A 4-step Process That Must Be Followed For Success

There are Four Steps in a real estate transaction that must occur before a deal is closed or even if a client has the capacity for the transaction to close in the first place. For the most part, there are no exceptions. All sales professionals at some point, when representing their client as a buyer’s agent completes all four steps… there is no cheating… the larger the transaction, obviously the more pronounced the steps are. While completing the steps, it is always important to remember that these are completed in a professional manner with the understanding that if a client has a wonderful total experience with the professional they will remain a client and they will send them more clients – the client is treated with courtesy and respect throughout the process.

The four steps in the process are:

• ·       Qualification
• ·       Rapport
• ·       Education/Information
• ·       Close

I am going to break this down into 3 separate blog postings, I will cover Qualification in this posting, Rapport in the next and Education/Close and close in the final.

It is important to note that if we ignore any of the steps and/or try to skip on and/or do them out of order we will likely get a backlash or jeopardize the transaction. We might come across as pushy and manipulative - because we are force-feeding the process.

Qualifying buyers is one of the most overlooked and ignored step in the real estate profession today. This is a fundamental flaw Realtors make (especially people new to the industry), assuming the buyer is already qualified for a mortgage when they are not or possibly showing them properties when they haven’t even listed their home for sale are just a few examples. Failing to qualify buyers will virtually guarantee a horrible experience for the seller or a buyer and the professional will come across as likely looking unprepared and unprofessional to the other real estate professional on the other side of the fence.

A Realtor will waste time, money and energy trying to sell a home to an unqualified prospect. They waste time because they (the family) aren’t going to buy (they want to buy but they can’t because they don’t qualify for financing).  The Realtor wastes money because their marketing budget is drained aiming at the wrong target. They are also wasting money because their time could have been better used to actually bring a qualified buyer on board – showing them properties that they really qualify for (opportunity cost). If a client does not have a full loan prequalification from a notable lender (which a professional needs to verify) they should stop the process and get them approved internally (if their organization provides this service), or farm it out to a lender they work with. You are doing everyone a favor.

A qualified client must have the time, need and want.

In most markets across the United States everything is go, go, go… A client may very well have the money, be qualified for the loan – but not have the time to engage in the purchase or the transaction because they are too busy at work, with kids, whatever… They are too busy to engage the real estate professional at practical times. As professionals we are extremely busy and our time is scarce and we certainty aren’t Burger King (have it your way)! We do our best to accommodate our clients’ schedules – but we have families and other clients to work with as well.  If you called your attorney (or CPA or doctor) in the middle of the day and said you wanted to see him in an hour and he said “sure come on down” what would your thoughts be about that professional?  We would be concerned – very concerned. The same holds true for us as real estate professionals, if we are at our kid’s soccer game or attending another important function or calling on another client, we are not going to just ‘pick-up’ what we are doing, to meet the demands of a particular client because they aren’t willing to allocate the necessary time to make the transaction work. We are busy professionals and our time is scarce.

The last part deals with having the power… The old saying in real estate is if someone wants to go look at a home in a snowstorm they are really motivated to make it happen. To go out in a snowstorm to look at a home says that you really have a pressing need (or they just really love the snow). This is a polar opposite of a house-hunter driving around on a beautiful Sunday afternoon and noticing an open house, walking in, killing some time, checking their neighbors decorating and then deciding they need to go home and add some plantation shutters and remodel the den.

I am hard pressed to think of any time that I worked a married couple that bought a home without both husband and wife seeing the home… If a professional attempts to have someone make any type of decision, big or small without their spouse – they are losing a lot of credibility. The concept of properly qualifying a prospect by making sure they have the money, time, need/want, and power to buy from a professional is far-reaching, but is really simply boils down to knowing “knowing our target market” forwards, backwards, upside and down.

Greg Steinaker – BanCorp Properties

We Can Better Serve Our Clients By Listening Better

A Realtor can’t (and won’t) secure their clients the results they are seeking if they don’t understand what their client is really interested in and looking for in first place. Traditionally this occurs when you have a Realtor who likes to listen to himself talk a lot, likes the way his voice sounds and thinks he can persuade anybody about anything – instead of being a listening real estate professional, with a genuine interest, who is truly catering to his clientele. For a Realtor to be truly excellent they have to do more listening than talking and ask more questions, as opposed to making more boasting statements. A good real estate agent listens to the initial question, follows it with a clarifying question and only then makes suggestions and recommendations to their client about how they can move forward concerning the real estate transaction that has presented itself.

 

What separates an average Realtor from an exceptional one? In my opinion, the best ones will ask questions and then shut-up and listen. The ordinary ones tend to ask a question and then jump in and start yakking some brilliant statement about how great they are and how magnificent their company is before the prospective client even has the opportunity to answer the initial question. If a client is ready to buy a home, how can the Realtor know what the person is really looking for if they are always popping-off and barking some “brilliant” statements about what awesome service they will give? An excellent Realtor is not unlike a waiter in a five-star restaurant when they are making suggestions on the wine list or taking the order. After carefully listening to the professional, the person at the table tells the waiter exactly what they want and the waiter goes and gets it for them – and then delivers. If the waiter does their job correctly, everybody is happy and the waiter gets paid.

The bottom line is this: God gave us two ears and one mouth for a reason. When a family is ready to buy or sell a home they are interested in their families needs – not the Realtors ego, and they can’t learn how the Realtor can meet their needs unless the Realtor knows what their real needs are – they don’t care what their Realtor knows until they know that their Realtor cares. If the real estate agent spends all their extremely valuable time in the initial or second interview spouting off about how great their company is and how much better they are than the other companies, talking ninety-percent of the time boasting about what they have done in the past, this might be potentially be a red-flag for a client to go ahead and speak with another real estate company – no one is that good are they?

It is a good practice for a real estate professional listen more than they talk

If a real estate agent feels obligated to jump into every pregnant pause in a conversation and add some not-so-brilliant insights into the normal course of dialogue they are short-circuiting the communication channels.

God gave us two ears and one mouth for a reason…

To ask a probing question when seeking a listing or the opportunity to represent as a buyers agents and then feel compelled to add some additional unsolicited information from the person before the question has the opportunity to even be answered is not only rude, it is completely unprofessional. When a person sees this exasperating character flaw in a real estate professional it typically triggers red flags all over the place. When a person is talking more than they talk they are not only learning what is really critical to their client, they are also communicating to others that they think that their ideas are much more important than other people’s – in other words they are being self-centered and egotistical. Who wants to do business with a narcissist Realtor?

When you are listening to your client you are able to focus in on what is relevant to your client and whatever is a focal point to you – pulls you. Whatever you focus on – gets your consideration. So, when you  focus your attention on your client (listen) and all of their needs, wants and concerns – instead of your own (talking instead of listening), you are able to lead them through the process (when you are leading you are always one step ahead of the process/transaction, not one step behind), going through any obstacle, circumstance, trouble or headache head-on, not trying to navigate around it by pushing your client but rather by pulling your client through it in a position of influence, determination and authority.

All of this can be accomplished by simply listening to what your client is really interested in rather than you trying to further your own goals.

Greg Steinaker - BanCorp Properties

No One Makes a Penny Until a Sale Is Made

“Nothing happens until someone sells something.” Henry Ford

With that being said, sales should never be manipulative and should never be pushy. Think about having a world-class waiter serving you in a five-star restaurant making recommendations on the wine menu. Selling is part of the natural human interaction. Teachers sell and persuade their students to learn. Parents sell their daughter on who to date. Spouses sell each other on where to go to eat dinner on the weekend… Understanding that everyone is in sales is essential to understanding the buying process.

According to Zig Ziglar it is pretty simple “selling is nothing more than the transference of a feeling… if you can make the customer feel that way you do about your product (service), then your customer will buy your product (service). When done right, real estate sale’s is an honorable and noble profession. It is right for your doctor to sell you on taking care of yourself, and for your pastor to sell you on the value of a rich spiritual life. It is unwise and unfair to lump an entire profession with a stereotype just because of few in the industry don’t practice their craft with care.

Selling is one of the highest-paid professions in the United States, and rightfully so, as it is all based off of the risk/return relationship. A real estate professional is taking a higher risk (no guaranteed pay-check) than a person working 8-5 for a company. The ‘carrot’ for the real estate professional is there is no glass-ceilings on earnings. It is a little know fact that is larger real estate companies one of the tracks that most often lead to “C-suite” and higher management positions in the organization is through the sales pipeline area of the company.

The bottom line is this. Everyone is in sales. If a real estate professional does their job correctly and their client has a wonderful ‘total experience’ they will likely remain a client in the future, and there is a high probability that they will refer other clients. It means treating each person in a consistent manner, all people are treated the same in each encounter regardless of circumstance, with courtesy and respect.

BanCorp Properties supports truth in real estate and supports all of the communities that we serve in. To learn more about BanCorpREG, please visit us at www.bancorprealty.com

Greg Steinaker

South County real estate community spotlight

 

In this blog posting we are highlighting the communities of Laguna Beach, Ladera Ranch, Mission Viejo and San Clemente. For people relocating or unfamiliar with the area: nationally or perhaps even internationally, South Orange County is a prosperous county located almost exactly half-way between the cities of Los Angeles and San Diego, with a good portion of it situated along the pacific Ocean. Home to professional sports teams, L.A. Angeles and Anaheim Ducks, the county is also home to Disneyland, Knotts Berry Farm, John Wayne Airport, world-class shopping, performing arts, miles of pristine beaches and much more…

Laguna Beach real estate: much of the community is found perched atop a picturesque ragged and elsewhere rolling hills offering the owners panoramic sweeping vistas ranging from Catalina up the coast to the tip of Palos Verdes, and all the Pacific Ocean coastline along the way. The Laguna Beach homes for sale run the gamut, from beach cottages to luxury condos to oceanfront mansions. The community has a rich culture built on the arts and the only way in or out of the community is the PCH highway 1 – there are no freeways into or out of the city – making it a very secluded location

Ladera Ranch real estate: Ladera Ranch is very attractive high-end master-planned community that is centered round the family. The newest addition to South Orange County the Ladera Ranch homes for sale embody the classical South Orange County lifestyle along with that great year-round local climate that makes it so desirous. Out of all of all the luxury South Orange County communities, The Covenant Hills real estate market of Ladera Ranch is considered one of the most prestigious and luxurious.

Mission Viejo real estate: Mission Viejo is centrally located in South Orange County with easy access to the major freeways and toll roads. Residents of Mission Viejo enjoy an idyllic year-round lifestyle as they are afforded the convenience of a close drive to the nearby ocean, fantastic shopping at nearby Shops at Mission Viejo, excellent dining found throughout the city and everything-under-the-sun outdoor recreational opportunities that Mission Viejo offers. The majority of the Mission Viejo homes for sale are spacious with most having highly functional floor plans. The Mission Viejo community has only helped solidify the South Orange County real estate market as one of the most-sought-after housing markets in all of the west coast.

San Clemente real estate: The city of San Clemente attracts tourist from all over the world, the San Clemente pier is regionally famous as well as all of the surfing breaks found along its coastline. Many of the San Clemente homes for sale have spectacular panoramic views of the Pacific Ocean while other are surrounded by wide swatches of lush hillside and expansive canyon. Some of the best known communities are Forster Ranch, Coast District, Marblehead, Talega and Rancho San Clemente. Many of the homes showcase the Spanish influence of the city, but you will also find contemporary and Mediterranean styles scattered along the city.

BanCorp Properties

BanCorp Properties increases presence in Laguna Hills real estate market

BanCorp Properties has been making enormous strides in its marketing efforts in the Laguna Hills market showing significant gains in page rankings in Google, Yahoo and Bing. Through a carefully scripted plan of exploiting the self-replicating social media sites; Facebook, Twitter, LinkedIn and Google+, BanCorp are able to zero-in on the local LagunaHills real estate professional while simultaneously targeting high probability local, regional, national and international buyers. BanCorp Properties quite simply is creating new marketing channels that the existing market has not considered, taking the traditional marketing models and then multiplying them exponentially.

In its ongoing pursuit of easier and faster™ real estate BanCorp believes this new marketing push will result in more listings of Laguna Hills homes for sale as well as the addition of new Laguna Hills Realtors being added to the company to complement the existing staff of South Orange County Realtors that are currently serving the 16 South Orange County communities BanCorp currently serves in. Greg Steinaker, CEO of BanCorp Properties was quoted “the Laguna Hills real estate market is an important one for us, it is the southern-most community in South County and the homes here tend to turn quicker due to median home values relative the coastal region.” Mr. Steinaker went on to add “Laguna Hills is one of the best communities in South Orange County to raise a family in, and is perfect for people who enjoy an active lifestyle but also want their privacy away from the hustle-and-bustle of main-stream Orange County.”

BanCorp Properties anticipates that 2015 will be much stronger revenue wise than it was in 2014 and much of this increase is attributed to increasing SEO efforts and website enhancement and development as well as personnel enhancement. The company would like to increase in Orange County real estate agent base by an additional 70+ Realtors in 2015 and believe this can be accomplished by additional recruiting efforts and major brand awareness realized through traditional marketing methods such as print media and radio advertising which will complement the internet marketing campaigns.

South Orange County Open House Weekend January 2 – 4, 2015

BanCorp Properties wishes everyone a Happy New Year! In our on-going pursuit of easier and faster™ South Orange County real estate we will continue to showcase our Orange County open house weekend throughout the year. We offer a comprehensive list of South Orange County luxury homes for sale all presented to you on our user-friendly leading-edge website: BanCorpRealty.com

During the course of the year we like to focus on properties which we consider to be good values in the local communities in relation to the time on market, square footage and lot size relative to similar homes on the market – or recently sold. This weekend we are highlighting the communities of Ladera Ranch, Laguna Niguel, Newport Coast and Dana Point.

 

3 Fecamp

Newport Coast, CA 92657                                                                       

$1,299,000

3 Bedrooms, 2 Bathrooms

1,750 square feet

Built – 1995

Lot Size – 4,000

Saturday January 2, 1-4 p.m.

This turn-key, fully furnished (unfurnished optional) detached home, with NEW thick plank 5 1/2" European hardwood floors, has been meticulously maintained and is located in the gated community of Sancerre, 24 hour security, in the very desirable/centrally located Newport Coast community. Minutes from the beach, Corona Del Mar, Pelican Hill Resort, and sought after schools such as: Newport Coast Elementary, Sage Hill High School, Harbor Day School and great shopping (Fashion Island). The home has a wrap around back yard, very bright living area with vaulted ceilings, large windows with plantation shutters, and surround sound stereo system with built in ceiling speakers. New upstairs carpet. The kitchen has beautiful new white cabinetry, granite countertops, granite island. Large spacious master bedroom suite with a walk-in closet, and upgraded bathroom with dual sinks. Two additional large bedrooms and one bath upstairs. New refrigerator, washer and dryer included. Two car garage. Family oriented community with a well maintained pool and spa. Great income investment opportunity with average rental income of $5,600. Very desirable rental property due to location and amenities. Great for families as well as the Sancerre community is family friendly. Search Full MLS Inventory For Newport Coast Real Estate With A Detailed List Of Newport Coast Homes For Sale at BanCorpRealty.com™ Where You Locate Local Newport Coast Realtors.

 

24661 Sutton Lane

Laguna Niguel, CA 92677

$525,000

3 Bedrooms, 2.5 Bathrooms

1,512 Square Feet

Built 1987

Lot Size 4,413

Sunday January 4, 1-4 p.m.

This is one of the best townhouse opportunities in all of Laguna Niguel! Located in a popular community, a fantastic floor plan, end-unit, large premium lot with a deck and a yard, brand new carpet, beautiful fresh paint throughout and over 1,500 square feet of living space for this terrific price. Additional features of this wonderful 3 bedroom, 3 bath home are the volume ceilings, streaming light throughout, inviting stone fireplace in the living room and abundant storage. The spacious kitchen, which opens to a family room, features white appliances, a center island and a large pantry. Great upstairs floor plan with bright and sunny bedrooms and spacious linen storage. The large gated lot features beautiful plantings, including a rose garden, and a wonderful deck to entertain your family and friends. Spacious two car garage. Community pool, spa and playground, low HOA dues and no Mello Roos. Nearby you'll find community tennis, basketball, bike trails, plenty of open space and shops and restaurants. This one is not to be missed! Search Full MLS Inventory For Laguna Niguel Real Estate With A Detailed List Of Laguna Niguel Homes For Sale at BanCorpRealty.com™ Where You Locate Local Laguna Niguel Realtors.

 

34004 Selva Road #378

Dana Point, CA 92629

$$749,900

3 Bedrooms, 2 Bathrooms

1,235 Square Feet

Built 1982

Sunday January 4, 12-4 p.m.

Rare opportunity to enjoy beautiful ocean views from this charming remodeled beach close cottage. Situated yards from the sands of Strands beach. Three bedrooms and two updated bathrooms. Some of the many upgrades included in the spacious kitchen are solid hickory cabinets, granite counter tops, stainless steel appliances and under cabinet lighting. Designer tile flooring, interior panel doors, dual pane windows and slider doors. Convenient interior washer and dryer. This is resort living at an affordable price. This truly turnkey unit is perfect for a second home or year round. Search Full MLS Inventory For Dana Point Real Estate With A Detailed List Of Dana Point Homes For Sale at BanCorpRealty.com™ Where You Locate Local Dana Point Realtors.

 

20 Bluewing Lane

Ladera Ranch, CA 92694

$724,000

5 Bedrooms, 2.5 Bathrooms

2,436 Square Feet

Built 2003

Lot Size 5,615

LARGE LADERA CORNER LOT - Charming 5 bedroom Ladera home located in the Weatherhaven tract. Enjoy the large great room with wood floors and spacious kitchen with granite countertops. Rare private corner lot offers ample room for entertaining. Conveniently located next to a pocket park. Walking distance to Ladera's award winning schools and many amenities, including 14 pools, water park, skate park & hiking trails. Search Full MLS Inventory For Ladera Ranch Real Estate With A Detailed List Of Ladera Ranch Homes For Sale at BanCorpRealty.com™ Where You Locate Local Ladera Ranch Realtors.