Last month I wrote a post about real estate closing gifts. One of my real estate virtual assistant clients, Clayton Gits, had asked for suggestions so I went to my LinkedIn network for ideas. Below are responses that have come in since the original post.

All of my clients have become more than clients. Some a little more than others. I do like to tune into what they are like and about and find an appropriate gift. I don’t take my CPA, attorney, insurance agent, dentist, Dr. or my stockbroker to dinner. But they don’t know me like I know my clients. I do stay in touch. Les Hackmeister

If the buyers are from out of town I’ll buy them a subscription to the local newspaper or regional magazine. It helps them to get acquainted with their new surroundings and they’re reminded of me every time they read it and see our ads. Nancy McBride

I’m with Rick, I do not normally do a closing gift. I typically work with sellers and on the occasion I felt it appropriate I bought my customer champagne to celebrate (I knew they would appreciate). I heard of a great closing gift and I will use one day; a pre-inked stamp with new address on it. I thought that was very clever and did not cost a lot.  Kari A. Battaglia

I work with buyers, usually relocating from afar. My closing gift is often a beautiful large basket filled with necessary stuff like toilet paper, tissues, cloth tea towels, liquid soap, a sponge, and a few snacks, like cheese and crackers, nuts, sparkling soda and chocolates. These are practical and greatly appreciated on move-in day or at their house when they arrive. The basket and (southwest motif) tea towels hang around. As special thank you’s, with much longer “shelf life,” I have given beautiful pieces of Nambé for their new home, made in New Mexico. How cheap it is to receive a $30,000 commission and not give a real gift?! Bad form, I’d say.

I disagree with Rick and others who think this cheapens our professionalism. I am all for doctors, lawyers and others giving thoughtful thank-yous, especially for referrals, which are the life blood of all business. I am amazed that many times I’ve referred a patient or client and never received so much as a thank you note. That’s not good business. Aysha Griffin

I always give a gift and it differs from each one. Now, my sister-in-law use to make dinner for each of her buyers. Now, I think she takes them out to dinner. Rebecca Gaujot

For a few sellers, I have taken the photos of the listing and made a keepsake book. I used www.mypublisher.com, but there are several others. This works especially well for sellers that have worked hard to re-hab a house and are now moving up by choice. Brian Hall

I do not give closing gifts to buyers but do give a drawing or oil of their house if I represent the seller . Michelle Drum

My favorite buyer gift is a welcome mat and flowers. Whenever possible I arrive at the walk-thru before them and set the mat and large flowering plant (Costco or Sam’s) on the front doorstep. I have personalized note cards with my logo on the front and on the inside I simply write “Welcome Home!”  Dawna Watson

Home staging has been a buzz word in real estate for a number of years now but still is not used by many real estate agents. Does it really work? Would it be a good idea for real estate agents want to spend their own money to stage a home? This is what Realtor Joe Molnar of South Bend Indiana did.

Joe listed a home that had been on the market over a year with two different agents. The original list price was high at $237,900 and was then reduced to $220,000. The house was in good condition but was vacant.

Take a look at how the house showed when it was listed with the first two agents:

Home Before Staging

Joe listed the house for $215,000. He spent $500 for staging and furniture rental for 3 months. When you look at the photos of the house after staging you don’t even realize it is the same house.

Home After Staging

See what I mean? When you compare the before and after photos the difference is remarkable.  Staging and good photos make a BIG difference. Joe thinks his $500 investment will earn him a $6,000 commission this spring.

Would you spend $500 for a $6,000 return?

Another good example of Home Staging is HGTV’s ‘Get It Sold‘ with Sabrina Soto. Sabrina takes a home that has been on the market for awhile and stages it for an Open House. Once again the before and after is amazing!

Real estate success tips from Steve Harney, Keeping Matters Current.com. Good stuff you will want to read!!

1. Stop waiting for the cavalry to arrive. WE ARE THE CAVALRY!

The Fed has stopped purchasing mortgage-backed-securities (MBS) and the Home Buyers’ Tax Credit has expired. What should we do now? The answer is simple. We need to get back to work. Originally the end to the Fed’s purchasing of MBSs was to occur on December 31, 2009 and the Tax Credit was set to expire November 30, 2009. We petitioned the federal government and explained that they couldn’t abandon the housing market in the middle of the winter. We let them know that if they got us to the spring (our normal peak selling season) we would take it from there. They lived up to their end of the bargain. Our time to perform has arrived.

We need to show leadership right now whether we are an owner, a manager or an agent. The best comment I have ever heard on leadership was from Colin Powell:

“A leader must be the person people come to in times of crisis. When they get there, they must never see you hungry, cold, afraid or tired.”

Let’s be strong right now. How do we do this?

2. Start CREATING transactions

During the boom years of 2004-2007, we really were not in the business of creating deals. We were actually in the business of facilitating the transactions. There were even some who said we should actually take on the title “Facilitator”. That was then and this is now.

A recent Gallup poll reported that “Lower but stabilizing home prices combined with continued low mortgage interest rates have persuaded 72% of Americans that now is a ‘good time’ to buy a house.”

What might prevent these people from accomplishing their goals? FEAR!

But let us realize that fear always comes from ignorance. Fear is only the symptom. Ignorance is the disease. We have been trying to make people feel better by trying to hide the reality of the market (treating the symptom) instead of educating them to the market (treating the disease).

Once we can simply and effectively communicate the reality of the market, we can easily point out the opportunities that exist and help these people accomplish their goals. Let’s search out the people mentioned above and help them understand that the move they are considering is not only possible but in the future will be profitable.

And make sure that when these buyers do purchase that they purchase your sellers’ homes. How?

3. List the property at a COMPELLING PRICE

The sale of a home can be a very emotional time for a seller. They often have fond memories of people and events that graced their home over the years. However, when we are setting the price we must realize that emotion should play no part. The value of any item in any industry is determined by two variables: the DEMAND for the item and the SUPPLY of that item.

With the government programs aimed at bolstering prices expiring, we can be very confident that DEMAND will remain stable throughout the year at best. If anything, potentially higher mortgage interest rates could soften demand.

The SUPPLY side of the equation is much clearer. A recent Zillow.com survey shows “8% of homeowners, or about 10 million Americans, are ‘very likely’ to sell if and as local conditions improve.” Obviously, not all 10 million will come to market. But even if only one quarter does that would be 2.5 million additional homes. And recent foreclosure statistics show that between 5 and 7 million homes are eligible for foreclosure. Prices will be impacted severely when this discounted inventory begins to come to market as the year unwinds.

Help your sellers to price their houses properly now to avoid further reductions that will occur later in the year. What should YOU do to prepare for this wave of foreclosures?

4. Become comfortable with DISTRESSED PROPERTIES

More and more families are finding it very difficult if not impossible to keep up with their monthly mortgage payments. It is our duty to help these people in every way we can. We must become better informed as to the programs available to these families in order to assist them as a true real estate professional should. Get certified by taking the short sale/distressed property classes offered by your local and state associations. Then commit a portion of your weekly work schedule to assisting this rapidly growing segment.

The more neighbors we help avoid the nightmare of foreclosure (either through a modification or a short sale) the better off they and our neighborhoods will be. Vacant foreclosures are what drive down values in a community. Modifications and short sales avoid this situation.

Help our neighbors in order to save our neighborhoods.  It is a rather simple concept but it won’t be easy unless you…

5. Develop the HEART OF A TEACHER

Dave Ramsey the writer, radio personality and financial guru said: “When getting help with money, whether it is insurance, real estate or investments you should always look for someone with the heart of a teacher, not the heart of a salesman. If you find someone with the heart of a salesman, run away.”

We must stop trying to sell people and instead educate them to the best options for themselves and their families. Take the time to truly understand WHAT is happening in the current market. Then, go even deeper and discover WHY it is happening. Then, and only then, will you be able to simply and effectively explain it to your customers and clients. Until they truly understand their options, they will be afraid to move forward.

Recently I wrote a post, Adding Your Real Estate Listings To Facebook, which received a lot of attention.  I thought you might want to take a look at the new Vflyer application for Facebook to market your listings.  Of course, you have to have a Vflyer account. If you carry one or two listings, Vflyer is free. For larger inventories, monthly fees can run anywhere from $12.95 to $79.95.

Vflyer has it all over some of the other Facebook listing applications for many reasons:

• Your contact info is prominently displayed at the top of the page
• The listing information displayed is the Internet flyer you created with links to your information
• The application can be installed on both your profile and your fan pages

Here is the Vflyer’s real estate listing application on Leigh Brown’s page, Charlotte North Carolina Real Estate.

Here are instructions for adding the Vflyer application to Facebook.

I also like the Internet flyers you can create with Vflyer. It offers many unique features:

• It contains a slide show and a link to your real estate website on the first page of a multi-page flyer.
• You can include an unlimited amount of links to your other online real estate marketing tools.
• It includes a nice map.
• And offers marketing for your other listings.

Interested in Vflyer, but don’t have the time to fool with it? As your real estate virtual assistant, I’m glad to help. Simply give me a call, 757.271.6047 or send me an email to get started.

My friend and Realtor Margaret Rome, ePro of Baltimore MD is featured in the ‘Masters Series’ of the latest Realtor Magazine. In this video, Margaret her secrets for creating a successful open house:

Congratulations Margaret on your successful career and creative marketing!

One of my real estate virtual assistant clients, Clayton Gits, asked me for client closing gift suggestions. I posed the question, “What has been your most successful closing gift in terms of client appreciation and shelf life?” to a LinkedIn Group and here are the results:

“A brass plaque of the homes street address. The clients loved it, and point out to each of their friends that their “Realtor” bought it for them…They see it each time they enter their home and are reminded of me.”  Alan May

“Anything practical – gift card to Home Depot or Lowe’s or Costco. Substantial amount. Always depended on their needs.”   Laurie Barrera

“It depends on the client’s needs/wants. Recently I had a client mention the name of her favorite restaurant so I’ll likely get a gift card for there and something for the home. I’ve given Scentsey product as well. Here is a link in case you aren’t familiar with the product. https://ussuccess.scentsy.us/home ” Les Hackmeister

“I wrote a post called “My Housekeeper is Adorable! ” I described the Roomba which I have renamed RomeBa. This is a great closing gift!”  Margaret Rome

“I quit doing closing gifts. The best “gift” is to stay in touch with your clients. If you have to give something, one of the best I was was a self inking stamp with the buyer’s new address on it. They can use it forever. I never put my return address on my bills, but I always make sure the sender’s address is showing, but if I had a stamp, I would use it. Of course the stamp should have your name and contact information on it.”  Jerry Becker

Thank you all for your suggestions! what do you give for a real estate closing gift?

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Social Media. Real Estate. What’s the BIG deal?

Are you one of many who think social media is a Fad and you and your real estate business don’t need to be there? I was! This video by Erik Qualman at Socialnomics.net will change your mind!

As a real estate virtual assistant, I have been blogging for years and have understood the seo value of blogs. I also have personal profiles on the prominent social media sites, as well as created profiles for clients. But I have to admit, I did really GET social media.

This video and a webinar course with Social Media Magic his opening my eyes. You will hear more about what I am learning and how to make money with social media.

When I heard Gary Keller, author of the best-selling “Shift: How Top Real Estate Agents Tackle Tough Times“  and owner of Keller Williams Realty, was going to be on “Good Morning America” last week, I was anxious to hear what he had to what he had to say about  how people can sell in a buyer’s market.

I was not only surprised but shocked to hear Gary Keller recommend sellers be present during showings of their homes. During my 17 years as a licensed Realtor®, common wisdom was for sellers NOT to be home and it leave the showings up to the professionals.

An example of why a seller shouldn’t be present is when I was showing a young Navy family with 2 young daughters houses. We went in one house with the sellers there. I started a conversation with the wife and asked why they were moving. She said, “We just had our second child and this house is too small for us.”  Needless to say, my family with 2 daughters didn’t buy that house.

What do you think? Has conventional wisdom changed? Has real estate changed this much in the few short years since I opened my real estate virtual assistant business?