Dear Facebook Realtor:

By: Brad Nix, Managing Broker
Posted: May 2nd, 2009
Discussion: Comments

Quick Definition and Details about Facebook Pages (you’ll need to know this if you care to read any more of this post - and you should): “Create a presence that looks and behaves like user profiles to connect and engage with your customers and amplify your voice to their friends.” - Facebook Pages

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Be careful when considering Facebook Pages as a marketing tool. I know it’s tempting to tap Facebook’s immense community to grow your business, but be careful in how you approach it.

Social networks should be for networking, not your marketing plan

People don’t join associations, clubs, or real world groups and then go to the weekly or monthly meeting meetings with market updates. They go as themselves to develop relationships. Why do anything different just because it’s on the internet and not face to face? Of course, your career is part of what makes you ‘you’ and part of some of your conversations will be about your job/business, but to have a marketing plan in a social network just seems counter-productive to the real value of building relationships.

Real Estate Agents do not need Facebook Pages

In my opinion, real estate agents should not use Facebook (or Twitter, LinkedIn, etc…) as marketing channels, but as networking opportunities. A chance to learn from others, make new contacts, grow their sphere of influence, grow existing relationships and add value to others in the network. Promote what others are doing, share what is happening in your communities, stand up for causes, raise awareness to issues of concern, be personable (it’s okay to be yourself, just don’t tell us everything you’re eating every day) and develop true relationships with past clients, old friends, future referral sources, new friends, etc… I think it’s easier to do this as “Friends” of your Profile and not with “Fans” of your Page.

Real Estate Companies do need Facebook Pages

As for using ‘pages’ on Facebook, definitely go for it at the company level and perhaps start neighborhood pages for your local markets (because it’s hard to be ‘friends’ with a company or community). Keep your personal business as part of your profile, it is a part of who you are and a great chance to put personality into your personal service brand. Trying to separate business and personal in a social network would be like joining a softball team and never telling your teammates what happened at work that day or how the local market is doing. Furthermore, showing up at game time each week with planned market updates would just be silly, quickly ignored, and never asked to play again.

I know I’d rather have Friends than Fans and I sure know I’d rather not sign up for more marketing in my life. I assume my Facebook Friends feel the same way.

But, what about those who aren’t my ‘friends’? How will I reach them with my message? Shouldn’t I market to Fans so their friends can see me too? Short answers… it takes time to build relationships, word of mouth, & no, that’s too close to spam.

The Art of Making it Personal: Getting to the Heart of Social Media Success at REtechSouth 2009

By: Jennifer Carter, Community Advocate
Posted: March 27th, 2009
Discussion: Comments

“Attack it with a beginner’s mind,” I read recently on Dave Jenks’ website, and I was forced to guffaw because I frankly had no other means of attack on the social media front. Three short months ago I had admittedly never even heard of the term Social Media. But all of that was before I met Brad Nix, was hired by Maxsell Real Estate as Community Advocate, and was schooled by the blitzkrieg of social media rock stars present at REtechSouth 2009. Designed with the purpose of educating the real estate field about the growing necessity of using social media platforms (i.e. blogging, Twitter, Facebook, LinkedIn, and Active Rain to name a few) to achieve stellar results in a less-than-stellar market, REtechSouth focused on a very gratifying aspect of growing a business–making and keeping your business personal. I learned the lesson very quickly that social media is not so much about building an instant social empire (though this might happen as a result) but instead building solid, meaningful relationships one “Follow,” “Add Friend,” or video blog post at a time.

Finding Something Where there Was Nothing and Friends Where There were Strangers

An REtechSouth Re-cap on Using Online Tools to Build Offline Relationships With Clients

I admit that I approached REtechSouth with an air of healthy skepticism. After all, I like to think of myself as a “people person,” and in the past, I’ve often been left feeling cold by online networking that didn’t really seem to connect on a personal level. Imagine my amazement and relief then when Jeff Turner took the Main Stage and declared that the “computer is a moron,” and that information-gathering without an overt human connection is essentially worthless. My guard relaxed instantly as I realized, “This man just might be my champion.” Jeff grasps the underlying need to stay informed, entertained, and connected while doing business, and he stresses the significance of storytelling as a means to establish a necessary common ground between people. “Think about the best presenters, ” says Jeff. “They engage by bringing their own experience and personality to a topic. They don’t just spout facts. Think about the most interesting people at a party. They are great story tellers. We are pulled toward them. So, the focus has to be on You Engaging Others - YEO. We all need to get better at storytelling if we truly want to engage others.”

Similarly refreshing, speakers Andy Kaufman and Ines Hegedus-Garcia emphasized the need to incorporate the use of “social objects” into everyday interactions. A short-cut to getting personal quickly, social objects are sharing devices that hook the attention of the people with whom you want to connect. As an example, Andy revealed Akoha cards as a genius way to spark immediate interest in people that you want to get to know better. With the company tagline of “Come Play it Forward,” Akoha cards challenge users to complete missions of simple kindness such as giving someone your favorite book, inviting friends for drinks, or buying a friend some chocolate. A compelling way to not only make outstanding first impressions on potential clients, the cards ultimately serve as a way for Andy to build actual bonds with would-be friends. Ines uses a similar method of public outreach with one of the most sought-after search terms in the internet-cloud over Miami: the mojito. A coveted rum and mint concoction that Ines systematically seeks outs, tests, and reviews via video blog, the mojito has become a human interest magnet for which she has become a cult classic in social media circles (as well as with anyone searching for a place with great mojitos.) One might wonder how the use of these “social objects” might attract actual clients, and the answer is proven by the simple fact that the beginning of all ideal relationships, in business or otherwise, originate from two things: a mutual interest and a mutual kindness.

Taking the Final Social Media Leap

Overcoming the Fear of “Putting Yourself Out There”

Ultimately, I came away from REtechSouth with perhaps the most important social media secret of all: the fear of “getting personal” will eventually hold you back. The success of social media platforms to boost business remains contingent upon the release of the pre-programmed notion to which many still subscribe that mixing a business life and social life has to be a dangerous, detrimental thing. Dave Jenks advised that “putting yourself out there” and allowing for a little vulnerability is actually one of the best ways to build confidence in the people you’re doing business with. Dave’s advice to “embrace the overwhelm” that creeps in when we fear that we may be sharing too much of overselves is key to rise above any nagging insecurites we may have about sharing our individual truths. You will “get paid for wisdom,” Dave acknowledged at REtechSouth, and I know that this “wisdom” is won only by consistently and courageously putting myself on the line both online and off.

3 Questions Atlanta Real Estate Buyers Should Ask

By: Mike Pennington,
Posted: February 20th, 2009
Discussion: Comments

In a previous post, I made light of a few questions that may not be as valuable as one would think. Here are some better ones for those who know how to use them. So on a more serious level of analysis, here are:

3 questions to the Listing Agent that will generate valuable answers and make you look outstanding.

1) What is the replacement cost of this home and/or are there any appraisals that you can share with me?

The agent probably does not know but they can get the information if it exists. If they attempt or are successful at getting the information you have established 1.) a relationship and 2.) the level of expectation from the sellers price perspective.
Question Really Implies: “I am looking for value and I am serious. No need to do COMPS.”

2) What Terms, Conditions, or Special Incentives is the seller willing to discuss to generate an “Impressive Offer”?

After all, a buyer may pay full price if the seller will finance at a great rate, with a small amount down, or take a second mortgage. Price is but one (admittedly large) component of a real estate transaction.
Question Really Implies: “I am not a cheapskate, I am knowledgeable, and I just may be the creative buyer you are really looking for.”

3) As a listing agent, can your company effectively and ethically represent me and the seller via designated agency?

Many brokerages will not allow Dual Agency but can perform Designated Agency. This route can allow a bit more direct path to a seller with a higher degree of influence in the negotiation process.
Question Really Implies: “I know you agents work on commission and I am delivering you an opportunity to double your income if you treat me right.” (some of us in the business call this an attention getter)

3 Questions Atlanta Real Estate Buyers Ask

By: Mike Pennington,
Posted: February 18th, 2009
Discussion: Comments

In this short post, I would like to have some fun with a few questions that are quickly becoming the norm versus the exception. In the end though, even I agree that buyers and their agents have the right to ask any questions they desire and I will give them the best answers that I can provide. My point here is to highlight that some questions are truly more detrimental than they may appear. In my follow up to this article, I will list questions that provide some real value for a buyer:

3 questions to a Listing Agent that have ZERO value and actually hurt a buyers standing.

1) How much do you think the seller will take?

The Listing Agent probably does not know and even if the seller has told the agent, there is fluff built into that number. So in the end, the Listing Agent really does not know. Furthermore, if the listing agent knew for certain this listing was the king of all deals, the property would no longer be in the MLS. It would be SOLD.

Question Really Implies: “I really do not want to put myself out and actually earn some choice equity in a home.”

2) Is the seller hurting?

What difference does this really make? Even if they are hurting, the seller may be less likely to negotiate because they are negotiating a short sale, filing bankruptcy, or have reached the “Point of NO Return” and no longer care if they lose the home.

Question Really Implies: “Taking advantage of a person in a bad situation is more important than doing my research, locating a property, and negotiating a great buy.”

3) Is the seller willing to negotiate?

In my opinion, if a property is priced in line with direct comparable properties then the answer is “YES”. If it is priced extremely high or extremely low then the answer is probably “NO”. Motivated sellers (not desperate) will price property to be competitive and do expect some haggling. Dreamers (those with high price expectations) are usually too proud and get offended easily by realistic offers. On the other hand, Desperate situations with Lower than average price points tend to sell very fast and near full price. (IE if it is a deal, it goes quick!)

Question Really Implies: “I am somewhat interested but I am hoping that we won’t have to negotiate because I am very uncomfortable with that.”

Negotiating in Today’s Real Estate Market (or any other for that matter)

By: Mike Pennington,
Posted: February 16th, 2009
Discussion: Comments

Here are some thoughts about negotiation that I think most buyers, and some agents, have forgotten.

The only way to a successful sale is through a negotiation.

As with many big purchases, the act of negotiating is truly the only way that a sale will ever be consummated.

Get this: The best deal requires an effective negotiation but the scope needs to be defined. Does a buyer want the best deal on this house only, the best deal in a neighborhood, the best deal in a school district, or the best deal in the county? More options allow for better deals.

Most negotiations are NO fun for the buyer or seller, at all.

A saying in real estate is that Residential Deals are Emotional and Commercial Deals are Financial. Buyers have an emotional tendency and it is best to have someone represent them (via Agency) in the negotiation to prevent the other party from discovering that the buyer is barely holding it together.

Get this: This process is difficult but is considerably much less difficult than if a buyer and seller are forced to negotiate face to face. Objectivity is so valuable in these exchanges. The goal is not to walk away. The reason a buyer makes an offer is to purchase Real Estate.

Negotiations require multiple exchanges of information.

In my experience, a successful negotiation is usually achieved after 1 serve and 3 volleys. Pardon the tennis expression but most deals roll-out like this: Offer, Counter Offer, Counter to the Counter Offer, Counter to the Counter to the Counter Offer. Each time, a smaller piece of the division between the two parties is nibbled away.

Get this: If a buyer makes an offer and it is not accepted, she should not walk away from the negotiation if she really wants the property. Experienced sellers and their agents will NOT come running after the buyer to keep a deal going. They know that if the buyer walked away that easily, that person was not very serious to begin with.

Decide what the property is worth to the buyer, up front.

I have witnessed this at least once a month for the past year. Buyers will make an offer of 60% of asking price and be willing to pay nearly full price. As a buyer, it is important to decide what a property is worth to them, within a relative range, before an offer is drafted. After all, there is nearly a 0% chance that a seller is going to accept a first offer, as-is.

Get this: Insulting offers should only be sent when buyers have No interest in paying market price for a property. If a buyer is willing to pay nearer listing price, a better deal will be had by starting with an uncomfortable but not ridiculous offer price. Insulting offers are not received well by sellers, their listing agents, and even the buyers agents, unless it is stated upfront that it is an investor offer. And remember, investors usually do not make sales conditional on selling their existing house, leaving the drapes, financing, or bringing the wife or kids by to take a look.

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