFIT
TIME is the new MONEY, with everyone balancing two jobs and children, no one, except the buyers on HGTV, has leisure time for the old 1955 “let’s go look at homes” method, unless they want agency entertainment every Sunday, and, trust me, you don’t want these buyers.
Basically the same as Buyer Benefits, as social media brings you people who want to sell and you can email them your listing forms complete with COMMENTS that guide them through the online listing process, and for sellers, buyers can simply CLICK TO BUY from one of your your Facebook or Social Media sites, download your prefilled Contract of Purchase and Sale, fill their offer price in, sign it with their tablet or laptop or Smartphone, and email back their acceptance or counteroffer, creating a faster inventory turnover, as your Buyer and Seller, buy and sell FASTER, and make MORE MONEY!
2/ GO GREEN and save energy.
Instant MLS® listings. No waiting for agents, and if your sellers are slow to get pictures, especially exterior pictures if the weather is bad, or the sellers outside pictures were not so good, (and the board always wants a picture fast), you can always grab a Google street view for an excellent outside shot of their home.
No driving and save energy, as you do it all from your laptop, tablet or Smartphone, and your sellers can follow up with the rest of the pix later.
3/ MORE SELLER BIG MONEY BENEFITS
Price aside, any property with a mortgage less than 10 years old, means that 80% to 90% of the seller’s mortgage is INTEREST, so over $2000 dollars of mortgage payment is THROWN AWAY every month by the seller of an average priced property that sits on the market too long.
Stats show that homes sell in the first 10 days of a 3 month listing, or the last 10 days of the listing, so every “Last Ten Days” sale cost the seller $6000 in lost interest, PLUS the commission.
However, by being able to sell online through SOCIAL MEDIA your seller’s home sells FASTER, often inside that first 10 day window, making your real estate services commission essentially FREE!
A big “WIN-WIN” for both parties.
Many sellers want signs, and again your Social Media platform is the way to go as you can supply any size of sign instantly.
Out with your Smartphone again, take pictures of your companies For-Sale sign, Arrow or direction sign, and Open House sign.
Go to Fiverr and find an Adobe illustrator person and for $5 to $15 they will make your pictures AI or Vector Graphic files and you so you can download and link them to your social media site which completes everything you need to BUY and SELL online, allowing you to replace the traditional Real Estate Office and Real Estate Agent.
Send your signs FREE to any seller, anywhere, or email your AI files direct to the print shop for local customer seller pick up later.
Or your sellers may prefer to download their Sign files to their Smartphone or USB and go to their local print shop or franchise like Instant Signs to get the printing done, and the Instant Sign boys told me they would be charging about $40 to $50 a sign.
Adding your seller’s name and number to the sign, so prospects can call your seller direct is FREE, as print is already a native Vector Graphic format, so no design charge needed. Just the price for a stand, or your seller can knock up a stand themselves, or if selling a condo, hook the For sale sign to the Real estate agent’s “TREE”
Or offline option, you can print or use your company signs, if you have to go out and get the Pizza, and leave your laptop and you are passing by your sellers house anyway, you can stop by your Seller’s property and put up the sign yourself.
FINISH/ Now you have all your listings, contracts and signage under your control, complete with comments to guide your sellers through the listing process.
Just as a reminder, your data sheets have the room measuring matrix included and the seller’s themselves can do the room measuring, as room measurements can be rounded out to the nearest foot, absolute accuracy is not needed, as every MLS™ listing has a disclaimer, “Listing is not accurate, and BUYER must do own Buyer’s own Investigations.
However, YOU MUST HAVE AN ACCURATE LOT SIZE, so if your customer does not have a site survey handy, NO PROBLEM
Every city has a website with all the city lots showing the legal surveyed lot lines, exact dimensions and shapes.
CONDO seller properties are all NA or Not Applicable on Data sheets, as all multifamily units have legal drawings included.
More about printing out documents with comments.
Comment Icons do not print out or show, when printing out with the free ADOBE READER.
HOWEVER, many people press PRINT, and print through a common printer without going through the ADOBE READER which shows all the COMMENT ICONS,
I found out it best NOT to put comments into the sales contracts, as people often simply click print, and the contracts will print with the comment icons showing, so I suggest leave the comments OFF the actual sales contracts, and be on the phone, in person, skype, Facebook chat or hangouts if you are selling with Google or YouTube, to help your buyers and sellers negotiate to an accepted offer.
Social Media is an online or virtual social construct, so you need your Real Estate Tools to be able to enter and work in the virtual world as well as the “real” world.
This means to succeed in the virtual social media world where the MEDIUM IS THE MESSAGE, you must clone yourself and become a Virtual Real Estate Agent.
About Emailing in pictures.
Often emailing in large picture files, because don’t ask your customers to Photoshop their pictures down to the usual 800 or 1000 pixels by 400 or 600 pixel MLS™ image file size, your customer’s email will choke, so unless everyone is easy at using Google Drive or Dropbox, simply ask your customers to email in 5 pictures at a time.
So now you can REALLY ROCK and have LISTING FACEBOOK EVENTS where you offer your Facebook friends tickets to local event, or Freebies from local merchants or a charity money raising event with [art proceeds from your sale and donations go to all your Social Media friends that list with you, or get their MOM or other friends who are thinking of listing to call or chat giving you referrals or saying they are thinking of selling so you send your listing package out to them which automatically cuts out any competing Realtor®
Careful with Tweeting here, because if you get too many retweets you will get swamped with more business than you can handle.
GETTING BUYERS, or
Why are they buying online with you from your Social Media site?
Because you are offering to split your BUY SIDE commission with them.
Your agreement states that if they do their own looking, and once they nail it down to TWO CHOICES, you will come out with them to present and negotiate the sale for them.
If you are helping them BUY ONLINE, then you have all your smartphone apps from Skype to Facetime to Instagram and more, along with CAMSCAN apps that make negotiating and buying on line easy.
However, The reason you want TWO and not ONE choice, is that it is easier to close with an ALTERNATE CHOICE QUESTION such as, “Do you like the pink house or the red house?”,,,, which forces the buyer to make a decision, compared to asking “Do you want to live in the red house ?” which could come back as a NO.
Your only issue here is that you need a referral agreement so your Managing Broker can pay your Buyer a 50% or 25% commission split or REFERRAL REWARD FEE.
25% is industry standard referral fee, and luckily as I am a full service Quora Question Answering Service,
Last issue is the office you are working out of, as you will do a ton of business and BIG NAME Realtor® brand offices, brands who make their living by recruiting new agents, not so much from real estate sales, but by having lots of agents paying lots of big name office fees, may fight you on this, or become a difficult office to work out of.
The other issue is that your office may be take too big a commission split from you to make online social media based marketing plan work.
If this is the case, then switch to a Flat Fee office or with LOW DEAL FEE OFFICE as even working out of a FSBO Flat Fee Office, it is your business as you are an independent agent, so you can always charge a percentage commission as well as Flat Fee fees, making your social media marketing plan a much better fit for a smaller and hungry real estate office who wants to ROCK and ROLL, and let YOU take control of YOUR business, within their business.
Cheers, and GO GET’EM