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Home / Articles / Real Estate / Happy Herald Realty /  Are you a realtor wasting time with suspects while you’re real prospects are going unattended?
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Friday, December 6,2013

Are you a realtor wasting time with suspects while you’re real prospects are going unattended?

 
Being a Realtor is serious business and a very professional way to make a living; it´s not a hobby. Establish a vision for your business, we have! Exclusive Marketing Agent

Join Us and Become an
Exclusive Marketing Agent (for Your Sellers) & Exclusive Buyer’s Broker (for your Buyers)

Our business plan determines the kind of business we want to create with key elements you need in place to be successful. Without these elements, you will struggle to reach your true potential. Recent statistics show an alarming trend of real estate agents who are converting less than 20% of their appointments with “buyers” into closed transactions. That’s only one out of every five opportunities! What’s the problem?

1) At Happy Herald Realty we have buyers pre-approved, not just pre-qualified. Too much time is spent with prospects not capable of buying the homes they are viewing. We meet our buyer’s face to face, not just on the phone. We do not send out countless emails without knowing them or them knowing us.

2) We get a Buyer Broker Agreement with our buyers. We wouldn’t go to work for a seller without a written Marketing Agreement; don’t our Buyers deserve the same discipline?

3) We focus on specific benefits needed by each buyer not just the features of the house but possible terms to buy it with.

4) Our conversion ratios with Buyers are good but will still not guarantee your house will be the one being bought. However we understand and communicate effectively regarding Buyer’s objections. Objections are not bad, objections are good. Objections give the direction we need to help our Buyers and Sellers move forward.

5) As Marketing Agents for Happy Herald Realty we help in the preparation of aggressive pricing for realistic expectations for the Buyer to buy and the Seller to sell. We take Buyers to “find their new home” not to “look at houses”. We understand the realities of each specific situation involving a sale and know the realities in the current market place. We know how we must create the right expectation to prepare the buyers to buy.

6) We also understand the cost of gas and the cost of insurance and income needed to show properties. We understand time management and the value of time as both our priorities.

The future belongs to those who prepare for it. This is sage advice for home buyers who need to lay the necessary groundwork to buy the home of their dreams.

Pre Qualified: Without good preparation, many buyers get lulled into the mistaken notion if a lender pre-qualifies them for a mortgage this means they have been pre-approved for a home loan. Unfortunately, there’s a world of difference between these two terms. Because it’s a quick procedure, and based only on the information you provide to the lender, your pre-qualified amount is not a sure thing; it’s just the amount for which you might expect to be approved. For this reason, a pre-qualified buyer doesn’t carry the same weight as a pre-approved buyer who has been more thoroughly investigated.

Pre-Approved is the next step and tends to be much more involved. You’ll complete an official mortgage application (and usually pay an application fee), and supply the lender with the necessary documentation to perform an extensive check on your financial background and current credit rating. (Typically at this stage, you will not have found a house yet, so any reference to “property” on the application will be left blank). From this, the lender can tell you the specific mortgage amount for which you are approved. With pre-approval, you will receive a conditional commitment in writing for an exact loan amount, allowing you to look for a home at or below that price level. Obviously, this puts you at an advantage when dealing with a potential seller, as he or she will know you’re one step closer to obtaining an actual mortgage. Getting pre-approved for a mortgage enables you to move quickly when you find the perfect place. When you make an offer, it won’t be contingent on obtaining financing, which can save you valuable time. In a competitive market, this lets the seller know that your offer is serious - and could prevent you from losing out to another potential buyer who already has financing arranged.

Loan Commitment is only issued by a bank when it has approved you, the borrower, for the house in question. This means the home should be appraised at or above the sales price. The bank may also require more information if the appraiser brings up anything he or she feels should be investigated (i.e. structural problems, accessibility issues, outstanding liens or litigation in progress). Your income and credit profile will be checked once again to ensure nothing has changed since the initial approval. A loan commitment letter is issued only when the bank is certain it will lend, so the commitment date on your purchase contract should be closer to closing than to the date of your offer. (The seller can ask to see that letter so beware of anyone who tries to put an early commitment date into your contract).

Cash Buyers: “Money talks, everything else walks.” I have a good “sense” for when someone is exaggerating their available funds. People with money truly interested act different than those who are pull my leg and waste my time. They become an embarrassment to a professional who recognizes that fašade. The simplest is to have them show you the money. If they cannot do that, problem solved. For example, “I’d love to work with you to show you properties but first will need to proof up your funds.” That said, a person with cash to deploy will talk and act like they have cash to deploy. In my experience a person without cash will act very noncommittal, not exact, and ambiguous. Put yourself on the other side of the fence, if you have $1 Million, how would you act and answer your questions.

In Real Estate you don’t get what you deserve, you get what you negotiate. It can be argued and, quite rightfully, the buyer always pays the commission. Why? Because, it’s typically part of the sales price. If the seller did not sign an agreement to pay a commission, the sales price might have
been lowered. Therein lies the appeal of buying homes through unrepresented sellers because, given the same logic, those prices should reflect a net sales price without a commission. Many sellers haven’t quite figured this out yet which causes potential buyers of those listings to be consistently disappointed.
At Happy Herald Realty we do not list properties, we Market to Sell… Show, Present Written Offers from Qualified Buyers and when the price offered is accepted by the Seller and Buyer we continue to provide assistance in the closing process. This helps alleviate much of the confusion. Don’t be astonished that the new generation of sellers and buyers each retain their own representation.
Happy Herald Realty Represents Buyers Exclusively. We earn our fee as the part of the sales price. We charge NO LISTING FEES; we promote and sell homes with our Exclusive Marketing Agreement without costing the seller a dime. No hidden charges. NO Listing Agreement. Find out how Happy Herald Newspaper and Web Optimized Marketing Services reach millions of buyers locally and internationally.

All you have to do is Ask Gabe 561-394-7466 / Happy Herald Realty

 

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