By Brian Maecker, top producing Colorado Springs CO Realtor®: 

By Diane Honeycutt, top producing Concord NC Realtor®:

Is anyone else tired of the media hype?  For 3+ years, the National Media has constantly reported on the deteriorating real estate market in the country.  Interesting since in our area 2006 was our best year ever and 2007 our second best year and this held true for the company we work for as well.  Did you ever once hear them report that real estate is local in nature and your local market may be different?  Not me….

Thanks to the election, we heard less about the economy for the last 4-6 weeks but now that the election is over we are back to the economy. 

In some ways, it seems to me as though the media has been a huge contributor to the economic downturn by their constant hype leading to a lack of consumer confidence.  

Knowing that we as Realtors and business people can’t match the medias use of airwaves and ink by the barrel, we need to take a positive step in educating those around us.  Recently we sent out an email to hundreds of clients and business associates dispelling the rumor that the credit markets had dried up and no loans were available.  We had 5 lenders respond to us that they had money and were ready to lend.  Of course, the buyers need a job, down payment and good credit but isn’t that the way it should have been all along.

I encourage each of you to be on top of dispelling the National Media when their reports don’t mirror your community.  Educate your community and ask each person to help you get the word out.  Be proactive and positive in your communications!  No teaching degree required, just a desire to give accurate information!

Diane Honeycutt
Team Honeycutt/Allen Tate Realtors
Concord, NC
704-721-7130
http://www.teamhoneycutt.com/

Contributed By Mike Parker, top producing Northern KY / Cincinnati OH Realtor®:

mike parker top producing ky realtor and star

It is that time of year that we start thinking about what we are going to do for our business next year, start working on a business plan, start thinking about goal setting.

Here is a tip! Read a couple of books first before you start.

I would first read the book “The Dream Manager” by Matthew Kelly. The book is about a company and it is a true story, that is all I will say, but a very powerful book. The second book I would tell you to read is “The 4- Hour Workweek” by Timothy Ferris. This book has changed the way I look at my business and already has made me more profitable. Before you start working on that Business Plan, do some research, “The 2008 Profile of Home Buyers and Home Sellers” is a great source of information. You can get it at www.Realtor.org and I believe the cost is $50.00.

Have a great day selling and Dream BIG!

Mike Parker – CRS

HUFF Realty

Northern Kentucky/ Greater Cincinnati Area

www.MikeParker.com

www.Nkyhomes.com

www.Nky-CincyHomes.com

Contributed By Alexis Bolin, top producing Pensacola FL Realtor®:

1. Know your scripts and dialogues

Seller Objections

• We want to start with a higher price because we can always come down
• We’re not that desperate to sell.
• We’re not going to give it away!
• The agent we spoke to earlier gave us a much higher listing price.
• The house down the street is listed for more than you’re suggesting and ours is nicer.
• The neighbor‘s house sold for more money last year and mine is nicer.
• But we need $______________ out of our home.
• We spent $____________ on improvements and feel that should increase the value.
• We are moving to a higher priced area and need the money to buy a home there.
• Your commission is higher than XYZ Realty so will you go lower?

Buyer Objections

• We are only working with the listing agents.
• We don’t want to sign a Buyer Broker Agreement and get tied up with one agent.
• We hear that this is a buyers market so we should be able to get a steal on a home.
• We want to see all the homes on the market before we make a decision.
• We want to wait to buy at the bottom of the market.
• We need to talk with (our parents, friends, etc) before we make a decision.

2. Price It Right! Know Your Numbers

My Star Power Star friend Brenda Rawls says it all when she tells her sellers “ Right now it is a Price War and a Beauty Contest and in order to sell, you have to win both.”

We get paid for what we know and how good we are at negotiating. Knowing your numbers will set you apart as an expert in the market place. At your listing presentation you must be specific with data that reflects what is happening in the current market. Educate your seller on what to expect in this market This will lead to the seller setting a price that gets them ahead of the current market and gives them the competitive edge to get their home sold for the highest price possible. 

So what numbers should I know you ask?
What is the absorption rate? Absorption rate is time the market place will take to absorb the current supply of homes based upon the average that are selling each month. For example in our area, we have a 17 month supply of homes for sale. What are the average days on the market? What is the listing price versus the selling price ratio in your market area? What’s the average selling price? What are the average days on the market? 

Don’t sugar coat things - tell them exactly like it is.   Be ready to WALK if the seller isn’t willing to do what is necessary to get their home sold. They’ll thank you later and you’ll keep your reputation intact.

3. Know your “A B Cs.”

Categorize your leads. “A” leads are ready to buy or sell now. “B” leads plan to buy or sell in the next month or two. And “C” leads might buy or sell in the next three to six months. It’s easy to salivate over the “A” leads, especially in a slower market. But stay in touch with the “B”s and “C”s - they’re your future business. And remember, the evidence is clear the agent who returns calls first and answer emails quickly will most likely get the sale or listing. Adopt a sense of urgency and make it your goal to respond within 15 minutes to any lead.

4. Get Back to Basics ~ Prospect – Prospect – Prospect

Now is the time to prospect daily. Get back in touch with your client list, your sphere of influence, do direct mail, hold open houses, knock on doors, hold client appreciation events, etc. Never pass up an opportunity to talk about real estate. Have your 60 second “elevator speech” down pat so you can tell people you meet what you do for a living and why. Become an expert and offer to speak about the real estate market to local Civic Clubs.

5. Strengthen your knowledge of technology.

Make sure you are up to date on the latest ways to use technology to increase your sales. For example, are you listed and posting your listings on You Tube, Craigs List, Truila, Zillow. Face Book, etc. If not my suggestion is that you learn how to do it. If you don’t feel you can then hire a high school kid to post the information for you and to get you up to speed on the latest “cool stuff”.

When was the last time you updated your Web site with ways that help you prospect electronically. Such as “drip” e-mail system that automatically sends helpful e-mails to prospective buyers and sellers regularly.  Are you using Text messaging to promote your listings?  You can put a code on each sign where the buyer can text to get information on your listing. The inquiries are sent directly to your cell phone so you can respond immediately with a text message to see if they need further information. This is a great listing tool.

Yes, the market is tough.  But the tough survive. So stay focused, concentrate on the basics, stay informed on the market, and you can weather the storm.

Alexis Bolin
ERA Legacy Realty
4300 Bayou Blvd Suite 37
Pensacola, FL 32503
Office: 850-478-5446 ext 22
Fax:850-478-1987
Cell: 850-777-0275
Email: alexisera@aol.com
http://www.alexissellshomes.com/