Tag Archives: Johnson County Real Estate

The Number One Real Estate Brand in Kansas City

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The number one real estate brand in Kansas City has been and always will be – YOU!

Real estate in Kansas City, and every other market across the country, is a local business and people do business with whom they know, like and trust. The National Association of Realtors 2011 profile of home buyers and sellers, surveyed home buyers and sellers and asked them why they chose the agent they worked with. Here are their findings:

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If the number one brand in real estate in kansas city is YOU – let’s take a look at where most new and seasoned agents have the best opportunity for growth:

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More new agents and seasoned agents are beginning to PROFIT FROM THE TRUTH and are no longer buying into the rumors our competitors are feeding them.

Keller Williams is not threatened by the individual agent’s success. We believe in business conversations based numbers, in growth, education and training. The real estate company you choose to partner with has less to do with splits, and costs, and more to do with your NET result at the end of the year. We focus on building business worth having, careers worth owning and lives worth living.

Are you hitting your potential? What does the next level of success look like for you? Who at your current brokerage is helping you get there? How much longer are you willing to wait to make what you deserve?

Let’s sit down for a cup of coffee and go over these questions. Contact me today for a confidential business strategy session so you can get your answers from the source. You can always buy into the rumors, or you can PROFIT from the TRUTH.

The Secret to Converting For Sale By Owners into Listings in Kansas City

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Are you looking to convert more For Sale By Owners into listings in your market?

Regardless of the market, one of the best listing opportunities are still the For Sale by Owner, or FSBO (pronounced Fizz-Bo by most Realtors). There are several reasons why FSBO’s are still and have been one of the best listing opportunities for realtors and they are:

  • They have already “raised their hand” that they want to sell.
  • Most are already willing to work with agents who have buyers, so getting in touch and creating a relationship is fairly easy.
  • There are usually plenty of them to prospect and they have their phone numbers and emails readily available.

So why aren’t more agents listing For Sale By Owners in their market?

While the reasons vary, most agents don’t convert FSBO listings due to several reasons. Do any of these apply to you?

  • Since FSBOs are called on by many agents early on, they may get a frustrated individual on the phone and it makes them feel bad, that “All FSBOs are just MEAN!”
  • They don’t have a system to keep in touch over time, so they fail to follow up and then some other agent invariably gets a sign in the yard.
  • They don’t have anything of value to offer when they follow up with the For Sale by Owner so each call feels like they are bothering them.

These are just several of the main reasons why most agents give up on FSBOs and why you can use this information to your advantage.

A few stats on For Sale By Owners that you need to know.

  •  94% of for sale by owners do not sell on their own.

    Kansas City For Sale By Owner conversion information

    Information so you can effectively list more for sale by owners in your market.

  • of those that do sell, they sell on average 11% less than if they would have been represented professionally.
  • The biggest obstacle that FSBOs face is getting the property priced right
  • The second biggest obstacle is understanding and executing the paperwork.

So what can I do to convert more For Sale By Owners into more listings?

  1. Truly come from contribution and don’t be like every other agent who is just going in for the listing. If you approach FSBOs with a real regard to help them, they will remember that when they decide to explore a professional listing.
  2. Be sure to have information, or items of value, available to help a FSBO in their sale. The stats are still valid, and most will not sell due to lack of exposure and marketing, but they will remember the agent who actually tried to help them sell.
  3. Actually follow up when you said you would. If you told them you would call every week to check in on them and they said it was okay, THEN DO IT! Sure week one, 15 agents are calling. By week two that number is in half. Week three there are maybe you and one other agent calling. By week 4 it is you and only you.

Recap:

Converting for sale by owners into listings in your market and in Kansas City does not have to be a stressful and painful experience. Keeps several of these lead generation tips handy and you will be increasing your listing inventory like clockwork.

If you want to take this conversation even deeper and discuss the specifics of your action plan and what items of value you leave with your FSBO prospects, just contact me for a private and confidential consultation. Worst case scenario is that you leave with some great information that will help you grow your business.

Setting Buyer Expectations in a Seller’s Market in Kansas City

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Setting buyer expectations in a seller’s market in Kansas City can save you time, money and frustrations!

Seemingly overnight we have transitioned from a buyer’s market (more than six months of inventory) to a seller’s market (less than 6 months inventory) in Kansas City. Naturally there is some lag between when the news passes this info along. So right now, we have real live buyers in the field, still looking to get that deal of a lifetime, and they are coming up on homes that are going under contract in less than a week, multiple offers and oftentimes now going under contract for more than list price. If you are not ahead of this shift, and setting your buyer’s expectations about the market ahead of time, you could be setting yourself up for frustration and disappointment.

So how do you set buyer expectations in a seller’s market?

In short, data. You should have the ability to pull up market statistics in your local MLS that can show you average list to sales price ratios over a period of time. In the Heartland MLS that report is called the “Market Conditions Addendum” and does a nice job of compiling the data in a very easy format. Let’s be real, all the data in the world doesn’t mean diddly if you can’t interpret it and relay the info to your buyers in a way that they will understand.

So what if your buyers still think that they can go out and steal a property?

So if you have tried to set your buyers expectations by showing them the data that shows them that we are in a seller’s market here in Kansas City or wherever you are, then sometimes losing out on a property is the only remedy. We are the agent of our client. We can provide advice and consult to the best of our knowledge, if your client still wants to lob in an offer then as a fiduciary you have to do it. Just make sure to let them know that they could be losing out on their perfect home, while someone else comes in on top of this offer and takes it.

Ok, great Mat, we hear you, but how can I set my buyer’s expectations in this Seller’s Market?

Simple. Scripts.

List Price to Sales Price
The average list price in (____________) is (__________) but the average sales price is
(__________). That means that sellers are coming down approximately (__________
dollars). The reason I share this information is that I would prefer to turn you down now,
rather than disappoint you later, if you think you could offer $25,000 less than the list price
and actually expect to get it.
So let me ask you a very direct question. If we found you the perfect home and the seller
is only willing to come down about (_________ dollars) how would you feel about that?

If you want even more killer tips on taking advantage of this monstrous shift in the market, reach out to me here!

Overcoming NO in Real Estate Sales and in Life

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Overcoming NO in real estate sales and in Life – changing the way we look at asking for what we want!

I had a recent conversation with a dear friend about their business and we came across a really great subject that I wanted to take a minute and go over with you. In a nutshell, we were talking about our respective services and that there were times when their bids seem high and they sometimes freeze before presenting them for fear of rejection – fear of the NO. Overcoming NO in real estate sales

The word NO is such an interesting word – only 2 letters – but those two letters have the power to completely paralyze  us and cause us to fall into inaction. So why is that? My daughter is about to turn three and she is fearless when it comes to the word NO, she will ask and ask for hours to get what she wants, sometimes getting 10-15 no’s until either I tire of the struggle and say yes, or she gets bored of the asking and moves on. At what point in life do we lose this never ending desire to get what we want?

In sales and in life we have to deal with NO on a daily basis. It’s just a part of the job, and those who can overcome the fear of NO don’t just do a little bit better than their counterparts, they are crushing it.

So what is the main fear behind NO?

Rejection. We all want to be liked and making a call, meeting with a client or asking for something you want puts us in a vulnerable state. Asking someone to work with us or choose us puts us in a position that if they say no, it can oftentimes feel like they are rejecting us personally, even though more than 95% of the time it has nothing to do with you personally. They are usually just not ready for your service, or you have not demonstrated enough value for them to make any type of switch.

So how do we get past the paralyzing fear of hearing NO?Getting to YES in real estate sales in Kansas City

  1. Don’t be tied to the result! – A pro baseball player in the hall of fame strikes out 70% of the time during their entire career! What kind of career do you think they would have if they got discouraged after 2 or 3 strike outs?
  2. Make collecting No’s a game. – If it’s about numbers, then if your goal is to get to 30 No’s a day, then imagine how many Yes’s would be sprinkled in there. Also, notice the mind shift, if you are making calls to get No’s then what happens when you hear one? That’s right, success! The Yes’s are in there and they will come out.
  3. Never forget that if you never ask then the answer is always NO.

So get over your fear of NO! It’s little, it’s insignificant and most importantly it’s just two little letters that are standing in the way of your true potential and life changing opportunity.

Real Estate Jobs in Kansas City and 2013 Trends

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Right now may be the best time to get a real estate job in Kansas City.

Have you ever hear the term, “It’s all in the timing?” Timing plays a big role in those who succeed and those who wait.

Let me introduce you to the three main types of people in this world:

  1. Those who “Do”. These are the first to act, they take calculated risks when presented with all the facts, but also reap the majority of the rewards. They seem like magical fortune tellers. If you ask them how they do it their answers are simple, “All the indicators pointed in a particular direction and history indicated that the next ‘big’ thing was about to happen.”
  2. Those who “Watch and Wonder”. These individuals are on the sidelines watching those who “Do”. They often have the same information presented to them, but due to either fear or lack of understanding they fail to take action. So they stand on the sideline wondering what happened and how those who “Do” knew it would be a slam dunk.
  3. Those who have no clue. These individuals are completely out of the loop and are not even aware that there was an opportunity. They are content in their current situation and have no desire to change their status. They are often heard saying things like “Money Doesn’t Grow on Trees” or “Slow and Steady” or “Get a good job and work hard”

If you are in category number 2, I am about to share with you some very important information in regards to real estate and the housing market in Kansas City, Lawrence and the state of Kansas as a whole.

The market is shifting – Big time. If you have been considering a job in real estate in Kansas city, or investing in real estate in Kansas city then please pay attention because here is your opportunity to be a part of category number 1.

The center for real estate at the W. Frank Barton School of Business at Wichita State University just released it’s 2013 Kansas Housing Market Forecast and the results should excite you.

For the Kansas City Market:

Home sales are expected to rise over 5.4% over last years total volume of 26,960 to almost 29,000 units sold. Prices will continue to see a nominal increase of 1.5% appreciation and lending rates are expected to remain stable for the next 12 months.

kansas city real estate market activity and 2013 forecasat Kansas City home price appreciation index and forecast

For the Lawrence Market:

Existing home sales are expected to rise over 15.8% to 1,390 units which is near 2007 levels and prices are expected to climb 2.1%. One of the biggest indicators are that NEW homes permits are expected to rise 3.1%.

Lawrence Housing market activity and 2013 forecast Lawrence Kansas Home Price apreciation and 2013 forecast

So, now what are you going to do?

You have the information, now what are you going to do with it? Call me now to find out how a job in real estate my be the best thing for you and your family. Don’t be caught sitting on the sideline – you are now in the know, take action.

-Mat Lewczenko – 913.322.8379 – MatL@kw.com – www.KWcareersKC.com

Real Estate Careers in Kansas City

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Are you considering a Real Estate career in Kansas City?

Start your real estate career right! with Keller Williams Diamond Partners!

Did you know that the market is now starting to turn? Were you aware that home prices in many neighborhoods are starting to stabilize? Foreclosures and Short Sales in Kansas City are starting to decline, bringing what was one a very strong ‘buyer’s’ market into a more balanced market, and even into a ‘seller’s’ market. If you have been on the fence considering a career in real estate in Kansas City then right now may be a better time than ever.

Is a career in real estate for you?

Have you found yourself sitting at home, watching HGTV, House Hunters, Flip This House or Million Dollar Listing and thought to yourself “I would be a great real estate agent!” Then a career as a real estate agent may be the perfect fit for you! But before you just jump right into this, you may want to ask yourself a few questions:

  1. Are you a self starter and can keep on task with no one pushing you to get a job done?
  2. Do you feel comfortable meeting new people and talking about your business?
  3. Are you a good time manager, can you keep appointments or are you always late?

If you can answer YES to any of these questions then you may be a perfect fit for a real estate career in Kansas City and the surrounding metro.

So how do I get started in Real Estate?

You will want to start interviewing brokerages and seeing if the culture and training match your needs. Questions to ask:

  1. What type of new agent training do you offer?
  2. What are my costs as an agent? Commission Splits?
  3. At what point do I get to keep 100% of my commissions?
  4. Does your company do any charity work in the community?
  5. What type of ongoing and continuing training opportunities do you have to offer?

To find out more about how Keller Williams has become the real estate company of choice amongst new and experienced real estate agents just give us a call at 913-322-8379 to set up a meeting. Or visit our website at http://www.KWcareersKC.com and register below to be contacted for the next step.

Are there any particular requirements for me to purchase a Foreclosure or Short Sale in Kansas City?

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Are there any particular requirements for me to purchase a Foreclosure or Short Sale in Kansas City?

This is part of a longer blog thread where we are talking about distressed sales in Kansas City, and more particularly in Johnson County Kansas, and what the differences are, and which one is right for you. You can read the first post on this topic here.

As with many things in life, buying a foreclosure deal in Johnson County also comes down to “The Benjamins” – Cash money, financing and/or a combination of both.

Foreclosures

There is a big push for the foreclosures on the market to be purchased by Owner Occupants – people who are going to live there. Many of the government backed foreclosures and or big banks have a special period that only owner occupants can bid on a property. HUD call this the “exclusive” period which varies in length of time but can usually be about 14 days, and Fannie Mae calls this the “First Look Initiative”. During this time, no investors are able to submit an offer, therefore reducing the competition for these deals.

Just because you want to buy a foreclosure, doesn’t mean you can! Lending requirements for different loans have different “condition” requirements. That means, if you can only qualify for an FHA or VA type loan, the house may be in too rough of shape for it to pass the lenders appraisal process. A really good lender can explain all the different loan types available and what you will qualify for, I’m not going to get into that. Important thing to note is to tell your lender that you are considering looking at foreclosures and which loans will work for you.

Short Sales

Depending on the condition of the property the same lending requirements may apply here as well. On of the very biggest requirements in purchasing a short sale is PATIENCE. It can take 77 to 120 days for a Short Sale to close. So be prepared to make an offer, have the seller sign it and then wait for up to 3 months before you even get a response from the bank. It doesn’t mean that people are not doing their jobs, the banks are just that overloaded.

So, are there any particular requirements for me to purchase a Foreclosure or Short Sale in Kansas City? Mainly your financing, whether you are going to live there or not and your time frame are your most important factors.

Where can I find Foreclosures and Short Sales in Kansas City?

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Where can I find Foreclosures and Short Sales in Kansas City?

This is one part of a longer blog thread where we are talking about distressed sales in Kansas City, and more particularly in Johnson County Kansas, and what the differences are, and which one is right for you. You can read the first post on this topic here.

The good news is that by reading this post you are already one step closer to finding the “GREAT DEALS” that foreclosures and short sales have to offer. Actually, if you just look up at the first line – that particular hyperlink will take you to a very special list – a Johnson County Foreclosure list. (Don’t tell anyone!)

I mainly wanted to write this post to warn you of the predators out there that are willing to take your money to offer you something that is pretty much free – well, you may need to provide some contact info – but never your credit card number. So if you have ever stumbled upon a “Get the Hottest Secret Foreclosure List” site and they ask you to pay for it – RUNNNNNNNN!!!!!!!!

Foreclosures – If you are really interested in finding them you can ask your Realtor – I happen to know a good one if you need one 🙂 – and have them run a search in their MLS  (the Multiple Listing Service, the database that all realtors use to market homes for sale) for the terms “REO, BANK OWNED, CORPORATE OWNED, AS IS, HUD, FANNIE MAE, and FORECLOSURE”. This should bring up quite a list of foreclosure properties, and they can set you up on an automatic email that updates you with any new properties as they come on the market.

Short Sales – This one is a little harder to search on your own, but your agent (wink wink) can help you out with that. There is a field in our particular MLS here in Kansas City where if a listing is a potential Short Sale, then they have to disclose it to the other agents. We as agents can search those types of listings or even remove those types of listings from your search.

So, Where can you find Foreclosures and Short Sales in Kansas City? Well, silly, you just did!

What’s the Difference between a Short Sale and a Foreclosure?

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What’s the Difference between a Short Sale and a Foreclosure?

This is a great question and we get asked this a lot.

This is one part of a longer blog thread where we are talking about distressed sales in Kansas City, and more particularly Johnson County Kansas and what the differences are and which one is right for you. You can read the first post on this topic here.

So back to the main question.

What the heck is the difference between a short sale and a foreclosure?

There are two main differences and they all have to do with where in the foreclosure process a property or owner happens to be.

So what is a foreclosure?

A foreclosure is a listing that is being sold by a bank or other entity that has taken back a home that went into default and was unsuccessfully sold at the foreclosure auction. It is vacant and can be in many different level is disrepair. Sometimes these are called “REO’s”. According to Wikipedia, “The term REO originates from the term Other Real Estate Owned (OREO), which is used on financial statements to classify real estate property owned by financial institution but which are not directly related to its business.” Generally foreclosures are much easier to purchase and can close fairly quickly 10-20 days depending on the lender.

So what the heck is a “Short Sale”?

In short (no pun intended) a short sale is an attempt for a seller to sell a home for less than they owe(selling it “short”) on their mortgage balance in lieu of going into foreclosure.

Why would a bank want to do something like this? Why would any bank agree to sell for less than what is owed? Great question! Foreclosures are expensive and banks are in the business of lending money and not owning homes. If a seller is not able to make payments and the house can only sell for a certain amount of money, then the bank may actually save money by accepting a short sale than going all the way to foreclosure.

We will get into this in a later post, but there is nothing quick about short sales and the can take 77-140 days to close. Yikes!

If you want to find out more you can reach out to us and we will be happy to sit down with you and discuss your options. Also, if you know of someone who is behind on their payments and feels like their only option is foreclosure, then they need to talk to us right away. They have option that can greatly affect their future borrowing ability – they do not have to give up.

Till next time!

Buying Foreclosures and Short Sales in Kansas City and Johnson County – What’s the deal?

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Buying Foreclosures and Short Sales in Kansas City and Johnson County KS can be a very  good opportunity for any buyer, and especially in a buyer’s market you can get a two for one value. So what’s the deal? Is there a deal? How do I find them? How do I buy them?

Do you know what you are getting into?

Make sure you know what you are buying before you get too excited about a possible deal.

Great questions! Lets look at a couple key points that I am going to discuss in detail in future blog posts.

  • What is the difference between a Foreclosure and a Short Sale?
  • Where can I find Foreclosures and Short Sales in Kansas City?
  • Are there any particular requirements for me to purchase a Foreclosure or Short Sale?
  • Are Foreclosures or Short Sales right for me?

What is the difference between a Foreclosure and a Short Sale?

There are huge differences and while both can be a great opportunity, It’s important to know what you are getting into. Especially if you have a very strict time deadline. You will find out the “Short Sale” does not mean “Quick Sale”. We will go into that in more detail in our next post.

Where can I find Foreclosures and Short Sales in Kansas City?

You have started at the right place! With Me! DO NOT GO OUT AND PAY FOR A LIST! Just subscribe to this blog or our Facebook Fan Page to get the info hot off the presses.

Are there any particular requirements for me to purchase a Foreclosure or Short Sale?

Yes, depending on if you are going to rent or live, or finance or pay cash.

Are Foreclosures or Short Sales right for me?

We will discuss things like timeline, type of financing, how handy are you? Do you have a little pile of cash to make repairs and make double your money? Are you patient and can wait for the right deal?

Stay Tuned! If you cant wait for the next post, just email me or contract us here.