Boast about your
accomplishments; but, also, ask yourself: what does my
accomplishments do for my client?
I often
state that we were ranked in
2008 as the #2 real estate group in the city of Austin by the Austin
Business Journal. Many others throw out something similar,
such as they were number one in their office, their city....whatever.
Well that is all fine and dandy, but does the client really
care? Maybe, maybe not. It does tell them that you
are successful and that he is not hiring a bozos, but does it
really tell him what it does for them personally? I don't
think so. Perhaps it grabs their attention.....but it does
not answer the big question, what are you going to do
for me?
So
I like to break down stats community by community on
what we actually do for a client's neighbors. So I nail it
down by the community. One of the communities we farm is
called River Place on Lake Austin. In River Place I note
we have sold over 1000 homes and had, in 2008, 44% of
the listings sold. On top of that our buyer's agents
sold 23% of our own listings. This is powerful data
that tells the seller that we are not only the most dominate agent in
the neighborhood, but we actually sell a sizable
percentage of our own listings. If you are new, you can just
use your company stats until your personal stats start building up.
This tells the seller that we are not just going to throw a sign on the
property and pray that it sells. So when you start throwing data out to
clients, stop and rethink how a prospect thinks. What is in it for me? If
the stats that are thrown out do not reflect that you are by far the
best choice to use, you may want to rethink the way you format the
successes you have tailored for an individual seller or buyer.
Just a thought to end my day...........
How
often have we ALL made verbal changes, not thinking that the MINOR
change was not that big of a deal? Pretty often, eh?
Here are but a few (of too many) that have exploded on me in the past
and bit me on the rear end (and, a quote from one of my favorites,
Austin Powers: "that really hurts"). I make this very small
post to make a very big point. DON'T EVER EVER EVER make
the smallest of changes in a contract verbally, make them in writing!!!!
Though many of the same comments noted below end up totally
fine, all of the following were minor items in thought that
turned into major disasters where either one of the parties or the
agent (I won't mention any names (Oh, this is my blog.....crud...)) had
to come out of pocket with sizable amounts of money. You can
guess at the problems that arose out of each situation:
The
listing agent said the sellers said they would leave the (SILK)
curtains
The
listing agent said sellers said it was OK to close one day prior to the
agreed closing date
The
listing agent said the sellers said they would leave the refrigerator
as they don't need it in their new house
The
buyers said they would sign the buyer's rep agreement tomorrow
before we WERE to meet to write up the contract
The
buyers' agent said you can get the survey to me a day late, no biggie
The
listing agent says that the seller will send over a cleaning crew while
we are closing
The
listing agent said that the seller will give you this GOOD check to
cover the cleaning costs after closing as they could not get the house
cleaned in time
The
buyer's agent said no worries on doing a one day lease back as it is
only going to be one day
The
listing agent said the repairs were done, but the sellers forgot to get
the receipt from the air conditioning company and roofer; and he will
send them after closing.
The
listing agent said the sellers did not have time to make the touch ups
on the walls but they will leave a MATCHING color
The
listing agent said that the house was cleaned by a professional and
here is the receipt to prove that it was a professional
The
buyer's agent did not ask if the refrigerator was actually built in or
a design to look built in.
I
could go on and on and on......but the bottom line remains the same.
Never assume anything and always get the smallest items and
the smallest changes in writing. Or ignore this and learn the
hard way.......
Have
you looked back at your very first BLOG? I did today and got
a bit of a shocker from a prediction I made.
I
used to be a big time BLOGGER on AR in 2006 and 2007. In both years, I made 2
blogs. (I was really
dedicated to this blogging thing back then). This afternoon, I thought
it would be interesting to look back and see what 2 stupid things did I
post in 2006......
I guess I was not as stupid as I thought I was.......
(Few replied and the replies were not in agreement to my thoughts).
It is kinda fun and
a bit freaky to read this a few years later. I may not have
been dead on......but I was pretty darn close.
Is
the California market ready for a major correction? Yes,
based on the market data that I am tracking. If the trend
continues, 2007 will be the year that California and Arizona moves from
a slow down in the real estate economy to a panic sell period that may
last at least through mid 2008. If this does occur as
anticipated, Austin's real estate economy will thrive as the movement
is very strong from those relocating or vacating the bubble
cities. This is a sad time for the bubble cities and an
exciting time for the real estate economy of Austin, Texas.
I
have mentioned for the last couple of years that the market in the
major cities in California of San Diego, LA, San Francisco and San Jose
will see a gradual decrease in demand followed by a very strong
downturn. As typical in most downturns, the first year to
year and a half a market sees the market slow down at a reasonable
5-10% in value. This is followed by a false flattening in the
market. We have seen this flattening occur the latter part of
'06 to the early part of '07 in California. The biggest
mistake people make is to think that the correction is over,
where, in reality, the second pricing drop is eminent.
The
next stage is usually a sharp turn downwards followed by an aggressive
downturn created by seller's who have either lost jobs or their homes
are upside down with their mortgage. Here we should see an
additional 10-20 decline in values, for an estimated downturn of 30%
since the peak of the market in late '05. With many
California buyers securing 100% financing or negative amortization
financing, the down turn has the potential to be worse than many
have projected.
Only
time will tell, but my best estimate is that 2008 will the major
downturn not seen since '91 to '93. This is merely a
normal correction in a market that has exceeded the normal differential
in values from other cities in the US over the last several
decades. In reality, when you look at the past 10 years going
into the down turn through '08, the California market will
still show a very healthy increase. Those
that have bought in the past 4 years will be
affected greatly.
Having been a Californian,
I visit California 2-3 times each year, and my latest trip in July was
quite eye opening. Builders are now starting major incentive
programs not seen in over a decade. Prices are dropping as
anticipated, but not at the anticipated downturn predicted for
next year. Many buyers and their
agents are ignoring the trend and are still asking for prices
grotesquely above the current market. This
is typical of buyers that are substantially upside down with their
mortgage or purchase price within the past few
years. The prediction of a soft landing in
California is not likely.
Soft
landings are typical in the Midwest and northern US, but hard landing
are more typical in the East and West coasts. On the other
hand the East and West coasts tend to experience massive increases in
values during the boom cycle. The landing is
currently somewhat soft to moderate, but will turn to a fairly harsh
landing in the coming year. The investors have fled the
market 2 years ago and I do not anticipate their return until '09.
In
comparison to Austin over the last several decades, California has
ranged from around 1.5 to 2 times the median market value of
Austin. For the last 5 years this number has been running
from 3 to 3.5 times the Austin median market value. There
will be a combination of an increase in the Austin market with a
decrease in the California market. The long term normal
differential should even out between '08 and '09. Mortgage
program reconstruction, rising interest rates, and rising gas prices
should cause the change to happen earlier than anticipated.
Austin saw the panic sales in '01 to '03 while California was
experience incredible growth in values. Naturally, the cycles
of real estate come around; and, that is what we are all seeing.
Austin
will continue to gain substantially from the continued downfall from
the west coast markets until the equilibrium is reached once again, and
a stabilization in the Austin market will be reached at that
time. Sometime in '08 to '09 we will once again see investors
flocking back to California to buy "deals" that will be created as a
result of the California correction.
In the long run, both
California and Austin will be incredible investment arenas in
real estate as the world will not walk away from either location. Mind
you I love California with all my heart and have just put an offer on a
$2mm condominium in Coronado and am in final negotiations for
less than half the so called market price. I completely
believe that this will be back to a $3mm condo by 2010 or 2011, as
condos just like it sold 2 years ago in excess of $3mm.
This is not negative news
to California, but merely a reality of what the any cycle sees
decade after decade.
I was there to watch the fall of the summer of '90, and the
panic of '91 and '92, watching my home drop 25% in one
year. Hopefully we will not see any grand earthquakes over
the next few years, as that will fuel the downfall. Many
people are concerned of the negative news of the effects of
global warming reducing the coastline causing further downfalls in
pricing. I think that this is overly pessimistic thinking at
this time. It is a serious concern, but I do not see the
public creating a panic for at least one or two decades.
The phenomenal
effectiveness of Podcasts?
Merely Google just two communities we farm and click on
VIDEOS. It is very rare that any competition is there with
us. Well OK, I will do it for you: Below are actual
Google searches done today. Try it on BING.....I don't
care.....we are still dominate. Why? Podcasts
spider themselves through out the internet and are attached on a
multitude of other podcasts and people are easily able to link the
podcast to Itunes and have every new podcast that we have created
automatically pop up onto their Itune folder. Thus it moves
like a spider and you can't stop it!
We use an AR Member Mike Price with www.MLPODCAST.com .
We are their featured podcast on their site.
It does not matter what business you have, just make sure the key words
are words that people would typically Google, BING or whatever.
Powerful marketing tool for those that want powerful marketing
tools.......
Home
for sale in River Place
area of Austin
Texas. ...austin
texas real estate keller williams bartlett group river
place austin texas real estate
keller williams bartlett group ...
This
beautifully updated David Weekley home is ideally located in a pristine
cul-de-sac with extreme privacy benefited by the water quality area and
neighbored by only one home ...
that
follows a crystal clear meandering stream, with numerous waterfalls,
before entering Lake Austin
by River
Place's second park, Woodlands Park. River
Place's focal point ...
of
The Greens at River Place.
...Austin
real estate Gated Community Mediterranean Faux Finish Inverted
Floorplan Golf Course View Granite Kitchen River
Place and Travis ...
schools
as well as both Lake Travis and Lake Austin.
...
5 bathrooms 5 bedroom austin
real estate cul-de-sac location exercise room pool with spa river
place view of hill country.
car
garage to the left of the home, with a 2nd master suite above it.
Preliminary drawings and conceptual pictures of the kitchen expansion
are available. The existing garage ...
Home
for sale in River Place,
Austin
Texas, TopKWGroup.com ...austin
texas real estate keller williams broadcast mls listing abor home for
sale tx austin
texas real estate ...
for
sale in River Place,
please give me a call, Thanks Jeff 512.296.6970. Jeff Ellis is licensed
to do business... This video contains images of River
Place homes and ...
Home
for sale in River Place
area of Austin
Texas Watch Video about AustinTexasReal estate by Metacafecom
AustinTexasReal e KellerWilliamsBartlettGroupRiversPlaces.
Steiner
Ranch Home For Sale Austin
Texas ...Steiner Ranch
Master on Upper Level New Carpet Roof Corian Countertops Stainless
Appliances Steiner Ranch
Master on Upper Level New ...
premier
neighborhood communities offers exemplary schools, community clubhouse
and pool, hiking & jogging trails, tennis courts and new retail
centers. ...Steiner Ranch
Master .
You
will also find 3 secondary bedrooms and a game room on the 2nd level. Steiner
Ranch, one of Austin's premier
neighborhood communities offers exemplary schools, ...
to
the private backyard which has large trees, deck and covered patio.
Upstairs boasts a game room, master suite, and secondary bedroom.
Incredible community amenities includes .
lawn
to allow space for outdoor playtime for kids or pets. The gourmet
kitchen is open to the breakfast area and family room. Additional
touches such as hardwood floors, ...
between
Lake Austin
and Lake Travis. The main entrance is located at Quinlan Park Rd. and
RM620. WHY: To meet the demand for a first-time, move-up and luxury
home community in ...
Additional
touches such as hardwood floors, treyed ceilings, a media room with wet
bar, game room, wrought iron railings, 30 ft ceilings and walk-in
closets with built-ins ...
LOCATION,
LOCATION! Situated within one of the most coveted neighborhoods in Steiner
Ranch,not only is this home
located on one of the most desirable streets, it is also ...
Ranch
in Austin
Texas has new homes, resale homes, UT Golf Course, all types of real
estate, parks, schools, HeartofAustinHomes.com ...Steiner Ranch Austin
New Homes Real ...
I am so proud to be asked to speak on how to succeed in a challenging market at Spotlight Austin event this month at the Westwood Country Club with 2 other of Austin's top real estate agents. My speech will mainly focus on MINDSET of marketing a farm area, which will be a different approach that the other two speakers.
This will be an exciting event. I put a similar talk on this in Orlando FL at the Keller Williams International convention. Hopefully, I will do a bit better at this event. It will be alot of fun and look forward to seeing area agents and other real estate related businesses.
This was a great 4th of July weekend both with family....and my farm. I noted a few days ago that our little group was sponsoring our 4th of July celebration in two communities:
One was a parade of about 500 and the other was a luncheon of around 1000 people. The parade we passed out eco friendly grocery bags (with our logo on it, of course) and the other we passed out 750 ice creams to the kids (and, yes, alot of adults). We also numerous trash cans (yes, with our logo on them).
They both were a great hit and we had great exposure for our agents in both neighborhoods.
Did it take away from our family time?
No.
We actually had our families at the parade and at the luncheon. I figure why not do an event that I can also bring my family and have great family time. It is sort of like working.....but really not. We really had a lot of fun. The only "work" part of it was getting everything set up early in the morning and taking everything back to the office, but that was an hours work at most. The rest of the weekend was devoted to family time.....dinner....movie....went to a party......fireworks and all. Got an offer on a home, and a deal fell apart; so I am hoping that is a fair trade. Now Monday comes.....
So how in the world could we pull off an event this large so quick?
Coming August will be the 2nd annual Concert at the Park in Steiner Ranch in Austin Texas. In late fall we will have Holiday at the Park in Steiner Ranch. Both of these events will bring in about 2000 home owners from the community (there are about 14,000 total residents; owners and kids).
Actually the idea started 2 years ago from a casual conversation with one of the buyers of my listings at another major event which we sponsored in another neighborhood called River Place, but that one had only about 1000 residents attending.
The buyer just moved from out of town and was opening up an ice cream and coffee shop called Cups n Cones in Steiner Ranch, and thought that we both should do a similar project. We thought the best way to get the idea going was to invite all of the retail outlets to a preliminary meeting to discuss the idea at their ice cream store.
12 people showed up. I guess that would be pretty good for a concept that had no plans whatsoever. 2 hours later, a concept was determined and a second meeting set up. From that point on we decided that meeting would last 45 minutes to the max so and all parties would have to be ready with their proposals of what they were to do. It took only 3 meetings to completely coordinate an event that would attract 1500 people. By the third meeting the word got around and we had over 25 participants to sponsor the event. By the 5th meeting we were ready for showtime....
We would fund the event by each participant depositing $100 each and then have residents pay for tickets that would buy different items. For example, BBQ would be 4 tickets or $2. Ice cream, which we handed, out was 1 ticket or 50 cents. We had face painters, bouncy houses, water slides, we built a stage for a local band and karate performances (they were one of the retail establishments). A few hiccups with the generator, but all in all, a massive success. We finished the event with money left over. In reality, we did the event for free. The balance of the money was used for the next event, "Holiday at the Park".
Here we are in year two expecting a minimum of 2000 residents. We have 63.......that's SIXTY THREE participants in this events, 10 are non profit, such as the bloodmobile. Our name will be everywhere as we are providing about 50 trash cans with our names on them, passing out about 1500 ice cream cups or bars, and passing out about 500 eco friendly grocery bags. All participants will have matching T shirts with a logo of the event on the front and our personal logos on the back. It is going to be a wild ride and I will blog about it in late August.
So all you need to do is to get on the phone and call about 20 businesses in a major development to get together. When you have that many business owners with DRIVER personalities, things happen. 20 people is enough to create a massive event as someone knows someone for any particular item needed. It is quite amazing to see such a major event put together with the start of a simple meeting.
So get out there and set up a meeting in July for a major event in a neighborhood desired. All it takes is an idea and the drive to pick up the phone and invite a group of people to a meeting to share the idea....then let the group evolve. Honestly, it is that easy to start. Most either don't want to do it or are scared to do it, or don't believe that it will actually work. So that is your choice....... I am just telling you it does work. Make it big and go for it..........
So here it is July 3rd, and I am sitting here finalizing the plans on our July 4th marketing events for our Farm for tomorrow.
Shouldn't I be taking the 4th off to be with the family? Welllllllll, partially. I am going out tonight to see fireworks, and tomorrow night for dinner; but the rest of the day is marketing 101 with fun.
I and my business partners are good ol' farmers. We have a couple of communities we work and sell a bit over $50mm a year. That's not even close to where we want to be and are taking this down market as a time where we increase our market share dramatically, while eating beans in the process of making it through this lovely market.
So tomorrow morning we start off with a parade in community 1 at 9am; though we will be there to prepare at 8am. We are passing out grocery bags (eco freindly, of course) to about 500 in the parade. Luckily the parade ends pretty quickly.
Back to the office to pick up 750 ice cream cones for the kids at the 4th of July picnic at subdivision two. Set up is at 10:30 and the event runs from 11 to 1. I do have a follow up appt with a client at 4, but after that I am done, and it is all family.
As farmers, we are strong believers in face to face contact versus advertising. So tomorrow, I will have my face and voice out to about 1500 or so people. Agent's come up to me and say why would you work on the 4th?
I just don't see what we do as work. Here is another way to look at it. I am going to a parade in the morning and then to a picnic at lunch. Sounds like a pretty good 4th to me. I am there to have fun, not work. There will be no chit chatting about business, just a time to be with others in my farm.
Well, I best get going now, as I have to go pick up a ton of ice cream for tomorrow. So, that may not be fun, but today is the 3rd.
Enjoy the 4th.....enjoy what you do.....enjoy your family. You really can do it all......... It is just a mindset.
I
can not thank enough for all the replies
from you guys on
my blog last week, "3
Reasons why you should NEVER EVER hold an OPEN HOUSE".
Mind you, it was a bit of a challenge to go through 275
replies, but I promise that I read everyone, and directly emailed
several of you with your witty replies.
The post did not take off
at all as members were flying
through it not catching my disturbed sense of humor. So I
went back and revised the post with the words "READ
SLOWWWWLLLLLYYY". Then
the post took off like a rocket as most caught the off beat humor.
Others did not, and it was quite interesting to see the differences in
the replies.
Some scolded me
at the thought of not holding open house; others totally agreed with me
that open houses were a total waste of time, the majority loved the
witty satire; but, my favorites, were the members that actually read
not only through my post slowwwwllllyyy, but they also read the
comments. Mind you there were 275 replies. Some of
their comments were absolutely hilarious.
So
one little post taught me more than the previous 468 sent.
Part of this because allot of my previous blogs stunk, but I
learned so much how to appreciate and read slowwwlllly the content of
others blogs. Many of the really good bloggers (I would not
be included in that list) spend or appear to spend an enormous amount
of time in thinking of what they want to say and how they want to say
it and the look they want to present it in.
So
I feel pretty bad about some of the 10 worder comments I have made in
the past on some of the incredible posts prepared by the best of the
best. This experience was a good slap in the face for me, and
I thank all.....but geeeez.....those
275 slaps tend to hurt.....
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
;)
Links;)
Archives
