10 Tips For Choosing a Real Estate Agent

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Whether you are buying or selling a property, choosing a real estate agent may be the most important decision you make. Good real estate agents can save you a substantial amount of time and money. They can also ensure that the buying or selling process is an enjoyable and memorable experience. Here are some tips for choosing a real estate agent:

1. Ask Friends/Family for Referrals

Ask family and friends for their advice on local agents. This way you will be sure to find an agent with a good reputation.

2. Consider More than One Agency

There is an array of agents that will kill for your business. That is why you should interview as many agents as you can. Compare agents with regard to their knowledge of the area, experience and qualifications. Also, ask for references from previous clients.

3. Choose an Agent that Knows the Importance of Customer Care

While interviewing different agents you will be able to establish their level of customer care or how far they will go to satisfy the customer. Look at things like their attitude towards returning phone calls and their willingness to meet with you.

4. Choose an Agent that Handles Homes in Your Price Range

When you opt for an agent that deals with homes in your price range, you will be sure to end up with an agent that will give his or her best effort. Some agents deal only with high-end properties and are used to high commissions. They are more likely to attend to these properties first.

5. Choose an Agent that Respects Your Time Schedule

If you will not be able to view properties during office hours, you need to find an agent that is willing to do business after hours or over weekends.

6. Look for an Agent that You Can Communicate With

Communication is vital when buying or selling real estate. Make sure that you choose an agent that understands your needs and that communicates them well. You will be best off if you choose and agent that registers a high level of comfort with you or with whom you are compatible with.

7. Choose an Agent that Provides Multiple Services

It will be a bonus if you can find an agent that can handle the buying/selling process as well as other additional services like arranging property inspections or who can refer you to a trustworthy real estate attorney.

8. Choose an Agent That Can Negotiate

Negotiating skills is an essential quality of a good real estate agent. Make sure you choose and agent with impeccable and proven negotiating skills.

9. Choose an Agent with Lots of Resources

Ask agents where your property will be advertised. Make sure that the agency uses print advertising (newspaper/magazines) as well as other promotional material such as brochures. Also check if the agency makes use of the Internet for advertising their listings.

10. Follow Your Instinct

Choose an agent that makes you feel comfortable and whom you trust. You level of comfort and satisfaction will let you know if you’ve met the right agent.

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Source by Elizabeth Mclachlan

The Must-Knows About Foreclosure and Its Stages

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Foreclosure:

A foreclosure occurs when a property owner cannot make payments on their loan. If a homeowner unable to keep up with payments he simply had to relinquish the property back to the bank that holds the mortgage on the house. A bank can bring a foreclosure action against the homeowner. They can sell or repossess (take ownership of) a property in order to recover the amount owed on a defaulted loan secured by the property. A homeowner’s rights to a property are forfeited because of failure to pay the mortgage. If the owner cannot pay off the outstanding debt or sell it via short sale, the property then goes to a foreclosure auction. If the property does not sell at auction, it becomes the property of the lending institution. Foreclosures are fairly straight-forward sales because the banks typically do not want to be “home owners”, they want to be “home loaners”.

Here are the five stages for foreclosure:

• Missed Payments:

Foreclosure is a long process, which varies from state to state. A foreclosed property is a property that has already been taken over by the bank. This stage begins when the homeowner falls behind on home-loan payments (or sometimes other terms of the loan). This is usually due to hardships such as unemployment, divorce, death or medical challenges. Lenders may wait for a second, third, fourth or even more missed payments before sending the homeowner a public notice.

• Public Notice:

After three to six months of missed payments, the lender records a public notice called ‘Notice of default’ (NOD) with the County Recorder’s Office, indicating the borrower has defaulted on his mortgage. Notice of default and intention to sell must be mailed to the homeowner within 30 days of the recording. This notice is intended to make the borrower aware that he is in danger of losing all rights to the property and may be evicted from the home.

This NOD includes the property information, your name, the amount you’re delinquent, the number of days that you’re behind, and a statement indicating that you’re in default under the terms of the note and the mortgage you signed when you purchased your home.

The homeowner has a given period of time to respond to the notice and/or come up with the outstanding payments and fees. If the money owed or other breach is not paid in a given time, the lender may choose to foreclose the borrower’s property.

The next step is for the lender is to file a notice of sale for the property. However, if the borrower catches up on his or her payments, the foreclosure process can be halted.

• Pre-Foreclosure:

This stage begins when lender files a default notice on the property, which informs the property owner that the lender will pursue legal action if the debt is not taken care of. After receiving notice from the bank, the homeowner enters a grace period known as “pre-foreclosure”. During this time the homeowner can work out a deal with the bank or pay the outstanding amount owed before it is foreclosed. Property owners who are in the pre-foreclosure stage may enter into a short sale in order to pay off outstanding debts. If the borrower pays off the default during this phase, foreclosure ends and the borrower avoids home eviction and sale. If the default is not paid off, foreclosure continues.

• Auction:

If the default is not remedied by the prescribed deadline the lender or its representative sets a date for the home to be sold at a foreclosure auction (sometimes referred to as a Trustee Sale). The Notice of Trustee Sale (NTS) sale is recorded with the County Recorder’s Office. Notification is sent to the borrower, posted on the property and printed in the newspaper. At the auction, the home is sold to the highest bidder for cash who must pay the high bid price in cash, typically with a deposit up front and the remainder within 24 hours. The winner of the auction will then receive the trustee’s deed to the property. An opening bid on the property is set by the foreclosing lender which is usually equal to the outstanding loan balance and any other charges. Money from the sale is used to pay off the costs of the foreclosure, interest, principle and taxes etc. Any amount left over is paid to the homeowner. In many states, the borrower has the “right of redemption” (he can come up with the outstanding cash and stop the foreclosure process) up to the moment the home will be auctioned off.

• Post-Foreclosure:

If a third party does not purchase the property at the foreclosure auction or there are no bids higher than the opening bid, the lender takes ownership of it. The property will be purchased by the attorney conducting the sale, for the lender. If this occurs and the opening bid is not met, the property is deemed as a Bank-Owned Property or Real Estate Owned (REO). This occurs because many of the properties up for sale at foreclosure auctions are worth less than the total amount owed to the bank or lender or when no one bid on it. The “bank owned” property is then put back on the market for sale, usually listed through a real estate broker.

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Source by Matthew Merenoff

Zillow Vs. The Chicago Real Estate Appraiser

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I recently read a really interesting blog article from an appraiser in Philadelphia titled “Zillow vs. The Coyle Group”. In the article, Michael Coyle analyzes over 20 of their most recent appraisals and compares them to what Zillow says they are worth via it’s Zestimate. With sites like these appearing to be gaining popularity with consumers over the last few years, I thought I would do my own analysis.

The results may surprise you, they did me. Of the 20 properties analyzed, many of which were recent sales, Zillow differed from the appraised value by more than 5% on 16 of them and the average difference was 20.16%! And the four that were within 5% were recent sales in the last 6 months. That means on an average $300,000 home Zillow’s value estimate is off by an average of $60,000. Another interesting statistic is that it was high/overvalued 10 properties and low/undervalued 10 properties. To further substantiate my results I compared them to The Coyle Group’s and noted that they found an average difference of 18.95%.

When digging deeper into the individual properties, I was unable to determine what exact factor lead to some of the biggest discrepancies. For example, the Glencoe Colonial property is currently an 1100 sq. ft. split level that is going to be torn down and a new 3200 sq. ft. home built. It is listed for $1,199,000 (the exact Zestimate value) and is under contract for around $1,050,000. This would lead me to believe that Zillow is giving the MLS list price the most weight and ignoring the actual property characteristics. However, the Zestimate was off by 41% on the Portage Park bungalow which was listed for $460,000 and sold for the same price. In this case, why would the Zestimate be $273,265? It must have ignored the list and sale price when it appeared to rely exclusively on list price on the Glencoe proposed construction. Yes, I’m scratching my head as well.

While I am not here to breakdown Zillow’s method or algorithm used for determining values, I do want to caution the prospective homebuyer/seller about relying on Zillow’s values and advise that you hire a certified appraiser to ensure that all factors have been included in the opinion of market value. This will prevent you from listing your home too high which could lead to your house being on the market way longer than is necessary. It will also prevent you from listing your home too low and potentially leaving money on the table.

You can read Zillow vs. The Coyle Group here.

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Source by Paul R Rowe

How to Find a Good and Reliable Home Buyer?

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Your home is the most important investment of your life. A home can be a really useful investment, as it appreciates in value quickly and can also be converted into cash easily. Your home is one single asset that would be able to generate a huge sum of money for you quickly at the time of need. Find a good buyer and make the sale, it is as easy as that.

When it comes to finding a home buyer what are the options that you actually have. The first option that would come to mind is the path that has been followed for several years now. The real estate agent has been the most sought after person when any person thinks of “how to sell your home?”. Looking for a good and reputed real estate agent and having your home listed for sale is what you must do. Your home would be listed among the many homes in the locality. For attracting a good buyer it is important that you refurbish the home and have it painted if possible. A good looking home at a good price is definitely appealing to a buyer. This however, means first the effort to locate a good and reputed real estate agent, paying his hefty fees and then the wait for a good home buyer. In the fast paced world of today, not everyone has the kind of time that a real estate agent would need to sell the home. It is time that you take advantage of what technology has to offer.

A cash property buyer is the new age answer for selling house quickly. A cash property buyer can be located easily with the Internet. With websites that can get a free estimate for your home by simply filling out a short application, you are on the fast track right from the beginning. You also save a lot of money as the fees for valuation and the legal fees is eliminated completely. A cash property buyer works as an important link to sell house fast. With no viewings and the condition or location of the home not being of any consideration while fixing the price it surely is a deal that has the interest of the seller in mind. Unlike a real estate agent who tries to make some good money both from the buyer and the seller, you would have here a deal that is both quick and transparent. With a reservation fee paid and the entire deal closed in 1-3 weeks flat, you have the money in hand even before your know it.

With many cash property buyers offering services of varied kinds, it is important that you verify the credentials of the company before saying a “yes”. A little research can save you a lot of time, effort and money. A reputed cash property buyer is a good and reliable home buyer and you can sell house fast without any hassles whatsoever.

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Source by Jane Hopton

What is a Short Sale and How Does it Connect to the Foreclosure Process?

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The term short sale has been brought up more and more in the real estate world as the property market has corrected to a more sustainable growth level. Depreciation of home values over the last few years has led to homes that are worth less than the mortgages that were used to finance the purchase. This situation coupled with a nationwide recession that has created the need for people to sell their homes despite being “underwater” has led to the recent popularity of short sales.

What Is an Underwater Loan?

A home loan or mortgage that is higher than the actual value of the home is said to be underwater. Over the last few years this situation has become a common occurrence as homeowners who bought at the peak of housing prices with little or no money down have seen their property values decrease, sometimes dramatically. They began with a $300,000 loan on a home that appraised around that value, and now their mortgage amount is around the same, but that same house appraises for less than $250,000.

With the rise in unemployment, many homeowners who have found themselves in this difficult situation have been forced to sell their home because they can no longer afford the mortgage. The problem that occurs is that even if the homeowner sold their home for $250,000, they would still owe the bank the additional $50,000, which holds up the sales process. This hurts everyone involved because the original owners cannot pay the mortgage, so they default on the loan. The new buyers who are excited about the home are not allowed to buy it at the new market price. Finally, the bank that holds the mortgage will not let the original owner sell, does not receive a payment each month for the mortgage, and must now go through an expensive and time consuming foreclosure process to get possession of a home they will only be able to sell for less anyways.

Buying and Selling a Home with a Short Sale

This is where short sale comes into play. In a short sale the original homeowner who is underwater will get an agreement from the bank to complete a short sale and put their home on the market at the current local price. When a buyer decides to purchase the home, the bank agrees to let the sale take place and take a loss on the original mortgage. Ultimately, this type of legal settlement allows the homeowner and bank to avoid a costly and credit damaging foreclosure process. The owner will still take a hit on their credit score and the bank will lose some money on the transaction, but the overall solution is much better than foreclosing on the home.

Foreclosures and Short Sales

Short sales are becoming more common with our current correction in home prices and high unemployment, but many bands still make the process very difficult for the owners because they do not want to take a loss on the loan. For this reason, many banks will not consider the option of a short sale until the homeowners are already several months behind on their mortgage. In addition, banks reserve the right to not accept the price the new buyer offers for the home if they think it is too low. This creates tension between all parties involved, and if unresolved leads to the eventual foreclosure of the home.

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Source by Preston Guyton

Sell Your Own Home and Profit Big – Who Needs an Agent Anyway?

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Did you know that you can sell your home and save commission using the latest ‘for sale by owner’ methods which are available? This means that you can profit and profit in a very big way by seeking out the services of a company that’s designed to help you sell your home so that you can skip using an agent all together. Pretty great, don’t you agree?

Nobody is crazy about the idea of using a realtor and for good reason. The typical real estate agent can be a rather arrogant person and somewhat pushy. He may insist that you follow his set of rules. He might tell you that you have to re-arrange your furniture multiple times or do something like buy new curtains so that your home ‘looks right’ in his eyes. Plus, he will undoubtedly give you all types of other directives which you may not appreciate too much. To add insult to injury, you will be told (often at the drop of a hat) to leave your home whenever a prospective buyer is coming for a walk-through. This can be very inconvenient as you can imagine – especially if you have small children and pets.

You may think that you don’t have what it takes to conduct a private real estate deal. But if you think about it, who knows your home better than you do? You purchased your home because of it’s unique character, charm, building style, features, etc. This makes you the perfect DIY real estate agent because you can tell interested buyers all the great things about your home and why you bought it in the first place.

You can literally save thousands of dollars in commission fees by using a service which provides you with everything you need to sell your home. For a nominal fee, your property will be advertised on many of the largest existing real estate websites for several months. You also will typically be given a ‘for sale by owner’ sign, a ‘sold’ sticker as well as a simple guide which walks you through the entire process of how to properly conduct private home sales.

An increasing number of consumers are choosing to use this type of service which makes it very easy to sell a no agent property. If you choose to go with a service which helps you sell your home the DIY way, you can expect to be given access to no-cost, ongoing professional advice and assistance from a licensed real estate agent who can guide you in the right direction so that you will not have that ‘for sale by owner’ sign in your yard for long.

Due to the less-than-optimal economic conditions we have been forced to live with during past few years most of us these days are watching our money and are ‘tightening our purse strings’ so to speak. Many people are drawing up household budgets, are becoming coupon-clippers and are watching for discounts and sales on everything from clothing to food – all in the attempt to save money. Consumers are also looking for ways to save money whilst selling their homes so it should come as no surprise that many sellers are choosing the DIY route.

Private homes sales are now routinely being done each and every day and are quickly becoming the norm in the real estate world. This is because an increasing number of home owners are realizing that selling their own properties is far easier than they had previously thought. And, because no agent is involved in a private home sale, all of the commission money is pocketed by the seller.

By taking the ‘for sale by owner’ path, not only can you save thousands of dollars in commission, but you also will have 100% control over the price you are willing to accept for your home. When you are using an agent, it is very likely that he will allow a buyer to ‘talk him down’ a few thousand dollars just because he is eager to close the deal. Don’t let an agent walk all over you – sell your home yourself and save a bundle as well as a ton of headaches.

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Source by Cindy Rupp

Real Estate Signs – How to Use Them Effectively

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Selling real estate is a tough proposition, whether you are a home owner or a realtor. However, there are some tools that you can use to improve your chances of a sale by attracting the attention of potential customers. Once you decide you want to sell a property, you have the gigantic task of getting the word out there so everyone knows that the house is available. Putting up real estate signs near the property and at other relevant locations is an effective way to spread the word.

Some homeowner associations may have rules pertaining to putting up these signs in your yard. It is important to ensure that you are not breaking any size or placement restrictions while putting up the For Sale signs.

Signs by Owners

For Sale by Owner signs are put up by home owners who do not want to take help from any realtor. These signs are generally simple as they have little information that needs to be included.

For Sale Signs by Agents

Real estate signs put up by realtors have to include much more information. Such signs serve the dual purpose of attracting a potential customer’s attention toward the property, and of promoting the brokerage and agent. Generally, these signs contain the name and address of the brokerage, office phone number, company logo, and web site information. Some signs may also include additional panels with information such as price reduction, actual asking price, and agent’s cell phone number.

Placement of Signs

The basic reason for putting up the sign is to gain the attention of any potential buyer or interested party. Once you have designed the perfect sign, it has to be placed well for it to have a maximum effect.

  • One vital aspect to remember is that the sign has to be visible from the street. While placing the sign, you need to factor in the existence of parked cars, trees, and even telephone poles that might affect the visibility of the sign.
  • It is a marvelous idea to place the sign near the sidewalk.
  • For homes located at corners, it might be prudent to install two signs – one on each street.
  • There is no point in placing signs at places that do not attract too many visitors. If the house is at a faraway location where traffic is limited, consider asking home owners who live closer to busy streets whether you could place directional signage in their yard.

Signs that give real estate information are an effective and inexpensive way to advertise the property. You can customize these signs to meet all your requirements.

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Source by Kristopher Daia

FSBO – How to Prepare Your House to Sell

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Did you hear that? Prices of houses in Phoenix have been jumping 5% each month for 2005 according to market experts! Some even predict that the price of housing could jump an additional 10% for the upcoming year. The shortage of houses for sales and the still relatively low interest prices are causing the price of homes not just here in Phoenix but nationwide to escalate. What does this mean? If you are thinking about selling your home, there is no better time than the present. Jump on the bandwagon!

Okay, great, you say. I’ll buy a for-sale-by-owner sign, set it out in the front yard, host an open-house this weekend. I should have my house sold by the end of next week! Well, two months later, that for-sale-by-owner sign is still in the front and you don’t have a buyer. Do not think that just because there is a shortage of houses for sale, selling a house is a piece of cake. It may not as easy as you think. Instead of using a Realtor, you are determined to sell the house yourself. That’s fine and it’s possible. People do it all the time; however, what are some tips to help you prepare your house to sell. I have done the research and found four minimal-cost tips in preparing your sell:

1. Clean-up. The first impression is always the lasting one. You want potential buyers to be impressed the moment that they spot your house from the street. Everything from the yard, to the windows, to every room inside should be squeaky clean. And if you have a collection of, well, several collections of…stuff, it’s distracting to the buyer and really takes away the beauty of your home. If you can’t part with those items, pack them away in boxes. A potential buyer won’t be offended by a few packed boxes in the house. They most likely are expecting you to be preparing to move anyway.

2. Deodorize. This goes hand-in-hand with cleaning your house and removing the clutter. If your house smells, it won’t sell. If the house has been vacant for a while, there is nothing more offensive to a potential buyer than the smell of mildew. Please take care of the mildew before showing the house. And you petowners, understand that your precious little pets that you keep indoors are not odor-less. You just have become accustomed to the smell. A potential buyer will pick up the pet order immediately. The same is true for cigarettes.

3. Re-paint the house. Okay, you may have enjoyed a blue kitchen, an orange living room, and a red bathroom. But your potential buyer may not be as cutting-edge. Experts agree that neutral colors are best in showcasing your house. Also take a second look at the decorations on the wall. Remove anything that could be offensive to your potential buyer.

4. Embrace the sun. I don’t particularly care for the Phoenix heat, but I love the sun. It symbolizes laughter, happiness, brightness, things that are upbeat and positive. Open the blinds and curtain in your house and let the sunshine in!

Remember, you want to impress the potential buyer. By following these four simple tips, you can be a step-ahead of the game in reducing the time it takes to sell your house. However, if you don’t have the time it requires to sell the house yourself and don’t want the expensive of hiring a Realtor, please visit my website to read the free report, Sell Your House in Seven (7) Days at [http://www.adpropertyconsultants.com].

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Source by Andrea Groves

10 Quick Tips On Curb Appeal

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Curb appeal is the first impression of your home especially when you are trying to sell it. Make it count and woo in buyers to come inside. I know you are probably thinking curb appeal is the last thing on your mind. Why should you spend any time on the outside when the inside is good enough?

Because the first impression people make is the one they will stick with. Buyers make an opinion within 8-10 seconds of seeing the home. When they pull up to the home, the curb appeal is the first thing they see.

And if the outside isn’t taken care of, then what makes the buyer think the inside is well maintained? So here are 10 tips on how you can make a great first impression with your curb appeal

1. Mow the lawn – Tall grass is an indication that you no longer live there or don’t care. Either one is bad. If you had to move out before selling your home, have a lawn service come over weekly to keep the grounds maintained.

2. Mulch beds – If you have flower beds in the front of your home, rake up the mulch so it looks fresh. Make sure the mulch has not receded to the point of showing bare ground. Add more if needed.

3. Get rid of weeds – Weeding can be an almost weekly chore, but it makes such a difference if you have a beautiful garden. Weeds are like clutter in a garden. Pick them out to show off the plants and shrubs.

4. Power wash sidewalks/house – Hire out or rent a power washer to get your sidewalks and siding cleaned. It is the easiest way to freshen up the outside without painting. Just like you scrubbed those kitchen counters and stove, the sidewalk and siding need that same elbow grease.

5. Cut shrubs back away from the house – I’ve seen many houses where the shrubs are planted right next to the house and they seem to swallow up the home! Cut them back so that you can actually see the house. If you have tall trees in front of the house, lift the tree canopy by cutting the lower limbs so you can see the home as well.

6. Remove cobwebs and insect homes (wasp nests) – Walk around your home and sweep away the cobwebs. If you power wash your home, you may have already gotten them. Pay particular attention to any potential wasp nests under the eaves and remove them. Not only will it help clean up the house, but you don’t have to worry about getting stung later. If you have an infestation, call a professional to remove them right away.

7. Sweep/wash the porch – If you have a porch or an alcove to the front door, dirt and dust can accumulate here too. Make the front door area welcoming by adding a plant holder with a potted plant or a colorful chair.

8. House numbers need to be visible – Nothing is more frustrating than looking for house numbers. Be sure to put the numbers on the door or just beside it. Make sure your mailbox has numbers on it too. If there is no mailbox and your house is hidden behind some trees, add a post at the end of the driveway and screw numbers to the post. That way, there is no confusion on the address.

9. Front door stands out – You would be amazed at how many homes have multiple doors on the front of the house. Make sure there is a clear path to the front door and nothing hides it like bushes or potted plants. Give your front door a fresh coat of paint if it needs it.

10. Fix broken items (solar lights, steps, screen) – I see this all the time. Solar lights installed along the walkway but they are missing tops, fell over or have been stepped on by the dog. Fix them or remove them.

Again we are trying to woo the buyer into coming into the home. If they have to walk through a jungle to get to the front, it could scare them away. Polish up that curb appeal and you will be on your way to moving out quickly.

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Source by Kasia McDaniel

Could You Sell The Eiffel Tower Twice?

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What could you, as a real estate agent, learn from the conman who sold the Eiffel Tower twice?

Back in the good old days (the 1920s) there was a man named Victor Lustig who was a smooth-tongued criminal that went from one con to another, always looking for a way to separate people from their money.

He was involved in many scams throughout his career. But the scam that would make him famous throughout history involved the Eiffel Tower.

In 1925 Lustig, who was always looking for a new con, was in Paris and happened to noticed an article in the newspaper describing how the French government was having a hard time maintaining the Eiffel Tower. Being the consummate conman that he was, an idea popped into this mind. Why not sell the Eiffel Tower?

The first thing he did was have a counterfeiter create official government stationary and personally “appointed” himself to the prestigious position of Deputy Director General of the Ministère de Postes et Télégraphes. Then, letters were sent out on the official looking letterhead to five different scrap iron dealers; they were purposely vague and simply invited them to discuss a possible government contract.

When everyone arrived for the meeting, and after entertaining the men for a bit, Lustig made the surprise announcement that the government was indeed scrapping the Eiffel Tower.

He noted that the tower had been built in 1889 and was never intended to be a permanent structure, which everyone knew was true. He mentioned how the government could no longer afford the upkeep, something that the men had already read about in the paper. The paper had mentioned that the Eiffel Tower was in great need of repair, the cost was very prohibitive, and there was a brief comment that the government was actually exploring the idea that it might be cheaper to rip it down than to repair it. He was careful to stress that this was a very controversial decision on the government’s part, so the men had to keep quiet regarding the tower’s demise or risk public outcry.

Lustig then arranged to take each man on a tour of the tower to establish rapport, determine their emotions and select his “mark”. After interviewing each scrap iron dealer he selected a man named André Poisson and worked his sales magic.

After the sale was complete, Lustig immediately left for Austria. He made no attempt to hide and lived the life of luxury at Poisson’s expense. Each day, Lustig checked the Paris newspapers for news of his con, but it was never reported in any of the papers. He concluded that Poisson was too embarrassed about falling for the con and had decided to eat his loss. Knowing he was in the clear Lustig headed back to Paris a year later and pulled the same exact scam again.

Yes, you read it correctly, Lustig sold the Eiffel Tower a second time! But he wasn’t as lucky that time around. His mark went to the police and the story exploded in the press. Lustig was forced to leave Europe and head to the United States. There would be no third sale of the tower.

What does this conman have to do with you as a Real Estate Agent? Well, a lot actually. While selling the Eiffel Tower Lustig used specific techniques that Natural Born Sales people use; sales techniques that you should be using too.

Con-men and natural salespeople have exactly the same abilities. However, there is one significant difference between the two and that is intent. Con-men use these techniques of psychology to harm people in a win/lose proposition. The conman wins and the person they are working with loses… sometimes everything.

On the other hand, the Natural Born Salespeople use the same techniques to help people in a win/win proposition, helping their clients obtain their dream and buy a home, while becoming the top 10% of real estate agents doing it.

They are both experts at using psychology.

They are both experts at using the client’s emotions to sell.

They are both experts at using and gaining rapport.

They are both experts at finding out what the client’s unconscious mind wants.

They are both experts at finding out what emotions are driving that person and using those emotions to make a sale.

The difficulty comes when you try and get a natural born sales person to teach you to sell like them, and they can’t. They can’t because most natural born sales people have absolutely no idea how they do what they do. It comes naturally to them and they don’t even have to think about what to do to make a sale. This is why many top sales people make the worst trainers. They can’t teach what they do.

Now for the good news. These psychological sales techniques can be learned and mastered, and once mastered can propel you to the top.

For example, one psychology of sales principle is that people buy based on emotion and justify with logic. I am pretty sure you are even familiar with this principle, but do you know how to use it to make sales?

Imagine if you knew exactly how the principle worked, you could use it to help your clients while becoming a better agent yourself.

One of many natural skills, sales professionals and con men use, is to listen and ask questions until they understand exactly what the person wants, not only consciously, but more importantly unconsciously. This is one of the biggest mistakes many, if not most, real estate salespeople make, they listen but they don’t really understand.

In a sales situation, and even in everyday conversation, people use “Code Words”. For example a client might tell you that they are looking for a house with a view. The word “view” is a code word. You might think you know what it means but you really don’t. You understand what “view” means to you but not what it means to your client.. The Natural Salesperson instinctively knows they don’t know what “view” means and are able to extract the real meaning from the client.

Not too long ago this happened to a brand new agent I was working with. I was teaching her about code words. She seemed a bit confused at first and then suddenly you could see the light came on in her head. She told me that over the last couple months she had been working with a couple looking for a home. She had asked them what they wanted and they told her a house with a view. With that in mind she kept taking them around and showing houses with views. The agent happened to live in the Great North West where there are killer views of the mountains, valleys, and rivers, so there was a lot to pick from. But no matter what she showed them the wife was never happy.

One day while showing them a houses, they passed a neighborhood and noticed a sign leading to a house that had just that day gone on the market. They decided to call the listing agent and were able to go see it that day. While going through the house the wife commented on what a great view the house had and the agent was shocked because the house was completely surrounded by trees, and there was no view! The agent, while looking out the window at all the trees, asked what she meant and the wife said, “I can’t see any cars”.

For months the agent had tried to find a house that had, what the agent considered, a view, but it was never what the wife considered a view, and the agent was clueless. By “view” the wife meant she wanted to be able to look out the windows and not see any of her husband’s cars, equipment or tools… that’s what a good view meant to her.

Maybe if you understood code words and the other techniques used by the Natural born Salesperson you’d be able to sell the Eiffel Tower too. And if you could sell the Eiffel tower a couple times when it wasn’t even for sale think of how many houses you could sell that are.

Oh and as for our conman Lustig, he ended up dying in Alcatraz prison (where he was sent after being convicted of a counterfeiting scheme) and his death certificate listed his occupation as salesman.

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Source by Ken Ellsworth

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