Posts Tagged ‘ carl medford ’

Managing Buyer Expectations – If You Don’t, They Will

It’s a typical scenario: you get an email from a couple wanting to see a home. Adrenaline surges as a closing check flits across your mind. You eagerly set up an appointment, drive across town, show the property at the appointed hour then set up another appointment to show them more homes on the weekend.

frustrated-realtor-drivingFriday comes and you get an email with 17 MLS numbers they’d like to see. A small gnawing feeling starts working at corner of your stomach as you realize you need to do some educating. You dive into the list and quickly discover that 14 of them are short sales that can be shown by appointment only. That uncomfortable feeling in your tummy is expanding into a minor digestive disorder as you get ready to start making the calls to set up the appointments.

I could go on with scenarios all too common for too many REALTORS® … ending with the unreturned calls, failure to respond to emails and finally the devastating realization that the clients you’ve been carting around for the past three months have just purchased a home from another agent at an open house.

You’ve just been managed.

From the first moment you come in contact with a prospective client, they have expectations. In many cases, these expectations are not based on reality: they’ve been garnered from conversations with their friends, reading posts on sites like HomeGain, Zillow and Trulia and by watching HGTV. Often, their expectations are way out of alignment with reality. It’s up to you to manage their expectations and direct them forward in a positive manner. You’d think it would be easy, yet statistics state that by the time a buyer gets to you, they’ve already been in contact with numerous other Realtors. How do you get this food chain to stop with you?

Bottom line: if you don’t mange your buyers, they will manage you. Right out of business.

In reality, I’ve discovered that most buyers want to be “managed.” Used in the right context, the word “manage” is a good thing. Continue reading this post


Posted by: Carl Medford on September 28th, 2009 under Best Practices


“Good” Ain’t Great No More: 3 Things You Gotta Know NOW

A little regarded factoid has seemingly escaped attention as of late. With the current economic woes slapping many Realtors upside the head, numerous compatriots have decided to throw in the towels and get out of the ring. So far, no new news. However, it’s WHO has left the business that should be getting our attention.

And ever more important, who is LEFT in the ring? The Realtors who remain are the good ones.

They’re the ones who have enough skills to keep their businesses alive through these down times. They’re the ones who are succeeding in the face of hardship. They’re the ones who are GOOD! And they know they have to do two-to-three times the volume they did two years ago just to break even.

They are your new, leaner and meaner competition.

If you plan on going head-to-head with these folks and coming out with a paycheck, you’d better learn how to move beyond being simply “good.” I searched the web for a quote that would fit here, hoping that Churchill, Lincoln or even Ziegler could help pull us up by our socks. Unfortunately, none of them had a quote that worked, so I’ll quote myself!

“Times like these DEMAND greatness.”

Ironically, the move from good to great isn’t very far or even very difficult. Many good business writers stress that it’s the little things repeated consistently that ultimately make the difference. It’s true: the little things add up and do so VERY quickly.

So here are three critical “little” things to be doing consistently to help you level the playing field: Continue reading this post


Posted by: Carl Medford on March 18th, 2009 under Motivation


Coming March 19: Ask The Experts Live Real Estate Forum

Join HomeGain for its quarterly event LIVE on Thursday, March 19.

During the session you’ll hear strategic advice from a panel of experts essential to your success in real estate in 2009, having an opportunity to ask the experts questions specific to your own business. Due to the growing popularity of the event, there will be a new format, which will allow more time for questions, and you can even send your questions in advance!

When: Thursday, March 19, 2009

Time: 10am — 11am PST

Cost: None

Meet the Experts: Continue reading this post


Posted by: Jessica Gopalakrishnan on March 4th, 2009 under Ask the Experts



Surrounded by plummeting prices, bankrupting banks, fickle financiers, sagging stocks, cantankerous consumers … It’s time for some frivolity.

If you, like I, show a decent number of properties and, in the process, read the displayed MLS remarks, you’ll quickly discover that the art of good fiction writing is alive and well. With the current onslaught of foreclosures and distressed properties, listing agents have become, by necessity, “creative” with their carefully crafted comments. As I read their information, designed to convey the important aspects of the home, I’d swear some of them are gunning for a Pulitzer.

And then you visit the property, read the comments again and ask, “How did we get there from here?”

As an example, a property I recently visited had remarks stating, “Needs cosmetic work.”

Translation? “Throw in a stick of dynamite and start over!” The carpets were decimated, strips of wallpaper hung peeling from the walls, all the baseboards were missing and there was SUBSTANTIAL water damage to an upstairs bathroom floor and the ceiling underneath. Read, “gaping hole.” And that was just the beginning.

A REALTOR’S job is to sell property, and what they pen is designed to get you and your homebuyer to visit. Continue reading this post


Posted by: Carl Medford on March 2nd, 2009 under Buying or Selling a Home, Realtor

1 Comment »

No Stage, No Play

Although, in Shakespeare’s words, “All the world’s a stage,” in the world of theater, a play is rather hard to enact without a stage. It’s been tried over the years, but traditional theatergoers prefer a conventional stage.

And so do homebuyers.

GREAT. Yet another blog on staging, you say. One more appeal to get sellers to pay money they don’t have to sell their home in a market that’s upside down like the Poseidon. Why bother? Haven’t we heard it all?

In the immortal words of Bullwinkle the Moose, “BUT WAIT! There’s more!”

The three pillars of a successful sale are: Preparation, Promotion and Price. Of the three legs, price is without question the most important of the three. Using the Pareto Principle, price actually accounts for 80% of a successful sale. Currently, discount pricing reigns supreme as REOs are flooding into the market like water through the cracked levees of New Orleans. How can a normal seller HOPE to float a normal sale against the incoming surge of lower priced homes?

Believe it or not, there are buyers out there who don’t want an REO.

They aren’t “handi” types. They don’t have the will or desire to “make the house their own.” They can’t “see the potential” and quite frankly, aren’t interested. And not everyone has the Martha Stewart gene for using a twisted fork as a curtain tieback. Many of these buyers are actually willing to pay more to buy a nice house that’s ready to move into.

Scratch most REOs off your list.

This is where an understanding of buyer psychology is critical. Sellers need to realize that Continue reading this post


Posted by: Carl Medford on January 27th, 2009 under Home Improvement, Home Staging


Where Your Office NEEDS To Be … 6 Things You Need To Do To Relocate It NOW

I am frequently asked, “Where is your office?” It’s like the location of my office means something. And to many people, it actually means a lot. It represents, in their minds, the not-so-subtle idea that you are limited to working only a short distance out from the geographical location of your desk.

And so, when asked the “magic” question, my response is always the same: “Where do you WANT it to be?”

Truth is, as a virtual agent, I do have an “office.” After all, our license has to hang somewhere for us to be legit. Although I have a great office in which to work, I’m not interested in “impressing” my clients with the size of the building or the fountain in the foyer. Instead … I meet them where THEY are.

In fact, I’ve discovered that “bringing them home to meet the parents” can raise questions you DON’T want them asking. Such as:

  • “How much money does it take to run an operation like this?”
    • “Dang … this Realtor must be bankin’ BIG bucks … wonder if I can hit them up for part of their commission…?”
    • “If they have a building like this in this economy, are they in touch with reality…?”
    • “Why do I have to drive all the way over here when I live in ________?”

Virtual agents have virtual offices. In my “real” office I don’t even have a desk. Don’t want one. My “actual” desk, when meeting with clients, is any available table at the Starbucks closest to where my clients live. Or the table in their existing digs.

Here is why this is critical: Continue reading this post


Posted by: Carl Medford on January 12th, 2009 under Best Practices, Realtor, Technology


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