6. Making a Commitment to Excellence.
To truly be considered a great agent, top producers
realize good isn't good enough. They commit to excellent service
and an exceptional experience for their buyers and sellers. It is
not about fancy logos or cute slogans. It is about making sure that
anything that can be done to help, is done. That commitment
separates them from the pack and enables them to be certain that their
current customers will easily recommend them any chance they have.
7. Realizing it is the Mission, Not the Money.
One of the things that definitely separate 'good'
agents from 'great' agents is the belief that, if you do the right
things every day, success is guaranteed. Many agents determine
their daily success by whether or not that available to us easily
through the internet. The stockbroker's real value is determined by
their ability to guide us in choosing investments that will show
future appreciation.
When you have that type of belief in your business,
you concentrate on your mission not the money. You can rest easily
at night because you put in a good day's work.
8. Understanding What is Happening in the Industry
and Why.
Imagine if your stockbroker felt his value was in
only telling you the past or current prices of investments. That
would be crazy as that information is aving place over the next 6
months to a year. We must start looking at ourselves as the
interpreter of information. Then, and only then, will we have
created value.
Real estate professionals must see themselves in the same way. The
industry is constantly evolving and understanding what is happening
is crucial to being a trusted advisor to our clients. We must study
the changes and the underlying fundamentals causing those changes.
We must not only look at past history and current situations. We
must try to look at what will be takgot a listing or made a sale
that day. Great agents measure daily success by whether or not they
did the things they planned to get done that day. They know that,
if they do the right things on a regular basis, the listings and
sales automatically come.
9. Knowing How to Communicate Points Simply and
Effectively.
Seth Godin put it best: "That what you tell
them, they will not believe. That what they tell themselves, they
ALWAYS believe."
The sales process has changed forever. Top achievers
realize that it is no longer how well you 'sell' your proposition.
Instead, it now is about educating the consumer so they can pick
the proper option for themselves and their families. If we agree
that educating the consumer is the key to success, the issue
becomes that we must communicate with so much more than words
today. Visual depictions (graphs, charts and tables) of the
information make it much easier for the consumer to comprehend. Top
real estate professionals spend hours on making sure that their
four presentations (listing, buyers, price adjustment and
presenting the offer) are true learning experiences. They load each
presentation with great graphic examples of each and every point
they make.
10. Once You Reach It, Teach It.
Great agents relishes the opportunity to share their
knowledge. They realize that once they reach the top of the
mountain, they have an obligation to light the path for others.
They do not dwell in that dark, dingy place known as 'fear of
loss', but instead stand tall basking in the sun in a place known
as 'opportunity to gain'.
Great agents are people who realize that opportunity is NOT finite.
Great agents want every real estate professional to attain his/her
potential. They know that is the only way for our industry to grow.
It is going to take an army of well educated real estate
professionals to turn this economy around. Great agents are working
diligently to help train that army.
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The Second (and third) Time Buyer has come out of
hibernation
The past several months have shown a tremendous uptick in buyer
activity. And, though we have been buoyed by the increase in sales,
the major drawback was that it was mostly low-end properties that
were selling.
But there is some great news! The mid-tier and upper-tier prices
are beginning to show movement!!
U.S. Census Bureau's most recent 'New Construction Report'
showed that very expensive homes did sell better than in previous
months. The market share of homes costing more than $750,000 rose
150% last month (to 5% from 2% in October).
And the NAR 'Existing-Home Sales Report'
showed similar improvement in the high-end market as evidenced by
the following table:
Though the upper end market has been weak over the
last few years, I believe it is starting to turn. If you have made
money in that section of the market in the past, it seems as though
2010 could be a great year for you. Sales are increasing at the
same time as many agents are giving up on the upper end. Sounds
like opportunity to me!!
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It was interesting growing up with my dad. He was a
very quiet man. But, because of that, you wanted to listen when he
did speak. He kept things very simple but, at the same time, what
he said was always powerful.
I remember one day dreaming out loud about something
I wanted to accomplish. He heard me and asked "What are you
going to do about it?"
I looked at him quizzically, not sure what he was
asking. He then simply said that the world was full of
big dreamers. What the world lacked was BIG DOERS. He explained
that what people spoke of doing, in most cases, was far greater
than that which they were willing to commit themselves to do.
It was his belief that dreaming should be a right
reserved only for those willing to put in the work to make the
dream come true. What he said seemed almost harsh that day. But, as
I got older, I realized, as always, he was right.
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If You Don't Buy a House
Now, You're Stupid or Broke - This is an
actual headline of a Business Week article. There is a link to the
article
and to several posts that elaborate on some of the
points being made in
the article.
Steve Harney NAR
Presentation 2009 - The PowerPoint
slides to Steve's Leadership Presentation at the NAR Conference in San
Diego this past November.
Sell Now or Wait? - This post explains why NOW is the best time to
get the highest value for your house. It also has a map depicting
when peak prices will return in each state.
Short Sale Updates - A comprehensive collection of information,
articles and the requirements of the new short sale process.
How will the value of
YOUR home be impacted by the current economy? - What affects home values and why.
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Let's
begin 2010 with a quick burst out of the gate!
1. If you haven't yet, start 'fint' ing
Social networking is becoming more and more important
to communication in the business world. Make sure you are at least
playing with facebook (f), LinkedIn (in) and twitter (t). Don't
worry about elaborate business plans to drive revenue. Just start
by making sure you have a complete profile on each of the three
major sites. Then play for a little bit each day. You'll be amazed
at how many people you will get to know. In some cases, they will
be old friends with whom you can rekindle a friendship. This is
still a people business. The more people you talk to the more
business you generate.
2. Follow interest rates closely
We know that when rates start to rise they will do
so 'quickly and dramatically'. Keep your eye on them. During the
last three weeks of 2009, they increased almost a half percent
(.43). I do not believe that this is the increase we have been
discussing. I believe the major increase will take place in the
second quarter of 2010.
I am not the only one who believes this:
"If you told me by the end of 2010 a 30-year
rate was at 6 percent that sounds about right. I don't think
there's any question rates are headed up." - Mark Zandi,
chief economist at Moody's Economy
"The ending of the Fed program will definitely
affect rates. So far, the Fed has not expressed interest in
keeping the program going. That could raise rates by some 1 ½ to
points."- Mark Goldman, professor of real estate at
San Diego State University
"After hitting an all-time low in early
December, the average rate on a 30-year, fixed-rate mortgage rose
to 5.05 percent this week and could climb to 6 percent by the end
of 2010, if not sooner, according to giant mortgage financier
Freddie Mac." - Washington Post
Make sure you are alerting your buyers (both new and
move-up) to this as the rise in rates will have a major impact on
their mortgage payment.
3. Work the Tax Credit - especially the move up
buyers!!
The mid-tier and upper-tier homes are beginning to
sell (check out the story below). If you have had, or wish to have,
success in this segment of the market, now is the time to act.
Gather listing inventory at these price ranges to guarantee your
success in 2010.
4. Build and enhance a present and future inventory
of 'short sale'
Short sales are becoming easier and more plentiful.
The banks are realizing that it is a much better alternative to
foreclosing on a property. When the new short sale guidelines go
into effect in April, short sales will dominate the market. Don't
miss out on this opportunity. For more information on short sales, click here.
5. Pricing is still the most crucial piece.
For your entire career in Real Estate, your ability
to properly price your listings will lead you to more success than
any other single skill. In this market, it is even more crucial. We
have a window of opportunity in the first half of 2010 to turn this
market around. There are reasons a buyer should buy now and those
reasons have and will continue to spur demand. As the following
table shows, once those reasons fade, so will demand.
We must realize that the price you can get for your
homeowner this winter and early spring will be greater than what
you can reasonably hope for in the second half of 2010 when interest
rates will raise and the tax credit will disappear. As Forbes.com
reported:
"Late spring and summer are usually thought of
as the best times to put a home on the market because buyer demand
builds steadily through spring ... But this year, experts predict
that the selling boom, which normally starts in spring, will hit at
a different time than it has in the past. Sellers with flexibility
should market their homes earlier in the year."
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"If you throw your heart over the fence, the rest of you will
follow."
- Anonymous
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www.MatthewFerrara.com
A great site for social network training and also
training on the basics of Real Estate. Matthew has one of the most
insightful blogs in the industry. Enjoy!!
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www.KeepingCurrentMatters.com
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