When it comes to the world of real estate, local Realtor Grace Frank says strategy is key for success.
“I always say your strategy matters and your passion rules,” she said. “I have a real knack for strategy and a real passion for real estate.”
“Strategy” breaks down differently for buyers and sellers, but Frank stressed that it’s equally important for both sides.
“For sellers, preparation and flexibility are key,” she said. “For today’s market you must prepare your property to look its best, and you must be open minded when the offers come in, as buyers still feel it is a buyers’ market, though the trend is changing.”
Buyers, in turn, should “buy right and sell well,” she said. “You only make your money when you buy. If you buy right you can sell well,” Frank explained.
Preparation and organization are the two main concepts to keep at the forefront of any strategy, and for that, Frank has a dedicated and trusted staff behind her. Their main goal is to give clients the tools to make the right decisions and to be there as a solid sup- port system, said Frank.
“Systems are vital, and we have great systems that allow a client to review information, communicate concerns and execute strategy based on valid information,” she said. “I always analyze the personalities and then execute a plan that creates a win-win scenario. If a strategy is not a win-win, it is flawed.”
Negotiations in real estate strategy can be a bit like playing cards, according to Frank. Those involved must know when to hold them and when to show them. Every situation is different and the strategy depends on the personality of the buyer and sellers.
“I recently had a buyer that was also a seller,” Frank said. “When selling their home we needed to drop the price in the middle of the negotiation to create urgency for the offer, and when we began negotiating the new home they fell in love with, they wanted to go in with a lower price below what I thought was the threshold of tolerance. They ended up going with my strategy and got their offer accepted and alleviated any multiple-offer situations and still got a great deal.”
For more of Frank’s tips and advice on strategy and negotiations for real estate, visit secretsforsellers.com for sellers and smartvaluebuyer.com for buyers. There, you’ll find many tools and articles that assist in making wise decisions pertaining to real estate.
“Information is powerful,” Frank said. “I believe when you edu- cate individuals they can truly make the best decisions.”