Succeding in Today's Real Estate Business

Residential real estate professionals need to get back to the basics of your business or you will certainly lose your customer base. The industry is dealing with the continuing impact of subprime and mortgage liquidity problems in the housing market.
Some realtors complain of the conditions of the market, but if their home is priced right, buyers will buy. You need to inform your buyers that our local market is simply phenomenal because prices are down and interest rates are historically low.
The realtor needs to research the market so he could list the house just one hair below the competition. You will need to go back to the basics-from sending out ‘Just Listed' and ‘Just Sold' postcards to holding buyer seminars and staying in touch with former clients and prospects. It is important to increase your visibility in your community and your marketplace. Knock on doors; reintroduce yourself. Do not forget to place in the contract an agreement with the seller that if the property is not sold in a certain time span, the listing price will be revisited for a possible reduction you need to be aggressive and realistic in pricing homes for sale. In this market is a good idea to target market your prospecting to homeowners who have to sell for whatever reason, such as deaths, divorces, company relocations and downsizing.
The simple solution to the actual situation in the marketplace is to spend your time increasing the number of your listing inventory. You need to spend 100 percent of your time focused on getting your product in front of the consumer
Even though the according to NAR 87% of buyers are starting their search in the Internet , only 5% of them is ready to buy in that moment. So as a realtor you need to educate your customers on the realities of the local marketplace. Also if you get a prospect to contact you through the Internet it is important that they receive immediate response. You can have an automated system in place or a personal assistant for customer follow-up a Blackberry can help also these are critical components to establishing and maintaining a good relationship with both clients and prospects.
Get yourself consider as the expert in your local marketplace, the easiest way to do this is by offering current housing data to the local media.
Most real estate companies are obtaining good results by using virtual tours and sending the tours and slide shows of properties on discs, using panoriders (this are riders with a panoramic tour of the property and a URL containing the address of the property that is attached to the virtual tour) thereby creating detailed exposure of the property for their prospects. This gives them more information than sending the standard photos and listing data.
You need to change your approach to fit today's changing marketplace. Do something different to rebuild your productivity or you may find yourself doing something different tomorrow to make a living.
Right now there are some signs indicating that Miami's real estate housing market is showing some signs of recovery. If you check you will see fewer foreclosure signs, that home prices are stabilizing and less time required for listings to sell. Maybe the most important of all is that the media is becoming more positive.
for any of your virtual tours needs in Miami Beach, Miami Dade or Broward counties remember to contact Virtual Florida Tours at (305) 331 8960 or www.virtualfloridaraltours.com.

Reference: Monte Helme; "Say ‘Yes' to Results - A Dozen Ways to Say ‘No' to Negativity"; retrieved from realestatemagazinefeedback@rismedia.com