Setting the Tone at Your First Buyer Meeting

Your first meeting with a potential buyer is one of the most important interactions you’ll have with this client. It sets the stage for the entire home buying process and establishes you as the agent of choice, not only for the current transaction but for future purchases and sales. Understanding the Process Make the most of both your and the client’s time by coming prepared with a plan for the meeting. Start by gauging their knowledge of the home buying process and then filling in anything they may not know. Talk them through your plans for viewing homes, the steps you’ll take once they find a home they want to buy, and what happens between the time of coming under contract to meeting at the closing table. This will help them feel in control of their own experience every step of the way. Explaining the Market From there, you’ll want to explain the current market conditions and how they may impact your client’s experience. In our current market, your client will likely be competing against other offers and may—more than once—have their offer rejected. Talk through your plans to mitigate these chances and what you and your buyer can do [...]

By |2017-08-30T21:42:21-05:00August 30th, 2017|Agent Blog, Blog, Consumer Blog|Comments Off on Setting the Tone at Your First Buyer Meeting

Now Hiring: Brand Ambassador / Marketer – Real Estate Brokerage

Benchmark Realty LLC - Nashville, TN $30,000 - $60,000 a year Benchmark Realty LLC is searching for a person to actively represent our brand to targeted prospects in order to increase awareness, create a specific image, generate interest and then articulate our offering to prospective agents. This position is focused on both the support of recruitment and our retention efforts, as well as building the brand across varying audiences. Benchmark is an extremely dynamic and innovative company, focused primarily on residential real estate brokerage throughout Middle Tennessee. Since our start-up 11 years ago, we have become a market leader while growing in a very structured manner. Benchmark is a 5 time recipient of the Nashville Business Journal's "Best Places to Work" Award, has been recognized for 3 years now on the Inc5000 list of fastest growing companies in the entire US, and most recently was designated the status of NBJ “Fast50” member of the 50 fastest growing privately held companies in Greater Nashville. Key requirements of the ideal candidate: • Promote our brand to potential candidates via multiple channels as well as creatively contributes to the retention process. • Assist with planning, coordination and oversight of special events. (For example: [...]

By |2017-08-31T13:56:44-05:00August 30th, 2017|Uncategorized|Comments Off on Now Hiring: Brand Ambassador / Marketer – Real Estate Brokerage

How to Nurture Your Real Estate Client Database for Future Profitability

As real estate agents, we’re always on the lookout for new customers, but building relationships based on trust—which our industry so often requires—takes time. While searching for new leads is important for growing your business, you shouldn’t waste the time you’ve already invested developing relationships with your past clients. According to a recent report from the National Association of REALTORS, 70% of sellers say they would use the same agent again, but only 25% actually used the agent they previously worked with to buy or sell a home. To stay top of mind with your past clients when it comes time for another real estate transaction, you have to make direct efforts to maintain that relationship. If you can spend just one day per week working on your customer database, nurturing those relationships becomes a lot more manageable. Take a systematic approach to keeping in touch by starting with your current year’s clients and working backward to organize, review, and update client information so you can begin to have more regular contact. Here are a few ideas to get you started: Start a Monthly Newsletter Staying in touch doesn’t have to be a manual, labor-intensive process. With an email marketing [...]

By |2017-07-18T18:17:06-05:00July 18th, 2017|Agent Blog, Blog, Consumer Blog, Lead Generation, Marketing|Comments Off on How to Nurture Your Real Estate Client Database for Future Profitability

Nashville Outpaces Memphis, Becoming Tennessee’s Largest City

Nashville isn’t just the nation’s new “it” city. Tennessee’s capital is also now the state’s largest city as more and more people have begun to call it home. The latest census figures were released at the end of May, showing Nashville’s recent boom allowed it to outgrow Memphis, replacing it as the country’s 24th largest city. So what are the numbers? The 2016 population for Music City came in at 660,338 versus Memphis’s 652,717—a difference of 7,671 residents. Total population is expected to increase by 40 percent through 2046, according to a recent report by the Wall Street Journal. Nashville isn’t the only Middle Tennessee town seeing an influx of new people. For the second year in a row, Murfreesboro has been ranked one of the nation’s 15 fastest-growing large cities, with a 4.7 percent population increase last year. Don’t expect things to slow down for Music City anytime soon. Tennessee’s business filings increased during the first quarter of 2017, with Davidson County seeing the largest number of new business filings at 2,395. The state’s employment growth also outpaced the rest of the country at 2.2 percent in March, and in the aftermath of the Great Recession, Nashville has shown [...]

By |2017-06-14T20:17:20-05:00June 14th, 2017|Agent Blog, Blog, Consumer Blog, Listings, Mortgage Rates, Networking, Real Estate, Real Estate News, The Economy|Comments Off on Nashville Outpaces Memphis, Becoming Tennessee’s Largest City

The Hidden Dangers of an Escalation Clause

In real estate contracts, an escalation clause—sometimes called an escalator clause—allows a buyer to increase how much they’re willing to pay if a seller receives a better offer. On the surface, this can seem like a good option when you have a client who is determined to have their offer chosen in a seller’s market. Though legal, escalation clauses can result in some serious issues that may end up in a disciplinary case or worse, a lawsuit. Your Offer May Not Be a Binding Contract For offers that include an escalation clause, the sales price in the offer itself tends to be vague, and according to attorneys representing the Tennessee Association of REALTORS®, some courts may consider it a deficient contract. Even with a price cap, it would be up to the court to decide if the contract constitutes a firm and statuary offer. Your Final Price Could Be Higher Than Your Appraisal In Nashville’s booming real estate market, prices are known to increase significantly when multiple offers are on the table, oftentimes going beyond the appraisal limit. As a buyer’s agent, you’re responsible for making sure your client knows they will have to make up the difference (with cash), [...]

By |2017-06-07T20:35:52-05:00June 7th, 2017|Agent Blog, Agent Education, Blog, Consumer Blog, Real Estate Ethics|Comments Off on The Hidden Dangers of an Escalation Clause

Tips for Productive Agents: Training Resources & The Benefits of Time Blocking

Every real estate agent knows proper training and continuing education is key to staying at the top of your game and being the best possible resource for your clients. From understanding the legalities of Tennessee property sales to keeping abreast of the latest technologies and productivity techniques, finding the right resources can be overwhelming. At Benchmark Realty, we offer our agents access to a monthly training program with classes ranging from the basics of the Tennessee Association of REALTORS (TAR) electronic forms to programs designed to help our agents become more productive. One of the productivity skills we focus on is time blocking, a time management technique that helps our agents maximize every hour of their day to help them set and achieve their business goals. Step 1: Identify Your Goals Start each day with identifying your number one priority—that single task that can make everything else on your to-do list easier. Maybe it’s pulling together possible new homes for a client or sending out an email to your database to keep yourself top-of-mind. Whatever it is, commit to getting it done without interruptions. Step 2: Structure Your Schedule Around Your Goals Working without distraction can be easier said than [...]

By |2017-04-12T16:38:13-05:00April 12th, 2017|Agent Blog, Agent Productivity, Benchmark Agent Tools, Real Estate|Comments Off on Tips for Productive Agents: Training Resources & The Benefits of Time Blocking