Unlimited Possibilities-Realtor Rally 2010


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We’ll discuss how to use various MLS features and ancillary services in working with sellers to maximize listing exposure. Then, we’ll move into agent productivity features and how to use the MLS to best serve your buyers when looking for their new home in today’s challenging market. Everything we’ll showing you today in inclusive with your Metrolist membership. For those of you who are not Metrolist members, please be sure to look for similar features in your MLS system.

Presented by Ed Hardey and Melissa Olson during Realtor Rally 2010, Denver CO.

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  • Ed: Before we get started, let’s take a quick poll. How many of you are Metrolist members? How many use another MLS in addition to or as your primary MLS? Melissa: We’ll discuss how to use various MLS features and ancillary services in working with sellers to maximize listing exposure. Then, we’ll move into agent productivity features and how to use the MLS to best serve your buyers when looking for their new home in today’s challenging market. Everything we’ll showing you today in inclusive with your Metrolist membership. For those of you who are not Metrolist members, please be sure to look for similar features in your MLS system. Ed: In today’s real estate market, it’s imperative that we take advantage of every cost-saving opportunity they have to develop their own, unique competitive position. As a Realtor with ____ years experience, I use a variety of Metrolist tools and services to boost my productivity and make the most of my monthly membership. Melissa and I are going to present some of these often overlooked MLS features and discuss how they can help today’s Realtor.
  • There’s no need to know how to calculate statistics or use advanced Excel formulas using our Statistics tools which automatically calculates important items link days on market, average and median prices, sold price to list price ratios and more for any status. Simply conduct a search, select the listings you want included in your calculations and go to the Statistics tab. Here you’ll get everything broken down by Solds…
  • Timeframe analysis broken down by time periods specified by the 1004 MC report…
  • Calculations for non-sold listings such as Active, Pending, Under Contract, Expired and Withdrawn…
  • And, 1004 MC calculations which includes absorption rates.
  • ED: Comparable Market Analysis can be used by brokers in either the initial listing presentation or in follow-up meetings. You can use the CMA feature in your MLS the way you want to Pick and choose only the information or the report pages you want to include in your presentations Use your knowledge and counsel potential seller on the adjustments that make the most sense Make recommendations to sellers to get their home ready for sale I don’t have go through multiple steps to create the report I want
  • Using the CMA functions that are included with our MLS, you can use you search results for comparables or add comparables using the MLS# and Add comparable function. Copy any of the listings to the Subject property or enter the data. Use the adjustments tab to adjust as much or as little as you need. You can also pick and choose only those report pages you want to present to your potential seller.
  • ED: Did you know you can get a list of Prospects from PrimeAccess? Let you potential seller know that there are already buyers looking for a home like theirs. Prove your suggested price is in the ballpark If you’re looking, as an Agent, for tools to use, this is one of those features that is underutilized.
  • There are a few ways you can use the Find Prospect feature: Show your potential seller how many potential buyers you can contact when you get the listing contract by conducting a search for similar properties. Use the Find Prospect feature located on the top of the Listing Detail page for the listing closest to your potential listing, click Find Prospect. You can also validate your suggested price by picking the lowest and highest priced listing and showing the difference between a right-priced home and a home that is over priced.
  • Here’s what you’ll get from Find Prospect – a list of brokers who have scheduled Prospects that match the listing you choose. You choose how to contact these brokers – by either phone or email. This list also provides you with the Prospect Code. Using this you can identify whether this Prospect was set up for a farm area, such as the MLS area for a name (DHL) or if there are possible buyers who may be interested in this home. You’ll also be able to see the price range for the Prospect. Stand out from your competition, use this as your call list once you’ve gotten the listing contract!
  • According to the 2008 NAR Profile of Home Buyers and Sellers: 87 percent reported that they used the Internet as one of several information sources at some time in the process Second most frequently cited information source was a real estate agent, used by 85 percent of buyers Are your listings showing up online?
  • Metrolist has the largest broker network in Colorado with more than 16,000 members Listing distribution to more than 4,000 broker websites via IDX Realtor benefit – listings sent to Realtor.com, the largest real estate portal today Listings included on REcolorado.com, Colorado’s leading real estate website with more than 4 million pageviews per month Exclusive Metrolist benefit – Denverpost.com listing display with an average 250,000 unique visitors per day ListHub syndication services, a broker tool, provides listing distribution to more than 35 channels
  • Important areas to pay attention to: Don’t use “See Mapquest” for directions If short sale or possible short sale, check the correct boxes under Terms Use the description fields to the fullest extent Include information in Public Remarks this is not repetitious of Descriptions If your listing is NOT a short sale, don’t include this in Remarks. Brokers may want to exclude the words “short sale” from Broker Remarks in their searches, which would also exclude your listing
  • You know the saying, “A picture is worth a thousand words”. Make sure your listing speaks VOLUMES to brokers and potential buyers. 12% of all listings in our MLS do not have even one photo. What do you and buyers do when they view a listing without photos? They walk on by…
  • Be sure you take multiple photos and pick the best photo rather than settle for the one the doesn’t show the home in its best light.
  • Be sure to pick a bright sunny day to take exterior photos. You can upload an initial picture, then replace it with a better version if you need to.
  • Regardless of the contract software or program you’re using, you can upload your documents make them viewable in PrimeAccess. Make sure you have comprehensive information available for your listing so that buyers can make educated choices. Your listing may stand out over others.
  • Make sure your listing is enabled in Showing Assist.
  • So that brokers can easily click on the Showing Assist icon from search results or listing details to schedule their showing and send you feedback.
  • Open an Instanet transaction and give your seller access to this transaction using the Customer Service Portal.
  • Set up a Prospect to automatically send your seller new listings in their neighborhood that are competing for the home sale.
  • Using the Save search capabilities in Power Search, you can access this search over and over from Saved Searches.
  • Again, use the Prospect feature to get automated emails from PrimeAccess daily, weekly or monthly for your farm areas, specific neighborhoods, or any other areas you’re specifically interested in.
  • Using the email capabilities, you can select the reports you want and they will be sent to you in PDF format. You can also get a listing summary that includes links to photos, listing details and virtual tour when available by checking the box located underneath the message area.
  • Market Intel provides formatted reports for the entire MLS or broken down by MLS Area and County.
  • Provide a broad overview of what’s going on with all listings, then present detailed statistics using the Stats feature we discussed previously. Here’s an example of the Statistics report available in PDF or HTML formats.
  • 87% of buyers search online; 80% purchased a home they initially found online Make sure you include searchable IDX listings on your website so homebuyers can easily search online. Include your competitive advantages on your website so potential buyers choose you over the next guy. -------------- Display searchable IDX listings on your website Every Metrolist member has two Professional IDX service plans included with the monthly maintenance fee Work with a reputable website provider – we have over 100 partners that already work with Metrolist to provide IDX websites Market yourself and your competitive advantages Whether you sell your services using the market knowledge or technology tools, make sure you communicate your proficiencies so that buyers are comfortable before they even meet you face-to-face
  • Use your MLS search capabilities to the fullest extent Map searches Comprehensive searching capabilities “ NOT” short sale, style, etc. Colorado Fact Finder - demographics
  • Brokers are always struggling to find relevant information to keep in front of their past clients. Use archived transaction for the next tax year filing Example, HUD-1 filing or Property Transfer Declaration from closing / archived files Copy of the listing brochure
  • Unlimited Possibilities-Realtor Rally 2010

    1. 1. Unlimited Possibilities Presented by Ed Hardey and Melissa Olson
    2. 2. Working with Sellers Leverage Your Advantages
    3. 3. Statistical Tools and Reports <ul><li>Build instant credibility </li></ul><ul><li>Exhibit market knowledge and understanding </li></ul><ul><li>Be prepared for the hard discussion – the Price </li></ul>
    4. 8. Create a Customized CMA <ul><li>No additional cost for third party software </li></ul><ul><li>User flexibility </li></ul><ul><li>Demonstrate your knowledge and expertise </li></ul>
    5. 10. Find Prospective Buyers <ul><li>Be ready for the listing </li></ul><ul><li>Validate your suggested price </li></ul><ul><li>Proactively outreach to brokers who have potential buyers </li></ul>
    6. 13. Marketing Capabilities <ul><li>Explain the benefits of working with a Realtor® </li></ul><ul><li>Describe where online buyers will find home listings </li></ul><ul><li>Competitive advantages only you can offer </li></ul><ul><li>Develop and cultivate farm areas </li></ul>
    7. 14.                                                                                                                                                   
    8. 15. Largest network in Colorado with over 16,000 real estate professionals Listings displayed on more then 4,000 broker websites More than 4 million pageviews per month Only Realtor listings sent to national real estate website Exclusive Metrolist member benefit with avg 250,000 unique visitors per day Listing distribution to over 35 national real estate portal
    9. 16. Working with Sellers Maximize Your Expertise
    10. 17. Your MLS Listing <ul><li>Provide comprehensive listing details </li></ul><ul><li>Upload photos and virtual tours viewable by Realtors and potential buyers </li></ul><ul><li>Upload disclosures and other documents </li></ul>
    11. 19. <ul><li>“With photography a new language has been created. Now for the first time it is possible to express reality by reality. We can look at an impression as long as we wish, we can delve into it and, so to speak, renew past experiences at will.” </li></ul><ul><li>Ernst Haas </li></ul>
    12. 20. Photos matter… Courtesy of Sam DeBord, licensed real estate broker with SeattleHome.com, a division of Washington State Realty, LLC.
    13. 21. Photos matter… Courtesy of Sam DeBord, licensed real estate broker with SeattleHome.com, a division of Washington State Realty, LLC.
    14. 23. Facilitate the Transaction <ul><li>Use online showing management tools </li></ul><ul><li>Create an online transaction with Seller access </li></ul><ul><li>Deliver neighborhood market activity to your seller </li></ul>
    15. 28. Be Productive
    16. 29. Work Smarter, Not Harder <ul><li>Do you have certain search criteria you use over and over? </li></ul><ul><ul><li>Create a saved search </li></ul></ul><ul><ul><li>Recall the saved search and simply run the search day after day </li></ul></ul>
    17. 31. Work Smarter, Not Harder <ul><li>Do you want to know the newest listings on the market every morning before you even get out of bed? </li></ul><ul><ul><li>Use your MLS’s Prospect feature </li></ul></ul><ul><ul><li>Send new listings to your clients using the Prospect feature as specified by you, the Realtor </li></ul></ul>
    18. 33. Work Smarter, Not Harder <ul><li>Do you want listing information offline, available with or without internet connectivity? </li></ul><ul><ul><li>Save PDF reports on your desktop so they are at your disposal, regardless of web access </li></ul></ul><ul><ul><li>No more links that may or may not work </li></ul></ul>
    19. 35. Work Smarter, Not Harder <ul><li>Do you want market information at your fingertips? </li></ul><ul><ul><li>Use Market Intel reports for a broad overview and summary for all MLS listings </li></ul></ul><ul><ul><li>Create printable stats reports based on your search results </li></ul></ul>
    20. 38. On the Buy-Side of Life Working with Buyers
    21. 39. Attract Buyers <ul><li>Display searchable IDX listings on your website </li></ul><ul><li>Market yourself and your competitive advantages </li></ul>
    22. 40. Now you have the buyer… <ul><li>Customizable searching </li></ul><ul><li>Send your buyers daily alerts with new listings </li></ul><ul><li>Provide demographic information </li></ul><ul><li>Schedule showings online </li></ul><ul><li>Mobile MLS access </li></ul>
    23. 45. Streamline your Transaction <ul><li>Set up an online transaction </li></ul><ul><li>Make the offer using online contracts </li></ul><ul><li>Archive the transaction </li></ul>
    24. 46. Questions?