If you are invited to a business or real estate networking event, it is crucial to enter it with a game plan.
First, Know Your Purpose for the event. Are you there to socialize and have a good time or to generate referrals? If your answer is to generate referrals, keep reading.
When you are at the event, be prepared to work the room and talk to at least 15 people. And when you approach these people, don’t simply hand out your information, ask them for theirs. This will allow for easier follow-up and you hold the cards.
During the conversation make sure you let them know right away what you do for a living. “What do you do for a living? I’m a real estate broker.” Inevitably, someone will ask you: how’s the market? The best way to answer is to say that it depends if you are buying, selling, renting or investing.
This can spark a conversation as you they are in the market for real estate, and if so what type. Once the talk is over, make sure to have a business card ready and ask for theirs. If they do no have one, kindly ask for their information (have your Blackberry, iPhone, etc. ready).
If someone seems reluctant to hand out their info, offer an incentive such as “I send out an email newsletter once a month with valuable information about the market. It’s free, easy to read and very informative.”
Once you have a list of names and contact information, don’t forget to send a follow-up email. This will show that you are diligent and help separate yourself from the competition.
Additionally, this unique tactic I ran into at a networking event can also be used: I once met one of the best salespeople in the business and I asked her for her business card. She told me she didn’t have one. I was pretty shocked and asked her: how come one of the best in the business doesn’t carry a business card, and she replied: Give me your information and I’ll be happy to send you one…”
It was a great way to get my information and assure another contact.
We’ll see you home.
Monday, December 27, 2010
Tuesday, November 30, 2010
Board Interview Tips
A board interview can be one of the most stressful days of your adult life. After all, this is to purchase your new home and possibly your place of residence for the next 10-20 years.
If this is your first co-op purchase, then the words “Board Interview” might be foreign and daunting. Here at BARAK, we would like to help facilitate the process and offer valuable advice as you head into your board interview.
#1 – Dress to Impress – While this may go without saying, treat this like any other job interview. For men, wear a suit and tie; and for women dress in business attire with minimal jewelry.
#2 – Prepare for Personal Questions – Since this is from the building, they want to know you’ll be a good neighbor. Handle the questions without acting defensive.
#3 – Don’t Ask Questions – Remember this is your interview, not theirs. Especially leave out questions if they pertain to issues that should have been discussed prior to the interview, such as building financials. If the board gives you the opportunity to ask questions, make it some “feel good” questions such as: “What’s a good Italian restaurant in the area?”
#4 – Enjoy It – Lastly, be relaxed and confident. Approach it this way and it will feel more genuine and the board will know that you are a great fit for the building.
We’ll see you home.
If this is your first co-op purchase, then the words “Board Interview” might be foreign and daunting. Here at BARAK, we would like to help facilitate the process and offer valuable advice as you head into your board interview.
#1 – Dress to Impress – While this may go without saying, treat this like any other job interview. For men, wear a suit and tie; and for women dress in business attire with minimal jewelry.
#2 – Prepare for Personal Questions – Since this is from the building, they want to know you’ll be a good neighbor. Handle the questions without acting defensive.
#3 – Don’t Ask Questions – Remember this is your interview, not theirs. Especially leave out questions if they pertain to issues that should have been discussed prior to the interview, such as building financials. If the board gives you the opportunity to ask questions, make it some “feel good” questions such as: “What’s a good Italian restaurant in the area?”
#4 – Enjoy It – Lastly, be relaxed and confident. Approach it this way and it will feel more genuine and the board will know that you are a great fit for the building.
We’ll see you home.
Wednesday, November 17, 2010
The Buying Process: Part 2
Signing a Contract
Now it’s time to sign a contract. Your attorney will conclude that the contracts and property conditions are satisfactory before the contract is signed. Don’t forget that until the seller has also signed the contract, he/she is still free to entertain and accept other offers, so make sure to move forward quickly and efficiently.
The next step will be preparing your board package for the co-op board. Many first-time Manhattan buyers are unfamiliar with the process. You will need to gather all of your bank and investment statements, tax returns, and business and personal references. After that, you will obtain your “bank commitment letter” from your mortgage provider and then submit your board package.
Submitting the package is the first step in the board approval process. An interview with the building board of directors is next and is a crucial part of the application. Make sure to be punctual, and dress appropriately. Do not ask unnecessary questions or volunteer extra information. Your real estate agent will train and guide you through the process.
Once you’ve received board approval it’s time to schedule a closing. Make sure everyone involved in the purchase (banks, lawyers, seller, buyer, etc.) all coordinate a mutually convenient time. Usually this process takes 10-14 days after board approval.
When it’s all over and the closing papers are signed, it’s time to celebrate. One last thing… don’t forget to pick up your keys!
Now it’s time to sign a contract. Your attorney will conclude that the contracts and property conditions are satisfactory before the contract is signed. Don’t forget that until the seller has also signed the contract, he/she is still free to entertain and accept other offers, so make sure to move forward quickly and efficiently.
The next step will be preparing your board package for the co-op board. Many first-time Manhattan buyers are unfamiliar with the process. You will need to gather all of your bank and investment statements, tax returns, and business and personal references. After that, you will obtain your “bank commitment letter” from your mortgage provider and then submit your board package.
Submitting the package is the first step in the board approval process. An interview with the building board of directors is next and is a crucial part of the application. Make sure to be punctual, and dress appropriately. Do not ask unnecessary questions or volunteer extra information. Your real estate agent will train and guide you through the process.
Once you’ve received board approval it’s time to schedule a closing. Make sure everyone involved in the purchase (banks, lawyers, seller, buyer, etc.) all coordinate a mutually convenient time. Usually this process takes 10-14 days after board approval.
When it’s all over and the closing papers are signed, it’s time to celebrate. One last thing… don’t forget to pick up your keys!
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