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PARALYZED BY THE MARKET

By JoAnn Hostutler

Real Estate Broker/Owner with EWM Realtors

August 20, 2007 10:34 AM

Lightening

There is no doubt working real estate in South Florida is a challenge, as I am sure you are experiencing it in your area as well. I have been in real estate for over 25 years and have been a Managing Broker for EWM Realtors since 1999.

I've always found it rewarding to work with associates, coach and assist them to reach new levels. Some of our associates have only been in real estate less than five years. They are well trained experienced agents, with plenty of assistance from the company and the management team, and yet I find them walking around like they are just "paralyzed" by the market. It's like they don't know what to do or how to do it and they are just standing still waiting on a bolt of lightening to strike and get them up and running.

Everyone knows the basics of "Real Estate 101", for example:

•· Contact your sphere of influence

•· Establish a farm area and market to that area

•· Market you're just listed/just sold properties

•· Hold open houses

•· Work expired listings

•· Join a network group

•· Have a personal website

•· Work For Sale by Owners

•· List - List - List

The list could go on and on and even though they are doing the basics of real estate, for some it's still not working. Beth Butler, COO of EWM Realtors is always one step ahead and she had the fabulous idea of rolling out a Blogging Contest for the associates. The contest is called "Star Tech" and will start August 21^st. The blog will be open to the public shortly and you too can visit and blog at EWM.com.

We're always looking for new ideas and creative ways to assist our associates to do more business and truly believe this will be beneficial. It's a new day, new year and new world, with technology moving so fast it's hard to keep up with it.

Let's help our associates survive this market. We shared our ideas, will your share yours?

Comments(18)

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Donna Lueder

Integrity Group Inc. - Boise, ID

Meridian Idaho Real Estate

Joann, those who list, last!

Aug 20, 2007 10:39 AM

Randy Lyon

Kettley and Company - Oswego, IL

JoAnn,

The hey days of 2005 had a lot of realtors never learning the basics. They are going to have to get back to the basics and eat some humble pie to stay in business. The good news it will get better. Real estate is cyclical.

Aug 20, 2007 10:45 AM

Scott Patterson

EWM Realtors International - South Florida Real Estate - Aventura, FL

South Florida Real Estate

Great blog. I think blogging could really help the new agents gain experience from the more seasoned agents. And even seasoned agents can learn from other seasoned agents and find out new ideas everyday. Rather than stare at a wall they can read a blog.

Aug 20, 2007 10:56 AM

Lori Lincoln And Associates

Top Agent Serving Dighton Taunton, Rehoboth and more! - Taunton, MA

Top Agent Taunton,Dighton Rehoboth &more

Great Advice on this topic, we need to stay up in a down market. If we continue to get our education, study markets and most importantly prospect like nobody's business, we will succeed.

Aug 20, 2007 11:35 AM

JoAnn Hostutler

EWM Realtors - Weston, FL

Donna, I agree. Having been in the business a long time, it's really educating the newbee that's what it's all about. thanks for your comment. JoAnn

Aug 20, 2007 01:57 PM

Randy, You are right the "hey days" are over and now it's back to realty. Some agents have never worked in "realty"! It's and eye opener! JoAnn

Aug 20, 2007 01:58 PM

Scott, You are so right. We can all learn from each other. In this market, there is a lot to learn. Thanks

for your comment. JoAnn

Aug 20, 2007 01:59 PM

Lori, I appreciate your comment. This is a difficult market, but the strong will survive. Good luck! JoAnn

Aug 20, 2007 02:00 PM

Beth Butler

Beth Butler - Big Mouth Consulting - Miami, FL

Makes me think of the old saying... Realtors don't die, they just get listless"

Aug 20, 2007 02:01 PM

Beth, Maybe they are "lifeless" but can be revived!! At least that's my hope! JoAnn

Aug 20, 2007 02:14 PM

Karen Ross

Esslinger Wooten Maxwell - Weston, FL

JoAnn -- great post! I always say, "Realtors don't retire, they retread!" -- but I like the "listless" comment.

One thing I tell the trainees -- if you haven't got enough to do, grab a farm area, go into the tax rolls, click on OWNER ST =/ (NOT EQUAL TO) FL and find all the out-of-town owners in that area. Do a CMA -- even get into the community, take a photo of the house, make a brochure, just listed, do a listing presentation (either powerpower or paper) and send it to the owner. Put everything into that pretty EWM box.

If the owner has owned the home for a while, he may be ready to turn it into money -- maybe he's tired of the non-homesteaded, ever-rising tax situation, his kids are killing him in college, etc.

At least the agent will get good practice performing CMAs and perhaps make some contacts. Perhaps all the Just Listed/Just Sold cards of other agents went to the tenants and never reached the real owners, and the real owners have no idea what the home is worth.

It's a shot and may make the phone ring, or heaven forbid, someone might get a listing!

Aug 20, 2007 03:33 PM

Victoria Bace Perdomo, P.A.

Berkshire Hathaway HomeServices Florida Realty - Weston, FL

JoAnn, Thanks! It is really a great post... It's easy! As simple as going back to basics.

Aug 20, 2007 03:44 PM

Karen, I agree with going back and checking the absentee owners, especially in South Florida. It is all about basics. We rolled at the meeting today about the EWM blog. It was awesome! Can't wait to tell you about it. JoAnn

Aug 21, 2007 01:35 PM

Victoria, Thanks for your comment. My goal is to help each associate reach a new level. Your participation is greately appreciated and I know in the end you will benefit from it. JoAnn

Aug 21, 2007 01:36 PM

Monica Rich

Berkshire Hathaway Florida Realty - Coral Gables, FL

Coral Gables Real Estate

JoAnn - I agree with 1 through 8. There is just something about taking listings that doesn't feel right at this time! But, I will take YOUR word for it and go after a few.... Thanks for the great hints.

Aug 22, 2007 06:43 AM

Maureen, Open houses are also slow in our area, but I truly believe by networking on AR you will

pick up business. First they find you, then they love you!! Good luck! JoAnn

Aug 22, 2007 02:11 PM

Monica, I am a believer in taking listings only and"if" the seller has a real reason to move "motivated" and if they are priced right. Don't take an overpriced listing on the promise they will reduce in a month. In a month they reduce to what you originally said, they will still be overpriced. Good luck and thanks for the comment. JoAnn

Aug 22, 2007 02:13 PM

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