Beth Butler and the Real Estate Genome

Managing Your Online Reputation

Beth Butler - EWM Realtors — Wed, 30 Jan 2008 18:53:25 -0600

In light of yesterday's lawsuit, I think that it is an appropriate time to talk about online reputation and what I think real estate blogging should include.

Real estate is a relative late comer to the blogosphere, but the concept has spread like wildfire because there is great demand for real estate information in general, particularly in a challenging market. Readers recognize that a Realtor micro-focused on a particular market can often ‘drill down' and provide information not readily available anywhere else.

I consider Real Estate Blogs to be business-focused. As Brokers, we have an established revenue model and blogging is an innovative marketing tool, not unlike listing syndication or websites. With that in mind, I consider that our focus on blogs should be to provide information.

When addressing blogging terms like transparency, advocacy and conversation initiation, my interpretation of those concepts in relationship to real estate can be summed as follows - provide truthful and accurate information without bias and overused sales terms.

I go back to the old days when the marketing mentality was to "make the phone ring." Write an ad for a listing and leave out the address and the price. The mindset was that people who wanted information would be forced to call you. Those days are long gone. It is now all about information. We have all learned that providing factual and accurate real estate information is beneficial to everyone.

People criticize newspapers for editorializing the news - editorial belongs on the editorial page, inflammatory personal opinions and observations are best left out of your posts in a business blog.

As an example, if you are posting a market stats report in a neighborhood where the inventory is climbing - there is no need for you to say "Listings are increasing at a catastrophic rate". These sensationalized statements are best left to the "bubble" blogs who are trying to gain readership so they can sell ad space. As real estate brokers, we have a business model - we would like to continue the practice of selling real estate, and if providing good information can do that, so much the better. Adding inflammatory opinion just to gain eyeballs adds ZERO to your business plan.

Now, I appreciate that many blogging purists will disagree with me. They will tell you they love to engage and create conversation through controversy. That certainly has its place in many blogs - but for me, it adds nothing to what we , as Realtors, are trying to accomplish. I would never sugarcoat anything about the market. Facts speak for themselves. If the inventory in an area is up 30% and sales down 30%, the numbers speak for themselves. We are helping no one by ‘sensationalizing' the situation...not the area, not the market, and certainly, not ourselves.

Your online reputation is not just about blogging. It is about everything you do online including where you choose to syndicate your listings, the quality and accuracy of the information on your website, your log of comments and even the selection of vendors you choose for your online marketing. Make your selections carefully, your online reputation will define your business reputation.

Active Rain Showers bring Fortunate Flowers

Beth Butler - EWM Realtors — Wed, 02 Jan 2008 22:43:23 -0600

Ok, the title is corny, but the sentiment remains.

There are many good people here in Active Rain and I have been fortunate to meet more than a few since joining in April. I am more fortunate still to have had some of these bloggers migrate over to join me at EWM.

I am pleased to announce that Vickie Acuri, Active Rain blogger, has joined EWM in the Las Olas office. Vickie called just before Christmas to let me know her broker was unfortunately closing down shop and she was looking for a new place to call home. After a good bit of interviewing around, she agreed to join us.

We feel most fortunate to have Vickie. Her enthusiasm is well evidenced in her blog and her market knowledge will soon have her leading the Northeast Broward real estate market. Just in case you may have missed her blog, it is chock full of market stats and great local information on Lighthouse Point, Pompano Beach and Deerfield Beach.

Is More Always Better?

Beth Butler - EWM Realtors — Mon, 24 Sep 2007 22:26:11 -0500

In this market of excess inventory and slow moving listings, it is not uncommon for brokers to offer a higher than usual cooperating commission to entice other agents to come and show their listings. While I certain appreciate the lure of the higher commissions, I can't help but think... who does this really benefit?

Here in Miami, as I believe the entire world must know by now, we are staring down on the delivery of about 20,000 new condos coming into an already saturated real estate market. Back a few years ago, in the height of the pre-construction speculation fever, many of these same condo buildings enticed brokers with high commissions. Unlike today, the inventory was short and many of the resale listings came at a discounted commission so broker's flocked to new construction and the big payout.

Not only would some brokers boycott projects which offered a typical commission, but they had websites showcasing only those buildings that offered the higher commissions. Now, I am all about making a living in this business, but it seems to me that maybe some of the better broker instincts, like which was actually the best building, got thrown by the wayside in a rush for the bigger bucks.

Now let me clarify, many of the agents that made money in pre-construction sales are no longer in the business. Many of them had a license and saw an opportunity - it was never really a career with many having full time jobs outside of real estate. Seeing that you could make a commission just by sending a buyer over to the sales center, there was no need to quit the day job.

With so many options, how much did the commission come into play in the buying decision? Did real estate agents actually steer buyers into an inferior purchase decision just to make an extra commission point or two?

Last week I attended the first big real estate auction of 20 developer held units of one of the first condo buildings to deliver in Miami. Eight of the units were sold in an absolute auction at prices considerably less than the units originally sold for 3 years ago. This was one of those buildings where the prices were always too high for the location and building amenities, selling at the same price as better buildings in better locations. One of the differences was the higher than usual cooperating commissions.

This may be mere coincidence, but it is certainly a correlation I will be watching as the rest of the buildings come on line.

Loving those Ruby Slippers

Beth Butler - EWM Realtors — Mon, 17 Sep 2007 22:51:31 -0500

Yes, I feel a bit like Dorothy in the Wizard of Oz. My month long journey down the yellow BLOG road has been full of twists and turns, but most of all it's been about many lessons learned.

1. Yes the blog is a bit like the Land of Oz. There is so much going on. Every day so many voices, subjects and posts - it at times can be a little overwhelming. There have been many days that I sat at my computer and thought I might never blog again - lost in the poppy field of EWM Bloggers. But now, a little more than a week from our formal release - I can see the horse of a different color... our blog is taking shape.

2. I have come a cross more than a few scarecrows. Those agents that will not blog... if they only had a brain! Their fear of the fire of technology is palpable. Scarecrows come in all shapes, sizes and age ranges. Many of the scarecrows were surprised to find that search engines will yield someone other than them on listing searches of their own inventory... you would think that in and of itself would be enough to get that blog brain going.

3. Lions and Tigers and Bears OH MY! Around week 2 the liability lion leaped out from a tree in the forest of no return. I am not one to ever underestimate the legal ramifications of the real estate business, but I really never saw this cowardly lion coming. Fear of mad bloggers writing slanderous, scandulous content seemed to be a legitimate concern with the lions, not to mention the possibility of flaming public comment! With a a little bit of time and a lot of courage - the lions eventually came along. Actually, one good look around the moderated blog and the commenting gave them the courage they needed to let us proceed without further incident.

4. I've had a lot of help along the way. Kevin has been an unbelievable Good Witch. In my darkest "blogerated out" moments, he would step in and encourage at an office meeting, write a help post or just sit beside an agent and give them a few minutes of his time to help them along. Without ruining his reputation as a snarky blog brat wicked witch - I have to tell you - blogging has made him a better person... he is a hero here in Oz - a Top Producer who wants to help the munchkins along.

5. Of course, there would be no Oz without the wizard...Behind that Tomato is a salesman extraordinare - a man on a blogging mission. On the journey people have asked - why did you pick the Tomato? My answer was simple - he understood the yellow blog road and had as much vested in our successful journey as we did. His black bag of tricks contained brains, courage a ton of heart - the perfect Wizard of our Oz.

6. Once the Wizard was gone - back in the air balloon to Sacramento where he came from ( I still hold hope that we can convince him to come back east and have him make Florida home... I know a good Realtor or 2)... I am left to ponder my journey so far and will share with you what I have learned the most... there is no place like home.

The blog is merely a reflection of your company - it will read and feel just like your company is... good, bad or indifferent. I don't want to get lost in the trappings of what kind of company you have - this is not about Traditional Brokers vs. Internet Brokers - this is more about your company culture. If you enjoy a good reputation in the community - the blog brings that back to you 10 fold. If your agents trust the broker and believe in their company... they will blog just because you tell them it is the right thing to do. If your agents enjoy working with each other - they will comment on each other's blogs and support each other in their new venture. If the agents are plugged into their markets and their communities - it will come through in the blog.

So just in case you wonder what has gotten me through 3,000 posts, 2,200 comments and teaching a few hundred agents how to blog with little sleep... I just click my heels together and say... there is no place like home. Those ruby slippers feel great as i blogerate!

My Life as a Blogerator - Real Estate IS Blogging

Beth Butler - EWM Realtors — Thu, 23 Aug 2007 21:09:49 -0500

We are off and running with the company blog! After two 10 hour launch days filled with training, tips and education I am happy to report we are up and running. We are still adding features, organizing and tweaking the site, so we are still technically in the "soft launch" phase - but my agents and staff are blogging their fingers off!

I am personally moderating each post - teaching and pointing out a few things along the way. I just finished moderating the 600th post - all of which came in over the last 48 hours. I coined the term "Blogerator" ( remember you heard it first here) which is my new night job as I teach and train bloggers through moderation.

Not only am I teaching, but I am learning. I am amazed at the new attributes I can attribute to the company that have bubbled up through blogging. So here are a few new things to add to my "Who Knew" list.

1. We have many foreign language bloggers. I knew we would get posts in spanish an many of our agents are native spanish speakers - but what I didn't know is that culturally they are inherently incredible bloggers. The spanish speaking culture is deeply rooted in story telling, so blogging just comes naturally. My spanish reading comprehension has grown exponentially and we have had to add a spanish spell check to the editor.

I was blogerating late last night and I thought I was losing it when I opened a post and didn't really understand much of what was on it. It was in Italian. I just pushed publish because I have no idea what the blog was about.

In the draft cue right now, there is a french post, a russian post and 2 portugese posts - I am a 2 language blogerator - I'm already in over my head.

2. We have some really interesting people working at EWM. We have someone offering a good affordable wine as a weekly feature. The there is someone studying the effectiveness of the Saffir-Simpson hurricane scale when it comes to construction quality. There is a Brazialian economist who wonders why the FED is lowering the discount rate. The aforementioned Italian describes that American interior designers only know about the worst Italian marble. The list goes on and on. I love my peeps, but I never knew how diverse and fascinating they can be.

3. Life on the internal blog is fun and active. My favorite part of the blog is where it resembles active rain - the "private" ramblings of the agents. The story telling, the questions they pose and how so many are commenting and sharing. Commission cutting, mortgage fraud revelations, and loving the blog are some of the favorite topics so far. I received an email from one of the agents, who was quite vocal in the classes yesterday, expressing his concern about the company image being tarnished through blogging. He had been researching and found an article to make his point. I emailed him back and told him to blog about it - and he did - the comments are running. Someone put up a post that they like the blogging thing but ask if the blog is successful that the management not dress like Star Trek anymore. (BTW, that is me as Spock - it went over big with most of the crowd)

4. The internal blog is a great way to give our vendors and department heads direct access to our agents. Today, Jeff Turner posted about Real Estate Shows. He will contribute on a regular basis as we start to introduce RES as a new company tool. Our company trainer is offering night classes in English at a mutually convenient Starbucks. I can offer regular suggestion from the Blogerator to everyone.

5. The blog is a morale booster. The South Florida market is among the worst in the nation. The excitement generated by the blog has given a huge shot of energy and excitement to many of us weary warriors. Everyone is talking about it, searching for their stuff, patting themselves on the back for learning how to upload pictures and find new ways to describe their tired listing inventory.

I could go on and on and remember I am only 2 full days into this. I am overwhelmed by the positive response and just want to say that the company blog is simply the most amazing tool for real estate since the telephone. I just got a call from one of our top producers, who has already posted 20 articles (and they are pretty darn good stuff) saying he is quitting real estate to blog. I simply told him... REAL ESTATE IS BLOGGING.

Check out our blog- which for now is hosted at blog.ewm.com - poke around, comment and have fun. Stop by often as it will change and improve everyday. I'm off to blogerate. And just in case you wonder what this blogerator thing is about...

Star Date minus 1 - Journey into the Blogosphere

Beth Butler - EWM Realtors — Mon, 20 Aug 2007 09:37:40 -0500

Captains's Log: Star Date launch minus 1 day

Our mission: To Boldly go where no Real Estate Company has gone before... An agent generated hyper local real estate blog.

We will officially launch the EWM Blog tomorrow and Wednesday. After reading Lenn Harley's post and many other similar posts and comments, it would seem that our mission here is likely to fail as most bloggers out there would tell you that the majority of real estate agents will not blog. It wasn't that long ago that I heard "Agents will never use email" and somehow we managed to get past that and some of the other technological challenges. So let me go back a few months and tell you about how we have prepared for the launch.

1. We hired Jim Cronin, Real Estate Tomato and his team to design our blog. We mirrored the Active Rain platform so posts can be public or private. The private blog will become our main communication source for the company- no more group emails or memos. The private blog is embedded in our intranet site making a hybrid site. The public log is similarly embedded in our main website. In both cases, the decision to combine the resources seemed to make sense. Internally, when someone logs into our intranet site to do a contract or submit an ad - the blog feed should serve as a reminder that subtly says "Have you blogged today?". Also, with all of our managers and staff blogging about what's going on a great archive of resources begins to emerge. We have been backloading things like training schedules, videos, how to's etc. On our main business site, it will be hard to tell where the site ends and the blog begins. Featured posts will make it to the front page - this is a big incentive for our big producers who are most anxious to dominate that page because of the traffic it gets. The blog content will also build more viewers because the site will have a continuous feed of fresh content.

2. Hedging the content bet. We have 750 agents plus 100 or so staff - so content should not be an issue. Even a relatively small amount of participation will result in a decent amount of content. I appreciate that blogging purists may see much of what many agents will write is crap - but I would beg to disagree. This is not a high brow site with intellectual ruminations (except mine of course). Local user generated content is more informational and less thought provoking. But just in case, I have made some outside deals with community newspapers, other real estate bloggers and some "authored" content just to make sure the quality level is high.

3. Creating a buzz. This is where the Star Trek stuff comes into play. We will be rolling out the blog over a 5 week period - in a contest format with a Star Trek theme. In each of the 5 weeks, we will discuss and teach 1 topic to build specific content. For example, week 1 is to blog listings. Ines Hegedus-Garcia has graciously agreed to judge the first week of entries. No, Ines does not work for our company, she is technically a competitor, but I don't see it that way. She writes good stuff, sets a standard for any agent ,and blogging should cross company lines. At the end of the day - we are all in this together, aren't we? Ines, and a few other local real estate bloggers will be contributors on our site. I have also been emailing the entire company as a lead in. Everyday some great posts to understand what blogging is all about.

4. Using PR to build the audience. We are fortunate to have a great PR firm who has been lining up interviews and articles about the blog. They will slowly be released over the term of the contest and immediately following to build some readership. We have designed a series of print ads that will run in our traditional media sources to direct readership on things like open houses, market stats, etc.

5. Share the load. I began early with our management team to get them to go in and do posts as they will carry much of the day to day burden of getting the agents to blog. I will spend a considerable amount of my time going from office to office - but everyone on the staff needs to promote the benefits of blogging.

So there you have it - the log to date. Tomorrow I will don my Spock ears and introduce Jim Cronin and his team to launch the blog.

Other thoughts on the company blog... and a cute "theme" youTube video on Star Trek and Real Estate

Why Blogging is like a Sales Meeting

Opportunity Time - Can a Company Blog Replace Floor?

Will Top Producers Blog?

Listing Syndication - Failure to Launch

Beth Butler - EWM Realtors — Tue, 14 Aug 2007 03:59:59 -0500

Some days I can't get out of my own head...you know what I mean - those days where thoughts rarely find their way to actions. So I thought I would put a call out for clarification to see what kind of opinions come back.

Our IT department has been working on a listing feed to drop to some of the more popular listing sites, you know the ones I mean - those large national databases that are not MLS/IDX driven. Many of our agents have said they are getting great traffic on their individual listings so it seemed like a good thing to pursue. So pursue we did and all systems are go, but I am having trouble giving the final launch orders. i can't help but thinking... Is Listing Syndication a Smart Move?

On the countdown for launch... here is my system diagnosis:

1. It's FREE and free is good - but for how long? Maybe I shouldn't care. But let's just say zillions of leads start pouring in and the feed just seems to good to be true until it is no longer free... then what? How much are the leads worth? Will the bill of burden be put upon the broker's lap? the agent's lap? or both? Will the cost of the most successful sites be cost prohibitive to a smaller brokerage? Are we on a doomed mission with no way back?

2. These aggregate sites are not necessarily Realtor friendly. When you move away from MLS/IDX feeds, the rules of order and honesty start to disappear - no one to call when your listing shows up as duplicate content because another broker or the owner uploaded it. No control over the content which may be anti-agent in nature. I understand consumers want more information, but who is in the control center monitoring the mission? Do they really care if you crash and burn?

3. How many sites is enough? When does it stop? I hear a lot about layering your web presence - just like ad reps used to talk about print ads. So if you believe the hype - your inventory needs to be everywhere - on every local, national and Realtor site in the country, or else you might miss someone. Are we so anxious to join the race that we are willing to jump on a ship with no guidance system?

At the risk of stirring a bit of controversy - I have to ask - is there any real value in listing syndication at the broker level - or are we all just so lured by the promise of leads and the peer pressure of new models that we are doomed to repeat the mistake we made with print ads? Are there so many unique buyers and sellers out there that we must be in every free site or are we really just layering the same listings on the same sets of eyeballs?

I can certainly see where an individual agent could see value in the time spent to load their listings every place they can and reap the rewards of any leads that come their way. But at the broker level where you are deciding for thousands of listings - I am not so sure. I can't help but think we should know better than to build someone else's business model with our inventory without knowing how much it will ultimately cost. Afterall, where would consumer's go for real estate information if these aggregate sites did not exist? Wouldn't we be better off providing better information and maximizing our own search engine content to drive traffic to our sites? But then again, I could just be lost in my own head. So give me the order - launch or scrub this mission?

Will Top Producers Blog?

Beth Butler - EWM Realtors — Thu, 09 Aug 2007 21:28:38 -0500

As part of my pitch to get our agent's on board for the upcoming company blog, I have been encouraging participation in Active Rain. To date, 170+ of our associates have taken me up on that. About 30 or so have actually posted more than one post and I get more calls and emails from people yet to post telling me how much they are learning. I am trying to find our "newbies" as soon as they come in to welcome and write some encouraging comments. I thank all of you for showing so many of our people such a warm welcome.

I have been wondering if our Top Producers would latch on to the blogging concept. It only stands to reason that they would see blogging as just one more thing to add to their already full plate. And honestly, since their attendance at sales meetings is scarce, I thought they might not even know about the blog yet.

Much to my delight and surprise, when I went to our Miami Beach sales meeting, EWM's 2006 Top Producer, Nelson Gonzalez, was there and listening intently. I must credit Kevin here, as he has been chatting up Active Rain in his office since the Project Blogger competition so they are a bit more "in tune" to blogging. Nelson asked some great questions in the meeting and really added a nice dimension to the overall conversation - his attention in the meeting made my job much easier.

Well, not only did he join Active Rain, but he put up his first post today. Nelson sells ultra-luxury waterfront homes on Miami Beach and he sold more than $60 million last year alone. His star filled client list is the envy of many Miami Beach Realtors. He knows his market like the back of his hand and is truly an "insider". He is an industry veteran and has earned his business by building a great reputation for his integrity and business acumen. He understands that he is at the top of the heap today, but won't stay there if he doesn't adapt and embrace the tools like blogging that will form the top producers of tomorrow. Besides all of that, he is also an incredibly nice guy and will be a great blogger because he is a top producer who understands the value of sharing.

So back to the title question - Will Top Producer's Blog?

My answer is an unequivocal yes... and here they are. I am looking forward to their view from the top, I know these guys will stay there.

Scott Patterson Kevin Tomlinson Nelson Gonzalez

Why Blogging is like a Sales Meeting

Beth Butler - EWM Realtors — Tue, 07 Aug 2007 08:34:43 -0500

Did you ever wonder what it would be like to stand in front of your office group and hold a sales meeting? Although you may think you have never had this experience - you probably have and just didn't know it.

I am in the process of building a company blog and have begun to post about the process here in Active Rain. At the same time I have been traveling around our 14 offices stumping the blog and what it is all about. Guess what - the comment thread on my post Opportunity Time - Can A Company Blog Replace Floor? is almost identical to the questions and comments I get in the sales meetings.

The same can be said of almost any post where you raise an issue and the comments become as important than the post itself. A good sales meeting, just like a good blog post, is led by someone who can have a thought provoking discussion about whatever topic is at hand. Participants will learn as much from the questions and comments as from the introduction that the meeting leader will provide. The better the discussion, the more people will take away from the meeting. In blogging, the comments should be just as interesting as the post itself.

Sometimes, commentary may get controversial - this is a great thing! Don't be put off by someone openly disagreeing with you - it's not personal and is an essential component of any worthwhile conversation, whether the conversation is online or in person. The questions that people raise in disagreeing can actually help further develop your own thought process- contrary to popular belief- it is good to think.

Commentary can also seem random. In sales meetings I often wonder if the person was actually sleeping or on the phone while I was giving the presentation. In blogging, it might seem like they didn't even read the post or are focusing on some minor point. Take a deep breath and respond anyway. Everyone's voice is important, no matter how "out there" it may seem. You may actually find that someone else will step in and field these comments - just like in a meeting where someone in the audience chimes in "Where have you been?"

So, the next time you are working on a post - imagine that you were going to present in person to an audience in your office meeting. What you contribute is only one part of the equation. The comments and how you handle them should be the best part of the conversation.

Opportunity Time - Can a Company Blog Replace Floor?

Beth Butler - EWM Realtors — Sun, 05 Aug 2007 00:32:28 -0500

First rule of real estate management, don't ever discuss Floor Time in a sales meeting. If you have ever stepped into this mess you know it's true. So, at the risk of stepping into a pile of controversy... do you think a company blog can be virtual floor time?

I have started writing in my other blog about building a company blog - an endeavor we are well into at this point with an August launch. Never heard of a company blog? Let me explain. In kicking around Active Rain one day, I started to contemplate why not have a company blog? We have a great website which we are always tinkering with and have been researching SEO solutions and then it hit me... what if I could get a decent number of our 750 agents to participate on a company blog?

I poked around the internet and saw some nice company blogs - but they read more like a streaming press release. Many of them looked like they were being written by a staff person - only one voice. Then, there are some great blogs with the broker and 1 or 2 agents and some outside contributors - all great stuff, but not much on local content.

My idea was to build a blog that would allow every agent to post freely. Think of an Active Rain type site for your company. (AR Gods - remember imitation is the most sincere form of compliment). Our company is not massive but big enough that there should be more than enough contributors to keep the posting current and interesting. We already have some great bloggers in our midst with Maggie Dokic and Kevin Tomlinson and who knows how many more will emerge?

Since each post will feature that agent - any lead generated will go to the agent - so, in my mind, it becomes like virtual opportunity time. The more you post, the more leads you will get. The more leads you get, the better the word spreads and more content builds the site.

You might ask why would someone who already has a good blog post on the company site? To me, this is a fundamental example of how to stand on your company's marketing shoulders. Our site has a well established track record with google, any blogger can benefit from the traffic and content that the site generates - build readership faster and gain those coveted backlinks. It is a symbiotic relationship - you scratch the company's back and it will scratch yours. Just like floor time - the more signs that are out on the street, the more often the office phone will ring - and you will be getting all of the sign calls.

I began this journey by having all of our managers join Active Rain. I am now doing the same with my agents, one office at a time. So far, I can say about 15% of the people have joined and contributed - that is actually more than I would have thought. They are already storing posts on the new site for the August launch.

Active Rain is a great training tool for the blog. So many great posts to absorb in a relatively short time. Bet you never thought you might be training agents in Florida how to do virtual floor- but you have and they are going to be great.

Active Rain Week In Review - July 23, 2007 to July 29, 2007

Beth Butler - EWM Realtors — Mon, 30 Jul 2007 02:05:12 -0500

Thank you Neil Bloom who asked me to take on the task of Active Rain Week In Review. It is a daunting task as those of you who have done it before know. This week the membership of Active Rain crossed the 40,000 member mark - so there was a lot to read- 457 pages of no ad blogs to be exact.

One of the things I like best in Active Rain is how one post leads to many others on the same related topic.

The week started off with Maggie Dokic's blog about a situation with a potential buyer in Educating-Our-Customers. It ended up being featured, but unleashed many other good posts...

Lenn Harley's - YOU DON'T HAVE TO MARRY ME, I JUST WANT TO BE YOUR ONE AND ONLY AGENT
Kevin Tomlinson's - Why I Would Buy Directly From the Listing Agent.
Suzanne Cutler chimed in with - Why I would Buy directly from the Seller!
Broker Bryant - Buyers are liars, jerks and time wasters! Or NOT!
Tony Marriott - Disarm the Bad Guys
Carmen Rivero - Converting Customers into Clients

Active Rain Launched its Referral Network... just in case you missed that - here is all the referral posts
Matt Heaton- More on the referral exchange
Becky Troutt - Anyone Notice The New "Referral Exchange" Button?
Marc Mcgee - Why The "ActiveRain Referral Exchange" Will Work
Galel Fajardo - Active Rain Headed Down a Potentially Nasty Road...
Bob Carney - Referral Exchange ALREADY Spammed!!!
Ryan Hukill - AR Gods adding bigger & better things... AGAIN?!

Listing Topics- another Great topic of the week which started with Gary Bolen's Featured Post on The Listing Presentation
and then...
Rebecca Quinones Time to Dust off Those Listing Presentations
Judi Barrett - Listening Between the Lines
Chris Elizabeth Griffith - Molly Brown Would Have Been a Listing Agent

Although not a feature this week - I think great marketing "stuff" is one of the best contributions of Active Rain...
Marketing Ideas
Suzanne Stephens - White Space is Sacred
Kim Daugherty- Throwing a Neighborhood Swim Party
Tony Gallegos - Stupid Is, Is Stupid Does - Sales Advice From Forrest Gump
Jeff Belonger - Business Card tips -- Part 2
Maggie Dokic - Image Chef Another Free Cool Tool

Just Plain Good Advice
Sondra Sheckler - How to Sleep at Night
Jean Doyle - What do you Mean I am getting Sued?
Ashley Drake Gephart - Writers Block - Ideas to help unblock it
George Tallabas - Effortless Skill - Develop it
Susie Roscoe - Good Communication Tips
Toni Ellis is off to a Great Start - Success = 90% preparation + 10% X
Margaret Woda -Legacy of an "old pro" - passing it on to another generation of real estate rookies

And last, but not least - this post from Art Blanchet summed up my week's experience
Rain on the Brain - For a Little While

Please continue to follow future and past AR Week in Reviews - all posted here.

Getting Rid of the Static Cling in Your Business

Beth Butler - EWM Realtors — Wed, 25 Jul 2007 22:25:44 -0500

Have you noticed the static cling in your business lately? Those pesty balloons stuck to you all day? The shock you get when turning on the lights of new ideas?

No idea what I am talking about? Static, by my definition, is the not so white noise that is surrounding us everyday. We all recognize the big static caused by an unfavorable “Your Real Estate Market Is Doomed” article in the paper and it follows us all day long. Everyone you encounter says “Did you see that article?” So into the office you go to call on a few expireds or write a market update post hoping someone will read your blog , when someone says “You are just wasting your time on that, let’s go to lunch?” So you think, I am hungry and off you go.

Sometimes the static is more subtle.I find this kind of static usually hovers around managers. I inquire about how their office inventory is priced and they tell me… the associates are getting price reductions - but still nothing. Most people would just rub up against this and take the clingy balloon with them - after all, it’s not a bad answer. But when I press right on through that static and ask- did you sit with your associates and do a current CMA? Is it one of the lowest priced properties? and so on… as the static balloon bursts, they are dumbfounded.

To read more.....

Foreclosures a deal - not so much

Beth Butler - EWM Realtors — Sun, 22 Jul 2007 00:00:09 -0500

Traditionally, the hunt for foreclosures would seem like a worthwhile pursuit for anyone looking to make a buck in a dreary real estate market. However, it is important to note that not all foreclosures are created equally.

Going back a few years with the rush of frenzied buyers who were getting into properties with little or no many down and many were buying with an option arm mortgage. You remember - those low 1% mortgages that sounded to good to be true. I can remember being in a sales meeting in one of our offices and asking if someone could tell me why anyone would take out this mortgage? The answer came quickly, to keep the payments low and that by the time the rate increased, the market would have gone up enough to cover the principal add on with enough room left over to cover closing costs return a good profit. In order to break even a 25% increase in sales price had to occur - anything less was a loss and anything more was a gain.

Those mortgages were a fantastic party until the rate adjusted and the negative amortization kicked in. Instead of increasing in values, the property values have stayed flat or come down. Most people who tried to refinance found that getting into another option arm was their only option. Faced with owing more than the property was worth, these foreclosures started to appear on the market. Now, tack on the cost to foreclose and you tell me - how good a deal is this?

A foreclosure deal is only as good as the price. No one should pay more for a foreclosure than for any other property - it's counter intuitive - but it is happening. Forrest Gump would call this "Stupid is as Stupid does". I would too.

Want to make a real bargain buy in a down market? read more....

Real Estate and Baseball - Are you in the game?

Beth Butler - EWM Realtors — Tue, 26 Jun 2007 21:43:28 -0500

"The one constant through all the years, Ray, has been baseball. America has rolled by like an army of steamrollers. Its been erased like a blackboard, rebuilt, and erased again. But, baseball has marked the time. This field, this game, is a part of our past, Ray. It reminds us of all that once was good, and could be again."

Terrance Mann,from the movie Field of Dreams

I love a good baseball analogy- and my favorite baseball movie is Field of Dreams. Today I am thinking about office management, so here are some tips straight from the voice from The Field of Dreams...

Build it and they will come - Think of all the preparation that goes into making a field ready for play. Look around your office- what does it say about you and your company? Is everything working and in good order? Does your office say - this is a great and productive place to work? Is the office full of activity or a place to socialize? How old are your computers? copy machines? or do you still have typewriters?? Your office decor and appearance needs to create the right first impression. If your decor and equipment is old and dated, everyone that walks in will think your company is too. Stage your office like you would stage a listing - everyday is a showing.

Ease their pain - Yes, today's market is full of pain for your agents and their clients. Like it or not, a big part of your job is to listen to the pain and then make it better. I think the coaching part of the job is sometimes lost in the listening. Especially in today's challenging market your agents and their clients are looking for your guidance and solutions. Are you working with your agents on their business plan? Are you helping them with pricing? Prospecting? Objection handling?

Go the Distance - Office management is a marathon and not a sprint, even when the hectic days leave you breathless. How many new initiatives have you launched? Make sure your day to day activities don't overtake your vision of leadership. There is no relief pitcher in management, you need to make sure you save enough good stuff for extra innings.

Some other great baseball quotes...

There is no crying in baseball - Tom Hanks in A League of Their Own

Baseball is the only field of endeavor where a man can succeed three times out of ten and be considered a good performer. ~Ted Williams

That's baseball, and it's my game. Y' know, you take your worries to the game, and you leave 'em there. You yell like crazy for your guys. It's good for your lungs, gives you a lift, and nobody calls the cops. Pretty girls, lots of 'em. ~Humphrey Bogart

Things could be worse. Suppose your errors were counted and published every day, like those of a baseball player. ~Author Unknown

Progress always involves risks. You can't steal second base and keep your foot on first. ~Frederick B. Wilcox

So, go into your office, put on your game face, ready your field and get into the game!

Affordability- How low can you go?

Beth Butler - EWM Realtors — Sun, 24 Jun 2007 22:20:17 -0500

Something has been puzzling me about the South Florida Market stats in the last few months. There is a lot of noise around town about affordable housing and yet the properties under $250,000 are still on a free fall in the wrong direction.

So after some considerable thought, here is some things to consider...

Assumption 1 - Although we are fortunate in South Florida to have a national and international second home market, there is still a good percentage of local buyers who move around and buy up or buy down within the same general area.

Assumption 2 - Incomes have not risen at the same rate as real estate prices, tax increases and property insurance costs.

Assumption 3 - If the entry level market doesn't churn - the middle market stagnates. In other words, if entry level buyers can't sell the place where they are now they can't move up in the local market, thereby causing the middle priced houses to sit as well.

With those assumptions in mind, let's go to what I call the Affordability Equation. You mortgage brokers out there will be familiar with the rationale, but the basic idea is that people can only buy what the bank will lend them based on the ratio of housing costs to income...or

mortgage payment + insurance + taxes + maintenance fees (condo only) = Affordability Equation

Ok, math lesson over, let's put some real life numbers to it...to make it simple, I am going to use an interest only loan

2 years ago... here was a typical entry level sale

Sales Price $150,000 100% financing Int Rate - 6% Tax Rate 1.5% Insurance $1 per year per thousand... so

750 + 187.50 + 125 = $1062.50

Simple qualifying - housing can be 28% of income so a buyer had to make somewhere around $45,000 +/- to qualify.

In the past 2 years prices, taxes and insurance have all gone up... so

Sales Price $175,000, 100% financing, Int Rate 6% Tax Rate 2% Insurance $2 per year per thousand ...so

875 + 290 + 290 = $1458 or $62,500 per year to qualify a whopping $17,500 per year more.

So, smart realtor that you are- you say - take that price down and get that house back to affordable... well - that still leaves the taxes and insurance increases to deal with which still means a buyer still needs to make $8,500 more now than than 2 years ago, which by the way means that income of $45,000 had to get 10% raises in each of those 2 years just to be able to keep up with the increases in taxes and insurance.

Now when you throw in the sub prime lending effect on 100% financing and it makes this picture a bit more dismal. So what needs to be done to get this market moving?

The legislature has taken a stab at cutting insurance and now taxes with little impact. So for now it's time to do the price limbo - how low can you go??? Based on my calculations, that $150,000 price needs to come down to $130,000 or so.... OR

Consider using suggesting a 2/1 rate buydown to your seller. This program "buys down" the buyer's interest rate by 2 points in the first year and 1 point in the 2nd year. The buyer qualifies on the initial lower rate. For about $4,500 (as opposed to a $20,000 price reduction), buyers making $43,000 can now qualify again.

This is a simplified example and there are many other variables to be considered, but sometimes reducing the price isn't enough to make this affordable market move. Once you get the entry level market moving, the road to market recovery is well on it's way.

Active rain has tons of great posts about buydowns - study up and talk to your sellers.

Inside the Real Estate Studio - Meet Ines Hegedus-Garcia

Beth Butler - EWM Realtors — Fri, 15 Jun 2007 20:47:47 -0500

How wonderful is Miami that we have not one but two Project Blogger Apprentices? It is my goal to meet every AR blogger in Miami so what better way to start than with our apprentices?

Ines Hegedus-Garcia is no stranger to Active Rain. Ines insists on keeping an updated picture for her business...

and was lured in by her photographer and admittedly just jumped in and started blogging. She has accumulated a lofty 125,000+ points and the fact that her comment points and blogging points are just about dead even, give you a real inside peak at Ines.

A relative newcomer to the business, Ines has achieved great success in just 4 short years in the business. Ines was an architect in her former life. Her love of architecture was challenged when her kids came along in that age old struggle of balancing motherhood with the constraints of a 9 to 5 architecture job. She and her husband both got into the real estate business while continuing to maintain a commercial contracting and management business. Ines used to offer her architectural expertise and services as a value added service for all of her clients. She quickly realized that real estate was enough value to sustain her client base.

Ines loves historic houses. Here in Miami, there is not an abundance - but enough to build a career upon - and Ines is on her way. As you can tell from many of her posts, she is into the details of an older home. As a consequence, she lives and works in an area of older homes and has found a way to work her business into her life in a way that you don't really see where one ends and the other begins, which makes for a very engaging Realtor and blogger.

I was curious as to why such an accomplished blogger would be consider apprentice worthy in the Project Blogger competition. Interestingly enough, Ines has not be able to capture business from her blog, so she entered the competition to learn about the back end workings of a blog so that she could enhance her blogging efforts to generate business. So, her partnership with Paul Chaney has been incredibly beneficial to her and her wonderful new site Miamism is sure to be a winner.

And in true Inside the Real Estate Studio form.... here are Ines' answers to those pressing questions....

What is your favorite word?
"ABSOLUTELY" - there's something about powerful words that portray certainty, I can't put my finger on it.

What is your least favorite word?

I'm still laughing at Kevin's "coupon" - but for me it's a phrase, "are you sure?" - I've always hated when anyone asks me if I'm sure

What turns you on, excites you, inspires you - physically, creatively, spiritually?

a good space.....just makes my adrenaline flow (it usually has to do with good architecture)

What turns you off?

ignorance, there's no excuse for lack of education

What sound do you love?

CLICK HERE

What sound do you hate?

bodily noises - (I know it's natural, but I am so over my kids' "bathroom humor")

What is your favorite curse word?

coño

What profession, other than yours, would you like to try?

ball room dancer

What profession would you least like to try?

If heaven exists, what would you like to hear God say when you arrive?

"Woo Hoo.....talk about a wild ride......are you sure you are ready to come in?"

Cafecito, por favor- A Taste of Miami

Beth Butler - EWM Realtors — Sat, 09 Jun 2007 23:02:24 -0500

One of the first things I do when I have out of town company, clients or guests is take them down the street to have cafecito or cuban coffee. I think of it as a caffeine social. Let me explain...

Cuban coffee can be found at a "coffee window". At many Cuban restaurants, there is a walk up window where the coffee is served. The window gathers a crowd and the socializing begins. If you frequent a window often enough, you will become familiar with the regulars. It's always a colorful crowd where discussion of world politics is mixed in with affairs of the day. The conversation is never dull and always entertaining. Business is conducted, matches are made and the world's problems solved, all while enjoying a cup of coffee.

No two experiences at the coffee window are ever the same. I was once at the coffee window, and a bus pulled up on the busy side street at a red light. The bus driver put on the flashers and jumped out of the bus. He strolled up to the window, said his hellos, got his coffee and jumped back in the bus and drove off - all before the light turned green. No one but me seemed surprised by this... I guess he was a regular!

Cuban coffee is a kind of expresso to which sugar is added, just in case the caffeine jolt is not enough. The best cafecito is made when the sugar is whipped up with a bit of the coffee to a creamy, foamy consistency called espumita and then added back to the coffee. Add a little steamed milk and your cafecito becomes a cortadito. When the cup grows a bit larger and there is more milk added, it becomes a cafe con leche. Cafe con leche is the typical breakfast coffee when served with tostada, or cuban toast.

If you are in a hurry, you can grab a "collada" to go. A collada is a large cup of cuban coffee that is sold with many smaller cups, so you can share the cafecito with a group. Whoever brings back the collada after lunch is the hero for the day. The collada is very popular with the mortgage brokers in the office who want to gather admirers and hopefully some loans.

Cafecito is cheap!... about 25% of what you would pay for a Starbucks- no dent in your retirement funds by daily stops to the coffee window. Plus, when you consider the networking that can be done at the window, the experience is truly priceless and uniquely MIAMI.

Mortgage Fraud Update- The Lien Twist

Beth Butler - EWM Realtors — Wed, 06 Jun 2007 22:24:38 -0500

Just when I thought I had heard it all, up pops the latest twist in the mortgage fraud game - The Lien.

Since there are many eyes looking for mortgage fraud in our market, the scams to deal with the cashback payoff get more and more creative. One of the first lines of defense when confronted with a mortgage fraud contract was to say " Put it on the HUD" - well, I have seen some pretty creative attempts,but today's story is the best one yet...

Contract comes in at $200,000 above list price with $250,000 going back to the buyer. On the HUD??? No problem.. buyer will record a fictitious lien for the $250,000 that needs to be paid off at closing. Can you believe that one? I just shake my head... what's next?

Anatomy of a Condo Flip - Get What's Due

Beth Butler - EWM Realtors — Wed, 30 May 2007 22:01:41 -0500

As the cranes come down and the buildings go up more and more new condo listings appear everyday. Whether you are the flipper or the real estate broker involved you want to make sure you get what's due- your payout. In order make sure the dollars make sense, here is how a new construction condo flip works.

1. Buyer Bob writes a contract for a condo pre-construction. The sales price is $300,000. Bob came to the condo with Broker Betty. Bob puts down a 20% deposit with the developer and signs a contract. The contract typically contains a paragraph that states that the condo may not be assigned, listed, advertised or in anyway resold prior to closing.

A this point you are probably scratching your head saying... what??? how can I flip my condo if the contract prohibits me... read on

2. Many other buyers join Bob in the flip frenzy and plunk down 20%. Once a sales threshold is met, typically 80% of the building sold, the developer breaks ground and some of Broker Betty's commission gets paid up front. It is important to note that construction lender is involved at this point and those funds get the building well underway.

3. Time passes, the crane is up. Buyer Bob gets a letter in the mail stating that the contract restrictions on resales have been lifted. Alleluia! Let the resales begin. Buyer Bob calls Broker Betty to put that sucker in the mls and let the profit taking begin.

4. Broker Betty, processes the listing and her clever manager asks... has Buyer Bob closed yet? If not, please get all of the paperwork from the sales office so we can understand how we can list this property. Broker Betty begrudgingly complies and finds out that only the "inside" sales office can list the resales. WAIT Broker Betty says, this is my client!!!! Evil inside sales office person says - let me fax you the fine print. The fine print reveals that the unit can be resold if, and only if, the inside sales office lists the proerty and the developer is paid an "assignment fee". Broker Betty queries the office and finds that this evil inside dealing is not always the case, but is fairly typical, and is told to ask for a referral fee. Borker Betty reluctantly turns Buyer Bob over to the lesser evil inside sales staff and agrees to the referral fee.

5. Inside sales staff markets Buyer Bob's resale and eventually affect a sale to Buyer Come Lately. Buyer Come Lately drags along his agent, Second agent Sue and Come Lately agrees to pay $400,000. A new contract is drawn between Come Lately as the buyer and the developer. Buyer Bob gets his 20% deposit refunded to him as soon as Buyer Come Lately's deposit is cleared and the rescission period is over.

6. Time passes and the building is complete- let the closings begin! Buyer Come Lately is dying to move in and is among the first to close. The closing statement shows a sales price of $400,000 and Broker Betty is the selling agent, getting paid the remainder of her commission on the sales to Buyer Bob - but there is no referral fee paid. Second Agent Sue is at the closing and leaves empty handed and confused. Buyer Bob is looking for his $100,000 profit which is also not to be found on the closing statement. In fact, the construction lender seems to have siphoned off most of the developers profit because the lender's payout is based on a $400,000 sales price and not $300,000. Buyer Bob and Second Agent Sue want to be paid.

7. Bob and Sue find out that the developer can't pay them until the bank loan is totally paid off! There are furious! Not to mention Broker Betty who will also have to wait for her referral fee. Eventually, they might all get paid, but they do have to go to the back of the bus and ride around town until everyone else gets off.

To save yourself the bus ride make sure you ask these questions....

Does the developer have the resources to "fund" resales? In other words, if there is not enough left over on a per unit basis after the bank has been paid, will the developer set aside funds to make sure you get paid at closing?

What is the assignment fee? These fees can be all over the place - typically you will see them anywhere from one half of 1% to 6% - this fee is retained by the developer for lifting the presale requirement and not making the original contract holder close twice. The higher the assignment fee, the better closing twice appears. In short, you might actually be able to save money by paying 2 sets of closing costs.

How many people have actually contracted for this unit? Some units have been sold and resold more than once - I have seen 4 or 5 filps on the same unit... more people sitting on the already crowded bus!

This is a typical scenario and will probably lead me to write a few other posts... but at least now you know how to get what's due.

Inside the Real Estate Studio - Meet Kevin Tomlinson

Beth Butler - EWM Realtors — Tue, 29 May 2007 22:07:17 -0500

One of the great benefits of my job is that I get to meet some really terrific real estate agents. Kevin Tomlinson and I were discussing blog ideas and I came up with the "interview" idea. Since we both love Inside the Actor's Studio -we have duplicated their format- blog style. I hope to be able to feature more agents over time and share some of their secrets and stories.

All of you Active Rainers know that Kevin is new blogger and is an apprentice to Ardell DellaLoggia in the Project Blogger competition. If you read his posts, you know that Kevin is a South Beach condo expert. You will also find that Kevin is good looking, a real competitor and a perfectionist. He has a great sense of humor and is a lot of fun. He never shies away from a good controversy and has no fear of confrontation.

Although his successes are many, it is worth mentioning that Kevin has been a top producer for the last five years. His annual sales volume has exceeded $30 million for 3 years running and 2007 is his best year yet!

Here are some lesser known facts about Kevin and his business....

Kevin started in the real estate business part time. His full time job was bartender at a posh South Beach night club. He specialized in the kind of customer service that involves eye contact avoidance and looking down his nose while pouring $20 drinks. He was well known for his attitude. As the market improved, Kevin came out from behind the bar for good and set his full time efforts on real estate... specifically South Beach condos.

When Kevin's boutique brokerage merged with EWM, our President often commented that Kevin didn't own a pair of long pants. Kevin was the model condo broker who did more business riding up and down the elevators of the buildings on Miami Beach's Millionaire's Row. Kevin's brain is always in rapid absorption mode and he quickly turned his sights on technology. He will tell you that he spent too much time and money on his website - but it's that site that generates the vast majority of his income. I asked Kevin "What do you use for a listing presentation?" His reply - "I don't have one- I never go on a listing presentation".... how's that for revolutionary? Yet, it's true - since most of his business comes from his website, most of his listings are emailed or faxed- the seller gleans all of their relevant info from Kevin's content rich site.

Kevin does own 2 cars - As you can see from the picture - his real estate car is a YARIS - yes, who would have thunk??? He claims it gets great gas mileage and is "valet" proof for condo showings. And yes, he does own pair of long pants - he breaks them out for special occasions - like lunch with his broker to talk about blogging.

In his spare time Kevin loves to watch TV. His favorites... Cheaters, yep and he is an authority on Law and Order. He spends 2 hours every morning at the local bagel shop, putting his day together and hatching good blog ideas.

This interview wouldn't be complete without the standard set of closing questions... so here you go....

What is your favorite word?
heinous

What is your least favorite word?
Coupon

What turns you on, excites you, inspires you - physically, creatively, spiritually?
Perfection oh and great manners! Honest but true. Everything perfect. Creatively speaking, freedom is completely fab on ALL levels. I am so not spiritual.

What turns you off?
Miami drivers. Self- absorbed people

What sound do you love?
The doink-doink from Law and Order

What sound do you hate?
Hearing people chew and smack their lips

What is your favorite curse word?
See You Next Tuesday. It is the vilest, and thus the perfect curse word!

What profession, other than yours, would you like to try?
A litigator. I think I would look great in a suit RIPPING someone to shreds on the stand; also a cashier at Target. No responsibilities.

What profession would you least like to try?
Being Naomi Campbell’s maid

If heaven exists, what would you like to hear God say when you arrive?
Hey, doll—what’s going on?

UPDATE: See Kevin's response

Experiential Marketing- What's your Real Estate Experience?

Beth Butler - EWM Realtors — Mon, 28 May 2007 19:27:08 -0500

Experiential Marketing is defined as creating a connection between you and your customer. It is interactive and tells a story that leads the audience to an intended (hopefully!) outcome.

The Hotel Industry uses experiential marketing. Have you noticed? Their print ads feature someone standing in a field in Costa Roca, a woman and her daughter standing in a rain forest- no picture of a hotel room in sight. The ads hit an emotional nerve that beckons an experience- come stay in our hotel and experience nature. The computer industry uses experiential marketing as well. The Apple commercials describe an easy, creative and fun experience that say - if you want to be hip - use an apple! expedia.com is jumping on the experience bandwagon by having added a vacation search box that asks to search by the type of vacation you are desiring. The local grocery store chain has TV commercials about the wonderful family get together around some delicious meal. Forget that your family is so dysfunctional that your family meals look more like Animal house. Reality has nothing to do with experiential marketing. It's a perceived experience - not necessarily your actual outcome.

So, now back to real estate... lets look at our tools to see what kind of experience we are selling.

Print ads - most print ads feature 2 things - a rather uninteresting picture of the front of the house - with the garage being the most dominant feature and a picture of the agent which typically bears no resemblance to their actual likeness. Look a bit closer at the words and you see things like square footage, bedrooms, bathrooms and price. You tell me, what kind of experience are we selling?

Websites - IMHO, most real estate sites are cluttered - there is a noticeable lack of focus or direction. Come to search listings? There is a map or a neighborhood list. Ever think about what the poor viewer does who is not familiar with the area??? A street map with listings is a far cry from being there. A virtual tour and a plethora of pictures start to make the experience happen, but it doesn't quite take you where you need to go.

Blogs- yes, a good blogger can take you there. I liked the Active Rain contest What Makes a House a Home. If you read these entries you start to "experience" what experiential marketing is all about. I felt like I was in these homes ... a proverbial fly on the wall watching pies being made and children at play...the authors took me there. But once you look at a property blog, the experience flattens to 2 dimensions and you are looking at a flyer- the experience has disappeared.

We need to transfer some of our personality into our tools. Every real estate agent quickly learns that showing a house is much more than pointing out the features. We understand that it is better to "set the stage" and describe what living in the property and the neighborhood is about as opposed to how old the roof is and the dimensions of the bedroom.... we know that we are better than just the information we have to provide. That is our added value it is what makes a real salesperson great.

Every property tells a story. Each time you take a listing, ask the sellers about their experiences in that house - what made their house a home. Use that information and photograph and write about it with that story in mind. Translate that experience and seek the connection with the new buyer... it will set you apart and define your real estate experience.

Please leave a GOOD Message at the Sound of the Tone

Beth Butler - EWM Realtors — Sun, 27 May 2007 10:40:49 -0500

I was reading the paper this morning and read an article about Inbox overload - declaring a new kind of 21rst century bankruptcy, not for lack of funds, but lack of time to respond to all of those incoming emails. I get overwhelmed by my inbox, but it's my office voice mail that drives me crazy. I understand that many people prefer the phone, but those most of those messages are so much less informative than emails. Here are some tips on leaving messages....

1. State your name and phone number at the beginning and end of the message. I got this tip from one of our agents - I think it is the greatest phone tip ever. The listener will never have to repeat the message in order to get the number.

2. State the reason for your call. Anymore, if someone doesn't tell me why they are calling I am not going to call them back. I used to feel it was rude not to return every call - but it's usually a sales call and if the person calling doesn't beleive in what they are selling enough to tell me what it is - I am not going to buy anything from them, but then that is just me.

3. If you need to ask a question - ask it - or answer it. Don't be mysterious. Nancy Drew need not be called in to unravel the mystery of your phone message. If you want to make an appointment, ask for it. If I left you a message and you are returning my call - say, I got your call and this is the answer. If you want me to do something, just say so.

4. Please don't say that someone asked you to call when they really didn't. This is the worst kind of name dropping. If you are trying to get rid of someone just by pushing them off to someone else, please think twice about it. I will return a call if I think someone legitimately sent the caller to me- but only if I think it is real.

5. Don't tell your life story on the recorder. I am guilty of this one. Sometimes, I go on and on about why I am calling -telling way too much for a one sided conversation. So instead, I will give highlights and say I am following up with an email with more details.

6. Leave a number where your call can be returned that makes sense. Often, people leave me 4 phone numbers depending on the time of day the call is returned. I love the one number concept - but I appreciate not everyone does that. So if you need to actually speak to the person you are calling- leave a number that you will answer. If you are just asking a question that can be answered by a return message, leave a number that has a recorder. Try to only leave one number for the caller.

I really try to return every call and email within the same day. These phone tips make that goal easier- do you have any to add?

Updating the Real Estate Vernacular... What's HOT, What's NOT

Beth Butler - EWM Realtors — Wed, 09 May 2007 08:18:37 -0500

These days everyone is looking for a fresh image, voice and a different approach. It seems the public ear has gone deaf to some of our tried and true scripted lines and we are all looking for a new way to convey some old concepts. Following is a sample to get the discussion started, please add some new ones and let's get the new real estate vernacular started.

NOT... Mr. Seller, I have looked at the comparables and I think your house is overpriced. I need to get a price reduction, so that I can advertise it this weekend as "just Reduced".

HOT.. Mr. Seller, if you will review the relevant sales information, you can see that many homes in the area have been recently repriced. The market is telling us that we need to strategically reposition your home.

SO, bring your vernacular up to date... take the "I" out of the vocabulary. The seller doesn't want to hear every sentence starting with I. Ask more questions and have the seller's answer's guide them to the natural conclusions. When you lead with "I" you are already drawing a line to be confrontational... no need to go there.

Comparables... by using the term comparable, you naturally ask the seller to answer , "my house is better and this is why". Every seller thinks their home is their castle... no sale is comparable, but there are relevant sales that should be looked at to determine price. When asking for a price reduction, don't say I think we need a price reduction... use your market studies to show where the house is positioned relative to other listed and sold properties.

These are just a few... do you have anythiing to add?

Credit DNA and the Real Estate Genome

Beth Butler - EWM Realtors — Sun, 29 Apr 2007 10:41:47 -0500

I was never the science scholar, so any scientific reference typically makes my eyes glaze over. However, this week when I first heard the term Credit DNA... I was listening.

According to Wilkipedia "the main role of DNA is the long-term storage of information and it is often compared to a set of blueprints, since DNA contains the instructions needed to construct other components...". Given that definition... this is what I understand about Credit DNA. There are internet based "credit cleaners" that offer to raise a borrower's credit score by 50 to 250 points in 30 to 90 days.

The scanario goes like this... the credit cleaner has a roster of people with good credit (750 and above) that have credit cards with high balances and good payment history. Apparently, there is no limit to the number of additional cardholders a person may have on any one account. The Credit cleaner offers a fee to the good credit person to add people as additional cardholders ( up to $500 per month). The low credit score borrower is added as an additonal cardholder to the good credit person, without having access to the card itself. Over a short period of time, the good credit score person's dna transfers to the lower credit score borrower thereby increasing the low credit score buyer's credit score and allowing that person to qualify for a prime mortgage program that was not available to them prior to the credit score increase.

Amazing? yes... Illegal? still to be determined, but I have to think someone will make this go away fast.

Meanwhile, I am ever amazed at the Real Estate Genome... which I will define as the study of real estate practices and related organisms. Everyday at my lab, we are discovering new and interesting species. I think I have found my blog voice and have renamed my blog as such.

Note: My son is studying biomedical engineering, hence my latent interest in genomes. In his time away from the books, he takes some great pictures which I like to feature in my blogs. Like them? Feel free to use them, just give him the credit... "photo by Corey Butler". Thanks.

Is Active Rain the new Realtor Association?

Beth Butler - EWM Realtors — Wed, 25 Apr 2007 13:42:03 -0500

My first week on Active Rain has been many things... fun, interesting, addicting and familiar. I can't get away from the feeling that I have done this before. No, not in another life, but in the real estate life- in the land before time and computers. Let me explain...

Back in the stone ages, long before computers in real estate, I was a lost and lonely broker searching for help and guidance. At a showing one day, someone said - go to the Real Estate Board, they have so much to offer. So off I went. I found the people warm, inviting and willing to share. I signed up for classes and learned from the best. I mingled with other realtors and other related industry professionals that may my work life more educated and fun. I joined committees and got involved and found that the more involved I got, the more I got out of my Association.

If you follow the links embedded in the blog, you will find the parrallel universe of Active Rain. The experience has already been worth so much more than the effort expended. The ability to meet, learn and mingle with other Realtors is an amazing reincarnation. As our local Associations grow bigger and more distant, how nice it is to make our world small again.

Thank you Active Rain and to all of you who have helped!