LEAD GENERATION TIP #10

PRESENTING AND NEGOTIATING THE OFFER
Let’s set the stage:

You’ve written the offer and it’s time to present it to the sellers. Do you simply fax it over to the listing agent and await their response?

Let me ask you this, is that truly representing the buyer? Of course not.

Call the listing agent and let them know you would like to personally present the offer.

Here are some of the key steps to presenting and negotiating the offer:

• Give the sellers some personal background on the buyers, what they are looking for, their qualification abilities, how many homes they have looked at and what they appreciate about their home.

• Provide the sellers with a current snapshot of the marketplace (the same information you provided your buyers with when they decided on what price to offer)

• Review all of the major details of the offer; contingent or non-contingent, inspections, date of closing, etc. Then move to price. Upon presenting price, be silent and listen.

• Be sure to have all your documents and disclosures in order.

If you’ve done your job and you have a good agent on the other end, you will walk away with an accepted offer.

Your next tip will focus on listing strategies. Until then I wish you all continued success.

It’s Your Career – I’m Here to Support YOU!
Constantine Isslamow | Broker of Record

Constantine.Isslamow@gmail.com

LEAD GENERATION TIP #9

PREPARING THE OFFER

It’s typical of the real estate industry, everyone wants to submit a lowball offer. Your first step is to bring buyers to the reality of your current marketplace. How do you do this?

Is it a buyers market or is it a sellers market?

Additionally, your other responsibility is to negotiate in the best interest of your buyer. Keep in mind, negotiating in the best interest of a buyer is not a win/lose goal, you want to do the best you can for your buyer, without creating conflict between buyer and seller. Fiduciary responsibility, know where you stand!

Provide your buyer with market data that includes recent sales, current listings, sale price as a percentage of list prices and any other information that is important in their decision process.

Your next tip will focus on the negotiation process. Until then I wish you all continued success.

It’s Your Career – I’m Here to Support YOU!
Constantine Isslamow | Broker of Record

CENTURY 21 United Realty Inc. Brokerage
387 George Street South, P.O. Box 178
Peterborough Ontario. K9J 6Y8
Direct Line: 705.743.4444 | Fax: 705-743.3702
Constantine.Isslamow@gmail.com

LEAD GENERATION TIP #8

Showing and Selling Property

The culmination of your previous efforts has arrived. Your abilities you have been practicing and the strategies you plan to use is now ready to begin.

Here is the process of showing and selling a home to a buyer:

• Allow the buyer to look at the home at their pace. Don’t smother them and don’t walk into small rooms. Allow the buyer to experience every part of the house.

• Don’t sell, ask questions based on any feedback or comments they provide.

• Ask them what they like about the house.

• Ask them what they would change about the house.

• Ask them if they have any further questions.

It’s not an Einstein science exercise, just common sense. If you have listened to their dialogue of wants and needs, paid close attention to their comments as they look at each house and asked each questions about each property, you will be well on your way to determining and finding their perfect home. If you’re “On Target” you’ll probably write an offer, you might even sell it on the first try!

Your next tip will focus on writing the offer. Until then I wish you all continued success

I hope you find this information useful. Thanks for stopping by.

It’s Your Career – I’m Here to Support YOU!
Constantine Isslamow | Broker of Record

CENTURY 21 United Realty Inc. Brokerage
387 George Street South, P.O. Box 178
Peterborough Ontario. K9J 6Y8
Direct Line: 705.743.4444 | Fax: 705-743.3702
Constantine.Isslamow@gmail.com

LEAD GENERATION TIP #7

The Home Tour You’ve completed all of the initial steps before you start showing property, it’s now time to set-up your home tour and schedule showing appointments.

Here are the critical steps:

1. Less is more: The more homes you show a buyer, the more confused they get. Drill down to the specific wants and needs of your buyer. This information is gathered during your buyer counselling interview. Keep the tour between 3-5 homes, any more than that can create confusion and indecision.
2. Create a map: Provide the buyer with a map that details the location of each property that you are going to show them. Highlight the different schools and points of interest on the map.
3. Provide comparables: Educate the buyer and make them aware of the current marketplace. This will help the buyer better understand the market and make a realistic offer that they are comfortable with.
4. Meet at our office: Have the buyers meet you at our office so that you can sit down and review the homes they are going to see. Upon arrival back to the office, this is the best time to write up the offer.

Your next tip will be Showing and Selling Property. Until then I wish you all continued success.

I hope you find this information useful. Thanks for stopping by.

It’s Your Career – I’m Here to Support YOU!
Constantine Isslamow | Broker of Record

CENTURY 21 United Realty Inc. Brokerage
387 George Street South, P.O. Box 178
Peterborough Ontario. K9J 6Y8
Direct Line: 705.743.4444 | Fax: 705-743.3702
Constantine.Isslamow@gmail.com

Understanding the Mortgage Process

Many first-time homebuyers may be wondering where they should start with the mortgage process. A common source of confusion is the difference between mortgage pre-qualification, pre-approval and rate holds. Recently, the Toronto Star published a good explanation of the difference between these three terms.


Mortgage Pre-qualification

A mortgage pre-qualification provides an estimate of the mortgage total that you may be approved for. The estimate is based on your income, your current debts and estimated down-payment.

It doesn’t take into account your credit rating nor does it give you a detailed analysis of what you can afford. It does however give you an opportunity to better understand what mortgage rates and options are open to you.

Mortgage pre-qualifications take place prior to a mortgage pre-approval and it is important not to use the terms interchangeably.


Mortgage Pre-approval

A mortgage pre-approval comes after a pre-qualification.

This process will provide you with detailed information about the home you can afford based on your savings and income, and the corresponding mortgage payments for a range of purchase prices.

You’ll need to provide the lender specific documentation so they can assess your financial situation and current credit rating and ensure that you satisfy all the requirements. There is usually no application fee associated with a pre-approval and you are in no way committed to the bank or mortgage broker from whom you obtained your mortgage pre-approval. Remember, however, that if you pull your credit score more than three times within six months, you may lower your credit rating.

Once your application is approved, you will get a written conditional commitment for a defined loan amount, which you can show to sellers when purchasing a home.

Mortgage Rate Hold

A rate hold refers to the locking in of a certain mortgage rate for a specified number of days - usually 60, 90 or 120 days. It’s important to note that just because a rate hold ensures you will receive a certain interest rate, it does not mean that a lender has accepted your mortgage application. A lender could still refuse to provide you with a mortgage stating that all conditions were not met.

If you are going with a mortgage broker, you can potentially lock in a few different mortgage rates with various lenders versus locking in with only one bank at a set rate. If your current mortgage rate declines, your lender will typically match it.

If you receive a mortgage pre-approval, you can be automatically signed up for a rate hold so it’s best to get a mortgage pre-approval before you get a mortgage rate hold.

It's Your Career - I'm Here to Support YOU!
Constantine Isslamow
Mortgage Broker
CENTUM Core Fincial Inc. Brokerage License 10642
Constantine Isslamow License M08005391
Independently Owned & Operated
constantine_isslamow@centum.ca

LEAD GENERATION TIP #4

CONVERT THE CALL

When you get that incoming buyer call, they are full of questions and just want answers.

How do you gain control of an incoming call? Is it by providing answers or when you ask questions? Just find out what the buyers needs are, then deliver based on those wants and needs.

Here are a couple typical mistakes I see when a buyer calls in. The agent goes into sell mode, the agent provides all the information; the buyer graciously accepts the information and hangs up but the needs go un-serviced and the agent doesn't get an appointment. Who is the biggest loser?

The second mistake that I see is the agent preparing their response for the buyer before the buyer completes what they are saying. Basically it's an agent that doesn't listen.

Here's the solution: Listen very closely, restate what the buyer has communicated to you and base your next question on their response or question.

Next tip I will discuss the initial appointment. Until then I wish you all continued success.

I hope you find this information useful. Thanks for stopping by.

It’s Your Career – I’m Here to Support YOU!
Constantine Isslamow | Broker of Record

CENTURY 21 United Realty Inc. Brokerage
387 George Street South, P.O. Box 178
Peterborough Ontario. K9J 6Y8
Direct Line: 705.743.4444 | Fax: 705-743.3702
Constantine.Isslamow@gmail.com

LEAD GENERATION TIP #3

PHONE CONVERSION

So what is the benefit for a potential buyer to take the time and schedule an appointment to meet with you?

“Would you see value in viewing pictures of the inside of all the homes that fit your search criteria, rather than to drive around and call agents and schedule individual appointments to see the inside of each home?”

“Would you see value in reviewing a current snapshot of the market so that you are able to understand the current value of homes that you are researching?”

What are some of the other value propositions/benefits that you can offer a potential buyer?

I call it the “FAB” approach: Features, Advantages and Benefits. Yes it takes time but YOU take a few minutes and place all of your features in the far left had columns of a 3 column page. At the top left it starts with Features, then the Benefits and lastly the Advantages. Write out all the whys and what if’s that you can. You’ll be amazed at your results.

Features and benefits are important to communicate during the incoming call, but how do you handle the overall communication process?

Your next tip will focus on how you convert the incoming call with more than just features and benefits.

It's Your Career - I'm here to Support YOU!

Constantine Isslamow

Real Estate Broker / Mortgage Broker

Century 21United Realty Inc. Brokerage / CENTUM Core Financial Inc.

Independently Owned and Operated

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