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Archive for July, 2017

A property search is an important source of information to help conduct successful real estate transactions. It is a real estate sales professional’s job to research to the best of their ability to help their clients make the best decision possible.

Buying or selling property is a major life event for most homeowners. They are counting on you to make it happen quickly, efficiently and, most importantly, to their advantage. To be proactive, it’s vital to be properly informed about a property in the early stages of the transaction process. Time is money, so it’s important to look at ways to quickly get your customers answers to the things that are likely on their mind. Are you a mind reader? No, but there are common questions that can be answered before the client even gets a chance to ask…

Here are eight questions clients may or may not ask their real estate sales professional that can be answered with a property search:

  1. What is the home actually worth?
  2. Have there been recent comparable home sales in the immediate area?
  3. What is the neighbourhood profile? Having access to good demographic data enables you to answer your client’s questions about a given area or community.
  4. Are there any encumbrances on the property? Encumbrances may include liens, deed restrictions, easements, encroachments and licenses.
  5. Are there any surveys of the property? Surveys show property boundaries and the location of all buildings and structures in relation to boundaries.
  6. What permits are required for building or renovating? Buyers may choose a property based on whether they can alter the building or build something new.
  7. Are there any liens or other obstructions to a seamless transaction?
  8. What are the zoning, planning or other approvals for the property? This is especially important for buyers acquiring property for new development.

If you want an accurate and current property search, GeoWarehouse subscribers can not only get a variety of customizable searches, subscribers can create customized property detail, neighbourhood sales and demographic reports too! Plus, get access to exterior, aerial and bird’s eye view images of properties and so much more.

Not a GeoWarehouse subscriber yet?

Visit www.geowarehouse.ca today to learn more about this fantastic real estate resource.

 

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Generating real estate leads is about turning prospects into clients. There are always new opportunities out there, you just have to know where to look and how to convert a prospect into a client.

What’s the difference between a lead and a prospect? A prospect is a potential lead. They need your service, but they haven’t specifically picked you. While pursuing prospects is a worthy investment of your time, what you really want are leads. That’s when you have the name and contact information for someone who is a potential future client.

The single biggest difference between prospects and leads is their engagement. Prospects need to be identified and cultivated. They are a distinct investment in your time and efforts, and with the right amount of outreach from you demonstrating your talents and abilities, they will likely contact you when the time is right for them.

Leads, on the other hand, are characterized by two-way communication. A lead has already responded to your marketing efforts, and they’ve reached out to provide you with their contact info – either through a call or online form. If you can contact them, then they’re a lead.

Identifying prospects, nurturing leads and converting them into clients is a big part of a real estate professional’s day – generating real estate leads. One of the biggest mistakes made is not regularly following up with their prospects and leads.

Here are five suggestions for bringing in more leads:

  1. Don’t wait for leads to fall into your lap. While you want your marketing to bring in leads, don’t wait for it to happen. Schedule time each day to generate new leads.
  2. Use social media networks to connect to prospects and leads – this way, if you don’t land a lead now, you have established a connection to keep marketing to them.
  3. Reach out to for sale by owner (FSBO) properties to discuss the benefits of hiring a real estate professional. You already know they want to sell, they just haven’t realized you’re the best person to make the sale happen.
  4. Real estate postcards are expensive, but you can set up a digital postcard campaign to save on paper and stamps! It’s an effective way to stay-in-touch with clients and encourage leads. This throwback technique with a digital twist could pay big dividends for your business.
  5. Use your hobbies to tap into more real estate leads. Have fun while you generate leads. Use your common interests to meet potential clients. This could even mean participating in social groups on Facebook.

Miriam-Webster defines a prospect as “something that can develop or become actual.” To turn possibilities into a sure thing, you need to have access to the best and most current real estate information possible.

With GeoWarehouse, you can access a variety of reports and information that will give you the edge when generating real estate leads. Become the expert by subscribing to GeoWarehouse today!

Visit www.geowarehouse.ca to learn more about this valuable real estate tool.

 

 

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July 10, 2017

While many real estate professionals cringe at the term, for sale by owner (FSBO) properties can actually be an excellent opportunity when prospecting for new leads. But let’s be honest: reaching out to an FSBO can be a challenge for some real estate professionals.

It doesn’t have to be difficult to convert for sale by owner properties into leads. Developing any lead is a smart investment in time and money – and the best way to boost your bottom line. Pursuing solid leads is well worth the effort – if you can turn them into clients. That being said, of all the leads at your fingertips, FSBOs are the easiest because they have already decided to sell. Now you just have to convince them that you are in the best position to help them do so.

Often, stories of other successful FSBOs may inspire home-sellers to go the DIY route, but were they actually success stories? Those sellers may have sold themselves short by selling for too little in order to sell fast. Is that a reflection of the market, or that they undervalued their home? Without the expertise of a real estate professional, what are FSBOs missing out on?

Homeowners generally don’t enter into real estate blindly, but those who do typically end up looking for a professional to take over and sell their home. This is why you need to convince them that you are the right person to take over the sale when the time is right and they finally decide they need the services of a professional.

So, what is the key to converting for sale by owner properties into leads? Establishing value – your value. Sure, owners think they’re saving money by doing it themselves, but they don’t realize all the work that goes into selling homes and what a real estate sales professional actually does to slap on that SOLD sign. It is your job to show them the value you can bring and how you can ultimately help them sell at the best terms.

Providing value to your clients means giving them more. Delivering valuable information about the current market, housing trends in the area, property values and comparable sales works to present you as knowledgeable and dedicated to providing great service.

With the suite of reports and information readily available through GeoWarehouse, you can become the expert homeowners can turn to when their solo efforts fail. Not already a GeoWarehouse subscriber?

Visit www.geowarehouse.ca today to learn more about this incredible real estate tool.

 

 

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July 4, 2017

Real estate sales professionals are constantly up against big competition with DIY homeowners trying to sell their homes themselves. The internet has made it much easier for homeowners to enter the real estate game without the aid of a real estate professional (whether this is a good idea or not).

What consumers don’t realize is that real estate professionals offer key advantages when it comes to selling and buying a home, advantages which make hiring a professional like you the better choice vs trying to go it alone.

One key advantage for customers dealing with a real estate sales professional is the professional’s ability to utilize tools to easily access information the homeowner may not be able to, such as a property search. As a real estate professional, you have access to market information, property information resources and other valuable real estate reports that the average homeowner may not be able to find online, but that you can access through professional tools online. The information in a property search – when reviewed and analyzed by a real estate professional – provides value to the homeowner, including information on who owns a home, if there are any registered mortgages, estimated property value, aerial imagery and so much more.

It’s simple math: the more research you do, the better you can inform your client.

Here are five questions a property search can help answer:

  1. Are there any encumbrances on the property the buyer should be aware of?
  2. Where is the property located? Can you provide a neighbourhood report, listing local hospitals, schools and other pertinent amenities?
  3. Does the property have a history of repairs and renovations?
  4. What permits are required for building or renovating?
  5. Is there anything that may hinder a potential sale?

In real estate transactions, it is critical to verify material information about a property through due diligence – we all know this. With a thorough property search, real estate sales professionals can take reasonable steps to determine and disclose any material information to their clients.

Researching market trends provides you with a better overall understanding of what housing values are in a particular neighbourhood, city or region, from week to week. This allows you to estimate a property’s value before spending resources to dive deeper, and better determine if it’s in the range you were thinking. Instead of always pulling MLS comparables, you can save time by establishing a high-level overview of a particular area.

How deep you dive is really up to you. Start with a property search and then dive even deeper by obtaining a Parcel Register*. The Parcel Register* – which is not a title search, but part of the process – contains valuable information. It’s a snapshot of vital property-related information, such as the property’s legal description, legal homeowners, property transfer history, liens and more.

Having access to the wealth of data available through Parcel Registers* means you can dig deeper when you do a property search, which makes you a more informed real estate professional. Every piece of information that can increase the value of the transaction benefits not only you and your client, but everyone who comes after you in the real estate process. Better research benefits everyone.

Go the distance for your clients by leveraging GeoWarehouse. Visit www.geowarehouse.ca today to learn more about this incredible real estate tool.

* An official product of the Ontario government pursuant to provincial land registration statutes.

 

 

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