make your open house a success

8 Ways To Make Your Open House a Success

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As a Realtor in a competitive marketplace with inventory continually increasing, are you doing all you can to make your listings stand out? Planning an open house? Here are eight ways to make your open house a success in 2024! 

Focus on the main objectives. 

Remember the three main objectives of having an open house to make your open house a success. First, an open house generates leads. Second, it’s a time to promote your brand. And the third objective is to sell the listing. 

Hence, every step you take before, during and after the open house should help achieve those goals. 

Research the area.

Before the open house, get to know the ins and outs of your listing and those of similar listings in the area. 

Go beyond online research and do a walk-through of some of the properties, and note what features each offer that your listing may not and what your listing offers that they do not. Then, you will be ready to share your local knowledge with comparable details on your listing and others in the area if a potential buyer asks. 

Schedule appropriately. 

And when it comes to scheduling, know your market. Will an afternoon or after-work open house be best? Or are weekends more flexible? Don’t forget to check the community calendar to plan your event around other popular happenings in town. 

Use your network to partner with another local business. 

Partner with one or several local businesses for cross-promotions. Whether it’s a local restaurant or bakery providing small bites and sweets or an interior designer offering a raffle item or a free consultation, create excitement with your open house.  

Promote your open house.

Use various strategies to promote your open house. Consider writing a blog about the upcoming event and feature the home on your website. If you posted a property showcase on the home, re-share it on your homepage with a new graphic and blurb about the upcoming open house.

Share the open house details on social media, including any cool cross-promotions, giveaways and more. Create print materials to reach a wider audience. Send direct mailers to target markets. Hand out fliers, hit the streets with door hangers and post unique signage. 

Make it an event.

Showcase local talent and have live music in the living room or backyard. Display the works of local artists and host an “art exhibition.” Max out your cross-promotions with raffles and giveaways.

Have a sign-in sheet.

Start by kindly letting guests know upon entering that the homeowner requests each visitor sign in for security purposes. But instead of a pen and notebook, hand them an iPad and use an app like the Open Home Pro, for example. 

Be ready to answer buyer questions.

Demonstrate your expertise by being prepared to answer common buyer questions, ranging from house background to information about the neighborhood. A few common questions include how long the sellers have lived there, why they are moving, the age of the appliances, the average monthly utility bill and how old the roof is.

Summary

Finally, make your open house a success by having informative handouts and promotional items set out. Share statistics about the home, the neighborhood, local services, the school district and other helpful information. Have water bottles with your name and contact info printed on the labels. Bring other seasonal goodies, like sunglasses or hats, with your logo to promote your brand. Keep reading our blogs for more Realtor tips and news! 

a walk through the home buying process

A Walk Through the Home Buying Process

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Are you thinking about purchasing your first home? Or has it been a while since you’ve last sold or bought a home? Regardless of the answer, let’s take a walk through the home buying process to refresh your memory and remind you how to prepare for it.

Understand your finances.

In other words, check your financial health. Review your credit score, look at your expenses versus your income and calculate how much you can afford.

Create a budget.

When it comes to budgeting, remember to calculate the one-time and recurring costs. These include the down payment, closing costs, move-in expenses and property taxes, for example. Typically, a 20% down payment is the norm.

Get pre-approved for a mortgage.

Before you start looking at homes, it’s important to get pre-approved for a mortgage. This will give you a better understanding of how much you can afford to spend on a home and will show sellers that you are a serious buyer.

To get pre-approved, you’ll need to provide your financial information to a lender, who will then determine how much they are willing to lend you.

Find a Realtor.

A Realtor will be your guide through the home buying process, helping you find homes that meet your criteria, negotiating offers and navigating the closing process. Look for an agent who is experienced in the local market and has a track record of successful transactions.

Start house hunting.

Once you have your pre-approval and a Realtor, it’s time to start looking at homes. Make a list of your must-haves and nice-to-haves. Be open to exploring different neighborhoods and property types. Attend open houses, schedule private showings and don’t hesitate to ask your Realtor for their expert opinion.

Make an offer.

When you find a home that checks all the boxes, it’s time to make an offer. Your Realtor will help you draft a competitive offer that takes into account the current market conditions and the seller’s motivations.

Schedule a home inspection and appraisal.

As we continue our walk through the home buying process, it’s important to remember this critical step. A home inspection helps determine if the property has any structural, mechanical or other potential issues.

Depending on the report, potential buyers can request specific repairs from the seller or back out of the deal.

Prepare for the closing.

It’s official! As you get closer to closing day, your Realtor will help you become familiar with the standard closing documents beforehand. On or near closing day, plan on doing the final walk-through with your Realtor to ensure that everything’s as agreed upon.

Summary

With a walk through the home buying process fresh on your mind, do you have more questions for an experienced Realtor? Connect with your next local Realtor to have your questions answered and start your search for a home in Lee County. Keep reading our blogs for more real estate news and guidance.

ways to build client loyalty in real estate

6 Ways to Build Client Loyalty in Real Estate

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Client relationships are an essential part of the real estate business. Are you looking for ways to build trust with your clients? Check out these six ways to build client loyalty in real estate.

Make your work stand out.

Clients must make the choice to work with you. What makes you stand out? From your quirky personality and excellent service to your reliability, responsiveness and ability to connect, all of this can help you catch the eye of potential clients and keep them. 

Organize client events.

Want to create loyal clients for life? Spend time with them. This can be done through client events such as seminars or special get-togethers.

Seminars provide valuable information and are a great way for REALTORS® to share their knowledge with clients. Plus, you can invite speakers for different topics and help your buyers and sellers with interior design, landscaping and more. Client events such as barbecues, lunches and more are also a great way to show appreciation and connect on a personal level.

Follow up with your clients.

Just as in life, you should nurture your client connections. Did you see their post about their new landscaping? Have they received attention for a good deed? Reach out and acknowledge it! Compliments go a long way.

Send thank you cards. 

Personal and heartfelt. Take time after closing to handwrite a thank you card to your clients, showing appreciation for choosing you. Be sure to congratulate them on their new home, and if you want to go the extra mile, you can even send a small gift, such as a gift card, to a local business, for example.

 Acknowledge important dates.

Holidays, birthdays, anniversaries—everyone likes to be remembered. Small gestures such as wishing someone a happy birthday, congratulating them on a closing anniversary or even a marriage anniversary are a great way to stay connected and build those loyal relationships.

Share your reliable contacts.

Another one of the best ways to build client loyalty in real estate is to share your reliable contacts. What do we mean by this? Well, when it comes to owning a home, it will need upkeep and, at some point, even repairs. Pass along a list of trusted contractors, repairmen, landscapers or designers.

Be sure to foster your connections with your contacts as well. As you refer them, they can also refer clients to you!

Summary

With these six ways to build client loyalty in real estate fresh in your mind, start implementing them today! We guarantee that your clients will appreciate it.

And for more real estate tips and industry news, continue reading our blogs.

things for home buyers and sellers to consider in 2024

5 Things for Home Buyers and Sellers to Consider in 2024

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Does 2024 include a big move for you? From first-time buyers to seasoned investors, here’s a list of five things for home buyers and sellers to consider in 2024 to better prepare them for the real estate journey ahead.

Interest and mortgage rates.

It’s always a good idea for potential home buyers and sellers to keep an eye on interest and mortgage rates. Since October 2023, mortgage rates have begun to steadily decline from 8% to 7–6%. But rates will most likely remain volatile.

Experts suggest paying attention to the Federal Reserve’s interest rate decisions for a hint at where mortgage rates are going in 2024. 

The long-term value of owning a home. 

Homeownership is one of the most reliable and quickest ways to build wealth for a variety of reasons. First of all, it stabilizes a homeowner’s housing expenses with fixed monthly payments. Second of all, as you continue to pay off your mortgage loan, you build equity in the home.

Hence, you add value to your net worth.

Think about what you need versus what you would like. 

Whether you are a first-time home buyer or you’ve done it before, figuring out your needs versus what you want helps you narrow your search. And, from there, you can begin adding on those wants. 

Industry experts have predicted that a few of those key features for 2024 include sustainability, luxury amenities and seamless outdoor-indoor living spaces. 

Calculate your budget. 

Knowing your budget is not a new idea, but it remains one of the top things for home buyers and sellers to consider in 2024. In general, designating about 25% of your net income toward a mortgage payment is a good rule of thumb. 

It’s a good idea to work with your local Realtor or mortgage lender to help calculate your budget. 

Working with an experienced local Realtor. 

Finally, when it comes to things for home buyers and sellers to consider in 2024, working with a knowledgeable local expert is key. In terms of finding the right Realtor for you, talk to a few different Realtors. Ask them questions, read their reviews and ask about their rates and fees, for example.

If you aren’t sure where to start when it comes to finding a Realtor in Lee County, our member search offers a listing of Realtors, real estate offices, affiliates and more. 

Summary

A new year goes hand-in-hand with new possibilities and opportunities, and that includes investing in real estate. Become more familiar with our local market and the opportunities ahead by connecting with us on Facebook, Instagram and LinkedIn, where we share local statistics, insights and more. For more buying and selling tips, local news and trends, continue to read our blogs. 

things to know about the National Association of REALTORS® Code of Ethics

4 Things to Know About the National Association of REALTORS® Code of Ethics

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Looking for a house, not to mention a Realtor, can be overwhelming. However, these four things to know about the National Association of REALTORS® Code of Ethics will help you see the benefits of working with one from the beginning!

But before we delve into the main things to know about the National Association of REALTORS® Code of Ethics, let’s first review what it is and why it was created.

What is the Code of Ethics, and why was it created?

In a nutshell, the NAR’s Code of Ethics is a self-improving guide for all real estate professionals. It was created to guarantee clients are served fairly by requiring Realtors to work together in promoting the clients’ best interests at all times.

Required continuing education courses ensure that Realtors stay up-to-date on the Code and any changes it undergoes year to year.

It was established over 100 years ago.

Did you know the NAR’s Code of Ethics was adopted in 1913? According to the NAR website, it was “one of the first codifications of ethical duties adopted by any business group.”

It embodies the Golden Rule.

Simply put, “Do unto others as you would have them do unto you.” Realtors apply this guiding principle to all their activities, from personal to professional.

There are three main sections.

There are three main sections outlined in the Realtors’ Code of Ethics.

Duties to Clients and Customers

When it comes to things to know about the National Association of REALTORS® Code of Ethics, know that the client is always the number one priority. But Realtors remain obligated to treat all parties honestly, even while promoting and protecting their clients’ best interests.

Duties to the Public

This section includes everything from equal professional services for all to truthfulness in all communications—from emails to advertising.

Duties to Realtors

Once again, the Golden Rule is a guiding principle in this case. Under the Code of Ethics, Realtors promise to be fair, honest and supportive of other real estate professionals.

It gives you—the client—peace of mind.

Knowing your Realtor has taken an oath to protect and promote your best interests in all transactions is comforting. Understanding your Realtor is obligated to disclose pertinent facts about the property is comforting.

Realizing your Realtor works diligently to promote a healthy, competitive marketplace is comforting. And, last but not least, knowing your Realtor is committed to staying current on issues affecting real estate gives you peace of mind.

Summary

Now that you have a better understanding of why “Realtor” has come to mean “competency, fairness and high integrity,” are you ready to connect with a local expert? We can help! Search for Lee County Realtors here. For more industry news and tips, keep reading our blogs.

how homeownership can help during rising inflation

How Homeownership Can Help During Rising Inflation

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Americans across the country are concerned about inflation—and understandably so. If you’ve heard the news, but need a little economics refresher, we’ve got you. Inflation is a fluctuating value. It assigns value to money, causing currency to be worth more or less than it was previously. As of June 2022, inflation was up drastically by 9.1 percent in the past 12 months, as per the Consumer Price Index, or CPI. Though this may seem worrying, there are ways how homeownership can help during rising inflation.

Homes are an appreciating asset.

Some people like to get a return on their money by investing in stocks, bonds, or even a home. Unlike cars or boats, homes tend to grow in value over time. And, unlike renting, your money will be going toward something that you can own.

Another facet of how homeownership can help during rising inflation is the future economic value of your house. If you end up deciding to sell it, your home will likely be worth more during a time when the dollar value is rising. That gives you extra financial capital at your disposal.

Homes mean fewer future moving costs.

Rent prices have also seen a sharp rise in the past few months—and it’s a trend that’s likely to continue. Unfortunately, that can mean some people may have to move again and again as they seek rentals with prices that fit their budgets.

Having to pay to move multiple times can actually eat into your savings, making eventual buying even more difficult.

While it will require a bit of number crunching, you should think about how often you plan to move in the next few years. It can put the costs in starker relief, and it may even give you a good push into home buying.

Fixed-rate mortgages don’t vary from year to year.

Unless you refinance for a better value, fixed-rate mortgages don’t vary from year to year.

That’s a huge advantage over renting—and it means your home will likely get more affordable over time. Just remember that this applies to fixed-rate mortgages only!

Remember: You can always refinance.

Mortgage rates have recently climbed a bit.

While this may keep you from buying for the time being, it may also be helpful to remember that you can eventually refinance when rates are lower. You can also lock in a mortgage rate with your lending company or pay to have it extended.

Talk to your lender—and your Realtor—about options!

Summary

If you need one last nudge to explore the market, now you have one: knowing how homeownership can help during rising inflation.

Still have questions? Want to start house-hunting?

We’re here to help! Contact us to find a Realtor. You can also learn more about the market on our blog here.

benefits of working with a REALTOR®

9 Benefits of Working with a REALTOR®

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Let’s start with honesty. Honestly, real estate may seem simple on the surface, but once you dive in, you realize it gets deep. These nine benefits of working with a REALTOR® may help you avoid getting in over your head!

Honest, ethical conduct.

REALTORS® are licensed professionals. As members of the National Association of REALTORS®, each REALTOR® must abide by a strict code of ethics. To summarize, expect transparent and fair treatment in all transaction-related dealings.

Additionally, your interests come first and foremost.

Objective information and input.

First of all, clients working with REALTORS® will receive non-biased, factual information on properties. REALTORS® can provide information on schools, zoning, utilities and more.

In fact, when it comes to the benefits of working with a REALTOR®, having access to their data as a resource is a huge! After all, you are making a life-changing decision—so having all the facts possible is a strong advantage.

A network of vendors.

Why waste time searching for and vetting an endless list of potential vendors? REALTORS® can easily provide you with a list of respected professionals. This includes contractors, repair professionals, staging companies, photographers, appraisers and so on.

Increased search power.

Along the lines of more data, working with a REALTOR® gives clients the ability to review the Multiple Listing Service (MLS). The MLS is a tool used by REALTORS® to list homes and find others on the market.

Often, there are properties available on the MLS that are not listed anywhere else.

Current know-how.

Rules and regulations change. When you work with a licensed REALTOR®, you can count on their up-to-date knowledge.

Expert local market advice.

Local REALTORS® know the local market better than anyone. They will know what is hot and what is not. To clarify, they can tell you to yay or nay when it comes to national trends versus what is selling locally.

Gain an expert negotiator.

The benefits of working with a REALTOR® keep getting better! Knowing you have a professional advocate looking at all angles centered on your best interests is worth its weight in gold.

Emotional support.

Perhaps one of the more underestimated benefits to working with a REALTOR® is the emotional support. Again, they are objective bystanders who get the gravity of what is inevitably an emotional situation.

They will provide an ear to listen as you work together through the in-depth process.

Expert guidance.

Finally, we saved the best for last. Working with REALTORS® ensures you receive expert guidance every step of the way!

Summary

If you weren’t sure about the benefits of working with a REALTOR®, hopefully this sheds some light! We are also here to answer any questions you may still have. Each and every member of LCAR is capable of handling any and all of your real estate needs. To find out more about us, our members and local real estate news, keep reading our blogs!