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5 Real Estate Shortfalls and How to Avoid Them

October 13 2015

5 real estate shortfallsAny real estate agent will tell you that time is money. And mistakes can be costly. By avoiding shortfalls, such as an unimpressive pricing presentation or inadequate marketing strategy, agents can significantly increase their chances of kicking that ball across the goal line.

Here's how to easily avoid those shortfalls with simple tips and tools from Realtors Property Resource® (RPR®).

1. Not ... having your pricing game down.

Shortfall: Coming in with a list price above value, while it may be attractive to the client, may lead to a stale listing in the end. Coming in below fair market value, on the other hand, might not be enticing enough to land the listing.

Solution: Hit the bull's eye on perfect pricing with RPR's comp analysis toolcomp analysis tool. This step-by-step wizard walks users through the process of validating basic facts about a subject property, selecting comps and adjusting those comps to yield a customized and flexible pricing strategy.

2. Not ... marketing your listing properly.

Shortfall: Online ads, photos, postcards ... oh my! Today's buyer starts online, and depending on the agent's marketing effort, will then visit an open house or reach out to the agent.

Solution: Get a jumpstart on your marketing with RPR's One-page Property Flyer. This simple, comprehensive one-page flyer is perfect for direct mailers and posting around your geographic farming area. Also, don't forget to incorporate market data from RPR into your postcards and other marketing pieces. When you're ready for your open house, the Mini Property ReportMini Property Report and Neighborhood ReportNeighborhood Report make the perfect prospect takeaways.

3. Not ... acting on that FSBO down the street.

Shortfall: You're on a showing with a buyer who spots a FSBOFSBO in a highly desirable neighborhood. Naturally, they want to know more, yet without listing information, you have little to offer.

Solution: RPR Mobile™RPR Mobile™ leverages the power of your smartphone or tablet with the strength of RPR. By downloading the free app, you can instantly view nearby properties; and get listings, owner info, sales, valuations, tax, mortgage, school stats and market trends. So, while "at the curb," simply activate your RPR app. Your GPSGPS will instantly pinpoint where you are and all you have to do is select and view the FSBO property to get the information that your client is looking for.

4. Not ... making minor repair recommendations to your client.

Shortfall: First impressions count. If a property has a loose banister or debris in the front yard, potential buyers will notice, likely making it more difficult to find a buyer.

Solution: At the time of your listing appointment, make sure to offer recommendations for small repairs or home upgrade jobshome upgrade jobs that the homeowners can do with your consultation. Staging the home is a critical part of the job, and could result in a higher valuation for your clients.

5. Not ... preparing your clients.

Shortfall: Your clients just had their kitchen remodeled, including having custom appliances installed that they plan to take when they move. By keeping the kitchen as is, potential buyers may end up loving all of the enhancements as much as your sellers, becoming a point of contention for a seemingly easy transaction.

Solution: Have your seller replace new appliances with generic ones that can be sold with the home. This way, buyers won't become attached and use these fixtures as leverage during the home selling process.

To view the original article, visit the RPR blogRPR blog.