Description
Book SynopsisThe reliable, classic guide to INCOME PROPERTY BROKERAGE--now updated for the 21st century
For more than thirty-five years, this guide has been the most reliable, trustworthy resource for real estate brokers and agents who want to increase their commissions and start selling income property. Now in a new Fourth Edition, A Master Guide to Income Property Brokerage is back and better than ever. With significant new material on the Internet and powerful, up-to-date tactics, brokers and agents alike will find in these pages all of the high-quality information they need to succeed. Sixteen power-packed chapters feature step-by-step income-building information that will help you:
* Profit from five quick ways to find property owners who will sell
* Turn your leads into listings that sell
* Nail down sales using today''s new and ingenious ways to finance income properties
* Price income property to sell quickly
* Set up operating statements that prom
Table of ContentsA WORD FROM THE AUTHOR ix
WHAT THIS GUIDE COVERS x
INTRODUCTION Your Golden Opportunity for Big New Commissions and Profits in Income Property Brokerage xii
Why This Guide Is So Important to You xii
A Word about Big Commissions xiii
The Unique Benefits of Income Property Brokerage xiv
CHAPTER 1 How to Profit Most from Different Types of Income Property 1
How an Income Property Differs from a Real Estate Investment 1
Types of Income Property 2
How to Use Your Efforts Most Profitably 8
Cyberspace Marketing Tips 9
CHAPTER 2 Five Quick Ways to Find Property Owners Who Will Sell 10
Where to Find Prospective Sellers 11
How to Find Out Who Owns the Building 37
Finding Sellers at Cyberspace Speed 39
CHAPTER 3 Turning Your Leads Into Listings That Sell 42
Priority Checklist for Listing Efficiency 42
How to Handle the Owner Who Has Already Decided to Sell 44
Step 1: Persuading the Owner to Sell 45
Step 2: How to Persuade the Owner to Use Your Services 53
Step 3: How to Gather the Necessary Information 55
How to Obtain and Record the Information 59
Financing: The Critical Part of the Listing Form 63
Cyber Assists for the Listing Process 69
CHAPTER 4 How to Use Today’s New and Ingenious Ways to Finance Income Property 70
How to Multiply Your Selling Chances 73
Six Rules to Help Project Potential Financing 74
When to Place a New First Mortgage 83
Creating Maximum Leverage with Secondary Financing 91
A Proven Method for Obtaining Low- Rate or No- Rate Mortgages 117
Finding Income Property Financing in Cyberspace 118
CHAPTER 5 How to Price Income Property to Sell Quickly 121
How to Estimate Action Price Level 123
How to Put the APL Guides Into Action 131
Cyber Assists for the Pricing Process 134
CHAPTER 6 Setting Up Operating Statements That Promote Sales 136
Setting Up an Operating Statement 137
How to Prepare the Beginning of an Operating Statement 139
How to Construct the Middle Portion of an Operating Statement 141
Financing 142
How to Complete the Final Segment of the Operating Statement 143
How to Use the Income Analysis Section 147
Cyber Assists for the Operating Statement Process 152
CHAPTER 7 How to Present the Unique Benefits of Investing in Income Property 153
The Six Big Selling Points of Income Property 154
CHAPTER 8 Thirteen Immediate Sources of Buyers—And How to Approach Them 183
How to Amass a Huge File of Ready Investors 184
Finding Buyers at Cyberspace Speed—The Huge Potential 195
CHAPTER 9 Proven Techniques for Qualifying Buyers 198
How to Classify Your Investors 201
How to Handle Your Initial Interview 205
How to Review and Summarize the Interrogation 213
How to Maintain Your Prospect Files 228
CHAPTER 10 How to Advertise Income Property—And Make It Pay Off Big 230
How to Write Ads That Build Sales 231
Avoid These Pitfalls 237
How to Capitalize On Free Ads 239
How to Submit an Acceptable News Release 244
CHAPTER 11 How to Show Income Properties for Fast- Action Sales 248
Some Special Problems, and Strategies to Solve Them 249
How to Appeal to a Buyer’s Five Senses 260
An Action Memo 263
CHAPTER 12 How to Master the Fine Points of Selling Income Property 264
How to Answer Frequently Asked Questions 265
How to Answer Your Prospect’s Objections 269
The Seven Basic Objection Categories 271
How to Present the Plus Features Convincingly 278
CHAPTER 13 Condominium Conversion: An Exciting Wealth- Builder 281
Condominium Marketing: A Case History 281
The Profits of Condominium Conversion 283
The Mini-Checklist for Suitability 286
Establishing a Conversion Team 294
The Condominium Conversion Process 297
The Future of Condominium Conversion 299
Cyberspace Marketing Tips 301
CHAPTER 14 How to Sell Like a Giant Using Cyberspace Tools 303
A Vision for Technology’s Impact on Real Estate 303
Tech Tools Evolving 304
A Marketing Plan Evolves 305
Creating Your Marketing Campaign in Cyberspace 306
How to Use E-Mail to Reach a Wide Network of Potential Buyers 310
A Huge Online Source of Buyers, Sellers, and Tenants 321
How to Develop a Custom Presentation Template 325
Use Cyber Marketing to Sell Anything—Including Yourself 327
Build a Following with a Monthly Customer E-Newsletter 330
CHAPTER 15 How to Make a Final Presentation That Clinches the Sale 332
How to Dramatize What the Property Will Do for Your Prospect 332
The Peckham Boston Analysis: A Powerful Wrap-Up 333
How the Analysis Worksheet Sells the Property and the Broker 340
CHAPTER 16 How to Keep the Ball Rolling and Put These Profitable Techniques Into Action Now 349
How to Get Into Income Property Brokerage—Step by Step 349
Your 20- Week Timetable—A Road Map to Success 351
How an Income Office Operates 356
Five Qualities That Spell Success 359
ABOUT THE AUTHOR 361
INDEX 363
