Award for Net Franchise Sales 2013

This is to congratulate RE/MAX India – Hyderabad for winning the Award for Net Franchise Sales 2013 at RE/MAX R4 – 40th Anniversary Celebration – Vegas

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Tools for a Broker Agent – Response and Effective Communication

The biggest problem buyers have is communication; as agents take days to respond and do it on their own terms. Deals are broken and customers are lost because of this. It is necessary to understand the preferred form of communication of the customer and use that. Putting the customer in his comfort zone ensures he trusts you and gives complete information. At times the customer may operate in a manner which does not suit your style of working then it is advised that you promptly and tactfully tell them about the methods of contacting and availability.

One of the ways is: “I wish to give you the best of my services. If we communicate through E-mails/SMS/Calls (choose whichever suits you best) I will be able to reply promptly to your queries. I am the most available during x-y hours.”

This shows initiative on your part and also gives the client an idea as to the best time to contact you. It is important to respond within hours if not minutes. If you are not going to be able to furnish the requirement immediately inform the client if and by when can you give the details rather than not respond at all

Timely and quick responses bring trust and also increase the chances of closing the deal. It could also be the differentiation which gets you more referrals.

 

* Type REMAX and send it to 53456 to join the India’s Largest Real Estate Brokerage Network.

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Things a Real Estate Agent should tell his Client

On the surface real estate brokerage sounds a fairly simple job. Match buyer seller leads; show them a few properties and close the deal. The reality is shockingly different. The buyer will say a hundred different things or not say anything at all. They are usually unaware of the Nitty-gritties of documentation involved during and post the sale. As an agent it is your duty to make them aware of the different documents they will have to get in order for the sale to be complete. You must also inform them beforehand the additional costs involved for example:

Stamp Duty: 5 per cent – varies across states.

Brokerage: 2 per cent

Parking charges: Rs 300,000-1,000,000

Water connection and electricity deposit

Maintenance: Rs. 5-15 per sq. ft. and upwards depending on the type of property

Wear and tear

Legal fees and litigation costs

Home Insurance

Interest cost: If you have taken a home loan

 

* Type REMAX and send it to 53456 to join the India’s Largest Real Estate Brokerage Network.

What does a Buyer want from his Agent ?

Understanding what your buyer wants is the most important thing. A customer hires an agent for his services. Your job is to deliver that and not close a deal anyhow. So let us understand what a buyer wants from his agent which would make him willing to pay a hefty commission.

1.       Responsive and effective communicator

2.       In-sync with market trends and local knowledge

3.       Tuned into client’s needs and timelines

4.       Detail oriented and organized

These are the top four requirements. Stay tuned for details on these 4.

* Type REMAX and send it to 53456 to join the India’s Largest Real Estate Brokerage Network.

Real Estate: A Technology Trauma

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Yes you read it right! Technology is the all-pervading presence in our lives including our very own real estate. The nearest our industry has come to technology is: flashing smart-phones and no it’s not because you use the smart-phone as a smart-phone. It is but a status symbol. I guess I am being too harsh. For the slightly more tech-savvy listing on a few “popular” portals and subscribing to a hundred different groups is what they do!

Yes my friend you did use technology-EUREKA! The real question is what did you GAIN out of it? The answer probably left you with what I call “Technology Trauma.”  It affects those who don’t understand this mammoth thus don’t use it or use it but don’t get the gains.

 

There is a lot to technology but here we will cover a few common ones. We shall have more posts taking in each aspect in detail. The problems:

  • Property websites: Lack of MLS system makes it difficult to check if the property is genuine. www.remax.in follows the MLS system which most of the other portals did not do.
  • Google Broker Groups: Number of Broker Groups available without a proper filter system. At Remax India, there is a huge network of Brokers and that too in your city. It covers almost all of the major cities in India.
  • Popularity on Search engines: Huge number of property websites with few genuine hits on each. Again you have an advantage with www.remax.in which could be easily searched through various search engines like Google and Bing.

 

 

So how do we solve this problem?

Property websites: Identify key websites which work for you and bring in genuine enquiries, www.remax.in is an ideal. Look at the latest updates and follow selected members of the site.

Google broker groups: Analyze whether the group will serve any purpose. What do you wish to gain from the group. On joining a group for the next few days monitor the activity on the group and decide whether to actively follow it. Broker groups available on Remax India site without a lot of search.

Save time and don’t list on every website you come across. Spend that time actually following quality. “White noise” is a problem of too much information and we need to identify the right sources to give and take information.

Keep a lookout for our post on using technology to plug lead leaks!

 

 

The Reality of Realty

 

Whenever we say the word real estate the thing that pops into mind is flashing dollar signs. It is considered the shortcut to quick bucks.  But ever wondered what really this industry is about and why it is the second largest employer after agriculture in India. It is the most coveted dream- to own their own house- most coveted investment-returns cannot be matched and it gives you steady income (read rent)- what fixed deposit, mutual fund, metal can hope to do this? Most importantly it is because on an average 60 % of a person’s income is locked in real estate. We also have the issue of our weaknesses also being our biggest strengths. It is the only segment of an investor’s wealth which is yet unregulated and has no entry barrier unlike stock brokerage and insurance. Market penetration is as yet low on an organised level. Translated this means potential and first mover advantage. We see a host of international property consultants and corporate houses entering the market. Though it is attracting a lot of attention these very problems shatter the quick buck dream. No proper information, uneducated and uniformed brokers are the biggest problem. Add to your woes is a highly informed customer who is soon considering to become a DIY-(do it yourself) customer. It is easy to have 200 leads but it is very difficult to match these leads, go through the documentation and close the sale. But it is even more difficult to collect your commission. Having put forth a general view I will still say it is the best time to be in real estate. You have virtually no competition if you decide to be professional, competent and “deliver”. Remax is the World’s largest brokerage network and doing this work in an organized manner. Visit Remax India website for details on how to join organized real Estate network in your city.




* Type REMAX and send it to 53456 to join the India’s Largest Real Estate Brokerage Network.

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