Make More Money, Find More Clients, Close Deals Faster: The Canadian Real Estate Agent’s Essential Business Guide

From the introductory chapter of Make More Money, Find More Clients, Close Deals Faster

I believe there are three components involved in "qualifying" to be a realtor. First, you need to have, or be willing to learn and develop, certain attributes and skills. Second, you need to become licensed to practice real estate brokerage in your province. Finally, but perhaps most important, you need to buy into the philosophy that you are your own business. A realtor provides services, and therefore you need to continuously learn, improve, and upgrade your qualifications. Although this is the second real estate book I have written and I teach commercial and residential real estate at the university level (University of Toronto Continuing Education for commercial, and York University for residential), I learn something new with just about every deal I work on.

I absolutely love what I do for a living. There are very few professions in which you can be a combination of entrepreneur, salesperson, friend, advisor, negotiator, and dealmaker, while also having the freedom to create your own schedule and have the potential to earn a substantial income. If you bring the right attitude and discipline to the table, even if you are not a natural salesperson the "job" of a realtor can provide a great deal more for you than you can imagine both financially and in lifestyle.

I don′t believe in mincing words, so I will be blunt from the beginning of this guide to the end. My hope is that this book will enable realtors to improve in their career, be motivated to aim higher, and earn more money.

Acknowledgements xi

Part I: The Business of Real Estate

Chapter 1: Is Real Estate for You? 3

Qualities of a Top Realtor 5

What Type of Real Estate Is Right for You? 9

Commission Structure 11

Developing Your Own Style 13

The Regulatory Bodies 14

Chapter 2: Finding a Brokerage that Fits 17

Commissions and Fees 18

Support and Training 19

Type of Brokerage and Community It Serves 20

How a Brokerage Operates 24

How a Brokerage Makes Money 27

Online Brokerages 27

Chapter 3: How Do You Make Money and Find Clients? 29

The Money Part 29

The Clients Part 31

Creating Relationships and Making Connections 33

Part II: Representing the Seller

Chapter 4: When Meeting with a Client 39

Putting a Client at Ease 39

Helping a Client with the Fine Print 43

Chapter 5: Pricing Strategies 49

Factors to Consider in Establishing an Asking Price 49

Motivating a Seller to Accept an Offer 52

Chapter 6: Preparing a Home for Sale 57

Home Staging 57

Should You Consider Being Certified as a Home Stager? 61

Chapter 7: Using Digital Tools for Branding and Marketing 63

Digital Media 63

Digital Photographs 64

Social Media 65

Social Media Branding 66

Social Media Strategy 67

Twitter 67

Facebook 69

LinkedIn 70

Realtor Websites 72

Search Engine Optimization (SEO) 72

Researching Keywords 73

Using Keywords in Titles 74

Continuing to Write More Content 74

Including Images 74

Getting External Links 75

Integrating Social Media 75

Other Advertising and Marketing 75

Chapter 8: From Showing to Offer 77

Working with Other Realtors 77

Holding an Open House 78

Keeping the Seller Client Calm during the Sale Process 79

Dealing with Multiple Offers 80

Chapter 9: Getting to Closing 85

Negotiating a Deal 86

Helping the Client beyond the Deal 88

Part III: Representing the Buyer

Chapter 10: Knowing What Your Buyer Client Really Wants 93

Meeting Face to Face 93

Questions to Ask the Client 95

Use the Funnel Approach 96

Taking the Emotion Out of Buying a Property 100

Chapter 11: Showing Properties to Your Clients 105

Preparing to Show Properties 106

Negotiating Lock Boxes and Showing Etiquette 108

Useful Links 118

Chapter 12: Explaining the Terms of a Listing to Your Client 119

Explanation of Terms 119

Chapter 13: The Offer to Purchase: It s a Contract 127

Terms and Explanations 129

Chapter 14: For Sale By Owner versus a Full–Service Brokerage 137

Commissions and Values 141

Chapter 15: Tips for Working with Listing Agents, Dealing with Multiple Bids, and Meeting Conditions 143

Working with a Listing Agent 143

Managing Multiple–Bid Situations 145

Conditions: Always a Balancing Act 147

What If a Home Inspection Digs Up a Problem? 150

Chapter 16: Guiding Your Client through the Final Closing Process 153

Closing Costs and Related Expenses 153

Waiving of Conditions 154

Title Insurance 155

Part IV: Setting Up a Network of Experts

Chapter 17: Professionals You Need to Have in Your Circle 159

A Real Estate Lawyer 159

List of Other Professionals 160

Where Can You Meet Other Professionals? 163

Chapter 18: Building Relationships with Other Realtors 165

Create an Atmosphere of Cooperation with Other Realtors 167

Part V: Tales from the Trenches

Chapter 19: Real–Life Stories about Deals 177

Chapter 20: Words to the Wise: Pitfalls and Tips to Avoid Them 185

Real Estate Professionals Answers to Common Questions 187

Appendix A: Helpful Tools and Further Reading 201

Appendix B: Glossary 203

About the Author 207

Index 209

Claude Boiron is co–author of Commercial Real Estate Investing in Canada: The Complete Reference for Real Estate Investors and Professionals. As a real estate broker, he has transacted deals ranging from a couple purchasing their first home to complex commercial deals involving many millions of dollars, to residential, commercial, and industrial rentals. Boiron teaches a course entitled "Commercial Real Estate Investing" at the University of Toronto′s School of Continuing Studies and a series of courses on residential real estate at York University. He is also retained by real estate brokers to teach a ten–week course entitled "Real Estate Sales Training" to their salespeople.