The Glidden's Blog

Virtual Tours As Glorified Still Life

Mon, 18 Feb 2008 23:32:01 -0600

Listing...check. Pictures...check. Soap box...check. Ok, ok, so I've got a beef I find necessary to share here. Not that I just want to blow off steam and waste the time of my fellow AR bloggers, but because I really want your opinion. Am I being to cynical about this?

I love virtual tours on listings. I think they can show a potential buyer a lot of detail and help one get a good view and idea of property layout, size, etc. But there is one thing bothering me about some of them.

To me, a virtual tour should be just that...a tour, a guided journey, in sequence through the property. When they are done right they look great and really add value to the listing. After all, isn't that the point of spending the time and money to include one in our marketing?

Correct me if I'm wrong, but isn't the point of this tool to provide some level of motion? Now, I'm not saying it has to be full motion video shot by a hollywood film crew and directed by Martin Scorsese, but there are some of these "tours" that are using still photographs and simply moving them from side to side. That's not a virtual tour, it's still life with an attitude.

Some companies do use true full motion, shot with an actual video camera. But, I know most virtual tours use still pictures that are stitched together to create the illusion of motion. While it's not really motion, it does give you a feel for the panoramic view of the property. Why spend the time and money to produce a virtual tour, and simply use still pictures and bounce them around the screen like a ball on steroids? The idea of a tour is to enhance, give exceptional views, and provide the viewer with the feeling they are at the property is it not? I know these still picture type "tours" are easy and cheap to create, but I think it shows in the end result.

I'd love to know your thoughts. Am I missing something here?

Keep What You Have

Mon, 18 Feb 2008 00:40:49 -0600

If you are anything like me, all of your business data is stored on your computer (if not, get it there!). Don't store it on an office network or other computer that you don't own.

I store everything...CMA's, pictures, correspondence, net sheets, cost sheets, marketing, just listed cards, flyers, mileage records, business expenses...everything. Now, what would happen if your computer crashed, got stolen, got a fatal virus, etc? Could you rebuild all of that data?

Well, here's a friendly tip...back up your computer on a regular basis. Do this at least once a week, but daily is better. Write it in your day planner if necessary, but do a regular backup. With the technology today, backups are easy, fast and cheap. If you have a computer with a USB port (most do), get yourself a flash drive. A flash drive is an electronic hard drive that plugs into your USB port, and are the size of a pack of gum or smaller. If you are unfamiliar with these, anybody at a computer store can help you. But, make sure you get one with enough space on it. I have one that is 8 gigabytes, and I did have to buy it online as it was impossible to find one that size at a store. I need a large capacity drive because of the immense amount of data I have. Mine cost me about $80, and it is large enough and re-usable.

If you have ever suffered a system crash and lost your data, you know how destructive it can be. I can perform a total backup in about 25 minutes, so there is no excuse for not doing it. Do yourself a favor a make this a daily habit. Your business could depend on it.

Striving For Total Automation

Sun, 17 Feb 2008 23:46:55 -0600

We all know how competitive this business is. We are always looking for the leg up on our competition. But when it really comes down to it, it's about service not who has the latest gadget, biggest advertisment or best looking business card.

With that said, we sometimes forget how inter-twined service and automation are. Automation does not guarantee service, and service does not guarantee technology. But, they can (and should be) a symbiotic relationship. I have a long history in the technology field. I used to write software for a living. While I have not employed any real software development into my business, I do try to automate things when and where I can. I hate doing things twice. I hate re-inventing the wheel. And, I hate my writing when I'm in a rush (and it seems this business lives on being in a rush!).

So, I have many things that I have automated. I've got a Seller's Net Sheet that does all the work for me. I simply type in the projected sales price, the owners loan balance and their interest rate, and the work is done for me. It calculates Title Insurance, Escrow Fees, you name it. There is even a signature line where the client can acknowledge receiving a copy. It literally takes me 30 seconds to create and print. And the best part...it's stored on my computer so I always have reference to it should I need to change it (not to mention that I don't have to use my handwriting).

I've done the same for a Buyer's Cost Sheet. Again, type in a few numbers and like magic...the costs are all calculated for me.

Then, I have a Property Tax Estimator that works the same way.

All of these are done in Excel. The best thing is that they look professional, always look the same, are easy to create, store, email, what have you. Of course there is a disclaimer at the bottom that states that the numbers are estimates and subject to change, etc., etc., etc. But, I have found that they are very accurate.

So, how does this tie into service? Well, not only can I produce these things quickly, consistantly, and accurately for my clients (which saves me time that I can dedicate to other aspects of their transaction), but it keeps me organized which always helps me serve my clients.

I'm always looking for something I can automate. I use these as a standard part of my files. Other things I use in an automated way are my communication logs, fax cover sheets, price trending. Basically anything that has numbers on it.

If you are interested in saving time, pull out Excel and give it a try. I'd love to know the kind of things you use to help you automate your business.

Let's Service What We Have

Sun, 17 Feb 2008 19:27:44 -0600

I did an Open House today, and several agents came in. One of them was rather new to the business and we got talking.

The home I had open is very nice. Nicely upgraded, well maintained, and in a very good neighborhood. What's better...it's even priced right. This one new agent remarked that he would like to have a few new listings. In my area, the listings are everywhere and things are selling very slowly. So his comment made me wonder why he didn't have a listing. We all have listings.

I asked him about this, and why he didn't have many (or any) listings. That's when he told me that he had plenty, it's just that none are selling. Hmmmm.

Since this was a Sunday afternoon, and he was at my open house, I asked him why he wasn't holding one of his listings open. "Open houses don't sell houses" he told me. While he is statistically right, my opinion is that anything I can do to increase exposure is what I will do.

I then proceeded to ask him some other questions. Basic things:

Do you have virtual tours on his listings. "No, they are too expensive."

Have you advertised them in the paper or home seller magazines? "No, that's not where the buyer's come from."

Have you farmed your area with information about your listings? "No, what does it provide to tell a neighbor about another neighbors home?"

If you've got listings, what makes you think another one will make a difference? "It's all in the numbers. The more I have, the better chance I have that one will sell."

What have you done to market your listings? "Well, they've been in the MLS for weeks now...with pictures."

This Q & A session went on for several minutes, and each response from him was negative. Now I was intrigued, and puzzled. I sat him down and asked him if I could be direct with him. He agreed. It was obvious to me that this gentleman didn't know what he needed to do to sell a home. It turns out that he started in this business a few years ago when the market was different. At that time, you hung a sign in the yard, drove to the office to pick up offers, drove back to the client to present, and then drove back to escrow to open! (that's tounge in cheek, but you get the idea). I then shared that while everything is moving slowly you must do everything in your power to get a listing sold. And, it's not a numbers game, it's a relationship game. I gave him a sample of all the advertising and marketing I do, which can be quite expensive, but is the cost of doing business. I told him that the market was different than when he started (which he knew), and that you must work the market you are in. He stayed and watched as I worked the clients that came into my listing. I also turned him to AR and asked him if I could share this story with the AR community. Yeah, he just didn't want his name used, which is fine.

By the time I was done, he had a new lease on things. I think this is true for a lot of us. We tend to get lured into the idea that our listings will sell if we just sit back and wait. But, this is not the case and we all know it at some deep level. It takes a lot of work, money and networking to get our job done during this slow market. Part of the truth of this business is that it takes more money to sell a home in times when we have less money to work with. Now, what was that about a rainy day?

Warning...May Contain Bedrooms (Or: Disclosure May Be Important)

Sun, 17 Feb 2008 18:46:45 -0600

We all know how vital disclosure is in this business. We must tell a buyer everything that we consider to be materially significant. Sometimes our industry goes too far, sometimes not far enough. It got me thinking about other industries and things they must disclose. Here are just some of the disclosures I've seen on products (yes, these are all real).

On the back label of a jar of peanuts: Warning...may contain peanuts

On an automobile window sun shield: Warning, remove before driving

On a hair dryer: Warning, do not use in the bathtub

On a prescription bottle of sleeping pills: Warning, may cause drowsiness

On the package for a magnifying glass: Warning...objects may appear larger than normal

On a paper cup containing coffee: Warning, contents may be hot

No doubt that disclosure is important, but how far do you take it? What may be important to one person may mean nothing to someone else. I guess that's why our contracts and disclosures expand as fast as they do, someone always has a new thing that they feel the public must be protected from. What ever happened to "caveat emptor?" (let the buyer beware). Don't get me wrong, I think disclosure is a necessary evil, but do I really need to be told that my peanuts may contain peanuts? Or that my prescription sleep aid may cause drowsiness? Maybe we just need someone else to think for us.

These are just a few of the apparently comical things I have seen on products. No doubt they are due to previous lawsuits filed by consumers who have little common sense. The next thing you know, we'll have one on our listings...Warning, home may be for sale.

How To Reduce Spam and Viruses

Fri, 15 Feb 2008 13:50:34 -0600

If you will notice, I titled this blog "How To Reduce Spam and Viruses", not "How To Eliminate Spam and Viruses". The only way to eliminate spam is to (get this)...never use email again. That's not an option for any of us, so our best bet is to reduce it as much as possible. Most viruses are spread through spam. So, by reducing spam, we reduce our chance of being infected. The easiest way to not become infected (and a technique I read all over) is to simply not open an email from someone we don't know. But that is simply not feasible, and I'll give you an example why.

A few years back, I was working for a large corporation in New York City. I received an email from the company President with the subject "I Love You". Now, this man was a character, and it was just like him to send an email like that, so I opened it thinking it was a funny correspondence...it wasn't. In fact, it never originated at our company, but at a hackers location somewhere in Malaysia. It was a virus that propagated itself by reading each person's address book, and sending a copy of itself to each person in the address book. It took a matter of seconds (yes seconds) to completely bring our company's online activities down (and it took us 3 days to recover). Additionally, this email virus went around the world billions of times in a matter of minutes. A recent episode of Modern Marvels stated that in 2007, there were 2,000,000 (2 million) emails sent every minute. And of those, 70% were spam!

To put that into perspective, consider the following:

That would be 735,840,000,000 spam emails per year (that's 735 billion), or 23,334 per second. If each spam email was the thickness of a piece of paper, a years worth of spam would be 11613.6 miles high (that's the distance from Los Angeles to New York 5 times). At 60 miles per hour, it would take 193 hours (or 8 straight days) just to drive past each spam message generated last year. And, as the Internet gets more popular, we can expect this number to go up, and up, and UP!

Clearly, we need to protect ourselves from this repulsive threat. Here's how you can help yourself. First, give your email address out only to people that need to know it. Yes, give it to clients, put it on your marketing pieces, etc. But never, and I mean NEVER put it online unless absolutely necessary. Some places, such as the MLS, require our email address (at least the board I belong to does), so completely eliminating online email addresses is impossible. But, I restrict it to that. I use a phony email address if I must. When I register software, buy things online, or use other online products or services, I am quite often asked for an email address. Some times this is just so the company can contact me with "special offers" (read SPAM) later on. However, many times they send me a confirmation code or other vital piece of information that I must retrieve, so I can't just type in a non-existent email address. In these cases, I use a dummy email that can be created on Yahoo, gMail, or other free service. I keep an email account just for such times that I need it, but something I don't otherwise check and would have no reason to open emails sent to that address. I know, simply by definition, that any email sent there is spam, and potentially dangerous. Every so often, I delete every message there (without opening them) just to keep the account clean for the times I need it. The Internet contains spiders (programs that automatically search the web) to strip email addresses off online documents. So, if your email address is out there, it will be found, and you will receive ads for online prescription drugs, porn, you name it. If you must put your email address in a document, disquise it. How? Simple. Let's say your email address is MyEmail@FreeService.com. You can put that online as "My Email @ Free Service.com" and instruct the reader to remove the spaces when using it. That way, the Internet spiders and creapy crawlers can't automate it, but the reader can still use it.

The message here is simple...create a dummy email to give out and use online (read for spam creators). Use your business email for just that...business reasons.

To Price Or Not To Price

Wed, 13 Feb 2008 14:56:11 -0600

When you create flyers or other marketing materials for your listings, do you include the price of the home? There are several schools of thought on this, and everyone has their opinion. Allow me to give you mine, and I'd love to hear yours as well and the reasons you believe as you do.

I support putting the price on my flyers. Many agents say "if you omit the price, it will give the prospect a reason to call." While that may be true, I also believe that it can annoy the consumer, as they are not stupid, and know why the price is being left off. There are far better things I can do to get the consumer to call me. And, with the plethora of information online, it's not hard for the buyer to find the price anyway. I believe ommiting information is annoying (maybe because that's how I feel when I'm in the consumer's shoes).

I have produced material both ways, and don't find that the quantity of calls (and certainly not the quality of them) goes up when the price is not there.

What do you think?

New Group For The Community

Tue, 12 Feb 2008 12:55:50 -0600

Okay, I'm new to this "Group" thing, but think it's a great tool. I've created a new group that is all about "Open Houses". What do you do before, during, and after an open house to make it successful. Do you have a funny story? Do you need help figuring out what to do or say during an open house? What are your pet peaves about them?

If it involves an open house, please post it here. The address of the group is:

http://activerain.com/groups/OpenHouses

Property Slide Show

Tue, 12 Feb 2008 12:39:48 -0600

Thanks to Donald Bradbury, REALTOR Bucks County PA for the PhotoBucket idea. It's a great tool.
11776 Mt. Sterling Ct, Rancho Cucamonga, Ca
Listed at $395,000
Do you want it all? Start with the location...above the 210 freeway in the desired Vintage Highlands. Next, the beautiful front planter with lighted landscaping with sego palms draws you in and welcomes you. Through the double door entry you'll find newer carpet (Nov 2007), granite counters in the kitchen and all bathrooms, gorgeous brick fireplace with oak mantel, recessed lighting, indoor laundry, six panel doors, sliding shutter doors, mirrored Master wardrobe and tiled Master tub/shower. The kitchen features a large window box overlooking the secluded back yard. Out back, you will enjoy the fountain and spa and the utmost in privacy. Even the refrigerator, washer, and dryer are included! This 3 bedroom 2.5 bath home has had immaculate care and needs nothing except a new owner. Shorten your search and put this home first on your list.

Marketing vs. Advertising

Tue, 12 Feb 2008 12:12:07 -0600

These two terms are often used interchangeably. But, they have significantly different meanings.

American Heritage Dictionary defines Marketing as:

"The commercial functions involved in transferring goods from producer to consumer"

Whereas Advertising is defined as:

"To announce or praise (a product, service, etc.) in some public medium of communication in order to induce people to buy or use it"

I once had an economics teacher that to used to harp on the difference between these two terms. So what? Who cares? When we speak, don't we inherently understand what the other party is trying to communicate to us? Well, yes and no. I will admit, I'm a bit of an "English Police". I hate it when someone butchers the language verbally or in print, so keep that in mind as you read this post. But my feelings are this...if you misuse the language, it can make you appear uneducated. If you appear uneducated, it can diminish the trust between you and your client. So, it's my goal to always speak and write in a manner that makes me sound the best.

Let's not confuse these two terms when talking to our client or in producing promotional products for our business. In Real Estate we market ourselves or our services, but we advertise our listings.

What Are You Thinking?

Mon, 11 Feb 2008 23:39:01 -0600

Okay, this is my last blog entry for the night. So, let's end it on a note that is sour, and will leave you shaking your head.

A few weeks ago, my wife was working the updesk. Someone called and wanted to see a home that was listed in our office, but was not my wife's (or my) listing. So, she proceeded to look the details of the home up on the computer.

The property was vacant, so showing it was no problem. She gave the caller the basic information about the home and set the time to show the house (within the next 30 minutes). As my wife began to qualify the caller, the caller identifies herself as a agent as well. My wife was furious, but the story gets more astounding. The agent on the other end of the phone still wanted my wife to drive out and open the property up...talk about nerve. But here's the sad part...the property had a combo lock box on it.

It would be one thing (still annoying) if the other agent didn't have her key to open the lockbox, and it was one of my listings. But to require a non-listing agent to come open a property with a lock box is just stupid. Don't mis-understand...the other agent was fully aware of the facts. She was just too lazy to do this herself. When my wife inquired (out of shear curiosity) as to why, the other agent could offer no defense except she wanted help opening the house.

Now, in retrospect, I wonder if this was someone trying to set my wife up and lure her into a dangerous situation. If so, talk about your stupid criminals.

Sometimes I wonder

Mon, 11 Feb 2008 23:16:04 -0600

Again, the following is a true story that happened to me about 4 years ago.

A Long Time Ago In An Office Close Close By....AGENT WARS!

I was working the updesk one evening when I got a call about a condo in a neighboring town. It was not next door, but close enough that I would show the property if the caller wanted to see it. The conversation went something like this:

ME: "Thank you for choosing Coldwell Banker. This is Keith, how may I help you?"

CALLER: "I saw a condo online and would like some information about it."

ME: "Great. Who am I speaking to?"

CALLER: "My name is Robert" (I've changed his name)

ME: "Okay Robert, I'd be glad to help you. Do you have the address of the property?"

CALLER: "Yeah, it's 1234 Main St."

ME: "Thanks Robert, give me just a moment. Okay Robert, that is a 3 bedroom 2 bath condo but I'm afraid that property has gone into escrow. Can I help you find something similar?"

CALLER: "Sure! What was the asking price?"

ME: "That property was listed at $187,000. Is that in your price range for a home?"

CALLER: "Yes, anything between $175,000 to $205,000"

ME: "Okay, now, that property is located in Anytown. Were you interested specifically in Anytown, or would you be willing to look in other surrounding cities?"

CALLER: "Anywhere in the general area would be fine."

ME: "Great. Now, with property selling so quickly in our market, it's important that you be pre-qualified before you go shopping. This way the seller knows you are serious, and you know exactly what you can spend so you don't fall in love with a property that is outside your comfort zone. Would it be okay if I had a lender call you so we can find out exactly what you can spend?"

CALLER: "Oh, I'm an agent looking for property for my client."

I was dumb-founded. This man actually wanted me to research property for him so he could show a buyer. I asked him if he was serious, and actually thought I was going to do his job for him. He told me "yes" that would be nice. I slammed the phone down so hard I almost hurt my hand.

I Got Out Of There FAST!

Mon, 11 Feb 2008 22:59:05 -0600

The following is a true story that actually happened to me....

Okay, it was my first month in Real Estate. I was hungry and ignorant, and...I was working the updesk. I got a call from a buyer who wanted some information on a home, which I gladly provided. This man wanted to see the house that afternoon. I informed him that it was an apppointment only listing, told him I would secure the appointment, and got his phone number so I could confirm. At that time he informed me that he had just come into some money, and needed to invest it in real estate. This seemed too good to be true (guess what?). Did I clarify his income, how much money he had come into, or other "prequal" info? No.

I called the listing agent, who called the home owner, and got me an appointment about 90 minutes out. I called my new client with the good news. My first red flag should have come right then and there when he asked me to pick him up. It never dawned on me that if he didn't have money for a car, how could he have money for a home? I got his address, consulted the map, and headed off to pick him up.

When I got to his house, I found it was in a very bad part of town, known for the crime rate. Now, I don't dress like I come off the pages of GQ magazine, but I felt very out of place as I approached the door. Hesitantly, I knocked.

What answered the door was a man who looked like a bad nightmare. Unkempt, smelly, and a command of the English language on the level of a true "red-neck" I was now actually scared. He invited me in and offered me a seat. The entire home smelled like it came out of the wrong end of a cat. I declined, and decided to stand. He said we could go "as soon as my friend Buba gets here...he owe me money". The word "money" came out more like "monna". I thought I was being set up.

In the mean time, he began to volunteer the financial information about the money he had "come into". I am not joking when I tell you it was a stack (abount 4 inches thick) of Publishers Clearing House type mailers and other mail scams. This was the source of the money he wanted to invest! "This ones worth $40,000. All I have to do is send in $20 processing fee..." was what he told me. He went through each and every item (there were about 15) detailing everything he had to do to get his money.

He turned out to be a harmless soul who I just think wanted some company. Fortunately, my wife (also an agent) called me to check on me (we do that to keep an eye on each other when we meet new people), and I was able to make it sould like I was talking to the listing agent of the home we were to see. I made it sound like the appointment got canceled, without my "buyer" being alerted to the wiser.

If you've ever watched cartoons where they leave a smoke trail behind them when they leave somewhere quick, you have some idea of what it looked like when I made my exidous.

Job Interview Within The Job

Mon, 11 Feb 2008 22:02:52 -0600

There are many tasks that we do on a daily basis and never consider the possible ramifications. Take an Open House as an example. Many agents hold an Open House with the primary desire to find other clients. This is a long time technique to try to drive clients to us instead of having to find them.

However, how many of us bother to invite the surrounding neighbors to the Open House? Not many. But, it's an easy way to promote ourselves. It tells the neighbor something...that you are a hard working agent, and will get the word out about MY house if I sell.

Personally, I love to have neighbors come into my Open Houses. Many agents (albiet new ones) I talk to say "it's a waste of time to have a neighbor come in...they're not going to buy the house!" While that is true, they may someday want to LIST their home. Whenever a neighbor comes in, or if someone calls on a flyer or other piece of marketing, I consider it to be a job interview. If I treat a neighbor poorly, not only will they never list with me, but they will tell my client about my poor performance. Everytime we open our mouths we should see it as a job interview.

I was out inviting neighbors to an Open House in my first month of being an agent, because I was told by my Broker that I had to. It seemed like a time-wasting chore to me. One neighbor actually yelled at me telling me it was stupid for doing this..."I'm not going to buy a house in my own neighborhood!" she snapped at me. I was taken aback, and didn't know how to respond. I wanted to smack her (I refrained). I've learned the hard way to spend the time (and the money) to work the neighborhood. I had one listing where a neighbor DID buy my listing DURING my Open House (ha ha on the nasty lady). Moreover, one of my farm areas became my farm simply from the fact that I have had the majority of the listings over the past 4 years. Why? Because I have treated the neighbors as valued members of my business.

People have BIG mouths. If the neighbors know about a house for sale, know (or at least have met) the agent, and know some basic information about the house, they tell others. It's a cheap way of marketing as well!

Write Offs And Business Expenses

Mon, 11 Feb 2008 21:27:54 -0600

Do you write off every expense you can? Many people don't because they think it's too difficult. Trust me, it's easier than you think.

I created a list of categories that I spend money on for my business. These are things like listing supplies (signs, lock boxes, flyer boxes, etc.), advertising (virtual tours, flyers, etc.), office supplies (paper, pens, ink cartridges, etc.). I have about 14 different categories. Talk to your accountant about what kind of things you can write off.

I then created an Excel spreadsheet that I use to track each expense. I sort them by date and category, and then assign a number to each receipt (that allows me to find it easily if I need it). I can tell at a glance how much I spent on each category by month, or for the entire year. Keep every receipt. If the receipt was printed on a thermo printer, make a photocopy of if (they tend to fade over time), and staple the original to the copy. File them in a cabinet.

My accountant loves me. He has told me that he loves doing my returns since his work in minimal with all the "pre-work" I have done. It's not hard, nor is it a task. It's a business decision and a mind set that saves me alot of money each year.

Cheap Marketing

Mon, 11 Feb 2008 21:15:43 -0600

One way we market property that is also inexpensive is to produce a business card size marketing piece about the property. On the front is a picture of the home, some basic home information, and our contact information. On the back is detailed info about the house, web advertising, email address, etc. We produce these for each of our listings. It's a very easy way to market the home to other agents, clients, prospects, etc. It is easier than carrying flyers around for each home as they fit in my business card holder that is always in my pocket. It also makes a great impression on the client.

Bla, Bla, Blog

Mon, 11 Feb 2008 19:22:03 -0600

Blogging can be an enjoyable thing to do when you have time, but should you schedule time and do it consistantly? I once saw a sample time planner that gave a list of things to do in a slowing market, and one of the tasks on there was to blog. What possible benefit could it have to write things? Well, let me give you my thoughts.

When you write, it benefits the reader...but wait, there's more! As a published auther of multiple books and articles, I can tell you that writing benefits the writer just as much (if not more) than it does the reader. Yes, you learn when you write. It makes you think, helps you organize your thoughts and you actually learn from the task.

What should you write about? ANYTHING! While this site is for Real Estate professionals, and should focus on Real Estate things, it's okay to write humor, poetry, brain teasers, rants and raves, or anything you like. The only consideration is, will it make sense to someone else? If so, write away right away! At the very least, it helps sharpen your brain. I've written several things that I originally thought were just to get something off my chest, only to find that it touched someone else in a way I never would have imagined.

Blog away. But like anything else, don't focus soley on it (of course). Make it a part of your day...everyday. Read others blog entries and respond to them as well. Be a part of the process in every way, and by all means, let your clients know that you are commited to this activity. It lets them know that you enjoy your job, and have something to offer others in the industry.

Closing Gifts...What's Your Take?

Mon, 11 Feb 2008 18:59:46 -0600

When you close a transaction, do you give your client a closing gift? If not, you should. It is a great way to say "thank you" for the sale, and it's just good business. But, what do you get them? I remember when I was first starting off in this business. I'd buy things like cleaning products and other things that might make the move a little smoother. But, I quickly abandoned those ideas for better ones. In addition to saying "thank you", the closing gift should do something else...help the client remember you long after the transaction ends. So, during the transaction, keep your eyes and ears open for things that may mean something to the client. For example, one particular client was into fishing, and his wife into home decorating. So, we sent them a year's subscription to a fishing magazine and a decorating magazine. But, we didn't stop there. We also purchased a subscription to magazines that their children were interested in. It makes a great impression when you remember the kids! Each month, they thought of us 4 times - when the magazines arrived.

It's not always easy to find a gift that is meaningful to the client but consider it one of your jobs. These custom touches make a difference over the gift that is "nice" but has no special meaning to the homeowner.

Short Sales Are Not (Necessarily) A Panacea

Mon, 11 Feb 2008 16:31:24 -0600

I don't know about you, but I have had a plethora of homeowners recently contact me and want to do a short sale with their property. While short sales can be a life saving option for the right client, most homeowners who are familiar with the term don't fully understand its full ramifications.

A short sale is intended for homeowners who are in financial distress and/or where the property may fall into foreclosure. Why is it that some agents continue to take listings and price them as a short sale, when the motivating factors for the seller are things like, "I want to move out of the area/state", "I want to downsize", "I want a single story", etc? Just say NO! If your client is in financial hardship (and can prove it - which most banks will require) then the short sale may be the way to go.

It's no wonder those of us with legitimate short sales are having trouble getting approval from the lien holders. The banks are so busy trying to sort through all the offers on properties that are not genuine short sales.

How do you get (and stay) organized?

Sat, 09 Feb 2008 13:51:39 -0600

Organization in this or any business is critical. And, with so many devices on the market that help us get organized, it can be a little overwhelming to choose, learn, and commit to one (or more). I firmly believe that the gadget industry is there only to make money, and not to really "help" us. The speed at which something becomes obsolete is just unaccepable. We have phones that are organizers, cameras, and email systems. We have organizers that play music, and music players that store pictures. Then there is the Internet where we can store everything, but what do we do when we don't have online access? There is always the manual daily planner if you remember how to use an old fashion pen. But, is your daily planner filled with post-it notes as well?

I don't mind electronic gadgets, as long as they have some kind of backup system in case the Internet is unavailable, the battery dies, I have a bad signal, I've lost my operators manual, have forgotten the keystrokes, my anti-virus has expired, my hard drive crashes, my device is suddenly obsolete and no longer supported, my car won't start, I haven't remembered to update my key, or any other miriad of potential problems that happen all to often with our electronic "helpers".

Answer To The Riddle

Fri, 08 Feb 2008 23:12:00 -0600

A few days ago I posted this riddle:

You are holding two coins that total 30 cents. One of them is not a nickel. How is this possible, and what are the coins you are holding? Both coins are from the US and are in circulation.

What's the answer? Simple...you have a quarter and a nickel. The riddle states that ONE coin is not a nickel, but says nothing about what the other one is!

We need to learn to think outside the box. This will help our clients in our marketing, advertising, and all areas in which we work!

Be A Hero To Your Clients

Wed, 06 Feb 2008 14:40:58 -0600

Let's face it, people love to save money. Better yet, when they can save money by the help or suggestion of someone else, they benefit and the suggestor benefits. With the housing market taking a decline in many areas of the country, this is our chance as agents to help our clients save some money if they bought their home when the market was higher than it is now.

One of the things that many people tend to forget about until it's due is our property taxes. They become even more forgetable if they are paid through an impound account. So, get in contact with your past clients whose homes may have lost value and suggest that they contact the county assessors office and request that a new assessment is done. If the new assessed value comes in lower than the current value, they can have their property taxes adjusted, and save some money in the long run.

Run some comps for each client before contacting them. Make sure that you can justify a lower assessed value, and have the comps ready to turn over to the client to justify the lower value. Your clients will love you for this, and think about you everytime taxes are due, keeping you in the forefront of their thoughts...which is where you want to be.

Think Ouside The Box (A Riddle)

Wed, 06 Feb 2008 14:28:43 -0600

Sometimes we have to back away from Real Estate and have a little fun. We tend to make things harder than they really are, so here's a riddle for you to help you think outside the box.

You are holding two coins that total 30 cents. One of them is not a nickel. How is this possible, and what are the coins you are holding? Both coins are from the US and are in circulation. I will post the answer to this riddle in a few days, but in the mean time, post your reply here if you think you know the answer.

What Is Wrong With The Banks?

Wed, 30 Jan 2008 22:34:30 -0600

Have lenders heard of the law of supply and demand? Can someone tell the lenders that as supply goes up, prices go down? We have a short sale that has been in the works for over 6 months now. In a 1/8th square mile area around this particular listing, there are 22 homes for sale. We've had eight offers on the property, all relatively similar, but still below list price. The lien holder did an appraisal, and surprise surprise, brought the appraisal in at 20K above list price (how I'm not quite sure). With all of the offers on the property, the loss mitigation department still refuses to take action. They will not approve the sale, and they won't reject any offer either...the silence is deafening.

While I understand that they want to minimize their losses, don't they understand the fact that if they foreclose, they will end up spending tens of thousands in legal and other fees, and still not get the price they are asking? They lose, the current owner loses, we as the listing agents lose, and the buyers lose.

The bank (who shall remain nameless but you see their "back-patting" ads during most commercial breaks) must want this home in their inventory...afterall, isn't that what they do? Take the offer, write off the loss, and move forward...otherwise it will be the lienholder that will be in trouble (oh...they already are!)

New Listing

Wed, 30 Jan 2008 18:37:50 -0600

11776 Mount Sterling Court

Rancho Cucamonga, Ca

3 Bedrooms / 2.5 Bathrooms

Listed at $395,000

Do you want it all? Start with the location...above the 210 freeway in the desired Vintage Highlands. Next, the beautiful front planter with lighted landscaping with sego palms draws you in and welcomes you. Through the double door entry you'll find newer carpet (Nov 2007), granite counters in the kitchen and all bathrooms, gorgeous brick fireplace with oak mantel, recessed lighting, indoor laundry, six panel doors, sliding shutter doors, mirrored Master wardrobe and tiled Master tub/shower. The kitchen features a large window box overlooking the secluded back yard. Out back, you will enjoy the fountain and spa and the utmost in privacy. Even the refrigerator, washer, and dryer are included! This 3 bedroom 2.5 bath home has had immaculate care and needs nothing except a new owner. Shorten your search and put this home first on your list.