We thought it would be
fun to share a fun little game - kind of “four pics, one word.” Can you
spot the common denominator? Here is a hint: the answer is two words – the
first word is 10 characters and the second word is 9 characters. Post your
answers and in 4 weeks we will post the correct answer. Good luck!
Monday, 27 January 2014
Monday, 20 January 2014
Real Estate Sales Professionals – Industry Brand vs. Individual Brand
There are thousands of
real estate sales professionals in Ontario and it is no secret that the real
estate industry is very competitive. Standing out and differentiating oneself
is really important to compete.
Although there are
standards and practices that must be adhered to, and these do lend credibility
to your name, are they enough to enhance your brand image? To ensure success,
one of the most effective things that you can do is to develop and establish a
brand that is you.
Many organizations who
serve the real estate community have projected the image that they believe the
consumers should expect when conversing with real estate sales professionals.
Many organizations are
affected by stereotyping based on an individual’s misuse of the system or
negative experience - the real estate sector is not exempt. Stereotyping can
have a positive impact, but in most circumstances will have a negative impact
on the organization. This is where differentiation becomes crucial, especially
in respect to developing your own brand. While your procedure and objective is
similar to the majority of other real estate sales professionals, it does not
mean you are alike.
The real estate sales
professional brand – what does it need to look like? Again, this is a hard
concept to grasp – but a few common things come to mind: professionalism,
competency, level of knowledge, and sincerity.
Your brand, needs
to be developed according to your own standards, standards that you set for
yourself and adhere to on a consistent basis. It should encompass all of your
goals and markers for success, and needs to branch out from the typical way of
doing things.
Things to consider:
-
Where you sell and what you sell.
This is an obvious one, but it is synonymous with brand image. You can’t
expect to reel in the major clients with a reputation that will not entice or
attract.
-
Technology plays a major role in
most industries nowadays, and real estate is no exception. Being behind the
tech times can be extremely detrimental, especially since the younger
generations are becoming the clients of today and will be the clients of
tomorrow.
-
Another strong point of
differential is ongoing and consistent training to maintain a solid grasp on
emerging trends and popular advances in the real estate world. Perhaps more
than just the annual conference or networking is required here.
-
Accessibility also plays a key
factor. This goes hand-in-hand with embracing tech advances. Your clients need
to be able to get in touch with you, and this doesn’t just mean over the phone.
What about an industry
standard? Is it possible to set one? Is it feasible to create a set list of
expectations and raise the bar in a way that is acceptable to all members?
While it is simple to project that real estate sale professionals should be
expected to perform at a certain level, everyone has a different perception of
this level – and with very few measures in place to monitor this behaviour it
is almost impossible to ensure that everyone is holding to those expectations.
So does that mean it is a useless endeavour? We will put that to you.
In the end, just
remember: as a real estate sales professional, your success depends upon your
ability to present your brand. Everything that you do, every action, and every
communication, needs to be consistent and reflect well upon your brand. In an
industry with standards and an almost innate general perception, the best thing
that you can do for yourself is enhance your own reputation and image.
For more about brand
image and to find out about the tools to enhance it, please visit www.geowarehouse.ca.
Monday, 13 January 2014
The Importance of Parcel Registers – A $7,000.00 Learning Experience
The Parcel Register search is relied upon for real
estate transactions to learn important information about a property, such as
ownership and encumbrances. The real estate lawyer will request a parcel
register prior to closing because it currently validates:
- Who
owns the property
- The
type of ownership
- When
the property was purchased
- Value
of the transfer
- Registered
amount of the mortgage
- Any
undischarged mortgages registered against the property
- Any
liens against the property - property tax, condo liens, income tax, etc.
The Parcel Register is one of the first property
related searches that real estate sales professionals utilise when conversing
with their clients. This will reduce your expenditure in both time and
money, and allow for these resources to be allocated elsewhere. For instance,
the profit of the sale may be hindered when the necessary information is not
disclosed by the client. With the Parcel Register search you will be able to
obtain the important information. This will also allow you to avoid the
potential risks, which can be detrimental to your profit when a deal has
closed.
A lien or undisclosed mortgage can result in a deal
not closing, or the deal will close but there may not be enough equity to cover
commission. All things considered, it is a nominal expense to use a Parcel
Register to ensure that your deal closes safely.
In a LinkedIn Group that we sponsor, a participant
highlighted a very common occurrence that we can learn from:
A real estate sales professional had a client who had
to perform renovations on a property before they could list it - the cost of
the renovations was about $7,000. The real estate sales professional extended a
loan to the client to pay for the renovations. When the property was sold, it
came to light that there were 3 mortgages registered against the property. Once
the final balances were sent to the lawyer, there was no equity left to pay
back the loan to the real estate sales professional. Fortunately, there was
enough equity to pay
the commission,
which was just slightly less than $7,000.
This clearly illustrates the importance of obtaining a
Parcel Register because if the information was available, the loss could have
been avoided.
Among several other tools provided by GeoWarehouse, we
encourage you to utilise the Parcel Register search for your benefit.
For more
information about GeoWarehouse or a Parcel Register please visit www.geowarehouse.ca or feel free to watch this video http://www.youtube.com/watch?v=PCnO80_bRvM about how to request a Parcel Register.
Monday, 6 January 2014
Mobile Apps for Real Estate - How Are You Leveraging Mobile Technology?
In today’s
technological world, it is becoming increasingly difficult to walk down the
street without noticing someone on a smartphone. It seems as though everyone
has some form of mobile technology, and most do not hesitate to pull out that
device to accomplish a variety of tasks – most of which have nothing to do with
making a phone call. Some real estate sales professionals have a negative
perception of the impact of mobile technology, arguing that things such as
instant messaging and social media take away from face-to-face interaction and
engagement. However, we think it is the opposite. One thing is certain,
communication is critical – so can you just ignore tech advances? We argue no –
with the majority of the population embracing mobile technology, ignoring its
importance is out of the question.
In Canada, professionals, no matter the
industry, are relying more and more on the advances made (and thus the
opportunities created) by mobile technology. According to a recent news report
from CBC News, smartphone usage has soared over the past year. The
report stated that 56% of Canadian adults use a smartphone – this is up from
33% at the beginning of 2012, and this is estimated to continue to rise over
the new few months. This 56% represents over 13 million people. And according
to digital marketing company Mediative, 73% of these individuals access the
mobile web on a daily basis.
How are professionals
using mobile technology to do things more quickly? A number of different
applications, not to mention email or text messaging, have made our
professional lives a great deal easier. Smartphone applications that make
doing business more efficient are becoming progressively more popular.
According to CTV News, the average smartphone user has 30 different apps
installed on their phone. And many of
these are business related, everything from apps to digitally sign documents
(DocuSign), to apps that help you track expenses (Expensify), to networking
apps (LinkedIn).
What about real estate
sales professionals specifically? Many of the apps popular for business are
great in the world of mobile real estate; and many can be used to make your
work faster – giving you access to everything you need, on the go. We are now
starting to see companies that serve the real estate industry developing real
estate specific mobile apps.
Mobile apps are remodeling the
future. Doing business in this tech age essentially means being tapped into the
world of mobile web, so those of you attempting to hold out may need to rethink
that strategy. Embracing mobile technology for use in your everyday life will
actually work to make things far easier in the long-run.
For more about mobile
web and how you can leverage mobile technology to close more deals, faster,
please contact GeoWarehouse by calling 1-866-237-5937 or visit www.geowarehouse.ca.
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