The summer is winding down and so is the traditional selling season, but that doesn’t mean opportunities are gone for your sellers.
Now is when many house hunters get more serious about (finally) closing the deal and too many agents and sellers make small mistakes that keep them from the finish line.
Here are a few of the top summer selling mistakes that could stand in the way of you and your next commission and some advice on how to avoid them:
1. Don’t end your marketing too early.
Too many sellers and agent think that once the kids go back to school, the buyers are gone. As a result, they make the biggest mistake possible; they cut back on their marketing. This mistake is dangerous because it’ll cause you to miss one of the summer’s most serious buyers.
One type of buyer that emerges around this time of year is the deal hunter– that buyer who wants to take advantage of dropping demand.
To reach that buyer you have to pull out all the stops and maybe even step up you’re selling. Use this opportunity to really hammer home the value of your listings and use special ads to target the deal hunter.
2. Don’t forget to check your listing’s shine.
Let’s be honest; things can get hectic during the summer. Schedules change, vacations happen, kids are home from school, and that’s just the start. A seller’s busy schedule can take a toll on the showing quality of homes.
The good news is your sellers have an agent like you. Encourage your sellers to not only keep listings clean, but also invest in small projects that improve showing quality.
A good deep cleaning, touching up the paint, and taking care of those long outstanding “honey-do’s” are great ways to shine for potential buyers and get closer to sell.
3. Don’t slack off on showing times.
Just like showing shape, availability can sometimes suffer during the summer. It is critical for the home to be available for showings as much as possible.
Encourage your sellers to do whatever it takes to make their homes available. Also, make sure that you notify agents (via MLS showing instructions) when your clients are out of town to alert your colleague’s low hassle showing times.
4. Don’t compromise your client’s privacy.
Compromised privacy can be another side effect of the summer schedule. You need to have a conversation with your clients about their personal schedules and sensitive information that might hanging around their home. If your clients are going on a vacation, make sure that you are doing everything you can to encourage showings without violating their privacy.
The same is true when your clients have children that might be home during this time of year. Privacy and safety are always paramount.
5. Don’t leave out the lender.
Once you’ve handled 1-4 and successfully ratified a contract, it’s important to keep it together until closing. This time of year, buyers often have very tight schedules on closings. This means communicating with key parties is critical.
One of the most important parties is the lender. Make sure that you contact the lender early on, to help them meet or exceed any paperwork deadlines. This will put you on the road to a successful closing, no matter how tight the schedule.
6. Don’t Hold Back – Disclose, disclose, disclose
One of the things that can stop a deal dead in its tracks is lack of, or improper, disclosure.
You need to know the disclosure laws of your state/locality completely, and follow them to the letter. Make sure you are disclosing the pertinent facts early and in the proper manner. If there is one thing that will cause a buyer to run for the hills, it is unpleasant surprises.
7. Don’t procrastinate.
Holidays and altered Summer schedules mean you can’t always rely on your support personnel and all of the players in a real estate transaction to be available at the last minute.
Make sure that you are doing everything in your power to meet those deadlines as far in advance as possible. Give yourself as much time as you can to handle all of the inevitably unexpected issues that arise will make the bumps in the road to a successful closing much easier to handle.
Summer will be gone soon. Make sure your listing’s move with it. Follow these 7 points to create successful sales for your clients and take home more commission before fall rolls in.