Hawaii Randy's Blog

Lead Generation Services - Not For Me

Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes) — Fri, 09 May 2008 16:27:00 -0500

I noticed In the last month or so, I have again seen an increase in activity from these companies. Daily I get calls on my cell phone and many e-mails from these services.

To keep it simple I have a policy of not paying any of these companies for leads. I have an open offer to pay a 25% referral fee at closing to anyone licensed to sell real estate. That is how I choose to do business.

Instead of paying companies to jump in line ahead of me and grab leads to sell them back to me, I choose to use the resources to generate my own leads and market my own business instead of theirs.

The ones who are becoming the most obnoxious are the ones who will not take no for an answer.

Here are a few lines I have been given:

I have a pre-approved buyer looking to purchase a $750,000 home in Kailua. I am looking for an agent who can help them.
I have an exclusive territory available, but it will be gone today.
Are you interested in growing your business?
These are guaranteed leads.
If I can show you how you can double your business, wouldn't a few thousand dollars seem cheap?
You will be guaranteed no less than so many leads a month.
I see you are a top agent in your market. We are looking for someone like you to service our clients.

I had one salesperson, who just keeps calling back. He is persistent, but will never sell me anything. At least if they are wasting their time with me, they are not ripping off someone else.

I have a few responses I like to use.

I do not believe you will do what you say.
I do not buy anything over the phone. Send me more information. (They never do).
Many times I start with "what are you selling?" If they say nothing (many do), I respond, "I only speak to salespeople" and hang up. (A variation of a Jerry Seinfeld joke)

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As a result of this blog post I received a couple of e-mails a salesman looking to solicit business from me. I will not post his name or contact information. Hie e-mail address makes it obvious which company he is with. Maybe I should post his information, since I tried his company's transaction and contact management software and was quite unhappy with their products and service.

Message #1

I like your handle. Nobody will ever forget where you're from. Back when I worked for IBM, many years ago, my handle was Typwriter Bruce. The reason for my short note today is because you were talking about lead generation on Active Rain when you threw down this challenge! :)

"I do not believe you will do what you say."

It sounds like you've been burned in the past. That's understandable. About 90% of my clients have been burned at least once. I'm an internet marketing consultant. We generate hundreds of leads every month for one of the top Century 21 brokerages in the world. We absolutely do what we say. If you have an open mind about a unique way to build your business, my clients will verify that fact for you. I will give you names and numbers of agents like yourself that you can speak with. I can help you in several ways.

Here's the catch. I would be happy to show you exactly what we do, but only if you promise that you won't talk about us on Active Rain. That's the same agreement I have with several other Active Rain posters. For our clients, we are their secret weapon behind the scenes.

Respectfully, XXXXXXXXX

Message #2

That's very good. I hope to find enough time to take those classes this year. Some of my top producers are also e-PROs. After following their success for several years, I've reached the conclusion that e-PRO training gives you a solid competitive advantage over the majority of other agents who are just not effective on the internet.

Have a great weekend!

I Can Sell Your Home in One Day

Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes) — Wed, 07 May 2008 13:23:06 -0500

Did the title get your attention? When asked by potential clients how long will it take me to sell their home; I respond I can sell your home in one day.

I am serious; I can sell any home in one day. I am very good at what I do. If you need your home sold in one day, I can do it.

OK, if you check the stats I have only sold a couple of homes in one day. So how do I get off making that comment? It is simple. There is a price I can sell your home in one day. The question for the seller is how close to that price do they want to be.

With the home properly prepared that one day price goes up. If you do not need to sell it in one day we can raise the price higher. Plug in my aggressive marketing, the price will go even higher.

Are you following the pattern?

The time it takes to sell your home is a direct reflection on how it is prepared, how it is priced and how it is marketed.

If the seller is living in the home the other factor is their tolerance for pain. How flexible will they be for showings? If an agent calls from down the street, will we let them see it, or do you require 24 or 48 hour notice? Will they keep the home in showing condition?

When meeting with sellers we need to plug their needs in the equation. What are their priorities?

Do they need to sell fast?
Is getting top dollar more important?
Do they have the resources to fix it up?
Do they have tenants and need to give them a 45 day notice or whatever is required in your community?
Are they doing a 1031 exchange?
Do they need to be there until a certain date?

So if you need to sell your home in one day on Oahu (Honolulu County), please give me a call. If you need to sell it, but have more than a day, I would be honored to build the appropriate plan for you.

Your Home is Not Selling

Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes) — Wed, 07 May 2008 03:55:22 -0500

Your home has been on the market for many days and it is just not selling.

Let's start with a few possible reasons:

Hard to show (tenants or owners who restrict showing appointments)
Dirty or in need of repairs
Dated, could use upgrading
Functional obsolescence - 5 bedrooms with only 1 bath for example.
No curb appeal - lack of landscaping, etc.
Messy or cluttered
Insufficient or ineffective marketing
Priced too high

The bottom line is that for whatever reason your price is too high. The market has rejected what you are offering at that price. Now the other items on the list may be bringing down the price, but none the less you are priced too high.

So what can you do? You can lower your price or increase the market value of your home. You can also do a combination of the two.

Increase the market value:

Paint and carpet are relatively inexpensive and will help to raise the value. If you do not replace the carpet, steam clean it.
Clean the windows.
Clean the exterior - cut the grass, pull weeds, pressure wash driveways, trim the hedges, plant some flowers.
Make all minor repairs.
De-clutter and stage the home to make it show at its best.
Improve the marketing of your home.

In a changing market the real estate agent who charges the lowest fee, may not be the cheapest. You need a professional who does superior marketing. Find out who is selling homes in the neighborhood. Notice I said selling, not listing. The agent with the most signs may be successful at getting listings, but not at selling the homes.

There are agents who do a great job of marketing themselves or offer extremely low commissions to get listings, but may not move the homes. In a changing market you need to be on top of the game to be successful. If the agent is working with lower commissions (marketing fees). How will they pay for the increased marketing required to succeed? Where will they cut the corners?

If you need open heart surgery do you look for the cheapest or the best? Do you call a plumber or a surgeon? Ok no nasty e-mails please. I know selling homes is not heart surgery, but in most cases it is even more expensive.

If you are looking to buy or sell a home on Oahu, I would be honored to be interviewed for the job.

I am Getting a Little Tired of Slick Offers

Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes) — Mon, 05 May 2008 00:30:13 -0500

I have gotten more than a couple of offers lately that are becoming annoying to say the least.

Ridiculously low
Insulting cover letters
Incomplete paperwork
Unsigned, weird contingencies
Lists of everything they think is wrong with the home (two from folks who never saw the property)
Contract forms from more than 30 years ago or from other states.
Subject to mortgage
No loan letters
Inflated prices with huge cash backs

Believe it or not I received offers on two of my properties that required the contract to be returned in person (to a PO Box) or to telegraph the offer. That is right; it was on a contract form that the best I can guess was from about 1980.

I have a large 5 bedroom house that is priced extremely competitively. I received a series of low offers on it. Two of them had long lists of everything wrong with the home and why it was only worth what they offered. One came from an agent and a buyer who had never viewed the home. The other one came from an agent who has yet to do his first transaction and is not from the area.

Two said it needed a new roof. A new 50 year roof was installed less than 2 years ago, looks great and has a warranty.
Both cover letters stated that after reviewing sale prices in the neighborhood, they felt they were offering top dollar. ($30,000 & $40,000 below the median price for the area, for the largest home for sale in the neighborhood on a larger than normal lot, in above average condition).
Both mentioned all the repairs they needed to do. (This home has been well maintained. The seller has complete records for maintenance and repairs. Is including a home warranty, a Terminix termite program, warranties on the roof and appliances. No known repairs needed at this time.

I am seeing this pattern of behavior more each month. Possibly it is because I have more listings, possibly because there are more buyers who are reading the mainland news and think the sellers are desperate here.

I have to wonder do these agents and their buyers believe I over price my listings by 20 or 25%. Are they calling me an idiot? Are they telling the seller their property is worthless? I wonder how successful they are running around insulting people's intelligence.

If you are going to waste our time at least make a reasonable effort.

Fill in an appropriate contract.
Get the required signatures.
Include a loan letter from a lender.
Leave out the insults.
If you are uninformed about the market value of the home, please do not try to fake it. The seller and their agent took a lot of time and care to arrive at the asking price.

Because I see these types of offers more and more frequently, I prepare my sellers in advance. I present all offers to my clients, but some days wish I didn't have to.

I just have to wonder if this tactic works. I can't imagine any seller jumping that low. If the seller was willing to go that low the agent could have sold it in one day or bought it themselves.

A Loan Approval from Bob?

Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes) — Sat, 03 May 2008 23:56:52 -0500

Have you ever gotten a loan approval letter from Bob's Mortgage and Hair Cutting Emporium? You think I am kidding, don't you. I did make that one up, but trust me some of the companies I have run across are just as crazy.

In the last couple of years it seems like every third person thinks they are a mortgage professional. In Hawaii to be a loan officer all you need is about $100. That will get you a license and a set of business cards.

Today I received a copy of the Governor's e-newsletter. She spoke this week to the mortgage brokers association and said she is pushing for licensing reform and is asking for their support and help.

She is asking for tighter licensing requirements. Hooray!!!

I will be one to testify at the legislature if that bill gets a hearing. I will also be speaking to my area legislator asking for her to support it.

In the past I have advocated tighter licensing for loan officers and real estate agents. We are talking about transactions for 100s of thousands of dollars. The public should be better protected than they are currently.

Just me 2 cents worth.

Mililani, Hawaii - Real Estate Sales Activity for March 2008

Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes) — Sat, 26 Apr 2008 20:01:35 -0500

This Mililani sales report covers zip code 96789 which covers both Mililani Mauka and Mililani Area (which includes Mililani Town, Launani Valley and Waipio Acres).

Mililani real estate is still moving strong. We are still seeing good real estate activity in the Mililani area. With low interest rates and some selection in the inventory, buyers are continuing to buy the home of their dreams, while sellers are seeing their properties move if priced and marketed correctly.

A few dynamics in the area:

Castle and Cooke has almost finished selling the new homes in Mililani Mauka.

We have continued to see troop movements at Schofield Barracks, helping to keep some of the inventory turning in Mililani.

Single Family Homes (resale): Average sales prices in Mililani Town and the valleys stayed consistent for the last 12 month with the pervious 12 month period, while Mililani Mauka had a very slight increase over the previous period. Year to date Sales volume in the Mililani Town and the valleys are down from the previous 12 month period, while Mililani Mauka has stayed consistent. Inventory levels have remained reasonably low; accounting for the stability in prices. Along with mortgage rates remaining low, buyers and sellers will continue to find the Mililani real estate market attractive.

Condo and Townhouses (resale): Sales volume for the last 12 month period was down from the previous 12 months in Mililani Town and the valleys while Mililani Mauka sales volume stayed consistent with the previous 12 month period. Average sales prices during the last 12 months in Mililani Mauka stayed consistent with the previous 12 months. Mililani Town and the valleys saw a slight increase in the average sales price.

Currently Active for Sale (April 26, 2008):

47 Single Family Homes - Mililani Area
43 Single Family Homes - Mililani Mauka
86 Condos/ Townhouses - Mililani Area
32 Condos/ Townhouses - Mililani Mauka

Currently in Escrow (April 26, 2008):

20 Single Family Homes - Mililani Area
23 Single Family Homes - Mililani Mauka
30 Condos/ Townhouses - Mililani Area
13 Condos/ Townhouses - Mililani Mauka

For the Month of March - Sold Resale Homes

Single Family Homes - Sold
	Number of Sales			Average Sales Price
Area	2008	2007	% Change	2008	2007	% Change
Mililani Area *(Mililani Town, Launani Valley and Waipio Acres)*	17	19	-10.53%	$597,664	$568,421	+5.14%
Mililani Mauka	14	8	+75%	$679,350	$753,125	-9.80%

12 Months - Sold Resale Homes

Single Family Homes - Sold
	Number of Sales			Average Sales Price
Area	Ending February 2008	Ending February 2007	% Change	Ending February 2008	Ending February 2007	% Change
Mililani Area *(Mililani Town, Launani Valley and Waipio Acres)*	144	178	-19.90%	$578,000	$576,340	+0.29%
Mililani Mauka	172	173	-0.06%	$705,397	$697,050	+1.20%

For the Month of March - Sold Resale Homes

Condos and Townhouses - Sold
	Number of Sales			Average Sales Price
Area	2008	2007	% Change	2008	2007	% Change
Mililani Area *(Mililani Town, Launani Valley and Waipio Acres)*	15	27	-44.44%	$310,399	$319,722	-2.92%
Mililani Mauka	10	11	-9.09%	$351,400	$346,181	+1.51%

12 Months - Sold Resale Homes

Condos and Townhouses - Sold
	Number of Sales			Average Sales Price
Area	Ending March 2008	Ending March 2007	% Change	Ending March 2008	Ending March 2007	% Change
Mililani Area *(Mililani Town, Launani Valley and Waipio Acres)*	274	350	-21.81%	$306,878	$300,846	+2.00%
Mililani Mauka	155	146	+6.16%	$342,492	$341,590	+0.26%

*These numbers were taken from the Honolulu Board of Realtors MLS system and are deemed to be accurate, but not guaranteed.

Mililani Links:

Mililani Town Association: http://www.mililanitown.org/
Mililani Drug Free: http://www.Mililanidrugfree.org/
Mililani Chess Club: http://www.mililanichess.org/
Mililani Real Estate: http://hawaiirandy.com/

Mililani Blog Posts:

March 2008 Real Estate Sales Activity for Soda Creek in Ewa Gentry

Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes) — Sat, 26 Apr 2008 18:44:50 -0500

Soda Creek is a development within the planned community of Ewa Gentry in Ewa Beach, Hawaii (makes up part of tax map key 191).

Single Family Homes (resale): While sales volume has softened a bit, average sales price have remained steady in Lombard Way compared to the previous 12 month cycle. There is a lot of new home construction in the area competing with the resale market, along with a large amount of resale inventory in the neighboring communities. Buyers will find good values in Lombard Way. Sellers may find they need aggressive marketing to move their homes quickly.

Currently Active for Sale (April 26, 2008):

11 Single Family Homes

Currently in Escrow (April 26, 2008):

5 Single Family Homes

For the Month of March - Sold Resale Homes

Single Family Homes
	Number of Sales			Average Sales Price
Area	2008	2007	% Change	2008	2007	% Change
Soda Creek	---	4	---	---	$443,750	---

12 Months - Sold Resale Homes

Single Family Homes
	Number of Sales			Average Sales Price
Area	Ending March 2008	Ending March 2007	% Change	Ending March 2008	Ending March 2007	% Change
Soda Creek	17	24	-29.17%	$446,411	$440,500	+1.34%

*These numbers were taken from the Honolulu Board of Realtors MLS system and are deemed to be accurate, but not guaranteed.

You can find out more about real estate in Hawaii at: http://www.hawaiirandy.com/

Or at: http://www.localism.com/

March 2008 Real Estate Sales Activity for Lombard Way in Ewa Gentry

Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes) — Sat, 26 Apr 2008 18:20:42 -0500

Lombard Way is a development within the planned community of Ewa Gentry in Ewa Beach, Hawaii (makes up part of tax map key 191).

Single Family Homes (resale): Sales volume for the last 12 months has shown a little bit of growth over the previous 12 month period, while average sales price has gone down almost 7% in Lombard Way. There is a lot of new home construction in the area competing with the resale market, along with a large amount of resale inventory in the neighboring communities. With the inventory levels at a low level, prices may begin to climb a little.

Currently Active for Sale (April 26, 2008):

3 Single Family Homes

Currently in Escrow (April 26, 2008):

1 Single Family Homes

For the Month of March - Sold Resale Homes

Single Family Homes
	Number of Sales			Average Sales Price
Area	2008	2007	% Change	2008	2007	% Change
Lombard Way	1	1	---	$348,000	$364,000	-4.40%

12 Months - Sold Resale Homes

Single Family Homes
	Number of Sales			Average Sales Price
Area	Ending March 2008	Ending March 2007	% Change	Ending March 2008	Ending March 2007	% Change
Lombard Way	15	11	+36.36%	$364,566	$391,272	-6.83%

*These numbers were taken from the Honolulu Board of Realtors MLS system and are deemed to be accurate, but not guaranteed.

You can find out more about real estate in Hawaii at: http://www.hawaiirandy.com/

Or at: http://www.localism.com/

March 2008 Real Estate Sales Activity for Las Brisas in Ewa Gentry

Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes) — Sat, 26 Apr 2008 18:08:20 -0500

Las Brisas is a development within the planned community of Ewa Gentry in Ewa Beach, Hawaii (makes up part of tax map key 191).

Single Family homes: Sales activity in Las Brisas has continued to be much softer in than the previous 12 month cycle. While prices have gone done slightly, the volume is down by nearly 2/3s. There is a lot of new home construction in the area competing with the resale market, along with a large amount of resale inventory in the neighboring communities. Buyers will continue to find good deals in Las Brisas with about 12 months worth of inventory, while taking advantage of low interest rates.

Currently Active for Sale (April 26, 2008):

11 Single Family Homes

Currently in Escrow (April 26, 2008):

2 Single Family Homes

For the Month of March - Sold Resale Homes

Single Family Homes
	Number of Sales			Average Sales Price
Area	2008	2007	% Change	2008	2007	% Change
Montecito/ Tuscany	1	1	---	$401,000	$450,000	-18.89%

12 Months - Sold Resale Homes

Single Family Homes
	Number of Sales			Average Sales Price
Area	Ending March 2008	Ending March 2007	% Change	Ending March 2008	Ending March 2007	% Change
Montecito/ Tuscany	11	29	-62.07	$423,272	$446,724	-5.25%

*These numbers were taken from the Honolulu Board of Realtors MLS system and are deemed to be accurate, but not guaranteed.

You can find out more about real estate in Hawaii at: http://www.hawaiirandy.com/

Or at: http://www.localism.com/

March 2008 Real Estate Sales Activity for Montecito/ Tuscany in Ewa Gentry

Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes) — Sat, 26 Apr 2008 17:47:17 -0500

Montecito/ Tuscany an Ewa Gentry planned community in Ewa Beach, Hawaii (makes up part of tax map key 191).

Single Family Homes (resale): The number of active for sale has increased from 12 to 18 since March. The average days on the market have increased. Average prices have seen some slippage in the last few months, making the community a very attractive for buyers.

Currently Active for Sale (April 26, 2008):

18 Single Family Homes

Currently in Escrow (April 26, 2008):

3 Single Family Homes

For the Month of March - Sold Resale Homes

Single Family Homes
	Number of Sales			Average Sales Price
Area	2008	2007	% Change	2008	2007	% Change
Montecito/ Tuscany	3	1	+300%	$400,666	$430,000	-6.82%

12 Months - Sold Resale Homes

Single Family Homes
	Number of Sales			Average Sales Price
	Ending March 2008	Ending March 2007	% Change	Ending March 2008	Ending March2007	% Change
Montecito/ Tuscany	20	7	+285.71%	$445,500	$469,357	-5.08%

*These numbers were taken from the Honolulu Board of Realtors MLS system and are deemed to be accurate, but not guaranteed.

You can find out more about real estate in Hawaii at: http://www.hawaiirandy.com/

Or at: http://www.localism.com/

350,000 points and 521 posts – My Business is Growing

Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes) — Thu, 24 Apr 2008 07:47:56 -0500

When I joined Active Rain I was not sure if this would be something I would be interested in. David Kucic talked me into checking it out. I shortly saw the benefit of this wonderful forum and jumped in with both feet.

In a reasonably short time I have written 521 posts and hit the 350,000 points mark. Now I know that sounds like a lot and it is. But let's look at what it takes to make that many posts.

Market reports - This something I generate for communities in my area to share with clients and to keep my knowledge of the market up. Active Rain is a great place to post them for the public. I have received many contacts as a result of my market reports.

Listings - One more way for your properties to be seen on the net. The ability to post electronic flyer and virtual tours in our posts make them so effective.

Professional behavior and ethical standards - This has been my favorite category. I have learned so much from others about their practices. I have been able to vent and discuss situations I see in the market place and get advice from some of the most knowledgeable folks in the industry. Active has also given potential buyers a chance to learn more about my business practices and has been a great vehicle for them to silently interview me. I have gotten a few great clients who found me through my blog posts about ethics and professional behavior.

Localism - Here is another wonderful thing about Active Rain. It gives you the ability to post information about the communities and pictures for people looking to relocate to the area. This serves three purposes:

It gives the public a chance to learn about the communities they are planning to move to.
It lets them know you are an area expert.
It also gives agents from other places a way of identifying agents working the community.

Search Engine Optimization - All of these posts are acting like separate websites on the internet when it comes to the search engines. We are forming a big spider web. The more posts we have the more opportunities for others to find us on the internet. Active rain has also been a terrific place to learn about building our presence. The many great folks here have written the best articles on improving your internet presence and are willing to answer questions.

Social Networking - If you have been on Active Rain for more than a few days, you probably have made many great friends already and will make many more In the future. The cool thing is we are connecting with folks who do the same thing we are doing from other places and can freely share ideas to improve our business and balance our personal lives with business. I have attended two Active Rain gatherings and had the pleasure of meeting several members in person.

I can go on for a long time here and could make it a multi-part series. Or I could try to list all of those who were influential to me here. That would make this the never ending blog. Instead I will stop here by saying:

Thank You Active Rain!!

I love this forum and hope it will continue to grow and thrive.

Westloch, Hawaii Large Perimeter Home With Many Upgrades

Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes) — Tue, 22 Apr 2008 14:17:35 -0500

http://www.westlochhome.com/

Westloch Large Perimeter Home

91-119 Aipoola Pl, Ewa Beach, HI 96706 View Map

1-Year Home Warranty

New Stainless Appliances

Upgraded Counters

New Bamboo Flooring

New Upstairs Carpet Being Installed

Large Dining & Family Areas

Bike/ Walk Trail Out Back Door

Covered Lanai

Details

Asking Price:

$685,000

MLS:

2806283

Sq. Feet:

2323

Lot Size:

4634

Bedrooms:

Bathrooms:

3.5

# of Floors:

HOA/Maintenance Fees:

$52

Garage Size:

464

Subdivision:

Westloch Fairways

Year Built:

1992

Property Amenities

Contact Info

Randy L. Prothero
Realtor, ABR, AHWD, CRS, e-PRO, GRI

Main 808-625-1776
Cell 808-384-5645
Dir 808-384-5645
Email | Website

Cathedral Point H407 - Mililani, Hawaii - 2 Bed/1 Bath Condo

Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes) — Tue, 22 Apr 2008 14:02:21 -0500

Cathedral Point H407 - Price Reduced!

95-055 Waikalani Dr. #H407, Mililani, HI 96789 View Map

Great Location, Priced to Sell Fast!

Partial Remodel in 2007 Including:
- New Kitchen Lower Cabinets
- New Counter Tops
- New Butchers Workstation
- New Carpet
- New Vanity, Mirror & Lighting
- New Washer/ Dryer
- New Refrigerator

Large Lanai

End Parking Stall #301

Convenient to Schofield and Shopping

Details

Asking Price:

$219,000

MLS:

2804248

Sq. Feet:

896

Bedrooms:

Bathrooms:

# of Floors:

HOA/Maintenance Fees:

318

Subdivision:

Melemanu

Year Built:

1972

Property Amenities

Community Amenities

Contact Info

Randy L. Prothero
Realtor, ABR, AHWD, CRS, e-PRO, GRI

Main 808-625-1776
Cell 808-384-5645
Dir 808-384-5645
Email | Website

Mililani Links:

Mililani Town Association: http://www.mililanitown.org/
Mililani Drug Free: http://www.Mililanidrugfree.org/
Mililani Chess Club: http://www.mililanichess.org/
Mililani Real Estate: http://hawaiirandy.com/

Mililani Blog Posts: