The current local real estate market is low on homes for sale, yet there are buyers aplenty.  When this happens, there are three issues that ensue.  Hiring a trusted real estate team is pertinent in buying/selling your home. In doing so, hopefully you can avoid losing your time and money.

  1. Buyer/Seller Remorse

Buyers are feeling the crunch to jump on a new home listing because of the lack thereof.  This lack of homes for sale is leading buyers to pay over asking price, but more importantly over the appraisal value of the home.  Then once they’ve had time to dwell on their quick purchase, remorse sets in. Once this happens, there can be consequences for either the buyer or the seller depending on how both proceed.

  1. The Buyer

Some buyers feel the pressure to keep the deal and close on a home they don’t really love because they’ve made a commitment and now feel stuck. This can be great for the seller, but not so much for a buyer.  This isn’t a new sweater or a pair of sunglasses that you can return once you’ve realized you made a quick decision and they weren’t in your budget or you don’t love as much as you thought.  Buying a home is a huge investment for you, your family, and your future.  You want to purchase a home that you feel 100% certain is perfect for the current phase of life you’re in and that your budget can afford.  Purchasing a new home shouldn’t be a hasty decision made out of the fear you won’t find another.  Instead, you should hire a realtor you can trust that will help navigate the current real estate market.

  1. The Seller

You’d think the seller has an advantage when there is a low inventory of homes on the market, but that isn’t necessarily the case.  When buyers are quick to purchase a home, sometimes remorse will set in and this can cause lasting effects for the seller.  For instance, when a buyer decides to purchase a home out of haste that another home won’t be available within their price range or location, they start the purchase process.  Once they’ve had time to really think about the home and decision they have made, the buyer might realize they no longer want.  When the home goes for inspection, they find a way to get out of the deal based on the inspection, even if it only reveals a minor flaw. Because the buyers are desperate to get out of the deal, they aren’t concerned about the negative impact this will have on the seller.  Once the public sees a home go “pending” and then fall through because of inspection, a negative light is cast on the home.  An experienced real estate agent can help you avoid this type of scenario.

The Linda Rea Team is dedicated to helping you buy/sell your home as quickly as possible, while avoiding the remorse so many have felt. With over 40 years of experience in real estate, we know how to safeguard our clients from the pitfalls of a “quick” sale.

 

With over 49 years of experience in the real estate world, I would like to share with you how to create and implement systems that can help you build a successful real estate team.  I have developed 5 key strategies to help establish a thriving team of high producers and together we have built one of Michigan’s most profitable real estate teams within Real Estate One and continue to rank in the top ¼ of 1% throughout the entire nation.

 

5 KEY STRATEGIES:

 

1. CREATE SUCCESSFUL SYSTEMS WITHIN YOUR BUSINESS

The first step in building a real estate team is to create systems within your organization that will be duplicable.  Train your first employee for success and with an in-depth knowledge of your company’s core values and systems and let that knowledge and example be passed on from one employee to the next.  This isn’t about job specifics, but rather about core values of the company.  This would include a list of expectations by all who work for your company, whether they are your assistant, the buyer’s agent, or an inside sales agent. Next, set your revenue goals and then begin to work backwards.  You can use the “Reverse Lead Calculator” or another type of similar online service to help determine your lead generation needs.  There are also hundreds, if not more, websites with free economic goal sheets for you to print off and fill in based on your goals and these will help you determine where you need to be at financially before you can afford to hire help.  And don’t forget, each time you hit a new revenue goal, it’s time to reevaluate your team and consider the possibility of hiring additional help.

2. WHO TO HIRE AND WHEN

When you find yourself too busy to handle the day to day office tasks within your business, it’s time to seek out employees.  ALWAYS hire an administrative assistant first.  I realize this isn’t the popular first choice, but it is the best.  If you’re being overtaken by paper work and bogged down by phone calls, how will you have time to complete these daily tasks AND sell houses?  Can it be done alone? Yes.  Can it be done well?  Absolutely not.  If an agent closes a consistent 25-30 deals per year, they should have no problem, financially, hiring a fulltime assistant.  Next, hiring a buyer’s agent now makes sense with the daily tasks being handled by the administrative assistant.  From here you will likely hire inside sales agents, listing agents, and possibly others within an administrative role based on the size of your team.  Other job considerations might consist of a marketing manager, virtual assistants to handle all social media accounts, team photographer for all listings, and website designer/writer.

3. A POSITIVE TEAM CULTURE

In the inspirational business fable “Soup”, a book by Jon Gordon, we are taught to think of our business as a pot of soup and when we do, we discover the key ingredients we need to add to our business to see success.  When making a comforting pot of homemade soup, the key is always quality ingredients.  The quality of our business and our team is determined by the quality of our relationships.  If we add in a great leader (that’s you!) and begin to stir the pot and then slowly add in team players that share our core values as a company, we will be creating a recipe for success.  But it only takes adding one rotten ingredient to ruin the entire batch of soup.  Dave Ramsey said: “Talk bad about my company or any of its employees, you will receive grace one time. After that, you are immediately fired”!  And that’s how we should treat anyone that would try to destroy our own company or team culture.  We must be vigilant in protecting the culture of our team otherwise what we have worked so hard to build could be destroyed ever so quickly.  I have always valued hiring family that I know shares the same core values as me, but I’m also aware that not everyone has this option.  Whether you are hiring family or someone you’ve never met before, be patient and seek out only those people that will edify your team and not tear it down.  Author, John Maxwell shares, “according to Dr. David McClelland of Harvard, the people with whom you habitually associate are called your ‘reference group,’ and these people determine as much as 95 percent of your success or failure in life.”  Choose wisely!

4. HOW TO LEAD

A good leader always leads with integrity and by example.  Have you ever heard the saying, “you cannot give what you yourself do not possess”?  If you are not honest, patient, hardworking, and motivated, it will be hard to expect these behavioral traits from your employees.  John Maxwell says: “If you have worked to learn or earn something, you have the ability to pass it on to others.”  You should strive to be a life long learner, not a knower of all things in life.  Staying up to date on everything within the real estate world is key to finding success within this business.  And don’t forget, actions speak louder than words.  You must lead by example to create your own “dream team”!

5:  PUT OTHERS FIRST

If you want to be successful, start by putting the success of those on your team first.  Maybe this is a new concept for some, but the reality is that as those below us hit their goals, we will then reach ours.  If you are only concerned with personal growth, you’ll never be able to create a team that values each other, and a positive team culture will not exist.  Many have failed in business because of selfish ambition.  If you aren’t sure how to do this, I recommend reading the book “The 15 Laws of Invaluable Growth” by John Maxwell.  He shares how we can grow both personally and as leaders within business.

Now that I’ve shared the key strategies to hiring a successful team, you should know it doesn’t stop there.  Leadership is a lifelong process.  When you step into the role of “leader” for the first time, you will probably fail and more than once.  Don’t let these failures define you or the success of your team.  You are a leader for a reason! Never stop growing and learning from other successful business men and women.  And remember, growth doesn’t just happen.  You must do the work, invest in others and yourself, and strive to continually GROW, GROW, GROW.  Please reach out to me at (248) 709-3786 if you have questions or if I can be of assistance in any way.

 

“If you develop the habits of success, you’ll make success a habit”  – M. Angier

 

 

 

 

It takes a team to accomplish your real estate transaction smoothly today and balance life as well. I saw that coming years ago, and I am thankful… I learned how to put systems in place.

In today’s real estate world…It pays to be well connected to a team with a proven track record, one that can cover all the bases all the time. Hiring assistance sure helps, but a full team of professional agents, will assure your deal closes beyond expectations. It took several years to perfect a good team, I contribute this success by having a team of family members with the same core values and vision.

 

HERE ARE A FEW OF THE HOME BUYING/SELLING CATEGORIES, OUR TEAM ARE EXPERTS ON.  SHOULD YOU HAVE A QUESTION OR REAL ESTATE NEED CALL 248-709-3786

Home Buying Tips, Tricks and Techniques
How to Sell Your House for the Most Money
Foreclosure and Short Sale
Writing Offers and Negotiating Acceptance
Getting to the Heart of Home Financing
How to Find and Work With a Lender
How to Find, Interview and Hire a Real Estate Agent
Home Inspections
Understanding Home Disclosures
Investment Properties and Property Management
Real Estate Market Facts, Trends and References
Buying Second Homes / Vacation Homes
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Buying a Home
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Short Sales / Foreclosures
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