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.......  



SEARCH RIVER PLACE AUSTIN


SEARCH STEINER RANCH AUSTIN

 

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.

Spotlight Austin - 2009 Top Producers Panel

How to Thrive in a Challenging Economic Market

Host: Spotlight Austin
Type: Education - Lecture
Network: Global
Date: Thursday, July 23, 2009
Time: 5:30pm - 7:30pm
Location: Westwood Country Club
Street: 3808 W. 35th Street
City/Town: Austin, TX
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Phone: 5122411818
Email: allison@pattentitle.com

Description

Come listen to Austin's 2009 Top Real Estate Producers discuss how they have managed to succeed in this challenging market.

Panelists include:

  • Tosca Gruber, Coldwell Banker United

  • Lisa Goldin, Lisa Goldin Properties

  • Tim Moncrief, Bartlett Real Estate Group - KW

  • Reserve your seat at www.pattentitle.com/spotlightaustin.

  • Full house expected. Food will be provided. 

 

 

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:

http://activerain.com/blogsview/1139335/why-would-you-work-on-the-4th-rather-than-be-with-family-and-others- 

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).

rIVER PLACE
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.....

 

Steiner Ranch

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).  

 River Place

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..........

River Place

 

 

 

river place
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.

 
River Place austin
HAVE A SUPER JULY 4TH FROM AUSTIN, TEXAS!!!!!!!!!!!!!!!!!!!

Why would one move to Austin????  
Click to find out.......

Here are some lists where Austin ranks near or at the top:

  • Best Bang for the Buck Cities
  • 10 Cities where Americans are relocating
  • Top 10 Cities for Jobs i
  • Best Cities for Recession Recovery
  • Best US Places to Raise a Family in 
  • Most Attractive People in America 
  • Best US Cities to have a Baby 
  • Austin is the 2nd Fastest Growing City in the Nation
  • Best City for a Fresh Start
  • Best Cities for Singles 
  • The Healthiest Housing Market
  • Best US Cities for High Tech Jobs



 
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.....  

I am a better man after one blog.
 

 
 
Rainmaker_large

Tim Moncrief, Co-Owner-Bartlett RE Group

Austin, TX

More about me…

Keller Williams Realty

Address: 6816 FM 620 N, Austin, TX, 78732

Office Phone: (512) 418-1435

Cell Phone: (512) 576-7344

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