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March 2009

Helping Your Clients Understand Covenants

Many towns and neighborhoods have restrictive covenants that govern the size, type and use of residences in the area. It is important for your clients to understand what those covenants mean and how they may affect their real estate purchase...(More)


Can You Recommend?

As a real estate professional, you are probably often asked by your clients for home-related service referrals...(More)


Reach Out and Touch...a Client

You already know that one of the best ways to build business is through repeat clients. Instead of leaving it to chance whether a previous client will call you the next time they buy or sell property, why not stay in touch over the months or years?...(More)

Selling Yourself

Whether part of a resume, website profile, brochure, or business introduction, you’ve probably been asked for information about your professional background and work experience...(More)

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Helping Your Clients Understand Covenants

Sometimes clients can get carried away with a particular property and fail to pay close attention to covenants and restrictions that may affect them down the road. That’s why your client may need you to step in and explain any applicable limitations.

This is especially critical when dealing with clients who are new to the area and may not be aware of city codes or neighborhood restrictions. Be sure to familiarize yourself with restrictions and covenants before you show a property, as they can vary greatly between developments, neighborhoods and subdivisions.

Generally, covenants apply to the size and appearance of homes, and often include the type of changes that can be made to the property in the future; they can even specify paint colors and exterior materials. Covenants may often include setback and easement footprints, and may dictate what types of fencing or enclosures can be used in addition to what types of outbuildings are allowed.

In some cases, covenants apply to pets and animals on the premises. Vehicle parking rules may be outlined, as well as landscape design guidelines. Covenants can also address home offices and whether rental property is permitted. In some cases, covenants require an architectural review and approval of any new construction.

Before your client makes an offer on a property that has covenants, make sure you’ve given them a copy of the latest restrictions and encourage them to read it carefully. Some agents request that the buyers initial a copy for their records.

Most of the time, covenants are not negotiable. Explain to your clients that covenants are usually in place to protect the value of the property in an area by maintaining standards and uniformity. As long as clients understand on the front end how the covenants may limit them or affect what they do to the property in the future, restrictive covenants often will work for their benefit.

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Can You Recommend?

If you are working with first-time buyers or people who are new to the area, you can be a particularly valuable resource for such services as appraisals, mortgages, inspections, warranties, repairs and renovations.

Obviously, the professionals and companies you recommend ultimately reflect on you. This means that you must always recommend or refer services with great care and forethought. Here are some tips for making sure that the companies you recommend share your same goals and passion for customer service excellence:

Always disclose any relationship or experience with a supplier you recommend. If he or she is a relative or friend, say so. If you’ve used this source personally, let the client know. If you’ve never actually employed the person or company yourself, but have seen evidence of their work, explain that as well. It’s important to simply let the client know the level of your experience with and knowledge of a recommended company.

Try to meet the supplier in person before making a recommendation. Even if you’ve heard wonderful things about the services they provide, a face-to-face meeting will give you the chance to evaluate their level of professionalism as well as to seek answers to important questions. Most suppliers will be more than happy to pay a visit to your office for this purpose. Don’t hesitate to tell them what your expectations are.

Ask for a list of references. Contact at least a few of the references and ask about service, quality, punctuality, and professionalism.

Find out if the supplier’s industry requires licensing. If so, ask to see a copy of the current license. If licensing is not required, find out if the supplier is a member of an industry board or trade association. Communicate this information to your clients.

Ask about the company or professional’s independent standards. For example, AmeriSpec inspectors adhere to the company’s own Standards of Excellence, which are more demanding and precise than the less stringent Standards of Practice to which some home inspection companies subscribe.

Ask about training. What level of expertise can you expect from the people being sent to serve your clients? Is ongoing training a priority to stay on top of industry trends?

Consider whether your supplier is affiliated with a national company. Oftentimes, national companies offer the resources necessary for superior training, networking and personnel.

Follow up. Ask your clients about their experience with the supplier you recommended.
If their experience wasn’t at least satisfactory, contact the supplier and communicate your disappointment in a constructive way. Remember, you want your own high standards to be reflected in any recommendation you make. Following up will help ensure that future referrals are productive, positive experiences.

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Reach Out and Touch...a Client

With imagination and creativity, keeping in touch will take minimal time and effort. Here are a few simple-to-execute ideas:

People can be swamped with holiday greetings on the major holidays, so be different and choose a lesser celebrated holiday for your greeting to stand out. For example, stick an inexpensive American flag by your client’s doorstep on the Fourth of July with a tag bearing a patriotic message from you. Or, send Valentine’s cards saying how much you “loved” helping your clients find or sell their home.

Birthdays are easy to keep track of on your computer. Send quick, inexpensive birthday wishes via e-mail. You clients will be happy – and impressed – that you remembered.

Throw a party! Whether at your home or another location, host an annual event where you can invite all current, former and even potential clients. Make it as casual and low-key or as formal and fancy as your budget allows.

Hand out calendars every January. Many real estate companies produce calendars for this purpose, or you can have your own made at your local print shop. Calendars are a useful way to wish your former clients a Happy New Year and to keep your name in front of them year-round.

Drop off some flower or vegetable seeds in the spring along with a card from you. This inexpensive idea is a great way to plant the “seeds” for future business!

Pick up the phone. In these high-tech days of e-communication, your clients will like hearing from you in person.

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Selling Yourself

While most people are very good at offering specific dates, numbers, facts and awards, they can find it hard to adequately communicate their more intangible (yet vitally important) personal strengths and qualities. Here are some suggestions for developing a professional profile that will reveal the real you:

First, read your current profile with a critical, detached eye. Would you want to do business with this person? Then, ask at least five trusted family members, friends or colleagues to do the same. Does it really communicate who you are? Will the reader have an accurate picture of who you are as a professional and as a person?

Before you start re-writing, jot down some answers to a few questions. What has changed in your career since the last profile was written? What is your single most important professional accomplishment? What is your guiding philosophy at work? What is your service philosophy? What is the one thing you can do for your clients better than anyone else can? What do you like most about being in real estate? Do you have a market niche? If not, is there a particular part of the market you enjoy the most or serve particularly well? What do you think your clients would say about working with you? These answers will give you the outline of what your profile should really be. Read over the answers to find adjectives and descriptive phrases that you can use.

Turn negatives into positives. For instance, if you are new to real estate, point out your enthusiasm and fresh approach. If you have many years in the business, emphasize your extensive knowledge and experience.

Keep your profile as concise as possible. Use bullet points if needed. Employ a professional, yet warm tone. Be specific with your wording.

Ask the same five trusted family, friends or colleagues to read your new profile. Give them all red pens and ask for honest feedback. You might even consider asking a former client or two to review the profile and see what they think.

If you want to add personal information, such as mentions of family or civic accomplishments, put those toward the end of the profile.

Review your profile at least annually and make adjustments as necessary.

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