Puyallup Real Estate Market

Pierce County Market Update July 5 with audio

Kirk Rau (Keller Williams Realty Puyallup) — Sun, 20 Jul 2008 22:46:02 -0500

The Pierce County and Thurston County Market Updates have been an evolving tool since I began tracking the market in Thurston County approximately October of last year. It is my belief that the County Update combined with a slightly more local Monday Morning MARKET PULSE convey a very accurate assessment of the local and hyper~local real estate climate.

In order to make the most intelligent choices regarding your home and real estate investments I believe it is absolutely imperative that you have and are able to understand perfectly accurate and applicable LOCAL and HYPER~LOCAL real estate market statistics.

There is a TON of important and revealing data on the document below! So, rather than bore you with endless type, please click twice on the arrow below and then just listen.

If I do not explain something perfectly and/or you have more questions please feel free to call me or shoot me an email.

Monday Morning MARKET PULSE Puyallup Washington with audio

Kirk Rau (Keller Williams Realty Puyallup) — Sun, 20 Jul 2008 21:30:49 -0500

This is my first publication of the Monday Morning MARKET PULSE for Puyallup. I was the Team Leader and Business Coach at KW Olympia and have been doing the PULSE for Olympia for several months. Today I am serving home sellers and investors in my backyard (Puyallup).

This weeks MARKET PULSE reveals a very clear picture, lots of them actually. If you price your home between $200K and $250, there is plenty of purchase activity. If you're thinking that you need to list your home over $250, then your competition will be plentiful and the purchase activity slows, almost exponentially, as you climb the price ladder.

THIS IS THE WRONG TIME TO "TEST THE MARKET"! If your home price is not compelling, you simply will not get offers and you won't sell your home. No exceptions. Sorry.

Get professional pricing and staging advice from a REALTOR that is very familiar with the local market.

If you NEED to sell your home soon and you would like to know exactly what it will take to sell your home in this market, just shoot me an email or call me and we can chat.

Instructions: If you would like to hear a little of what I have to say about the Puyallup MARKET PULSE below, please click twice on the arrow in the Gabcast box, then make sure your speakers are on. That's it.

Thurston County Monday Morning MARKET PULSE

Kirk Rau (Keller Williams Realty Puyallup) — Mon, 16 Jun 2008 15:31:36 -0500

It's Monday again! The Monday Morning MARKET PULSE doesn't look all that bad today. The powerful message is not in the numbers in THE PULSE this week. This past week saw the most important development for residential real estate in the last 12 months! Interest rates went UP by almost a full quarter point. What does that mean for your buyers and sellers?

Buyers: The roller coaster that you were riding and waiting for the "bottom" just took a predictable JUMP! We know, most of us, that interest rates ALWAYS go down slowly and go UP quickly. So if you were looking at homes around $300K last week, your new monthly payment just WENT UP by about 55 bucks per month! The payment that you were budgeting for last week now buys you about $10K less home. OUCH.

Sellers: While you were waiting for Buyers to get antsy and make the offer for your home at the price that you were HOPING for, your home just got significantly more expensive. And you didn't do anything? What will this mean for your home's value should interest rates continue to climb? How important is pricing your home IN the market? Is your price comparative, competitive or is it actually compelling?

Did you miss the "bottom"? Ask your REALTOR about the impact rising interest rates could have on the sale of your home.

A List of Good Reasons to Sell Real Estate and NOT be a REALTOR

Kirk Rau (Keller Williams Realty Puyallup) — Sat, 07 Jun 2008 20:20:08 -0500

Here is the definative list of reasons why you should sell real estate and not pay your REALTOR dues.
Buckle Up!

There's your list. It took me hours, hundreds of hours of research and interviews, to come up with that list. I did not intentionally set out to ask people why they are not REALTORS.

Just thinking about the brokerages and agents who say that they would rather "save their money" and not join the professional association that protects them, their role in the local and national economy, and even their very income absolutely baffles me.

TIMES OF DURESS REVEAL TRUE COLORS AND VALUE

In an expanding market (that was 2002 through 2006), business appears to happen easily, houses seem to sell themselves, deals happen, money flows and the seeds of failure are sown.
True needs seem to be cloaked, met very easily or even disquised as assets.

In a consolidating market (NOW), business appears to slow, clients must be sought out, opportunity is elusive and the seeds of massive success are sown.
Old needs come back and NEW CHALLENGES AND NEEDS RAISE THEIR UGLY HEADS AND REVEAL THEMSELVES.

Your REALTOR association at the local, regional and state level is working nearly 24 hours a day RIGHT NOW on YOUR behalf in regards to the new consumer protection laws that go into effect on June 12 in Washington state. If you cannot afford to contribute to RPAC right now because of the consolidating market...GET CREATIVE! Hold a fund raiser, do something.

Grab that jar of pennies that you were saving for the next family trip and contribute that money AND MORE to RPAC because here's the deal... Without RPAC moving powerfully in the right direction on your behalf in the coming months YOU WON'T HAVE YOUR FAMILY TRIP NEXT YEAR! Period.

Any words to the contrary are the words of a fool. Was that too rough? :-)

Thurston County MARKET PULSE June Week 1...with Audio

Kirk Rau (Keller Williams Realty Puyallup) — Wed, 04 Jun 2008 01:40:46 -0500

Are those signs of life or just statistical anomolies caused by the dates that the data was drawn this month?
What is a "sign of life"? And what the heck is a "statistical anomoly"? And what is a MARKET PULSE?

Answers: The Thurston County MARKET PULSE is pretty much exactly that. A taking of the pulse of the market in Thurston County. A sign of life is breath from the dead, or a heartbeat in a flatline. I will explain both of these concepts and some of the other good, or not-so-good, stuff that I see in this week's MARKET PULSE.

Instructions: Please double click on the arrow next to the word PLAY then just listen. Be patient and make sure that your volume is turned up enough. Enjoy.

Gabcast!

If your business is not thriving, it should be, and I can help.

Thurston County Market Update June with audio

Kirk Rau (Keller Williams Realty Puyallup) — Wed, 04 Jun 2008 01:18:01 -0500

I hope that you weren't holding your breath waiting for "the bounce"! What has always been a strong month on the real estate seasonality calendar saw a DROP in units sold in Thurston County this month. Last month we saw uniform numbers down the Absorption Rate column. This month a little of the character that we have gotten used to has come back a bit. I will talk about this and much more in the recording below.

Instructions: Just below you will see a Gabcast box. Just double click on the arrow next to the word PLAY and make sure that your volume is loud enough to hear. If you would like an editable copy just shoot me an email.

Gabcast!

If your business isn't thriving, it should be. Shirl and I can help.
Ask Terry Mitchell, Susan Draper, Phil Harlan, Corey Feldon or Jorge Ruiz.

Monday Morning MARKET PULSE for Thurston County

Kirk Rau (Keller Williams Realty Puyallup) — Wed, 28 May 2008 22:45:25 -0500

If you would rather listen than read, just double click on the arrow button next to the word PLAY on the gabcast box below.

Every Sunday night I document the real estate activity in Thurston County. In this report we track number of new active listings, total active listings, number of new pendings and total pendings, all categorized by price.

Although this report does not provide a complete picture of the market it is very helpful. With a quick glance you can see where the inventory is stacking up, where it is selling, the rate at which it is selling and the rate at which new properties are coming on the market. If a real estate professional wanted to get really down and dirty she would compile a report like this for a specific town, geographic area or mls area and then sort out new construction. Three reports would probably be best: New Construction, Resale and Combined. If you create one please shoot it over to me. Thank You.

Gabcast!

If the largest appreciating asset that most Americans ever own is ON SALE then it is time to buy!
A Buyer's Market is a skill-based market.

Now is the time to bring opportunity to your clients. Cheers.

The Millionaire Real Estate Agent Economic Model Explained...with Audio

Kirk Rau (Keller Williams Realty Puyallup) — Tue, 20 May 2008 20:29:16 -0500

The successful real estate agent works their business plan. The best and most functional real estate business plan has four working models. Each one of these models is necessary. Here is a simple and understandable explanation of The Economic Model.

Below you will find a Gabcast logo. Please click twice on the arrow next to the word PLAY, then scroll down a bit, place your cursor over the lower left-hand corner of the slide presentation and follow along. Later this week we will post our explanation of The Lead Generation Model.

Gabcast! The MREA Economic Model #1

If your business is not thriving, as it should be, I can help.
Call me and we can set up a 45 minute business consultation.

Keller Williams Profit Sharing Demystified

Kirk Rau (Keller Williams Realty Puyallup) — Tue, 20 May 2008 19:51:11 -0500

Profit Sharing at Keller Williams Realty seems to be a hot and controversial topic around lots of water coolers these days. Is it real? Is it a PYRAMID? Is it legal? Here is a simple explanation for everyone.

IMPORTANT INSTRUCTIONS:Just below these instructions you will see a Gabcast logo. Click on the arrow, two or three times, until the word PLAY disappears and you see the word pause. The audio will start in a second or two. Then scroll down a tad, place your cursor over the lower left hand corner of the slide (a little thingy will appear that has arrows on it) and follow along. You will have to click the forward arrow here when the audio tells you that it's time. Again, click twice if once doesn't work. It's pretty simple. If the slide show below is empty, please refresh your browser. Technology isn't perfect. But it is free.

Gabcast! Keller Williams Olympia Profit Sharing #1

"Should i move my license to Keller Williams because of the profit sharing?"

NO!

Build your business in the evironment that provides everything that you need to succeed at YOUR highest level, so that you can live YOUR life worth living.
If your real estate business is not currently thriving, as it should be, I can help.
Call me to set up a 45 minute confidential business consultation.

Thurston County Monday Morning Buy Sell Sheet...No Audio Yet, New Format

Kirk Rau (Keller Williams Realty Puyallup) — Tue, 13 May 2008 01:06:51 -0500

The real estate market speaks only one language. The language of numbers. Your business speaks the same language. The better you are at understanding what the market is saying to you, the better you are at explaining it to your clients.

Know the numbers = Know the market        Know the market = Sell more homes

One of the not-so-secrets of success in real estate today is mastering the market of the moment. In order for you to master it, you must first understand it. I put together one weekly document and one monthly document that, between the two of them, convey a pretty accurate picture of what is happening right now in the Thurston County Real Estate Market.

You will find below this week's copy of the Monday Morning Buy Sell Sheet. We did a major overhaul to the sheet this week. If you've never seen it before, don't worry about going back to look at past weeks. If you have been keeping up, just be aware that we've added ACTIVE INVENTORY AND PENDING INVENTORY TOTALS and our percentages are based on these numbers.

I will come back tomorrow and drop commentary recording here.

Just for fun, we did one for Lacey ONLY. It is posted below. Keep in mind that we did NOT remove new construction from these numbers.

$250K to $300K in Lacey doesn't look like a bad place to be if you are a seller.
$200 to $225K looks a little backed up. Hmmm.

Thurston County Market Update May 2 with Audio and this weeks Monday Morning Buy Sell Sheets

Kirk Rau (Keller Williams Realty Puyallup) — Tue, 06 May 2008 16:52:10 -0500

IF YOU DON'T KNOW THE NUMBERS, YOU DON'T KNOW THE MARKET.
IF YOU DON'T KNOW THE MARKET...YOU SHOULDN'T BE SELLING REAL ESTATE.
~ HERE ARE SOME ENLIGHTENING NUMBERS ~
Gabcast! Thurston County Update April 2 #2

Below you will find this weeks Monday Morning Buy Sell Sheet. Below it is a recording the explains the document a bit. Remember, this is NOT a trend report. This is a snapshot in time.

Gabcast! Monday Morning Buy Sell Sheet #1

Thurston County Update April with Audio

Kirk Rau (Keller Williams Realty Puyallup) — Thu, 03 Apr 2008 17:31:11 -0500

IF YOU DO NOT KNOW YOUR MARKET'S NUMBERS...
YOU SHOULD NOT BE SELLING REAL ESTATE.
This tool is updated every month so that Thurston County real estate professionals can know their numbers, what those numbers mean and what to say to clients. This time I loaded an audio of me discussing this month's update. It has a little explanation and some ideas for what to say to your sellers. From now on I will post audio with ideas, scripts and instruction for the use of the scripts. Click PLAY on the player below and then scroll down a bit to follow along. Enjoy!
Gabcast! Thurston County Update April 2 #1

Thurston County Monday Morning Buy Sell Sheet

Kirk Rau (Keller Williams Realty Puyallup) — Sun, 16 Mar 2008 23:35:38 -0500

Every Sunday night I look at and I document the number and price points of the new listings that have come to market and the number and prices of homes that went pending this past week in Thurston County.
In order for you to sell homes at the highest level you must know your numbers , you must
know your market , and you have to know where the money is going and why.
Business speaks a language. The market speaks a language. YOUR business speaks a language. If you do not speak that language then you will remain in the dark.
Business, the market and your business speak the language of numbers. I create this tool and the Thurston County Market Update and then post them here with commentary in hopes that you will begin to understand this language and come to speak it powerfully.

THERE HAS NEVER BEEN A BETTER TIME TO BUY REAL ESTATE. Why is that Kirk?
Real estate is on sale and money has never been cheaper!
Interest rates remain stable for now. The markets all looked to hit a bottom-side resistance and commodities, like crude oil and gold, look as if they have launched into momentum.
I will be holding an Objection Handling Class in the near future so stay in touch.
Kirk
253.376.5475

Thurston County Real Estate Monday Morning Buy Sell Sheet

Kirk Rau (Keller Williams Realty Puyallup) — Tue, 11 Mar 2008 19:15:22 -0500

It's a good thing that our income is NOT based on home value appreciation! Huh? Why in the world would agents say it's a "good market" when home prices are going up and a "down market" or bad market when home values are on the slide? We get paid for closed sales. Period. Once a person gets their mind all the way around that, new lights go on.
Here is this monday's Monday Morning Buy Sell Sheet for Thurston County. None of this data is secret or proprietary in any way. That said, you won't find it anywhere but here. So feel free to check back on Mondays to find out what is really happening in our market.
Here is what I am seeing this week. There is significantly more inventory coming to market over $225K than there is leaving the market. And we have had a fairly static number of new pendings for the last three weeks.
IF that number holds and 65 to 70% of the contracts actually close then we should continue to see the predicted seasonal trending.
I will repost below the Thurston County Market Update for this month just in case you did not see it earlier. Any single snapshot does not an accurate picture convey. A person has to look at a couple data sources over time to see what is really happening.
If you would like an editable copy of this just shoot me an email.

A Powerful and Wise Message from the past...applied to your tomorrow!

Kirk Rau (Keller Williams Realty Puyallup) — Tue, 04 Mar 2008 02:00:08 -0600

Have you ever heard of Admiral Stockdale? Unless you were formerly a university professor of American History the answer is probably NO. That's ok. Today is YOUR lucky day and I am going to tell you why.
IF you understand the message of The Stockdale Paradox and how it applies to your business today AND THEN adjust your perspective and business plan accordingly you will be in a much more powerful place.
"You must never confuse faith that you will prevail in the end - which you can never afford to lose - with the discipline to confront the most brutal facts of your current reality, whatever they might be."
Admiral Jim Stockdale was the highest ranking US military officer imprisoned in the Vietnam conflict.

Here's how Stockdale put it. "I never lost faith in the end of the story. I never doubted not only that I would get out, but also that I would prevail in the end and turn the experience into the defining event of my life, which, in retrospect, I would not trade."
"Who didn't make it out"?
"The optimists. They were the ones who said ‘we're going to be out by Christmas'. And, Christmas would come and Christmas would go. Then they'd say, ‘We're going to be out by Easter.' And Easter would come, and Easter would go. And then Thanksgiving, and then it would be Christmas again. Then they died of a broken heart."
So, on the one hand it was about unswerving faith that one will ultimately prevail while on the other hand it's about banishing all false hopes? As usual, the guy who lived it says it best.
"You must never confuse faith that you will prevail in the end - which you can never afford to lose - with the discipline to confront the most brutal facts of your current reality, whatever they might be."
MESSAGE?
ACCEPT THE MARKET! REALTORS don't get paid on appreciation. We get paid to sell homes, regardless of the cost or the net or the loss. Serve clients. Write contracts. Sell homes. Be profitable. Change lives.
Should you choose to tell yourself the story that "it will get better" or "this will pass" or some other optimistic bandaid, you are setting yourself up for FAILURE! The market is what it is. Just serve. Innovate. Measure your activities for results. Adjust your focus and THRIVE.
Market-share shifts in markets like these and the agents who are setting themselves up to WIN BIG are not the ones sipping martinis while wearing rose-colored glasses and talking about "a better market coming soon".
I will tweak this post and add a bit to it in the next couple of days to make it better.
If you are NOT thriving in this market, what do you think that you should do?
Kirk
253.376.5475
WHAT STORY ARE YOU TELLING YOURSELF ABOUT THE MARKET?
GET REAL, GET RIGHT OR GET RUN'D OVER.
The worlds most powerful 30 minute listing presentation. Click, print, memorize, internalize and profit BIG.
Be sure to come back and check out the other posts. I promise it will be worth your time.

Thurston County Market Update for March 2

Kirk Rau (Keller Williams Realty Puyallup) — Mon, 03 Mar 2008 02:06:56 -0600

That is 336 transaction sides closed in February in a county with something like 750 REALTORS in our county. That is a LOT of house payments that are not being made. These are not the days of business as usual. For some thoughts about the characteristics of the agents that are thriving is this market check out this blog...
Look at those absorption rates! Take note here of the behavior of the market and where the money is going. The funny thing is that in a couple circumstances a pop in closings reflects that sellers have sobered up a bit. And usually those sellers are builders. Check out the % of new construction listed in each city and then compare to the % of sold that is new construction. Looks like some NC sellers in Yelm have gotten a little smarter in their pricing. I could be wrong. I am just guessing based on these numbers.
The new box this week is called IN Median DOM. This is the median number of days on market for the homes that were priced IN the market. WOW! I sorted out the closings that had to CHASE the market to get an offer and the median DOM for those closings was 60 to 70 days MORE than the homes that were priced IN the market.
SO. What are you going to tell your sellers when they ask "How long is it going to take to sell my house?"
The numbers are funny. Look at the % of closed resale homes in Yelm that were priced IN the market. That looks like a very strong percentage. Right? But divide 5 by 185 and now it looks like only 2.7% of the resale homes in Yelm were priced IN the market last month. Ouch. As opposed to 6.7% for Lacey resale homes.
Here is my final question for you...What is EVERY buyer looking for right now?
Call me with your answer and I'll buy...coffee. And we can share notes.
Kirk
253.376.5475

How can you force the seller that did NOT list with you to pay you thousands and thousands and thousands of dollars this year?

Kirk Rau (Keller Williams Realty Puyallup) — Sat, 01 Mar 2008 18:02:44 -0600

For the sake of clarity: They won't actually pay you. You will, if you choose, profit more from your experience with them than you would have, had you actually taken the listing.
How do I do that sensei? This is where the sharp agents say "DUH!". Do this...Call the seller or drop by and ASK THEM what it was that caused them to list their home with the agent they chose. Then THANK THEM for their honesty and their time AND compliment the agent that they chose to list their home with.
The bigger test: If you cannot bring yourself to ask, to thank them AND compliment the agent that they chose to list their home with, then THEY probably made the right choice by not choosing you.
This indicates that you are probably NOT learning-based, that your EGO is standing between you and your success and that you do not see your fellow REALTORS as both your competition AND your valuable business associates.
Lessons:
1) Constantly and purposefully evaluate your wins and your losses so as to improve your craft.
Ask two questions: What did I do wrong that needs to stop? What did I do right that I can do better?
2) One minor tweak can exponentially catapult your listing appointment conversion rate.
This is how losing one could set you up to win many many many more.
Here is a sample script for you to use...
"Hi Mr. Seller, this is Sally with ABC Realty. Thank you for taking my call."
      Hi Sally. (awkward moment) We chose list our home with Jake at XYZ Realty.
"I noticed that you did. And that is why I am calling. So that I may have the opportunity to improve, may I ask you ONE quick question?"
      OK.
"What was it that caused you to list your home with Jake at XYZ?"
      Well. He did this or said that.
"Mr. Seller, thank you so much for giving me the opportunity and for taking the time to be honest with me. You made a good choice. Jake is a great agent and I will be happy to show your wonderful home should I have the right buyer for you. Thank you again, and I want to wish you all the best."
That is it!
This market provides zero margin for error, so in order to win, one must constantly increase conversion rates.
I hope that this helps you.
The wrong call with THE WRONG INTENTION that will get you into LOTS of hot water...
"Hi Mr Seller. I saw that you listed with Jake at XYZ and not with me. Bad choice. You evidently did not do your homework. That is expected as most sellers aren't very smart. Good luck selling your home. You'll need it. By the way, why didn't you choose me? When something goes wrong and your home doesn't sell you should call me. Or you can just cancel your listing with Jake right away, do the smart thing and list with me."
Do you see the difference?

Thurston County Monday Morning Buy Sell Sheet

Kirk Rau (Keller Williams Realty Puyallup) — Mon, 25 Feb 2008 01:10:17 -0600

This is NOT a trend report! If you save this report every week and graph the data, then you would have a trend report. Here are a few of my observations this week. There are significantly less new pendings this week. 61% of all new pendings were under $250K. That does not leave much activity over $250K. Long term interest rates have gone up and will continue to do so. Very short term rates have remained nearly unchanged.
Real estate is on sale! And money is historically cheap right now! Today is the day to buy several homes.
We should have bought a couple hundred ounces of Gold last Monday! Last Friday April Gold was at 905 and this week it is priced at 950! That is a 5.5% increase in one week. Bear in mind that the inflation-adjusted all-time high for Gold is just $1200. Crude oil is also near an all-time high.
Call your CPA and ask her or him what it means when the cost of commodities reaches all-time highs.
If you would like an editable copy of this for your use just shoot me an email or call me.
Kirk
253.376.5475

Hey Smartie Pants...How's YOUR Income?

Kirk Rau (Keller Williams Realty Puyallup) — Fri, 22 Feb 2008 02:50:37 -0600

YOU ARE GETTING PAID (earning) WHAT YOU ARE WORTH! Everybody is. Yep. Cry about it. Or change it.
That law is MORE reliable than gravity. Keep reading.
Your earnings reflect ONE of two things 1) the value of the services that you bring to the market place or
2) what your boss decides to pay you for the service that you provide so that she or he can provide a good
or service to the market place.
So. The way I see it real estate agents have three options. Number one, keep whining about "the market" and in the next breath regurgitate that hollow gospel of optimistic blah blah blah that you heard at the water cooler and watch your business continue to spiral down the toilet. Number two, work more. Just keep doin whatcha been a doin and spend more hours a doin it. OR number three, INCREASE YOUR SKILLS. Call me and we can sit down, evaluate your business, your strengths, your opportunities and create an action plan.
If number three sounds good to you, here are a couple 3b options...
Narrow your focus: Do only the activities that are dollar productive, focus on your 20%.
Innovate: Change the message in your lead generation and marketing.
Measure: Measure and evaluate what you are already doing.
Become Remarkable! Only the outstanding will slingshot to greatness in the near future.
Go to www.WealthBuildingWednedays.com and listen to the recordings in the Agent Productivity section.
Free wisdom. No one is watching you.
Kirk
253.376.5475

Are you having trouble getting your sellers to PRICE IT RIGHT?

Kirk Rau (Keller Williams Realty Puyallup) — Wed, 20 Feb 2008 23:09:27 -0600

I have no idea why they have left this session open to the public. But they did. And here it is for you.
https://secure.kw.com/kwu/content/kwc_M501.jsp
This Keller Connect Session is broken up into four videos. Here is the summary for each segment.
Learn why mindset is the most important step in pricing it right.
Learn how presenting your numbers visually enables you to show sellers that the market controls the price. Dianna and Tony interview Mega Agent Steve Tufts from Atlanta, GA.
Dianna and Tony discuss key components such as the law of supply and demand, the definition of value, and how to prepare the seller for price reductions.
Dianna and Tony role play different strategies to ask for and obtain price reductions.
This good stuff! Tony DiCello and Dianna Kokoszka both have track records in the real estate business and in coaching Mega Agents that some aspire to and most don't even imagine. Set aside an hour, grab some paper and a pen and dig in. I guarantee it will be worth your time.
Other resources for elevating your mind and your street skills...
Millionaire Mondays -> http://www.millionairesystems.com/msys/BBB.html
www.WealthBuildingWednesdays.com
These are not the days of business as usual.
Kirk
253.376.5475

How much did those business cards cost you? Are you sure?

Kirk Rau (Keller Williams Realty Puyallup) — Mon, 18 Feb 2008 00:16:15 -0600

This is kind of a post log to a recent blog post...How to win big in real estate...right now!
I feel like I didn't answer a question that I posed. And I wouldn't want to leave you wondering.
How much did those pretty business cards cost you? $59? $99? Maybe $129? That may be what you
paid the printer for them but I am certain that they COST you much more than that! But how?
And how much?
Let's say that you went through 500 business cards this past year.
And half of those actually ended up in the hands of people that you spoke to in person.
Now your turn for YOUR part of the math...How many transactions came from those cards? 1? 3?
My math...How many transactions did you leave on the table by passing out cards and
NOT collect contact information?
250 people that you met, handed a card to and did not get contact information from.
Had YOU taken their contact information, put those people on 8X8 and 33 Touch Plans, that would have translated into 41 transactions within 12 months. Hmmm. Does that number hurt a bit?
Ask Hobbs & Herder or Gary Keller! For every 12 people that you meet, put on 8X8 and 33 touch you
will do approximately 2 transactions per year. That would be one of the 12 doing a transaction with you
and one of the 12 referring a transaction to you.
So. Let's knock it in half, just for fun. Your average sale price is $250K and your average % is 2.5 X 20
transaction sides. Your business cards cost you a mere $99 out of pocket and
somewhere around $125,000 in missed commissions.
OUCH!
Call or email me if you like to tell me how wrong I am or if you would like some asssitance creating
8X8 and 33 Touch Plans for the people you meet in the near future.
Now is not the time for business as usual.
Kirk
253.376.5475

How to win BIG in real estate...right now!

Kirk Rau (Keller Williams Realty Puyallup) — Fri, 08 Feb 2008 00:18:04 -0600

BURN YOUR BUSINESS CARDS!
"But Kirk, my cards are so pretty, and people like them, and I have to "get my name out there", and how nobody is going to be able to call me to sell their house if they don't have my card! Right?"
Kirk's Lead Generation Theorem #1
When given the choice, people choose to do business with people that they KNOW, LIKE, TRUST and FEEL CONFIDENT can do the job. The most magical, mystical and powerful business card from the fairy tales cannot and will not bring a person to know you, like you, trust you and build confidence in your ability! Period.
Passing out business cards makes you feel good because somebody told you to do it. Passing out business cards makes you feel better when business disappears because you can go to bed at night and tell yourself that "at least you did something". What are you pretending not to know today?
Not only is passing out your cards ineffective, it actually costs you thousands of dollars!
Would you like to know how and why that is?
25% of the people that you gave cards to lost them. 50% aren't ready to take action soon. 75% of the potential clients already have a REALTOR. That leaves about 5 to 10%. And not a single one of them knows you, likes your, trusts you OR feels confident in your abilities and knowledge. Hmmmm. That does not leave you in a powerful place with your phone ringing off the hook, does it?
BURN YOUR BUSINESS CARDS!
Get their contact information and then contact them 8 times or more over the next eight weeks.
THAT IS THE ONLY WAY to move from "just met" to the agent that they know, like, trust and feel confident can do the job.
Here are a couple of things to say in order to get contact their information...
"My dog ate all my business cards. How can I get ahold of you?"
"I like to send my friends and clients information on the real estate market from time to time. Would you like to receive it? Great! What is your address and phone number?"
"Do you have a family real estate consultant?" (they answer yes or no) "Would you be offended if I kept in touch?"
If you have not yet, read The Millionaire Real Estate Agent. The research is pretty clear. For every 12 people that you meet and put on a plan that touches them 8 or more times over 8 weeks, you will get two transactions every year. Yes, it is work. These are not the days of easy, comfortable and quick. If you are going to be IN the business then get to building your business.
Shoot me an email or give me a call if you would like to chat or scream at me about this post.
Kirk Rau 253.376.5475

Utilizing POWER TECHNOLOGY to market your listings...cheap

Kirk Rau (Keller Williams Realty Puyallup) — Wed, 06 Feb 2008 14:18:51 -0600

What are you telling your potential sellers? Do you sound convincing? Do YOU believe what you are saying? Are you telling them what they want to hear? Or are you telling them the TRUTH? When you tell them about a "marketing plan" does it look like every other agent in your office? Like every other "marketing plan" they will see?
Do you sound like this? "I will expose your home on my office website, realtor.com, and blah blah blah..."
OR
Are you conveying to sellers that you are a Marketing Expert that goes way beyond the scope of the average realtor?
Below you will find 48 websites or web communities that will allow you to expose your listings and yourself to potential sellers and buyers for FREE, or nearly free. I could write for MANY hours explaining the what-to-dos and how-to-dos for many of these sites and communities and then you might ask, "Kirk, does this stuff actually work?"
Here is my advice: Pick one per week or per month and give it a shot. If it does not get you more buyers and sellers, at the very least it is one item that you can convey that just might set you apart from the next agent.

Have fun! And feel free to call or email if you would like some help.
~Kirk

Thurston County Market Update February

Kirk Rau (Keller Williams Realty Puyallup) — Tue, 05 Feb 2008 23:52:00 -0600

If you don't know your numbers, you should NOT be selling real estate!
What happens when inventory climbs and the number of closings remains static? When reading this it is important to bear in mind that closings in the month of January is a function of the contracts written in December and November, for the most part.
These are single family residential statistics, not inlcuding condominiums, sorted by city.
Call or shoot me an email if you would like an editable copy for your use.
What do these numbers tell you?
I would be prospecting for sellers in the areas where the absorption rate in months is the lowest and where the highest percentage of closed sales were priced IN the market. I would also look at the Monday Morning BuySell Sheet to determine the price range that also has the highest percentage of new pendings.

Lead Generation 36:12:3...Insights and Successes

Kirk Rau (Keller Williams Realty Puyallup) — Thu, 24 Jan 2008 02:19:44 -0600

Keller Williams Realty Olympia rolled out Lead Generation 36:12:3 on Tuesday January 22, 2008.
Today was Power Session One.
I will attempt to drive the attendees of 36:12:3 here to share AHA's, new-found insights, and successes that they take away from class, and probably more importantly, what they bring back to class after applying what they have learned.
It is my hope that this journey of discovery and application, for these agents, will be chronicled here. It is my intention also that, for some, blogging their AHA's, new-found insights and successes will improve the retention and application.
About 98% of EVERYTHING in the above paragraph were the ideas of Cat Morris. She is in this session.
So, if you are in class now, please share. And if you are visiting, please feel free to return often.