Real Estate Marketing

449 Pages·2006·1.71 MB·English

Real estate can be a rewarding and profitable career — if you have the savvy and the “know-how”
to succeed! Unlock the secrets to a rewarding career in real estate with Real Estate Marketing &
Sales Essentials. Follow these key steps for successthat allow you to focus on the core elements
essential to thriving in this exciting and dynamic industry.
BBAACCKK TTOO BBAASSIICCSS
All the latest technology applications and media tools are worthless if you don’t have a solid
understanding of the essentials of successful marketing and sales. Written by a real estate
training authority,Hamilton provides you with the fundamental steps for successthat have
successfully launched profitable careers for hundreds of agents like you.
PPRROOVVEENN MMOODDEELL FFOORR SSUUCCCCEESSSS
Hundreds of new real estate agents have put these essential steps to work getting their careers
off to a rapid and successful start— and so can you! Originally used as the exclusive training
book for Century 21,Judge Fite Company (the second largest Century 21 in the world),the
humorous,real-world scenarios and detailed steps provide a solid framework for staying on
track for a rewarding career.
HHIITT TTHHEE GGRROOUUNNDD RRUUNNNNIINNGG
This book walks you step-by-step through the major daily activities
of a real estate professional,including
• prospecting for seller • client follow-up,
appointments, • referrals,
• seller listing procedures, • contract writing,
• prospecting for buyer • negotiation,
appointments, • closing,
• buyer listing procedures, • financing,and more.
• objection handling techniques,
You’ll also find sound advice on the characteristics of successful salespeople,
equipping you with insight on essential skills as professionalism,ethics,
technology,time management,and the psychology of marketing.
By applying these practical,no-nonsense guidelines,you will be taking the
first critical steps to rapidly moving your career in a profitable direction.
ISBN 0-324-31410-8
90000
Join us on the Internet
South-Western– http://www.swlearning.com
Real Estate– http://realestate.swlearning.com

9 780324 314106
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Real Estate Marketing
& Sales Essentials:
Steps for Success
Dan Hamilton
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Real Estate Marketing & Sales Essentials:Steps for Success,First Edition
Dan Hamilton
VP/Editorial Director:Jack W. Calhoun Manufacturing Coordinator: Charlene
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COPYRIGHT © 2006 Thomson Library of Congress Control Number:
South-Western, a part of The Thomson 2005923684
Corporation. Thomson, the Star logo, and
South-Western are trademarks used
herein under license. For more information about our products,
contact us at:
Printed in the United States of America
Thomson Learning Academic
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Resource Center
ISBN: 0-324-31410-8 1-800-423-0563
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For permission to use material from this
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Dedication
This book is dedicated to
Judge B. Fite and his lovely wife, Dene Fite,
for their life-long dedication to real estate
and the business of serving others.
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Contents
REAL ESTATE MARKETING vii
1 REAL ESTATE PROFESSIONALISM
AND ETHICS 1
2 CHARACTERISTICS OF SUCCESSFUL
SALESPEOPLE ANDTIME MANAGEMENT 28
3 TECHNOLOGY FOR THE REAL ESTATE
PROFESSIONAL 57
4 PSYCHOLOGY OF MARKETING 71
5 MARKETING & ADVERTISING 77
6 LAW OF AGENCY AND ALTERNATIVE
REPRESENTATIVE AGREEMENTS 92
7 PROSPECTING FOR SELLER
APPOINTMENTS 104
8 SELLER LISTING PROCEDURES 157
9 PROSPECTING FOR BUYERS 205
10 BUYER LISTING PROCEDURES 219
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Contents
11 OBJECTION HANDLING TECHNIQUES 233
12 CLIENT FOLLOW-UP 257
13 CONTRACT WRITING 263
14 NEGOTIATING AND CLOSING 268
15 AFTER ACCEPTANCE 289
16 FINANCING 296
17 REFERRALS 304
18 DECEPTIVE TRADE PRACTICES ACT
AND CONSUMER PROTECTION ACT 311
APPENDIX 323
Sales Communication Steps 324
Approach—The Process 325
Need Determination—The Process 326
Need Determination 328
Buyer Client Questions 329
Buyer Pre-Qualification Worksheet 330
Additional Buyer Questions 331
Closing Checklist 332
Contracts for a “For Sale By Owner” 333
Documentation Needed at Loan Application 334
Fair Trade Items (Seller) 335
Comparison of FSBO and Broker 335
Hamilton’s Rules of Real Estate 336
Keys to a Smooth Closing 337
21 Steps to Marketing Your House 340
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Contents
Net Proceeds to the Seller 342
Newcomer’s Packet Requirements 343
Open House Trigger Card 344
Checklist for a Successful Open House 344
Arrive at Open House 345
21 Questions That Help Your Property Sell Faster 346
Information Needed for a CMA 347
Real Estate Services 348
Scripts for All Occasions 351
Suggested Web Sites 388
A Real Estate Transaction Step by Step 389
Professionalism Checklist 390
Personal Budget 392
Goal Plan 394
Fair Housing Self-Assessment 395
Goals 398
GLOSSARY OF REAL ESTATE TERMS 399
CREDITS 413
INDEX 416
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Real Estate Marketing
Overview of Book
Real estate marketing is the avenue to making money in the real estate
business. Marketing permeates all businesses including the real estate in-
dustry. It allows customers to know the real estate salesperson and how to
reach them. It allows real estate salespersons to go out and bring customers
to them. Marketing can cost a fortune or can cost very little and each can
be effective. It can be extremely time consuming or it can take very little
direct time. The best marketing is derived from the mind and the more the
mind thinks about marketing, the reality of successful marketing becomes
clear. This book is designed to open the reader’s mind to the vast array of
marketing for the real estate profession.
Objectives of Book
The first objective of this marketing book is to give the reader numerous
avenues to make a great deal of money selling real estate. Readers should
evaluate their inner strengths and weaknesses, determine what will work
for them, and then do it. Most authors and trainers know less than one of
one hundred people will do what is needed to become wealthy. This book
is a guide to doing just that.
The book’s second objective is to help the reader meet the requirements
of the Real Estate Commission for Salesman’s Annual Education (SAE)
credit. It is designed for use in conjunction with 60 classroom hours of
core related instruction by a certified trainer using this book.
This book concentrates on residential real estate, as most real estate li-
censed salespeople are residential. If you specialize in commercial, farm
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Real Estate Marketing
and ranch, or other special types of real estate you can still benefit from
this book if you convert the thinking just a bit.
DanHamiltonisanadvocateforrealestateeducationandiscertifiedbythe
TexasRealEstateCommissiontotrainin12topicsincludingrealestatemar-
keting,principles,finance,practices,andagency.Hamiltonistheleadtrainer
forLicensureandRenewalattheRealEstateTrainingInstitute.Hehasbeen
an owner and a broker owner of successful real estate offices inTexas. In
5 consecutiveyears,hewasawardedthehonoroftheNationalWho’sWho
for business and has received other honors such as Top Office Producer,
Multi-Million Dollar Club, and Top Ten on the Board of REALTORS.
Currently,HamiltonistheDirectorofTrainingforCentury21,JudgeFite
andtheOperationsManagerforRealEstateCareerTrainingSchool.
Where to write for Questions for the author
Dan Hamilton
1140 Empire Central, STE 520
Dallas, TX. 75247
888-782-2300
E-mail: [email protected]
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Chapter 1
Real Estate
Professionalism
and Ethics
1